Web3 & Blockchain - How to get involved with Venture Capitalist Fiona O'Donnell-McCarthy? #shorts

Name: Web3 & Blockchain - How to get involved with Venture Capitalist Fiona O'Donnell-McCarthy? #shorts
Uploaded: 2022-06-10T10:35:31+00:00
Duration: 47 s
Channel: Claudia von Boeselager
Description: In this short segment, the speaker breaks down the foundational forces driving trends like crypto, blockchain, and Web3. They identify two major…

10 Jun 2022 · 1 min

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In this short segment, the speaker breaks down the foundational forces driving trends like crypto, blockchain, and Web3. They identify two major innovations: a technological one—blockchain technology, defined as a decentralized, distributed database of historical transactions—and a social/organizational one that reshapes how value and coordination occur online. The speaker explains that decentralization means no single entity controls the data, while distribution means the data isn’t stored in a single location but across a global network of computers. They then connect these innovations to current realities, noting that as more of life moves online, corporations are increasingly harvesting behavioral data, highlighting privacy implications of the new paradigm.

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then? How I'd break it down is that what's underlying all of these trends, you could call it crypto, blockchain, Web3, there's really two major innovations and one is technological and one is more social or organizational. So the first is blockchain technology. The simplest way to describe a blockchain is that it's a database of historical transactions. So what's different about a blockchain versus a traditional database is that it's decentralized and distributed. So decentralized means that no one entity controls the data, and distributed meaning that there's no one place in the world where all the data is stored. So the chain can run on a network of computers all over the world. And what that means is that today, as we live our lives more and more online, there are corporations that are harvesting the data about our behavior,