This is Etherify.io’s first blog post, and we’d like to introduce ourselves, and give a brief overview of Ethereum and our mission.
What is Ethereum?
In short, Ethereum is a decentralized computing network that makes enforceable agreements between any parties. This gives rise to a trust less and permission-less economy that transcends national barriers. It is a truly global world economy platform that radically empowers users and cuts out traditional middlemen and gatekeepers. It provides a level-playing field for the next-generation economy.
As Danny Ryan said in his “Ethereum in a Technical Nutshell,” Ethereum is “a decentralized, self-contained economy for transactional computation and related data.”
So let me posit my own one-sentence description of Ethereum
Ethereum is a global, computation-based economy where the same rules apply to everyone.
I guess there isn’t so much of a “WOW” factor in that explanation, but if you dig a bit deeper into it, and compare it to the economies to today, you’ll begin to see the finney drop.
Ethereum is global:
Wherever there is Internet, Ethereum is capable of running there. Light and mobile clients for Ethereum are in development that will expand coverage, wherever a smartphone is, Ethereum can also be. There is one global Ethereum Blockchain ( Timestamped ledger) that serves as the Commonwealth of consensus, information, and truth.
Global computation-based economy:
The Ethereum network runs on the “fuel” of the token Ether (ETH). This fuel is spent when applications on the Ethereum network execute code. If you’ve ever seen computer code running down a screen, imagine that for each line, the application must pay a certain amount of money to execute those codes.
These applications are the programs that run decentralized versions of applications that populate the centralized economy. Got a centralized app? There’s a decentralized Ethereum version for that, probably…or soon.
The same rules apply to everyone:
Imagine you are Google, Facebook, or the Federal Reserve. The power you have!
Owning search like Google does, you could try to sway a presidential election one way or another simply by manipulating the autofill in the search bar. Go ahead and compare duckduckgo.com and Google search autofills for “Bill Clinton is…” and the results speak for themselves. When the vast majority of search traffic flows through your engine, you can decide what people see, and thus, decide what people think. You could even restrict some search terms, or make some websites you don’t like completely invisible to search for whatever reason you like.
How does Ethereum Differentiate?
There is no way for one search engine to throttle search results while pushing others since there is no central chokepoint.
At its heart, a decentralized search on a decentralized network is all about free speech, and the free flow of information. The Internet is broken if Google is the ultimate arbiter of who sees what and why.
Facebook collects and sells your personal data to marketers and government agencies for profit. With technologies like uPort.me, an Ethereum tool that allows users control over how their online identity is used, this type of abuse would be drastically reduced.
The Federal Reserve can print money out of thin air to buy anything they want, even politicians to enact laws that keep them in power. It was Mayer Amschel Rothschild who once said: “Give me control of a nation’s money and I care not who makes the laws.”
With Ethereum, you can’t print ether out of thin air. You have to expend real computer resources to mine it (until Ethereum goes Proof of Stake) or actually produce goods and services that people want to buy. What a concept! And the laws in Ethereum are hard-coded. They are enforced automatically by computer code. No chance of buying a few key politicians to change the rules! You’d have to convince 51% or more of the network to do that.
Google, Facebook, and the Fed play by a different set of rules than everyone. Google gets to control the flow of information, effectively manipulating public opinion and denying who they don’t like their ability to be heard. Facebook can do with your personal data and privacy as they please, even profit from it! For the end Internet user, this is an abusive situation that must be remedied. Therefore, The Federal Reserve can print money whenever they like, choose who gets to spend it, and make a mockery of everyone else who has to “work for a living”.
Ethereum changes all of that.
Etherify is an Ethereum venture studio. First of all, we aim to educate people about the power of Ethereum to change and fundamentally disrupt traditional business models. By using the power of blockchain technology, we can innovate in a wide range of applications. Ethereum’s Turing Complete smart contracting language, Solidity, enables our developers to produce applications that can reach untapped markets and revolutionize old ones. In conclusion, our mission is to Etherify All The Things. Create a world where people can have enforceable contracts with each other without middlemen; to disrupt old business model paradigms that add little value to society; and to produce the next generation of decentralized applications, all built on Ethereum.
Etherify will achieve this vision in three phases:
- Education: We aim to increase public awareness of the power of Ethereum, through meetups, hackathons, blog posts, news articles, interviews, and word of mouth. It is essential to get people to understand the importance of this technology before they can benefit from it.
- Innovation & Disruption: We aim to identify specific use cases where Ethereum could vastly improve efficiency, user experience, cost, or other improvements not yet knowable. By working with stakeholders in the areas of Fintech, iOT, and others.
- Production: We aim to produce next-generation decentralized applications on Ethereum to solve today’s and tomorrow’s pressing needs.
For more information contact email@example.com
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