create account

With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference by heymattsokol

View this thread on: hive.blogpeakd.comecency.com
· @heymattsokol ·
$30.41
With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference
People often psyche themselves out of understanding how blockchain works. This technology has a big reputation, and it *is* a big leap from what was previously possible.. The presence of difficult technical details in the white papers doesn’t help.

https://i.imgur.com/9jHT9zw.jpg

Despite the temptation for most blockchain developers to try and build the most *revolutionary, world-changing* product ever, most of the best blockchains are simple in practice.

You can make the process of understanding different blockchains easier by viewing it through the lens of *intentional simplicity*. That’s when we admit that we aren’t going to be able to handle a ton of complexity, so we choose to simplify towards an easier way of looking at something.

Most blockchains can be boiled down to one or two key features that define the major use case of the technology. The challenge is to figure out what that is for each one.

<h3>Three Examples of Small Blockchain Ideas With Huge Impact</h3>

**(1) Reward Scheduling**

In the music industry, artists have a notoriously difficult time getting all of the money that they are theoretically entitled to. Labels often use misleading tactics to take more than is fair… and the timing of payments is part of what makes that possible.

Many royalty payments in the music industry only happen twice a year and are delayed by 12-18 months from the time they were earned. This makes it hard for artists to keep track of what they should be earning.

In contrast, blockchain platforms usually pay instantly. In Steemit’s case this means every post’s rewards become available as soon as the seven day voting period is over. 

It’s much easier to keep track of how much money you have coming in with this system. Being paid instantly is also a much easier kind of income for a musician to survive on, especially when they are first starting. There is no reason to wait 12 months to get paid with today’s technology.

**(2) Own Your Own Data**

In the current state of most social media platforms, the centralized company that built the service owns and monetizes the users’ data. Facebook is notorious about using their treasure trove of info to serve ads, and they are far from the only ones with this kind of business model.

With blockchain, users can take ownership of their own data. This allows for a much fairer and less exploitative system where each user can do what they personally feel is right with their browsing history and site preferences.

Some people will desire privacy above all else. For them, the best solution is to hide all of their data permanently so that no company can know more about them than is absolutely necessary.

Other people will happily sell their own data and earn some extra money. This is a great alternative to letting social media companies siphon off that money for themselves. Whatever you personally will choose to do, the important thing is that you will be empowered to make that choice in the first place.

**(3) Own Your Own Money**

This is the original use case of blockchain. For far too long, people became completely used to the idea of allowing banks to hold on to all of “their” money. Sometimes an event would shake consumer confidence in the banks - like bank failures during America’s Great Depression - but as time went on, these blips on the radar were forgotten.

Physical cash and gold were viable banking alternatives or some people with smaller amounts of money.

But the real game changer for money was Bitcoin. BTC showed that people could securely and privately store large amounts of wealth without relying on any third parties.

There is a lot of work to be done as we learn the right way for mankind to govern Bitcoin. But Bitcoin has clearly already changed where the leverage lies in the global financial system.

<h3>Making Blockchain Easy</h3>

In 2018 I hope to resist the urge to let blockchain feel scary and complicated. Whenever I have questions, I am just going to ask them and try to find the answers.

Sometimes those answers are difficult to grasp. Whenever it comes down to complex mathematics or programming code, I may have to admit defeat. But there are many times when seemingly confusing concepts open up with the discovery of some new info online.

With Google available at all times, there is no need to guess or get frustrated about not having information. All we have to do is get better at research.

And after your first few dozen blockchain analyses, the whole thing gets a lot easier. There’s only a half dozen or so main categories of blockchains once you learn to spot the patterns, even if new projects are popping up every day.

Learning is fun and often easier than it seems. In blockchain, most of the hard stuff is at the beginning. If you can get past that, you’ll be on the path to wisdom.

