[Bit]coin flipping: “Future applications of blockchain will likely include artificial intelligence and bots”
September saw the launch of the Blockchain Alliance for Good (Bisgit.IoV) – a free membership organization aimed at boosting the usage of blockchain technology to generate good social and environmental solutions. The Alliance unites blockchain enthusiasts from around the world and provides them with a springboard for “good” innovations. We talked to Barbara Mellish, president of Blockchain Alliance for Good, about the future of blockchain, the industries where blockchain activity may flourish and the need to revolutionize this technology.
Led by Barbara Mellish, a former senior banker, “Blockchain Alliance for Good will promote Total Value exchange which will revolutionize the adoption of Blockchain and Cryptocurrencies”. We invited Barbara to talk about this new initiative, the need to revolutionize the adoption of blockchain and cryptocurrencies and more.
JAXenter: What is Blockchain Alliance for Good and how did you come up with the idea? Was there a need for such an initiative?
Barbara Mellish: Blockchain Alliance for Good is a free international membership organization, aimed at boosting the usage of blockchain technology to generate good social and environmental solutions. The Alliance unites blockchain enthusiasts from around the world and provides them with a springboard for “good” innovations.
The idea formed as part of the development of BISGIT.IOV, the Blockchain initiative for Socially Good Integrated Transactions in the Internet of Value. Bisgit.IoV comes out of the not-for-profit Centre for Citizenship, Enterprise and Governance – the world’s leading Think Tank in the Movement of Value.
JAXenter: How can this organization revolutionize the adoption of both blockchain and cryptocurrencies?
Barbara Mellish: Blockchain Alliance for Good promotes Total Value Exchange which will revolutionise the adoption of blockchain and cryptocurrencies.
Much potential exists beyond simple anonymity which could enable the leap into the wider acceptance.
The revolution comes in the ability to recognize and record the total value of a transaction within the block. Financial transactions currently record only the financial value, but of course, there are many other values that attach to an exchange, for example the social good created or environmental impact of that transaction. By using the tech of the Social Earnings Ratio®, these additional values can now be captured and recorded. This way, total value recognition will transform how we transact by allowing good exchanges and still retaining anonymity.
JAXenter: Why do we need to revolutionize blockchain and cryptocurrencies? Are they not revolutionary enough?
Barbara Mellish: Mass market adoption of cryptocurrencies is impaired by negative media, suspicion and security concerns. Blockchain is too ingenious to simply replicate other financial transaction patterns.
Much potential exists beyond simple anonymity which could enable the leap into the wider acceptance. One such project is Phronesis which is developing attributes of cryptocurrency with applications in retail, social media and authentication.
JAXenter: In your opinion, what does the future hold for blockchain?
Barbara Mellish: What interests me most about blockchain are the philosophy and principles that sit behind the technology structures, and the desire for self-sustaining systems based on rules and voting. Future applications will likely include artificial intelligence and bots to evolve and learn. Some of this is being integrated in a Digital Conscience mobile app using Seratio® blockchain. These ideas will be explored further at the University of Cambridge Conference on 11th November 2016.
Blockchain is too ingenious to simply replicate other financial transaction patterns.
JAXenter: Does Bitcoin play any part in this initiative?
Barbara Mellish: The BISGIT.IOV initiative can be applied to all cryptocurrencies including Bitcoin. By recording the measure of total value of either the transaction or the transferor, the receiver of that cryptocurrency will know whether the funds being received have good or less good attributes.
Bitcoin technology will grow. To quote Bill Gates “Bitcoin technology is key and you can add to it or you could build a similar technology where there’s enough attribution where people feel comfortable.”
JAXenter: Do you believe that blockchain will outgrow Bitcoin? Where do you expect to see more blockchain activity?
Barbara Mellish: Yes. Blockchain tech will soon appear within many ‘back office’ systems including supply chain management, state and governmental records, individual records, health and finance, voting. There are many more multiple applications of blockchain than just cryptocurrencies. And until cryptocurrencies have built trust and provenance, their adoption will remain at the margins.
Thank you very much!