Luke Kenneth Casson Leighton: Blockchain Has To Be Done Right

Blockchain, Crypto

blockchain has to be done right. two things:

* monero is the only cryptocurrency that protects identity. you *can* prove provenance on request, if *you* want to.

* blockchain codifies “laws” in an in-perpetuity, irrevocable, mathematically inviolate way, that requires no judge, no jury, no government and no god. consequently if you get those “laws” WRONG it is far, far more dangerous and could do more damage than any government ever could.

the problem with privacy-respecting data protection systems is that when you engage in commerce in this fashion you have no idea if the person you are talking to is even real or the same as you did business with last time.

a solution is to provide a channel that at least provides proof that you are talking to the same person as last time, and for being able to ask other people, “do you vouch for this person”.

this is basic “trust relationships” traditionally provided by governments and by “the big companies” but has been the basis of commerce for literally millenia. how did we do things before tech? we asked people we trusted for their opinion! just like we are doing right now!

any privacy respecting commerce enabler regardless of what is being traded (goods, data) *has* to fundamentally solve this one and do so in a completely transparent way. full source. no secrets.