WEBVTT

00:00:01.590 --> 00:00:10.490
[Music]

00:00:13.099 --> 00:00:15.540
my name is Tegan Klein I'm the

00:00:15.540 --> 00:00:17.279
co-founder of Edge and node the initial

00:00:17.279 --> 00:00:19.199
team behind the graph and with the graph

00:00:19.199 --> 00:00:20.640
what Google does for the web the graph

00:00:20.640 --> 00:00:22.680
does for blockchains and organizing data

00:00:22.680 --> 00:00:24.300
my name is Cynthia Haas and I'm the

00:00:24.300 --> 00:00:25.260
director of the world of women

00:00:25.260 --> 00:00:27.359
Foundation world of women is a

00:00:27.359 --> 00:00:29.939
collection of 10 000 women all across

00:00:29.939 --> 00:00:32.340
different backgrounds variety of skins

00:00:32.340 --> 00:00:34.260
traits and we are a community that

00:00:34.260 --> 00:00:36.180
Champions inclusion and diversity in the

00:00:36.180 --> 00:00:38.219
web through space my name is Charlie Lee

00:00:38.219 --> 00:00:40.680
I'm the creator of Litecoin one of the

00:00:40.680 --> 00:00:43.140
alternative currents fees to bitcoin I

00:00:43.140 --> 00:00:44.940
was playing around with the Bitcoin code

00:00:44.940 --> 00:00:47.640
base and decided to create my own

00:00:47.640 --> 00:00:50.700
cryptocurrency and it was a fun side

00:00:50.700 --> 00:00:52.800
project and it took off

00:00:52.800 --> 00:00:54.420
when you buy something with a credit

00:00:54.420 --> 00:00:56.340
card when your groceries are labeled

00:00:56.340 --> 00:00:58.739
organic when you see verified identity

00:00:58.739 --> 00:01:01.440
on social media or when you vote all of

00:01:01.440 --> 00:01:04.260
these things they depend on trust how do

00:01:04.260 --> 00:01:06.119
you know that the money was transferred

00:01:06.119 --> 00:01:08.580
that the food is actually organic that

00:01:08.580 --> 00:01:11.400
the person is real or that your vote is

00:01:11.400 --> 00:01:14.640
counted ultimately you trust records

00:01:14.640 --> 00:01:16.860
managed by Banks companies and

00:01:16.860 --> 00:01:18.000
governments

00:01:18.000 --> 00:01:20.939
but these days many people wonder if

00:01:20.939 --> 00:01:23.880
they can trust companies governments or

00:01:23.880 --> 00:01:27.000
any form of centralized power with the

00:01:27.000 --> 00:01:29.400
rise of misinformation what if we could

00:01:29.400 --> 00:01:31.080
build a system of trust that didn't

00:01:31.080 --> 00:01:33.659
depend on a central entity what if we

00:01:33.659 --> 00:01:35.579
could keep track of things like money or

00:01:35.579 --> 00:01:37.740
property in a way that anyone could

00:01:37.740 --> 00:01:39.600
audit the data without putting a company

00:01:39.600 --> 00:01:42.000
or government in charge

00:01:42.000 --> 00:01:44.040
that's possible today using the

00:01:44.040 --> 00:01:46.079
technology called blockchain

00:01:46.079 --> 00:01:47.880
blockchain is a new way of storing

00:01:47.880 --> 00:01:50.399
information across internet where

00:01:50.399 --> 00:01:52.759
everyone can participate with blockchain

00:01:52.759 --> 00:01:55.020
data can be decentralized and

00:01:55.020 --> 00:01:58.200
distributed nobody owns a blockchain but

00:01:58.200 --> 00:02:00.000
everybody can use it and verify the

00:02:00.000 --> 00:02:02.759
information on it this technology is the

00:02:02.759 --> 00:02:05.340
Innovation behind cryptocurrencies like

00:02:05.340 --> 00:02:08.520
Bitcoin it has other potential use cases

00:02:08.520 --> 00:02:11.400
which we'll get to in a later video but

00:02:11.400 --> 00:02:12.959
first let's look at how the problems of

00:02:12.959 --> 00:02:15.660
trust have been solved in the past

00:02:15.660 --> 00:02:17.700
since the earliest of human societies

00:02:17.700 --> 00:02:19.440
we've invented different ways of

00:02:19.440 --> 00:02:21.300
building trust by keeping track of

00:02:21.300 --> 00:02:23.580
information and transactions

00:02:23.580 --> 00:02:26.819
like who owns this Farm

00:02:26.819 --> 00:02:29.640
how much do I owe you for the milk what

00:02:29.640 --> 00:02:31.620
are the laws of the land

00:02:31.620 --> 00:02:34.020
humans started using shells or precious

00:02:34.020 --> 00:02:36.480
rocks to keep track of transactions and

00:02:36.480 --> 00:02:38.400
these became the earliest forms of

00:02:38.400 --> 00:02:41.280
currency as we moved from tribes to

00:02:41.280 --> 00:02:44.280
villages to cities we needed to keep

00:02:44.280 --> 00:02:47.940
track of property and laws this led to

00:02:47.940 --> 00:02:50.040
the early invention of numbers in

00:02:50.040 --> 00:02:51.480
writing

00:02:51.480 --> 00:02:53.220
isn't that incredible

00:02:53.220 --> 00:02:55.860
we didn't invent numbers for math class

00:02:55.860 --> 00:02:57.480
we didn't invent the alphabet to write

