The Business of Blockchain: Videos and Key Takeaways

Business of Blockchain
This past April, I had the privilege of attending The Business of Blockchain event that was put on by the MIT Media Lab in Cambridge, MA. The event was a one-day conference examining the technology, ethics, and impact of blockchains. If you are a reader of our blog, you know that CRT has been focusing on practical use cases for blockchain in real estate over the last year and half.

The goal of the event was to meet pioneers in the field, gain business advantages by learning more about the technology and ultimately learning to separate real opportunities from the hype. This event was incredibly useful as it helped clarify which changes blockchain technology will be making immediately and what’s still far off in the future. A reoccurring theme of the day was how blockchains can help provide and guarantee security, identity, and ownership while still operating at the speed of the internet.

Recently, MIT has published videos from the event and I would like to share three of my favorites as well provide my key takeaways from each talk.

Blockchain: Unlocking the Power and Potential

Brian Behlendorf

Brian Behlendorf is executive director of the Hyperledger Project. Behlendorf was a primary developer of the Apache Web server, the most popular Web server software on the Internet, and a founding member of the Apache Software Foundation. He has also served on the board of the Mozilla Foundation since 2003 and the Electronic Frontier Foundation since 2013.
From the video:

  • Brian shares the exact moment of when he realized the potential for blockchain technology. His “Ah-Ha” moment came after hearing of a land title project in Honduras that was being started to protect land ownership through decentralization of records.
  • In recent history, the digitization of systems has led to the centralization of systems. Brian explains how permissioned ledgers can begin to re-decentralizing how these systems work.
  • Brian then goes on to describe the opportunity and benefits that will come from the transformation of the traditional hub and spoke models to ledgers, and specifically how the roles of intermediaries in those models will shift over time.

What Could Go Wrong? When Blockchains Fail.

Emin Gün Sirer, Cornell University

Emin Gün Sirer is an associate professor of computer science at Cornell University. His research interests span distributed systems, security, and operating systems, with a particular emphasis on digital currencies and self-organizing systems. He runs the popular blog Hacking, Distributed.
From the video:

  • Emin Gün talks about what can happen when people and companies apply blockchains in a manner that is at odds with the science that is behind them. Setting the stage for his talk, Emin covers the history of how civilizations track wealth as well as how validity, immutability and apply to blockchains.
  • In recent years there have been a number major failures based on poor implementations. Emin goes into detail about the attack on the Ethereum based smart contract, The DAO, and how it was exploited for over $50 million dollars.
  • Emin warns audience members who are interested in running private permissioned technologies. These systems are built relying heavily on the fact that the network will be resilient to attack as long as the nodes fail independently.The problem here that many implementations that we are seeing today have every node on the network running the same code, making them al susceptible to the same vulnerabilities. Emin suggests the concept of N Version programming as a possible solution.

Transformation at Scale: Building Tomorrow’s Financial Markets Today

Amber Baldet, J.P. Morgan

Amber Baldet is the Executive Director, Blockchain Program Lead at J.P. Morgan. Established in 2015, J.P. Morgan’s Blockchain Center of Excellence sets a comprehensive blockchain strategy for the Corporate and Investment Bank, while also developing cutting edge technology, curating Strategic Investments, and performing client outreach.
From the video:

  • Amber explains what the future of JP Morgan’s client services could look like and what that means for their product offerings.
  • She goes on to explain how even though her company is focused on investment banking applications, they must be built with the same ethical design standards as blockchains inorder to avoid very imbalanced systems.
  • Amber finishes her presentation with a quick overview of JP Morgans first open source software product, Quorum, that allows for private and secure transactions on a public ethereum blockchain.

If you are interested in learning more, click here to view all the videos from the Business of Blockchain Event. I’ve also included links to all of NAR’s research below.


NAR Resources

White Papers:

Projects:

Previous Posts:

External Resources

Blockchain Solutions:

Facebook Live Office Hours: Live from Midyear 2017!

Last week, the team headed to the NAR Legislative Meetings in DC. Our non-traditional office hours served up a tour of our booth. It was great to see so many members at the booth, as well as at committee meetings and forums. We hope to see you all at the NAR Annual Convention, right in our hometown of Chicago, this November. As always, to join us live on Facebook, like our page and receive notifications for our live videos!

