Blockchain - The Engine of the Next Financial Revolution | Mauro Casellini | TEDxVaduz
What will be the engine of the next financial revolution? Mauro Casellini speaks in his TEDx talk about the potential that he sees in blockchain technology. He explains how complicated today's financial infrastructure is based on the use case of payments and talks about the opportunity which this newer technology will deliver. In his talk he simplifies the functionality of the blockchain technology which clearly highlight its benefits compared to the traditional, heavily centralized financial infrastructure. Thanks to the distributed ledger technology, peer-to-peer transactions without any single intermediary will be possible. Today we just share information through the internet, but thanks to blockchain, we have finally the opportunity to share money and other asset with each other in a fully decentralized and digital way.
Mauro is working in the financial sector since 2006 and in the blockchain space since 2016. Thanks to his background in financial services and his technical affinity, he clearly understands the potential which the blockchain technology delivers for the financial industry nowadays. He has successfully implemented a corporate strategy in the field of blockchain banking for his former employer in Liechtenstein and works now as Head of Europe for a major blockchain financial service provider.
This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx Mauro Casellini is experienced in the field of Blockchain here in Liechtenstein. He is a Board Member of the Crypto Country Association and the CEO of Bitcoin Suisse Liechtenstein. Born and raised in Chur (Switzerland), he has been working in Liechtenstein since 2013. His first job in Liechtenstein was at Bank Frick where he developed a big knowhow in the areas of Banking, Fintech and Payment. This combination inevitably led to the topic of blockchain, where he recognized early that this technology will be the future technology for the financial industry. In his final role, he was Head of Blockchain and PSP, where he implemented the bank's corporate strategy in the field of blockchain banking and payment services. In 2019 he joined Bitcoin Suisse, the leading blockchain financial services provider from Switzerland, where he is now responsible for the European business and driving the company towards obtaining a banking license in Liechtenstein. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx
This talk is a fascinating exploration of the potential of blockchain technology to transform the financial system. Casellini's argument that blockchain can create a more efficient, transparent, and inclusive system is truly inspiring. It has the potential to empower individuals and level the playing field, giving everyone a chance to participate in the financial world. This is a complex topic, but Casellini's engaging presentation makes it accessible to a wide audience. I encourage everyone to watch this video and learn more about blockchain technology.
Amazing talk! Glad I got to see it live on stage. 😍
removing used blocks and its environmentally issues, High energy consumptions and lacks of knowledge in order to implementing this technology are still a big problem. it was a great speech.
His voice is lovely, wow. Thanks for the information.
Thank you Mauro, simple and great explained ! 🙂
Well done, it was great!
Thank you
10:32 BlockChain Technology ❤❤❤🎉🎉🎉
Awesome! Cryptocurrencies are here to stay! Lets gooo
I am afraid you did not clarify some crucial issues 1. in the blockchain model where does Maria receive the $100? Not in her bank account; is it in her blockchain valet? 2. If so and she wants to take the $100 in cash, how will she get it? 3. Every one in the blockchain gets every single record of the transaction. What do they do with it-they are not supposed to check or validate it. In this case, how does this help if, for example Peter did not have sufficient funds to transfer $100 to Maria? These are some of the questions I was hoping this Talk would clarify. Thank you.
Maria recieves $100 to her wallet which is on the blockchain. It goes wallet to wallet. If you want to take it out into physical fiat money she would have to transfer it via an exchange (e.g. Coinbase) to her bank account. The public blockchain can serve as a record for any purpose, e.g. Peter could not pretend he sent the money to Maria and blame it on the bank for messing up the transfer as either of them can just check the blockchain. Conversely Peter would be able to check if the money had reached Maria or not, etc. If Peter did not have funds to transfer $100 to Maria then he just wouldn't be able to do it. But Maria would be able to check for herself if he has the funds or not in his wallet (on the blockchain). Only certain people can validate transactions, there is usually a cost for doing so and in return these people are rewarded in tokens. E.g. "miners" on the bitcoin blockchain have to pay with power and get rewarded in bitcoin.
@@mikecorrcircus so what happens if the verifiers are corrupt or they are not available to verify transactions
@@kingco-bruh7271 there are various protocols in place for this. E.g. bitcoin uses the ‘proof of work’ consensus mechanism. Long story short; to validate and approve transactions you need to pay with electricity (by running miners to solve a cryptographic puzzle). If you validate correctly you get rewarded in btc, incorrectly you get nothing and spent money running miners for nothing. In order to corrupt the whole network you need to be in control of 51% of all miners which is practically impossi
learn the blockchain ans smart contract before asking these questions. and we do not need cash anymore in future
Does that mean that the miners know how many bitcoins every wallet around the world contain? Is there a privacy issue here?
