ALERT: Blockchain Disasters Incoming

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Published on December 17, 2018
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It’s not exactly breaking news to hear that big name companies are interested in using blockchain technology. Or that these same companies are fast to lock down patents for their own implementations of this new technology.
fortune.com/2018/06/19/blockchain-patent/
Bank of America is leading the pack with the number of patents they’ve filed for and accumulated, but they’re certainly not alone: Xerox, American Express, MasterCard, IBM, Nokia, Walmart and Alibaba are in the race to patent the crap out of their version of a blockchain.

As one Marvel super hero’s uncle once said, “With great power comes great responsibility”.
In this case, I’ll be referring to the permanence that a blockchain can provide and solidify in regards to transparency of transactions. We’ve already seen this power wielded for the good by way of Bitcoin and a few other cryptocurrencies.
But this power can also be abused.
In the instance of communications giant, AT&T, a blockchain can be used to lock in very personal data so that they might be able to study the long term trends of individuals across multiple social media platforms. Right, so my initial, knee-jerk reaction to this is “Wow, that is invasive and scary.” Second thought, “Wow, they found a way to make even more money from peoples personal interactions online.”
I can’t wait to see how they spin this so that the sheeple will think it’s for their benefit.

Next let’s take a look at the other aspect to this scenario of big centralized companies taking something like blockchain technology and slapping patents on their bright ideas of using it for their gain.
Keep in mind the spirit in which this technology was created. I hope that concepts like collaboration, information sharing, and open source come to mind. Let’s be clear that patents are the antithesis of the movement that brought us this technology in the first place.
I’ll be gracious here and go a bit “soft” and forget this fact about the beginnings of Bitcoin and blockchain technology and the fact that these companies adoption of blockchain tech is laughable for those who have strong opinions on these things.
So never mind all of that, because all of these companies are so fast to slap patents on their blockchain “bright ideas” they will completely miss out on the beauty of sharing their ideas, exploring other options, see what works and what doesn’t and having the ability to apply different ideas to their framework, we should feel bad for them.
They will be left in the dust.
So happy to cling to their old ways of control while others will inevitably spring up and emulate the words of
Bruce Lee, “…Become like water my friend.” These open source projects and platforms will have the ability to pivot, to absorb, to contribute to the bigger ecosystem of open source projects. They will be the ones to help build a more robust, creative, and innovative future. These outdated giants seem to be happy to cling to their beloved patents, which unfortunately for them, will only anchor them in one spot, not move them forward.

I introduced this all with a comment about power and responsibility. Blockchain technology is great but I believe its use with cryptocurrencies in particular is what will prove to be most empowering and freeing for those who seek it. So much can be realized if we pay attention to how this technology is used. Intentions and follow through are the indicators to which you should pay sharp attention; particularly the follow through. Actions speak louder than words and when it comes to how blockchains are used, those actions become immutable.

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Category :  Media A
Tags :  Blockchain.io (BCIO)
  1. David

    The ripple has started. nice video

  2. This video is completely nonsense! Blockchain technology is a very inefficient way to stock information… If the target is to collect people data, you can do this more efficiently with a normal database.
    Blockchain is useful only to create decentralized systems, and this means no central governance and a distributed power balance in society.
    Stop spreading nonsense FUD!

  3. All crazy money hungry bastards . Nobody get my money no no no you suckers.

  4. who are the 10 dickheads who gave this a thumbs down? think i found your ex boyfriends heidi

  5. N B

    Your views seem extremely biased … Bitcoin is not for the good, it is very similar to a Ponzi scheme, except you get to own worthless junk while others steal your money … and being able to track what people do using Blockchain is one way to prevent fraud, tax evasion and other criminal activities. There is no loss of privacy because its computers that do the monitoring and action taken only when problems are detected. Ideally we need government to take control of the monetary system and not a private organisation like the FED. Then the voters can replace them if we don't like what they are doing.

  6. ”When you have created it all,you don’t need a patent”******************GOD

  7. No company linked blockchain means a damn thing but to what that company is doing.

    The entire philosophical genesis of Bitcoin was decentralization and proofs (work or stake). Any company that inserts itself into a blockchain with freeze features or fancy bullshit that they control in any way is antithetical to the essence of cryptocurrency and has no future outside their customer ecosystem.

    The banks are sure desperate aren’t they? Way behind the curve. I only trust crypto that banks hate or crypto that impedes upon their legacy business. This is why I believe XRP, XLM etc are scams. Any crypto with “partnerships” is a scam.

