The Evolution of Blockchain | Nicola Morris | TEDxDirigo
With thoughtful clarity and humor, Nicola Morris demystifies bitcoin [BTC] and positions it as the future of value exchange. This informative talk dissects the mechanisms of bitcoin [BTC] as well as its possibilities, and examines how this system can create more trust and transparency across the many ways we buy, sell, or analyze value. A member of the WEX team since 2014, Nicola Morris leads the corporate development team and is responsible for corporate strategy, M&A, marketing, and new business ventures, including our businesses in Latin America and Australia. Prior to joining WEX, Nicola worked at Verizon Communications, where she was focused on new business opportunities, identifying M&A targets and creating communications related to Verizon’s growth strategy. Nicola has also previously worked at Digex, Iridium and for the U.S. government.
She currently serves as a trustee on the Portland Symphony Orchestra Board and as a director on the Center for Grieving Children’s Board. She received bachelor’s degrees in economics and Chinese language from Wellesley College and a master’s in international affairs from the Johns Hopkins University School of Advanced International Studies. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx
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In the midst of the current bitcoin frenzy, where regular users and traditional investors are looking at it as a safe haven investment or a cheaper payment method, some companies are realizing the value in its underlying technology and the applications that can be built on it. This is the case with telecommunications giant AT&T.
The multinational telecommunications conglomerate was recently awarded a patent for a bitcoin-based subscriber server, which was filed over two years ago in April 2015. The patented server uses the actual bitcoin blockchain to automate payments and to process subscriptions more efficiently.
The reads:
A decentralized and distributed secure home subscriber server is provided. First data can be sent representing a first nonce string to a mobile device; and in response to receiving second data representing the first nonce string and a second nonce string, a communication channel can be established with the mobile device as a function of the first nonce string.
[T]he disclosed decentralized and distributed secure home subscriber server system can leverage the bitcoinblockchain; the distributed database in the bitcoin infrastructure.
[…] in cases where the decentralized and distributed secure home subscriber server system utilizes the bitcoinblockchain, advantage can be taken of the plethora of nodes contributing and maintaining the security of bitcoin transactions.
AT&T decided to use bitcoin itself for security reasons as opposed to building a private blockchain, thus leveraging bitcoin’s superior network and hashing power. The use of the bitcoin blockchain could also mean that bitcoin itself may one day be integrated as a payment method for content or phone and cable bills, freeing AT&T from middlemen fees.
Although the prospect of or even a backend integration is exciting, the recently awarded patent is not AT&T’s first bitcoin-related endeavor, as the company has previously filed another patent which currently awaiting approval.
The previous patent filed by AT&T was for a bitcoin-powered payment system for , a more ambitious project that could take years to be fully developed.
No official comments have been made by AT&T regarding the use of blockchain technology nor the possible adoption of cryptocurrency payments.
Is AT&T planning to integrate bitcoin payments to its services? Will the bitcoin blockchain be used by AT&T as a backend component? Let us know what you think in the comment section.
Images courtesy of Shutterstock, huffingtonpost.com
With thoughtful clarity and humor, Nicola Morris demystifies bitcoin [BTC] and positions it as the future of value exchange. This informative talk dissects the mechanisms of bitcoin [BTC] as well as its possibilities, and examines how this system can create more trust and transparency across the many ways we buy, sell, or analyze value. A member of the WEX team since 2014, Nicola Morris leads the corporate development team and is responsible for corporate strategy, M&A, marketing, and new business ventures, including our businesses in Latin America and Australia. Prior to joining WEX, Nicola worked at Verizon Communications, where she was focused on new business opportunities, identifying M&A targets and creating communications related to Verizon’s growth strategy. Nicola has also previously worked at Digex, Iridium and for the U.S. government.