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What’s wrong with the politicians?  

The US is an economy that struggles to produce what people need, while China an economy that produces more than what its people can afford.  This is why, while high inflation rate in the US is not good news, low inflation in China is not either. It all depends on what causes them. Yet, the US resorts to money-creation (printing) to stimulate consumption, while China continues to invest in the supply-side even when such investments are… Read More »What’s wrong with the politicians?  

SEC helps true innovation by enforcing securities law

Is SEC harming crypto by enforcing the securities laws? Short answer: it may harm crypto but will advance blockchain. It deters criminal behavior and promotes true innovation. The SEC actions may have an impact on the cryptocurrency industry as it stands now, but in a longer term will clear up the air for better technologies and products to be developed and grow.  Case in point A US federal judge of a District Court in New… Read More »SEC helps true innovation by enforcing securities law

The Wright strategy is the Satoshi strategy -Why doesn’t he just sign it?

If Craig Wright is Satoshi, why doesn’t he just sign it? “Sign it” specifically refers to signing with a private key of a bitcoin address that is publicly known to belong to Satoshi, such as the mining reward address of block-9 involved in the famous ‘Satoshi-Finney transaction’ (also it’s almost certain that Satoshi mined the...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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Understanding the objective necessity of global changes may help peace

These Twitter posts by Prof. Michael Pettis reveal one of the most enlightening thoughts I’ve seen recently that are related to globalization, not only to global economies but also international relations.   I don’t think many politicians today understand this.  Few economists even understand this.  The reason why I think Prof. Pettis’ theory is important is probably not what he had intended, but is nonetheless a natural extension: Once people realize that the existing imbalance of… Read More »Understanding the objective necessity of global changes may help peace

The New Internet & Blockchain

The real Bitcoin and blockchain Blockchain was invented 14 years ago in the form of Bitcoin. As designed by its inventor Satoshi Nakamoto [1], it is a law-abiding dis-intermediating Peer-to-Peer cash payment system built on an IP-to-IP decentralized protocol compatible with IPv6, with unbounded scalability and extremely low transaction costs. Its native token, bitcoin, is...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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The necessary scalability of Layer-1 on blockchain

Blockchain has opened up many possible applications, including payments, tokenization, smart contracts, and in general, data access management. For beginners, a recent article The Crypto Story written by Matt Levine on Bloomberg is a good read. It explains quite well in non-technical language some of the problems blockchain could potentially solve, as well as the problems it currently has. Especially, the article makes a good common sense case for the need for a new kind of database to replace the existing ones, something that the current crypto world largely misses.

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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Science and Faith

Abstract. Biblical faith and science do not contradict each other. They are in fact the most reasonable convergence to cover a comprehensive understanding and interpretation of the universe and life by and for mankind, who is the sole witness of both the creation and the Creator. The convergence is meaningful in the ultimate sense. From the beginning of modern science and the origin of the controversy between science and faith to profound questions such as… Read More »Science and Faith

DAOs and the reality

The delusion of DAOs (Decentralized Autonomous Organizations) being out of the reach of law is just an extension of the old fancy of using an invisibility cloak to commit an illicit act. Here is the catch: as long as the scheme has a connection and an effect in the real world, law can, and should, reach it. Even a DAO in the so-called metaverse falls within the jurisdiction of the real-world law, as long as… Read More »DAOs and the reality

Marks of the end time – Is cashless society a mark of the end time?

The end time is a biblical concept referring to the time before the old world is folded away and a new world is introduced (the new heavens and earth, Revelation 21:1). According to the Bible, the end time is not peaceful but full of apocalyptic terrors and disasters. Therefore, any mention of the end time...

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

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Triple Entry Accounting & Blockchain

Triple entry accounting was introduced by Ian Grigg in 2005 (Triple Entry Accounting (iang.org). Bitcoin blockchain is a perfect system on which triple entry accounting can be implemented. This is not only because Bitcoin blockchain is an ideal 'independent third-party' to keep and verify the third entry (cryptographically signed cross-entity receipts as transaction records), but also because it provides a highly efficient built-in payment system.

Read more... The full content of this chapter is available in the two-volume book:

Bit & Coin

Merging Digitality and Physicality

Volume I: Digital Humanity’s Truth Layer - The New Internet, its Authenticity Layer, and Applications
Introduction
Order on Amazon

Volume II: Bitcoin, Blockchain, and Beyond - Essays of Science, Economics, Law, Ethics, and Controversies
Introduction
(coming soon)

Already a member? Log in here