Executive Summary One Sheet

Aeron Buchanan edited this page Jun 8, 2015 · 11 revisions

Started by: Jehan Chu

Executive Overview

  • Ethereum is the next generation of blockchain technology; it is the future infrastructure of the internet
  • Ethereum was conceived by Vitalik Buterin, a 21y/o Peter Thiel Fellowship recipient and 2014 World Technology Award winner for software (beating out Mark Zuckerberg)
  • Ethereum has been realized by a dedicated team of world-class developers, lead by Gavin Wood, Jeffrey Wilcke and Vitalik Buterin.
  • Ethereum creates a platform to tackle the most challenging issues/opportunities in the online space including Fintech, security, Internet of Things, censorship, identity, and global money transfer
  • Ethereum is poised to disrupt industries from banking to resource allocation
  • Ethereum is free and open source; publicly available and no company or government controls its use

What does Ethereum do?

  • Ethereum provides a public tech platform to create online applications, similar to the way the internet is a platform to create website applications from banking to email to youtube.
  • Ethereum is new because it provides features such as guaranteed computation, user authentication, custom payment logic, etc, in a secure, open and unblockable way.
  • Ethereum provides a secure backbone to build on; it is a foundation level technology

How does it work?

  • Ethereum is based on blockchain technology; Bitcoin is an example of a simple technology also based on blockchain tech. Ethereum and Bitcoin are like apples and pears; same family, different fruits.
  • Think of a cloud-based system that has a bunch of apps that you pay for on a per-use basis; this is Ethereum. Anyone can build apps on Ethereum the same way apps are built on Android or the iPhone; there is virtually no fee or charge to build apps; users pay to use the apps they want to use
  • No one owns Ethereum; it is a freely accessible resource in a similar way to the internet

What is the potential?

  • Disruption in industries related to IoT, remittance, law, fintech, TBD applications
  • Fans/validators include: IBM+Samsung (ie. Adept), Nick Szabo, [add as many high-profile mainstream finance/VC/tech name checks as possible]

What is the downside?

  • young technology; evolution path unclear
  • small initial user base, unproven uptake of application development
  • future regulation

How can I invest or participate?

  • similar to “investing” in the internet; difficult to invest directly
  • can invest in ethereum development companies or applications, but not in the “ethereum company” itself
  • buy ether, but not the point

To learn more:

  • links
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