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BLOCKCHAIN is Here!

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The world keeps marching to the beat of technology. A simple example of assessing the pace of technology is to recall that a few years ago in order to watch movies we trekked to the video shop to rent VHS tapes. Today the Internet has transformed how media is delivered to the customer by streaming directly to household and handheld devices.

Another technology that will transformed how we do business- and it has started- is BLOCKCHAIN!

Barbados Underground shares the following video in the public’s interest.

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78 responses to “BLOCKCHAIN is Here!”

  1. WARU Avatar
    WARU

    This Blockchain technology has not yet been perfected sufficiently, hence the reason the top largest conglomerates have not yet rolled out their pilots using the technology, although it has been a couple years they invested in the platform.

    It probably still got another 5 or 10 years to go, no hurry.

  2. WARU Avatar
    WARU

    BTW…encryption is a very, very specialized area, only conglomerates and very, very wealthy private individuals can afford to pay the very best cryptographers for security.

  3. Georgie Porgie Avatar
    Georgie Porgie

    IN REFERENCE TO THE ESCHATON WE READ THIS IN DANIEL 12:4

    But thou, O Daniel, shut up the words, and seal the book, even to the time of the end: many shall run to and fro, and knowledge shall be increased.

    KNOWLEDGE SHALL BE INCREASED

    IS THIS BLOCKCHAIN THINGY ANOTHER THING THAT SUGGESTS THAT THE ESCHATON IS NIGH?

  4. Bush Tea Avatar
    Bush Tea

    The ‘knowledge’ referenced is true knowledge of the purpose of life …and of the nature and ways of God.
    Note that it had been sealed in ‘the book’ …RIGHT UP TO THE END… (which explains why you cannot explain simple concepts)… despite all your extensive and impressive studies, theses and exegeses…..

    Now, many are indeed running ‘to and fro…’
    Beware therefore……when the TRUE knowledge of BBE and the purpose of life becomes widespread…….

    It is THEN that the end will come….

  5. WARU Avatar
    WARU

    The Blockchain thing suggests Bitt Inc is full of shit and the scam they have rolled out as a pilot..is just that…a scam..

    As already established…you NEED millions of people using Blockchain and world class cryptigraphers for the ultimate in security…

    Has anyone noticed that Barbados DOES NOT HAVE millions of people for a population…it does mot even have 300K…….hence the reason I said that if Trinidad…with a 1.2 million population or Jamaica… with a 2.8 million plus high population density had been used as Bitt’s guinea pig, instead of Barbados…they would not appear so desperate and fly by night…and would have maybe seem more credible.

    Outside of that…Blockchain is a magnificent platform for launching whatever…as long as millions or hundreds of millions or billions of people are hooked up to the platform..

    JPMorgan and other large entities that invested heavily in the technology some years ago…rightfully did their research and already know Blockchain will take another decade to be sufficiently ready for launch.

  6. David Avatar
    David

    @Bush Tea

    Until we crash as foretold for centuries blockchain is the emerging technology, a technology that uses the same cryptography as what is used in the industry today. Bitt Inc is using a global technology, it was not invented by them.

  7. WARU Avatar
    WARU

    Outside of that…Blockchain is a magnificent platform for launching whatever…JUST AS LONG AS millions or hundreds of millions or billions of people are hooked up to the platform..SIMULTANEOUSLY….which takes MANY years…

    No Blockchain launch can be successful UNTIL that occurs.

  8. Georgie Porgie Avatar
    Georgie Porgie

    Bush Tea October 1, 2018 8:11 AM

    RE The ‘knowledge’ referenced is true knowledge of the purpose of life …and of the nature and ways of God.

    WHERE DOES THE TEXT SAY OR IMPLY THAT SATAN?
    WHAT IS THE WORD USED FOR KNOWLEDGE IN THE ORIGINAL TEXT?
    HOW WAS THAT WORD USED?
    HOW IS THE WORD USED THROUGHOUT DANIEL, OR THE REST OF THE OT?

