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[Music]

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my name is Tegan Klein I'm the

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co-founder of Edge and node the initial

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team behind the graph and with the graph

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what Google does for the web the graph

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does for blockchains and organizing data

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my name is Cynthia Haas and I'm the

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director of the world of women

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Foundation world of women is a

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collection of 10 000 women all across

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different backgrounds variety of skins

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traits and we are a community that

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Champions inclusion and diversity in the

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web through space my name is Charlie Lee

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I'm the creator of Litecoin one of the

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alternative currents fees to bitcoin I

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was playing around with the Bitcoin code

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base and decided to create my own

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cryptocurrency and it was a fun side

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project and it took off

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when you buy something with a credit

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card when your groceries are labeled

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organic when you see verified identity

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on social media or when you vote all of

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these things they depend on trust how do

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you know that the money was transferred

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that the food is actually organic that

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the person is real or that your vote is

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counted ultimately you trust records

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managed by Banks companies and

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governments

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but these days many people wonder if

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they can trust companies governments or

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any form of centralized power with the

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rise of misinformation what if we could

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build a system of trust that didn't

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depend on a central entity what if we

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could keep track of things like money or

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property in a way that anyone could

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audit the data without putting a company

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or government in charge

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that's possible today using the

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technology called blockchain

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blockchain is a new way of storing

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information across internet where

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everyone can participate with blockchain

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data can be decentralized and

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distributed nobody owns a blockchain but

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everybody can use it and verify the

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information on it this technology is the

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Innovation behind cryptocurrencies like

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Bitcoin it has other potential use cases

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which we'll get to in a later video but

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first let's look at how the problems of

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trust have been solved in the past

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since the earliest of human societies

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we've invented different ways of

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building trust by keeping track of

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information and transactions

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like who owns this Farm

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how much do I owe you for the milk what

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are the laws of the land

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humans started using shells or precious

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rocks to keep track of transactions and

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these became the earliest forms of

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currency as we moved from tribes to

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villages to cities we needed to keep

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track of property and laws this led to

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the early invention of numbers in

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writing

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isn't that incredible

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we didn't invent numbers for math class

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we didn't invent the alphabet to write

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books

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we invented them to keep track of land

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livestock debts and taxes

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and of course we've come a long way

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since then currency has evolved from

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shells to coins to banknotes to Digital

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Data writing has evolved from clay

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tablets to paper to digital formats

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along with inventing writing and numbers

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we've also invented a new way to

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establish trust because all of these

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ways of preserving records They still

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depend on trust that's why the laws of

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the land were set in stone to make sure

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nobody would change them

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but how do you trust something even if

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it's set in stone

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for example you might have a clay tablet

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that says you own 100 cows but how do I

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know that you didn't make that number up

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that's why we invented trusted seals

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stamps and signatures

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and with all of these inventions we've

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authorized and put our trust in a

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limited group of people organizations or

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governments with the special power to

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verify our records that's the one thing

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that has never changed over thousands of

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years and new technologies these systems

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only work if we trust the organizations

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and authorities that verify the records

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and this brings us back to the

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blockchain

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blockchain is the first technology that

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allows us to record information without

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needing to trust a central Authority

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it's a digital way to store and verify

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information that is set in stone without

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needing a stone or a seal or a bank or a

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government the information on a

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blockchain is saved on a distributed

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network of computers so long as these

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computers are independently managed in

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theory no individual or organization can

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take down the network or corrupt it

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this is like a form of writing that

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can't be counterfeit or destroyed it

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enables a new form of trust the first

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use is Bitcoin

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Bitcoin is a digital currency that

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safely tracks transactions in ownership

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without needing to put trust in any bank

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or government but that's only one

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example a blockchain could potentially

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be used to track ownership of real

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estate to establish contracts to

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authenticate documents and to verify

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document was created on a certain date

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it's now theoretically possible to do

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all of these things and

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blockchain technology still has a long

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way to reach its full potential and its

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future is a topic of regular debate some

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believe that this is the future with the

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potential to democratize who has power

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and authority in human societies others

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think it is a giant scam with no other

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purpose in the rest of this video series

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we'll look at how this technology works

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and then we'll explore different points

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of view

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[Music]

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us

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[Music]