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Who needs blockchain/web3?

A recent post by Dan Thomas on LinkedIn brought up the issue of the usefulness of blockchain, web3, NFTs, etc., and touched on the question of decentralization and blockchain trilemma.

Any sign of sobriety during this intoxicating crypto frenzy is a good thing.

I partially agree with the original post, especially the point that many of the incumbent businesses shouldn't be excited about DLT and Web3 because, as the author points out, a lot of things they want to do can be done more efficiently and more economically using conventional database technologies.

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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Scalable vertical platform for global merchandising

At Toolots, we are building the world’s first scalable vertical platform for global merchandising. What’s so unique about it? First off, there has not been a scalable vertical platform for global merchandising in the world so far. When people talk about platforms today, they usually refer to horizontal platforms which are wide and shallow without depth of expertise and integration. Scalable horizontal platforms are common, including well-known companies such as Amazon and Alibaba. One essential… Read More »Scalable vertical platform for global merchandising

One blockchain as the base layer of IoV

The next generation Internet will be both the Internet of data (IoD) and the Internet of value (IoV). The IoV will be an intrinsic part of the Internet, integrated at the base Internet layer (TCP/IP) for packets and transmission, rather than a mere application layer concocted upon the IoD. To do this will require integration...

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

Extreme stress tests of Bitcoin scalability

In this article, like other articles on the site, ‘Bitcoin/bitcoin’ refers to Bitcoin Satoshi Vision (BSV) not BTC, unless the context indicates a broader reference to include all forks and versions of the historical Bitcoin/bitcoin. Also, we advocate and follow the convention to use the uppercase ‘Bitcoin’ to refer to the Bitcoin blockchain system, and...

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

Truth in culture

“The irony is that only western culture allows dissent against culture and the acceptance of other ideas… yet western culture has the most dissenters.” Dr. Craig S. Wright, Linkedin post From a cybernetics view, a culture is a complex system that relies on both a base Unity and an active Requisite Variety to absorb (to deal with) the environment. The Western culture’s base unity is Truth, while the Eastern culture’s base unity is Order. For… Read More »Truth in culture

What backs the dollar and cryptocurrencies?

This analysis posted on LinkedIn is representative of a prevailing misunderstanding about the monetary system.  It is a misunderstanding that the US dollar (or any fiat money) is backed by the central bank, and a further misunderstanding that cryptocurrencies are backed by anything of more substance than what backs the dollar. First, there is an important distinction between money and currency to be made (see Money & Currency). Money is backed by value, while currency is… Read More »What backs the dollar and cryptocurrencies?

The Genesis block & a ‘set-in-stone’ protocol

A great post and an instructive dialogue on LinkedIn. A thoughtful question by Michael Fletcher led to Dr. Craig S Wright answering with genuine Satoshi authority.

Genesis does not just mean the beginning. The purpose of calling this the Genesis block relates to the fact that there was nothing but chaos in the beginning. The creation of the Genesis block takes data without form and void as darkness upon the face of the deep. With this, light enters, and the system forms. That is why it is a Genesis block.

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

Lawlessness and valuelessness

This is the next Maddoff…. A new Ponzi is just a Ponzi and this guy is deceiving investors in a criminal scheme. Dr. Craig S. Wright, commenting on FTX, a rapidly rising crypto exchange. Based on what can be seen so far, it is a prima facie case of Ponzi.  But as an outsider, I can only try not to judge or even to watch.  Whether this will be busted, and when, it’s hard to say.  Bernie Madoff ran… Read More »Lawlessness and valuelessness

Ecclesiastes

Ecclesiastes is a very peculiar book in the Bible. Some more sensitive Christians may even feel a little awkward reading Ecclesiastes due to its apparent pessimism and negativity. The reason for this feeling is often because we do not realize that God’s revelation has a historical order, a hierarchy, and a structure. If we mistakenly think of the whole Bible as a series of flat, side-by-side books, thinking that these volumes present independent, parallel lessons… Read More »Ecclesiastes

Resurrection

Jesus was crucified, died, and was buried. After the Lord’s death, his body would remain for only three days, after which he would rise again, but God the Father still carefully arranged the burial of His Son so that he would be buried in a new tomb purchased in advance by a rich man. Jesus would take a new spiritual body after his resurrection and ascend to heaven after witnessing on earth for nearly 40… Read More »Resurrection