Technology

Technology


As elsewhere already reported and commented on the Scientific Advisory Board of the British government has accepted the issue distributed Ledger and block chain and draw up a report on this. This is open cost. Here a rough overview is presented on the title and a few points that are of interest shown.


A government that manifests itself to Bitcoin? Many in the community were after reading some comments on the said document just wide and expected but the usual "Bitcoin's bullshit, which is terrific block Chain" -Gerede. When dealing with the primary source, it is quite surprising; Bitcoin is the document often as an example of Distributed Ledger applications (in the article the block chain is more general than distributed Ledger called) mentioned, nor are they always negative. However, other applications (keyword smart contracts) are mentioned and of course the government's role in this technology is considered.

     

Distributed Ledger Technology - Beyond Block Chain is a document which consists of seven parts. The vision and the technology are considered behind block chain, there is discussion about governance and security issues are considered. Furthermore, the disruptive potential applications for the government and ultimately potential prospects for a global use is contemplated. You see: A quite universal observation of the phenomenon block chain. In addition, among others the following case studies of already existing applications are presented (or very advanced beta versions) of the Block Chain:

Everledger, a system, obtain a certificate in the diamond - if you like, a sort OneName for Clunkers. Thus the way of any mined diamonds would be traceable to its source. One wants to use smart contracts also to automate the terms of a diamond transport and sale must.
SETL wants to be a block chain-based infrastructure, which simplifies the credit, asset and securities trading. SETL promises this to a Miliarde transactions per day, which would be quite interesting for Bitcoin.
Estonia sets for different projects (financial transactions, a block chain-based investing platform to support start-ups and the use of a Public Key Infrastructure, ie a public ledger that stores the data of citizens and select on this, do their banking, the filling tax return, consider the academic performance of their children or put their last will.
Smart contracts and Permissioned Ledger are the focus
Technology

You can tell the document that a big trend, the smart contracts are. Furthermore, the focus of the report less on currencies, but in other applications, especially in areas that are important for a government. It is shown that the structure of the block chain, since it is stored locally, making data loss virtually impossible and even attacks on the system are difficult. This according to the authors of this report the block chain is very suitable to guarantee automated tax payments, the distribution of funds, document security, or a complete value chain. Of course, it is emphasized that for most applications a so-called Permissioned Ledger (ie, a block chain controlled centralized) would prefer to make a government would continue to have control over it. It stressed that a legal apparatus and an algorithmic control of processes in the block chain must influence each other positively. In this regard, even the sharpest criticism of Bitcoin is loud: While Bitcoin is a decentralized system, however, the governance itself is according to the authors in the hands of a small group of developers or the large mining pools.


Overall, the document is in spite of the favoritism of a semi-centralized block chain and the aforementioned criticism surprisingly "pro-Bitcoin". While it is also referred to the Silk Road and similar illegal marketplaces, but you can tell by the title, that it was written before Mike Hearns products. The report represents a good showcase of opportunities and points to what one might achieve with the block chain. It is less a technical document for insiders as something for newcomers - or a brochure, you can press skeptics in the hand.