The Blockchain (and related: Cryptocurrencies as well as Initial Coin Offerings / ICOs) is currently one of the most talked about technologies around. You hear people hailing them as “the end of the financial system as we know it” with others comparing the potential impact of the technology to be as great or even greater than the Internet itself. Meanwhile, others observe that many ICOs are plain fraud, cryptocurrencies are nothing more than the next tulip mania and the blockchain is just a hyped decentralized database. And of course, the truth will likely be somewhere in the middle.
To understand the blockchain one must come to terms with its underlying technology. Short of going into a lengthy explanation, consider the blockchain as a way to store data – similar to a database with a few notable differences: The data itself is stored in a truly decentralized fashion; i.e., the information doesn’t reside on a single server or a series of tightly synchronized servers but rather a copy of the data is stored on many nodes in the network. Further, the data is stored in a way that it is effectively tamper-proof (through the use of some clever cryptography and linking each entry to each other into a chain).
The result of this is that the blockchain enables the storage of data in a way which doesn’t require any of the participating parties to trust each other – and this is truly novel. In every other infrastructure so far we have to trust at least one party; the blockchain makes trust obsolete.
This feature alone means that the blockchain, as a storage mechanism for data, has tremendous potential and will be quite disruptive. Everywhere where we typically don’t trust the other party (think about topics such as land rights in developing countries) or where we pay money to establish trust (a notary in Germany charges you quite a bit to establish trust between two parties), the blockchain has the potential to revolutionize the way we transact.
Moreover, the blockchain (at least some implementation of a blockchain – note that there is not a single blockchain but instead many blockchains) has another trick up its sleeve: Using technologies such as Etherium or Stratis you can add functionality to a transaction – turning data storage into a smart contract.
The simplest way to think about a smart contract is a magazine subscription: Every month you receive a copy of your favorite magazine and in turn once a year the publisher automatically deducts the cost of your subscription from your bank account. Smart contracts are clever little pieces of software which can settle payments based on verifiable conditions. For example, a merchant gets paid automatically once you signed for delivery of her products into your warehouse. This, in turn, reduces the level of trust one needs to have in a system and increases efficiency. The merchant doesn’t need to trust the customer that he will pay on delivery as agreed upon and the customer doesn’t need to have his accounting department keep track of the payment as it is issued automatically once the condition in the smart contract is met.
Taken together these two core features of the blockchain (a trust-less cryptographic store of data combined with the ability to execute software commands on it) is what makes the technology genuinely disruptive. Today we are mostly in the explorative phase of the technology. Organizations all around the world are wrapping their heads around the core principles and how to best use them in either existing or entirely new processes. As usual in these situations we see a lot of useless or plain wrong implementations – it takes time for a new concept to be fully digested and leveraged to its real potential. Having said that we will see many backend implementations of blockchain technology resulting in reduced cost, increased transaction times and reliability. Moreover, we will also see entirely new applications which just weren’t possible before.
From supply chains (Walmart is currently implementing a blockchain-based supply chain software, cutting down the time it takes to track an item on the shelf to the lot it was manufactured in from two weeks to less than ten seconds) to new peer-based banking and insurance products, the blockchain holds many promises which we will see play out over the next decade. Your first step in wrapping your head around the potential and possible pitfalls is to study the technology, as without a good understanding of the underlying principles one is stuck in either following or dismissing the hype without much thought for true potential.
Earlier this year I gave a keynote at the excellent NextM conference organized by GroupM in Copenhagen:
A new study published in The Royal Society indicates that open office workspaces (you know – the ones we thought were so cool, hip and trendy and made us work so much better together) create the exact opposite effect to what they are intended to do:
“In short, rather than prompting increasingly vibrant face-to-face collaboration, open architecture appeared to trigger a natural human response to socially withdraw from officemates and interact instead over email and IM.”
Important read for anyone kitting out their new office space.
Full study here: The impact of the ‘open’ workspace on human collaboration
Your first paragraph will be the boilerplate description of your organization.
Narrative description of role: 1-2 paragraphs of 5-8 sentences each that give an overview of the role. While you don’t want to be hyperbolic, you do want this to be attractive, so you will want to sell it.
Bulleted list of most important to least important responsibilities. In truth, candidates will self select based on just skimming the JD and won’t read the details unless/until they are granted an interview. This list should be not more than 8-10 bullets and won’t include each and every duty.