    RE Note that it had been sealed in ‘the book’ …RIGHT UP TO THE END…
    WHAT IS SEALED EXACTLY? AND WHY SATAN?

    RE (which explains why you cannot explain simple concepts)… despite all your extensive and impressive studies, theses and exegeses…..
    WHAT DOES THIS HAVE TO DO WITH THE TEXT SATAN?

    RE Now, many are indeed running ‘to and fro…’
    WHAT DOES THIS MEAN SATAN?
    HOW IS THIS TRUE OR NOT TRUE FOR OUR TIME SATAN?

    RE Beware therefore……when the TRUE knowledge of BBE and the purpose of life becomes widespread…….
    WHAT IS THE “TRUE knowledge of BBE”SATAN?
    WHEN WILL “he purpose of life become widespread SATAN?
    WHO OR WHAT IS BBE SATAN?
    …….
    RE It is THEN that the end will come….
    SUPPORT YOUR ANSWERS BY MULTIPLE RELEVENT SCRIPTURES SATAN.

  9. Georgie Porgie Avatar
    Georgie Porgie

    HERE IS GUZICK ON DANIEL 12:4

    IT IS BETTER TO SEEK KNOWLEDGE FROM SOMEONE WHO HAS STUDIED THE SUBJECT, THAN TO EXPECT TO LEARN ANYTHING FROM A BRAYING BIBLE ILLITERATE WHO IS A SON OF SATAN

    IN THIS DAY ONE CAN GOOGLE STUDIES IN…………………….AND GET SEVERAL OPINIONS RATHER THAN LISTENING TO THE WORDS OF SATAN INCARNATE ON BU HIMSELF

    “But you, Daniel, shut up the words, and seal the book until the time of the end; many shall run to and fro, and knowledge shall increase.”

    a. Shut up the words, and seal the book: To shut up the words implied that the words should be kept safely until the time when they were needed. Seal the book has the double sense of authenticating the message and preserving it.

    b. Until the time of the end: Daniel’s prophecy certainly was of some value in his own day. But there would come a day, the time of the end, when his prophecy would be of even more importance. Therefore, it was important to shut up the words, and seal the book until the time of the end.

    i. “We must wait ‘till the time of the end;’ and this, it appears from the following calculations, will not arrive before the TWENTIETH CENTURY. We here see the reason why these prophecies are at present so imperfectly understood. God has sealed them.” (Adam Clarke, 1825)

    c. Many shall run to and fro, and knowledge shall increase: Here, Daniel describes a characteristic of the time of the end. Many take this prediction as being fulfilled in the travel (run to and fro) and information explosions (knowledge shall increase) of our modern age.

    i. Many shall run to and fro, and knowledge shall increase: This has more the idea of searching after knowledge rather than rapid forms of transportation.

    ii. “The idea is that people would run about trying to find answers to important questions, especially in reference to future events.” (Wood)

    iii. “The correct sense is that ‘many shall search it through and through,’ and that as a consequence ‘knowledge of the book itself shall be increased.’ ” (Newell)

    d. Shut up the words, and seal the book: Daniel has revealed enough to us so that the book really can be sealed. From Daniel 11:36 to Daniel 12:3, we see:

    · A world ruler, utterly opposed to God.

    · A world religion, based on the abomination of desolation.

    · A world war, which defeats the ruler.

    · A time of great tribulation for Israel lasting three and one-half years.

    · Deliverance for the people of God after the tribulation.

    · Resurrection and judgment.

    · The reward of the righteous.

  10. Wily Coyote Avatar
    Wily Coyote

    Blogmaster is obviously well outside his/her comfort arena in the area of BLOCKCHAINS, would be better to sit on the sidelines lookin and listening, instead of looking like a Bajan poligician.

  11. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU

    The point most thinking persons on this blog and elsewhere in the world is making is that there is no need for Barbados to be the guinea pig. We do not have the resources nor the resilience to engage in such experiments nation wide. The Blockchain platform has the potential to improve many things. We do not have to contribute our meager resources to its development. It is a misallocation of national resources.
    The uses of Blockchain will progress with or without Barbados participation/ contribution.