Good luck.

https://steemitimages.com/DQmYuuW18gWNZPLC1A53SoZ6CHMYTPL4rraFh4gcJ5DYDKf/follow_heymattsokol.gif

<center>https://i.imgur.com/hgkeIwR.jpg?3</center>
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 10 others
properties (23)
authorheymattsokol
permlinkwith-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference
categoryblockchain
json_metadata{"tags":["blockchain","ideas","philosophy","motivation","sndbox"],"image":["https://i.imgur.com/9jHT9zw.jpg","https://steemitimages.com/DQmYuuW18gWNZPLC1A53SoZ6CHMYTPL4rraFh4gcJ5DYDKf/follow_heymattsokol.gif","https://i.imgur.com/hgkeIwR.jpg?3"],"app":"steemit/0.1","format":"markdown"}
created2018-02-20 23:45:57
last_update2018-02-20 23:45:57
depth0
children20
last_payout2018-02-27 23:45:57
cashout_time1969-12-31 23:59:59
total_payout_value23.454 HBD
curator_payout_value6.960 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length4,995
author_reputation76,543,947,856,347
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,195,492
net_rshares5,506,187,934,072
author_curate_reward""
vote details (74)
@dcj ·
Thanks!

What do you think of Golem / iexec?

Cheers,

@dcj
👍  
properties (23)
authordcj
permlinkre-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t003907363z
categoryblockchain
json_metadata{"tags":["blockchain"],"users":["dcj"],"app":"steemit/0.1"}
created2018-02-21 00:39:09
last_update2018-02-21 00:39:09
depth1
children1
last_payout2018-02-28 00:39:09
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length59
author_reputation1,423,704,636,168
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,204,130
net_rshares3,594,075,550
author_curate_reward""
vote details (1)
@heymattsokol ·
haven't looked at it
properties (22)
authorheymattsokol
permlinkre-dcj-re-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t020027482z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 02:00:27
last_update2018-02-21 02:00:27
depth2
children0
last_payout2018-02-28 02:00:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length20
author_reputation76,543,947,856,347
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,217,632
net_rshares0
@kendama-odyssey ·
All these reasons are why I am more interested in it every day. Good post yo.
👍  
properties (23)
authorkendama-odyssey
permlinkre-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t023332565z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 02:33:39
last_update2018-02-21 02:33:39
depth1
children0
last_payout2018-02-28 02:33:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length77
author_reputation12,076,943,820,067
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,224,324
net_rshares2,410,700,304
author_curate_reward""
vote details (1)
@lavradis ·
$0.05
it can go even further: tracking and automatically linking/referencing/ getting royalties for derivative work, usage or remixes. it can even go beyond that.
👍  
properties (23)
authorlavradis
permlinkre-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t001404933z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 00:14:06
last_update2018-02-21 00:14:06
depth1
children3
last_payout2018-02-28 00:14:06
cashout_time1969-12-31 23:59:59
total_payout_value0.038 HBD
curator_payout_value0.009 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length156
author_reputation131,602,432,240
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,200,111
net_rshares9,584,201,467
author_curate_reward""
vote details (1)
@heymattsokol ·
Indeed, altho we dont have anything even close to that yet lol
properties (22)
authorheymattsokol
permlinkre-lavradis-re-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t015959690z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 02:00:00
last_update2018-02-21 02:00:00
depth2
children2
last_payout2018-02-28 02:00:00
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length62
author_reputation76,543,947,856,347
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,217,544
net_rshares0
@lavradis ·
actually we do :-) it is on the roadmap for next year for at least one project ...
👍  
properties (23)
authorlavradis
permlinkre-heymattsokol-re-lavradis-re-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t130902569z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 13:09:03
last_update2018-02-21 13:09:03
depth3
children1
last_payout2018-02-28 13:09:03
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length82
author_reputation131,602,432,240
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,344,793
net_rshares182,501,362
author_curate_reward""
vote details (1)
@mayowadavid ·
$0.06
You have just spit out the bombshell.
To me understanding blockchain is more like a new school of thought with different write up about it from different people all you have to do is keep on learning and then take each situation based what has been working out for the moment.
👍  
properties (23)
authormayowadavid
permlinkre-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t004218691z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 00:42:27
last_update2018-02-21 00:42:27
depth1
children1
last_payout2018-02-28 00:42:27
cashout_time1969-12-31 23:59:59
total_payout_value0.049 HBD
curator_payout_value0.013 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length276
author_reputation7,803,610,719,182
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,204,719
net_rshares11,980,251,834
author_curate_reward""
vote details (1)
@heymattsokol ·
Yea you are probably right about it being a new school of thought, it relates to things in the past but its fundamentally something new and we gotta keep learning as we go.
properties (22)
authorheymattsokol
permlinkre-mayowadavid-re-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t020055233z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 02:00:54
last_update2018-02-21 02:00:54
depth2
children0
last_payout2018-02-28 02:00:54
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length172
author_reputation76,543,947,856,347
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,217,720
net_rshares0
@osita21 ·
haha nice,
I like your hair.
properties (22)
authorosita21
permlinkre-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180220t234803474z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-20 23:48:06
last_update2018-02-20 23:48:06
depth1
children1
last_payout2018-02-27 23:48:06
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length28
author_reputation60,022,842,005,971
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,195,857
net_rshares0
@heymattsokol ·
thanks me too
properties (22)
authorheymattsokol
permlinkre-osita21-re-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t015938568z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 01:59:39
last_update2018-02-21 01:59:39
depth2
children0
last_payout2018-02-28 01:59:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length13
author_reputation76,543,947,856,347
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,217,494
net_rshares0
@seanlloyd ·
$0.12
To play devil's advocate on #1 & 2...
1. While it takes longer to get paid by the music industry, you can continue to get royalties beyond the first payment (7 days in Steemit). Steemit might actually be shortchanging you on the value of your post.
1. The blockchain owns your data here, not you. Once you write it, it's there for all posterity. After 7 days, you can't touch it -- and you definitely don't own it.

