Speaker 1: Welcome deep divers. Imagine a moment, a real turning point,
Speaker 1: not a war, but an idea that just completely shook
Speaker 1: the financial world.
Speaker 2: Yeah, and I'm challenging, you know, the whole concept of
Speaker 2: needing a central authority for things.
Speaker 1: Exactly, and it's set the stage for something totally new, a.
Speaker 2: Real conceptual earthquake, wasn't it, Especially coming out of that
Speaker 2: period of well deep distrust in the old systems.
Speaker 1: You hit the nail on the head. It made everyone
Speaker 1: ask who's really in charge here? Where's the accountability? And
Speaker 1: that fundamental shift that questioning is exactly what we're diving
Speaker 1: into today, the world of blockchain and decentralized applications DAPs.
Speaker 2: Right. It started with digital currency bitcoin being the obvious one,
Speaker 2: but now it's becoming this foundational layer for like a
Speaker 2: whole new generation of software. It's moving way beyond just money.
Speaker 1: Absolutely. Yeah. So our mission today we want to cut
Speaker 1: through the jargon, give you the really essential nuggets, and
Speaker 1: maybe uncover some surprising ways these technologies are changing things.
Speaker 2: Yeah, everything from banking to data sharing, even social media.
Speaker 2: The goal is that you walk away not just knowing
Speaker 2: the buzzwords, but actually getting why they matter. Why they
Speaker 2: matter to you.
Speaker 1: And we've got a great guide for this exploration the
Speaker 1: book Building Decentralized Blockchain Applications Learn how to use Blockchain
Speaker 1: as the foundation for net gen Apps by Shaheed Shake.
Speaker 1: Let's unpack this sounds good? So we hear these terms
Speaker 1: all the time, immutable, decentralized. For listeners already kind of
Speaker 1: following the space, what's the really revolutionary part about these
Speaker 1: Where do they genuinely shift the power?
Speaker 2: That's a great question because, Okay, at its core, blockchain
Speaker 2: is this immutable distributed ledger right records linked cryptographically peer
Speaker 2: to peer. But the revolution isn't just what it is,
Speaker 2: it's what it allows. Immutable means once data is confirmed,
Speaker 2: validated by the network, it's basically set in stone, can't
Speaker 2: be altered.
Speaker 1: Okay, locked in.
Speaker 2: And decentralized means no single boss, no central server, no
Speaker 2: company calling all the shots. The network participants are in control.
Speaker 1: So that's the power shift exactly.
Speaker 2: It shifts who holds the power and where the trust lies.
Speaker 2: Instead of, you know, blindly trusting a bank or a
Speaker 2: big tech company, you're relying on math, on cryptographic proof
Speaker 2: and distributed agreement.
Speaker 1: Moving from institutional trust to mathematical certainty. I like that
Speaker 1: powerful concept trusting the code, the network's crypto, instead of
Speaker 1: a corporation. And the book highlights this interesting mix of
Speaker 1: anonymity and transparency.
Speaker 2: Right, you as a user are anonymous, just identified by
Speaker 2: these long cryptographic hashes, these addresses. But every transaction, every
Speaker 2: piece of data added is out there publicly viewable on
Speaker 2: the ledger, so you get this verifiable proof of ownership
Speaker 2: or proof that something happened provenance.
Speaker 1: The strange paradox, isn't it anonymous users transparent actions?
Speaker 2: It really is. And the origin story just fascinating. You
Speaker 2: have to think back to two thousand and.
Speaker 1: Eight financial crisis exactly, global.
Speaker 2: Rest session banks, failing trust in those big institutions just evaporating.
Speaker 1: That was the climate, the perfect storm for a radical.
Speaker 2: Idea, precisely, and into that steps this anonymous figure, Satoshi Nakamoto,
Speaker 2: proposing this completely different system.
Speaker 1: And it wasn't just about creating Bitcoin the currency. It
Speaker 1: was a statement, wasn't it That message in the first block?
Speaker 2: Oh yeah, the Genesis block message the Times three jan
Speaker 2: two thousand and nine, Chancellor on the brink of second
Speaker 2: bailout for banks.
Speaker 1: Wow, talk about making a point right.
