Bitcoin, Blockchain & Artificial Intelligence | Federico Pistono interview with CoinTelegraph


My, name is Federico Pistono I have been in IT since almost 18 years ago, I started programming when i was 12 or 13 and computers always fascinated me me and systems in general and just learning new things I got into blockchain around 2012 – 2011 so I read the first Bitcoin, white paper by Satoshi I was very interested in the byzantine problem. I have a background in mathematics and computer science so that was double spending and operating research, data structures algorithms, those are things that really interested me on the mathematical level and to then think that those principles could be applied for social change it was kind of a love at first sight of blending these things together. So i got into blockchain around 2011 Then i was one of the first people to get into Ethereum and from there on I just grew more and more. Now I’m leading the blockchain team at Hyperloop Transportation technologies which is this, new, tech that’s essentially a supersonic speed travel on on a train so you have an evacuated tube, you suck up the air you put a capsule inside with about 30 people and then you’ve got magnetic levitation, passive magnetic levitation, it’s called Indutrack. And you can just move this thing at super high speed, supersonic, so more than 1,200 kilometres per hour So regarding AI and blockchain I would say one of the biggest issues probably is how we decide to structure the algorithm and the incentive mechanisms that we put into the system because in the end you get what your reward and AIs today and probably for the foreseeable future are not really intelligent in any sort they perform narrow tasks, and they are optimized for specific things that we tell them to do so we don’t really know how to give them the right constraints, and if we just say “Hey, make profit!” and you know “Do this!”, it may find all sorts of ways around to perform that task very well to optimize for that factor and on the flip side I think anytime you have any system that is in sort of equilibrium, like the system we have now with there is a huge centralization of power, centralization of capital, centralization of risk In particular the big players are de-risking everything by hedging the risk on the small guys and particularly developing countries I think everytime that you have a shift in technology or a dramatic shift you have the ability to change things by creating a new incentive structure by changing the rules of the game, and right now it is that moment where a seismic event that can change the incentive structure and the mechanisms underneath and blockchain is a way to do it distributely securely and I think, we can do great things but they don’t come by themselves, we have to actively pursue a specific goal and to agree on how to design these new systems I think, currently, we are not ready for this change, well first of all the technology isn’t ready, we don’t have figured out it still so many things about; blockchain system is still in the very early stage of the protocols and of the mechanisms we are building we don’t know how to scale, we don’t know how to do it securely, we don’t knowhow to do it fast enough and we really don’t have the the game theory behind it; we don’t know how all these things are going to be put together so, we don’t have the social infrastructure and the technological infrastructure But it’s a feedback loop, it’s a system of systems so by interacting with the system And by allowing ourselves to make mistakes and to do it faster and faster we create resilience in the network, where a single entity might die or go bust, the overall network captures some of that value and then you can increase the value, again and again and again and hopefully, we can find something that is not just resilient but it’s anti-fragile so that by stressing the system it actually becomes stronger, some like your body, when you go in the gym and you do exercise you actually stress your muscles and you break them apart and because you break them apart they become stronger afterwards so that’s an anti-fragile system and we should do that for the economic system and also for decision making and everything, so we know that we’re going to make mistakes, we should design a system that gets better as we make more mistakes because we learn from them instead of just repeating the same shit over and over and not learning from it which is mostly, what’s been happening recently I wrote a few books, the first was called “Robots will steal your job but that’s okay”, I wrote it six years ago kind of unsuspected time I was told there was a charlatan and didn’t have a phd in economics and I wasn’t a professor from MIT or Oxford, I should just stick to my computer science and not talk about these things and then you know, little did you know. Two, three years laters professors from MIT and Oxford write papers that say exactly the same things with exactly the same numbers but using different methodologies so kind of validating everything that I was saying so I went from charlatan to oracle it was kind of weird but you know same stuff produce just different reaction from people; then I wrote another book a fiction book, this time called “A tale of two futures” It’s a short novella Sci-fi, and it shows two different paths that we can take: one where things have taken the kind of decentralized, open-source model and a more sensible approach to how to use technology to better society and the other is this hyper capitalistic, narrowly focused, kind of mindless repetitive work that leads to a dystopian society. The third book, I wrote for Italians on how to build startups, because in Italy no one knows how to build startups. So very few people know. And the few people who do, they leave the country, and they go elsewhere and they never tell anyone back in town so they call startups everything like a pizzeria is just a… No, that’s not a startup! Startup is something else and so I wrote this new book, it’s coming out next next week it’s called Startup Zero.0 kind of give the idea that we’re not even at step one we are at step zero, we should get like the basics first, understand them; I’ve so I’ve been doing a lot of that and I also have a tv show in Italy on National tv and it’s called “Codice, la vita è digitale”, it means “Code life is digital”, we’ve had about two or three million people watching it every week; first episode was just about blockchain and and bitcoin. We went to to bit fury, we went to China, to Japan, we interviewed Roger Ver, we had a bunch of people in in there, I think it was very well done the episode on blockchain; we did one on IoT, smart-cities, the cognitive revolution, artificial intelligence, robotics, synthetic biology, genetic engineering, so we’re kind of bringing these emerging technologies to the wider audience. So, I also am an angel investor, I am investing in about 20 companies, so far, mostly in blockchain but also I’m moving to the medical sector and things that I think are going to help humanity in one way or another so I try to give my contribution in some way and now I’m spending most of my time doing Hyperloop I think one of the biggest opportunities we have is to use autonomous agents to automate all things that should be automated particularly in bureaucracy and in how systems interoperate so there is no reason, why I should go and ask a person to verify my identity or to stamp something and wait for months for a paper to come back or fax it somewhere! I mean, some places still need a fax machine A lot of this stuff is because you don’t trust the computer to verify that transaction or that information that’s being conveyed. Now the blockchain can solve that, not only can solve that but it can solve it systematically and securely and for anybody and also it’s censorship-resistant: not just a government censoring information, but also a company not releasing some of the data that maybe you should own. For example among all the social networks the only one that gives you the contacts is Linkedin; everyone else doesn’t allow you to export the contacts: they are your contacts! Why shouldn’t you be allowed to have your own contacts and information about them? It’s crazy, but this happens. So think about all the corruption that happens throughout the world: trillions of dollars worth of value and hundreds of millions of people in distress or who, they, can be forced into doing things because they can they have no legal recourse The blockchain could help all these people before you know helps the first world it can help the long tail of the supply chain, that’s now being held hostage by the owners of capital who have an unfair advantage in that game; they can be less efficient than them, but it’s still win, just because they have access to cheap capital, and that’s really unfair so all the risk is on these people, who have, no power no legal recourse and their lives are made miserable because this the game is tilted, the game is unfair and blockchain can allow for that to change, but we need to actively pursue that goal because it will not come automatically by itself, I think that’s a moral responsibility that we have and I think we have to step up and take that responsibility.

