Hello Hajo! Hi Volker! You've written about something in the current issue beautiful Buzzword block chain that's at the moment actually all the rage I'd say if not AI can then it is always blog chain and somehow seems that the panacea for lots of things be but what exactly is behind it and what makes for Matching Mug is why is this so great or so important this development because even the block chain as such is actually not that it was terrible and new not at all like that how should I say something revolutionary interesting is the block chain actually characterized that smart cards so-called invented by the need to understand perhaps only times a little bit to let blog already at all is is this is actually it's a distributed database okay diddy diddy two special properties has first, works by peer to peer network that everyone is participants each network node has always all the data at hand, it is not therefore only the data not as in a conventional distributed database so that no unknowing have sma on kloten 1 and 1 to z somehow but everyone has all data and the second is that the listings in this blog give the so- said blocks linked to one another by cryptographic deer are ensuring that data that once stood in the block stored are sure remain there and can not be changed which is particularly clear bitcoin is of course the most popular anyway Application example for block c but as you can see is actually just the So use bitcoin digital money and the digital coin is issued once and once the owner has changed remains with the owner of the original owner does not chance to take back somehow or so the only way to make this trust in this blog chain and that's what keyword trust is actually also where the woody where the block chain or her or tell me where he was was the hype around the blogs chain cometh that simply says the block chain creates out of itself through technical and cryptographic measures trust that means that in the financial industry where banks with emissaries of any securities cooperate where which traded share seem debenture is currently getting any trustee any intermediate taken in the game basically oversee that both sides adhere to their contract or as a part of the contract is imposed then, so therefore continue to be so as it is money paid into escrow accounts and then and what securities anywhere stored and only when the both is merged everyone gets back the other, and so on and that costs time and money and you believe the block 10 largely be able to save because you tell yourself okay the block chain creates just out of himself this trust that no one can protect the other and thereby you can give them these faithful intermediary as the saying goes, save and settle much faster and automatic transactions in the piece if I want to say so in particular automatic it goes yes, and it minimizes the error probability is not so only so that then someone still sits in between and maybe so to say something about pocketing my winning or so because it is so to speak, as a service provider as but the probability that doing any errors pass the is quasi then imagine also at eradicated as long as the block stand and the cryptographic algorithms and it all works this is all pretty sure, yes, but then presented the quasi implicitly suggests that already the the question is because actually so sure because you say that creates trust which is very clear that you're not a block somewhere can manipulate 10 that somehow not yet coming in must have to fully So clearly say about that once or transaction once on the blogs chain is handled and stored in the block and screen so to speak happens is the iss ewigkeiten for all that happens has a little bit so why must a matter that needs to understand exactly one I know think I've always said that the individual entries in the block chain are cryptographically linked graphically that is in each block is virtually the predecessor blogs and blog back in the cache of the previous space, and so on up to to the ninth hole back so that if because somewhere along the way something changes then all change successor, and this figure out of blogs is very compute intensive so The off after certain deep I should times if if if something does not lags or idea for six blocks when a subsequent action 56 citizen is virtually impossible that is to say in the internal blog jane the virtually impossible because even that's just an important something to do about it point would otherwise was ok those are blocks that are somehow cryptographically hang each other because one could first think yes God finally stop from the one I want to manipulate all back but if there were, to generate the computational work around these caches is so enormous that's almost a maybe but going because then explodes then to potentiate the whole year to go back and that makes it were this this intrinsic safety and trust from all aware, I have I think to some extent finally understood where she still is the it's actually great thing when it's nice when it bitkom blog So there for just as in the financial industry, etc Of course this put this other blogs 1 1 mostly private implementation where where that security is a bit manufactured differently but that's just too, so that's basic principle that everyone always accurate entry contains a reference to the previous entered and thereby it is necessary to from when when somewhere in the action of half the took place days hour or before if you want to manipulate anything because you would have 10 from then recalculate the entire block and is just as is said excluded by this so either the so-called work the is very costly or by other measures which the ensuring the but that will put them safely ok short at the very beginning already hast that the theme of smart kontrakt mentioned before in principle is yes but then, so to speak bitcoin or eat or whatever that's really not much else in the end those are in my contracts that I have given my money each and the other man money taken further and so on so well there but it is ultimately only ne passed about money to be paid when talking about a smart connect you can see actually always the opposite side does it for a lot of money too benefits flowing there is for example what I know is quite interesting to for example one auction platform which you could by a so-smart connect it is ultimately program code stored in the block chain the one can see, and every time when this tell me benutzerkonto what is hidden behind the concept understood as if the target of a transaction is provided then it is the code executed the ie if I is an auction is a pretty cool example then you can as you can find