  12. David Avatar
    David

    @Vincent

    Appreciate your caution. The objective of the posts about blockchain and supporting technology is to educate.

    This is why the pilots being established are useful.

    Bear in mind what is a pilot.

    >

  13. Hants Avatar
    Hants

    Here is a pilot project for the government.

    Targeted import substitution.

  14. 555dubstreet Avatar
    555dubstreet

    Georgie Porgie pudding and pie kissed the girls and made them cry (homo) wrongly believes that white Anglo-American Imperialism is the God Way

  15. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU at 9 :37 AM

    The pilot adds to the public finance deficit. Human resources that can be used in more productive areas are /have been diverted. I believe your pilot project has an undisclosed motive.

  16. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU

    The Computer Science programs at UWI and the Community College is where the Blockchain technology platform should be properly taught ,experimented with and applied to management and financial issues. The costs to the society would be lower without the downside risks of the proposed pilot..

  17. David Avatar
    David

    @Vincent

    That would have been a sterile environment?

  18. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU at 1:36 PM

    Fortunately sterile environments are the places where scientific theories and discoveries are made and tested. Moreover ,there is less collateral damage.

  19. David Avatar
    David

    Blockchain has been tested, what we are witnessing is the early adoption phase of the technology.

    Resistance during this phase is par.

  20. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU

    Feel free to keep shifting the goal posts. One thing for sure there is no way I am going to keep quiet and allow Barbados financial system to collapse through ignorance and greed.

  21. David Avatar
    David

    @Vincent

    You or anyone in Barbados cannot stop blockchain technology. Have a read of the link.

    https://www.siliconrepublic.com/companies/blockchain-banks-jp-morgan-iin

  22. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU at 7 :45 PM

    Where in any of my submissions or any other submission did any one indicate that they want to or can stop the development or application of Blockchain Technology ? You are shifting the goal posts again.

  23. nineofnine Avatar
    nineofnine

    Records and Book Keeping plays an integral part in all Government and Corporate entities, Blockchain secures that data while at the same time audits it from open sources before its validated, the difference is that Blockchain extends to other fields of endeavor in reducing the TPS (transactions per second) factor of doing business, promoting low cost services throughout trade and tourism, transfers and remittances, in Securities, communications, commodities, even in the Gaming Industry and a host of other applications to date.

    JP Morgan has attracted 76 other International Banks to their Blockchain bases financial application IIN (Interbank Information Network) streamlining efficient and timely cross-border payments globally.

    Food is another area where Blockchain is becoming more useful in terms of safety and real time tracking aimed at minimizing losses.

    More applications are PATENTS for new blockchain initiatives are on the rise, certainly Blockchain is here to stay.

  24. TheOGazerts Avatar
    TheOGazerts

    We were told that mMoney was not blockchain technology.

    I am wondering if Bitt Bitcoin was just a slick way to convert Barbados $ to foreign currency. Once you bought exchange your Barbados dollars for bitcoins, you can make purchases anywhere in the world. However, the falling price of Bitcoin stopped/slowed down the planned exchange,

    mMoney is the Trojan horse that will allow them to enter different islands without causing suspicion.Expanding to the rest of the Caribbean will also allow them to manipulate the exchange control imposed by central banks in the various islands.

  25. TheOGazerts Avatar
    TheOGazerts

    The play on Bitt has to be on the technological side. Bitt is not in the league of those other banks The investment by Overstock is chump change to JP Moorgan.. So Bitt either has great great great technology or it is a scam.

  26. Pieceuhderockyeah@gmail.com Avatar
    Pieceuhderockyeah@gmail.com

    @ Theophillus

    At the hour of 9 and 33 minutes you penned the most simple paragraph here on the scam that is MMoney

    You said and I quote “…mMoney is the Trojan horse that will allow them to enter different islands without causing suspicion.Expanding to the rest of the Caribbean will also allow them to manipulate the exchange control imposed by central banks in the various islands…”

    and they you continue with “…The play on Bitt has to be on the technological side. Bitt is not in the league of those other banks …So Bitt either has great great great technology or it is a scam….”

