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Tokens and Securities: Issuance and Distribution

In a public statement in the Matter of Wireline, Inc., SEC Commissioner Hester M. Peirce makes an excellent point in her Concurrence by cautioning that Commission and courts have made the mistake of “treating the pre-sale and public distribution of tokens as one event.”  In fact, it is better to focus on the distinction between issuance and distribution instead of pre-sale and public distribution. Pre-sale is private distribution. Distribution therefore conceptually includes both “pre-sale” (private… Read More »Tokens and Securities: Issuance and Distribution

Decentralized AI on Blockchain

Artificial Intelligence (AI) needs to be decentralized and personalized, and to do that, you need blockchain. What’s wrong with AI without blockchain? Let’s look at a well-known example of AI. Google’s centralized AI is powerful but also dumb at the same time. Powerful because it has pushed machine learning based on generic mass data to...

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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Is Bitcoin (BTC) a Ponzi Scheme?

At the present time, Bitcoin Core (BTC) is very much like a Ponzi scheme, because the exodus of existing investors is only prevented by a hope that the price will go up, which in turn is sustained by the new money of new investors (who happen to be misinformed and allured in by a wrong...

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

Michael Saylor’s Thermodynamic Bitcoin

Michael Saylor, the CEO of MicroStrategy, has made interesting points in promoting Bitcoin. But he is misled by both his own ideas (which are very good in abstract, but lacking in specific substance — see below) and also a deceptive public narrative created by stakeholders behind Bitcoin Core (BTC). BTC is not the real Bitcoin invented by...

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

Wake up, Americans

Americans are not aware of the real threat this country is now facing. The current events, influenced by a powerful illusion created by a zoomed-in distortion effect (intentionally or unintentionally), are a dangerous diversion from answering the real threat. America is now facing a very harsh reality. People’s sin has caught up with them. Both the moral deficit and financial deficit, neither can be magically made to disappear. Sooner or later we will pay. And… Read More »Wake up, Americans

“Meritocracy”​ and “Equality”​

Headline: Nation’s No. 1 High School Poised To Pick Students Based On Race, Not Achievement While debating over “meritocracy” and “equality”, we are ignorant of another related and much more fundamental risk:   Corruption. Once you do away with meritocracy, the floods of corruption come in (or come out from within, to be more exact), because this type of corruption is inherent with the corrupt nature of the fallen race of Adam. People’s acts start to… Read More »“Meritocracy”​ and “Equality”​

Why AI Will Never Replace True Humanity

This article is not about the usefulness of artificial intelligence (AI), but an attempt to address a more profound question that has to do with the very nature and meaning of human life in the view of AI.  Saying that AI will never replace true humanity is not to say that AI system isn’t useful. In fact, AI is not only useful, but will become far more useful in the future than most people can imagine today. These are fundamentally different… Read More »Why AI Will Never Replace True Humanity

Autocracy 1, Democracy 0

Autocracy is characteristically good at avoiding truth for short terms, until one day the accumulated and aggregated great truth arrives to lead to its demise.  But democracy highly depends on people’s ability to understand the truth at any given time. Since this pandemic, the Americans by and large have not demonstrated such ability. But China as a country did demonstrate its ability to control. Hence the scoreboard: Autocracy 1, Democracy 0. I do not believe the… Read More »Autocracy 1, Democracy 0

The Company-as-a-Product (CaaP) methodology for tech startups

The origin of Company-as-a-Product (CaaP) Company-as-a-Product (CaaP) is a term coined by business strategist ZeMing M. Gao. It is a methodology that approaches new companies from a “CaaP engineering” point of view. From ideation, design, creation, buildout, scaling, and transaction (e.g., exit, sale, or IPO), CaaP methodology integrates multiple dimensions of technology, intellectual property (IP), corporate structure, team-building and business into a coherent product with a clear economic goal. The CaaP concept initially grew from… Read More »The Company-as-a-Product (CaaP) methodology for tech startups