Blood diamonds, stolen cars, sweatshops: Blockchain stops all that

The technology is poised to change how many companies operate.

  • Blockchain technology, as a digital ledger for economic transactions, is poised to "radically" impact companies across the board.
  • It may help reinforce the trust in certain markets as sensors collect data throughout production.
  • Blockchain might also create a marketplace for whistleblowing.
Videos

Don’t trust elections? How Blockchain can protect your vote

Getting your vote to where it matters can be harder and more corrupt than it should be. Could blockchain technology build a better system and rebuild people's trust?

Anyone who's walked into a voting booth and scratched their preference onto a piece of paper knows the same thing: the voting process suffers from a dire lack of technology. We put a man on the moon in 1969--why are we still voting on paper? Going digital isn't just a matter of convenience, but one of accountability—citizens the world over are increasingly losing trust in the democratic system, from miscounted votes, to denying eligible people the right to vote at all. So just how much can we digitize the act of voting? Perhaps blockchain—a public ledger technology where information is irreversibly recorded—can build a better system. Here, Internet pioneer Brian Behlendorf considers two aspects where blockchain can help, and one where it absolutely can't. Better tech can end voter discrimination at polling stations, and falsely reported totals at the state and national levels, but will we ever be able to vote on our mobile devices from the comfort of a blanket fort? Behlendorf delivers the bad news. Brian Behlendorf is the executive director of Hyperledger; for more info, visit hyperledger.org.

Technology & Innovation

How the Blockchain revolution will decentralize power and end corruption

History shows us why we can't trust centralized power. So what can we trust?

When the world has gone corrupt, who can you trust? Blockchain is stepping up. The word might ring a bell for its connection with Bitcoin, but internet pioneer Brian Behlendorf is looking at this technology beyond its use in cryptocurrency. Blockchain is an open ledger system where transactions are irreversibly recorded and immediately shared to a distributed network of witnesses (companies, agencies, individuals). The beauty of this idea is in its decentralization—if no one person or institution holds power, then that power cannot be abused. The potential for this technology is enormous: it could significantly lower corruption and eliminate fraud in many industries like banking, freight, construction, and even trace the provenance of goods like diamonds. "Blockchain technology allows us to build these same kind of systems but in a world where we don’t want to or we can’t trust central actors," says Behlendorf. Here he describes how a blockchain system is being used to protect civilian land titles in developing nations, and demonstrates how blockchain could have prevented or severely lessened the impact of the 2008 financial crisis. Brian Behlendorf is the executive director of Hyperledger; for more info, visit hyperledger.org.

Politics & Current Affairs

Fact-Based Browsing: What If the Internet Could Not Tell a Lie?

The Internet is all shadows and mirrors—but what if it were the central source of truth? Thanks to Blockchain technology, it's a future that's possible.

Imagine a world where facts rule the Internet, and lies and rumors are stripped of their disguises before they can do damage. That's actually possible, explains tech expert Brian Behlendorf, the executive director of the Hyperledger Project (who was also a primary developer of the Apache HTTP Server, the most widely used web server in the world). Although a completely truthful Internet might be dull, and a little totalitarian, it would be sweet relief for all digital citizens if someone could end fake news. Distributed ledger technology like Blockchain could do that, says Behlendorf, by changing the way organizations collect and store data. If data were decentralized or transparent on an unmodifiable Blockchain, it would be almost impossible to attack the source or integrity of someone's data on that open ledger. "I view distributed ledger technology as the closest thing we have in the technology field to being able to say something is a fact," says Behlendorf. A distributed ledger system could also be used to help us check our confirmation biases in response to fake news. Currently, central providers like Facebook and Google can alert you to news sources that may be less than factual, but imagine a decentralized version, like a Yelp for news media, with experts who score platforms on their integrity, as well as crowd-contributed ratings. In the future, what if the Internet helped resolve controversy instead of cranking the rumor mill?

Technology & Innovation