Just as the Internet is today, I do not hope that it will remain his Where we are just landed over the last ten, twenty years, the NEN network with centralized very powerful company and one reason for this is the way we like the technical So have developed architecture, the fact that in the background server sitting on the the users will ultimately served and what we try to do is ne new amount of to develop technologies that allow the Internet more basic otherwise build so all users ultimate equally have the right and can interact with each other

A major element for the reinvention is actually the fact that it is open source is developed That means anyone who wants to better understand what the software actually does, can the entire read source code So can read and also contribute to and improve the software In contrast, a lot of software that has been produced in the last 20 years as in the Wedding Microsoft was all closed source No one could really see what happened in the background and a key factor to the to make the Internet better visible in this sense is open source and in a larger Community to develop

That more developers can easily look at the source code on it, can see where there are problems, see whether in fact what the vendors say even that is what the source code does A goal that we currently have is just to develop the Internet new technologies safer and more decentralized Many people have probably heard of nowadays block chain This is a central part of what we call this a technology stack Block chain so to speak, what will map the business logic, will advantageously replace what is now is simply codifies how we interact on servers that way with each other

There are other protocols, called peer-to-peer protocols so the way the information no longer be exchanged via a server, but directly between users on the Internet And these are technologies that we develop in our company Parity Parity we founded a little over one and a half years Previously, my co-founder were employed in Ethereum project Ethereum was a great advancement for Bitcoin

Actually, the first major innovation after the Bitcoin protocol to eight or nine years had been developed And had not just to allow to the target financial transactions, but quite arbitrary transactions between users for which it needed no intermediary in the background Although digitization has changed many, many processes, so digitization has meant We do not carry more accounting on paper but nowadays there are just the databases Checking where a message comes or whether that is authentic, what we used made with normal signatures, is now digitized, with cryptography and earlier bill that was executed with the abacus makes today somehow the silicone Chip A lot has changed, but the fundamental thing that has not changed is ultimately this authority that these organizations have to decide and manage what belongs to whom

And that is what block chain has automated Block chain, so to speak, the rules automatically executed, on the other this organization, these institutions monitor that they are actually complied with and that is a very fundamental process or the organizations, institutions assume and because of this Fact because that can now be automated through technology, we believe the block chain Company may change very, very strong When we explain what Bitcoin and Ethereum are we often use the following analogy: Bitcoin is like a calculator, Ethereum is like a smartphone Bitcoin allowed to make an equally simple transactions to send money back and forth On Ethereum can build any application in principle

Ethereum very beginning was just a very loose association of developers This idea found exciting and have tried to implement this very idea in a platform and it was fascinating to see how many people through these ideas and also by the Fact that so many very, very intelligent people were also attracted inspired were there to make That was pretty impressive, like many countries, questions were and how easy very worked constructively together together to make this project a reality really will leave Most of our developers or actually all are very much driven by the large Goal that we pursue, just to make the Internet back then, actually decentralized to bring, where it should have been and not where we are today And that's really ne nice thing in such an environment to work even if we no voluntary organizations are but a commercial company The team has a very strong vision and just want things fixed, which we now call have problem on the Internet

In which one has already seen that block chain NEN has great potential to change things In particular, the wave of ICOs, which is to make a way crowdfunding, in which will block Chains exploited fundamentally shows that there is great potential for block chain The way to change how we work together along what used to be indicated by Middlemen was mediated, can now with technology directly and much much easier be implemented This is a point However, this has also shown that we are in many, many places in the technology have to change things, and these are things which we in the next three will work to five years and as long as it will do well not until Block Chain and similar technologies are actually mainstream, actually in a big way and manner of people are used and we the corresponding models, which used now Facebook was and became known as a great project you have just seen in the block chain area become

So these large scale Konsumerapplikationen is what probably we probably have to wait three to five years Block Chain nowadays days is already very powerful but still has a few problems need to be addressed So the number of transactions is very limited Certain way as you can actually guarantee privacy is very limited extent, certain types of "permissioning" So the way who ever can use the system at any level, that are issues on which we work At the moment we are developing a new platform, a new block chain that calls is polka-dot and is able to crosslink plurality of block chains with each other

So that's another problem that currently exists, although there is this Ethereum network and Bitcoin, but running at the moment all just next to each other and in fact, this to let Internet are the block Chains reality, it takes an additional protocol that these all networked and that's what where we currently operate