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Finding Genius Podcast

Digitalbits Foundation - Tokenization, micropayments and cross-asset transfers

Finding Genius Podcast

Richard Jacobs

Medicine, Health & Fitness

4.4 • 1K Ratings

šŸ—“ļø 2 July 2018

ā±ļø 17 minutes

šŸ§¾ļø Download transcript

Summary

TheĀ DigitalBitsĀ Project is an open-source software project used by theĀ DigitalBitsĀ blockchain network. In addition to supporting fast & low-cost micropayments & remittances, Enterprises are also able to tokenize assets on theĀ DigitalBitsĀ blockchain. Users are able to trade on-chain and the technology will automatically-trade (with multi-hop) in less than 5seconds. Loyalty points & rewards are one of the asset categories that the decentralizedĀ DigitalBitsĀ blockchain is able to support. There are over $100Billion in unused points currently in the US alone and 1/3 of points issued each year (representing approx $16Billion in value) are never used.

Transcript

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0:00.0

Welcome to Almost Here, Around the Corner of Future Technology Podcasts with Richard Jacobs.

0:07.0

Future Technologies

0:08.0

Boys to transform our lives for better or worse are the focus of this podcast. Almost here means these

0:14.8

technologies are now here and starting to be used or just around the corner for

0:19.6

Bitcoin to artificial intelligence, 3D printing, blockchain, virtual reality, and more.

0:25.0

Hello and welcome to Future Tech Podcast. I'm your host, Juliet Lamar and my guest today is

0:32.4

Al Burjio. He is the founder at the Digital Bids Foundation.

0:36.7

Welcome, Al.

0:37.7

Thank you, Julia.

0:38.7

Thanks for having me.

0:39.7

So I'm very intrigued. Why don't you go ahead and tell us about Digital Bit Foundation?

0:45.0

Sure, certainly. So the Digital Bit Foundation was actually created to really help support and visualize the Digital Bits Project.

0:56.2

And the Digital Bits Project is an open source project

1:00.6

for basically open source software that's been used to create the digital that's

1:07.8

blockchain network.

1:09.6

And it was, you know, various contributors helped contribute to the development of that project and its launch.

1:20.0

And the blockchain network went live in March of this year.

1:23.4

So we're really pleased to have seen it get to that milestone and the support that we've received.

1:30.4

In terms of the blockchain itself, obviously there's various different blockchains out there today from the granddaddy of it all Bitcoin and Ethereum and so forth.

1:40.0

In our particular case, Digital Bits blockchain is used for really certain specific use cases in terms of what we have it focused on today, but you can utilize it for the tokenization of assets.

1:57.0

This could be a digital asset, a legacy digital assets that's been brought brought onto a blockchain. The digital bits blockchain on the digital

2:08.3

bits blockchain you can tokenize assets this could be a legacy digital asset that's been disabled doing some sort of

...

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