The virtues of the blockchain is that it would be that it's peer-to-peer settlement - no centralized settlement, no manipulation... And most importantly, there's nothing to capture. It's consensus based. It's stateless.
Right now, you've got three days between a trade and a settlement, with hundreds of millions in settlement risk tied up in that time. That all goes away in a blockchain system because you've reunited the trade with the settlement. They're not two separate processes.
That kind of peer learning, that peer teaching, that peer evaluation, and then administration of insight.
The best kind of accountability on a team is peer-to-peer. Peer pressure is more efficient and effective than going to the leader, anonymously complaining, and having them stop what they are doing to intervene.
If facts, logic, and scientific procedures are all just arbitrarily "socially constructed" notions, then all that is left is consensus--more specifically peer consensus, the kind of consensus that matters to adolescents or to many among the intelligentsia.
2016 has proven to be the year where the most forward-thinking financial institutions are actually using blockchain technologies for payments and settlement rather than as an experiment.
I take pride in how I interview people. One of the things people come to our show for most is the interaction I have with the artists; it feels very peer-to-peer.
Most Internet business theorists are really looking at preserving the necks of giant, Fortune 500 companies, rather than promoting the digital, peer-to-peer economy that actually wants to happen.
The blockchain concept was pioneered within the context of crypto-currency Bitcoin, but engineers have imagined many other ways for distributed ledger technology to streamline the world. Stock exchanges and big banks, for example, are looking at blockchain-type systems as trading settlement platforms.
If you attack a mathematical problem directly, very often you come to a dead end, nothing you do seems to work and you feel that if only you could peer round the corner there might be an easy solution. There is nothing like having somebody else beside you, because he can usually peer round the corner.
But it is as silly to think about peer-to-peer as applying just to music as it would have been to think about the Internet as applying just to pornography. Whatever the initial use of the technology, it has nothing to do with the potential of the architecture to serve many other extremely important functions.
Learning by doing, peer-to-peer teaching, and computer simulation are all part of the same equation.
Social media changes the relationship between companies and customers from master and servant, to peer to peer.
The mobile Web, location-based services, inexpensive and pervasive mobile apps, and new sorts of opportunities to access cars, bikes, tools, talent, and more from our neighbors and colleagues will propel peer-to-peer access services into market.
People just don't realize how much peer pressure, the desire for peer acclamation, influences them.
Never give in to peer pressure, especially if the peer is not attractive.
I might say that when the settlement was made the Nixon administration issued what they called a second inflation alert in which the General Motors settlement was branded as being inflationary and bad for the country.