So after 7 days, you get $0 and made a permanently donate your data to Steemit (or the Steem blockchain, to be precise). So in the short term, you might be better off. But you're also guaranteed you'll never see the long term payouts like the Beatles.

(Totally agree on #3)
👍  
properties (23)
authorseanlloyd
permlinkre-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t023146661z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 02:31:48
last_update2018-02-21 02:31:48
depth1
children6
last_payout2018-02-28 02:31:48
cashout_time1969-12-31 23:59:59
total_payout_value0.115 HBD
curator_payout_value0.006 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length690
author_reputation127,378,175,246
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,223,969
net_rshares22,298,977,813
author_curate_reward""
vote details (1)
@heymattsokol · (edited)
$0.04
Ive gotten paid more on my steem posts so far than most musicians earn in royalties across a decade sooo I doubt im being shortchanged. I dont need to rely on the hopes of a big payout down the road cuz I have a real income stream that lets me do this now.

Furthermore the investment of time that I am able to put in NOW - 30-40 hours a week of music time that other musicians spend at barista gigs and shit - is a huge advantage that can't be regained later on, time is more precious than money by far, especially factoring in that most successful musicians "lock in" their careers by their early 30s.

Anybody whose career strategy involves seeing long term payouts like The Beatles did is frankly delusional so Im not worried that I'll never see that. I appreciate the devil's advocate but in this case, im not seeing it at all
👍  
properties (23)
authorheymattsokol
permlinkre-seanlloyd-re-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t023818863z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 02:38:18
last_update2018-02-21 02:39:12
depth2
children5
last_payout2018-02-28 02:38:18
cashout_time1969-12-31 23:59:59
total_payout_value0.032 HBD
curator_payout_value0.009 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length831
author_reputation76,543,947,856,347
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,225,250
net_rshares7,947,229,391
author_curate_reward""
vote details (1)
@fknmayhem · (edited)
$0.12
> Ive gotten paid more on my steem posts so far than most musicians earn in royalties across a decade sooo I doubt im being shortchanged

I'm going to join @seanlloyd in playing the devil's advocate here. :D

The *shortchanging* is especially significant when you have a post which tends to rank very well in search engines and continues to get both traffic and upvotes for months after the rewards window was closed.

