Do you know that the crypto currency mining is not the only possibility of using blocking technology?
For example, the creator of the Ethereum platform, Vitalik Buterin, believes that blocking technology can be used not only in crypto-currencies. He calls his platform a common decentralized world computer, the application of which is much broader. We publish interesting facts about Ethereum, told by Vitalik Buterin to the magazine Inc.
Help: What is Ethereum
Ethereum is an open platform for creating decentralized blocking services and applications based on smart contracts. With its help you can create your own crypto currency, lottery, identification system, platform crowding platform, decentralized marketplace, mobile payment service and much more.
The platform was launched on July 30, 2015. To implement it, the Ethereum Foundation was organized in Switzerland. Ethereum has its own crypto currency - Ether ("ether"). In March 2017, its market capitalization was more than $ 4 billion. Now hundreds of online services and applications are operating on the platform.
Ethereum came up with a programmer of Russian origin Vitalik Buterin. Since six years he lives in Canada, where his parents emigrated. In 2014, leaving his studies at Waterloo University to realize his idea, Buterin received a $ 100,000 grant from the fund of the founder of PayPal, Peter Thiel, and won the World Technology Awards, overtaking Mark Zuckerberg.
Today, the capitalization of Ethereum is more than $ 4 billion, and IBM, Acronis, JPMorgan Chase, Deloitte, Royal Bank of Scotland, Sberbank and other leading global companies are showing interest in the platform. Microsoft and UBS have already launched their own applications on the platform.
"Bitcoin is just a digital currency, and our platform is a common decentralized world computer, the application of which is much broader. Ethereum also has a crypto currency, but we do not focus on it. The goal of the project is to do what bitcoin does not do.
Ethereum executes the program code, accepting and processing transactions from any person in the world, and does so under strict rules, with a guarantee of result. With the help of this platform, even those people who do not trust each other can reliably interact.
I decided to make one common, unifying platform on which it will be possible to use this technology in any spheres. It can be work with money - financial contracts, insurance, crowdfunding, all kinds of investments ... The only condition is that all operations can be described as mathematical rules. With this basic idea, Ethereum began.
The company has two offices - in Switzerland and in Singapore, where now is also an ideal environment for the development of block projects. This is a world financial center, a large market, there is more money for the development of the detachment.One of the difficulties in working with the project is the problem of trust. It was necessary to tell the world about the platform and to ensure that the number of operations on it increased. It took time. Some immediately realized the idea and believed in it. But there were those who called us crooks, and the project - unrealistic, because they believed that it was technologically impossible to implement it.
What are the prospects for crypto currency and blocking technology in Russia?
The prospects are good. Crypto currency simplifies international transactions. Even our foundation Ethereum (engaged in the promotion of the same name platform - Inc.) has problems with the payment of contractors who sit in 15 countries. If you pay through the banking system, you need to fill out a bunch of fields each time. With crypto currency everything is easier: give us the address (this is 40 letters and numbers), and we will send money there. At the same time, money comes immediately, and the transaction cost is very low.
As far as I know, now in Russia, state institutions are thinking how to use the technology of blocking for intra- and interdepartmental interaction. For example, the Central Bank is studying the scenario of creating a master-blocker, or master-man, an interbank system that will contain a database of all financial transactions. The goal is to increase the efficiency and transparency of the country's financial system. When there is a distribution of budgetary funds and appropriations for targeted projects (up to the construction of a concrete bridge), digital money can be marked. And if the funds go out of their intended use, it can always be tracked, and very quickly.
In one of the interviews you said that when you first learned about the detachment, I was surprised: "How can such a system live, because these are simply numbers in the computer? What value can they have? "Now you already know the answer to this question?
I would say so: their value depends on what people think about them. It's such an emotional moment. Just like the square meter of land in one place is much more than in the other. There is no one reason why the cost is such, and not the other. It's just that the market has already formed and people trust the currency of our platform - this is probably all that is needed.