Bulleted list, starts with education and years of experience and is followed by most to least important skills or experiences you desire. E.g.:
I recently had some pretty annoying problems with my 2016 MacBook Pro Touchbar where it refused to play any sound or recognize my headphones including the microphone. The “Sound” preferences didn’t even recognize any audio interface anymore.
After a good two hours on Google and trying a bunch of things out, it turned out that one has to reset the SMC (System Management Controller) on your Mac to fix this.
Hope this helps some poor souls running into the same issues.
Recently I had the great pleasure of not only being on one Podcast but two – each with a slightly different twist:
First I talked with Bill Murphy from the amazing Redzone Podcast about “How to use Exponential Technologies to Innovate at the Edge”:
And then I was on Donnie SC Lygonis’ Constant Innovation Podcast, talking about… Innovation:
A few weeks ago I had the great pleasure of speaking at the DIE ZEIT FESTIVAL ‘Smashing Ideas 2016’ in Hamburg, Germany. My talk is a condensed version of what we are teaching here at Singularity University plus a short Q&A session with Manuel Hartung, Resortleiter Chancen at DIE ZEIT.
Hope you enjoy it.
The other day Fergal Byrne interviewed me for his Podcast “Inspiring Social Entrepreneurs”. We touched upon topics such as:
You can listen to the Podcast in many different formats and mediums on the Inspiring Social Entrepreneurs Website.
The other day I was contacted by a Google recruiter to serve as a reference for a former colleague of mine. In the process Google asked me to fill out an online form with a set of questions. I found the questions very thought- and insightful so I figured I share them here for your own recruiting efforts:
I recently brought Guy Kawasaki to Singularity University where he delivered a fantastic keynote on “The Art of the Start”.
Here’s the video:
I am extremely disappointed seeing you, a publication which self-proclaims to “inspire a new breed of innovative and creative thought leaders who are actively inventing the future of business”, perpetuating a view of the world and fellow entrepreneurs which is sexist and one-dimensional.
“Birchbox’s co–CEO, wearing a dark monochrome dress that provides an understated canvas for her impeccable jewelry game […]”
Reducing Katia to her “impeccable jewelry game” is offensive and sexist. I am sure you would never start out an article about a male founder with a statement about his “impeccable tie game”.
Writing this as a white male - it offends me that you (and many of your colleagues) reduce my women entrepreneur colleagues to their choice of fashion instead of their incredible achievements.
Please live up to your motto and see people for what they do - not their gender, ethnicity or any other superficial distinction.
Earlier this week I had the great pleasure and honor to present a modified/expanded version of my “10 Lessons for Entrepreneurs” talk at Singularity University’s Executive Program.
The other day I stumbled across the following headline on The Verge: “Stratos is not just another all-in-one smart card”.
The product described in the article is a “smart” credit card which allows you to combine any three cards (e.g. your personal and business credit card plus your Starbucks loyalty card) in one Stratos card which is hooked up to your phone and allows you to select, with the push of a button, the card you want to use.
The following post is a summary of a series of earlier Heretic posts on the subject compiled into one comprehensive list - compiled by the wonderful folks at Unreasonable.is
Your pitch deck MUST start with a description of what it is that you’re doing. Your second slide (after the cover slide) is titled “What is NAME-OF-YOUR-COMPANY” (e.g. “What is eBay”). Explain in simple English what you’re doing. This is not the place to be clever, show off your extraordinary grasp of the English language or think that your pitch deck is a novel where you build tension and excitement in the first half and surprise the reader in the end.
If I (or any investor for that matter) don’t understand what you are doing in the first 10-15 seconds you already lost me. I know investors who don’t go past slide two if they don’t grasp what the company does.
In my potentially never-ending quest to get on top of the ever-growing email onslaught, I came across Tony Hsieh’s Yesterbox method/manifesto. It’s a deceptively simple but effective way to deal with your inbox: You only answer the emails from yesterday (plus the very few emails which require immediate attention). That way you get a chance to be on top of your email (as the number of emails from yesterday is finite) instead of being caught in an endless game of whack-a-mole. Plus people will get a guaranteed response from you in less than 48 hours - whereas in the past I often skipped more complex emails for days as I was constantly dealing with new incoming mail.
For a while I toyed around with different setups. Until I settled on the following Gmail configuration which works beautifully for me: