Feb 232017
The concept of the blockchain At the moment, all global transactions regarding ownership are registered and controlled by so called “trusted” third parties. Money is registered by banks, real estate by the land register, specific contracts by notary public etc. If you want to change ownership, you need to contact the “trusted third party”, follow the right procedures (control and tracking) and the trusted third party will transfer ownership. On the blockchain, the knowledge of ownership is shared with everybody. Everybody has his ‘personal’ register of who owns what. On a regular basis, all ‘personal’ registers are compared to correct errors and ensure agreement about the ‘truth’. When there is a transaction, both the buyer and the seller broadcast the transaction and everybody has to update his ‘personal’ register, after checking if the transaction is broadcast according to the agreed procedures. The last step is for all ‘personal’ registers to be mutually compared again. When there is disagreement about the content, the most common register is accepted as being the ‘truth’. The manipulation, errors or failure of an individual register have no impact, it can fail completely and will simply be ignored by the community and every node on the blockchain network – the corrupted register has to accept the ‘opinion’ of the majority, or will be expelled. Blockchain  is a permanent, ever-expanding, de-centralised, secure global online ledger of transactions. is a software protocol (existing eg’s of protocols include HTML & SMTP) that verifies users & transactions using cryptography, without the need for a trusted 3rd party or broker. is made up of linked ‘blocks’ that hold batches of valid transaction data can register, confirm, authenticate and transfer ownership of any kind of tangible asset, or exchange of value, in a digital format. establishes trust and creates agreements without the need for a central organisation or subjective measures of reputation Bitcoin The most common type of digital transaction utilising the blockchain protocol A self-regulating virtual currency Central bank of the internet The bitcoin blockchain is public, open-source and permissionless You can view bitcoin transactions happening in-real time   Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Feb 102017
Social media has penetrated individual and collective lives to a huge extent and consequently modified many of our online and offline behaviors. Public and private organizations worldwide are greatly benefiting from a better understanding of the fundamental principles governing the individual and collective behaviors of people connected through social media. Recently, a framework  called Virtual Collective Consciousness (VCC) has been put forth. It is defined as the internal knowledge motivated by social media and shared by a plurality of individuals driven by the spontaneity, the homogeneity and the synchronicity of their online actions. Thus, the extensive outreach of information sharing through social networking platforms can build a momentum of consensus based on converging informational contents. Ultimately, a common identifying  stance can be forged as a resulting effect of the collectively shared consciousness. The VCC model assumes that any virtual massive-scale collective consciousness depends on transactive memory (TM). The latter can be defined as a set of individual memory systems combined with a set of individuals interacting with each other. In other words, TM can be considered as the collective memory of the online community that is afforded by social media. So how does their collective behavior exhibit awareness, cohesion, and self-identity? We have both the internal framework and the platform, which will produce such a mind-like process. To be explicit, we use the Mycryptoworld/Infinity Economics (MCW/IE) advanced blockchain as a paradigm based on its very recent innovations in the blockchain domain. Indeed, the blockchain protocol offered by MCW/IE and its TM operations emerges as an example on which the knowledge framework of VCC can operate. Blockchains are based on strong cryptography and memory of operations – and illustrates peer-to-peer interaction with no central agency. Applied to social networks, the blockchain protocol provides an explicit model for a platform that incrementally incorporates immediate experience with an integrated memory of the past, provides a global workspace, and a mechanism for consensus between participating individuals operating within a Virtual Collective Consciousness. Blockchain protocols maintain the relatively secure identity of participants and the integrity of the records. It is this methodology of linked records that provides a proxy for a linked, on-going record of experience, which is an essential feature of idealized virtual consciousness. Making the case for adopting a blockchain approach to a social network, the result would be a cloud based entity which might satisfy the criteria for a Virtual Collective Consciousness. In any (more…)