The Peoples coin ideal,
1. why fiat circular money system cant separate qualify from quantity -
2. why implementing gold standard in the digital domain can restore quality
3. what is spacemesh and what novel about it
Hello and welcome back to this new article. Today’s topic is the 7 things that won’t happen in the crypto world. I know out there there is a lot of information and a lot of them are fake news. So I’m here today to help you to understand what almost certainly will not happen in the crypto world. Remember this is a personal idea based on the current situation. If you are ready you have a lot to read and will be very interesting!
The document discusses the key principles needed for a sustainable crypto economy and token ecosystem. It argues that self-regulation in the tokenized world means embracing decentralization while avoiding the imperfections of traditional systems. Privacy, payments, access to economic opportunities, and peace of mind are identified as important drivers ("The Four Ps"). Ultimately, the joy of blockchain lies in enabling privacy that supports independent decision making through a bottom-up process of user innovation and consensus among untrusted parties.
Professor David Lee discusses possible outcomes and factors that could accelerate the blockchain revolution in his presentation. He notes that the endgame of blockchain is difficult to predict but desired outcomes can be encouraged. Key factors that could accelerate its adoption include: 1) times of crisis when trust is lost, 2) addressing wealth inequality, 3) financial reforms by authorities, 4) business motivations to adopt blockchain, 5) geopolitical alignment among smaller countries, and 6) fears around hacking, surveillance, and centralized artificial intelligence control. The convergence of technologies like blockchain, AI and IoT could help solve problems of trust and cost but may also enable undesired outcomes if not developed responsibly.
This document summarizes a presentation by Professor David Lee on predicting the endgame of the blockchain revolution. Some key points:
- The endgame or desired outcome is difficult to predict but could include market domination through an ingenious business strategy or the secret objective of a supervillain.
- Blockchain is most valuable when establishing trust is expensive, such as in finance, trade, security, and communication. It is less valuable without associated tokens to incentivize desired outcomes.
- For blockchain to be truly valuable, it needs to be interoperable, interconnected, and borderless rather than exclusive.
- Crises that undermine trust, wealth inequality, financial reform, business motivations, geopol
Hello and welcome back to this new article. Today’s topic is the 7 things that won’t happen in the crypto world. I know out there there is a lot of information and a lot of them are fake news. So I’m here today to help you to understand what almost certainly will not happen in the crypto world. Remember this is a personal idea based on the current situation. If you are ready you have a lot to read and will be very interesting!
Cryptocurrencies like Bitcoin have significant economic, social, and political impacts. Economically, they increase global investment and financial access but also create high volatility. Socially, they enable pseudonymous transactions but also allow for potential criminal uses of anonymity. Politically, they can undermine government control of currency but also make regulation difficult. Overall, the document discusses both benefits and challenges of cryptocurrencies across many domains.
Originally presented on November 5, 2014 at the Inaugural CAIA-SKBI Cryptocurrency Conference 2014 hosted at Singapore Management University: http://skbi.smu.edu.sg/conference/111726?itemid=5806
Citations and references found in the notes of each slide.
Abstract:
With nearly six years of empirical data and use-cases behind the Nakamoto consensus method the community has observed that a cryptocurrency economy behaves differently than originally envisioned and intended. What has arisen from these half-a-decade of physical interactions is a nearly complete rollback of the primary attributes embodied within the first of these Nakamoto consensus protocols, Bitcoin – to the point where it may best to refer to it as Bitcoin-in-name-only (BINO). Consequently there are two other challenges within this existing BINO framework: (1) the diametrically opposed forces of speculative demand versus transactional demand; (2) decoupling coins from the ledger altogether. This presentation discusses several proposed solutions to the challenges currently being devised by a multitude of teams.
Hello and welcome back to this new article. Today’s topic is the 7 things that won’t happen in the crypto world. I know out there there is a lot of information and a lot of them are fake news. So I’m here today to help you to understand what almost certainly will not happen in the crypto world. Remember this is a personal idea based on the current situation. If you are ready you have a lot to read and will be very interesting!
The document discusses the key principles needed for a sustainable crypto economy and token ecosystem. It argues that self-regulation in the tokenized world means embracing decentralization while avoiding the imperfections of traditional systems. Privacy, payments, access to economic opportunities, and peace of mind are identified as important drivers ("The Four Ps"). Ultimately, the joy of blockchain lies in enabling privacy that supports independent decision making through a bottom-up process of user innovation and consensus among untrusted parties.
Professor David Lee discusses possible outcomes and factors that could accelerate the blockchain revolution in his presentation. He notes that the endgame of blockchain is difficult to predict but desired outcomes can be encouraged. Key factors that could accelerate its adoption include: 1) times of crisis when trust is lost, 2) addressing wealth inequality, 3) financial reforms by authorities, 4) business motivations to adopt blockchain, 5) geopolitical alignment among smaller countries, and 6) fears around hacking, surveillance, and centralized artificial intelligence control. The convergence of technologies like blockchain, AI and IoT could help solve problems of trust and cost but may also enable undesired outcomes if not developed responsibly.
This document summarizes a presentation by Professor David Lee on predicting the endgame of the blockchain revolution. Some key points:
- The endgame or desired outcome is difficult to predict but could include market domination through an ingenious business strategy or the secret objective of a supervillain.
- Blockchain is most valuable when establishing trust is expensive, such as in finance, trade, security, and communication. It is less valuable without associated tokens to incentivize desired outcomes.
- For blockchain to be truly valuable, it needs to be interoperable, interconnected, and borderless rather than exclusive.
- Crises that undermine trust, wealth inequality, financial reform, business motivations, geopol
Hello and welcome back to this new article. Today’s topic is the 7 things that won’t happen in the crypto world. I know out there there is a lot of information and a lot of them are fake news. So I’m here today to help you to understand what almost certainly will not happen in the crypto world. Remember this is a personal idea based on the current situation. If you are ready you have a lot to read and will be very interesting!
