This Huge Bet on Blockchain Could Change A $50 Trillion Industry

Ғылым және технология

Blockchain may one day eliminate inefficiencies and lack of transparency in supply chains. While slow in coming, this revolution would benefit not only customers and brands, but the “invisible" workers who power global trade.
#Blockchain #SystemShock #BloomberQuicktake
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Пікірлер: 537

  • @Motivation2Invest
    @Motivation2Invest2 жыл бұрын

    Blockchain has huge potential, but there is a danger of falling in love with the tool rather than what it can built. We don't fall in love with hammers it's just a tool which allows us to hit nails.

  • @tonysoviet3692

    @tonysoviet3692

    2 жыл бұрын

    Very well said. Same with programming, you can only benefit society and be well off if you can apply it, not just dancing around it.

  • @Metacognition88

    @Metacognition88

    2 жыл бұрын

    I collect hammers. I have a hammer collection going back to the 1850s until today.

  • @Elliott_Elliott

    @Elliott_Elliott

    2 жыл бұрын

    I agree, most blockchains are utterly useless. For most applications databases are just fine. Blockchains only make sense if they are widely decentraliced.

  • @boxy3087

    @boxy3087

    2 жыл бұрын

    well said

  • @BikeIsLife4EverGG

    @BikeIsLife4EverGG

    2 жыл бұрын

    hahaha, centralized blockchain

  • @nathangek
    @nathangek2 жыл бұрын

    "consumers willing to pay a premium for transparency" here's the kicker. That's why they're doing it.

  • @falaicha

    @falaicha

    2 жыл бұрын

    Well every technology implementation cost money, and who will pay extra for extra cost of production.. of course that would be consumer. But If technology makes things efficient in production and delivery..that saving in cost is also passed to consumer due to competition. Now the point is will implementing Blockchain in supply chain system make the overall system more efficient, I don't think it will..as blockchain is just a different way of doing things we were already doing with traditional software. So only advantage I can see right now is transparency so there is additional cost which is gonna passed to consumer. Having said that if Blockchain in this scenario goes mainstream and every small farmer and producer gets their visibility, may be that will reduce cost somehow because we as a consumer know who to buy from as per our beliefs and more people's beliefs align, there is potential that cost will reduce for better product that goes with your belief.

  • @giedrius2149

    @giedrius2149

    2 жыл бұрын

    I am not willing to pay a premium, but I am willing to cover the cost for it

  • @Ausf

    @Ausf

    2 жыл бұрын

    I disagree that most people are willing to pay a premium. With two identical products, one supposedly produced ethically, and the other slightly cheaper, most people choose the cheaper one every single time.

  • @machinmon.

    @machinmon.

    2 жыл бұрын

    Customers should pay a discount for the ease of the blockchain

  • @JohannesDriessen
    @JohannesDriessen2 жыл бұрын

    It would be amazing to be able to tip producers as a consumer

  • @sarethums

    @sarethums

    2 жыл бұрын

    You could build something like that. That would be amazing.

  • @ehvenga

    @ehvenga

    2 жыл бұрын

    @@sarethums You think people will use this?

  • @sarethums

    @sarethums

    2 жыл бұрын

    @@ehvenga I’ve been thinking of this for the last few days and yes I think people would. There is the BAT network that is something similar

  • @micheljordan123

    @micheljordan123

    Жыл бұрын

    You can. Use Brave.

  • @deggen
    @deggen2 жыл бұрын

    04:20 "Blockchain is more resistant to tampering because of the sheer number of copies of the data." - That's not really why it's resistant to tampering. It's more that the data is hashed, blocks are linked, and changing even one byte of data invalidates the block header which is widely distributed and publicly known.

  • @TheSeppentoni

    @TheSeppentoni

    2 жыл бұрын

    also blockchain does nothing to prevent tampered data to be added to the blockchain. on the contrary. falsedata will be living in the blockchain forever

  • @VivekYadav-ds8oz

    @VivekYadav-ds8oz

    2 жыл бұрын

    @@TheSeppentoni I do get what you mean though. Since the amount bought from a farmer isn't verifiable (they can tamper with that measuring machine), that data is fakeable.

  • @N-.-A

    @N-.-A

    2 жыл бұрын

    @@TheSeppentoni Thats not the point. Falsedata can be redefined through political voting on the blockchain. The connection between us, the speed of actions reflected.

  • @TheSeppentoni

    @TheSeppentoni

    2 жыл бұрын

    @@N-.-A So what data resides on the blockchain is a political question? Can I vote to delete your Wallet?

  • @isaacgonzalezduran3868

    @isaacgonzalezduran3868

    2 жыл бұрын

    @@VivekYadav-ds8oz Yeah, though that's exactly the same when using paper, those are problems that we just can't solve. But assuming the input data is correct is way more resilient than pretty much any other way of storing data.