16 thoughts on “Bitcoin, Blockchain & Artificial Intelligence | Federico Pistono interview with CoinTelegraph”

  1. I used to think frederico was great when he supported an RBE system…I thought he really 'got it'….but now he is supporting this bitcoin crap…yet another useless monetary 'game'…..AND also the hopeless idea for EVT travel as well !!! You only have to listen to Thunderfoot to understand the science of why that is a useless idea. ..sigh

  2. 3 questions.
    1 Will Start-up 0.0 be translated into other languages.
    2 have you heard of the youtube skeptosphere and would you debate any of them on topics such as Bitcoin, block chains, basic income, current iterations of capitalism ect.
    3 Wouldn't you agree that what you are doing for local Italian TV should be done for the world wide consciousness and are you convinced you're up for the task of doing that or would you recommend someone else?

  3. Nice work, as always. I’ve been your fan since the TZM radio shows and it’s awesome to see you putting into practise the ideas you presented on that show. To the Future and Beyond!

  4. se il BITcoin non e' sequestrabile da nessun governo, sara' una pacchia per i criminali, che rubano in dollari o euro, trasformano subito in BITCOIN, ed a meno che non perdano la password o la memoria, staranno tranquilli anche in galera, tanto, quando escono recuperano tutto al sicuro nel mondo del virtuale !

  5. I don't know how much you know about God and the supernatural but there is a reason He told us not to make anything on earth or in heaven to worship (love)! People tend to idolize people and they took very well to Sophia the AI I'm sure you've heard of. My point is they can be inhabited by spirits! This is why they kill and say crazy things, anyway just saying. Take care and thanks!

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