Cryptocurrencies like Bitcoin have significant economic, social, and political impacts. Economically, they increase global investment and financial access but also create high volatility. Socially, they enable pseudonymous transactions but also allow for potential criminal uses of anonymity. Politically, they can undermine government control of currency but also make regulation difficult. Overall, the document discusses both benefits and challenges of cryptocurrencies across many domains.
Originally presented on November 5, 2014 at the Inaugural CAIA-SKBI Cryptocurrency Conference 2014 hosted at Singapore Management University: http://skbi.smu.edu.sg/conference/111726?itemid=5806
Citations and references found in the notes of each slide.
Abstract:
With nearly six years of empirical data and use-cases behind the Nakamoto consensus method the community has observed that a cryptocurrency economy behaves differently than originally envisioned and intended. What has arisen from these half-a-decade of physical interactions is a nearly complete rollback of the primary attributes embodied within the first of these Nakamoto consensus protocols, Bitcoin – to the point where it may best to refer to it as Bitcoin-in-name-only (BINO). Consequently there are two other challenges within this existing BINO framework: (1) the diametrically opposed forces of speculative demand versus transactional demand; (2) decoupling coins from the ledger altogether. This presentation discusses several proposed solutions to the challenges currently being devised by a multitude of teams.
Blockchain and Cryptoeconomic Policy IEEE Tencon 2018 Tutorial Oct. 28th, 2018Heung-No Lee
Abstract - Bitcoin is a peer-to-peer electronic cash transfer system without a bank in the middle. The e-cash can be sent to anyone in the internet as if it was an in-person transfer of money. To meet such an end, Bitcoin introduces a novel idea, blockchain. Blockchain maintains a group of “cryptographically chained” digital documents, a ledger. Cryptographic chain is required to record in an unforgeable way transactions such as coin transfers from one to the other. The ledger is published and left open in the internet. The open chained ledger makes electronic transfer of money possible over the internet without the authority in the middle. Since 2009 Bitcoin was introduced, it has made tremendous strides. Market value has been created, capitalization surpassing more than 20 Billion USD in 2017. Thousands of follow-up systems have been created. World Economic Forum has forecasted that 10% of global GDP will be stored in blockchains by 2025. In this tutorial, we aim to review Bitcoin and Ethereum for their program architectures and operations. Ethereum is believed to have made the e-cash system to the next level by inclusion of “smart contracts” in its function. Smart contracts enable formation of contractual relations between two or more parties and the terms specified in the contract are executed automatically when prescribed conditions are met. In this tutorial, we also aim to shed light on technical sides of blockchain technology such as privacy, security and autonomy which are sensitive to regulations and policies. Many initial coin offerings has been made amassing a large amount of crowd funding. While it is a revolutionary invention, blockchain and cryptocurrency systems are at its infancy stage. In order to foster continued healthy development, it is imperative for us to see the core of the technology and be able to evaluate the short and long term impacts of this technology based on scientific facts. This shall help us avoid any unwanted act of fear and road blocks to development. Regulations should be kept at its minimal. There are obvious ones: price manipulation practices and fraudulent investment operations should be prevented and punished heavily when caught. But more importance should be developing a policy to fostering researches, startups and funding to help uncover new opportunities. Blockchain can be useful in many future applications such as transfer of lands and houses, bank accounts to people in underdeveloped nations, and low cost maintenance of valuable records such as patents and copyrights. If some of them are indeed realizable, blockchain is sure to make the society clearer and more expectable. Protection of rights for underprivileged people can be improved; disputes and conflicts in the society lessened; transaction costs reduced and healthy interaction among people encouraged. Who knows that it shall lead us a step closer to the society of genuine trust!
Blockchain and CryptoEconomic Policy -- IEEE Tencon Tutorial, Jeju, Oct. 28th...Heung-No Lee
Abstract -- Bitcoin is a peer-to-peer electronic cash transfer system without a bank in the middle. The e-cash can be sent to anyone in the internet as if it was an in-person transfer of money. To meet such an end, Bitcoin introduces a novel idea, blockchain. Blockchain maintains a group of “cryptographically chained” digital documents, a ledger. Cryptographic chain is required to record in an unforgeable way transactions such as coin transfers from one to the other. The ledger is published and left open in the internet. The open chained ledger makes electronic transfer of money possible over the internet without the authority in the middle. Since 2009 Bitcoin was introduced, it has made tremendous strides. Market value has been created, capitalization surpassing more than 20 Billion USD in 2017. Thousands of follow-up systems have been created. World Economic Forum has forecasted that 10% of global GDP will be stored in blockchains by 2025. In this tutorial, we aim to review Bitcoin and Ethereum for their program architectures and operations. Ethereum is believed to have made the e-cash system to the next level by inclusion of “smart contracts” in its function. Smart contracts enable formation of contractual relations between two or more parties and the terms specified in the contract are executed automatically when prescribed conditions are met. In this tutorial, we also aim to shed light on technical sides of blockchain technology such as privacy, security and autonomy which are sensitive to regulations and policies. Many initial coin offerings has been made amassing a large amount of crowd funding. While it is a revolutionary invention, blockchain and cryptocurrency systems are at its infancy stage. In order to foster continued healthy development, it is imperative for us to see the core of the technology and be able to evaluate the short and long term impacts of this technology based on scientific facts. This shall help us avoid any unwanted act of fear and road blocks to development. Regulations should be kept at its minimal. There are obvious ones: price manipulation practices and fraudulent investment operations should be prevented and punished heavily when caught. But more importance should be developing a policy to fostering researches, startups and funding to help uncover new opportunities. Blockchain can be useful in many future applications such as transfer of lands and houses, bank accounts to people in underdeveloped nations, and low cost maintenance of valuable records such as patents and copyrights. If some of them are indeed realizable, blockchain is sure to make the society clearer and more expectable. Protection of rights for underprivileged people can be improved; disputes and conflicts in the society lessened; transaction costs reduced and healthy interaction among people encouraged. Who knows that it shall lead us a step closer to the society of genuine trust!
How blockchain and crypto are disrupting the financial sectorBlockchain Council
The finance sphere is undergoing a radical shift. Organizations across the globe are left with no choice but to adapt and conform to the evolution of the financial systems. People all over the world are expecting significant changes in the way money is transacted and managed in the future.
