What’s A Blockchain, Anyway?
Why It Matters
Blockchain offers a new model, and freedom from traditional structures. However, it’s not without its limitations.
We started Future of Good Twitter chats to dive deeper into hot topics that have been resonating with our community. It’s hosted Thursdays from 12-1 p.m. ET.
This week, we spoke with Anne Connelly, blockchain and social impact expert and faculty member at Singularity U. Here are some highlights from the conversation.
BLOCKCHAIN BASICS
Blockchain is a technology that enables people to transfer value peer-to-peer without a third party at a scale that was never possible before. For example, today, if we want to digitally send money to a friend, we have to use a third party to make it possible: banks, Western Union, or PayPal. This costs money and adds risk.
WHAT SOCIAL OUTCOMES CHALLENGES COULD BLOCKCHAIN TECHNOLOGY HELP ADDRESS?
A3: The main social outcome benefit of #blockchain is freedom – freedom that isn’t contingent on the permission of a government or corporation. 1/3 #futureofgood
— Anne Connelly (@Anne_Connelly) April 18, 2019
BLOCKCHAIN BLIND SPOTS
A7: Not everyone shares the blockchain industry’s passion for decentralization and shaking up global power structures. Sometimes we forget that. #futureofgood 1/…
— Anne Connelly (@Anne_Connelly) April 18, 2019
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