How do you know which bitcoin is not a fake?
Decentralized autonomus organizations
Bitcoin tasted defeat because of speculation and problematic actions of some currency exchange companies . Whatever the drawbacks of bit coin, however , relatively little attention has been given to the ' engine ' known as ' distributed ledger ' or ' block chain ' technology . If we go beyond superficial discussions on bitcoin , we will find a software breakthrough that can be of immense importance in the future of commoning on an open network platform .
The significance of block-chain technology is that it can confirm the authenticity of individual bitcoins without the need for a third party guarantor such as a bank or government entity . This solves an annoying collective behavior problem in the context of an open network (problems arising from individual behavior within a group). How do you know which bitcoin is not a fake ? Or do you know how to expand this idea and see how some of the texts , certificates , and data groups - or the " digital identities " that a vote or an individual claims - are not fake fakes, but " real " ?
Block chaining technology can solve this problem by using a searchable online " ledger " that keeps track of all transactions for bit coins . The ledger is updated about six times per hour and incorporates a new set of transactions known as " blocks " into the ledger whenever it is updated . A very revolutionary aspect of the block chain is that the information is shared by everyone in the network, who uses bitcoins . The ledger acts as a persistent record maintained by a vastly distributed horizontal network . This makes the record much safer than the data stored in centrally managed locations . It is believed that some bit coins are real because it is virtually impossible to damage the ledger distributed over so many nodes in the network .
Decentralized A new generation of Bitcoin 2.0 projects
What does all this have to do with Commons ? You can ask . A recent report suggests that block-chain technology can provide an important infrastructure for building what is called 'distributed collaborative organizations' . ( Also called decentralized autonomous organizations ). A distributed organization uses block-chained technology to give its members specific rights within the organization , Managed and guaranteed . This set of rights can again be linked to existing legal systems that enable these rights to be legally recognized .
A report exploring this new field is entitled "Distributed Collaborative Organizations: Distributed Networks & Regulatory Frameworks." The report was published by Coin Center , and contributed by Swarm, the Berkman Center at Harvard, the New York Law School and the MIT Media Lab .
It is important to realize that the use of block-chain technology is not limited to digital calls . This technology can be applied to a variety of situations where a group of people , whether in the market , commons , or other situations, want a reliable system to manage their interactions in the network platform .
As Sydney Ember wrote in The New York Times , there is a new generation of Bitcoin 2,0 projects that try to bring block chained technology to a new location .
Entrepreneurs around the world are now working on using the technology in other areas beyond the bitcoin transaction . They say that ultimately, the block chain is not just a traditional financial system, but that people have financial assets like stocks , contracts , property deeds , patent fields , marriage permits , all of which require a reliable intermediary It is possible to establish a method of sending and recording .
"There is a competition going forward to expand the capabilities of the block chain, " says Adam Ludwin , co-founder of Chain.com , a company that helps developers build bitcoin apps. .
While many block-chain apps are involved in finance and money, there are many other businesses that want to use this technology as a technology to validate the authenticity of documents such as patent records , title deeds , and financial data . Reed Hundt , former chairman of the FCC , has proposed using block-chain technology as a way to create distributed networks of solar energy in the home . It would track how much energy the home ledger shared or consumed by which home, and it would enable efficient organization of dispersed solar energy grids .
Hunt and his two colleagues wrote : " Calls ( currencies ) run by decentralized , disaggregated ledgers can be converted into renewable energy credits and other government grants . Even it can act as a medium of exchange within photovoltaic energy microgrids and networks, and the network effects created by the robust ecosystem of green currencies can organically drive the adoption of solar panels . " Transactions are almost instantaneous , Transaction costs will be minimal .