  • @Jebusankel
    @Jebusankel2 жыл бұрын

    I don't see why you need to go full Blockchain for this. You just need an append-only distributed ledger with cryptographic signatures. That's a git repository.

  • @andtrixr3284

    @andtrixr3284

    2 жыл бұрын

    Because on blochain u can't change anything, but you can reprint wrong papers :D

  • @sesetio338

    @sesetio338

    2 жыл бұрын

    Transparency. Too much drugs lol

  • @rylaczero3740

    @rylaczero3740

    2 жыл бұрын

    Won't we benefit from verifying money trail on blockchain against the products end to end. In a possible future, we will be able to make sure that we are not buying products produced at cost of thousands weighur people.

  • @jk-gb4et

    @jk-gb4et

    2 жыл бұрын

    blockchain =/= crypto, they are not doing any crypto currency here

  • @jojosthenewblack

    @jojosthenewblack

    2 жыл бұрын

    Those advocating for the blockchain invariably are those who stand to gain the most wealth from its proliferation.

  • @dikiypoz9028
    @dikiypoz90282 жыл бұрын

    VeChain holders time came

  • @Oikonomos12
    @Oikonomos122 жыл бұрын

    Looks like what VET does already...

  • @GD15555

    @GD15555

    2 жыл бұрын

    Vet to $1-2 in next 3 years.

  • @adityakanojia8140

    @adityakanojia8140

    2 жыл бұрын

    Yes, great long term roadmap

  • @bclowner
    @bclowner2 жыл бұрын

    Super informative, thanks bloomberg :)

  • @lediovoda134
    @lediovoda1342 жыл бұрын

    Thank you for this video guys. I have been super passionate lately on understanding the driver on mass adaption, some very insightful comments on supply chain.

  • @TheSeppentoni
    @TheSeppentoni2 жыл бұрын

    nothing is stopping those guys from solving these problems with current technology.

  • @wimstalmans139
    @wimstalmans1392 жыл бұрын

    Consortium ledgers are not Blockchains. Let's settle on the correct use of terms. Blockchains are public permissionless ledgers maintained by their participants that are subject to crypto-economic staking to guarantee honesty without relying on any central authority!!!

  • @k9man163
    @k9man1632 жыл бұрын

    VET baby. coming to life.

  • @TheRollupCo
    @TheRollupCo2 жыл бұрын

    Amazing blockchain overview

  • @yobroh0
    @yobroh02 жыл бұрын

    Great to see real world use of the tech. Would love to see more of this!

  • @SoupTurtle16

    @SoupTurtle16

    2 жыл бұрын

    Sorry to break your bubble but there are very many issues with this tech being implemented the way it is. Blockchain is not new technology, it's the idea that it's a peer-to-peer network rather than a server-client relationship. It depends on both parties to be equal, in technology, and in education to utilize the blockchain and verify its authenticity. A private blockchain used by corporations is just a way for corporations to charge farmers and consumers more fees while being able to advertise that their company utilized a blockchain solution to show they are a step above their competition. Essentially what they're doing creating a fake solution to appease the consumers to upcharge them, because no one would actually go and personally go and ask people who are on the bottom of the supply chain to verify the transactions, so they can put fake transactions into the blockchain to show that they are paying the farmers more or they can actually pay more but also then reduce the payment by adding a "blockchain" cost, thus the farmers never made any more than they did before.

  • @yobroh0

    @yobroh0

    2 жыл бұрын

    @@SoupTurtle16 I hear your concern. I’m sure there are actors that would execute their businesses this way. Which naturally would be an awful thing to do. There seems to be many variants on company executions however, and to say that they’re all tyrants is probably a rash statement. I’m wondering how we could build secure/reliable digital networks for identifying and tracking malicious & benevolent behaviors in this regard…

  • @SoupTurtle16

    @SoupTurtle16

    2 жыл бұрын

    @@yobroh0 I am not asuming that the business may act in this regard, but you never know if their employees will. As a programmer, the software is suppose to be fool-proof. We cannot expect the CEO of the company to fly around the world to personally make these transactions. If their employees decide to misbehave and pocket some money in the middle suggesting to the farmer that its the cost of using the new transaction platform, nobody would know. Thus private blockchain will not help in deterring corruption, when the blockchain is owned by the potential malicious party.

  • @ewanjones9743
    @ewanjones97432 жыл бұрын

    What value does the blockchain actually provide? Sure - it's a ledger, but so is any spreadsheet or database which we've had for years and paper is still used. It's not about the tech it's about making people change/adopt it.

  • @spyder629

    @spyder629

    2 жыл бұрын

    it minimizes risk of fraud and tampering - thus providing a system that doesn't require trusting a 3rd party to still be safe

  • @PraveenKumar-bo7fw

    @PraveenKumar-bo7fw

    2 жыл бұрын

    @@spyder629 You can lie to the block chain.

