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From YouTube: Blockchain Beyond Bitcoin: The Impact on Telecom
Description
Blockchain technology has attained buzzworthy status. But beyond bitcoin, what are blockchain and distributed ledgers, and how will they impact the broader communications landscape? Brian Behlendorf, Executive Director of Hyperledger, a Linux Foundation Project, walks us through the technology as it is used now, and how it will be implemented in enterprise use cases moving forward. Watch more videos at TIANOW.org.
A
B
So,
underneath
these
crypto
currencies
like
Bitcoin
and
aetherium
at
their
heart
sits
this
data
structure,
which
seems
odd
for
us
to
get
excited
about
a
data
structure,
but
the
data
structure
called
the
distributed
ledger
right.
Sometimes
it's
it's
also
informally
known
as
a
blockchain.
It's
kind
of
the
same
principle,
though
it's
an
series
of
entries
of
transactions
that
are
cryptographically
signed
one
to
the
next,
so
you
have
integrity.
You
know
with
that
that
every
every
one
that
was
created
the
next
one
after
it
can
only
be
the
one
that
followed
it.
B
That
sort
of
thing-
and
this
is
a
ledger
that
is
distributed
amongst
a
population
of
companies
right
or
population
of
organizations,
actors.
Folks,
who
care
about
maintaining
that
common
system
of
record
between
them,
perhaps
because
they're
in
a
industry
together,
perhaps
they
are
trying
to
do
business
and
they
want
a
common
ledger
so
that,
when
their
routing
payments
between
themselves
you're
trying
to
figure
out
who
owns
this
diamond?
Who
owns
this
house,
they
they
have
a
really
clean
record.
That
shows
not
only
who
owns
it,
but
what
the
history
of
that
was
as
well
and.
B
So,
even
within
financial
services,
putting
aside
which
you
can
do
with
crypto
currencies
like
Bitcoin
or
in
theory,
let's
look
at
a
company
like
CLS
Bank,
CLS
bank.
Very
few
people
have
ever
really
heard
of
if
you're
not
in
the
financial
world,
but
they
process
all
of
the
payments
between
national
government
banks
in
the
world.
Approximately
five
trillion
US
dollars
a
week
in
nominal
value,
which
is
a
huge
amount
they
today
try
to
route
these
systems
between.
You
know
payments
between
these
different
databases
and
there's
a
lot
of
reconciliation.
B
They
have
to
do
they're
moving
to
using
a
distributed
ledger
to
keep
track
of
these
payments
and
then
do
something
called
net
settlement
at
the
end
of
the
day,
something
that
allows
for
these
payments
to
be
made
and
cleared
and
confirmed
within
minutes
rather
than
the
days
that
normally
takes
right.
Swift.
Another
example:
that's
DTCC
another
example
outside
of
the
financial
world.
B
There
are
some
sectors
that
will
benefit
from
this
more
than
others
at
least
early
on,
such
as
the
healthcare
sector,
whether
we're
talking
about
electronic
medical
records,
which
is
kind
of
the
holy
grail
for
figuring
out
how
to
share
these
or
we're
simply
talking
about
keeping
track
of
doctors,
certifications.
You
know,
where's
a
doctor
licensed
to
practice.
Have
they
recently
certified
that
sort
of
thing,
but
then
there's
a
whole
class
of
use
cases
that
span
multiple
sectors.
B
So
next
time
you
go
into
a
Whole
Foods
and
you
buy
fish
that
was
sustainably
caught
or
you
look
at
another
product
and
it's
got
some
marker
being
organic
or
you
want
to
buy
a
diamond
to
know
that
it
wasn't
a
conflict
diamond.
It's
in
at
some
point
soon,
it'll
be
blockchain
technology
that
helps
reinforce
the
integrity
of
that
claim
and.
A
B
Of
them
are
technological.
This
is
still
very
early
technology
right
and
in
some
ways
we're
benefiting
from
years
of
you
know
the
cryptocurrency
world
figuring
out
how
to
do
some
of
these
things,
but
even
there
the
amount
of
scale
that
they've
seen
is
still
on.
The
order
of
you
know
seven
to
ten
transactions
per
second
right,
which
may
be
enough
for
Bitcoin
today
and
they've
certainly
got
some
approaches
to
scaling
that
not
enough
for
most
of
the
modern
industries
out
there
right
so
part
of
the
challenge
has
been.
B
B
It
was
hard
to
make
the
case
I
was
there
making
the
case
right
and,
as
we
started
to
do
things
like
put
web
web
sorry
web
ads
on
our
on
our
pages
right
ad
banners
and
the
like,
as
we
started
to
plug
in
e-commerce
systems
generally
at
progressively
the
the
ROI
became
clearer
and
I.
Think
that's
the
case
as
well.
We're
still
at
very
much
a
proof
of
concept
stage,
a
pilot
stage,
there's
a
few
production
systems
out
there,
but
the
technology
is
still
really
young
on
the
business
side.
B
One
of
the
big
challenges
is
there's
no
such
thing
as
a
blockchain
of
one
right,
even
at
the
proof
of
concept
stage.
Even
at
the
research
stage,
companies
are
really
compelled
to
start
to
talk
to
their
suppliers,
their
customers
and
probably
even
their
competitors,
to
figure
out.
What's
what's
something
useful,
we
can
do
with
this
technology.
We've
discovered
a
new
kind
of
hammer.
B
Are
there
nails
out
there
that
look
like
they
might
fit
with
this
hammer,
and
and
that's
requiring
a
lot
of
conversations,
a
lot
of
research,
a
lot
of
things
that
frankly
are
kind
of
silly?
But
it's
we
have
to
do
these
kinds
of
things.
Innovation
is
a
messy,
very,
very
difficult
thing
to
actually
arrive
at
at
a
clear
answer
for
a
given
problem
and
that's
what
industries
are
doing
today
as
they're
exploring
blockchain
tech
but
I
think
the
clear
the
clear
patterns
the
patterns
become
clear
very
quickly.
If.
A
B
Advance
well,
I.
You
know
this
is
a
full-employment
act
for
the
industry,
because
this
is
about
how
we
take
many
of
the
business
processes
in
the
world
that
today
are
embodied
in
human
contracts
embodied
in
error-prone,
back
office
processes
that
are
embodied
in
you
know,
central
organizations
that
say
just
trust
us.
B
We
know
how
to
do
this
right
and
inverts
that
into
systems
that
are
automated
and
distributed,
but
require
all
the
participants
in
an
ecosystem
to
stand
up
a
node
on
a
network
to
be
a
peer
right,
so
that
there's
a
lot
of
room
for
companies
that
can
offer
blockchain
as
a
service
right.
We've
already
seen,
IBM
and
Microsoft
start
to
offer.
B
Oh
sorry,
dynamic
spectrum
allocation
to
all
sorts
of
a
portable
billing
as
well,
and
when
you
look
at
things
like
m-pesa
in
Eastern,
Africa
right
in
Kenya,
that
was
an
example
of
a
telco
becoming
a
bank
right.
So
the
lines
are
gonna
start
to
really
blur.
You
know:
we've
seen
the
financialization
of
everything
we've
seen
a
concept
of
software
eating
the
world
right,
I,
think
the
lines
between
what
sector
you're
in
are
you
a
telco?
Are
you
an
IT
provider
like
like
a
Google
or
an
Amazon,
or
are
you
a
bank?