SB

The Future of Blockchain

Jun 2, 2018

KL
Stage· 169 messages
Jun 2, 2018
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Sinead Bovell · 2:00 PM

Hi Kelly/ Kesem! Excited to get talking about blockchain!
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Kelly Lovell · 2:01 PM

Hi Everyone!
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Kelly Lovell · 2:02 PM

What better way to start off the morning than talking about innovation and the potential of YOUTH to make an impact💪
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Sinead Bovell · 2:04 PM

I completely agree! What a fascinating chapter we are stepping into! And this is just the beginning
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Kelly Lovell · 2:07 PM

Yes! For those joining that chat that don't know me. My name is Kelly and over the past 5 years I have dedicated my work to "BridgingTheGap" to the next generation. A 16-time award-winning social entrepreneur and speaker, my work focuses on
KL

Kelly Lovell · 2:07 PM

helping businesses, governments and organizations foster youth-led innovation, future skills training, social entrepreneurship, and prepare for the future of jobs.
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Kelly Lovell · 2:08 PM

of which disruptive technologies like Blockchain play a role :)
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Sinead Bovell · 2:10 PM

For those joining the chat- my name is Sinead and I am the founder of WAYE: weekly advice for the young entrepreneur. My focus is bridging the gap between millennials and the digital future. From startup strategy consulting to a monthly talk series (WAYE Talks)
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Kelly Lovell · 2:12 PM

I want to note that this is a collaborative chat. So please anyone reading put your comments, questions and ideas in the conversation boxes beside us 👉 and we will spotlight ones to add to this thread. You can also tag me on Twitter @kellyalovell
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Sinead Bovell · 2:12 PM

I equip millennials with the tools and skill sets to build a thriving and sustainable workforce!
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Sinead Bovell · 2:12 PM

Kelly - I have a question for you
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Kelly Lovell · 2:13 PM

yes of course
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Kesem Frank · 2:13 PM

Hey all
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Sinead Bovell · 2:13 PM

Hi Kesem! Excited to have you on
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Sinead Bovell · 2:13 PM

We just did a small intro- why don’t you tell those just joining a little bit about you
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Kesem Frank · 2:14 PM

Sure thing
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Kelly Lovell · 2:14 PM

https://cdn.tawkers.com/tawkers-media-tawk-comment-image-ff808181-63b94b84-0163-c5ffb69a-0186.png
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Kesem Frank · 2:14 PM

My name is kesem Frank I am a co-founder of a company based out of Toronto called nuco and of the project called Aion
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Kesem Frank · 2:15 PM

We aim to bring blockchain technology to the mainstream by facilitating a truly decentralized internet
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Kesem Frank · 2:16 PM

We want to solve problems such as wide access to Modern infrastructure and financial inclusivity
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Sinead Bovell · 2:16 PM

Your company and project are fascinating! Truly going to revolutionize and accelerate the adoption of blockchain
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Sinead Bovell · 2:16 PM

Kelly/ Kesem- I have a question for both of you
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Kelly Lovell · 2:16 PM

Yes go for it. Let's begin
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Sinead Bovell · 2:17 PM

Despite blockchain exciting and revolutionary potential, and the widespread access to information, why do you think there is still such a knowledge gap about blockchain
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Sinead Bovell · 2:17 PM

Especially for millennials, who constantly seek information
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Kelly Lovell · 2:18 PM

I believe it's in part because the movement is being led from technical innovators. If anyone looks up what blockchain is or reads any of the official docs, they are quite complex using a lot of terminology (some even new for all)
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Kesem Frank · 2:18 PM

I honestly think that's to be expected, such as the case often for early-stage Technologies. When you think of the first use cases for the Bitcoin blockchain, there's no getting around the fact that they included some shady activity
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Kelly Lovell · 2:19 PM

This can be overwhelming for anyone, experts and young innovators alike
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Kesem Frank · 2:19 PM

We are hopefully fixing that by pointing to all of the truly amazing use cases that this technology enables
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Kelly Lovell · 2:20 PM

Yes I agree that the strong correlation with Bitcoin may confuse/interfere. However I believe this creates more of an issue preventing people from seeing BEYOND cryto and understanding blockchain's many applications
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Kelly Lovell · 2:21 PM

Before we understand the applications and then benefits, we must first understand what it is and how it works. If people don't. They give up or get frustrated
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Sinead Bovell · 2:22 PM

What is quite essential and fundamental to the future of the job market is a thorough understanding and adoption in education curriculums
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Kelly Lovell · 2:22 PM

