Broken Systems: Why crypto alternatives are inevitable

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

You can listen to Broken Systems: Why crypto alternatives are inevitable online on Radio and Podcast. Open the player on this page to stream the available audio.

Broken Systems: Why crypto alternatives are inevitable is an episode from Two Confirmations | Crypto Over Coffee by Block Brothers.

This episode is 00:28:32 long.

This episode was published on Feb 9, 2019.

Yes. Use the heart button on the episode page to add it to your favorite episodes list.

Yes. This page shows related episodes from Two Confirmations | Crypto Over Coffee when more episodes are available from the podcast feed.