    And as one continues to be played by the BU tune your revelation is dropped right at the time that the IMF news is released.

    And of course the papers going blaze all of this pup all over the place tomorrow and a national holiday is going to be declared for National IMF Day.

    But what you have said LIKE A TREE FALLING IN THE WOOD, and there is no one there to hear it, does not make a noise does it????

  27. nineofnine Avatar
    nineofnine

    TOG

    How can a payment platform / exchange (trading platform facilitator) influence Central Bank monetary control?
    The price of the asset/token/coin determines its own exchange rate, determined by “investments” in the assets and that is the decentralize nature from regulatory control.

    Bitt is not an Exchange Commission.

    Regulation comes in terms of establishing Tradable Commodities, Blockchain technology, Exchanges, Payment Platforms, e-Wallets, ICOs, IPOs or products and services created for the ecosystem and commerce

    A license/permission must be obtained from the holders of any intellectual property (Bitcoin) in order to use it.

    Bitt website………… https://www.bitt.com/about/company

    Bitcoin …………………https://www.livebitcoinnews.com/
    How to use Bitcoin…https://www.ccn.com/start-using-bitcoin/

  28. WARU Avatar
    WARU

    Blockchain technology will not be stopped, but fly by night scams by small time on the island, people who are KNOWN to be shady…SHOULD be stopped until the technology is fully secure and ready for launch…

    …trying to jump the gun BEFORE the technology is ready for use by millions of people ..will not help Barbados…it is a quick scam to rob the people..

    …they went looking for investors, ended up with 16 million dollars from Overstock…may have to repay 50 million according to how the investment was valued apparently by Overstock themselves, which has nothing to do with the people of Barbados, no one sent any of them hunting trying to break into the big leagues…, and now it seems they have no way of recouping the investment…let alone any profits..because they obviously did not fully understand that the world’s population as a collective…MUST BE involved to make the platform work.

    The intent by Bitt is one of greed, not intelligence OR commonsense…that is why it’s stalled…they are stalled and should stay stalled until everyone is hooked up to Blockchain..let them go find small island fame and try ripping off the people in a bigger country.

  29. 555dubstreet Avatar
    555dubstreet

    Barbados should open up a University of Dub

    One day Jah will paralyse the hands of the wicked

  30. Dreamstarworld Avatar
    Dreamstarworld

    @David BU et al

    Below cited will be the greatest CRYPTO Opportunity since BITCOIN (only MUCH BETTER as it is “BACKED” by physical 999.9 GOLD BULLION)!!!

    If you GUYS* are looking 4 an unbelievably “EASY” system that can give you “FINANCIAL FREEDOM” – this is it!!!

    Have a look at “OPPORTUNITY” & as this is NOT* 4 everyone because of those with a “MILLIONAIRE MINDSET” who see a “GOLD MINE” and has the VISION & DRIVE to make the “First Mover Advantage” applicable when an opportunity like this comes knocking!!!

    https://affiliate.kcbank.io/?s=dreamstarworld

  31. WARU Avatar
    WARU

    As seen, there must be projection dates for launching or rolling out of anything to do with Blockchain, it cannot be any quick scam..starting now now, because it is just not ready, as sensible people know.

    …Karatbars is growing its base of members FIRST. .as any sensible business would..

    “Future Development:
    New Blockchain with a flexible fee system which can be used worldwide for payment of transactions using gold independently transparent decentralized

    Development of a crypto phone together with Sony starting in 2019

    Expansion of the mine in Madagascar in 2019

    Launch of 10,000 ATM’s starting 2021

    Purchase 2 more gold mines by 2021”

  32. WARU Avatar
    WARU

    There are people in Barbados already affiliated with the Karatbar from 4 years ago, all they now need to do is switch to the Blockchain platform.. when it comes on stream..

