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Cleveland: Blockland

KJP
in Ohio Business and Economy

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Is Blockland a new economic future for Cleveland or a block-headed idea?

 

 

And

 

 

Edited by KJP

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

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AND

 

Edited by KJP

"In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck

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    • Like 2

    Here is one reason why people get exited about blockchain.  If your industry is vulnerable to hacking (like banking) the idea of "incorruptible data storage" would be appealing. 

     

    From https://en.wikipedia.org/wiki/Blockchain

     

    By storing data across its peer-to-peer network, the blockchain eliminates a number of risks that come with data being held centrally.[1] The decentralized blockchain may use ad-hoc message passing and distributed networking.

    Peer-to-peer blockchain networks lack centralized points of vulnerability that computer crackers can exploit; likewise, it has no central point of failure. Blockchain security methods include the use of public-key cryptography.[4]:5 A public key (a long, random-looking string of numbers) is an address on the blockchain. Value tokens sent across the network are recorded as belonging to that address. A private key is like a password that gives its owner access to their digital assets or the means to otherwise interact with the various capabilities that blockchains now support. Data stored on the blockchain is generally considered incorruptible.[1]

    • Like 1
    12 minutes ago, punch said:

    Here is one reason why people get exited about blockchain.  If your industry is vulnerable to hacking (like banking) the idea of "incorruptible data storage" would be appealing. 

     

    From https://en.wikipedia.org/wiki/Blockchain

     

    By storing data across its peer-to-peer network, the blockchain eliminates a number of risks that come with data being held centrally.[1] The decentralized blockchain may use ad-hoc message passing and distributed networking.

    Peer-to-peer blockchain networks lack centralized points of vulnerability that computer crackers can exploit; likewise, it has no central point of failure. Blockchain security methods include the use of public-key cryptography.[4]:5 A public key (a long, random-looking string of numbers) is an address on the blockchain. Value tokens sent across the network are recorded as belonging to that address. A private key is like a password that gives its owner access to their digital assets or the means to otherwise interact with the various capabilities that blockchains now support. Data stored on the blockchain is generally considered incorruptible.[1]

    This would also be huge in the medical records world I would assume. 

    Blockchain is an overhyped term for implementing distributed ledgers in private industry.  Unfortunately, distributed ledgers (in most cases) don't offer any real value over distributed databases UNLESS the distributed ledger publishes its transactions to a publicly verifiable source.  This concept originated at Bellcore Labs, way back in the 80s/90s, where hashes of transactions were posted daily in the newspaper classifieds.  And that solution was open to much more manipulation than today's public Bitcoin or Ethereum blockchains.  

     

    Here is MIT doing it right http://news.mit.edu/2017/mit-debuts-secure-digital-diploma-using-bitcoin-blockchain-technology-1017

     

    So Blockland appears to be pushing IBM's hyperledger (private distributed ledger) solution to many local county gov't and corporations, which is just a slower implementation of a distributed database, with some additional permission settings, in a distributed ledger format.

     

    Underneath the tech hustling appears to be some real community development efforts but are completely misguided if attempting to leapfrog over encouraging tech usage in CLE school to using Bitcoin technologies. 

     

    There is plenty of real benefit to creating crypto solutions, specifically around free speech and personal financial sovereignty.  However, Blockland doesn't appear to be focused in anything but private blockchain solutions which are bound to fail IMO.

     

    We'll see if the hype continues past the currently ongoing conference.

    Edited by tklg
    added MIT

    • Like 2

    Plus a repeat conference next year.  You have to admire Moreno's organizing skills.  1700 out of towners, a promise (semi-comfirmed by the state of Ohio) of hundreds of millions venture capital, a three-school consortium, a second conference next year, and a tease of a Feb-March announcement of a new tech hub. That's a lot.

     

    The tech hhub tease is in this:

    https://www.cleveland.com/news/2018/12/second-blockland-solutions-conference-planned-for-nov-30-dec-3-2019.html

    Remember: It's the Year of the Snake

    4 hours ago, Dougal said:

    Plus a repeat conference next year.  You have to admire Moreno's organizing skills.  1700 out of towners, a promise (semi-comfirmed by the state of Ohio) of hundreds of millions venture capital, a three-school consortium, a second conference next year, and a tease of a Feb-March announcement of a new tech hub. That's a lot.

     

    Case Western Reserve University, Cleveland State and......Cuyahoga College.

     

    https://blocklandcleveland.com/who-we-are/unmatched_slate/

    17 hours ago, surfohio said:

    Case Western Reserve University, Cleveland State and......Cuyahoga College.

     

    https://blocklandcleveland.com/who-we-are/unmatched_slate/

     

    Unstated point: the Feds LOVE academic consortia; it greatly increases the likelihood of winning grants. 

     

    On the name, titular inflation will eventually result in the name becoming "Cuyahoga Universities".

    Remember: It's the Year of the Snake

    • Like 1
    • 3 months later...