Speaker 2: It wasn't just a time stamp. It was a direct
Speaker 2: challenge to the whole traditional debt based financial system. Here's
Speaker 2: an alternative, peer to peer.
Speaker 1: Trustless marking a new era definitely.
Speaker 2: But you know, while Bitcoin felt revolutionary, the building blocks
Speaker 2: weren't entirely new. Ideas around distributed computing, cryptography, consensus, those
Speaker 2: had been around since the nineties.
Speaker 1: So Stoci's genius was putting them together.
Speaker 2: Kind of Yeah, combining things like mercle trees, which were
Speaker 2: used for secure document time stamping, and hashcash, an early
Speaker 2: proof of work idea to stop email spam. So Toshi
Speaker 2: combine these existing pieces into this elegant working system that
Speaker 2: solve the problem of digital trust without needing a middleman.
Speaker 1: Okay, So with those mechanics established, the book points out
Speaker 1: that not all blockchains are the same, they're different types.
Speaker 2: Yeah, that's important. You've got your public blockchains think Bitcoin
Speaker 2: Ethereum open door policy, anyone can join, read the ledger,
Speaker 2: submit transactions.
Speaker 1: And they use things like proof of work.
Speaker 2: Typically yeah, which needs a lot of computing power. That
Speaker 2: makes them super decentralized and secure, but also you know
Speaker 2: slower sometimes.
Speaker 1: Okay, then what's next?
Speaker 2: Then you have federated or consortium blockchains. These are more
Speaker 2: like a private club for a group of organizations. Ah,
Speaker 2: so permission is needed, right, you need permission to read
Speaker 2: or write. Since it's a smaller known group of participants,
Speaker 2: they tend to be faster and more efficient. Good for
Speaker 2: industry collaborations where you need some control but still want shared.
Speaker 1: Truth makes sense.
Speaker 2: And the last type private blockchains. These are usually run
Speaker 2: by a single organization just for internal use.
Speaker 1: They set all the rules, so most centralized.
Speaker 2: Definitely the most centralized of the three. They still get
Speaker 2: the immutability and crypto security benefits, but it's all controlled
Speaker 2: by one entity. Often used for things like internal audits
Speaker 2: or tracking goods within a company's own supply chain.
Speaker 1: So the choice really depends on what you need, right,
Speaker 1: that trade off between decentralization speed privacy.
Speaker 2: Exactly, it's a strategic decision, not just a technical one.
Speaker 1: Okay, so different types, but how does the basic process work.
Speaker 1: Let's say I want to send some crypto walk us
Speaker 1: through that transactions journey.
Speaker 2: Sure it starts with you acting as a node. A
Speaker 2: node is really just any computer running the blockchain software.
Speaker 2: Could be a laptop, could be a huge data.
Speaker 1: Center, so a participant in the network, right.
Speaker 2: And the more nodes, the stronger the network. So you
Speaker 2: initiate your transaction and includes an ID which is a hash.
Speaker 2: The sender and receiver addresses also hashes, keeping it anonymous exactly,
Speaker 2: no personal info, just those hashes plus the amount network fees,
Speaker 2: and your digital signature basically assigned hash proving it's you.
Speaker 2: You broadcast the same podcast it where to the network
Speaker 2: to the other nodes. Then special nodes called miners pick
Speaker 2: up your transaction along with others that are waiting.
Speaker 1: What do they do with them?
Speaker 2: They gather these transactions and put them into a potential block.
Speaker 2: Think of it like grouping checks to be deposited.
Speaker 1: Okay, a batch of transaction yep.
Speaker 2: Now to get this block officially added to the ledger,
Speaker 2: the miners have to compete. If it's a proof of
Speaker 2: work system like Bitcoin, they're racing to solve a really
Speaker 2: hard cryptographic puzzle.
Speaker 1: The hash puzzle.
Speaker 2: That's the one. They're trying to find a specific hash
Speaker 2: value for that block. And crucially, this hash includes the
Speaker 2: hash of the previous block in the chain.
Speaker 1: Ah, that's the chain part linking them together precisely.
Speaker 2: That cryptographic link makes the history tamper proof, so one
Speaker 2: miner eventually finds the winning hash. What next they showed eureka, huh,
Speaker 2: maybe they broadcast their new solved block, the proposed page
Speaker 2: for the ledger to the whole network.
