12. Assessing Use Cases

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  • เผยแพร่เมื่อ 22 ม.ค. 2020
  • MIT 15.S12 Blockchain and Money, Fall 2018
    Instructor: Prof. Gary Gensler
    View the complete course: ocw.mit.edu/15-S12F18
    TH-cam Playlist: • MIT 15.S12 Blockchain ...
    In this lecture, Prof. Gensler talks about how to assess the costs and benefits of any potential use cases.
    License: Creative Commons BY-NC-SA
    More information at ocw.mit.edu/terms
    More courses at ocw.mit.edu

ความคิดเห็น • 95

  • @tobiasfan5407
    @tobiasfan5407 3 ปีที่แล้ว +88

    He's so good at dissecting students' questions and addressing the core ask. I really like this guy.

    • @amidworkin
      @amidworkin 2 ปีที่แล้ว +1

      Always brilliant and now the chairman of the SEC. His opinions matter.

    • @marlonhopeton574
      @marlonhopeton574 2 ปีที่แล้ว +3

      I prefer his brother

    • @roilhead
      @roilhead 2 ปีที่แล้ว +2

      But can't give a straight answer to crypto companies and exchanges about what the rules are despite being asked repeatly. Yeah great teacher... then starts at the SEC and he's not a great teacher???

    • @farsyds
      @farsyds 2 ปีที่แล้ว +1

      @@roilhead I'm sure you could have done a better job.

    • @roilhead
      @roilhead 2 ปีที่แล้ว

      @@farsyds Guess you haven't heard that your mentor was funded by Epstein and when the scandle came out further funds from Epstein were then presented as 'donations'.
      The lectures that GG made were funded by Epstein and his pedo money... How about them apples. Who's the teacher now.....!!!

  • @priyakhare9597
    @priyakhare9597 ปีที่แล้ว +4

    great session , Happy birthday to Gary , love his teaching style , all the previous class teachings he has consolidated so well in this session .

  • @andrewl7576
    @andrewl7576 3 ปีที่แล้ว +53

    Gary Gensler, you are a great prof.and an incredibly amicable person. Great lectures. Congrats on your appointment to the Biden administration.

    • @NazriB
      @NazriB 2 ปีที่แล้ว

      Lies again? Serie A Leader

    • @vickycruz7380
      @vickycruz7380 ปีที่แล้ว

      Vicky Angelique Cruz 💵

  • @brendanriordan3841
    @brendanriordan3841 3 ปีที่แล้ว +13

    Happy birthday Gary!

  • @trent797
    @trent797 3 ปีที่แล้ว +10

    I definitely liked the "Letter to Jamie Dimon" pdf. If I had to explain crypto to someone who didn't understand it, I would send them that PDF.

  • @brainstormingsharing1309
    @brainstormingsharing1309 3 ปีที่แล้ว +4

    Absolutely well done and definitely keep it up!!! 👍👍👍👍👍👍👍👍

  • @kingdomovies
    @kingdomovies 2 ปีที่แล้ว +4

    at 32:20 Gary looks so happy listening to the question and he asks for clarification at 32:24 and the student ignores him and keeps going and Gary's confused ass face afterwards at 32:28 cracked me up so hard

  • @apkidlafirm522
    @apkidlafirm522 2 ปีที่แล้ว +2

    Great lectures thumbs up for Prof. Gensler :) wish amazing gift of explanation on both him and his brother, very generous of mit to share these :)

    • @roilhead
      @roilhead 2 ปีที่แล้ว +1

      But despite repeatly being asked by numours parties he will not give a straight answer to their questions and takes them to court.

  • @malwandlarikhotso
    @malwandlarikhotso 2 ปีที่แล้ว

    Wish I had found this sooner. Great presentation.

  • @prula
    @prula 3 ปีที่แล้ว +32

    In the future there will be payments between machines. For Example, a self driving car, will refuel automatically at a fueling station. To create a safe and trusted record of what happend, a blockchain ledger of actions would be useful, for example "car xyz arrived at 2:30. car xyz bought 10kwh, car xyz left station at 2:45" so if anything goes wrong, there would be immutable proof, who or what would be involved in the problem.?! Just an idea!