  • @normieloser6969

    @normieloser6969

    2 жыл бұрын

    @@PraveenKumar-bo7fw But you can't tamper with the information already there. Your lie is thus easier identified, the system is trusted more. There is a big difference between someone providing wrong information in the tax document and someones taxes being altered whilst already in the system.

  • @deep.space.12

    @deep.space.12

    2 жыл бұрын

    @@normieloser6969 How decentralized will this "blockchain" be? The poor farmers will run it? It's probably just Amazon or whatever logistic company running 100% of the blockchain internally, giving them way more than that 51% power to rewrite history. Meanwhile those poor farmers will now be rendered unable to evade tax through cash transaction. They probably aren't allowed to participate in the supply chain without a smartphone and a data plan. Look up how little these primary producers earn to see how ridiculous this blockchain idea is.

  • @ribhavjain6667

    @ribhavjain6667

    2 жыл бұрын

    @@PraveenKumar-bo7fw to do that your have to alter like 51% of all nodes across the planet bruh

  • @AD-rf4wf
    @AD-rf4wf2 жыл бұрын

    The only semi-decent use case for blockchain I've ever seen.

  • @samimedjkouah4306
    @samimedjkouah43062 жыл бұрын

    VeChain ?

  • @astr0nox
    @astr0nox2 жыл бұрын

    If you're expecting that poor mother or miner or farmer to participate or be able to participate in blockchain at the end of supply chain, you're deluded. The case of the mama barley farmer mentioned is the utopian scenario. In real life in these places, cash is still used through and through. Even if you force the middlemen to use these, it's likely they will simply key whatever on behalf of the farmer. You can't use tech alone to fix real life societal problems. Companies ultimately still look for the best product at the best price, and will force their will down the supply chain if they can. They will opt-out of these blockchain solutions if they increase costs and inconvenient transparency.

  • @khronos893

    @khronos893

    2 жыл бұрын

    Super well said! I bet the only reason shipping companies are pushing for it is because it could reduce fraud that effects them.

  • @Bash70

    @Bash70

    2 жыл бұрын

    @@khronos893 Exactly. These corporations have no intention of making their blockchains decentralized; they're essentially write-only databases where the corporations themselves are the sole admins. It's simply to protect their own bottoms.

  • @ewanjones9743

    @ewanjones9743

    2 жыл бұрын

    @@Bash70 irony of the situation too. Blockchain users shout about security but if they're the only one using it they can rewrite it whenever they want....

  • @bevvy.bee9

    @bevvy.bee9

    2 жыл бұрын

    @@ewanjones9743 block chain users can't rewrite a block chain, only a company behind the chain

  • @ewanjones9743

    @ewanjones9743

    2 жыл бұрын

    @@bevvy.bee9 If it's a permissioned blockchain then yes, only the company can. But then - what's the point? Just use a database. Company is in control anyway and you have to trust them. If it's fully decentralized/trustless then anyone with 51% can write the history.

  • @cryptoraketeros
    @cryptoraketeros9 ай бұрын

    It is essential to analyze and understand the factors that affect the cost of protection. By carefully assessing the risk exposure and considering alternative methods, it may be possible to optimize costs while maintaining an acceptable level of protection.

  • @DomTheK9
    @DomTheK92 жыл бұрын

    Thanks

  • @jonasboardwalker
    @jonasboardwalker2 жыл бұрын

    She is wrong with a statement: “Bitcoin is not a blockchain it is an application in a blockchain.”

  • @sonamyoezer8928
    @sonamyoezer89282 жыл бұрын

    Enlightening , Eye-opening and Enriching.

  • @dukiwave
    @dukiwave2 жыл бұрын

    For anyone who cares: NOTHING mentioned in this video needs, nor is improved, by using blockchain technology. Digital append-only ledgers have been around as long as computers, and blockchain makes scaling harder, not easier.

  • @user-og7hx5tj9s

    @user-og7hx5tj9s

    2 жыл бұрын

    Can you prove it? Blockchain is basically distributed immutable database, that all parties (governments, people) can trust and easily see all transactions. Did we have it before?

  • @glowlog

    @glowlog

    2 жыл бұрын

    But they are centralised

  • @dukiwave

    @dukiwave

    2 жыл бұрын

    @@user-og7hx5tj9s yep

  • @dukiwave

    @dukiwave

    2 жыл бұрын

    @@glowlog Do you think they are centralized because we didn't have the technology to decentralise them or because companies have business interests in not decentralizing it?

