Szabo – Formalizing & Securing Network Relationships [Parts 1-3]

Szabo – Formalizing & Securing Network Relationships [Parts 1-3]

“… The movement from static to dynamic media promises to bring about a fourth cost revolution in the related areas of jurisdiction, trust, and security. Impacts on business will be felt in law, accounting, auditing, billing, collections, contracts, confidentiality, and so on: in short, the entire nature of our business relationships will be altered in ways only partially foreseeable.”
Nick Szabo

 

Diving into another excellent piece from Szabo on establishing and updating how we create, enforce, and control relationships in the world of cyberspace.  Check out the full essay at the Nakamoto Institute:
https://nakamotoinstitute.org/formalizing-securing-relationships/

And don’t forget to follow Szabo on Twitter:
https://twitter.com/NickSzabo4

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Part 2 – Listening to an essay from 1997 that details specific challenges of something as distant as the smart contract embedded into the Lightning Network shows the unbelievable foresight of the cypherpunks. As well as the dedication to seeing their vision become a reality. Don’t miss the continuation of Szabo’s amazing piece, “Formalizing and Securing Relationships on Public Networks.”

Don’t forget to check out the many different elements discussed in the commentary if you want to learn more.

Neutrino:
cryptoconomy.life/2018/10/18/neutrino-the-lighter-side-of-lightning/ 
Eltoo:
cryptoconomy.life/2018/05/01/eltoo-a-simplified-update-mechanism-for-lightning/

 

Part 3 – The risks and benefits of chargebacks, the nature of the trade-off between contract enforcement & ensuring privacy, the elements of splitting contractual elements (the ripped dollar bill) to minimize trust, pseudonymous credit ratings, and so much more in our completion of Szabo’s essay, “Formalizing and Securing Relationships on Public Networks.” More amazing foresight into the problems of smart contract design, detailed more than a decade before Bitcoin even existed.

Link to the Nakamoto Institute for hosting this incredible work:
nakamotoinstitute.org/formalizing-securing-relationships/ 

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Securing Property with Owner Authority

Bitcoin is the first truly decentralized registry for property ownership. The first application of which is value in its most abstract form, money.  But how can we extend this to physical property and titles outside of political institutions?  Who better to explore the topic with than Nick Szabo (@nickszabo4)? “Securing Property Titles with Owner Authority.”

Check out other detailed work on this concept and more with the excellent collection of literature at the Nakamoto Institute:
https://nakamotoinstitute.org/secure-property-titles/#selection-7.7-7.50

Video with Peter Wuille referenced in the commentary:
https://www.youtube.com/watch?v=YSUVRj8iznU

My own article referenced in the commentary:
https://medium.com/@thecryptoconomy/7-misunderstandings-of-bitcoins-scaling-problem-c5142e938a68

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