Facebook Live Office Hours: Live from Midyear 2017! from CRTLabs on Vimeo.

Debuting at the Midyear Meetings!

This year, we’re excited to have four members of the team heading down the the Midyear Meetings in Washington, DC, to show off some of the projects we’re deeply invested in and to talk one-on-one with members about smart home, smart community, and smart city initiatives. These meetings are a great way for REALTORS® to check out the legislative arm of the National Association of REALTORS®, network about important issues facing REALTORS®, and to check out some of the things various groups at NAR – including CRT Labs – are working on. We’re focusing on three major projects currently with education, advocacy, and innovation in mind.

Midyear Meetings Registration

A view from the Midyear Meetings

We’ve talked about all three of these projects before, but we’ll be on hand to update members on the progress of our Indoor Air Quality Sensors/Home Automation suite, our Smart Home Simplified series, and our first Pocket Guide to Cleaner Air. We have materials about each project for you to take home, as well as a variety of CRT Labs swag including stickers and buttons! To find out more and talk to the team, stop by the NAR Booth, #1707, on Wednesday 5/17 from 10am-3pm or Thursday 5/18 from 1pm-6pm. We’ll also be attending a variety of meetings, including presenting at Data Strategies, eBITS, and more. For a full schedule, check out our Office Hours, where Chad breaks down all the great forums available for members to attend.

We hope to see you at one of the many events scheduled this week in DC!

Facebook Live Office Hours: Midyear 2017

Some of the CRT Labs team is heading to DC this week for the NAR Midyear Meetings; find out where you can find us, as well as great information about the meetings themselves, in last week’s Facebook Live Office Hours! As always, join us on Fridays at 3PM Eastern on our Facebook Page when we go live. And come back tomorrow to the blog, where we’ll cover some of the materials we are bringing to Midyear!

#016-Things Thursday: Cleaning the air without planting trees and more

An image of a product called CityTree, which has a park bench on each side and a 15ft wall of plants attached to both benches.

CityTree by GreenCity Solutions is an IoT device that monitors and cleans the air with plants.

In this week’s Things Thursday, we have a lot for the future, but also a lot focused on health. What if some devices

  1. Disney Research’s technology could transform IoT landscape (via Android Authority)
    Disney Research is one of the premier IoT/emerging technology labs in the world. They’ve got offices in Switzerland, Pittsburgh (in partnership with Carnegie Mellon University) and, of course, California. You might be surprised that Disney is doing scientific research, but when you think about the theme park business, it makes sense. Disneyworld and Disneyland are like miniature cities. So, from the lab comes another cool project from them. They’ve figured out how to reduce the power and improve the connectivity of IoT devices without an antenna. This is important for sensors that may have little to no external power options. They’ve also done research on powering devices without traditional power sources. Keep an eye on them.
  2. Microsoft Research’s ‘Emma Watch’ helped a Parkinson’s patient write again (via Wareable)
    Pretty amazing work from Microsoft Research. Parkinson’s wreaks havoc on your central nervous system and can make everyday activities a challenge. A researcher at Microsoft is building a device to reduce tremors for people living with Parkinson’s. In order to help people write or draw, the watch has tiny motors that vibrate on the patient’s arm, disrupting the feedback loop of the central nervous system. It’s pretty amazing. Click through and watch the video.
  3. Connected trees will be scrubbing the air in a city near you soon (via ReadWrite)
    Smart cities will not just be connected and gathering data, but they will help cities perform better. GreenCity Solutions are building these amazing benches that have plants and sensors embedded in them. They claim that their benches can filter the same amount of air as 275 planted trees. This means less watering needed, but the benefit of filtration from the plants is pretty great. Currently, CityTree is only in the European market and they have plans to expand to the US in late 2018. Even still, it’s a great example of how to green a space and provide some seating options. To find out more about why smart cities matter to REALTORS, check out my post on Building Functioning Cities.

That’s all for Things Thursday this week. Have questions? Want us to cover something? Let us know. You can follow us on Twitter @crtlabs or Facebook