Obviously, the mainstream world is focused on a block-chain as the foundation for a new generation of dot-com companies, which are mostly profitable . But Commons-based applications are also very abundant . But we need to be alert enough to get a chance . In a comment on a blog post a few days ago, Primavera de Filippi , one of the leading technology / legal experts in the field of block-chain technology, wrote :
It is our belif that a block chain can help
Our research focuses on the new opportunities offered by block-chain technology , especially focusing on community governance . It is our belief that a block chain can help to implement a new type of Commons-based governance that can greatly benefit the CBPP ecosystem .
For a long time, Commons-based communities have been institutionalized around a centralized or federated structure that can bring a balancing effect to centralization in terms of democratic governance , flexibility , and capacity for development . In general, these systems are designed to facilitate the linkage of groups that are distant from one another and do not have adequate linkage mechanisms or are scaled down . These institutions have also contributed to establishing trust among groups that can not interact repeatedly enough often and repeatedly .
Traditional issues related to shared resources today ( blogger's problem or common tragedy ) can be dealt with through the implementation of block-chain-based governance and the introduction of decentralized incentive schemes that promote transparent decision-making procedures and collaboration and cooperation. There is . The transparent and decentralized nature of the block chain makes it easy for small and medium communities to reach consensus and implement innovative forms of autonomy . The ability to record all interactions on public records that can not be corrupted and the ability to link these interactions to specific transactions ( such as the allocation of encrypted tokens ) by encoding a set of specific rules is a new and sophisticated incentive system . & Lt; / RTI & gt ; This new incentive scheme can be significantly different from traditional market-based mechanisms .
Decentralized block-chain technology allows a new model of non - hierarchical governance by giving trust and linkage to shared resources, where intelligence is not concentrated at the center of the network, but spreads to the edge of the network It goes out . Decentralized, flexible organizations can entirely replace the existing, centralized forms of hierarchical formatting so that commons-based communities can operate in a more decentralized manner . Block chains allow decision-making to occur in a crowd-sourcing fashion, without relying on traditional top-down decision making, and leave the community's collective intelligence responsible for self-monitoring and evaluation of its own achievements .
Although online communities are the first community to experiment with these new devices , online communities can easily move offline and create and build new organizations that will work in the physical world .
So far , commons-based horizontal network production communities have flourished in many areas, but have been difficult to scale up without converting to bureaucratic and centralized institutions . My hope is that we will be able to create new applications that can support the more decentralized and decentralized behavior of these communities ( both online and offline ) by capturing the new opportunities that blockchain technology offers .
This is the current vision . Vollier agrees with Primavera that the new generation of block-chain technologies can overcome many collective behavior problems that can not be easily solved by traditional institutions . Yet it is difficult to overcome the problem of organizing off-line the power of the hardened bureaucrats , the inequality of power , and the collective consensus on a large scale .
Even the credibility of a ' reputable ' third party guarantor can be problematic, as we have seen in the 2008 financial crisis ( for example , the unreliability of the SEC, rating agencies and other surveillance authorities ) . Who watches those who watch ? Block-chain technology is more advanced than many existing corrupt practices . In that it provides algorithms that are less likely to be corrupted , which manage interactions that occur within a group . ( There is a problem, however, when the algorithms are evaluated by the community when they are not experts and are not easily understood .)
The block chain system should not be seen as a magical solution . It is because human cunning and deception do not go anywhere . However, block-chain technology provides better protection to the Commons around them and gives the comers greater tools to help them determine their destiny . Imagine that the internal relations of future collaborative organizations are improved through software-enabled smart contracts , credible deliberation and voting systems , community currencies and other collaborative institutions . Social networks based on block chains that are much more colorful and secure than Web 2.0 can be a new infrastructure for today's much larger scale crowning .
Volley can imagine decentralized collaborative organizations, commons, overtaking bureaucrats that break down traditional disciplines , disruptive politics and the masses . It is a new platform that is less gameable for alternative politics, rather than solving problems through technology . In a world that is increasingly mediated by network platforms , block-chain technology can help us build some novel , socially progressive types of commons . This world is still far away . But it is a rich horizon worth exploring .
How do you know which bitcoin is not a fake?
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