  33. Bush Tea Avatar
    Bush Tea

    The problem with blockchain is that it is essentially a pyramid scheme …and ALL such schemes inevitably collapse when one of the foundation props fails…. Smart people keep away from trouble.
    If the CLICO demons did not get carried away with that US$100M scam in Florida, …perhaps CLICO could still be going as we speak, however it is much more likely that some OTHER issue would have pulled their plug.

    Block chain is a slightly different model of pyramid… in that it is build on top of an increasingly complex set of technology foundations – that must all function impeccably in order for the system to work.

    24 hour Reliable power systems to run the various systems wherever it is to be used
    complex telecom systems to provide instant communications for transactions
    Secure and yet widely available computer software to drive the transactions
    secure hardware systems to run the increasingly complex software (as security increasingly needs to be updated)
    Reliable technical support that fully understands the systems – BUT who are honest enough not to exploit this…
    A functional social environment will be needed
    EITHER to..
    —- secure personal data from prying (and preying) eyes
    …. or to have everyone ACCEPT that their personal information is going to be FULLY public

    In a world of increasing chaos … Who exactly is able to guarantee the above support structures for blockchain?

    Except for isolated pockets of society that exists in artificial environments (as many cities are…) at least one of the above pillars can be GUARANTEED to collapse on a regular basis… with devastating consequences – even worse than CLICO….

    The cost of keeping these pillars at the required performance levels will be equivalent to the costs associated with keeping the space shuttle flying without regular failures….. PROHIBITIVE
    ….especially when compared to the competing cost of printing a few million shiite coins and paper dollars that work whether the lights are on or off….

    All that glitters is NOT gold.

  34. WARU Avatar
    WARU

    That is what happens when they sit or lay on their beds and dream up shit to insert themselves in other people’s pockets without fully understanding what these types of inventions entail, small minds always get stalled.

    When the #1 – 5 banking conglomerates in the world, invested in Blockchain some years ago and are yet to launch any pilots…that tells us exactly what we need to know about the upcoming technology and why they are taking it slow.

  35. David Avatar
    David

    @Bush Tea

    What is the Fiat system we have today?

  36. David Avatar
    David

    Bitcoin is an output or product of the crypto methodology which the blockchain ledger system uses. Crypto technology is used by Fortune500 companies to secure its ‘systems’. People should read about the underlying technology which is in use today and not muddle it with bitcoin crypto currency etc.

  37. Bush Tea Avatar
    Bush Tea

    LOL @ David
    Boss, the current technology is also a tenuous pyramid just waiting to collapse… how is a ‘solution’ to move to an even more tenuous place?

    The problems that we face may be related to the fiat currencies that we have adopted, but the actual SOLUTIONS have little to do with the exact FORMAT of these currency systems.

    It is like a fella who has been diagnosed with cancer investing in new Chemotherapy equipment….

    The REALITY is that cancer is a very natural phenomena and in fact, the REAL solution is related to the EFFECTIVENESS of our immune systems to deal with this.
    Most of us are however inclined to continue with the SAME shiite lifestyles that compromised our immune systems in the first place – while looking to complex technologies such as chemotherapy to deal with the consequences…

    Same with Crypto….. and same result.

    Grass…

  38. peterlawrencethompson Avatar
    peterlawrencethompson

    If any of you are interested in actually understanding the implications of blockchain technologies rather than spouting inane misinformed drivel then you might want to read “What Problems Will You Solve With Blockchain?” in the MIT Sloan Management Review which is open for the general public to read on October 2nd and 3rd only.
    https://sloanreview.mit.edu/article/what-problems-will-you-solve-with-blockchain/

  39. peterlawrencethompson Avatar
    peterlawrencethompson

    @Bush Tea October 2, 2018 7:39 AM
    “… problem with blockchain is that it is essentially a pyramid scheme…”
    +++++++++++++++++
    You have made a category error, Bushie. Bitcoin and other cryptocurrencies are indeed (mostly) pyramid schemes, but bitcoin and other cryptocurrencies are NOT blockchain.