  • @glowlog

    @glowlog

    2 жыл бұрын

    @@dukiwave I could be wrong here, but having different independent nodes run append only DB's (a blockchain) was not thought of/viable in the past. And also the fact that censoring the source of where raw materials came from so that small farmers would have a lesser voice on the global stage sounds like it's an intended choice

  • @fredlacroix6865
    @fredlacroix68652 жыл бұрын

    tracking of goods from source to consumer doesnt end there, blockchain tech can also used to facilitate recycling

  • @StrugglerIndeed
    @StrugglerIndeed2 жыл бұрын

    Are we talking VeChain (VET)?! 7:27

  • @shreyasprathamshetti2081
    @shreyasprathamshetti20812 жыл бұрын

    Amazing ♥️😊👌🏻

  • @leilatebbi3008
    @leilatebbi3008 Жыл бұрын

    I really loved it. hanks a lot.

  • @avonsternen6034
    @avonsternen60342 жыл бұрын

    This would also be great for nonprofits and NGOs.

  • @ocanodiego
    @ocanodiego2 жыл бұрын

    Such a cool video :)

  • @onearthanon
    @onearthanon2 жыл бұрын

    Smart contracts are smart. They can run autonomously on their own once programmed correctly. And they are contracts. They can form an agreement between 2 parties.

  • @wilhelmsarasalo3546
    @wilhelmsarasalo3546 Жыл бұрын

    "Garbage in, Garbage out" Haven't heard that in decades.

  • @chrisphipps7965
    @chrisphipps79652 жыл бұрын

    I love this story and really, REALLY, hope that the producers can be recognised, protected and empowered!

  • @Wulfcry

    @Wulfcry

    2 жыл бұрын

    Manipulate producers or tampering their production, One can only hope they're not be cheated out from fair trade rules.

  • @deep.space.12

    @deep.space.12

    2 жыл бұрын

    Here's a bright idea: Let's have the poorest producers earning a couple USD per week track all their transactions with a smartphone and mobile data subscription and spend their down time to learn the technology or else they would be barred from participating in the supply chain! What could possibly go wrong?

  • @ougawougajr.4983
    @ougawougajr.49832 жыл бұрын

    Exactly that's why I added a couple of more blockchain sources.

  • @alexandersokolov7001
    @alexandersokolov70012 жыл бұрын

    3:14 Why do i feel that major companies don't want low level transparency in their supply chain...

  • @matthewwalker7063
    @matthewwalker7063 Жыл бұрын

    I dont see how blockchain is improving much here. It sounds like the supply chain industry needs to go digital to remove the paperwork. If you put incorrect information on a blockchain, all that blockchain can do it verify that that information exists. Blockchain isn't going to magically be able to verify that the person who input the data wasn't lying. As 'motivation 2 invest' said, we need to look at problems objectively rather than start looking for nails to hit with them. Someone, please explain why we couldn't use google sheets or another cloud-based tool to track supply chains.

  • @andrezaluko

    @andrezaluko

    Жыл бұрын

    I'd like to know as well lol

  • @nickypoland
    @nickypoland2 жыл бұрын

    are they talking about vechain ?

  • @LabidySabidy
    @LabidySabidy2 жыл бұрын

    Can you please add info on the speakers in this video so that we could see their background?

  • @interanaut31
    @interanaut312 жыл бұрын

    blockchain is the real nightmare for billionaires, dictators, and bankers people...

  • @TKr.C98
    @TKr.C982 жыл бұрын

    ive started learning blockchain and these use cases are done so well. Absolutely, Consumer will pay premium to know the source. We all want the sause

  • @drkhaliidduvallucas6424

    @drkhaliidduvallucas6424

    2 жыл бұрын

    do you know you can earn about 5times the money invested on cryptocurrency in less than 4 working days

  • @freshprince633
    @freshprince6332 жыл бұрын

    Everything said in this video can be built as a traditional application and it'll be much more efficient and secure than using blockchain. If you don't agree, then I believe you don't have any experience in software development.

  • @rishavbhattacharyya

    @rishavbhattacharyya

    2 жыл бұрын

    yup, i work in ERP and everything can be tracked, this blockchain is new way of shilling investors

  • @xyd1231

    @xyd1231

    2 жыл бұрын

    software can achieve the technical difficulty but blockchain can added the trust incentive

  • @freshprince633

    @freshprince633

    2 жыл бұрын

    @@xyd1231 we don't need blockchain for trust. We already have public key encryption, and it's been used for years to sign documentary and records. The whole internet is secured using it (ssl). Also, blockchain on it's own is not secure. Ever heard of the 51℅ attack? Since there's no monetary incentive like they have in cryptocurrency, not many nodes will be running. There goes trust down the drain. This whole thing is a scam tbh.

  • @bigbeautifulsnowflake7546

    @bigbeautifulsnowflake7546

    2 жыл бұрын

    @@freshprince633 the added benefit is that u dont have a single entity in charge of that database and rather have it available decentralized. 51% attacks can happen sure and there are ways to safeguard against that, but if u only have to penetrade one centralized node thats a how much-%-attack? :)

  • @josetheman239

    @josetheman239

    2 жыл бұрын

    I was thinking the same thing.

