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No. There is no such thing as "conservation of trust." In this process the overall trust (vulnerability) is often radically reduced.
Trust-minimized governance uses tech to minimize the kinds of decisions leaders are expected to, or in the most secure cases even able to, make. This can lower governance costs & increase social scalability dramatically: the best public blockchains work seamlessly across borders.
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I agree. When incentives are aligned the need for trust will be minimised...
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‘Rules without rulers’!
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Interested in hearing your thoughts on Tau:https://twitter.com/miles2045/status/956011537524719616 …
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Or your thoughts Decred or PoW+PoS (PoA)?
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Creating a revolution requires an expanded thought process. Bitcoin was the successful introduction of many ideas, not just one.
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For thousands of years mankind has been trapped in its own weaknesses, depending on others to rule their lives. For the first time in known history, a new era opens up on which the individual has the possibility to be the master of his own decisions.
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humans are subject to vulnerabilities. Computers are impartial and not at risk of systemic risks of loyalty. They just operate. Unless the programmers are subject to malicious intent.
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The programmers don't even have to be malicious. Gotta watch out for unintended algorithmic bias too! https://www.politico.com/agenda/story/2018/02/07/algorithmic-bias-software-recommendations-000631 …
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Been reading about smart contracts and it’s pretty cut and dry. They are not used to interpret data but to increase the privacy and security of data. Not sure if Govt AI is in the same business. They like to harvest data.
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This has also implication for market structure and competition across digital platforms (see: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2874598 …)
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Politics by coding. What nonsense.
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Consensus coding 5 groups of consensus: Users Miners merchants Developers Exchanges
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Social Scalability.
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This is brilliant. Brilliantly stated.
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