Thanks Mauro - perfectly said. We took 98% of our monies out of US broken and Corrupt centralized systems and now redirected to decentralized last year. It was the absolute BEST DECISION we ever made. Most has been redirected to International Real Estate Fractional Ownership, the first Real Estate TOKEN on the blockchain having amazing potential in the future.
Can I buy bitcoin without fiat currency like US Dollar or any currency???? Also I want to send money from one wallet to another wallet address, I need money, so how that works???
Concordium $CCD uses a low transaction fees, stable in fiat terms paid in $CCD.
$BFYC !
But how do I even Learn more about blockchain
To begin with watch the youtube video 'How Cryptocurrency ACTUALLY works' by youtuber 'Mrwhosetheboss'. I have myself been watching videoes by youtube 'Coin Bureau' for more than a year - its the best there is out there. Have fun :)
When the banks get in that’s when the big mainstream rush will hit ! That’ll be a crazy ride.
Blockchain.. From a programmer's perspective, there's nothing conceptually about blockchain that can't be done already. Also blockchain won't replace "banks". All. Implementations will still require the same amount of trust in the party you're dealing with it. You really cannot make a case that systems on a blockchain will be more trustworthy or reliable.
Programmers perspective: From a programmer's perspective, it is true that many of the concepts behind blockchain technology can be implemented using traditional databases and data structures. However, the unique combination of decentralized architecture, cryptographic methods and consensus mechanisms used in blockchain technology provides a set of features that are not found in traditional systems. One of the key features of blockchain technology is its decentralized nature, which allows for a distributed network of participants to maintain and update a shared database without the need for a central authority. This decentralization allows for increased security and transparency, as well as the ability to create trustless systems. Another important feature of blockchain technology is its use of cryptographic methods, such as digital signatures and hash functions, to ensure the integrity and authenticity of the data stored in the blockchain. This provides a high level of security and tamper-resistance. Finally, the consensus mechanisms used in blockchain technology, such as PoW and PoS, allow for a decentralized network to reach consensus on the state of the blockchain, and to ensure that all participants have a consistent view of the data. In summary, while some of the concepts behind blockchain technology can be implemented using traditional systems, the unique combination of these concepts in blockchain technology provides a unique set of features that are not found in traditional systems. Replacement of Banks: The statement that blockchain won't replace banks is partially true, as traditional financial institutions will likely continue to play a role in the financial system. However, blockchain technology does have the potential to disrupt certain aspects of the banking industry, such as reducing the need for intermediaries in certain financial transactions and increasing transparency and security. Trustworthiness of Blockchain: Regarding the assertion that blockchain systems will not be more trustworthy or reliable, it is important to note that while blockchain technology itself is secure and transparent, the trustworthiness and reliability of a blockchain system depends on the implementation and the actors involved. That being said, a well-designed and implemented blockchain system can provide a higher level of trust and reliability compared to traditional systems, by providing a tamper-proof and transparent record of transactions and by reducing the need for intermediaries. Therefore, the key to the trustworthiness and reliability of blockchain systems is the design, implementation, and the actors involved.
XRP is going to revolutionize the global financial system. Some may remember it as Ripple
Ripple is a type of drink, watch the movie “forest gump” in the scene where lieutenant Dan and forest are celebrating the New Years he tells forest “let’s order another bottle of ripple”
Shiba inu to the moon!
i think they are making existing systems more complicated... Today we can send money 24/7 also. Making more authorities leads to extra burden on each other. This technology combines the concept of linked list and mesh topology, nothing more than this. And now again start research on security, easy access, cryptography in blockchain, authorization of partners, blah blah.... This drama is also fine for unnecessary b*****!
The statement that "today we can send money 24/7 also" is not entirely accurate. While it is true that some closed loop solutions like Revolut do allow for 24/7 money transfers, this is not the case for traditional systems or systems that involve a third party. In traditional banking systems, money transfers are often subject to processing times and may not be available 24/7. Additionally, cross-border money transfers in traditional systems can be subject to additional delays and fees. Blockchain technology has the potential to significantly improve the speed and efficiency of cross-border money transfers by enabling peer-to-peer transactions without the need for intermediaries. Furthermore, the statement that "making more authorities leads to extra burden on each other" is not necessarily true for decentralized blockchain systems. Decentralized systems are maintained by a distributed network of nodes, which reduces the need for centralized authorities and can increase security and transparency. Finally, it is true that blockchain technology combines the concepts of linked list and mesh topology but it also includes other technologies such as cryptography, distributed systems and consensus mechanisms, to achieve tamper-proof, decentralized and transparent ledger, which is a key aspect of blockchain technology.
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This is exactly why I bought shiba inu and dogecoin. We are going to the moon people
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Ffs I can’t listen to this voice