Blockchain Reinvention

I ntro duction In the industrialized world, as modern democracies, we have come to appreciate the need for a minimum amount of basic government, providing for national defense, law and order. Many people also recognize the limits of government, as government should not take over functions that people and associations can do by themselves. For example, the libertarian author Frederic Bastiat wrote in “The Law”: “ The law is the organization of the natural right to lawful defense. It is the substitution of a common force for individual forces. And this common force is to do only what the individual forces have a natural and lawful right to do: to protect persons, liberties and properties; to maintain the right of each, and to cause justice to reign over us all.” Most democratic nations however, have leaned towards increasing involuntary taxation to fund more centralized economic and social programs. The history of almost every nation in the world shows that the tendency to...

Addressability of devices and users may be the next area of research and development for unpermissioned crypto-networks. New generation crypto-networks will support several types of distributed applications, in addition to financial transactions and distributed smart-contract applications (such as Ethereum Dapps). For example: Blockchain-registered unique devices may want to interact with IoT objects. Virtual private blockchain networks may need to be supported. Many types of general distributed applications (Gapps) will need to share information among a selected group of peers. All of the above applications will need primitive functionality for user and/or device addressability in an environment without a centralized directory infrastructure. All of these applications will need to establish a more permanent session between peers than a one-time transaction. Also, they will involve the participants, but not necessarily the rest of the world. Some resea...