Stanley Bae believes that the concept of PoR has won traction in recent months, with a few suggesting that it could update conventional audits altogether. By supplying actual-time visibility into reserves, PoR complements trust and decreases the hazard of fraud. However, it’s crucial to note that POR isn’t a one-length-suits-all solution and should carry different safety features.
The document discusses the opportunities and risks associated with cryptocurrencies, including their volatility and reliance on decentralized software. It also talks about central banks embracing digital currencies to maintain control over the financial system while regulating privately created cryptocurrencies. The document covers a wide range of topics related to cryptocurrencies, central bank digital currencies, and the future of money.
The document discusses legalizing digital currency in Pakistan through various business analysis tools. It begins with an introduction and problem statement, then outlines objectives to adopt digital currency legally using SWOT analysis, PESTLE analysis, Porter's Five Forces analysis, V-MOST analysis, and other frameworks. The body of the document applies these tools to analyze strengths, weaknesses, opportunities, threats related to bitcoin and other factors influencing the cryptocurrency industry. It considers political, economic, social, and technological factors that impact adoption. The overall aim is to explore how to legally integrate digital currency in Pakistan.
This document discusses decentralization and centralization of power and control in the context of money and cryptocurrencies. It explains that centralized control of money enables corruption due to human temptation to abuse power. Bitcoin was an important innovation as it technologically resolved issues of centralized control through decentralization. However, mining pools have led to some centralization of Bitcoin. Proof of stake coins like VeriCoin aim to further decentralization by basing rewards on coin ownership rather than computational power, reducing incentives for resource pooling. While the technology may be decentralized, centralized ownership can still enable centralized power, so accessibility of use is important to achieve true decentralization of money, power and control for the many.
I write a monthly newsletter for my clients. It seemed obvious to me at the time that a new era had dawned with the advent of crypto currencies. A way to maintain a store of value minus the meddling and interference of fallible human beings.
Decentralised monetary policy by Yulin LiuLuyaoZhangPhD
This document summarizes a lecture on decentralized monetary policy given by Prof. Dr. Yulin Liu. It begins with an overview of traditional monetary policy approaches, including conventional tools like interest rates and unconventional tools used during the financial crisis like quantitative easing. It notes challenges like rising inequality and the loss of central bank independence with unconventional policies. The second half introduces decentralized monetary policy concepts using blockchain and cryptocurrencies, including decentralized finance applications like stablecoins and lending protocols. It describes how protocols like Ampleforth implement an automatic, decentralized form of monetary policy through expanding or contracting the token supply to target a price level.
This briefing on the future of money is the first in a series of explorations on the future of global systems; including industries, sectors and economies.
A tide of technology — cryptocurrencies, P2P economies, payment APIs — is reshaping the world before our very eyes. We rarely memorize, wait in line, rewind, unfold, print or phone anymore. There has never been a better time to map the phenomenon of human innovation, and there is no better place to start with than with money.
The document provides an overview of emerging technologies that are transforming the future of money and banking. It discusses how digital currencies like Bitcoin have become decentralized due to new technologies. Peer-to-peer economies are expanding as people connect and trade various currencies like time, attention and resources over the internet. New platforms also allow trading of social currencies where reputation and influence are quantified. Online-only banks are utilizing APIs and automation to provide improved customer experiences. Overall, technologies are shifting power away from traditional financial institutions and enabling more decentralized and individual control over money and finances.
Talal Tabbaa - Smart Regulations and Crypto-systemic riskTimetogrowup
The document discusses systemic risk in cryptocurrencies and decentralized systems. It notes that over 60% of mining power is concentrated in the top 5 pools, and cryptocurrencies serve multiple interconnected roles as stores of value, means of exchange, and speculative investments. This level of concentration and interconnectivity could lead to the risk of financial contagion if one of the major players fails, similar to what occurred during financial crises like the Asian banking crisis and global financial crisis. The document proposes some remedies like stronger governance, oversight, and separating cryptocurrencies by function in order to reduce systemic risk in the crypto economy.
At CoinShares, we believe it's critical to define, analyze, and disseminate data to tell the story of why this industry matters and how it might impact industries, markets, and the broader world.
As investors, we take this one step further and use this data, our insights, and our expertise to identify who, where, and when this change might happen.
This report describes the macro environment, trends, and companies that are driving the space, and provides an outlook for the broader crypto ecosystem.
paywith.glass: A Secure, Scalable, Compliant, Privacy Preserving, Global Electronic Payments System for Cryptographically Secure Digital Assets | October 2023 | sha256:4f440bbe2e620df9b3b2d2bbef97028827d4faddf20fd617cd78cdb9f769fc99
Presentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISEEffendy Zulkifly
1) Blockchain technology can be used to increase transparency and accountability for social enterprises and charities by monitoring the flow of funds collected and expenses on the blockchain.
2) The document proposes a social enterprise model that utilizes a cryptocurrency called the ETC token to enable donations, compensate case workers, and purchase items for beneficiaries, with all transactions recorded on the blockchain for public tracking.
3) It argues this approach could help address issues like lack of transparency, high operating costs, and public distrust that charities currently face by cutting out middlemen and allowing direct monitoring of how donations are used.
Will Digital Currencies Break The Banking System? Harsh Chitroda
So, when we ask a question of how will digital currency affect banks? So, we can say that Digital currencies are likely to give central banks more insight into the movement of money in the economy. The widespread use of electronic payment systems may also aid authorities to crack down on money-laundering and terrorist-financing efforts. Or on the other hand, we can also say that the Banks are afraid because Cryptocurrency exchange is a non-banking transaction. and if the Cryptos gain favours it can disrupt the ability of banks to create money. If this disruption alarms the central banks, then they will do something about it.
We describe three approaches including fully collateralized custodial tokens, partially collateralized custodial tokens, and dynamically stabilized tokens, and demonstrate that only fully collateralized tokens can be stable, even under extreme circumstances. To conclude, we discuss in detail Digital Trade Coin, a stable coin backed by either fiat or real assets and argue that such a coin can be used as a much-needed counterpoint to the US dollar. We also briefly discuss merits and demerits of Libra proposed by Facebook.
