Ferdinando Maria Ametrano, lecturer in bitcoin and blockchain technology at the Politecnico di Milano, talks about the Blockchain in relation to its most known application, the bitcoin cryptocurrency.
As far as the Blockchain is concerned, Ametrano believes that this technology wouldn’t work if it wasn’t for Bitcoin. In fact, he affirms that the introduction of a financial incentive was crucial to allow Satoshi Nakamoto to solve the problem of distributed consensus. It is essential to build consensus among the nodes of a network on the status of a distributed ledger. “In fact, – Ametrano continues – the experts don’t speak of the blockchain, but they speak of distributed ledger technology, to indicate the generic idea of a master ledger, a data source, which certifies to everyone the fact that some events have happened”.
During the interview, however, he suggests using Blockchain to create applications that go beyond the bitcoin, but never quite apart from this economic incentive, which is the digital currency.
Ametrano explores the Blockchain future applications in notary services and also explores possible future scenarios for the bitcoin. He argues: “Bitcoin is not a good currency, because it is digital gold.” And continues: “[..] but it could be used to invent new currencies, the so called second generation currencies.” This new cryptocurrency, would use bitcoin as asset reserve, and could achieve price stability.
To understand more about the evolutionary future of this currency at the base of the other Blockchain applications, watch the full interview, filmed during the 38th Bitcoin Milano Meetup, a monthly meeting organized by Blockchainlab.