    • @RegularAlien100
      @RegularAlien100 3 ปีที่แล้ว +1

      A transaction ledger indeed!

    • @pogchamp9446
      @pogchamp9446 3 ปีที่แล้ว

      Damn. Mind blown

    • @TheTacoReview
      @TheTacoReview 2 ปีที่แล้ว

      That has already happened and it failed because of competition among fuel retailers and systems. There’s not a compelling case to automate that transaction

    • @gregorysanchez6903
      @gregorysanchez6903 ปีที่แล้ว +1

      Don't give away business secrets

    • @buildlackey
      @buildlackey 7 หลายเดือนก่อน

      ​@gregorysanchez6903 Why not?
      if one gets satisfaction or joy out of sharing ideas Why deny such person that satisfaction?
      Not Everyone has the. Same Values..

  • @tcooksey1972
    @tcooksey1972 2 ปีที่แล้ว

    Loved this lecture. Thank you Gary Gensler!

  • @sachinagrawal5803
    @sachinagrawal5803 2 ปีที่แล้ว

    Kudos Gary, for delivering such a great course and happy birthday. And thank you MIT OCW for making this course available. Takes me back to my own LBS Sloan days!

  • @ryoh4607
    @ryoh4607 2 ปีที่แล้ว

    this guy was ahead of his time. in 2018 hes talking about trends that are just manifesting right now: composability, scalability, zero knowledge proofs, etc....so much alpha here

  • @tmnleggy8665
    @tmnleggy8665 2 ปีที่แล้ว +12

    Im surprised nobody brought up autonomy and how blockchain will be the stepping stone to create a autonomous world. We live in a world filled with algorithms that were addicted to. Now we have an algorithm for money. I don't think people understand how valuable this is. Nature is an algorithm.

    • @roilhead
      @roilhead 2 ปีที่แล้ว

      Gary wants to stop Crypto, not promote it's use case.

    • @nhaake
      @nhaake 2 ปีที่แล้ว

      @@roilhead i don't think that is the case. This guy is way way to educated and interested in blockchain . I don't think it was an accident he got the sec job. I think he is going after xrp because they are the wrong side of this battle. Almost like two sides of elites fighting for control. Seems xrp is on the other side. Which side is better for us ? Probably neither but ...or this is a way to delay xrp until it's the right time

  • @j.abbass5061
    @j.abbass5061 ปีที่แล้ว

    Great lectures - so interesting.

  • @kegomania
    @kegomania 2 ปีที่แล้ว

    This conversation is so important to the future that I feel Gary and these students must reconvene to do this lecture again.

  • @tyleradams9545
    @tyleradams9545 2 ปีที่แล้ว +1

    A video of Gary Gensler actually doing his job?

  • @centaliu1
    @centaliu1 3 ปีที่แล้ว +2

    Can we amend the append-only log by adding another item to the log?

    • @carloslope159
      @carloslope159 3 ปีที่แล้ว +1

      No, once it has been mined and published under consensus there is no change to the log (block or record)

  • @BANYAT_W
    @BANYAT_W 2 ปีที่แล้ว

    Thank you

  • @austinmeek2411
    @austinmeek2411 ปีที่แล้ว

    Is there a way to see what these students came up with for their use cases and final project submissions?

    • @mitocw
      @mitocw  ปีที่แล้ว

      We do not have the student projects for publication. What materials we do have available is on MIT OpenCourseWare at: ocw.mit.edu/15-S12F18. Best wishes on your studies!

  • @campusseoul
    @campusseoul ปีที่แล้ว +1

    I see MIT Sloan Management Review at Barnes & Noble.

  • @michaels8297
    @michaels8297 2 ปีที่แล้ว +3

    store police dash cam footage on a blockchain

  • @xxxxxjjjjj62
    @xxxxxjjjjj62 3 ปีที่แล้ว +2

    Subprime debt amounted to 2.3T before the financial crisis when the us stock market has a value of 29T, now with a 50T equity market we just need crypocoin market value to reach 4T to create a financial crisis to the magnitude of 2008. every several years the Wall Street will come up something that bring havoc to the world, you can argue bitcoin is not created by Wall Street, but securitization of bitcoin greatly facilitate it. Mr. Gensler now that you are the Chair of SEC, it is time for you to do something for this country, saving the Great America from another financial crisis.

