009. Blockchain Like Electricity with Jason Lee

Blockchain Expert, Jason Lee is the Expansion Director for the NEM foundation for Australia, New Zealand and South Pacific and was named one of Forbes Top 30 Under 30 Asia.

Jason compares blockchain tech to electricity. Electricity powers what we use all around us but it’s working behind the scenes. Blockchain protocols are similar. As we go forward with this technology it will become seamless. It will be the technology powering what we use all around us, working behind the scenes, like electricity.

We also talk about the Facebook data privacy scandal and Jason introduces the concept that “If you’re not paying for the product, you ARE the product.” Food for thought. But in a decentralized world, we could be paid for the data or personal information that we choose to provide.

Decentralization puts the power back into the consumer rather than the service provider. It begs the question, shouldn’t businesses pay consumers for the information they receive if it helps them with marketing, or allows them to sell advertising space to others business or if it helps improve business strategies?

Blockchain is changing the way we look at the world and changing the way the future world is going to look.

If you’re looking to get into blockchain tech, Jason recommends following your curiosity. Find out how it relates to your life, your work, your business or what you’re passionate about and use your area of expertise to dive into or develop the projects that peak your interest most.

Jason refers to NEM as a smart asset blockchain.

NEM.io

Big Unicorns, like Facebook, Uber, Air B+ B, are holding more and more information and whatever is centralized can be hacked. However, businesses can streamline processes through blockchain protocol, providing accuracy of information that is tamper proof — immutable.

Business have record keeping books, ledgers, only with blockchain tech this record book is placed around the world and maintained through cryptography and the power of the internet. And the record book can be updated, but no one can cook the books or go back and falsify records in the past.

NEM Foundation is a non-profit with a council that governs the protection, promotion, and development of the NEM blockchain. They are in 50 countries that talk to business owners and a distribute the NEM community fund.

Some NEM partner projects include:

Copyright Bank

https://beta.copyrightbank.com/

X Arcade

https://xarcade.io/

Travel By Bit in Brisbane, Brisbane airport….

https://www.travelbybit.com/

Choice in New Zealand uses QR code scanning and a portion can be placed into charity.

https://medium.com/choicetopay/why-we-started-choice-5f402f2324b8

Loyal Coin that aggregate all of the loyalty cards in your wallet and potentially tokenize your loyalty points.

https://loyalcoin.io/

XEM Cryptocurrency

https://en.wikipedia.org/wiki/NEM_(cryptocurrency)

We also talked about Smart Cities, like Dubai, who plan to have all city and government functions on a blockchain by 2020.

Smart Dubai

https://smartdubai.ae/

Centralized vs. Decentralized blockchains.

GDPR in Europe

https://www.eugdpr.org/

Right to Be Forgotten

https://en.wikipedia.org/wiki/Right_to_be_forgotten

ID 2020 is an alliance of organizations looking into this

https://id2020.org/

Blockchain Association of Australia

https://blockchain.asn.au/

FinTech Australia

https://fintechaustralia.org.au/

Australian Stock Exchange

https://www.asx.com.au/

Used to clear and settle up to 2 trillion dollars worth of cash in Australian equity markets. They have a plan to implement blockchain technology by 2020.

Jason Lee came to Australia because his wife, a medical doctor, got into a specialist program. He’s always had a love of learning and curiosity and was interested in what the future would look like and what we’re leaving for our children and our children’s children.

He can be reached at:

Twitter @jasonleecj

Jason@nem.foundation

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