Speaker Report
The Great Brent Gerrard Block-Chain Bitcoin Artificial Intelligence Show
In this week’s presentation, member Brent Gerrard ditched all thoughts of power-point, opting instead for interactive drama using real live actors from his captive audience to explain the concepts of Block Chain and Bitcoin. Virtual became reality as monopoly dollars were exchanged between himself, Banker Bill, President David and Bit-player Lindsey showing the Block Chain process in action. Directed by Brent passwords were whispered into the ears of the receiver between each transaction under strict instruction they were to remain confidential.
If I understand correctly, a Block Chain is a shared password-protected database comprising chains of relationships in which transactions are made only by those within the relationship. At each transaction a new and separate password between those in the relationship is established. The series of relationships (chains) forms a block. The underlying premise is based on the centuries old banking and ledger systems founded on truth and trust.
And guess what, our friend the internet records each of the transactions.
The key to the system of transactions is that they do away with the need for an intermediary ie. a bank. You know how your everyday, government-based currency is reserved in banks? And that you need an ATM or a connection to a bank to get more of it or to transfer it to other people? Well, in the digital world there is cryptocurrency (digital money/bitcoin) effectively doing away with need for banks and other intermediaries altogether. Exchanges using Block Chain are peer-to-peer.
Although it may seem that Block Chains exist only as theory in the cyber-world, they can in fact be applied to real-life situations, for example in shipping and for land transfers where a system of agreements (Smart Contracts) can be coded based on the Block Chain.
Here is where you’ll need to consult with Brent should you wish to learn more. It was at this point he produced an unlabelled ‘can of worms’! Brent, please forgive me if I’ve mis-reported – I was tempted to stop after the first paragraph.
Brent’s lively presentation was genuinely appreciated for the audience interaction it afforded and his sage warnings to would-be dealers.
Club Reporter
Ros Fogel
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