  • @joshnengi
    @joshnengi 4 ปีที่แล้ว

    Good class, Prof.
    How does one get the readings? Like the five page article listing use cases you mentioned in the last quarter of the lecture? Thanks

    • @joshnengi
      @joshnengi 4 ปีที่แล้ว

      @@wathomemalinda thank you.

    • @bariswheel
      @bariswheel 3 ปีที่แล้ว +1

      @@wathomemalinda thank you kindly!

    • @neilspencer6843
      @neilspencer6843 3 ปีที่แล้ว +1

      @@bariswheel I cannot see the persons comment but how do I view the readings also?

  • @DocDanTheGuitarMan
    @DocDanTheGuitarMan 2 ปีที่แล้ว

    Could autonomous AI driven avatars that truly and reliably represent their human interests solve the collective action problem?

    • @julkiewicz
      @julkiewicz 2 ปีที่แล้ว

      Reliably representing human interests is one of the hardest problems in artificial intelligence, arguably harder than actually developing GAIs - general-purpose AIs. So it's kind of like solving a hard problem assuming you already somehow have a solution to an orders of magnitude harder problem.

  • @snaggythethird2013
    @snaggythethird2013 ปีที่แล้ว +3

    It’s interesting to me how evident the concept of unconscious bias gets when the class discusses the necessity of censorship. Of course from the security and comfortability of our western view this seems like something that only criminals would want. Luckily we live in mostly stable countries with stable governments and economies.
    But what if we change our point of view for once to that of people who live under suppressive regimes? Regimes that can shut down access to your own money? Might seem like an exaggerated scenario to us, but African and South American population might widely disagree with our view on the necessity of censorhsip

  • @andreasandr3363
    @andreasandr3363 3 ปีที่แล้ว +4

    Does anyone know how we get the readings ?

    • @mitocw
      @mitocw  3 ปีที่แล้ว +17

      See the Readings section on MIT OpenCourseWare at: ocw.mit.edu/courses/sloan-school-of-management/15-s12-blockchain-and-money-fall-2018/readings/. Best wishes on your studies!

    • @andreasandr3363
      @andreasandr3363 3 ปีที่แล้ว +3

      @@mitocw Thank you , i really appreciate it

    • @boardvision11
      @boardvision11 3 ปีที่แล้ว +1

      @@mitocw Thank you!

  • @DocMatthews0311
    @DocMatthews0311 3 ปีที่แล้ว

    Gary is awesome

  • @UNLTDvision
    @UNLTDvision ปีที่แล้ว

    He remembered one dude by his name in beginning who understood outside of themselves and remembered everything else built on "censorship resistance" because none of them understood the point of what that phrase means. If you give one a rule, u must give all. That includes the resistance of resistance. Their are levels of resitstance so which turns later into understanding when you get to decentralization. the majority who was debating a singular point. quite odd of. hope that makes sense to at leas 1 person. and he

  • @prula
    @prula 3 ปีที่แล้ว +5

    The last question was poorly answered. The miners get newly minted BTC as reward + Fees. Every transaction hast to be paid with a small amount of Satoshis. In the year 2140, when the last BTC is minted, the miners will still receive the fees, which by then should be incentive enough, to keep on mining.

    • @RenatoMelloSF
      @RenatoMelloSF 3 ปีที่แล้ว +3

      but then couldn't the fees be so high that isn't worth transacting in BTC?

    • @prula
      @prula 3 ปีที่แล้ว +5

      @@RenatoMelloSF Germany repatriated their gold from the us recently. It cost severally million and took 2 years. If btc transaction costs rise to $1000 it world still have been thousand times cheaper and faster. Also you have 2nd Layer Solutions like Lightning. But Few wants to buy coffee with btc!

    • @raman8609
      @raman8609 2 ปีที่แล้ว

      @@RenatoMelloSF Btc will more be like store of Value. More holders will be there hopefully.

