TIS Weekly (#89): So What’s The Deal With Ethereum?

[February 19th, 2017]

Starting to understand the concept of Blockchain technology? Let’s introduce another custom-build Blockchain: Ethereum. In the words of Ethereum inventor Vitalik Buterin: “Bitcoin is like the Internet of 1995 with its static webpages — which is revolutionary in its own right, but not much else. Ethereum is like the Internet of today which has advanced graphical interfaces and build-in programming languages that lets you use any kind of application that you can possibly imagine.”

Introducing (the people behind) Ethereum

Whereas Bitcoin is a crypto-currency, Ether(coin) is a crypto-equity. One Ether(coin) can be programmed to represent money, but also a share, a token of ownership or an asset. With Ethereum you can manage ‘smart contracts’, contracts that mark transactions that only take place when all conditions are met: e.g. you will only get get access to your granny’s inheritance when you have finished college. No more need for notaries.

It’s all about decentralization

Joe Lubin (CEO, Ethereum) speaks with Zach LeBeau (Evotion Media) on the transition to decentralization.

“Basically Ethereum is the Web 3.0: a secure, decentralized, new kind of internet with its own build-in monetary system. (…) It is conceivable that the Internet will go away and that Ethereum could be essentially not build on the Internet protocol, but for now it is.”

Build your private Blockchain

Founder of Monax Industries (previously Eris Industries) Preston Byrne takes his time to explain their free ‘private Blockchain templates’ to the people behind the YouTube channel reinvent.money.

Anything you can do on the web, you can now do on the Blockchain, but the critical difference is that once you do it on the Blockchain you’re taking it off the public internet and server. Potentially, because you don’t want people to see or that you don’t want people to know about or when you need to know that the people who are interacting with the content are only the people who are authorized to do so.”

One of the use cases? The distributed YouTube-like application called 2gather that lets you tip people in Bitcoin for videos that you like and lets you control who sees your videos.

And now for something completely different

I can imagine your focus is gone after watching 3 ‘lengthy’ Ethereum clips in a row. So let’s end this newsletter with a short video on how the French startup CityTaps helps poor families in developing countries get access to running water at home with a pay-as-you-go system.

NOTE: we are not Blockchain experts — just trying to make sense of this rather difficult topic. If by mistake, we have made an error, please let us know. Add your own videos and maybe they will feature in the next TIS Weekly. Questions? Remarks? Ideas? hello@tis.tv is the address! From TIS with love, Simone de Bruin.