In Part 2 of this podcast, host Karim Nurani welcomes back Co-Founder of the Honest Impact Fund Natalia Olson to discuss Fraud Traceability, Disrupting the Status Quo, Citizen Engagement, Quantum Computing, and a New Privacy Economy
In this podcast, we explore six major themes:
During the Obama administration, the Department of Justice funded blockchain projects to enable fraud traceability. Part of the financial aid to Central American countries included blockchain applications to identify real estate transactions related to narco-trafficking. The technology was used to identify the rightful owners and convert the transfers into digital contracts.
Disrupting the Status Quo
When we have new industries and new ways of doing things, I think that disrupting the status quo is a good thing. Disrupting is what we have done in the US for the last 50, 70, 100 years. We need to keep going the same way. We wouldn’t have innovation if we didn’t break the mold and create new molds and get more inputs from more people. It happens a lot when there’s a division of voices from the community.
One of the reasons why I enjoy this democratization is because of the citizen engagement. As urban planners, we cannot just go and design something without citizen input. A plan for a particular bridge might work for an engineer or urban designer, but it might not be in the best interests of the citizens who know that community, or that city or neighborhood.
For the new technology infrastructure to properly support blockchain and digital assets, we will need quantum computing and edge computing just because of the processing demands to enable efficiency. For example, Nodle is an IoT company that connects devices within cities to support much more efficient processing.
Traceability and Logistics
Easy access to traceability data for products is important, if we want to know what was the climate impact of distribution, or if a food product is organic. Being able to track from farm to table is all about logistics and supply chains. This has all become much more visible during the pandemic.
A New Privacy Economy
It’s become more important to be able to shield our persona, so to speak. I think that the GDPR in Europe is working, but it’s a little too much overreach, unfortunately. In the US, it’s more about allowing companies to grow; let’s not over-regulate them, and we’ll figure it out later. However, we do have to start looking at what I call the new privacy. Just as we created the sharing economy, I think we now need to build the privacy economy.