  • @merrick8000
    @merrick8000 2 ปีที่แล้ว

    Jacked to the tits seeing Gary beloved by his students.
    Lot of people counting on him in the year 2021

  • @pavoutsinas
    @pavoutsinas 3 ปีที่แล้ว +1

    @Prof. Gary Gensler - What are your thoughts on the Chia Project (XCH) and their use of proof of time and space to bridge the gap and provide infrastructure and security needed for mainstream use of a decentralized blockchain to make digital currencies viable in real world use cases? *Full disclosure I have 3.5 Petabytes of hard disk space I am dedicating to the infrastructure of Chia.

    • @pavoutsinas
      @pavoutsinas 2 ปีที่แล้ว

      @Ben Palaskas I thought it would destroy SSD's also. After plotting almost 4PiB I can say that all the SSD's are still working. I have 3,200 TBW written on some and they still pass tests and function 100%

  • @alexkorm11
    @alexkorm11 2 ปีที่แล้ว +2

    Lecture on use cases of bitcoin, and only 67k views lol

  • @GR-gk8dh
    @GR-gk8dh 3 ปีที่แล้ว +1

    23:00

  • @samferrer
    @samferrer 2 ปีที่แล้ว

    The permissionless concept kind of make no sense, since any system is embedded into a bigger one, where a structure of permission is needed ...

  • @AB608052
    @AB608052 3 หลายเดือนก่อน

    People are using the terms, 7 transactions per second for Bitcoin and etc. As somebody that likes physical chemistry, this is really heinous (even though everyone does it). How many unique instances of Bitcoin are running on the web? 1. So that term would suggest, the 1 bitcoin network is processing transactions linearly in time, 7 per second, which means that Bitcoin will never catch up, and if you turned it off, it would still be processing transactions until the year 4000. Doesn't it make more sense to say, a transaction on Bitcoin takes approximately 1/7 seconds?

  • @OnlyEirik
    @OnlyEirik 3 ปีที่แล้ว

    1:11:50 Lecture 12. and he didnt even read the whitepaper...

  • @samferrer
    @samferrer 2 ปีที่แล้ว

    I don't get the argument about the bank going away. The role of the bank is primarily to store value ... then everything got screwed up ... banks (of any nature) are not going away ...

    • @CarlosMartinez-lx1bl
      @CarlosMartinez-lx1bl 2 ปีที่แล้ว

      If they are found corrupt (witch a lot will be as i write this) they will go away.

  • @joeyreddick6036
    @joeyreddick6036 2 ปีที่แล้ว

    my data mckinsey uses

  • @milosmastilovic9640
    @milosmastilovic9640 3 ปีที่แล้ว

    You got a fast call after you talked about the 2 opportunities.. lol

  • @benjaminkaarst
    @benjaminkaarst 2 ปีที่แล้ว +2

    Brodish needs to just listen.

  • @Mondegreen2020
    @Mondegreen2020 2 ปีที่แล้ว +1

    I thought Gensler was single just a few lectures ago, now he's got a girlfriend. He moves faster on women than he does on wrecking Ripple and Coinbase.

    • @digitalperplexities
      @digitalperplexities ปีที่แล้ว +1

      Comment of the day, hello from the future, not sure how his dating is going but his suing Ripple is still ongoing... 😂

  • @joeyreddick6036
    @joeyreddick6036 2 ปีที่แล้ว

    no form of money is decentralized

  • @santizd
    @santizd 2 ปีที่แล้ว +4

    This class is better in speed 1.25, thank me later

  • @AnonymousanonymousA
    @AnonymousanonymousA ปีที่แล้ว

    BUUUUUU SHIIIIIIIIII

  • @mresilient1641
    @mresilient1641 ปีที่แล้ว

    XRP is a digital currency

  • @joeyreddick6036
    @joeyreddick6036 2 ปีที่แล้ว

    censor heavily i am

  • @joeyreddick6036
    @joeyreddick6036 2 ปีที่แล้ว

    not if your the the first person to bring bitcoin to blockchain

  • @scottmorgan6769
    @scottmorgan6769 2 ปีที่แล้ว +1

    this guy has earned 3 million plus from crypto!! now he wants to starve everyone of his success, ill be you're huckleberry Gentler,

  • @lawniczakjohn
    @lawniczakjohn 11 หลายเดือนก่อน

    If you are watching all the lectures in order, you could skip this one, as this is the most boring and doesn't present anything new, especially given the date.