Speaker 1: Everyone just trusts, no way.
Speaker 2: That's the key. Other nodes all across the network independently
Speaker 2: check the work. They verify the hash, They verify all
Speaker 2: the transactions inside the block.
Speaker 1: Okay, peer review exactly.
Speaker 2: And if a majority usually fifty one percent of the
Speaker 2: network power agrees yep, this block is valid. Then and
Speaker 2: only then it gets added to the official chain. It
Speaker 2: becomes permanent, immutable.
Speaker 1: And that fifty one percent rule is why attacking a
Speaker 1: big network is so hard. You'd need massive computing.
Speaker 2: Power, immense power for something like bitcoin. It's practically impossible
Speaker 2: for any single entity to pull off a fifty one
Speaker 2: percent attack to rewrite history. It's the power of that
Speaker 2: distributed consensus and the miners.
Speaker 1: They get paid for this work, right. The book mentioned
Speaker 1: bitcoin rewards big time.
Speaker 2: Originally it was more. Now it's like twelve point five
Speaker 2: bitcoin per block they successfully mine, Plus they collect all
Speaker 2: the transaction fees from the transactions included in that block.
Speaker 1: That's the incentive which brings us to consensus. How the
Speaker 1: network agrees. We mentioned proof of workw Right.
Speaker 2: Bitcoin's method computationally hard to find the hash requires tons
Speaker 2: of processing power and energy, but super easy for anyone
Speaker 2: else to verify it once found.
Speaker 1: Makes it secure again spam and attacks because it's expensive
Speaker 1: to cheat exactly.
Speaker 2: But the downside everyone talks about is the energy consumption.
Speaker 2: It's huge, which.
Speaker 1: Leads to the alternatives like proof of steak POS correct.
Speaker 2: POS tries to solve the energy and scaling issues of POWW.
Speaker 2: Instead of miners competing with hardware, you have validators. Validators, Yeah,
Speaker 2: they're chosen to create new blocks based on how much
Speaker 2: cryptocurrency they've staked or locked up as collateral.
Speaker 1: So they have skin in the game exactly.
Speaker 2: If they try to cheat the system, they get slashed,
Speaker 2: they lose some or all of their staked coins. Big disincentive.
Speaker 2: Ethereum's big move to proof of steak is a major
Speaker 2: shift in this direction.
Speaker 1: Interesting, and there are others BFT.
Speaker 2: Byzantine fault tolerance BFT. It's more a category of algorithms.
Speaker 2: The core idea is to make sure the system keeps
Speaker 2: working correctly even if some nodes crash or worse, try
Speaker 2: to send out bad information. Really important for those private
Speaker 2: or consortum chains where reliability is paramount.
Speaker 1: Got it? Now, Bitcoin wasn't just a new currency. The
Speaker 1: book emphasizes how it solved a really fundamental problem for
Speaker 1: digital money, double spending.
Speaker 2: Oh yeah, that was the holy grail. How do you
Speaker 2: stop someone from spending the same digital coin twice like
Speaker 2: copying an MP three file without a central bank watching
Speaker 2: every move?
Speaker 1: How did bitcoin crack it?
Speaker 2: It uses the blockchain itself as the referee. When you
Speaker 2: send bitcoin, the transaction goes into this waiting area the
Speaker 2: memory pool. Okay, miners pick it up, put it in
Speaker 2: a block. Once that block is confirmed by the network
Speaker 2: added to the chain, that transaction is final. The specific
Speaker 2: bitcoin outputs used in your transaction are marked.
Speaker 1: As spent, so if you try to spend them again.
Speaker 2: The network just rejects it. Everyone can see on the
Speaker 2: public ledger that those coins have already been It creates
Speaker 2: digital scarcity verifiably without needing a bank.
Speaker 1: It was ingenious, it really is. Okay, so blockchain secure, immutable,
Speaker 1: decentralized records, fantastic for money. But then comes this huge leap.
Speaker 1: The idea that the book sums up so well. Cryptocurrency
Speaker 1: is a small subset of the blockchain, like the email
Speaker 1: of the Internet.
