The popular digital currency Bitcoin, with a market capitalization of over $16 billion, was in the news over the weekend after it recrossed the $1,000/Bitcoin value threshold.Despite the buzz around Bitcoin, there is another cryptocurrency-related project that is poised to revolutionize the way in which we exchange.The Ethereum Project, an open source platform developed by 22-year old programmer Vitalik Buterin, is seeking to build upon the blockchain technology established by Bitcoin by allowing developers to use the blockchain to build decentralized applications.The blockchain is a decentralized database where records and entries are virtually unchangeable.While Bitcoin utilizes blockchain technology to manage a currency, the Ethereum Project provides an open source environment where programmers can create applications on the blockchain.Tristan Winters, a reporter at ETHNews, the leading online Ethereum news site, explained to me the Ethereum project in layman’s terms: “Ethereum is a ‘world computer.’ Instead of hosting apps on a server, you host them on the Ethereum blockchain and p2p network (world computer).

So the apps are censorship resistant and no one can shut them down, even if they want to.” Ethereum is driven by Ether, a cryptocurrency that acts as “fuel” for the system.According to the project’s website, Ether is a necessary element that ensures that developers are writing quality applications: Ether is a necessary element — a fuel — for operating the distributed application platform Ethereum.bitcoin nuevo orden mundialIt is a form of payment made by the clients of the platform to the machines executing the requested operations.comprar bitcoin bogotaTo put it another way, ether is the incentive ensuring that developers write quality applications (wasteful code costs more), and that the network remains healthy (people are compensated for their contributed resources).ubuntu bitcoin remove

Because of the open source nature of Ethereum, its has almost limitless functions.Developers have proposed and began work on decentralized file storage systems, financial systems, and business management systems.Ethereum allows actors to create smart contracts, which are programs that run on the blockchain that can handle currency in a way that is unchangeable.Smart contracts can be used for a variety of business functions, such as the representation of shares, organizational voting, and fundraising.The decentralized nature of the Ethereum blockchain would allow for social networks that are truly resistant to censorship.Unlike Facebook or Twitter, a social network operating on Ethereum wouldn’t be accessed via centralized servers.Such a network would exist as a peer-to-peer network that lives on computers throughout the world.Because such a network would have no centralized body, censorship would be extremely difficult.Although it is unclear what the future holds for the Ethereum Project and the value of Ether, it seems likely that there is increasing interest in decentralized applications that have the potential to liberate an increasingly centralized world.

Tom Ciccotta is a libertarian who writes about social justice and libertarian issues for Breitbart News.Five years ago, I wrote this article asking whether crowdfunding was the future of independent film finance.Today, I am writing about the next frontier of film finance via crowdfunding, and it revolves around blockchain technology.What I called crowdfunding five years ago was the concept of using sites such as Kickstarter and Indiegogo to raise money for a film project in exchange for a reward of some kind.Rewards most often took the form of DVD copies of the film or tickets to the premiere screening or movie posters or other goodies.With no equity participation, people who contributed dollars were donors and their contributions were typically modest.In November 2016, Indiegogo partnered with MicroVentures to launch a new investment platform called Equity Crowdfunding.This created the opportunity for small-scale, individual investors to take an equity stake in the startup companies or the artistic projects they back.

So instead of being donors, people who contribute dollars are now equity participants.With increased upside potential and long-term alignment of incentives, individual contribution amounts are typically greater than before and, thus, overall fundraising rises to entirely new levels.As opposed to raising tens of thousands of dollars, companies now aim to raise millions of dollars using these crowdfunding platforms.Recently blockchain technology has received considerable press attention.The most well-known blockchain technology protocol is called Bitcoin.A lesser known, but potentially more powerful blockchain technology protocol, is called Ethereum.One element of Ethereum that differs from Bitcoin is its use of smart contracts.A significant amount of the recent press attention showered upon blockchain technology focuses on the massive growth in value of cryptocurrencies such as Bitcoin and Ether.Attention has also been paid to the large amounts of money (ie.millions of dollars) being raised by blockchain tech startups via ICO’s (initial coin offerings) and token sales.

TechCrunch recently published an article titled WTF Is An ICO?Until recently, ICO’s were focused on raising money for blockchain tech startups primarily.However, an exciting occurrence is taking place next week.For the first time ever, a feature film project will raise its production budget via an Ethereum crowdsale.The film is called Braid and its producers are raising $1.4 million via this new frontier of film finance.This marks a historic milestone for independent film finance.While key players in the world of blockchain technology are aware of this milestone, the traditional players in the indie film finance world will likely not be aware of, nor understand, this method of fundraising for some time.Historically, the traditional media industry has never positioned itself as an early adopter of cutting-edge technology innovation.And this new method of film finance is truly revolutionary and potentially disruptive.Mitzi Peirone is the writer/director of Braid.She explained to me what prompted her interest in creating a new economy for independent film industry.

“What really got me married to the cause was seeing the status quo of Hollywood production studios just holding on to the same stories, holding on to the same formulas because they know it works.Meanwhile, independent filmmakers are struggling to get funds because all they can really use is Indiegogo and Kickstarter but they're a donation, it's like charity.I wouldn't invest into one of those movies because it could go on to make millions [of dollars] and I wouldn't see a return.” “I'm a woman.Most directors are men.There's like seven or nine percent of directors out there who are female.We are raising money in this new, obscure way.The story [of our film] is unusual, it's diverse and it's controversial.It's like we are the ultimate underdogs but we're doing it.” I also spoke with the film’s producers, Logan Steinhardt and Arielle Elwes, about this new, disruptive form of fundraising.“It's definitely been interesting going this road of essentially breaking ground, and breaking the studio system by putting more power into the audience themselves.