This week we review "Blockchain Basics: A Non-Technical Introduction in 25 Steps" by Daniel Drescher. Blockchain hype may have waned, but we're still aboard the blocktrain destined for untold crypto riches. Look below for timestamps:

Part 1: How The Blockchain Works1:55 - The blockchain is a plain old transaction ledger...2:34 - ...but with no central authority5:00 - To write to it you must solve math problems6:58 - Transactions are verified using cryptography8:17 - Distributed consensus enables consistency

Part 2: Blockchain Flaws and Exploits11:40 - 51 Percent Attacks13:58 - Excessive power consumption15:40 - Dependence on private keys16:50 - Transactions can't be reversed17:45 - The blockchain is so slooooooooow

Part 3: Blockchain Applications19:50 - Money transfers20:57 - Disintermediation and eliminating middle-men22:28 - Smart contracts25:24 - Corporations and the private, permissioned blockchain27:30 - Blockchain and the shipping industry29:08 - Tokens and incentivizing network effects30:10 - DISRUPTION (may be a few years away)33:30 - Expect incumbents to fight back

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