Speaker 2: Yes, this is where it gets really exciting. The underlying
Speaker 2: tech decentralization, p top, consensus, anonymity. It's not just for money.
Speaker 2: It's a toolkit for building entirely new kinds of applications.
Speaker 1: A foundational layer for.
Speaker 2: Well, lots of things exactly, which brings us right to
Speaker 2: decentralized applications DAPs.
Speaker 1: So what are they? Fundamentally?
Speaker 2: Think of them as alternatives to the apps we use
Speaker 2: every day, the ones running on some companies central server
Speaker 2: DAPs run on peer to peer network.
Speaker 1: Instead, we've had PDP for things like file sharing for ages, right, yeah, torrents,
Speaker 1: things like that.
Speaker 2: True, but the key difference with many modern DAPs is
Speaker 2: that critical data, or at least the record of actions,
Speaker 2: is stored on the blockchain or a similar decentralized system.
Speaker 1: Giving it that immutability, that fraud proof.
Speaker 2: Quality, and often user anonymity. So the app might look
Speaker 2: familiar on the surface your interface, but underneath, the business
Speaker 2: logic and the data layer are built using cryptography and blockchain.
Speaker 2: It's a totally different architecture.
Speaker 1: The book uses an Instagram analogy.
Speaker 2: Yeah, it's a good one. Imagine a decentralized Instagram. You
Speaker 2: upload a photo. Instead of going to.
Speaker 1: Instagram's server, it goes somewhere else.
Speaker 2: It might go into decentralized storage like IPFS, the Interplanetary
Speaker 2: File System IPFS gives you back a unique hash, a
Speaker 2: content identifier for that photo.
Speaker 1: Okay, like a digital fingerprint for the photo kind of.
Speaker 2: Then the action you uploading that photo, represented by its hash,
Speaker 2: gets recorded on the blockchain permanently immutably.
Speaker 1: Ah, So the record of the upload is immutable, not
Speaker 1: necessarily the photo file itself floating around.
Speaker 2: That's a really crucial distinction. The blockchain guarantees the integrity
Speaker 2: of the action log It provides verifiable proof you did something,
Speaker 2: censorship resistant ownership of that interaction.
Speaker 1: Okay, that makes sense. So what tech actually enables these
Speaker 1: more complex DAPs beyond just simple transactions.
Speaker 2: The absolute game changer was Ethereum. Yes, it's the number
Speaker 2: two crypto, but its real significance was interesting The idea
Speaker 2: of a programmable virtual machine on the blockchain, program meaning
Speaker 2: you could run code on it, specifically smart contracts. These
Speaker 2: are like little programs self executing agreements that live and
Speaker 2: run directly on the Ethereum blockchain.
Speaker 1: Unlike Bitcoin simple.
Speaker 2: Scripting exactly, Bitcoin's script language is limited mainly for verifying transactions.
Speaker 2: Ethereum uses languages like Salinity, which are touring complete. Basically,
Speaker 2: they can run almost any kind of computational logic, so.
Speaker 1: You can build complex applications.
Speaker 2: Anything, games, financial instruments, governance systems, you name it. Remember
Speaker 2: Crypto Kitties, that early, crazy popular digital cat breeding game.
Speaker 1: Vaguely yeah, clogged the network, didn't it?
Speaker 2: It did, but it proved you could build non financial,
Speaker 2: complex applications directly on a blockchain. It opened the floodgates
Speaker 2: for deck development.
Speaker 1: That programmability is huge. You also mentioned IPFS for storage.
Speaker 1: What's so different about it?
Speaker 2: IPFS is really ambitious. It wants to replace HTTP, the
Speaker 2: protocol we use to browse the web now. Its core
Speaker 2: idea is revolutionary content based addressing.
Speaker 1: Okay, what does that mean?
Speaker 2: Instead of asking the network where is the file at
Speaker 2: this specific web address like we do now.
Speaker 1: Like asking for a specific shelf in a.
Speaker 2: Library, right, with IKFS, you ask what is the file?
Speaker 2: You ask for it based on its content, the file
Speaker 2: itself generates a unique cryptographic hash its content ID or CID.
Speaker 2: If the content is the same, the CID is the
Speaker 2: same no matter where it's stored.