    When smart contracts get designed at a level where they are à la carte, that is, to a level one can be dragged and dropped is when banks are in deep shit. Global crowdfunding, lending, financing, import/export busywork, legal paperwork etcetera…it all changes. You walk around with a fu€kin bank in your pocket that no government can seize or fu€k with. Cardano seems to be leading the pack with their insanely ambitious crypto project but most will follow whatever the state-of-art is if it can scale. Bitcoin might always just be a digital asset and not a currency—a store of value.

    Imagine the disaster authoritarian governments will face when global crowdfunding becomes commonplace. Phucked.

  8. Kermit

    Patents are the only reason western society took more then 10 years to get this bad since 1800. These billion dollar corporate types fucking everyone now didn’t invent anything, that’s why it took them 200 years to slowly consolidate all the power and wealth through pure political corruption of existing free market regulation so they could just outspend everyone now. Otherwise we’d barely have got the model-A off the ground before 1 world monetary domination was accomplished. Patents may be used as mostly evil now, but they were the only thing allowing 100s of years worth of inventors to profit off their labour and innovations for the last 2 century’s 1st.
    Crypto and block chain are a cool sounding theory but so far have done precisely ZERO good in the world and have the potential to be the worst thing to ever happen to the balance of economic power if this amazing freedom technology is 100% reliant on the amount of control you have over the Google or Apple operating system on your devices. It doesn’t matter what Crypto is or could be. It will be whatever google and Apple allow it to be through there devices.

  9. Relax about calling everybody “sheeple” and being all anarchy… it’s daft

  10. LOVE your perspective on things. In the future, corporations and the "msm" will try to downplay the importance of blockchain, while secretly behind closed doors, implement their evil schemes for more control (like what was discussed here). When humanity fully realizes the power of freedom with blockchain, the banking dynasties will come crashing down. I can't wait until that day.

  11. A decentralised system cant be stopped buy regulation and patents, the problem is that companies can't use it. But ETH and BTC are open source?

  12. The Patents are nothing more than Leverage tools by these Companies to slow small startups from gaining a advantage in certain fields that pertain to their Business .Some of these companies started their patent process as far back as 2015 and 2016 Bank America has Hundreds Now ,Nothing more than Big Business trying to Kill the Little Guy from Making it Big with their Hard work and Ideas Great Video! Safe Travels Happy Holidays Merry Christmas and a Wonderful New Year to you & yours

  13. good info, nicely presented. thanks

  14. Amen. Beautifully done. Consider it shared! Thank you.

  15. I have learned something today…. sheoples. Amazing.

  16. Boshman

    Great stuff Heidi. Nothing surprises me anymore.

  17. The cypherpunks are incredibly smart people who created revolutionary technology, but they did not think to patent or create trademarks as that would be immoral. Now parasites seek to profit from their hard work. In this world there are those that give openly and those that only take for themselves. When you make your next purchasing decision, keep this in mind and consider who it is you wish to see thrive…

  18. You deserve more likes for spreading such an important idea. Many thanks and keep up the great work

  19. Your 'Leaders' have sold you down the River long ago and because you do not hold them responsible? You will pay.

  20. Central Planning will have its way. This is what ALWAYS happens when the people no longer can fathom how a system works. People are now far to 'sophisticated' to function in a healthy way and they will pursue a carnival Life until the end…I would not pretend to define you, each person only has the power to define themselves…

  21. Patent Law is the basis for 'Modern Entitlement' and the vessel for the 'new Royalty' Class in every sense of the term… In this way we will be relegating the masses of 'Publicly educated' subhumans to their fates…and they will learn to "like it." There is no struggle and no self-chosen fate. They are now 'victims' and we will 'help' them. "Everything in its right Place…"

  22. "Patents are the Antithesis of blockchain." No truer words have been said…

  23. Exactlyyy!!! We have to stay vigilant! Never forget why we created bitcoin in the first place.

  24. Blockchain will either free Humanity from the shackles of our corporate oligarchs or it will enslave us even further.

  25. shoaib

    Ali baa baaa you sexy bitch 🙂

  26. hr 777

    THANK-YOU FOR THIS HEADS UP HEIDI (WOW)

  27. hr 777

    banks want to close the open source (banks anti-open source) the open source is destroyed when you slap patents on it (slaver banks are destroyers of creativity and freedom ….want to be a bank slave? abandon crypto principles on why it was created? wow slave to the bank anti what crypto stands for) dont be a sheep WHAT A DISASTER !!!!!!! This is against everything crypto stands for

  28. Lets start a crypto school so people can learn. But it has to be fun right?! Cool video, thanks

  29. Very good points. More with More. Greed needs to go bye bye.

  30. It is a very bad thing for crypto. Countries are working on theirs. It is open source. This is the weakness of crypto . At one point it was its great strength. Ive been on the sidelines. I wait for the knife to hit the ground. Never catch a falling knife. By the way have I ever mentioned that you are one hot tamale ?

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