This document summarizes an economic analysis of cryptocurrencies like Bitcoin. It finds that while Bitcoin has large welfare costs due to its design, an optimized cryptocurrency could have much lower costs, comparable to a cash system with low inflation. It models how cryptocurrencies use mining and confirmation lags to prevent double spending, and estimates an optimal design could lower costs to 0.08% of consumption. It also finds cryptocurrencies may be able to challenge retail payment systems if scaling issues are addressed.
Northern Engraving | Modern Metal Trim, Nameplates and Appliance PanelsNorthern Engraving
What began over 115 years ago as a supplier of precision gauges to the automotive industry has evolved into being an industry leader in the manufacture of product branding, automotive cockpit trim and decorative appliance trim. Value-added services include in-house Design, Engineering, Program Management, Test Lab and Tool Shops.
Blockchain and Cryptoeconomic Policy IEEE Tencon 2018 Tutorial Oct. 28th, 2018Heung-No Lee
Abstract - Bitcoin is a peer-to-peer electronic cash transfer system without a bank in the middle. The e-cash can be sent to anyone in the internet as if it was an in-person transfer of money. To meet such an end, Bitcoin introduces a novel idea, blockchain. Blockchain maintains a group of “cryptographically chained” digital documents, a ledger. Cryptographic chain is required to record in an unforgeable way transactions such as coin transfers from one to the other. The ledger is published and left open in the internet. The open chained ledger makes electronic transfer of money possible over the internet without the authority in the middle. Since 2009 Bitcoin was introduced, it has made tremendous strides. Market value has been created, capitalization surpassing more than 20 Billion USD in 2017. Thousands of follow-up systems have been created. World Economic Forum has forecasted that 10% of global GDP will be stored in blockchains by 2025. In this tutorial, we aim to review Bitcoin and Ethereum for their program architectures and operations. Ethereum is believed to have made the e-cash system to the next level by inclusion of “smart contracts” in its function. Smart contracts enable formation of contractual relations between two or more parties and the terms specified in the contract are executed automatically when prescribed conditions are met. In this tutorial, we also aim to shed light on technical sides of blockchain technology such as privacy, security and autonomy which are sensitive to regulations and policies. Many initial coin offerings has been made amassing a large amount of crowd funding. While it is a revolutionary invention, blockchain and cryptocurrency systems are at its infancy stage. In order to foster continued healthy development, it is imperative for us to see the core of the technology and be able to evaluate the short and long term impacts of this technology based on scientific facts. This shall help us avoid any unwanted act of fear and road blocks to development. Regulations should be kept at its minimal. There are obvious ones: price manipulation practices and fraudulent investment operations should be prevented and punished heavily when caught. But more importance should be developing a policy to fostering researches, startups and funding to help uncover new opportunities. Blockchain can be useful in many future applications such as transfer of lands and houses, bank accounts to people in underdeveloped nations, and low cost maintenance of valuable records such as patents and copyrights. If some of them are indeed realizable, blockchain is sure to make the society clearer and more expectable. Protection of rights for underprivileged people can be improved; disputes and conflicts in the society lessened; transaction costs reduced and healthy interaction among people encouraged. Who knows that it shall lead us a step closer to the society of genuine trust!
Blockchain and CryptoEconomic Policy -- IEEE Tencon Tutorial, Jeju, Oct. 28th...Heung-No Lee
Abstract -- Bitcoin is a peer-to-peer electronic cash transfer system without a bank in the middle. The e-cash can be sent to anyone in the internet as if it was an in-person transfer of money. To meet such an end, Bitcoin introduces a novel idea, blockchain. Blockchain maintains a group of “cryptographically chained” digital documents, a ledger. Cryptographic chain is required to record in an unforgeable way transactions such as coin transfers from one to the other. The ledger is published and left open in the internet. The open chained ledger makes electronic transfer of money possible over the internet without the authority in the middle. Since 2009 Bitcoin was introduced, it has made tremendous strides. Market value has been created, capitalization surpassing more than 20 Billion USD in 2017. Thousands of follow-up systems have been created. World Economic Forum has forecasted that 10% of global GDP will be stored in blockchains by 2025. In this tutorial, we aim to review Bitcoin and Ethereum for their program architectures and operations. Ethereum is believed to have made the e-cash system to the next level by inclusion of “smart contracts” in its function. Smart contracts enable formation of contractual relations between two or more parties and the terms specified in the contract are executed automatically when prescribed conditions are met. In this tutorial, we also aim to shed light on technical sides of blockchain technology such as privacy, security and autonomy which are sensitive to regulations and policies. Many initial coin offerings has been made amassing a large amount of crowd funding. While it is a revolutionary invention, blockchain and cryptocurrency systems are at its infancy stage. In order to foster continued healthy development, it is imperative for us to see the core of the technology and be able to evaluate the short and long term impacts of this technology based on scientific facts. This shall help us avoid any unwanted act of fear and road blocks to development. Regulations should be kept at its minimal. There are obvious ones: price manipulation practices and fraudulent investment operations should be prevented and punished heavily when caught. But more importance should be developing a policy to fostering researches, startups and funding to help uncover new opportunities. Blockchain can be useful in many future applications such as transfer of lands and houses, bank accounts to people in underdeveloped nations, and low cost maintenance of valuable records such as patents and copyrights. If some of them are indeed realizable, blockchain is sure to make the society clearer and more expectable. Protection of rights for underprivileged people can be improved; disputes and conflicts in the society lessened; transaction costs reduced and healthy interaction among people encouraged. Who knows that it shall lead us a step closer to the society of genuine trust!
How blockchain and crypto are disrupting the financial sectorBlockchain Council
The finance sphere is undergoing a radical shift. Organizations across the globe are left with no choice but to adapt and conform to the evolution of the financial systems. People all over the world are expecting significant changes in the way money is transacted and managed in the future.
Stanley Bae believes that the concept of PoR has won traction in recent months, with a few suggesting that it could update conventional audits altogether. By supplying actual-time visibility into reserves, PoR complements trust and decreases the hazard of fraud. However, it’s crucial to note that POR isn’t a one-length-suits-all solution and should carry different safety features.
