CS-ECON Seminar Series
How Bitcoin enables a Machine-Payable Web
|Speaker:||Balaji S. Srinivasan
||Friday, October 28, 2016
||12:00pm - 1:00pm
||D344 LSRC, Duke
First, we had the World Wide Web, a web of links between documents. Then
we had the Social Web, a social network of relationships between people.
We believe the third web will be the Machine-Payable Web, where each node
in the network is a machine and each edge is a micropayment between
Towards this end, we've developed open source software called 21 that
makes it simple to perform micropayments over HTTP. The software allows
you to get digital currency onto any machine headlessly, set up web
services that accept and transmit bitcoin over HTTP, and discover other
machines with similar services to autonomously trade with.
The overall effect is to turn digital currency into the ultimate scarce
system resource, on par with CPU, RAM, and hard drive space. Just as one
can create a database index that consumes disk space to save time, we show
that one can now write code that instead spends digital currency to
outsource a computation to save time.
To illustrate the breadth of the implications, we conclude with several
working examples: bitcoin-aware intelligent agents, APIs that implement
autonomous surge pricing, and the development of a native market
datastructure as a first class alternative to the well known queue. We ask
that audience members bring their laptops to code along with the speaker!
Balaji S. Srinivasan is the CEO of 21.co and a Board Partner at the
multibillion dollar venture capital firm Andreessen Horowitz. Prior to
taking the role of CEO at 21, Dr. Srinivasan was a General Partner at
Andreessen Horowitz. He was named to the MIT TR35, has raised more than
$200M in venture capital across multiple companies, was the cofounder and
CTO of Founders Fund-backed Counsyl, and taught a MOOC with 200k students
at startup.stanford.edu. He holds a BS, MS, and PhD in Electrical
Engineering and an MS in Chemical Engineering from Stanford University.