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Communalism vs. communism

Jared A. Brock wrote an interesting piece on ‘Capitalism vs. Communalism‘ based on his experience of a Bruderhof (brotherhood) community. I like the fact that he used the word ‘Communalism’ instead of ‘Communism’. The difference? God, faith, and love. Faith is the linchpin to put together a society like the Bruderhof (brotherhood) community, and the lack thereof is the reason why communism is always a disaster. Historically, this is not even accidental, because everyone who promoted… Read More »Communalism vs. communism

AI is not generative, but synthetic

Artificial Intelligence (AI) is both underestimated and overestimated at the same time. Underestimated for its potential usefulness (or potential damages, if used improperly), but overestimated for its real generative intelligence or creativity. With its efficiency, AI will force people to redefine their jobs. With its fake ‘creativity’, however, AI will force human beings to reflect upon true humanity seriously. If the man (male and female) regards himself as just a biological machine, then not only… Read More »AI is not generative, but synthetic

Blockchain is the New Global Data Network’s Authentication Layer

The Blockchain is a database that indexes transfers. The original method of transferring bitcoin was IP to IP. Nodes only reference the transfer. A user sends bitcoin directly to another user, and only then after the exchange has occurred would the transaction be referenced/indexed. Consequently, the argument that your tokens exist in cyberspace on 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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The federal policies on banks issuing dollar-denominated tokens

Board of Governors of the Federal Reserve System (Board) has made a policy statement on banks issuing dollar-denominated tokens: The Board generally believes that issuing tokens on open, public, and/or decentralized networks, or similar systems is highly likely to be inconsistent with safe and sound banking practices. The Board believes such tokens raise concerns related to operational, cybersecurity, and run risks, and may also present significant illicit finance risks, because—depending on their design—such tokens could… Read More »The federal policies on banks issuing dollar-denominated tokens

Asset tokenization needs a global public blockchain as a universal registration system

According to the Boston Consulting Group (BCG), the tokenization of global illiquid assets is estimated to be a $16 trillion business opportunity by 2030, with tokenized financial assets, such as patents, representing $3 trillion of that business opportunity by 2030. See IPwe post on LinkedIn. Great opportunities lie ahead with tokenization of assets, and IPwe leads...

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

The universe is a timechain – the quantum universal timeframe

In a paper recently published on SSRN, Dr. Craig S. Wright described a new theory (philosophy) of time which offers a separate quantum universal timeframe as well as an understanding of the universe as an information system. See the full paper by Dr. Craig S. Wright: The Philosophy of Time (39 Pages, 3 Oct 2022,...

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

What does BTC futures surging despite FTX collapse tell you?

Forbes report: Despite FTX Collapse Bitcoin Futures Surge.

This is worse news upon bad news because it only highlights the problem in crypto. 

In any economy, there are always producers and traders, and they can be healthily symbiotic. But a collapse becomes a certainty when traders are trading on values that are solely created by trading itself (i.e., speculative value arising from speculative trading activities alone), instead of value producers who are independent economic actors.

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

The corruption of crypto is unique

I already wrote about FTX and crypto exchanges in general (see, Crypto exchanges are an obstacle to blockchain and DLT). Mainly due to disgust, I try not to make more comments on FTX, but couldn't help because the story is being spun in directions that are away from the core truth.

This post on LinkedIn is an example: Sex, drugs, and leverage - Critics are wrong. Why the FTX story has nothing to do with crypto.

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

Payment must change – credit card is a systemic ripoff

Of the transformations enabled by Bitcoin, payment especially micropayment is of the most basic one. It is evident even from the Bitcoin’s whitepaper’s title: Bitcoin: a Peer-To-Peer Electronic Cash System. Payment is not a mere app added on the web, but a foundational part of the New Internet. However, more than 14 years after the creation...

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

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