Executive Summary One Sheet
Started by: Jehan Chu
- 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
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