255: George Goognin: Understanding Blockchain and What It Means For You
Release Date: 06/19/2019
George Goognin is a board member of the Mile Unity Foundation, a global public benefit organization educating governments and enterprises on how to apply blockchain technologies for the real economy. MUF is evangelizing digital technologies to create a fairer global economy that empowers the 4 billion people in the developing world and kickstarts economic growth worldwide.
George launched his first federal scale online-startup in 2008. He has 8 years of experience at large fintech corporations and e-commerce companies, where he focused on automation. He is the co-founder of Karma, a cross-border p2p loans ecosystem, which raised 10 million USD in 2017. He is also vice chairman of the Russian Parliament Blockchain Experts Chamber. In addition, George is a consultant for several governments on blockchain technologies legislation. He has been featured at Bloomberg, CNN, IBM, Entrepreneur, Forbes, and more.
In today’s conversation, George provides a clear, concise explanation of what blockchain technology is, how it works, and where best to apply it. He dispels some common myths about cryptocurrency, and emphasizes the benefits of using blockchain technology in cross-border trading, investments, and large purchases such as artwork and real estate. Where traditional banking infrastructure falls short, blockchain provides a cost-effective and secure solution that will make it easier to transfer goods between countries and continents, offering up a wealth of opportunity for developing nations.
- Blockchain is a distributed ledger of information that is safe because there are a large number of people who support and maintain a copy of this ledger.
- Information inside the ledger is encrypted so it is very expensive and difficult to hack, violate or reverse update the information.
- Governments are looking to utilize and legalize the use of blockchain and cryptocurrency.
- Cryptocurrency is not about anonymous transactions; it’s about fast and hassle-free transactions.
- Cryptocurrency is a dream for intelligence officers. It is hard to stay anonymous when you use cryptocurrency because it actually produces more transparency.
- It will likely take decades for cryptocurrency to replace traditional forms of money.
- It is of most interest for cross-border trading, commodity trading, investments or big purchases such as artwork and real estate because the existing financial tools for transferring large sums of money are very limited.
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