Blockchain Technology and The Muppets

As buzzwords go they don’t come much buzzier than blockchain. It’s used in every other article about digital business or cyber-security.

But, my own straw poll tells me that most people don’t know what the blazes it’s all about.  My ad-hoc survey work also tells me that people like The Muppets but are surprisingly ill-informed about the character Fozzie Bear. So, I thought I’d combine the two.

Blockchain is complicated enough to need explaining more than once. So, even if you’ve read an article or seen a presentation on it, the central concepts can still be vague and nebulous. You know it’s something to do with Bitcoins. Something to do with managing currencies or payments online….that’s about where most of us check out.

Fozzie Bear from the Muppets never gives up. He keeps coming back no matter how bad the joke so using that tenuous link I’ve created facts about both blockchain and Fozzie Bear.

(Please note in the real world, Fozzie Bear had no involvement with the creation or development of blockchain technology. If you’re interested check out Satoshi Nakamoto – he’s certainly no muppet.)

Random Facts About Blockchain and Fozzie Bear

• A blockchain is a digital & decentralised or distributed database. Importantly, data is added in blocks and that each block is linked to the previous one. As well as data, each block contains a hash pointer (or secret code) which to verifies that nothing has been changed. Soooo, it’s a super thing for keeping track of digital currency transactions.
• Fozzie Bear was created by Frank Oz & is a key member of the Muppet team. He’s best known for his naff joke-telling skills. He is no use as a distributed database with no central authority. But, he’s a skilful light entertainer.
• It was back in 2008 that Japanese uber-geek Satoshi Nakamoto published his paper on blockchain technology & introduced the world to a newly proposed crypto-currency. It went on to be a vital technology behind the success of Bitcoin.
• According to Muppet legend, Fozzie Bear grew up right next door to his best friend Kermit. Fozzie always wanted to be a comedian. Also, for years I thought it was ‘Fuzzy Bear’.
• Each block is a permanent part of the blockchain & records transactions. The chain is designed so that transactions cannot be tampered with or removed. As a distributed database system, it’s an open digital ledger which needs no central authority & keeps an open record of transactions.
• In later Muppet Shows, Fozzie teamed up with some chickens to create routines of every increasingly hilarity. However, by the 1990s the laughs were drying up & he had to resort to wearing a wig to get a giggle. He made a cameo appearance in The Muppet Christmas Carol as Scrooge’s kind employer Fozziwig. Rumours of onsite arguments with Kermit & the Chickens abounded. Fozzie was seen as a washed up diva with a honey drinking problem.

• Blockchain works. Bitcoin is the best example but how to you change your virtual bitcoins into ‘real cash’. Simple. Look for a Bitcoin exchange that is offering a reasonable price. Check the currency you want. You’ll need an account but beyond that it’s like cashing in chips at a casino. They may be virtual but they have real value.
• Fozzie Bear has many catchphrases but his most famous is ‘Wocka wocka wocka’ – which he often employs after one of his disastrous gags.
• Blockchain technology is perfect for the digital space & cross-border activity due to the lack of human involvement,  it’s speed & efficiency. There is no single blockchain & there are various blockchain technologies which look at various aspect of the solution.
• There is not that much information on Fozzie Bear on the web. When selecting a Muppet to brighten up a serious blog, it would be far easier to go for Kermit. Also, select the right Muppet at the start or things such drying up when you get half-way through.
• Blockchain technology will be a buzzword for years to come. The potential is significant. Some banks & institutions are cautious. The anonymity & state-less nature of blockchains is perfect for the dark forces of this world to use to move their money around. Blockchains will become everyday in the next few years so just as well you got to the end of this article. Seriously, there is a stack of information out there online, just check your sources as always.

Right, that’s it. I’m sure mixing up Muppet facts help to confuse things further but if you picked up only a snippet about blockchain technology then my work here is done (poorly).