The Blockchain and us

What is the Blockchain?
A mysterious white paper (Nakamoto, Satoshi, 2008, “Bitcoin: A Peer-to-Peer Electronic Cash System”) introduced the Bitcoin blockchain, a combination of existing technologies that ensures the integrity of data without a trusted party. It consists of a ledger that can’t be changed and a consensus algorithm—a way for groups to agree. Unlike existing databases in banks and other institutions, a network of users updates and supports the blockchain—a system somewhat similar to Wikipedia, which users around the globe maintain and double-check. The cryptocurrency Bitcoin is the first use case of the blockchain, but much more seems to be possible.

When the Wright brothers invented the airplane in 1903, it was hard to imagine there would be over 500,000 people traveling in the air at any point in time today. In 2008, Satoshi Nakamoto invented Bitcoin and the blockchain. For the first time in history, his invention made it possible to send money around the globe without banks, governments or any other intermediaries. Satoshi is a mystery character, and just like the Wright brothers, he solved an unsolvable problem. The concept of the blockchain isn’t very intuitive. But still, many people believe it is a game changer. Despite its mysterious beginnings, the blockchain might be the airplane of our time.
Economist and filmmaker Manuel Stagars portrays this exciting technology in interviews with software developers, cryptologists, researchers, entrepreneurs, consultants, VCs, authors, politicians, and futurists from the United States, Canada, Switzerland, the UK, and Australia.