I wrote a post about being a skeptic in this particular technology called blockchain a while ago. Apparently, this bite me in the ass because just one day after writing that post, Andi Taufan (our CEO in Amartha) stated in our yearly plan townhall that he would like to start exploring how blockchain could benefit our business in the upcoming years.
Well, that leave me no choice but start diving because as skeptic as i am into blockchain, who doesnt want the opportunity to work in something the whole fuckin world goes bonkers about. Besides its always exciting to learn something new.
So here in this post i share some of things i read or watch to help me understand the hypebeast that is blockchain. I am by all means a complete rookie so do help me by recommending better or more comprehensive source in the comments below.
In the midst of block chain hype, i read an HackerNoon article which reminds us that one (or plenty) dose of healthy skepticism regarding the technology is necessary.
Kai Stinchombe elaborates many points on why blockchain characteristics (distributed, encrypted and anonymous ledger) might not be best suited to “revolutionize” many of the hypothethical use cases of this technology.
Really enjoy this article. I share some of the pessimism regarding this technology. One of my team mate is really excited to research block-chain on one of our business problem, but i still havent convinced yet because i felt like that is merely a ledger problem which will be overkill to solve it using distributed ledger.
Read the full article here, do make sure to read the comment discussion as well since there are many contrarian points which adressed nicely by Kai.
Here are some of the highlights :
On payments and banking :
– For processing payments, Visa currently can handle 60k transactions per second while blockchain-enabled Bitcoin current maximum is 7
– With 0.01% performance, Bitcoin estimated to use 35 more electricity than VISA
On Anonymity and freedom from government overreach
– Government-backed banking system provide guarantee, reversibility, identity verification, audit standards and investigation system. Bitcoin on the other hand has none hence Bitcoin is akin to banking institution in the middle-age
– Smart-contracts are self-executing contracts which can be encoded in block-chains
– Theoretically, Smart Contracts are more cost effective than “dumb contract” because they will execute the clause automatically with no ambiguous interpretation
– Dumb contract are better and safer because of their “slow” nature. it makes it possible for human intervention and leave room for debate from both-sides of contract
On blockchain as distributed storage, computing and messaging
– Blockchain as distributed storage seems make sense : break document up into “blocks”, encrypt, and put them in a distributed ledger
– However current common solution for this (Dropbox, GDrive) is better in many ways : multiple factor authorization instead of private keys, price and features
On blockchain as stock issuance (ICO)
– Primary role of government-backed stock exchange (e.g Nasdaq) is compliance and security provider. Taking these factor out of stock-issuance is a recipe for daylight robbery
On blockchain as authenticity verification
– Other usecase for blockchain is to make public, unalterable, undeletable statement published publicly
– However, in blockchain, there are no way to delete the records or override the transaction
– Adopting block chain technology makes theft or impersonation more likely rather than less
– Advantage of existing existing human and software systems surrounding transactions outweigh promised benefits of blockchain as well as hidden costs, of irrevocable, automated execution
– With all the hype, nobody currently asking questions whether current user of existing system (payments, credit card holder) are seeing the benefit of blockchain
Been a while since i wrote something music related and i believe there are no better time than now. End of the year where many blog pick their best 2017 list and Spotify year-end summary is prevalent all over my friend pages in various social media.
I felt like i didnt listen to as many music as previous year. Bit of growing up (or getting old) probably. I seldom listen to music when im working now because it throw my focus out of the window. However as an effort to be, referring to Seringai’s credo, generasi menolak tua i still constantly and consciously explore new music regularly. I felt that it makes me more creative and keeps me from being boring. I dont want to be that guy in their 30s which still put Hybrid Theory on pedestal of great music and whine about kids these days.
2017 also the year i switch from free Deezer to premium Spotify. Mainly because the change of status from poor scholarship student into a salary man again. Spotify is great however Deezer often get overlook, the free version is better than spotify in my opinion. Protip: use Deezer web player and install adblock.
So without further due, here are my pick for great albums released this year. Click the header to listen the album on spotify. Also, i compile the tracks on the album and several other tracks i really enjoy this year in below spotify playlist. Listen to it while reading this for maximum experience!.