basically taken or or or or can the code which ensures that someone look at his money be the its use or be commanded to these contract in this country in shall refer the smart concrete This is money stored in the concrete at the same time you can but but then you can also make sure that someone is the outbid be money gets back that is in this code in it that happens automatically that is saved once, and happens automatically each time at each in which this transaction, the concerns this concept and then there's just one day a end-time point-and who then most commanded money is the money going in and the one who offered the goods gets the money and it even goes so far that even in these code so to speak, then encode the delivery of power if it is an electronic good is when it comes to for example about license key beautiful software or filmmusik anything that be represented digitally leaves or where you can enable digital access to then in This conflict also equal to deliver even goes so far that the one could imagine, for example, the sharing platform with which apartment rent something like that could airbnb could the landlord could the landlords say okay made by an electronic lock to the apartment he rented there and in the instant where money at this smart concept flows to this rental agreement sends the contract-the tenant Those key ie the code with which it comes into the apartment so so practically also the performance so long as it is digitally mapped so even the woman was making up the performance so automatically happened detected reliably protected against manipulation and understand this is actually what what this smart could garter makes a contract ok fulfills itself as arises Of course the question is what did you say this is good because you can always think perhaps there are times updates were, how shall this platform might work are error in the code the needs yes Update that is, in principle, would the whole then, too, so if I an update do then would probably all year in the are mapped in this smart contract as there was a update the and things are happening and then it is saved back in there or does not work then comes the platform there is the popular public platform for such things is the million since works so that a smart contract the code contains forever and ever since it cover anything when the in determining imagine had error you have to have to live with it terminate them has made at the remote new contract that is the as there is no there no chance of the contract is set is stored in the block and the code is is if he even say generates and activates not to change from private to platforms that a bit out of the use is different because so is quite popular platform framework, the so-called high culture well that's still a few holes something durable in any case of allude from one of the linux foundation more there is also smartphone estimates there but it looks a bit different because then you take the chain code and that is good so to speak, in the platform saved is that but that's then yes anyway for special applications as a blog jane is then not public but the what he is talking as a forwarding with their customer or a bench with her customer about it and consequently is also simply no idea option contracts or speditions contracts or whatever the platform is useful by outset of the kurt the then of course you can change as you have to then just among the operators eventually find away how to how to do that so you can see but that does are actually opportunities both what one either says okay we will make the code in detail in the transactions then it is then it is fixed and the witness is thus instantiated as it is activated or you just say we put this code in the blocks into the installation as it were, then it is but then these are not No blog chains that are public and are then also in Lippetor or or environment where you from a certain trust between the operators so then there are at customer and supplier or contractors anyway the yes function without trust like scarfed there so it is also sufficient not if the if the contract itself may rely so radiates okay ie now expects that that actually such a revolution is the quasi all digital stores sometime now handled by something actually or is that it is then too complicated the topic cement there is much hype there is much tried a lot The examples again discarded which one or or examples where someone actually says we have here and we the blogs make it really businesses or our wraps operational our are actually about from which are still very few and far between it mostly pilot projects research projects evaluation scenarios My feeling is that still a few years needs to be the actually explored is there of course there is, of course, simple problems that are inherent when you tell them this guarantee that something-ago can not be changed depends is so together that much wasted computing power that is to be taken literally, the bitcoin blog chain currently burned approximately the author of a nuclear power plant that is appreciated so what experts that is at some point there of course is the end so maybe you do it not go so those are those are things that one needs to the that must be because you have to find solutions for the same for the fact that these blogs only growing anger and there will never be in it what deleted that is yes that's a few years well but after ten years after 20 years no idea is that are always greater the ding there are already more there could still be problems to solve there are so where one works but somehow still need time and yes there is a quantity take just start ups the large amounts and much work bet that this works if all that is working to see the market researchers noted by Gartner now indeed such a hype cycle out and appreciate until the really productive on a broad front to go through sets but at least five to ten years into the country and probably now going to tell this great hype is coming to an end in which as in their website and now you probably first for a two years will also experience bitter disappointments which shares the now totally exaggerated expectations will be seen so it's what you what you give what you do not do not do not anything where you it says it already beginning to write blog on it and and and artificial intelligence one might write it yet all we will power as abbot because you have to look a even more closely chile among many is that only marketing blah meant machine so that communities since you can now with bitcoin pay great indeed and the really serious projects can be counted in a few hands ok I think that we have understood the