Speaker 1: The book used that T shirt analogy, asking for a
Speaker 1: blue T shirt versus the T shirt on that specific rack.
Speaker 2: Exactly content based versus location based.
Speaker 1: Okay, conceptual elegant, But what's the practical advantage? Why is
Speaker 1: that better?
Speaker 2: Huge advantages. Files on ipfs are broken into smaller blocks,
Speaker 2: each with its own CID, forming the structure called a
Speaker 2: Merkle dag. It's like a graph where everything's linked by
Speaker 2: its content hash. This means you can pull different pieces
Speaker 2: of the same file from many different computers peers all
Speaker 2: over the world simultaneously. It makes file retrieval way more resilient,
Speaker 2: no single point of failure like a central server, so.
Speaker 1: Better for uptime and censorship resistance.
Speaker 2: Definitely. If one source goes down, you can still get
Speaker 2: the file from others, and it's much harder to censor
Speaker 2: because the content can exist anywhere. Data integrity is also
Speaker 2: built in because the hash verifies the content. Driving all
Speaker 2: this peer to peer magic is a library called lib
Speaker 2: two P which handles finding, geres, connecting, and transferring data.
Speaker 1: Okay, so we have programmable blockchains like Ethereum and decentralized
Speaker 1: storage like IPFS. But blockchains themselves aren't great databases for everything,
Speaker 1: right cost, speed, exactly.
Speaker 2: Storing large amounts of data or doing complex queries directly
Speaker 2: on something like Ethereum can get slow and very expensive
Speaker 2: due to gas fees. The blockchain excels at immutable records,
Speaker 2: not necessarily high performance general purpose data.
Speaker 1: Storage, which is where specialized decentralized databases come in.
Speaker 2: Precisely, the ecosystem has evolved. Take orbit dB. It's designed
Speaker 2: as a serverleist distributed peer to peer database that runs
Speaker 2: on top of IPFS.
Speaker 1: Built on ipfs SING. What makes it special.
Speaker 2: A key thing is its use of crdt's conflict free
Speaker 2: replicated data types. These are clever data structures. Imagine multiple
Speaker 2: people editing the same document offline. Crdts allow their changes
Speaker 2: to be merged back together automatically and correctly later without conflicts,
Speaker 2: even without a central server coordinating everything.
Speaker 1: Wow. Okay, that sounds essential for any distributed system where
Speaker 1: people are updating things.
Speaker 2: Concurrently, absolutely critical for p top databases. Orbit dB uses this,
Speaker 2: along with ipfs's published subscribe system to keep data automatically
Speaker 2: synced between peers.
Speaker 1: The book mentioned a dmail example.
Speaker 2: Yeah, a decentralized email app. You could see orbit dB
Speaker 2: sinking mail across your devices using IPFS pubsub maybe using
Speaker 2: public private keys for secure direct messaging between contacts, all
Speaker 2: P to P, no central mail server holding your data.
Speaker 2: It's a compelling.
Speaker 1: Vision, definitely. What else is out there decentralized databases?
Speaker 2: Well, there's big chain dB. This one tries to blend
Speaker 2: the best of both.
Speaker 1: Worlds blockchain meets traditional database.
Speaker 2: Kind of Yeah. It aims for blockchain features desecialization, immutability,
Speaker 2: assets controlled by earners, but also traditional database features like
Speaker 2: high transaction speeds, low latency, indexing, and queering data easily.
Speaker 1: How does it manage that?
Speaker 2: It uses tenderment for consensus, that's a BFT algorithm and
Speaker 2: actually runs on top of local manger dB instances on
Speaker 2: each node for the fast querying part.
Speaker 1: Clever mix. What's it good for?
Speaker 2: Think enterprise use cases, audit trails where you need proof
Speaker 2: but also need to search records quickly, supply chains, intellectual
Speaker 2: property rights, identity manage places needing both verifiable history and
Speaker 2: efficient data access.
Speaker 1: Okay, and then there's one that's quite different. Ties dB mutable.
Speaker 2: Yeah, TIESDB is unusual because it's a mutable, decentralized database.
Speaker 2: Most blockchain things focus on immutability. Here the owner of
Speaker 2: the data can actually change it.
