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

In this episode, were joined by Dominic Williams, the Founder and Chief Scientist as 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/projects/internetcomputer

DFINITY: https://dfinity.org/
Internet Computer: https://internetcomputer.org/
DFINITY on X (Twitter): https://twitter.com/DFINITY
Dominic on X (Twitter): https://twitter.com/dominic_w


Make sure to leave a comment if you have any questions 🙌


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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
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