    Blockchain is a technology upon which cryptocurrencies have been erected, but that does not mean that cryptocurrency is the only use, or even an important use, for blockchain.

    For example, pornography is widely disseminated on the internet, but this does not mean that the internet IS pornography… unless of course, you are our friend Grenville 😉

  40. peterlawrencethompson Avatar
    peterlawrencethompson

    Just to be perfectly clear, many contemporary pyramid schemes utilize blockchain tech (@Dreamstarworld including Karatcoin) but blockchain is not a pyramid scheme.

  41. de pedantic Dribbler Avatar
    de pedantic Dribbler

    Mr BushTea you have this grand ability to take very rudimentary debates into a land of esoteric philosophical ramblings as you did above to equate this Blockchain methodology to a pyramid scheme….in your way of reasoning that ” [it is built] on top of an increasingly complex set of technology foundations – that must all function impeccably in order for the system to work” then surely life’s existence itself is a pyramid schematic, not so!

    But to the core point, I concur that a lot of this debate is rather inane – despite the Blogmaster’s attempts to simply expose the developing methods.

    Why rag on cryptography itself? What is that in simple terms other than the lock to our house or car. We can own the most expansive mansions or newest Telsa but unless we have a unique way to make that property our own and shut out strangers the fancy digs or car mean ziltch…

    The same with Blockchain….in essence that and cryptography are developed separately but their utility grows exponentially when used perfectly together to give us the pristine data void of hacks….

    That’s the fundamental debate which as a mathematician you know quite well…so why all the esoteric ramblings …

    You too love the Sarte style fueled “existentialism”. In one way or other those type thoughts are seen often with your posts…but is everything so ‘philosophical’!

  42. Hants Avatar
    Hants

    @ Bush Tea who wrote ” 24 hour Reliable power systems ”

    Absolutely essential in a digital world.

  43. Vincent Codrington Avatar
    Vincent Codrington

    @ Bush Tea

    @ WARU

    Thanks one million for adding your” ,”hard ears” people who like to hear “I told you so “. As Tom Adams is wont to say :” Let them stew in their own nastiness”.

  44. Vincent Codrington Avatar
    Vincent Codrington

    The above was messed up .

  45. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU

    You seem to have a dog in this fight.

  46. Vincent Codrington Avatar
    Vincent Codrington

    I will try again.
    @ Bush Tea
    @ WARU

    Thanks for attempting to bring some sanity to this debate. You have zeroed in on the real issues.

  47. Bush Tea Avatar
    Bush Tea

    Thanks Vincent.

    @ PLT
    Just read again slowly…
    This is a different type of ‘pyramid’ .. built on top of technologies that are unreliable in a chaotic world… poetic license… 🙂

    @ Dribbles…
    Trust you to cuss Bushie …and then agree…. lukewarm again….!!!

    OF COURSE life is one big pyramid….
    Is THAT not obvious?
    Do you understand entropy…?

    The ONLY important things in life are related to the ‘philosophical’’ components of being ‘alive’, Boss…

    Do you REALLY think that breathing air and eating shiite food for seventy years is ‘life’?
    LOL
    ha ha ha

    LIFE is a unique opportunity to be incorporated into an existence so fantastic and superlative that even Bushie is unable to contemplate the magnificence of it… It is like suggesting that being in school is an end in itself – rather than an opportunity to be prepared for a transformational role in society as an adult.

    If YOU want to ignore the related philosophical understanding of this concept – feel free
    – it suits your ‘neither hot nor cold’ approach….

    BUT NOT STINKING BUSHIE… hot to trot.
    ha ha ha

  48. David Avatar
    David

    If you follow the trend blockchain is the bed on which future products will be built.

  49. Vincent Codrington Avatar
    Vincent Codrington

    @ Bush Tea at 11 :47 AM

    Oh ,how easy it is for many of us,after being schooled at the expense of the tax payers, forget our transformational roles. But we must live in hope.

  50. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU at 1 :09 PM

    Are you really serious? You are flying another kite ,are you not? Is this the silver/magic bullet you are looking for? Mek me understand what you mean.

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