With the ever-growing Steem ecosystem this is going to become a more often felt sentiment as well. Two platforms where the 7 days window may be shortchanging would be Steemhunt (upcoming ProductHunt on the Steem blockchain) and any Q&A project like [What Q&A](https://steemit.com/steem/@fknmayhem/the-first-decentralized-quora-alternative-now-available-as-a-mobile-app-on-the-steem-blockchain) (apologies for link to own article about it but the Steem account of the project is less detailed in info IMHO).

In both examples, there is a case to be made for the content to have longer lasting value than the 7 days window. A solid product (say Vessel) is a solid product, not merely for 7 days. Same applies to a great answer to a question. 

Both should be able to continue to be rewarded.
👍  , ,
properties (23)
authorfknmayhem
permlinkre-heymattsokol-re-seanlloyd-re-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t091153212z
categoryblockchain
json_metadata{"tags":["blockchain"],"community":"busy","app":"busy/2.3.0"}
created2018-02-21 09:11:54
last_update2018-02-21 12:31:33
depth3
children2
last_payout2018-02-28 09:11:54
cashout_time1969-12-31 23:59:59
total_payout_value0.094 HBD
curator_payout_value0.026 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,208
author_reputation156,941,100,368,387
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,297,957
net_rshares21,925,730,524
author_curate_reward""
vote details (3)
@seanlloyd · (edited)
$0.07
Fair enough. Maybe for the average musician, the short-term payout is ideal.

Maybe it's easier to see with something more common...

How about the person who posts a tutorial -- spends 10 hours researching, writing, proofing. No one finds it in 7 days, so they get 0 upvotes, $0. Then people come to find it later through search terms. Over then next few years, they get 200 upvotes. Then let's say they have 100 posts more or less like that.

The long tail of work adds up to real value. And yet...

### Author rewards = $0
### Value donated to Steem blockchain way more than $0
(1,000 hours of work for quality content)
👍  
properties (23)
authorseanlloyd
permlinkre-heymattsokol-re-seanlloyd-re-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t035823814z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 03:58:24
last_update2018-02-21 04:02:12
depth3
children1
last_payout2018-02-28 03:58:24
cashout_time1969-12-31 23:59:59
total_payout_value0.055 HBD
curator_payout_value0.016 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length622
author_reputation127,378,175,246
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,240,384
net_rshares13,258,851,672
author_curate_reward""
vote details (1)
@yesterdayinboxes ·
Good article.  I'm not sure if I'm allowed to post links in comments, but the coin central website is a good resource for all things crypto.
👍  ,
properties (23)
authoryesterdayinboxes
permlinkre-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t013324448z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 01:33:24
last_update2018-02-21 01:33:24
depth1
children1
last_payout2018-02-28 01:33:24
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length140
author_reputation317,815,746
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,213,009
net_rshares4,193,182,329
author_curate_reward""
vote details (2)
@heymattsokol ·
I like coindesk the best
👍  
properties (23)
authorheymattsokol
permlinkre-yesterdayinboxes-re-heymattsokol-with-blockchain-the-smallest-possible-idea-can-make-the-biggest-difference-20180221t020116005z
categoryblockchain
json_metadata{"tags":["blockchain"],"app":"steemit/0.1"}
created2018-02-21 02:01:15
last_update2018-02-21 02:01:15
depth2
children0
last_payout2018-02-28 02:01:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length24
author_reputation76,543,947,856,347
root_title"With Blockchain, The Smallest Possible Idea Can Make The Biggest Difference"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id39,217,779
net_rshares586,817,409
author_curate_reward""
vote details (1)