First Steps with Blockchain

  • November 30, 2017
  • Ariana
  • 0 Comments

First Steps with Blockchain from BP3.

Speaker 1: Video 16 take one. Whenever you guys are ready.

Interviewer: Are you ready?

Interviewer: Thanks, Andrew, for coming out today. Today, we’re talking about getting started with blockchain and really the steps in getting started with blockchain. What are the steps in getting started with blockchain?

Andrew: The steps in getting started with blockchain aren’t in and of themselves inherently different from your typical IT endeavor. The first thing we want to know is what problem are we solving and assure ourselves that blockchain is a good solution to that. We need to know who is participating in our solution in order to figure out how we bring them into it, what are the various rules for participation and things like that, and then we want to talk about what we’re actually solving. What are the mechanisms by which we’re going to do it? Within that, there’s not … Once you have those pieces, then you’re now down into the technical nitty gritty. What blockchain technologies do we want to use in order to do this?

Andrew: How do the various participants get involved? Who do we want to allow to commit to the blockchain versus request permission and all of these sorts of things? Actually, it turns out there was a lot of process involved in figuring those things out and also in bringing those participants on board into your chain.

Interviewer: Something that I’ve heard is getting started blockchain and safely getting started in blockchain is a lot about defining the process that is going to end in a commitment to the blockchain. Is that something that people are doing regularly now?

Andrew: That’s a big part of it, but actually even before that you have the what is the process by which any given participant is allowed in. There’s a lot of the public blockchains solve this problem by requiring that the participants invest something, generally computational time, in order to participate. For private blockchains, that feels a bit wasteful, so you have to figure out what are your rules, what things do you want to know before a given participant can join into your chain.

Interviewer: Sounds like a big process problem and big blockchain problem. Thanks for joining us today.

Andrew: You’re welcome.

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