The document discusses the opportunities and risks associated with cryptocurrencies, including their volatility and reliance on decentralized software. It also talks about central banks embracing digital currencies to maintain control over the financial system while regulating privately created cryptocurrencies. The document covers a wide range of topics related to cryptocurrencies, central bank digital currencies, and the future of money.
The document discusses legalizing digital currency in Pakistan through various business analysis tools. It begins with an introduction and problem statement, then outlines objectives to adopt digital currency legally using SWOT analysis, PESTLE analysis, Porter's Five Forces analysis, V-MOST analysis, and other frameworks. The body of the document applies these tools to analyze strengths, weaknesses, opportunities, threats related to bitcoin and other factors influencing the cryptocurrency industry. It considers political, economic, social, and technological factors that impact adoption. The overall aim is to explore how to legally integrate digital currency in Pakistan.
This document discusses decentralization and centralization of power and control in the context of money and cryptocurrencies. It explains that centralized control of money enables corruption due to human temptation to abuse power. Bitcoin was an important innovation as it technologically resolved issues of centralized control through decentralization. However, mining pools have led to some centralization of Bitcoin. Proof of stake coins like VeriCoin aim to further decentralization by basing rewards on coin ownership rather than computational power, reducing incentives for resource pooling. While the technology may be decentralized, centralized ownership can still enable centralized power, so accessibility of use is important to achieve true decentralization of money, power and control for the many.
I write a monthly newsletter for my clients. It seemed obvious to me at the time that a new era had dawned with the advent of crypto currencies. A way to maintain a store of value minus the meddling and interference of fallible human beings.
Decentralised monetary policy by Yulin LiuLuyaoZhangPhD
This document summarizes a lecture on decentralized monetary policy given by Prof. Dr. Yulin Liu. It begins with an overview of traditional monetary policy approaches, including conventional tools like interest rates and unconventional tools used during the financial crisis like quantitative easing. It notes challenges like rising inequality and the loss of central bank independence with unconventional policies. The second half introduces decentralized monetary policy concepts using blockchain and cryptocurrencies, including decentralized finance applications like stablecoins and lending protocols. It describes how protocols like Ampleforth implement an automatic, decentralized form of monetary policy through expanding or contracting the token supply to target a price level.
This briefing on the future of money is the first in a series of explorations on the future of global systems; including industries, sectors and economies.
A tide of technology — cryptocurrencies, P2P economies, payment APIs — is reshaping the world before our very eyes. We rarely memorize, wait in line, rewind, unfold, print or phone anymore. There has never been a better time to map the phenomenon of human innovation, and there is no better place to start with than with money.
The document provides an overview of emerging technologies that are transforming the future of money and banking. It discusses how digital currencies like Bitcoin have become decentralized due to new technologies. Peer-to-peer economies are expanding as people connect and trade various currencies like time, attention and resources over the internet. New platforms also allow trading of social currencies where reputation and influence are quantified. Online-only banks are utilizing APIs and automation to provide improved customer experiences. Overall, technologies are shifting power away from traditional financial institutions and enabling more decentralized and individual control over money and finances.
Talal Tabbaa - Smart Regulations and Crypto-systemic riskTimetogrowup
The document discusses systemic risk in cryptocurrencies and decentralized systems. It notes that over 60% of mining power is concentrated in the top 5 pools, and cryptocurrencies serve multiple interconnected roles as stores of value, means of exchange, and speculative investments. This level of concentration and interconnectivity could lead to the risk of financial contagion if one of the major players fails, similar to what occurred during financial crises like the Asian banking crisis and global financial crisis. The document proposes some remedies like stronger governance, oversight, and separating cryptocurrencies by function in order to reduce systemic risk in the crypto economy.
At CoinShares, we believe it's critical to define, analyze, and disseminate data to tell the story of why this industry matters and how it might impact industries, markets, and the broader world.
As investors, we take this one step further and use this data, our insights, and our expertise to identify who, where, and when this change might happen.
This report describes the macro environment, trends, and companies that are driving the space, and provides an outlook for the broader crypto ecosystem.
paywith.glass: A Secure, Scalable, Compliant, Privacy Preserving, Global Electronic Payments System for Cryptographically Secure Digital Assets | October 2023 | sha256:4f440bbe2e620df9b3b2d2bbef97028827d4faddf20fd617cd78cdb9f769fc99
Presentation for APICTA 2018 - EFINITY SOCIAL ENTERPRISEEffendy Zulkifly
1) Blockchain technology can be used to increase transparency and accountability for social enterprises and charities by monitoring the flow of funds collected and expenses on the blockchain.
2) The document proposes a social enterprise model that utilizes a cryptocurrency called the ETC token to enable donations, compensate case workers, and purchase items for beneficiaries, with all transactions recorded on the blockchain for public tracking.
3) It argues this approach could help address issues like lack of transparency, high operating costs, and public distrust that charities currently face by cutting out middlemen and allowing direct monitoring of how donations are used.
Will Digital Currencies Break The Banking System? Harsh Chitroda
So, when we ask a question of how will digital currency affect banks? So, we can say that Digital currencies are likely to give central banks more insight into the movement of money in the economy. The widespread use of electronic payment systems may also aid authorities to crack down on money-laundering and terrorist-financing efforts. Or on the other hand, we can also say that the Banks are afraid because Cryptocurrency exchange is a non-banking transaction. and if the Cryptos gain favours it can disrupt the ability of banks to create money. If this disruption alarms the central banks, then they will do something about it.
We describe three approaches including fully collateralized custodial tokens, partially collateralized custodial tokens, and dynamically stabilized tokens, and demonstrate that only fully collateralized tokens can be stable, even under extreme circumstances. To conclude, we discuss in detail Digital Trade Coin, a stable coin backed by either fiat or real assets and argue that such a coin can be used as a much-needed counterpoint to the US dollar. We also briefly discuss merits and demerits of Libra proposed by Facebook.
