I’d like to share this video with you: it’s an interview with Cryptographer Ian Grigg, who talks about ground principals in different generations of bitcoin.

The video is quite short, and brings a lot of basic considerations behind crypto together:



I try to summarize the core considerations:

1) All contractual transactions require a 3d party for a neutral and formal confirmation of that transaction

2) In a Blockchain like Bitecoin the decentralised network takes over this role of authority

3) Riccardian would be a contract strictly between two party without external confirmation. This raises the question of a unique identity

4) Bitcoin rejects the use of contracts because this would identify actors and thus make them attackable.

5) A social network of stakeholders, who are all invested personally, would be the only proper way to create a computable form of identity.

I assume this way person to person contracts could be genuinely decentralised.

Of course this helps a lot to understand what Dan is after, when he works toward a constitution where there is used no force, and also what Steem, which among other is intended as something like a giant experiment in reputation- and thus identity-building.

If you really into understanding core prinicipals of crypto make sure to watcht the video, if you’ve seen it, what did you take away?

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