This is a lesson I learned even with my own startups. Explaining innovation in its simplest form, in PLAIN SPEAK is critical. Not just for people/end users to understand but for brands, governments and organizations too (even more so perhaps as I find since young people are
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Sinead Bovell · 2:22 PM

1) so skill sets match the future of jobs
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Kelly Lovell · 2:23 PM

growing up with technologies we pick things up faster. It's the older demographics (the ones that will ultimately be your paying clients, funders etc) that need to understand
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Sinead Bovell · 2:23 PM

2) technology is/ will be the main factor for a country’s ability to thrive
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Sinead Bovell · 2:24 PM

That’s true.. but I still find amongst our generation, a big knowledge gap around the technology
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Kelly Lovell · 2:24 PM

To Kesem's point, case studies are important. In many cases we need to see to believe
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Sinead Bovell · 2:24 PM

Completely.
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Kelly Lovell · 2:25 PM

particularly for public-private stakeholders (government and brands)
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Kelly Lovell · 2:25 PM

it reduces the risk
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Kelly Lovell · 2:25 PM

also just like an image can say a 1000 words, sometimes what is really complex on paper can be more simply understood by simply seeing it in action
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Kelly Lovell · 2:26 PM

AND SEEING THE RESULTS - the benefits, feedback/testimonials etc
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Sinead Bovell · 2:27 PM

★ Spotlighted from Blake Ian

“Kelly / Sinead - How often does Blockchain come up in the conversation, when you are advising young entrepreneurs? ”

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Sinead Bovell · 2:27 PM

Hi Blake- thank you for your question!
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Kelly Lovell · 2:27 PM

for any innovators trying to use Blockchain or push new solutions in the market, case studies and beta trial results are key. This will help alleviate some of the friction you are facing if people don't get the value yet
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Kelly Lovell · 2:27 PM

Great question Blake!
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Sinead Bovell · 2:27 PM

I find young entrepreneurs bring up cryptocurrencies more frequently than blockchain
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Kelly Lovell · 2:27 PM

In honesty I don't see it as often as people would think.
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Kelly Lovell · 2:28 PM

My network reaches young innovators across 60 countries, and I believe it depends on where they are and their field of interest
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Kesem Frank · 2:28 PM

I'm actually pretty glad to say that that thos is now an often question, when people realize what the technology enables it changes the question from an architectural perspective to why not build this on blockchain
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Sinead Bovell · 2:29 PM

Interesting point Kesem
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Kelly Lovell · 2:29 PM

Blockchain is largely still a buzz in the tech community, but if you are not a developer or technical founder, it's not as mainstream yet
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Kesem Frank · 2:29 PM

This is true for mature Enterprises, but even more so for new companies
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Kelly Lovell · 2:29 PM

Yes Blockchain is a framework to build innovation rather than an innovation product
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Kelly Lovell · 2:31 PM

This is why shifting the focus away from just cryto and emphasizing the other applications I believe is important. People too often mix them up and see them as the same. Cryto is just ONE application domain. Smart contracts, data soveignity ... there are so many other ways
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Kelly Lovell · 2:32 PM

for instance, you can use it to trace land rights ownership, produce production literally from farm to plate etc
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Sinead Bovell · 2:32 PM

Financial inclusion
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Kesem Frank · 2:33 PM

@kelly - I completely agree. Blockchain is about how we think and act upon trust. Crypto is a great use case, and I agree with your point that there are broader applications
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Sinead Bovell · 2:33 PM

In summary, which will be fundamental to poverty reduction
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Kelly Lovell · 2:33 PM

the key is traceability and trusted data. So when people want to think about how blockchain can help them. They should think from the perspective of
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Kelly Lovell · 2:34 PM

"where do I need trusted data" "where could data trails be useful to me, my work or my customers"
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Sinead Bovell · 2:34 PM

I am very excited for the adoption of blockchain by the freelance market
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Kelly Lovell · 2:34 PM

or ... "where is trust lacking" and how can we improve it (aka enter blockchain 💪)
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Sinead Bovell · 2:35 PM

Which will make up a large majority of the future of the job market
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Sinead Bovell · 2:35 PM

I think once millennials and gen z get to experience the benefits of blockchain for their on goals and objectives, it will really thrive
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Kesem Frank · 2:35 PM

@Sinead - absolutely
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Kelly Lovell · 2:36 PM

while there may be benefits to the future job market. I believe this is not the first industry that people will see the immediate benefits. For those familiar with all the innovation of blockchain for sure. But this is a broader application.
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Kesem Frank · 2:36 PM

Would this technology means for markets currently lacking modern infrastructure is huge
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Kelly Lovell · 2:37 PM

