Bitcoin & Blockchain

Satoshi’s blockchain creates a new reality called “phygital” (physical-digital, in which a digital item, say a set of bytes, is given certain physical properties). The phygital reality opens up a new realm, which can interact with the existing digital world and the physical world. Using a blockchain to control a computing process outside the blockchain is one example. Endless possibilities exist which can be created now and in the future. The new phygital reality supports… Read More »Innovating in the “phygital” (physical-digital) realm

Introduction This article is a critique of debt-based fiat money and the potential of tokenized credit-based community money. The contemporary monetary system is predominantly based on debt-issued fiat currencies, a structure that has attracted significant criticism due to its moral and economic implications. Money is fundamentally a credit instrument, a promise of the issuer to redeem it for something of value. In this sense, only providers of real goods and services have intrinsic qualifications to… Read More »Tokenized Credit-based Community Money

In information theories, the concept of “information” itself can be confusing and even self-contradictory. Of course, nature itself is not wrong. It’s the words that we use. Shannon entropy is fundamentally mathematical without considering any meaning, structure, or organization with regard to information. From that point of view, one can say chaos corresponds to more information because Shannon entropy really is a measure of uncertainty or randomness in a system. On the other hand, as… Read More »The quantity and quality of information

Some of the most important ideas promulgated by George Gilder, the thought leader in tech-economics and info-economics of our time, are as follows: (1) a winning technology is always one that wastes resources in abundance to save a real scarcity; and (2) the most fundamental scarcity in the human economy is time, and everything is constrained by time. According to that principle, a technology that wastes other things that are abundant to save time, always… Read More »High-entropy system versus low-entropy system

The myth of the ‘Selfless Satoshi’ was created by selfish people. We see a pervasive myth surrounding Satoshi that portrays him as ‘selfless’ and a mysterious eccentric icon who has abandoned all his personal rights to Bitcoin so others could use it freely any way they want, including changing the nature of Bitcoin to its core yet continuing to claim the original name and title. This ‘selfless Satoshi’ is a fabrication created by people with… Read More »The myth of the ‘Selfless Satoshi’