    Re-directing some of the blockchain talk from the Tower City thread:

     

    https://www.cleveland.com/news/2019/03/car-titles-on-blockchain-bernie-morenos-ownum-launches-product-that-claims-to-make-it-happen.html

     

    Quote

    Car titles on blockchain? Bernie Moreno’s Ownum launches product that claims to make it happen
    By Emily Bamforth, cleveland.com

     

    CLEVELAND, Ohio -- A Cleveland company will sell a system to put car titles on blockchain, helmed by car dealership owner and Cleveland “Blockland” leader Bernie Moreno.

     

    Moreno is the chair of Ownum, a blockchain technology company that announced its first product, CHAMPtitles, on Friday. The system will allow the current car titling process to move online, ending with digital titles you can display on your smart phone.

     

    Blockchain is an hyperledger system which allows users to store data online in a series of entries. When you put car titling on the blockchain, it makes information immediately available to people who need access, like car dealerships, state government, insurers and auto-manufacturers.

     

    Bernie, is making a strong push into the tech world.  Including ways that I'm not sure have been made public yet so I will refrain, but keep an eye on his start-up in particular.

    The only way car titles may be placed on a blockchain in a trustless manner is by 3D printing a car.  Otherwise, any title may associated with any VIN arbitrarily.  Now, if a manufacturing processes was created that automatically associated a consumer's private key with VIN and matched with title, that'd be a different story.  Don't really see that happening though as I don't think Bernie's reach extends that far.

     

    I'm willing to bet Bernie's idea is more a distributed database idea, using IBM's Hyperledger product, which does not actually offer any increased convenience over what an existing title agency could offer.

    On ‎3‎/‎22‎/‎2019 at 1:35 PM, Mendo said:

    Re-directing some of the blockchain talk from the Tower City thread:

     

    https://www.cleveland.com/news/2019/03/car-titles-on-blockchain-bernie-morenos-ownum-launches-product-that-claims-to-make-it-happen.html

     

     

    I was speaking with a prominent bank executive the other week and he was saying that many of the large banks are working on projects to move all real estate transactions to blockchain within the next 10-15 years. This would eliminate the need for title insurance or greatly diminish it, and it would eliminate the need for the county recorder

    • Like 2
    22 minutes ago, Brutus_buckeye said:

    I was speaking with a prominent bank executive the other week and he was saying that many of the large banks are working on projects to move all real estate transactions to blockchain within the next 10-15 years. This would eliminate the need for title insurance or greatly diminish it, and it would eliminate the need for the county recorder

     

    I know a number of counties who see this coming and are working at heading it off ...... via blockchain lol

    It will be interesting to see how counties deal with this.  In Cuyahoga, for example, I can see a lot of resistance if RE transactions become fully immutable and transparent.  It will also eliminate a large slice of the pie for title companies, escrow agents, etc.

     

    Imagine one smart contract that handles everything for you!  Just set the required funds as a seller and deposit as buyer and BAM everything goes into motion.

    • 2 weeks later...

    Car mogul Bernie Moreno sells 7 North Olmsted franchises to focus on blockchain business

    Updated 2:52 PM; Today 2:16 PM

    By Emily Bamforth, cleveland.com

     

    CLEVELAND, Ohio -- Bernie Moreno is gradually dissembling his car dealership empire to focus on his blockchain-based tech company, Ownum.

     

    The car mogul sold seven car dealership franchises last week, leaving two locations to his name. He sold off his Volkswagen and Nissan dealerships in Streetsboro at the end of 2017 and a flurry of other locations, including those in Massachusetts and Kentucky, before that.

     

    Moreno is a well-known advocate of blockchain technology, a digital hyperledger system used for recording transaction. The technology is still in early stages of adoption, but Moreno launched an effort last year called “Blockland” to try and make Cleveland a blockchain technology hub.

     

    He founded Ownum and started Blockland last spring.

     

    https://www.cleveland.com/news/2019/04/car-mogul-bernie-moreno-sells-7-north-olmsted-franchises-to-focus-on-blockchain-business.html

    A comment on this story ..."Keep an eye on Tower City".  I would REALLY like to know what is going on behind the scenes here... between this and the rumors about Google on the TC thread.

    • 3 weeks later...

    Blockchain Global Revolution, a two-day meeting will be held in Toronto 24-25 April.  Bernie Moreno et al. are scheduled to speak on day 2 at 11:30AM on the subject "Cleveland: The Mid-West's Blockchain Technolgy Hub".  

     

    A Blockchain Cleveland update was expected April 18th and apparently didn't happen; maybe we will hear some news on the 25th.

     

    https://blockchainrevolutionglobal.com/new-program-welcome-to-blockchain-revolution-global/

     

    Remember: It's the Year of the Snake

    • Like 1

    News from Toronto seems to be a rehash of older stuff.  ?

     

    Bernie got an award.

     

     

    Remember: It's the Year of the Snake

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