Dr. Ben Goertzel breaks down blockchain technology to Joe Rogan

05 Dec, 2018 | Updated: 05 Dec, 2018
by Richard Allen
Blockchain
Dr. Ben Goertzel breaks down blockchain technology to Joe Rogan

In an excerpt from the Joe Rogan Experience #1211, founder and CEO of blockchain-based AI marketplace Dr. Ben Goertzel breaks down the technicalities of blockchain technology.

Dr. Goertzel begins by saying that blockchain has become a sort of a misnomer. His explanation of blockchain begins with a distributed ledger, which he describes as “a distributed Excel spreadsheet or database. It’s just a store of information which is not stored in just one place.”

He then explains that if you take distributed ledger technology and add decentralized control, you get this distributed Excel spreadsheet that’s stored in a thousand places. But to update it, “you need 500 of those thousand people who own the copies to vote.” So now you have a distributed store of data and a democratic voting mechanism to determine when all those copies can get updated.

Dr. Goertzel then describes blockchain as the data structure, where the data is stored in a chain of blocks in the distributed database, with each block containing data. However, he explains that not every blockchain is built in this way anymore. For instance, some are built in a tree or graph shape, hence him calling it a misnomer.

Overall, he sums up a blockchain as “a distributed ledger with encryption and decentralized control.”

The full video can be viewed here.

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