The more immediate in removing intermediaries in value chains
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Sinead Bovell · 2:37 PM

Totally agree Kesem!
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Kesem Frank · 2:37 PM

It allows us to LeapFrog over Giant infrastructure type Investments straight into an agile framework that works even better
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Kesem Frank · 2:38 PM

The most significant impact will be for communities that have not had the benefit of the modern Financial world to date
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Sinead Bovell · 2:38 PM

Kesem, have you found that as you work with organizations to build on blockchain, any new and unexpected developments/ realizations
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Kelly Lovell · 2:38 PM

Cost savings and reduced time to market are two benefits from an innovator considering building their solution with blockchain
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Kelly Lovell · 2:39 PM

it gives you a ready made foundation (and there are many providers developing in the space to make it turn key)
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Kelly Lovell · 2:40 PM

Summary for those thinking "can blockchain help the problem I am trying to solve, and be used in my project"
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Kesem Frank · 2:40 PM

Sinead - yes. I think that organizations that started out being flat-out scared by what this tech enables, realized that they probably stand to gain a lot
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Kelly Lovell · 2:40 PM

Think 1) does your problem involved a transfer of resources or value exchange
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Kesem Frank · 2:40 PM

It's all a matter of being receptive to a new paradigm of doing things
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Kesem Frank · 2:41 PM

It's not easy, but the rewards if done are huge
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Kelly Lovell · 2:41 PM

2) does it benefit to be able to trace the flow/exchange
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Kelly Lovell · 2:41 PM

3) can improved trust benefit
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Sinead Bovell · 2:42 PM

And I think what is great about the adoption of blockchain ( seen as an investment) is the benefits can be easily measured
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Kelly Lovell · 2:42 PM

To Kesem's point: we can't solve today's problems with yesterday's solutions
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Sinead Bovell · 2:42 PM

You can pretty much calculate the exact ROI
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Kelly Lovell · 2:43 PM

we need new frameworks and models. Blockchain provides one of these. But you need to be open minded enough to explore the possibilities.
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Kelly Lovell · 2:44 PM

"trust" and "traceability" these are the two essential components blockchain brings to the table
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Sinead Bovell · 2:45 PM

An up to date and single version of the truth
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Kelly Lovell · 2:46 PM

My question for both of you. What is one of the most interesting (or exciting) Blockchain use case you each have seen (aside from cryto 😉)
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Kesem Frank · 2:47 PM

Great question, hard to pick :)
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Kesem Frank · 2:47 PM

I'm going to go with two
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Kesem Frank · 2:48 PM

Digital identity is absolutely a huge deal. It allows us to move away from the Black Box model of how government in institutional authorities handle our identity today
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Sinead Bovell · 2:48 PM

That is my pick too! Digital identity
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Sinead Bovell · 2:49 PM

It will be a turnkey in healthcare
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Kesem Frank · 2:49 PM

Blockchain allows us to to use a new paradigm that puts the autonomy back into the hands of its users
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Kesem Frank · 2:49 PM

#2, machine-to-machine transactions
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Kelly Lovell · 2:49 PM

Yes some interesting and exciting applications here. i.e. sharing of medical records,
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Kesem Frank · 2:49 PM

This is something that allows for Universal fabric for anything and everything to transact amongst themselves
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Kelly Lovell · 2:49 PM

the key I believe is empowering people to make use of their own data
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Kesem Frank · 2:50 PM

This is iot on a grand scale that allows us to really build a connected and smart future
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Sinead Bovell · 2:50 PM

Yes, a decentralized yet connected future
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Kelly Lovell · 2:50 PM

i.e. instead of someone's identity records being owned and managed by isolated institutions, they are empowered to see and share their data with whomever they need, whenever they need
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Sinead Bovell · 2:50 PM

The digital identity, especially as it relates to healthcare will be a fascinating transformation
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Kelly Lovell · 2:51 PM

For sure! Now I am going to turn it over to those viewing our chat. This is an ongoing chat and we want to here from YOUth!
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Kelly Lovell · 2:52 PM

add you comments, questions and ideas in the comment box to expand on our conversation
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Kelly Lovell · 2:52 PM

Starting with: "What is one industry or blockchain application you are excited about and why"
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Kelly Lovell · 2:53 PM

Sinead and I will be following the comments and continue the conversations.
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Kelly Lovell · 2:54 PM

Including sharing updates from the Blockchain for Impact summit at the United Nations tomorrow :)
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Kelly Lovell · 2:57 PM

Kesem thanks for joining us and sharing some of your insights! Fantastic way to kick the conversations off
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Sinead Bovell · 2:57 PM

