Summary: Current systems are broken, and you may not always realize that is true until you see a better alternative. In this episode, we dive into some of the solutions out there, and how they solve the current problems. Some Problems: Centralized systems create honeypots for hackers to attack. -Lack of control of your own data (facebook and Cambridge Analytica) -Financial systems, your bank is a trusted third party. In countries where you 'basically' trust the government, this problem does not come to light as easily. -Censorship via 'trusted third parties' like email service providers and ISP's. -Many services online are insecure by default. Cryptocurrency solutions Solutions: Cryptocurrencies can be a storage of wealth. If your governments currency is going through hyper-inflation storing money in a cryptocurrency is a way to get around that deflation of your wealth. -Using crypto as a currency, to pay for goods and services. -Stablecoins are a category of cryptocurrency to peg crypto to traditional currency (fiat). -Privacycoins are a way to maintain anonymity while using crypto for transactions. -Smart Contracts is another category of platform that are moving traditional centralized services on the blockchain. -Utility Tokens sit on top of smart contracts, and allow for exchange of goods, or other utilities separate from the other categories above. -Non-Fungible tokens are verifiably unique tokens, like crypto kitties or digital art. -Security Tokens create a way to break up ownership of an asset into smaller divisible units than have been possible before. blockbrothers.org twitter.com/blockbrosorg www.instagram.com/blockbrosorg