  • @raghu7174
    @raghu71742 жыл бұрын

    We need an agnostic DLT that has a throughput of thousands of transactions per second and zero fees for this to scale effectively

  • @bigbeautifulsnowflake7546

    @bigbeautifulsnowflake7546

    2 жыл бұрын

    why just one chain, why not a diverse ecosystem thats interlinked? fees are the cost of security & spam protection

  • @metasamsara

    @metasamsara

    2 жыл бұрын

    Decentralization can be adopted for trust, with money not being even a part of the equation.

  • @raghu7174

    @raghu7174

    2 жыл бұрын

    @@bigbeautifulsnowflake7546 yes, i absolutely think the future is going to be multiple chains talking to each other. but it will be just one or two chains at the base layer. also, fees do not work well for a system that does billions of transactions on a daily basis. it's going to prohibit entrants and also be a bottleneck

  • @deggen

    @deggen

    2 жыл бұрын

    Original Bitcoin Protocol (Now known as BSV) can do ~50,000 tx/s today. Currently running at 5 Million transactions per day. i think there will be a bunch of chains doing this, but there will always be a Pareto distribution such that the majority of this type of data will be on the cheapest fastest most secure chain - BSV.

  • @drkhaliidduvallucas6424

    @drkhaliidduvallucas6424

    2 жыл бұрын

    do you know you can earn about 5times the money invested on cryptocurrency in less than 4 working days

  • @a-carpenter9229
    @a-carpenter92292 жыл бұрын

    Isn't this what Vechain (VET) is trying to accomplish

  • @bandar1321

    @bandar1321

    2 жыл бұрын

    Yes

  • @stwtn
    @stwtn2 жыл бұрын

    Really enjoyed this, keep it up! One of the first videos I've seen about REAL WORLD non-financial applications of block chain.

  • @Bash70

    @Bash70

    2 жыл бұрын

    It's not. Stop falling for the propaganda hype.

  • @gattorama9615

    @gattorama9615

    2 жыл бұрын

    😹if this is not financial ... do you understand what you see, listen? Try harder

  • @abeyjoseph6381
    @abeyjoseph63812 жыл бұрын

    Isn't the project VECHAIN doing exactly the same thing? I think it is one of the most solid projects with industry ties!

  • @dghost000
    @dghost0002 жыл бұрын

    How are they saying this will reduce climate impact without talking about the energy cost of block chain?? I mean if they use proof of work it definitely won't reduce impact, it will make it a lot worse.

  • @wackozacco7507

    @wackozacco7507

    2 жыл бұрын

    These types of systems would be facilitating much more transactions and use a different consensus method than proof of work for sure. I imagine these blockchains will be built specifically for the purpose of whatever goods they are tracking and probably have almost nothing to do with crypto mining.

  • @aneeshjohn6089
    @aneeshjohn60892 жыл бұрын

    This idea is gr8

  • @GNavoski
    @GNavoski2 жыл бұрын

    Why everyone thinks THIS technology it's going to be THE ONE it'll be used by third countries even when there are places with 0 digital platforms implemented

  • @WilsonRidge
    @WilsonRidge2 жыл бұрын

    How do the rural farmers cash out? Do they have the technology necessary to have their cash systems replaced?

  • @skeleskele

    @skeleskele

    2 жыл бұрын

    Hopefully there wont be a need to "cash out" in the future, as this technology is accepted and matures (in between right now). As everyone will be using and willingly accept cryptocurrencies as payment. And if they dont accept a specific type, it can be swapped for another, that they will accept, on the spot. Fiatcoins/Stablecoins also exist for people who want to use Fiat but on blockchain networks. Assuming cross chain bridges and swaps are fully functional in a few years, along with a multi currency society (bc different cryptos solve different problems) Edit: to add on, do they have the technology necessary? Absolutely! You just need an internet connection to access and use the blockchain of any type. You will need much much less hardware to use crypto within ur business, bc you wont need any type of special hardware

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    @maryjohn33282 жыл бұрын

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    @sharonese9650

    2 жыл бұрын

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    2 жыл бұрын

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    @pamelasandra4809

    2 жыл бұрын

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    2 жыл бұрын

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  • @CristobalRuiz
    @CristobalRuiz2 жыл бұрын

    Who owns all these computers in the blockchain and do they charge a fee?