Correct! We will be sharing all of the latest and exciting discussions about blockchain from tomorrow’s Blockchain for Impact summit.
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Sinead Bovell · 2:58 PM

We would love to hear all of your comments and questions!
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Sinead Bovell · 2:58 PM

Kesem- thank you for joining us this morning. Nuco and Aion project are truly revolutionizing blockchain adoption. What an exciting time to be a part of technology!
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Kelly Lovell · 4:54 PM

I will also be live tweeting during the summit, so you can follow along at https://twitter.com/kellyalovell
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Sinead Bovell · 5:53 PM

Thanks David! Myself and Kelly will be!
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Sinead Bovell · 6:59 PM

★ Spotlighted from Remi Wachtenheim

“Kesem, checking out the AION site now. Fascinating ”

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Sinead Bovell · 7:00 PM

I know! We are all blown away by Aion
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Sinead Bovell · 7:00 PM

★ Spotlighted from Jennifer Fenley

“Love what you guys are doing. Blockchain Youth = our future. ☺️”

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Sinead Bovell · 7:00 PM

Thanks Jennifer! This while generation is really moving in the right direction. Technology is going to help us drive our good causes forward!
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Kelly Lovell · 7:17 PM

Love it Jennifer. You can't discuss, let alone build future ready solutions, without involving the young innovators who will be living it! YOUth are catalysts for change.
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Sinead Bovell · 7:28 PM

★ Spotlighted from Mark Green

“Interesting convo! What do you guys mean by digital identity on blockchain?”

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Sinead Bovell · 7:28 PM

Great question Mark!
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Sinead Bovell · 7:29 PM

What we mean is that instead of having to sign in with passwords ans reveal sensitive data on sites like PayPal for example, blockchain allows you to store a single digital identity in a secure and incorruptible manner
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Sinead Bovell · 7:31 PM

So in the future each of us will have a unique and always up-to-date digital identity, which will largely reduce things like indentity theft
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Kelly Lovell · 7:34 PM

Think of it like a universal access code. Like how your fingerprint can be used to identify you in a physical form. Blockchain creates a digital authentication that can be used interchangeably across organizations, sectors etc
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Kelly Lovell · 7:35 PM

Got a question from Amnol on Linkedin: "1 . The scalability and acceptability of open identity systems like Uport( Consensys), and how they could tie in with traceability for democratic elections? 2. The impact of power consumption due to mining on blockchain platforms. "
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Kelly Lovell · 7:35 PM

He would like to know more about the above two points
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Kelly Lovell · 7:39 PM

Anmol's second point on the power consumption must be consider. There is a recent article on this examining how . In November, the power consumed by the entire bitcoin network was estimated to be higher than that of the Republic of Ireland.
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Kelly Lovell · 7:39 PM

here are a few resource links exploring this concern further: https://www.theguardian.com/technology/2018/jan/17/bitcoin-electricity-usage-huge-climate-cryptocurrency
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Kelly Lovell · 7:40 PM

https://singularityhub.com/2018/02/05/lets-talk-about-bitcoins-insane-energy-consumption/#sm.001j0x6mv10facp4uxr13xlda2zhd
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Kelly Lovell · 7:41 PM

This underscores the importance of multisector collaboration and co-creation. We need to consider the impacts of Blockchain both positive and negative and work with experts across sectors to develop sustainable solutions
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Kelly Lovell · 7:43 PM

One great thing about innovation, is with each invention multiple peripheral innovation opportunities open up
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Kelly Lovell · 7:44 PM

i.e. new venture opportunities are not just using blockchain itself, there is also now stronger needs for cyber security, infrastructure and tools to reduce energy consumption of blockchain
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Sinead Bovell · 9:57 PM

★ Spotlighted from Hayley Scott

“Hi guys, where do you see blockchain being adopted first?”

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Sinead Bovell · 10:04 PM

The first wave of disruption will likely be in financial services. Blockchain records and verifies data in transactions. This is pricelsy the role of banks and financial institutions
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Sinead Bovell · 10:04 PM

This is especially relevant for emerging market economies, who do have access to banks at all. With blockchain this challenge goes away
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Sinead Bovell · 10:05 PM

Great question!
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Kelly Lovell · 10:13 PM

Yes the finance sector followed by supply chains i.e fishcoin.io is using blockchain in the global seafood industry to communicate data from fisherman and fish farmers
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Sinead Bovell · 10:18 PM

★ Spotlighted from Sabrina Miconi

“Hey! What is one risk that exists with blockchain? ”