00:02:57.480 --> 00:02:58.739
books

00:02:58.739 --> 00:03:01.080
we invented them to keep track of land

00:03:01.080 --> 00:03:04.500
livestock debts and taxes

00:03:04.500 --> 00:03:06.360
and of course we've come a long way

00:03:06.360 --> 00:03:08.519
since then currency has evolved from

00:03:08.519 --> 00:03:11.459
shells to coins to banknotes to Digital

00:03:11.459 --> 00:03:13.560
Data writing has evolved from clay

00:03:13.560 --> 00:03:16.140
tablets to paper to digital formats

00:03:16.140 --> 00:03:18.599
along with inventing writing and numbers

00:03:18.599 --> 00:03:21.720
we've also invented a new way to

00:03:21.720 --> 00:03:24.060
establish trust because all of these

00:03:24.060 --> 00:03:26.879
ways of preserving records They still

00:03:26.879 --> 00:03:30.120
depend on trust that's why the laws of

00:03:30.120 --> 00:03:32.819
the land were set in stone to make sure

00:03:32.819 --> 00:03:35.879
nobody would change them

00:03:35.879 --> 00:03:38.519
but how do you trust something even if

00:03:38.519 --> 00:03:40.319
it's set in stone

00:03:40.319 --> 00:03:42.840
for example you might have a clay tablet

00:03:42.840 --> 00:03:46.140
that says you own 100 cows but how do I

00:03:46.140 --> 00:03:48.360
know that you didn't make that number up

00:03:48.360 --> 00:03:51.239
that's why we invented trusted seals

00:03:51.239 --> 00:03:55.200
stamps and signatures

00:03:55.200 --> 00:03:57.239
and with all of these inventions we've

00:03:57.239 --> 00:03:58.860
authorized and put our trust in a

00:03:58.860 --> 00:04:01.319
limited group of people organizations or

00:04:01.319 --> 00:04:03.239
governments with the special power to

00:04:03.239 --> 00:04:05.220
verify our records that's the one thing

00:04:05.220 --> 00:04:07.500
that has never changed over thousands of

00:04:07.500 --> 00:04:10.140
years and new technologies these systems

00:04:10.140 --> 00:04:12.360
only work if we trust the organizations

00:04:12.360 --> 00:04:15.480
and authorities that verify the records

00:04:15.480 --> 00:04:16.979
and this brings us back to the

00:04:16.979 --> 00:04:18.000
blockchain

00:04:18.000 --> 00:04:19.919
blockchain is the first technology that

00:04:19.919 --> 00:04:21.720
allows us to record information without

00:04:21.720 --> 00:04:23.520
needing to trust a central Authority

00:04:23.520 --> 00:04:26.940
it's a digital way to store and verify

00:04:26.940 --> 00:04:30.479
information that is set in stone without

00:04:30.479 --> 00:04:34.440
needing a stone or a seal or a bank or a

00:04:34.440 --> 00:04:36.900
government the information on a

00:04:36.900 --> 00:04:39.240
blockchain is saved on a distributed

00:04:39.240 --> 00:04:42.540
network of computers so long as these

00:04:42.540 --> 00:04:46.020
computers are independently managed in

00:04:46.020 --> 00:04:49.560
theory no individual or organization can

00:04:49.560 --> 00:04:52.500
take down the network or corrupt it

00:04:52.500 --> 00:04:54.720
this is like a form of writing that

00:04:54.720 --> 00:04:57.240
can't be counterfeit or destroyed it

00:04:57.240 --> 00:04:59.759
enables a new form of trust the first

00:04:59.759 --> 00:05:01.919
use is Bitcoin

00:05:01.919 --> 00:05:04.320
Bitcoin is a digital currency that

00:05:04.320 --> 00:05:06.540
safely tracks transactions in ownership

00:05:06.540 --> 00:05:09.360
without needing to put trust in any bank

00:05:09.360 --> 00:05:11.639
or government but that's only one

00:05:11.639 --> 00:05:13.740
example a blockchain could potentially

00:05:13.740 --> 00:05:15.720
be used to track ownership of real

00:05:15.720 --> 00:05:18.960
estate to establish contracts to

00:05:18.960 --> 00:05:22.020
authenticate documents and to verify

00:05:22.020 --> 00:05:23.820
document was created on a certain date

00:05:23.820 --> 00:05:26.580
it's now theoretically possible to do

00:05:26.580 --> 00:05:29.600
all of these things and

00:05:32.520 --> 00:05:34.740
blockchain technology still has a long

00:05:34.740 --> 00:05:37.680
way to reach its full potential and its

00:05:37.680 --> 00:05:40.500
future is a topic of regular debate some

00:05:40.500 --> 00:05:42.720
believe that this is the future with the

00:05:42.720 --> 00:05:45.000
potential to democratize who has power

00:05:45.000 --> 00:05:47.639
and authority in human societies others

00:05:47.639 --> 00:05:50.160
think it is a giant scam with no other

00:05:50.160 --> 00:05:52.259
purpose in the rest of this video series

00:05:52.259 --> 00:05:54.720
we'll look at how this technology works

00:05:54.720 --> 00:05:57.419
and then we'll explore different points

00:05:57.419 --> 00:05:57.850
of view

00:05:57.850 --> 00:05:59.940
[Music]

00:05:59.940 --> 00:06:02.940
us

00:06:03.510 --> 00:06:06.660
[Music]