  • @mariusschroeter
    @mariusschroeter2 жыл бұрын

    I didn't get the part where they check the quality of the product the farmer gives to the middleman. Why can't the middleman just put a different number for amount or quality etc. into the device and upload it to the blockchain? The IOT Device itself then needs to be safe right

  • @guillermoaguirre
    @guillermoaguirre2 жыл бұрын

    sounds like Vechain project to me

  • @nickypoland
    @nickypoland2 жыл бұрын

    the end result being - more expensive goods for the consumer

  • @markhemsworth2670
    @markhemsworth26702 жыл бұрын

    I suspect it will help the poor be better negotiators since reasonable data has been in the hands of the rich for a long time...and they use it to their advantage to get the best price. If the poor also have the same data the rich do, then the negotiations can start to take place on a bit of a more of a level playing field.

  • @fairytaledollpatterns7258

    @fairytaledollpatterns7258

    2 жыл бұрын

    Yes, because blockchain doesn't depend on people who can pay large sums for computer hosting and give an advantage to those who can pay experts to pour over reams of data. (That's sarcasm in case you're wondering)

  • @Baby_Chino

    @Baby_Chino

    2 жыл бұрын

    @@fairytaledollpatterns7258 that describes the american stock market more than blockchain lol, crypto levels the playing grounds for countries like singapore, el salvadore etc, that can now trade an equal currency anywhere they want.

  • @fairytaledollpatterns7258

    @fairytaledollpatterns7258

    2 жыл бұрын

    @@Baby_Chino thats a common talking point. If it weren't for the fact that different countries have different access to high speed energy and high speed computer components.

  • @machinmon.

    @machinmon.

    2 жыл бұрын

    The poor will just be paid less since even the paperwork will be automatic and instant

  • @Ausf
    @Ausf2 жыл бұрын

    I am definitely NOT willing to pay a premium for this pointless technology.

  • @finalfan321
    @finalfan3212 жыл бұрын

    that research analyst is beautiful

  • @darrensice1550
    @darrensice1550 Жыл бұрын

    If this new system is so great then why is it that here in Australia we have gone backwards to same excuse for why we have to pay more for tracking and new old tax for us to purchase items from countries in the northern hemisphere it’s just like in the beginning of when we could purchase items on the internet. The excuse was it costs so much more to post items to Australia and New Zealand and the extra cost was past on to the person purchasing the items. When someone from the northern hemisphere bought something that Australia had built design or made we couldn’t have the option to pass on extra costs to the person or company buying the items and we would have to pay taxes shipping and export costs and this didn’t change until the 2015 onwards.

  • @elonburgers5308
    @elonburgers53082 жыл бұрын

    The problem with blockchain is it uses thousands of times more electricity than a standard database, almost all of these theoretical hype ideas around it could be easily and more efficiently implemented as a standard by a company and a traditional database.

  • @elonburgers5308

    @elonburgers5308

    2 жыл бұрын

    @@hassledoctrine that's true,still though a blockchain is much less efficient than a database and its silly trying to shoehorn use cases just so you cam use it, I think it does have legitimate uses but there is so much hype around what is essentially a very large statically linked list.

  • @kaixuanjaw3173

    @kaixuanjaw3173

    2 жыл бұрын

    To have a "company" that host the server is for centralization, the "company" own the data, they can tamper with it, they can make it harder for competitor to integrate with it, cooperate bullying. blockchain is the solution of all of this.

  • @lewisitor

    @lewisitor

    2 жыл бұрын

    It means you've still not understood the concept of Blockchain yet. I get your bias is as a result of Bitcoin.

  • @tsasa192

    @tsasa192

    2 жыл бұрын

    don't comment if you don't understand what you're talking about

  • @bird42069

    @bird42069

    2 жыл бұрын

    @@lewisitor all of these people are coming here to complain with bias, nothing you say will change their minds, they are just venting their anger from their iphones they purchase the new installment of every year lol

  • @cquaio
    @cquaio2 жыл бұрын

    Excelente

  • @tariqhussain2973
    @tariqhussain29732 жыл бұрын

    Such a brilliant video!

  • @jk-gb4et
    @jk-gb4et2 жыл бұрын

    how does Banqu make money?

  • @TobiasStarling
    @TobiasStarling2 жыл бұрын

    Blockchain for trade is only as efficient as the QR codes which don’t have encryption. As far as I can tell it’s really just a gimmick.

  • @nurkleblurker2482

    @nurkleblurker2482

    2 жыл бұрын

    You are ignorant to show encryption works

  • @TobiasStarling

    @TobiasStarling

    2 жыл бұрын

    @@nurkleblurker2482 you can’t encrypt a QR image. Your inability to comprehend this or formulate a sentence demonstrates you may need to research this more.

  • @pfever
    @pfever2 жыл бұрын

    pretty old idea, interesting to see a video about this just today

  • @TheTrainstation
    @TheTrainstation2 жыл бұрын

    Blockchain can provide transparency in the asset management sector, allowing central banks to monitor the 150 trillion usd in global assets currently out there (hopefully)

  • @Hokua888
    @Hokua8882 жыл бұрын

    Yes.

