re:publica Special: BTC-ECHO in search of blockchain innovations
We were there for you at the re:publica in Berlin and took a look at the latest developments in media and digitization. Our focus was of course the blockchain technology, so that we can tell you about two exciting lectures.
Lecture No.1: Blockchange: The first one was given by Thomas Wagenknecht, scientist at the FZI Forschungszentrum Informatik. Under the title “Blockchange – How Science Revolutionizes Democracy, Work and Nature Using Blockchain” he presented various blockchain application cases that go far beyond financial transactions.
Bitcoin secret on the Blockchain
Wagenknecht talked about a research project that tries to record forest areas (e.g. with the help of drones) and evaluate them economically like this: https://www.onlinebetrug.net/en/bitcoin-secret/. Wagenknecht emphasized that everything has a value, including forests. A blockchain solution could be used to record the monetary value of the forest. The concept even goes so far that the forest itself could gain value through automated smart contracts, i.e. it could accumulate capital itself and buy back shares (tokens). Very abstract and theoretical the concept, but exciting for Bitcoin secret visionaries.
The Liquid Holocracy concept was also not commonplace, which, to put it simply, involves a transparent, consensus-based way of making decisions. This new organisational structure could, for example, be implemented in a company via its own set of rules, manifested by smart contracts. Following the “blockchain consensus”, maximum participatory decisions could be made and the project distribution in a company could be controlled via smart contracts. In addition, it would also be conceivable to manage each employee’s shares via a blockchain solution.
Lecture No.2: Disrupting Organizations
Directly after Thomas Wagenknecht, the lecture “Disrupting Organizations: Decentralized Autonomous Organizations on the Blockchain” by Shermin Voshmgir continued. The Viennese computer scientist is a consultant for the Estonian E-Residency Programme and involved in The DAO.
In a very understandable way, she explained the concept behind a Decentralised Autonomous Organisation (DAO). Voshmigr argues that the blockchain is a further development of Web 2.0 to Web 3.0. Web 3.0 can be understood as the transformation of a re-decentralized Web 2.0. Finally, Web 2.0 has lost the decentralized character of the Internet, as middlemen and Internet giants now control data and transactions and store them on central servers.
This is where the blockchain or DAO comes into play, which can reverse this development. In this context, three core questions determine the added value of the blockchain infrastructure Web 3.0 compared to the Internet infrastructure Web 2.0:
What about the security of the data?
To whom does this data belong?
Who verifies this data?
At present, it is primarily companies that ensure the security of the data, which they own accordingly and decide on its verification. These three control or ownership fields can be transferred back to the user / consumer with the help of a blockchain.
The DAO is to be understood as the most complex form of Smart Contracts at present. As a form of organisation and ownership, it could be applied to practically all areas. Bitcoin, too, is ultimately nothing more than the first DAO. As a result, institutions and companies can be reorganised, with participatory elements that at the same time contribute to reducing bureaucracy.
First résumé of the re:publica
Even though blockchain technology is not the main focus of re:publica, the two speakers impressively demonstrated the dimension of blockchain technology on the first day of re:publica. Thomas Wagenknecht and Shermin Voshmgi will certainly be heard from time to time in the Blockchain community. We are looking forward to further “Blockchain impulses” from re:publica and the two speakers.