Hey yo, what’s the groove with those who never miss an episode, the Chico Army, but
if you're new and you wanna join the crew, give me a subscribe, and drop that title of
viewer of the tube.
My name’s Tyler, and welcome to the crypto channel who helps you get laser focused on
these markets……You know how we rave down.
It’s time for Chico Crypto!
Sol, you wanna party down?
You wanna get a little loose and crazy with it?
Well why don’t we just take a glimpse into the past, present & future & do a little bit
of Chico visualization of just how different our lives will be when blockchain, smart contracts
& now DeFi transform the worlds’ economies into smart economies & which crypto’s could
be providing those smart services.
So, Satoshi & his, hir or their bitcoin gave us blockchain in 2009.
The initial lego piece needed for smart economies.
It created a decentralized record and ledger, removing a centralized middle man for the
very first time.
But, bitcoin was and is still missing the other pieces to make smart economies a reality.
Smart contracts.
Then Vitalik came around and in 2014 his Ethereum gave us that, a decentralized record and ledger,
with the ability to initiate and confirm contracts.
Ethereum was made to be the world’s computer...in 2016, Coindesk covered this topic...What’s
the Big Idea Behind Ethereum’s World Computer?
The article says “As a relatively new development utilizing bitcoin technology, Ethereum aims
to implement a globally decentralized, un-ownable, digital computer for executing peer-to-peer
contracts.
Put more simply, Ethereum is a world computer you can’t shut down” This combination
of cryptographic architecture and Turing completeness could enable entirely new industries to spawn.
In turn, traditional business models, occupying the role of middleman, could increasingly
feel the pressure to innovate or face irrelevance”
And since 2016, the plan of a world computer for Ethereum, hasn’t changed.
John Wolpert, of baseline protocol and co-founder of hyperledger fabric said this in December
of last year “2019 Ethereum: World Computer.
2020 Ethereum: World's Computer”
So, you guys gotta understand that if Johnny Wolpert is saying this, you better pay attention.
Like I said, John co-founded hyperledger fabric.
So what is this fabric?
Well it’s an enterprise-grade, distributed ledger platform, but rather than a permission-less
system where anyone can transact and access data, Fabric offers a permissioned, secure,
and scalable platform that supports smart contracts and data privacy.
Thus, hyperledger is the most common blockchain toolset used across enterprises, and the large
ones too...Amazon, Comcast, IBM, ING, Microsoft, Nasdaq, SAP, Walmart and many many others.
Although there is a problem with this...not using a decentralized frame of reference.
It creates an industry or company Silo, that’s what Fabric does.
So a Fabric Network here and another Fabric Network there...But they’re not designed
to interoperate...how can they trust eachother without a middleman?
They can’t...and that is where Ethereum comes in.
Ethereum can be a common frame of reference
And John, who co-founded the fabric these enterprises are using, understands this.
He put this article just last year, “Safety Without Silos: Why Businesses Will Learn to
Love Public Ethereum”
In the article he says “To integrate different systems this way requires a common frame of
reference.
We need a way to pass messages between functions running on separate systems, so that they
can work together without having to expose the underlying data or business logic indiscriminately.
What’s new is the notion of using the Ethereum mainnet as a global integration hub serving
systems that work together without revealing this private data or confidential business
logic, even to partners”
So, Hyperledger and it’s enterprise fabric chains aka silos, have been looking to integrate
with Ethereum for some time...in october of 2018, fabric announced it supported Ethereum
and the ethereum virtual machine.
Then 1 year later, in August of 2019 they announced hyperledger Besu, a Java-based Ethereum
client & the first blockchain project submitted to Hyperledger that can operate on a public
blockchain...aka Ethereum.
And now today, presently John and friends, including Ernst & young,Microsoft & more are
creating the baseline protocol, where Ethereum will be the main point of reference for trust
between enterprises.
Sooo Ethereum, will be the main component of future smart services, in the smart economy.
The writing is on the goshdarn wall, you don’t see this level of enterprise involvement with
any other public blockchain, and these enterprises will still be delivering the bulk of services
down the road.
But how these enterprise’s deliver the services to you, will be changed and let’s not take
a glimpse into the future of the smart economy.
I’m talking 10-20 years down the road.
Each & every single one of us, are going to have an AI assistant, or a smart agent.
It will learn everything about you, understand what you wan’t based on input signals, browsing
info & data, locations, social rankings, social activity & more.
I mean the bits and pieces of this are being built as we speak, Brave Browser and BAT token..your
browsing data.