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Sinead Bovell · 10:19 PM

Hi Sabrina! Thanks for tuning in. With any technology there always exists the potential for hacking. But blockchain is by far one of the most secured technology platforms to date
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Sinead Bovell · 10:19 PM

In addition, one potential downside is the difficulty of erasing data. Which is virtually impossible to do on Blockchain. But there are certain cases when data should be erased, blockchain makes that difficult.
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Kelly Lovell · 10:40 PM

It's secure to a point. The biggest vulnerability is actually simple human factors.
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Kelly Lovell · 10:43 PM

While keys are complex making it nearly impossible to crack. cybercriminals can still get a hold of keys through conventional, easier means. For example, they could get them if you store the keys on an insecure platform, phishing, scams, etc
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Kelly Lovell · 10:44 PM

If you misplace your keys or don't safe guard them properly it
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Kelly Lovell · 10:44 PM

Cause issues
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Kelly Lovell · 3:10 AM

In the blockchain galaxy cryto is just one of the stars. Right now it shines bright but there are many other stars to set our eyes on 😉🌟
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Sinead Bovell · 3:01 PM

★ Spotlighted from Jay Cleary

“Really excited to hear about more Blockchain applications that serve social good.”

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Sinead Bovell · 3:03 PM

Great comment Jay! That dialogue has already begun. Blockchain will be a fundamental driver in plastic cleanup. Imagine getting paid to turn in plastic?
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Sinead Bovell · 3:03 PM

https://cdn.tawkers.com/tawkers-media-tawk-comment-image-ff808181-63b94b84-0163-cb536795-05e2.jpegimage
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Sinead Bovell · 3:49 PM

Another great point that was discussed today is the lack of transparency in donations and funding charitable initiatives. But with smart contracts on blockchain we will be able to not only see where our money is going, but restrict its usage to the intended spending objectives.
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Sinead Bovell · 3:55 PM

Food for thought- some of the speakers have stated that all capital will be raised via tokens in the near future. There has been a lot of debate around fundraising via tokens.
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Kelly Lovell · 3:55 PM

https://cdn.tawkers.com/tawkers-media-tawk-comment-image-ff808181-63b94b84-0163-cb82aa1e-0628.jpgimage
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Sinead Bovell · 3:55 PM

But several speakers are certain that it’s hear to stay!
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Kelly Lovell · 3:55 PM

Live at the inaugural Blockchain for Impact summit!
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Kelly Lovell · 3:56 PM

Be sure to comment with questions or ideas you want brought up :)
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Kelly Lovell · 4:02 PM

https://cdn.tawkers.com/tawkers-media-tawk-comment-image-ff808181-63b94b84-0163-cb8929c9-0636.png
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Kelly Lovell · 4:04 PM

Meet my first ChangeLeader. Summer is 12 and already soaking up all the possibilities blockchain can bring to her venture ideas 💫
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Kelly Lovell · 1:01 AM

Talk about Monday motivation ! The Blockchain for Impact summit had a great start.
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Kelly Lovell · 1:02 AM

A few key highlights
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Kelly Lovell · 1:04 AM

1) like our friend Brian acknowledged, there are many applications and use cases blockchain; only one if which is in crytocurrencies. At the summit we dug deeper into other vital applications innovators should explore
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Kelly Lovell · 1:06 AM

This includes digital identity, supply chains, global health, human rights, and earth systems (I.e. carbon reduction and tracking climate action
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Kelly Lovell · 1:07 AM

2) a standout discussion for me was looking at data integrity. I.e. blockchain is great at storing/sharing data but HOW are you going to collect the data in the first place and from whom?
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Kelly Lovell · 1:08 AM

How can you ensure (and maintain) quality data collection
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Kelly Lovell · 1:10 AM

Blockchain data is only as good as the original data inputted. This is also one of the regulation and security issues some industries are worried about. What if false information is put out on the blockchain.
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Kelly Lovell · 1:12 AM

We all saw the affects of 'fake news' and social media propaganda in elections. What protections are needed to ensure this doesn't occur with blockchain (which the consequences if it did would be significantly worse)
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Kelly Lovell · 1:13 AM

Definitely leaving the event today with ideas swirling, new questions and insights 💪
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Kelly Lovell · 1:14 AM

@sinead what was your biggest takeaway from today?
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Sinead Bovell · 9:55 PM

@kelly my biggest takeaway from the event was the realization that we are entering into the most important time in history. The chance to rebuild our world and ensure no one is left behind. Blockchain will be the powerhouse of the future
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Sinead Bovell · 9:55 PM

An exciting, new, and inclusive era is on the horizon