This document summarizes an economic analysis of cryptocurrencies like Bitcoin. It finds that while Bitcoin has large welfare costs due to its design, an optimized cryptocurrency could have much lower costs, comparable to a cash system with low inflation. It models how cryptocurrencies use mining and confirmation lags to prevent double spending, and estimates an optimal design could lower costs to 0.08% of consumption. It also finds cryptocurrencies may be able to challenge retail payment systems if scaling issues are addressed.
Similar to Spacemesh, Tomer Afek, ICC conf, May 2023.pptx (20)
Northern Engraving | Modern Metal Trim, Nameplates and Appliance PanelsNorthern Engraving
What began over 115 years ago as a supplier of precision gauges to the automotive industry has evolved into being an industry leader in the manufacture of product branding, automotive cockpit trim and decorative appliance trim. Value-added services include in-house Design, Engineering, Program Management, Test Lab and Tool Shops.
What is an RPA CoE? Session 1 – CoE VisionDianaGray10
In the first session, we will review the organization's vision and how this has an impact on the COE Structure.
Topics covered:
• The role of a steering committee
• How do the organization’s priorities determine CoE Structure?
Speaker:
Chris Bolin, Senior Intelligent Automation Architect Anika Systems
inQuba Webinar Mastering Customer Journey Management with Dr Graham HillLizaNolte
HERE IS YOUR WEBINAR CONTENT! 'Mastering Customer Journey Management with Dr. Graham Hill'. We hope you find the webinar recording both insightful and enjoyable.
In this webinar, we explored essential aspects of Customer Journey Management and personalization. Here’s a summary of the key insights and topics discussed:
Key Takeaways:
Understanding the Customer Journey: Dr. Hill emphasized the importance of mapping and understanding the complete customer journey to identify touchpoints and opportunities for improvement.
Personalization Strategies: We discussed how to leverage data and insights to create personalized experiences that resonate with customers.
Technology Integration: Insights were shared on how inQuba’s advanced technology can streamline customer interactions and drive operational efficiency.
"Choosing proper type of scaling", Olena SyrotaFwdays
Imagine an IoT processing system that is already quite mature and production-ready and for which client coverage is growing and scaling and performance aspects are life and death questions. The system has Redis, MongoDB, and stream processing based on ksqldb. In this talk, firstly, we will analyze scaling approaches and then select the proper ones for our system.
"$10 thousand per minute of downtime: architecture, queues, streaming and fin...Fwdays
Direct losses from downtime in 1 minute = $5-$10 thousand dollars. Reputation is priceless.
As part of the talk, we will consider the architectural strategies necessary for the development of highly loaded fintech solutions. We will focus on using queues and streaming to efficiently work and manage large amounts of data in real-time and to minimize latency.
We will focus special attention on the architectural patterns used in the design of the fintech system, microservices and event-driven architecture, which ensure scalability, fault tolerance, and consistency of the entire system.
Essentials of Automations: Exploring Attributes & Automation ParametersSafe Software
Building automations in FME Flow can save time, money, and help businesses scale by eliminating data silos and providing data to stakeholders in real-time. One essential component to orchestrating complex automations is the use of attributes & automation parameters (both formerly known as “keys”). In fact, it’s unlikely you’ll ever build an Automation without using these components, but what exactly are they?
Attributes & automation parameters enable the automation author to pass data values from one automation component to the next. During this webinar, our FME Flow Specialists will cover leveraging the three types of these output attributes & parameters in FME Flow: Event, Custom, and Automation. As a bonus, they’ll also be making use of the Split-Merge Block functionality.
You’ll leave this webinar with a better understanding of how to maximize the potential of automations by making use of attributes & automation parameters, with the ultimate goal of setting your enterprise integration workflows up on autopilot.
The Department of Veteran Affairs (VA) invited Taylor Paschal, Knowledge & Information Management Consultant at Enterprise Knowledge, to speak at a Knowledge Management Lunch and Learn hosted on June 12, 2024. All Office of Administration staff were invited to attend and received professional development credit for participating in the voluntary event.
The objectives of the Lunch and Learn presentation were to:
- Review what KM ‘is’ and ‘isn’t’
- Understand the value of KM and the benefits of engaging
- Define and reflect on your “what’s in it for me?”
- Share actionable ways you can participate in Knowledge - - Capture & Transfer
The Microsoft 365 Migration Tutorial For Beginner.pptxoperationspcvita
This presentation will help you understand the power of Microsoft 365. However, we have mentioned every productivity app included in Office 365. Additionally, we have suggested the migration situation related to Office 365 and how we can help you.
You can also read: https://www.systoolsgroup.com/updates/office-365-tenant-to-tenant-migration-step-by-step-complete-guide/
Monitoring and Managing Anomaly Detection on OpenShift.pdfTosin Akinosho
Monitoring and Managing Anomaly Detection on OpenShift
Overview
Dive into the world of anomaly detection on edge devices with our comprehensive hands-on tutorial. This SlideShare presentation will guide you through the entire process, from data collection and model training to edge deployment and real-time monitoring. Perfect for those looking to implement robust anomaly detection systems on resource-constrained IoT/edge devices.
Key Topics Covered
1. Introduction to Anomaly Detection
- Understand the fundamentals of anomaly detection and its importance in identifying unusual behavior or failures in systems.
2. Understanding Edge (IoT)
- Learn about edge computing and IoT, and how they enable real-time data processing and decision-making at the source.
3. What is ArgoCD?
- Discover ArgoCD, a declarative, GitOps continuous delivery tool for Kubernetes, and its role in deploying applications on edge devices.
4. Deployment Using ArgoCD for Edge Devices
- Step-by-step guide on deploying anomaly detection models on edge devices using ArgoCD.
5. Introduction to Apache Kafka and S3
- Explore Apache Kafka for real-time data streaming and Amazon S3 for scalable storage solutions.
6. Viewing Kafka Messages in the Data Lake
- Learn how to view and analyze Kafka messages stored in a data lake for better insights.
7. What is Prometheus?
- Get to know Prometheus, an open-source monitoring and alerting toolkit, and its application in monitoring edge devices.
8. Monitoring Application Metrics with Prometheus
- Detailed instructions on setting up Prometheus to monitor the performance and health of your anomaly detection system.