FOAM, provides decentralized locations services, POAP proof of attendance, providing social
rankings through badges & Minds and peepeth providing the largest decentralized social
network services.
So, all this data is being recorded on the blockchain & is there….forever.
And those smart agents will read, and breakdown & learn from that forever data, even if they
aren’t a thing, or even built right now.
And even if today, you haven’t used one of the things mentioned, eventually all data
will live on blockchain, whether that be public, private, consortium, or a quasi form combination.
And agents are going to have it till the end of our times.
So since the agent knows everything about you, it can do things for you.
Like as soon as you begin your route to your favorite restaurant, after picking up your
best friend, it orders both your favorite meals for you, and it’s ready as you arrive.
Ya that is coming.
And the transaction... the payment?
Stablecoin, where you don’t even have to pull out a debit card, wait on a waitress,
or anything, you just leave, it's automatically taken out of your crypto wallet and the tip
is automatically done based on your preferred setting.
So this data, all within the restaurante, it’s highly important, what you ate, did
you change your order before you left?
how much you drank, how much time you spent there, your average bill, desert this time?
What day of the week desert?
It’s valuable data, that the restaurante now owns, and it’s most likely stored on
their personal node or their data providers node..
A node for data?
Like a chainlink node?
YUP, because if you didn’t know, chainlink nodes are all about monetizing data feeds….data
is the oil of the 21st century, which is currently being mined and monetized by the centralized
entities, but that’s about to change unless they play ball, and some of them are…as
they realize Chainlink is the digital agent going to serve not only enterprise, medium
business and small business but also eventually people.
Chainlink oracle nodes are smart agents.
From this Blog post put out by Chainlink “Analyzing the DeFi Ecosystem and The Many Ways Chainlink
Can Accelerate Adoption” they said this in the connectivity section.
“An oracle is a digital agent employed by a smart contract to retrieve and/or connect
it to data and systems outside its native blockchain (off-chain)”
A chainlink agent may be serving you in the future, and even if you don’t have a personal
one for your home lets say, you still will be using one, and not even realize it...so
let’s visualize how??
So besides your personal data, what is a futuristic thing we will be able to monetize.
The energy we produce…..
So a smart agent could be running your homes entire power operation, the power you collect
from solar, the power that goes through it to devices, how, when and the most effective
route, saving you money.
The unused power can & will be sold into the open markets.
It’s your power agent...but chainlink isn’t building this agent, it’s just an agent
of that agent...let me explain.
You guys know Energy Web, it’s my pick for this sector, they are building the d3a, which
is ironically named the decentralized autonomous area agent.
I just showed this a few days ago, the fractal model of this system, but it will control
all the way from devices to homes, to neighborhoods, to entire grids.
It’s highly likely a d3a agent will be working with your home as no one, is as close to EWT
and the d3a, in terms of reach...today, it’s already working in 250 markets, with nearly
500 area agents & it’s full release is still on the horizon.
But, this agent needs another agent...especially for price data, weather data, data that it
doesn’t capture but is needed in it’s system.
That is where chainlink comes in, connecting right to the EWT chain.
And EWT engineer, and actually the creator of the EWT tesnet Volta, Adam Nagy put out
this deep, deep 3 part tutorial of connecting chain link to EWT, titled Oracles with Chainlink
and the public price oracle….
Highly important, for energy web, but you need more confirmation of EWT and that stanky
lank?
In april CCO Jesse Morris had an AMA, he said this “we just announced ENS and Chainlink
Oracle services on EWC which are the first two in this regard”
So an oracle agent, for the energy agent.
But what about the another type of agents, the data agent somehow all 3 of these are
connected?
Well this one comes from ocean protocol.
Ocean is creating AI based data management services, to be used not only by the multiple
large enterprises they are working with, but every organization, small, medium, large & even
personal data AI management.
So, you will have control over your DATA, and ocean AI agents can manage it for you.
You could join an Ocean based DATA DAO, and pool your data together, and this DAO could
collectively bargain with those who want to purchase it from you.
Kind of futuristic wouldn’t you say?
But that is coming, and it’s coming with OCEAN.
So, like I said, all 3 of these are in some way, somehow integrated.
Ocean, created EW-AI, an ocean data marketplace and agents for EWT customers, and then Ocean
integrated with Chainlink too in April of this year..an oracle agent, is much needed
for a data marketplace agent, wouldn’t you say….Cheers I’ll see you next time!