Podcast 7 Explaining blockchain

Randall van Poelvoorde on Tech & Robots

What I want to discuss with you today is blockchains.

Even though this is not a new technology anymore, I notice that many people are familiar with the term but have no idea what it actually is. Let's go back to the very first accounting lessons. Every time two parties engage in a transaction, it needs to be documented and recorded. As the amounts or the stakes get larger, the trust that parties have in each other becomes very important. If I sell my house to you, I want to be sure that you have the money, and you want to be sure that I am the owner of the house. We also want to properly record the transfer of ownership and ensure a smooth payment. Therefore, we engage various intermediaries, such as real estate agents, banks, and notaries. This works fine but is not the cheapest and fastest way. Could we invent something that allows us to trust each other without the intervention of all these expensive middlemen? This is where blockchain technology comes in.

I invite you to listen to my podcast regularly. We will discuss fascinating technologies and inventions. We will talk about the problems and opportunities. We will ponder what the world could look like. I promise you it will be an exciting, fun, and optimistic journey. A journey full of robots, artificial intelligence, self-driving cars, and sustainable energy. A journey full of questions and answers. A journey full of wonder and astonishment. But also, a journey with a lot of recognition. I am going to create these episodes with great pleasure and I look forward to hearing your reactions.

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