9. What is Camel K?
- Introduction to Camel K, a lightweight integration framework built on Apache Camel, designed for Kubernetes.
10. Configuring Camel K Integrations for Data Pipelines
- Learn how to configure Camel K for seamless data pipeline integrations in your anomaly detection workflow.
11. What is a Jupyter Notebook?
- Overview of Jupyter Notebooks, an open-source web application for creating and sharing documents with live code, equations, visualizations, and narrative text.
12. Jupyter Notebooks with Code Examples
- Hands-on examples and code snippets in Jupyter Notebooks to help you implement and test anomaly detection models.
How information systems are built or acquired puts information, which is what they should be about, in a secondary place. Our language adapted accordingly, and we no longer talk about information systems but applications. Applications evolved in a way to break data into diverse fragments, tightly coupled with applications and expensive to integrate. The result is technical debt, which is re-paid by taking even bigger "loans", resulting in an ever-increasing technical debt. Software engineering and procurement practices work in sync with market forces to maintain this trend. This talk demonstrates how natural this situation is. The question is: can something be done to reverse the trend?
LF Energy Webinar: Carbon Data Specifications: Mechanisms to Improve Data Acc...DanBrown980551
This LF Energy webinar took place June 20, 2024. It featured:
-Alex Thornton, LF Energy
-Hallie Cramer, Google
-Daniel Roesler, UtilityAPI
-Henry Richardson, WattTime
In response to the urgency and scale required to effectively address climate change, open source solutions offer significant potential for driving innovation and progress. Currently, there is a growing demand for standardization and interoperability in energy data and modeling. Open source standards and specifications within the energy sector can also alleviate challenges associated with data fragmentation, transparency, and accessibility. At the same time, it is crucial to consider privacy and security concerns throughout the development of open source platforms.
This webinar will delve into the motivations behind establishing LF Energy’s Carbon Data Specification Consortium. It will provide an overview of the draft specifications and the ongoing progress made by the respective working groups.
Three primary specifications will be discussed:
-Discovery and client registration, emphasizing transparent processes and secure and private access
-Customer data, centering around customer tariffs, bills, energy usage, and full consumption disclosure
-Power systems data, focusing on grid data, inclusive of transmission and distribution networks, generation, intergrid power flows, and market settlement data
zkStudyClub - LatticeFold: A Lattice-based Folding Scheme and its Application...Alex Pruden
Folding is a recent technique for building efficient recursive SNARKs. Several elegant folding protocols have been proposed, such as Nova, Supernova, Hypernova, Protostar, and others. However, all of them rely on an additively homomorphic commitment scheme based on discrete log, and are therefore not post-quantum secure. In this work we present LatticeFold, the first lattice-based folding protocol based on the Module SIS problem. This folding protocol naturally leads to an efficient recursive lattice-based SNARK and an efficient PCD scheme. LatticeFold supports folding low-degree relations, such as R1CS, as well as high-degree relations, such as CCS. The key challenge is to construct a secure folding protocol that works with the Ajtai commitment scheme. The difficulty, is ensuring that extracted witnesses are low norm through many rounds of folding. We present a novel technique using the sumcheck protocol to ensure that extracted witnesses are always low norm no matter how many rounds of folding are used. Our evaluation of the final proof system suggests that it is as performant as Hypernova, while providing post-quantum security.
Paper Link: https://eprint.iacr.org/2024/257
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor IvaniukFwdays
At this talk we will discuss DDoS protection tools and best practices, discuss network architectures and what AWS has to offer. Also, we will look into one of the largest DDoS attacks on Ukrainian infrastructure that happened in February 2022. We'll see, what techniques helped to keep the web resources available for Ukrainians and how AWS improved DDoS protection for all customers based on Ukraine experience
2. THE WESTERN DISEASE
● Short-term thinking can lead to future
societal problems.
● Individualism leads to more prisoner's
dilemmas, excusing divisive behavior.
● Our era is marked by deceit, with trust
perceived as weakness.
● Media uses language as a control tool, and
campaigners fabricate realities on TV.
Context
2
3. Context
3
● The Economic Story:
To boost growth, the U.S. fueled overconsumption and
subprime loans, leading to the 2008 crisis. Excessive
capital profits widened the wealth-income gap.
● The Logic Formalization Story: The 20th century aimed
to ground Natural Language in axiomatic science,
endorsing the "Perfect Language" that validates
science as our moral and ethical guide.
CHRONICLE OF A FAILURE FORETOLD
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
A picture held us captive. And we could not get outside
it, for it lay in our language and language seemed to
repeat it to us inexorably
- Ludwig Wittgenstein
4. COLLECTIVE ILLUSIONS
Beliefs shape perception, guiding us to see a
reality that confirms them.
Collective illusions arise when people adopt
views they don't genuinely agree with, assuming
widespread support. Egos and groups maintain
false self-images, unaware of realities outside
their privileged lives and constructed
illusions.
Context
4
5. HOW DOES MONEY GET ITS VALUE?
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
Fiat Money have value from social convention: “money has value because it is accepted, and why
is it accepted? because it is accepted!” Obviously this is not a good explanation - We are
seemingly caught here in a circular trap, for the purchasing power of money is explained by
the demand for money while the demand for money is explained by its purchasing power.
Money VS other Goods - Demand for good derived from its perceived benefit, Money is not useful
in itself, but because it has an exchange value, it is exchangeable in terms of other goods
and services. Money is demanded because the benefit it offers is its purchasing power, i.e.,
its price.
The issue with money
5
Fiat money of the sort we use today could not and would not come
about in a market setting. What the market created—gold-based
money—the government had to destroy before leaving us with paper
money whose value as a currency depends on the management
practices of the central bank.
6. FIX THE MONEY, FIX THE WORLD
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
Money coordinates human action but also divides
us, driving fierce competition and environmental
damage. We must account for externalities and
find consensus on their nature. To address these
challenges, we need to slay Moloch, separate
quality from quantity, and repair the flaws in
the monetary system. This shift requires complex
wisdom and holistic approaches for sustainability
and balancing human needs with environmental
preservation.
