In Episode 5 of The ICO Radio Show, Barry
answers questions posed by journalist and “curious novice” Michelle Rodger.
Michelle and Barry cover: what a
cryptocurrency is; where its value comes from; why cryptocurrency seems to be
male-dominated; examples of blockchain in action; ICOs; regulation around the
world and how blockchain technology will transform the economy.
Key Takeaways from this episode:
[1:30] introduction to Barry’s inquisitor: journalist Michelle
Rodger is a “curious novice” when it comes to bitcoin, cryptology and ICOs –
and her trepidation when it comes to going down the rabbit hole.
[3:29] in the simplest terms possible please, what is a
cryptocurrency?
[4:30] who is or are Satoshi Nakamoto? What is the double
spending problem and how does Blockchain technology solve it?
[8:16] there are now thousands of cryptocurrencies.
[8:36] where does the value come from when a cryptocurrency
is born? How can Bitcoin be worth billions?
[9:33] a thought experiment about the value of money.
[11:48] what value does Bitcoin represent? It’s a complex
answer, but in principal there are just two things to consider.
[13:50] is it too late to buy Bitcoin now? What about
volatility?
[15:40] Ethereum: more technologically advanced than
Bitcoin, “programmable money.”
[16:37] Bitcoin in particular but cryptocurrency in general
is clearly male-dominated. Why?
[18:45] Some examples of blockchain in action:
record-keeping; Filecoin turning a one-sided market into a two-sided market;
fractionalisation to take the sharing economy to the next level.
[23:28] More money by far went into ICOs last year than the
whole of venture capital. But what are ICOs? How many have there been, how much
do they raise, who is tracking the data?
[26:40] which sectors are particularly embracing ICOs?
[27:15] how crowdfunding and ICOs relate and the “sweet
spot” for ICOs.
[29:34 ] what are regulators doing, or thinking of doing,
about Bitcoin, cryptocurrencies and ICOs? Vast differences around the world in
approach, from embracing potential to making what Barry describes as insupportable
statements, to taking a “wait and see” approach.
[34:40] Barry champions the message that regulation is there
to stop fraud, not to stop innovation, and innovation is crucial and should be
supported.
[35:30] Gibraltar’s approach to regulation and the creation
of the Gibraltar Blockchain Exchange and the Rock Token.
[41:20] what kind of a world are we headed for? Michelle
posits that we live in a society that is very unequal, where the existing
institutions have all been built on that idea of win or lose, of “in order for
me to win, you’ve got to lose”. How does Barry see Bitcoin, blockchain and ICOs
changing that?
[43:43] should blockchains that relate to public services be
private or public? Just about every bank in the world has their own blockchain
lab and they’re working on private blockchains, not public ones, by and large.
[45:31] business owners need to consider how blockchain
technology will transform the economy. When the web and e-commerce came along,
the people who did best tended to be those who were curious about it and
started understanding its possibilities early. There’s an opportunity and a
threat.
[48:30] Coming up on the show, wrapping up
and have you got a question? How to get in touch.
Mentioned in this episode:
We want your questions, so please go to icorad.io and click
the “ask our experts” button
The Gibraltar Stock Exchange: https://www.gsx.gi
The Gibraltar Bitcoin Exchange: https://gbx.gi
The Rock Token Public Sale https://gbx.gi/token-sales
Get in touch: podcast@icorad.io