  • @engineeredarmy1152
    @engineeredarmy11522 жыл бұрын

    Props to video editor. Seems like we will adapt 8bit design for blockchain.

  • @rockatanescu
    @rockatanescu2 жыл бұрын

    Why would you use a blockchain for transactions between farmers and companies when you know for a fact that the farmers will very likely not be able to run a validation node and you admit publicly that you are actually a middleman? What is the benefit of using a blockchain when only one party has all the nodes?

  • @khronos893

    @khronos893

    2 жыл бұрын

    Exactly! There's no point to using blockchain if they're still a middleman. This is just more hype!

  • @GULLAPUDILIKITHBCE

    @GULLAPUDILIKITHBCE

    Жыл бұрын

    ya even i got that doubt and what i thought is there will one big blockchain like bitcoin where every company can participate there. but if every company has one blockchain then it is nothing but a database isn't it?

  • @imrankhansamir4901
    @imrankhansamir49012 жыл бұрын

    1:15 customers are willing to pay premium for transparency

  • @malluk4127
    @malluk41272 жыл бұрын

    Honestly, I been hearing this for about 2 years now. However, I don't think we have moved the needle much.

  • @chiapagringa
    @chiapagringa2 жыл бұрын

    After watching this video I still have no idea what blockchain is all about.

  • @gattorama9615

    @gattorama9615

    2 жыл бұрын

    It is a technology. The world is more and more digitalized and “tokenized”. I like tech but I love Nature. Don’t wanna sacrifice the second, for the first.🌿🌲🌳🌈

  • @gattorama9615

    @gattorama9615

    2 жыл бұрын

    You will hear more about blockchain, from now on.

  • @randymartosoewito7892
    @randymartosoewito78922 жыл бұрын

    13 years later people still don’t understand the blockchain tech!

  • @imstevemcqueen
    @imstevemcqueen Жыл бұрын

    What happens if the power goes out?

  • @maheshsnair1
    @maheshsnair12 жыл бұрын

    "consumers willing to pay a premium for transparency" is the whole idea behind this drama. You can simply use and IPFS file system to create immutability and decentralisation can be done in much simpler terms.

  • @jothenater
    @jothenater2 жыл бұрын

    This makes me think of Vechain

  • @boxy3087
    @boxy30872 жыл бұрын

    these are the problems blockchain are solving right now. Not making a jpeg hyperlink and use it for money laundering

  • @leebishop7591
    @leebishop75912 жыл бұрын

    Great info (and Kirti is beautiful)

  • @bl5752
    @bl57522 жыл бұрын

    So this isn't about efficenies but about marketing products as ethical through blockchain. Once again, BC being championed as a solution to a problem it can't actually solve.

  • @szabolcskanyo9411
    @szabolcskanyo94112 жыл бұрын

    who are the people in the interviewees in the video? :)

  • @Vincent_C
    @Vincent_C2 ай бұрын

    Blockchain doesn't care if you are corrupted, corruptible, or un-trustworthy... it'll solve many of the worlds issues because it helps fix a major issue that plagues humanity... the severe lack of accountability.

  • @tjleonardokaela7159
    @tjleonardokaela71592 жыл бұрын

    Zambia 🇿🇲 ku chalo 🤭 The world in truly evolving and the Blockchain's nature also can cut costs for organizations. It creates efficiencies in processing transactions. It also reduces manual tasks such as aggregating and amending data, as well as easing reporting and auditing processes. Blockchain creates trust between different entities where trust is either nonexistent or unproven..

  • @matveyshishov
    @matveyshishov2 жыл бұрын

    Linus is flabbergasted every morning these days. Unbelievable how far the idea of git has come. Somebody heeds to show these farmers and corporations how to upload documents to github.

  • @gattorama9615

    @gattorama9615

    2 жыл бұрын

    Somebody needs to teach you how to grow your own food and take care of yourself and the Planet Earth🌈🌿

  • @pmisthekey6077
    @pmisthekey60772 жыл бұрын

    Meta Penguin Island will reveal on 02/21 4k 3D NFT, live in OpenSea

  • @kcdiazWTV
    @kcdiazWTV2 жыл бұрын

    If only people are honest with each other, then we wouldn't need this level of complexity added to our lives.

  • @DannyGan

    @DannyGan

    2 жыл бұрын

    If only humans weren't greedy, then there would be no wars 🤣

  • @faceshieldfacemask3561
    @faceshieldfacemask35612 жыл бұрын

    Scammers will also get so excited.

  • @mako5708
    @mako57082 жыл бұрын

    So one blockchain per industry? Or multiple blockchains? Per brand, per app, per manufacturer or company? Who will be the transaction validators and how will be rewarded? What about threat of centralization of validation - security? What will be the impact on the peace for end users? Doubly, there will be just 1 blockchain per any global supply chain - more like multiple of blockchains e.g. per brand or industry if any global international standardization will ever happen. If not, there need to be first a reliable and incredibly secure cross-blockchain mechanisms. The idea is great, but practical application is still far from now. Btw, if now are people complaining about Bitcoin miners consuming too much electricity, imagine global supply chains of multiple industries running on blockchains...