Context
6
NOT Platonic Scale NOR Relativistic Scale
Then What Scale???
7. CRYPTOCURRENCY IS THE SOLUTION
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
In Satoshi’s vision of magic internet money anyone can join via mining from home,
there lies a proposition for a new global social order; by purging us from fake
fiat money, we can begin to untangle some of the damage modern positivism has done.
We believe in this vision: in handing power to the people, to art, and ultimately
to collective consciousness.
Cryptocurrencies offer an elegant and enhanced solution by providing a digital
resource with indisputable value that cannot be manipulated or misrepresented. Re
introducing material-logic in the digital domain, separating “digital commodity”
from “digital money” represents gigantic hope for a fair-money system not
controlled by the government, where all of us able to see clearly in real time, how
people are doing and what they care about.
THE OLD “GOLD STANDARD” ON NEW DIGITAL FRONTIERS
Why Crypto even
7
8. PART II - THE PEOPLE'S COIN
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
8
Foundational to our ability to fix incentive landscape
- is the idea of PEOPLE’S COIN - the 8 billion that we
are using cryptographic technology to actively
inference beliefs and minimize free energy
1. Non Rivalrous
2. Minimizing Free Energy - State Transitions
3. Commons (permission to manipulate payoff function
on all our belah)
9. THE STATE OF THE PROMISE
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
Where is Crypto?
Permissionless Decentralization stands at the heart of a promise to reintroduce a
global, free, open and neutral playing field, where bottom-up solutions can emerge
without the possibility of being censored.
More than a decade after inception, Bitcoin has scaled up, but this has come at the
cost of high energy consumption. Its promise of decentralized home mining is now a
practical impossibility.
Proof of Stake (PoS)-based chains, such as ETH, offer scalability as far as energy
consumption, but at some cost to decentralization. They are also, by definition,
permissioned. This too puts the promise in jeopardy.
Permissionless-ness is the next major challenge the industry has yet to achieve: an
industry-wide pain that only Spacemesh can solve.
10. ˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
The importance of the underlying asset: Goldilocks & the Three Bears
PoW PoS PoST
Too Hot Too Cold Just Right
Too much at stake:
Wasteful and costly
CPU usage
Circular, Not enough
at stake:
No underlying
physical asset
Just the right stake:
Storage space is a
physical asset with a
real cost, but is
mostly a sunk cost
with finite supply:
~4,000 Exabytes
installed base, 50%
utilization
● Decentralized,
trustless consensus
mechanisms are based
on validators
contributing an
asset, to ensure they
have ‘skin in the
game’ and are
incentivized to act
honestly
● Underlying asset
being contributed has
huge implications
11. PoW vs PoStake vs PoST
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
11
Comparative
Ever-increasing cost of mining +
decentralization = secure
transactions
PoW
Committed
Asset
PoS PoST
Coin balance Storage space & time
● CPU race is costly & wasteful
● Concentration driven by
mining farms & pools
● Compromised security due to
incentive incompatibility
● Built-in centralization, especially
when token distribution is overly
concentrated
● Security concerns due to problematic
assumptions & lack of reliance on a
finite, physical asset
● Incentivizes hoarding
Yet to be proven in market
Complex Protocol
CPU / GPU power
No cost to validate + decentralization
= scalable & efficient transactions
No cost to validate + actual
decentralization + no incentive to hoard =
scalable, efficient & secure transactions
Approach
Issues
This shows the different technologies applied to crypto currency and how Proof of Space-Time is
superior to existing technologies
12. THE PEOPLE’S COIN
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
12
Our principles
To be truly regarded as the people's coin, distribution is essential. Our main focus is
on improving how resources are shared, creating a large and sustainable group of
individuals mining from home.
1. Fairness First: Fairness is at the heart of money, so Spacemesh prioritizes fairness
by ensuring equal treatment for even the smallest miners.
2. Lowest Barrier of Entry: Spacemesh aims to enable anyone, regardless of their
location, without the need for specialized equipment or prior knowledge, to join the
network, mine from home, and receive a monthly allowance of Smesh coin.
3. Collaboration Focused: In response to the prevailing extreme individualism, Spacemesh
promotes collaboration via incentive compatibility. For home miners, working together
becomes the most practical way to achieve economic independence, transforming a modest
monthly allowance into sustainable earnings.
Read more on the qualitative aspect of money systems (7 Min read).
13. THE SUPERIOR SOLUTION
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
13
Resolution
RACE-FREE
● Race-based protocols encourage malicious
behavior, especially at steady-state when all
protocol subsidies have been exhausted.
● Mesh structure prevents winner-takes-all
outcome, because many participate in block
production.
● Consequently, no leader needs to be elected
which is qualitatively superior to existing
solutions.
● Honest blocks are guaranteed to remain valid as
Tortoise protocol ensures irreversibility.
● Protocol remains race-free even after block
subsidy ends.
INCENTIVE COMPATIBLE
Existing protocols are not incentive-compatible,
which means that:
● A rational actor has an incentive to act
dishonestly in some cases.
● Acting honestly does not always maximize
payouts due to the costs involved.
Spacemesh reassures honest actors that:
● Payout will not be affected by dishonest
actors.
● Acting honestly will maximize their payout.
Spacemesh resolves some of the key challenges associated with legacy protocols.
14. THE BLINDSPOT PARADOX
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
We can’t see our own blinspots, we need an
external index. In the case of economy, this index
was gold, and now it’s nothing.
Having no external guide, make it virtually
impossible to separate facts from beliefs.
Context
14
15. CHESTERTON’S FENCE
Understanding past decisions is vital for
making good choices. Differentiating situations
where there is no clear right or wrong from
cases with fundamental truth can be
challenging. Robust evidence of fitness impacts
can help distinguish between them.
Context
15
17. Additional Ideas worth exploring
˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
17
Resolution
Money to value like ruler to object of measurement
Global order (natural numbers) vs partial order (family tree)
Open System (The Universe) vs Closed System (Mathematics, Fiat Money)
Social Evolution via State Transitions
Minimization of free energy, the healthy part of speculation