Speaker 1: But it's still decentralized.
Speaker 2: Yes, it's run by a network of nodes operated by
Speaker 2: community members. They provide the computing power and storage, and
Speaker 2: they get paid in tie tokens as an incentive.
Speaker 1: Interesting model, So you get verified ID. Data is publicly
Speaker 1: readable but owner modifiable. What are the use cases?
Speaker 2: Things like distributed data stores where updates are needed, secure
Speaker 2: file sharing where you might need to update the file.
Speaker 2: Maybe social networks where users truly own and can modify
Speaker 2: their own content feeds, even big data applications where data
Speaker 2: naturally evolves.
Speaker 1: Right. Then there's Bluesell. Is that another database.
Speaker 2: It's more like a decentralized network of databases. Think of
Speaker 2: it as a marketplace for database resources, specifically for DAPs.
Speaker 1: A marketplace. Yeah.
Speaker 2: Developers, the consumers pay in Bluesell's token BLZ to store
Speaker 2: and retrieve data. Producers are network providers who offer their
Speaker 2: storage and compute infrastructure, and they earn BLZ.
Speaker 1: Tokens ah an incentive model.
Speaker 2: Again exactly. It aims to be secure, tamper proof, scalable,
Speaker 2: and importantly affordable, trying to avoid those sometimes high gas
Speaker 2: costs you see on ethereum. For data storage, data is
Speaker 2: replicated across different zones in the network. For availability.
Speaker 1: What's under the hood.
Speaker 2: It uses the Cosmos SDK to provide a no SQL
Speaker 2: key value store and relies on tenderment for that byzantine
Speaker 2: fault tolerant consensus. It's focused on providing reliable, mutable global
Speaker 2: data storage for DAPs.
Speaker 1: Okay, so we have all these decentralized options, but the
Speaker 1: book also includes something that's not decentralized, Amazon QLDB.
Speaker 2: Why that's a really important distinction to make. Amazon Quantum
Speaker 2: Ledger Database ULDB is centralized. It's fully managed by Amazon.
Speaker 1: So why talk about in this context?
Speaker 2: Because it borrows key principles from blockchain. It provides a transparent, immutable,
Speaker 2: cryptographically verifiable transaction log just like a blockchain. You get
Speaker 2: this verifiable audit trail where you can prove the history
Speaker 2: of data changes hasn't been tampered.
Speaker 1: With, but within a single trusted environment Amazon's cloud.
Speaker 2: Exactly. The insight is that many businesses want that immutability
Speaker 2: and verifiability for things like financial ledgers or supply chain records.
Speaker 2: But they aren't ready for or don't need, full decentralization.
Speaker 2: QLDB gives them those blockchain like benefits in a familiar,
Speaker 2: managed service.
Speaker 1: And it's easier for traditional developers.
Speaker 2: That's a big selling point. It uses a SEQL like
Speaker 2: query language called Particle and a data format similar to
Speaker 2: Jason Plus. It's built for enterprise needs. A set compliant highly.
Speaker 1: Available, so good for tracking financial credits, debits, manufacturing records,
Speaker 1: insurance claims, payroll things needing an immutable log inside a company.
Speaker 2: Precisely, it shows the influence of blockchain ideas extending even
Speaker 2: into centralized systems.
Speaker 1: Okay, let's make this more concrete. Time for some DAPs
Speaker 1: actually out there in the wild. First up, Open Bizarre.
Speaker 1: What's the deal there?
Speaker 2: Open Bizarre aims to be a truly decentralized eBay or
Speaker 2: Amazon peer to peer marketplace, solving what problem? The middleman problem?
Speaker 2: No platform fees taken by a central company, no central
Speaker 2: authority deciding what you can or can't sell, or shutting
Speaker 2: down your store.
Speaker 1: How does it work? Payments disputes?
Speaker 2: You set up your own store running the software. Payments
Speaker 2: are typically in crypto like bitcoin, and for disputes, it
Speaker 2: has this cool system of mutually agreed on escro where
Speaker 2: you can pick a neutral third person on the network
Speaker 2: to help resolve issues if they arise. It's all about
Speaker 2: direct peer to peer commerce.
