WEBVTT

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[33c3 prelude music]

NOTE Paragraph

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Okay, then let's continue with the next talk.

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It's from vimja. He is from Bern.

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He studies computer science
and deals with Bitcoin and Ethereum.

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He wrote his bachelor thesis

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on Bitcoin. So he will present us

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an introduction to Blockchain.

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A big applause for vimja!

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[applause]
The stage is yours!

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[applause]

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vimja: Gret, that just 
broke down.

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[laughter]

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Now that's better.

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[applause]
Thank you!

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Okay, of course that
doesn't work, too.

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Then I'll do it by hand.

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It's probably because 
you consume all the wi-fi.


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So the herald told you
everything already.

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While studying blockchain,

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I could learn many interesting things,

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and I want to share a 
part of this knowledge

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with you this evening.

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This is of course a very
complex topic.

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So let's start with somethig
easy, something we all know.

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To be specific: conventional
systems of ownership.

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They express who owns something.

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These systems of ownership 
can be displayed as systems of transitions.

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That's true for financial
systems

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and for real estate
systems

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expressing ownership of land.

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The mapping consists of the 
collection of owners and their possesions.

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And every shift of ownership

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is a transition, that leads to a 
new steady state.

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Concerning the financial system,
the state is

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the collection of all the bank accounts.

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And the transitions are 
between accounts,

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for example transfering money.

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That leads to a new state.
We see this here

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with real estate as an example.
This state contains the information

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of ownership for every piece of land.

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Then Bob sells Alice piece of land Nr. 42,
that leads to a new state.

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I marked the difference to make it clear.

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It is important in all these systems
that all participants

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agree on who owns what.

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Because, if they can't, there could be 
attacks at the system.

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