Most services today are centralized — sharing photos via social networks, uploading files to the cloud, sending and receiving money. In fact it’s how the world has been organized for hundreds of years. But history has proven that the centralized model is flawed and inefficient. Power concentrated in the hands of a few has always been at risk of corruption, greed and chaos.
http://blogs.wsj.com/accelerators/201...nt-decentralized-computing-revolution
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What if you could cut your mortgage rate, make it easier to update your will, and ensure that your buddy was never able to weasel out of paying up on a bet? That and much more is the promise of smart contracts, a technology that is getting closer and closer to reality thanks to cryptocurrency.
Smart contracts are computer programs that can automatically execute the terms of a contract. Someday, these programs may replace lawyers and banks for handling certain common financial transactions.
And the potential for smart contracts goes way beyond simple transfers of funds. The door of a car or a house could be unlocked by connecting smart contracts to the Internet of everything. But as always with this cutting edge of financial technology, major questions abound: How will this all align with our current legal system? And, of course, will anyone actually use these things anyway?
http://www.fastcolabs.com/3035723/app...s-could-be-cryptocurrencys-killer-app
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Specifically, the bill reads: "Any request by a government agency to interrupt communications service utilizing a technological solution required by this section is subject to Section 7908 of the Public Utilities Code."
http://www.dailydot.com/politics/cali...utm_source=facebook&utm_campaign=main
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http://new-compass.net/articles/bookc...-%C3%B6calan-and-dialectics-democracy
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