I'm a non-technical entrepreneur who discovered Ethereum a few hours ago and I'm still trying to wrap my head around it.
I've browsed through the forums and /r/ethereum and it seems like this community for the most part is made up of technically minded people who are having trouble explaining Ethereum to the outside world.
I'm still a long ways away from understanding the technical side, but I think I'm beginning to understand the real world implications of Ethereum.
In an effort to better understand what Ethereum means to the world and to entrepreneurs like me, perhaps we can work through an example of what an Ethereum based company would look like.
An Example of What An Ethereum Powered App Might Do
For this example we're going to fast forward to a future where personal space travel is affordable to the masses. 25,000 individuals have just landed on Mars with all of the equipment they need to set up a self sustaining housing unit, capable of producing breathable air, food, water, and sustain an atmosphere that doesn't require any special suit for humans to live in.
The company that sold these individuals their spaceships and all of this equipment has also established an entity known as EtherStead for the purposes of recording all property claims and arbitrating all civil disputes on Mars.
Every individual who makes it to Mars is entitled to homestead 200 acres of land. This is where Ethereum comes in.
To stake their claim, they load up the EtherStead App on their iPhone 8 and mark out the 200 Acres they wish to claim.
Their claim is registered and if there are no previous claims on any of their land then they are now the legal owner of that land. If someone else has claimed any part of that land, they will not be able to claim any of their land and will have to redraw their 200 acres.
Adding Complexity to the Explanation
In the above described future, if my Mom asks how homesteading on Mars works, I would tell her, "Draw out your claim on this App."
That is all that the end users would care to know. They're busy homesteading Mars, they've got other things to worry about than how the system that legally protects their claims works.
SpaceX on the other hand, when considering whether they want to acquire EtherStead as part of their Mars colonization project will want to know all of the behind the scenes details about how EtherStead is created.
You cold email SpaceX and tell them you have build an App that will make it super easy for them to manage the homesteading claims their clients are going to make. They express an interest and ask you to send back a 5 minute video with a brief explanation of how your system works.
1. How would you succinctly describe the technical process by which EtherStead works?
2. Why would Ethereum be the best way (that we currently have) of building such a system.
3. Is the above example based on a correct understanding of Ethereum?