Skip to content

Technology & Business

Financial services and supply-chain management

Let us think about the following two numbers: – The total size of the present global financial services industry is about $20 trillion. – The total size of the present global supply chain management industry is about $20 billion. The former is 1000 times that of the latter. This is a picture of the entire...

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 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

Inflation & Deflation

The most fundamental difference between inflation and deflation is that inflation is artificial while deflation can be natural. Mainstream economists would not agree with this characterization or understand it. This is only because they bring an inflationary mindset to judge the natural deflationary environment, failing to appreciate the most essential distinction between two different types of deflations that have different causes and impacts. The first type of deflation is caused by a lack of demand.… Read More »Inflation & Deflation

Crypto is an obstacle to blockchain and DLT

The crypto-inspired speculative assets trading on insecure exchanges is not what Bitcoin blockchain is meant to be and actually is (see, Bitcoin is not crypto).

The entire crypto world has become an irrational Ponzi-laden frenzy. The crypto industry went in the wrong direction long ago and went too far by turning the original Bitcoin, one of the greatest inventions ever, into a multitrillion-dollar gambling of speculations over other people’s speculations.

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

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)

Already a member? Log in here

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

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

The US needs leadership in Blockchain and the New Internet

Statements of purpose: In this document, we first point out the existing problems in the field of blockchain and cryptocurrencies, but it is not our belief that a crackdown by the US government can be the primary solution to the problem. Rather, our focus is to point out the right direction of the technological development of the field, and hope that the US government may start to formulate an effective strategy to guide the future… Read More »The US needs leadership in Blockchain and the New Internet

Value – creation, definition & transaction

From an abstract point of view, the three most fundamental elements of the human economic and financial system are: (1) creation of value (2) definition of value (3) transaction of value.   Creation of value ‘Creation of value‘ is the central purpose of a productive economy. It should not be controversial to say that value 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)

Already a member? Log in here