This one has a bunch of good examples of medieval contracts. Very simple (typically half a page to a page long) and very formal which can make them good models for smart contracts.pic.twitter.com/bGtMppB20S
Only two kinds of financial governance are known to socially scale: 1. traditional financial industry governance, with its lawyers, accountants, etc. 2. public blockchains with a strong trust-minimization ethos. Other forms of blockchain governance will fail or evolve towards #1.
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That was my source for the dry exchange and marine insurance contract here (and inspiration for corresponding smart contract code): http://nakamotoinstitute.org/contract-language/ …
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"Knights Templar property contract knowledge off the top of my head, no problem. Here's some resources." You're a beast! What's your reading regimen?
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Why zero trust socialy-scales? It's an antithesis. Social network growth requires trust, just ask
@cesifoti. No trust is disruptive to networks "everyone is a scammer" is no good for business. -
Unwarranted confidence is the "con" in con artist. Trust networks without institutional augmentation (lawyers, accountants, blockchains), etc. that pretend to socially scale are just confidence games.
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What's the largest "trust network" that ever existed without (1) or (2)? Something like the Knights Templar?
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Property & contract law had returned around most of the Mediterranean & France by the heyday of the Knights Templar, but insecure enough that Templar's own vows, rules, beliefs, & security (got their start by guarding Crusader treasure) made them better wealth transmitters.
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Hey
@NickSzabo4 do you have a recommended book list anywhere? If not could you throw out 3 or 4 you like a lot?
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So private blockchains won’t scale? ;-)
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Private blockchains have very poor social scalability, which is far worse than merely being unable to computationally scale. Poor computational scalability of a blockchain can be solved with layer 2 technology; poor social scalability cannot.
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If I have a Hyperledger Fabric deployment to track produce supply chain from farm-to-store, and I have 100 grocers as active participants, would you agree adding 100 more would scale linearly with # of peer nodes & scale exponentially socially since 100 stores already trust it?
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Ripple will turn into #1.
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I currently have a draft medium post discussing when centralization of a supposed cryptocurrency leads to the coin being labeled a security and the related risks.
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Will there be a link to share?
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Here's a taste. This will prompt me to finish it. I'll post a link here when it's done.pic.twitter.com/qznJpasmJB
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Thanks!!
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@naval characterizes this distinction as "protocol tokens" vs. "asset tokens" -http://tonyklausing.com/posts/letter_on_tokenization/ …Thanks. Twitter will use this to make your timeline better. UndoUndo
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I worked in the commodities industry as a trader for more than 20 years. A phone call where you said "booked" was a transaction without any contract needed. In 99.99% of cases this is respected. After a few years in cryptocurrencies I can conclude: human trust is not replaceable
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