  • @fixieroy

    @fixieroy

    2 жыл бұрын

    Theres many blockchains. There wont be one blockchain as different chains have different use case goals. Energy use can be managed. For example. I heard that there was one city ( i dont remember if it was russia or near there)that was allowing bitcoin mining in regions where there was an excess of energy and some product waste. Besides i doubt energy will be a problem if the energy came from green sources.

  • @GULLAPUDILIKITHBCE

    @GULLAPUDILIKITHBCE

    Жыл бұрын

    ya who are the validatores? if there is one blokcchain for one company they can easily alter the information using 51%rule isn't it? and then how it will different from normal database

  • @WilsonRidge
    @WilsonRidge2 жыл бұрын

    I get that there is only one legit receipt on the Blockchain verifying a product, but couldn't scammers just copy paste that QR code onto a piece of clothing?

  • @MrJjuuaann11

    @MrJjuuaann11

    2 жыл бұрын

    Yes but that's where the ledger comes in. You can verify where the product came from. Vs just a qr code that says an id of the product with no history

  • @smkh2890
    @smkh28902 жыл бұрын

    It might be possible to register original photographs as the UR-document, so referencing it to prove validity, to expose alterations.

  • @hidingmyrealname

    @hidingmyrealname

    2 жыл бұрын

    or just look at the hash value.

  • @PedroWeissheimer
    @PedroWeissheimer2 жыл бұрын

    just correcting what the men said, Africa doesn't feed the world, I'm afraid, I'd say is South America, more specifically Brazil that takes this role.

  • @jimmyramos6296
    @jimmyramos6296 Жыл бұрын

    Blockchain technology is very effective for every industry

  • @redingtonramos8791
    @redingtonramos87912 жыл бұрын

    Blockchain is the future

  • @micheljordan123
    @micheljordan1232 жыл бұрын

    Song: Synchronicity - The Flight

  • @isaiasantoniolirianomadera4390
    @isaiasantoniolirianomadera43902 жыл бұрын

    A partir de hoy empezaré a aprender sobre Blockchain y cómo aplicarlo a nivel empresarial.

  • @drkhaliidduvallucas6424

    @drkhaliidduvallucas6424

    2 жыл бұрын

    do you know you can earn about 5times the money invested on cryptocurrency in less than 4 working dat

  • @shankar4005
    @shankar40052 жыл бұрын

    Supply chains post pandemic have become localised too. Still th usecase make sense.

  • @cedriccocoyer9574
    @cedriccocoyer95742 жыл бұрын

    My trading journey was a matriculation of high and low literally just like the market. You up and you down. Now I'm constantly up

  • @cedriccocoyer9574

    @cedriccocoyer9574

    2 жыл бұрын

    @Dorothy Ann young Yes, I think you know about her too

  • @grgoivica

    @grgoivica

    2 жыл бұрын

    I still wonder how she gets her analysis, I got profit of $40,000 with a capital of $4000 in 21 days of trading with her

  • @vivaamuraoecal5799

    @vivaamuraoecal5799

    2 жыл бұрын

    @Patricia P Wilson I also needed her info too 1'11 write her thanks

  • @blairclinebellsr7290

    @blairclinebellsr7290

    2 жыл бұрын

    Greetings from Los Angeles. I and two other of my friends tried her immediately we testified her performing wonders

  • @willangabra3057

    @willangabra3057

    2 жыл бұрын

    Mrs Lora is a proficient trader she uses both manual and algorithmic trading techniques while trading she is amazing and indeed professional in what she does

  • @martincireg3862
    @martincireg38622 жыл бұрын

    So wait the coffee guy runs his array on a public network, or he has just an database with block chain tech that all runs on his servers. Making the work that could do one server run on lets say 100 that are checking each other, genius. XD Great for him selling a database. That he has full control over.

  • @__Dave__
    @__Dave__ Жыл бұрын

    Doubt

  • @rodneyshalovesyou
    @rodneyshalovesyou2 жыл бұрын

    Can’t out cheat my taxes now

  • @GD15555
    @GD155552 жыл бұрын

    Get vechain vet while cheap

  • @nccamsc
    @nccamsc Жыл бұрын

    The entire world's GDP is 85 Trillion and supply chains alone are 50 Trillion?

  • @deep.space.12
    @deep.space.122 жыл бұрын

    Here's a bright idea: Let's have the poorest producers earning a couple USD per week track all their transactions with a smartphone and mobile data subscription and spend their down time to learn the technology or else they would be barred from participating in the supply chain! What could possibly go wrong?

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