The book was duplicated into Block 341705 by Dan McArdle, director of Digital Currency Council (DCC). An open source platform Proof of Existence as well as Blockchain Recordation Toolbox were used during the process. The process itself was validated in less than an hour.
Mr. McArdle says:
“This hash is unique to the book, and therefore could not have been generated before the book existed. By embedding this hash in a bitcoin transaction, the existence of the book on that transaction date is logged in the most secure and irrefutable recordkeeping system humanity has ever devised.”
The authors of ‘The Age of Cryptocurrency’ got a blockchain recordation certificate.
4 days ago, Paul Vigna and Michael Casey took part in one of the highly popular ask me anything sessions. Reddit users had a possibility to ask questions regarding anything. It was not a surprise to see that almost all the questions were focused on the brand-new book.
The Top 200 questions included below listed ones:
There is a lot of startups, investment and innovation in various cryptocurrency and blockchain technologies. What is the low hanging fruit and who’s playing the long game against regulatory institutions?
Holy Grail for now seems to be in developing apps that make international remittances feasible. The savings for immigrants and their back-home families from digital currency transfers could be significant.
What impact do you believe Bitcoin will have on economic growth?
Huge potential. Starting point: $80 trillion global economy. If you just save 3% in fees on that, you start with $2.4 trillion in savings. That’s about 16 times the total global development aid budget alone.
What is the advantage to using bitcoin over regular money at banks?
And the authors answered:
If you work for a company, if you’re a retailer, the advantages start to pile up. It’s faster, and cheaper. I’ve heard from and heard of retailers who are sold just on the cost savings versus credit cards.
You can have a look at the thread and find out some interesting questions and responses.