Speaker 1: Interesting, okay. Next D two the decentralized YouTube.
Speaker 2: That's the idea. It's a video platform aiming to be
Speaker 2: fairer to creators and viewers, ad free, censorship resistant.
Speaker 1: How's it built.
Speaker 2: It uses a blockchain like Steam originally to record things
Speaker 2: like votes and comments and reward users with cryptocurrency DTC tokens.
Speaker 2: The actual video files they're stored on ipfs.
Speaker 1: Using that decentralized storage.
Speaker 2: Yeah, so creators and viewers can potentially earn crypto for uploading, watching, voting, commenting.
Speaker 2: Key things are no central moderation taking down videos arbitrarily,
Speaker 2: and creators theoretically retain more control and ownership.
Speaker 1: A direct challenge to YouTube's model. Finally, Ocean Protocol. This
Speaker 1: one sounds really ambitious tackling data ownership.
Speaker 2: It really is. It starts from that idea Data is
Speaker 2: the new oil, but right now that oil is mostly
Speaker 2: owned by a few tech giants. Ocean protocol wants to
Speaker 2: change that. It creates a decentralized marketplace for data. But crucially,
Speaker 2: data providers don't have to give up their raw data.
Speaker 2: They can list metadata describing their data set and set
Speaker 2: conditions for access.
Speaker 1: So consumers can find data they need.
Speaker 2: Right data consumers, maybe AI researchers or companies, can then
Speaker 2: pay in crypto to access or more cleverly, compute on
Speaker 2: the data without ever seeing the raw data itself, preserving privacy.
Speaker 2: Ocean handles the secure exchange and ensures compliance.
Speaker 1: That compute to data idea is powerful for privacy.
Speaker 2: What kind of uses Think training AI for self driving cars,
Speaker 2: using driver data without exposing individual trips, sharing sensitive medical
Speaker 2: data for research while protecting patient privacy, Building global data
Speaker 2: commons where information can be used ethically and providers are
Speaker 2: compensated fairly. It's about unlocking data's value while respecting ownership.
Speaker 1: Wow, Okay, what a journey we've taken. We went from
Speaker 1: the basic ideas of blockchain Satoshi's vision with bitcoin.
Speaker 2: Sure, how the tech actually works, the different types, proof
Speaker 2: of work.
Speaker 1: Proof of steak, then the huge leap into DAPs smart
Speaker 1: contracts on ethereum decentralized storage like IPFS.
Speaker 2: Explored that whole new world of specialized decentralized databases or
Speaker 2: but dB, bigchain, ebe, ties dB, bluesell, and even how
Speaker 2: blockchain ideas influence centralized systems like Amazon QLDB and.
Speaker 1: Wrapped up with real examples like open Bizarre, dtube and
Speaker 1: Ocean Protocol that are actively trying to reshape e commerce,
Speaker 1: content creation, and data markets.
Speaker 2: Yeah, you can really see the art, can't you. From
Speaker 2: trusting central companies to potentially trusting verifiable code and distributed networks,
Speaker 2: it's about individual ownership, verifiable truth.
Speaker 1: It really feels like a fundamental shift in how the
Speaker 1: Internet could work.
Speaker 2: And it's not just you know, abstract tech talk. This
Speaker 2: is about you potentially reclaiming agency over your data, your
Speaker 2: digital interactions. It's about building systems without relying on intermediaries
Speaker 2: we might not trust, opening up new ways for creators
Speaker 2: and data owners to be fairly compensated.
Speaker 1: A move towards maybe a more transparent, equitable, resilient digital world.
Speaker 2: That's the hope, that's the promise.
Speaker 1: Anyway, So as we wrap up this deep dis here's
Speaker 1: something for you, our listeners, to think about as we
Speaker 1: head towards this web three world, where the idea is
Speaker 1: you have more control over your digital stuff. What part
Speaker 1: of your digital life right now something controlled by a
Speaker 1: central company or platform would you most want to see
Speaker 1: transformed by a decentral life approach?
Speaker 2: Yeah? What frustrates you most about the current setup? Where
Speaker 2: could adapp make a real difference for you?
Speaker 1: Definitely something to ponder. Thanks for joining us on the
Speaker 1: deep dive.