Internet Computer – Replacing all of traditional IT with a blockchain | Dominic Williams | ep.68

In this episode, we're joined by Dominic Williams, the Founder and Chief Scientist of DFINITY, a major contributor to the Internet Computer blockchain. The Internet Computer is a general-purpose blockchain that hosts canister smart contracts. It is designed to provide a World Computer that can replace traditional IT and host a new generation of Web3 services and applications that run solely from the blockchain, without the need for traditional IT. It can also play the role of Web3 orchestrator, by interacting with traditional blockchains. In this episode with Dominic, we talk about the big vision behind the Internet Computer, and what the journey has looked like from initial idea to launching mainnet. Dominic walks us through the main technical innovations that have needed to be introduced to enable the vision for a true world computer, and we speak about the compelling real-world use cases that the IC can facilitate, and how adoption has been progressing for some of them. Over the next hour, we cover the evolution of smart contracts, identity authentication, open internet services, and building tamperproof, autonomous, and sovereign infrastructure. Tune in for a great discussion about restoring the Internet to its open, innovative, and creative roots. Internet Computer’s dashboard on Token Terminal: https://tokenterminal.com/terminal/pr... DFINITY: https://dfinity.org/ Internet Computer: https://internetcomputer.org/ DFINITY on X (Twitter):   / dfinity   Dominic on X (Twitter):   / dominic_w   Make sure to leave a comment if you have any questions 🙌 📊 Token Terminal platform: ► https://www.tokenterminal.com/ ----------------------------------------- 💬 Join our Discord: ►   / discord   ----------------------------------------- 📱 Follow us on Twitter: ►   / tokenterminal   ----------------------------------------- 📩 Subscribe to our Newsletter: ► https://tokenterminal.com/resources ----------------------------------------- Timestamps: 00:00 Introduction 02:01 Replacing the legacy IT stack 04:38 Building web3 services 100% onchain, instead of on AWS 07:09 The inspiration for building a World Computer 13:12 The problems with legacy IT & rethinking our backend tech platform 14:22 Fulfilling the World Computer vision: Funding, R&D, and attracting talent 18:32 A blockchain that plays the role of cloud 3.0 will always be complex 19:28 Technical innovations: Proof of useful work consensus 22:08 Technical innovations: Chain-key cryptography 24:58 Technical innovations: Reverse gas model 25:19 Technical innovations: Canister smart contract framework 27:04 Technical innovations: How blockchain became a cloud 28:23 Technical innovations: Service Nervous System (SNS) DAO 30:14 Internet Identity 33:39 Building apps on the Internet Computer 34:33 OpenChat 39:35 Chain-key tokens: a cryptography- based replacement for wrapped tokens 41:00 True composability: linking together all blockchains without bridges … … Crypto redefines the way businesses are built and operated. Token Terminal gives you the tools to evaluate and track the most promising projects. The following content is meant purely for educational and informational purposes, and should not be relied upon as financial, investment, legal, tax, or any other professional advice. The authors of this content, or members, affiliates, or stakeholders of Token Terminal may be participating, or are invested, in protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Token Terminal at any time without notice. Token Terminal accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content. #InternetComputer #DFINITY #ICP #Crypto #Blockchain #TokenTerminal #Fundamentals