At the beginning of the year, Julien Mbony co-founded Blockchain Hub Québec, a non-profit organization whose goal is to promote the blockchain's potential of blockchain. Like many, the young entrepreneur is convinced that this technology will bring about profound transformations in certain industries.
cryptocurrencies, which are based on this technology, caught its attention for the first time at the turn of the year 2013, while WikiLeaks was making headlines for its disclosures of diplomatic information.
Soon, the governments wanted to scuttle the financing of the organization and several big banks blocked the money transfers. WikiLeaks then turned to donations in bitcoins to circumvent the embargo of these institutions.
"This is a form of freedom that is given to people in relation to their assets, that's what marked me," recalls the young entrepreneur.
Replace trusted third parties
If those who wanted to give WikiLeaks were able to bypass the banks, the chain of blocks could also eliminate third parties of confidence in other areas, such as insurance or real estate.
"It's code, mathematics and cryptography, an exact science, so all the information that is transacted, we know that it is valid and we can not go back," says Julien Mbony.
The holder of a baccalaureate in finance believes that the elimination of intermediaries is particularly interesting where the population does not trust its institutions.
In a blockchain, all information is distributed to all users in the network. Computers in this network have a copy of a ledger that is used to authenticate transactions.
In the case of bitcoin, this authentication process is performed by minors who, in exchange for their work, receive a payment in cryptocurrency.
"Cryptocurrency is the blockchain's research and development. All the attention is there, there is money to be made, so it gives people an incentive to develop the technology. "
Interfaces to develop
The blockchain is first and foremost a way of structuring a database, a structuring network that can support a variety of applications, as the Internet serves as a base for emails and social networks.
For blockchain technology to be widely adopted by the public and businesses, it will be necessary to design simple interfaces to use.
"What's missing are the apps that make it really user friendly, to the point where people will not realize they're on a blockchain platform. We go to there, "says Julien Mbony.