Events 20 March 2019Erik Gibbs
Dr. Craig Wright and seminar on DACs now available on YouTube
Dr. Craig Wright made a presentation at the Fourth International Congress on Information and Communication Technology (ICICT) 2019 in London last month regarding decentralized autonomous corporations (DAC). The work he has done on DACs was impressive enough to see Wright receive the “Best Paper” award at the ICICT and an edited version of his presentation is now available for viewing on YouTube.
It’s a truly fascinating subject and one that should open the eyes of business owners and virtually everyone, regardless of industry. A DAC can be defined as a type of single corporation that spans multiple locations simultaneously; if one location or business point fails, the operations can continue without interruption.
DACs offer the ability to create organizational structures that make optimal use of autonomous agents, artificial intelligence and other advanced technology. These technologies eliminate failure points and allow for the automatic implementation of certain policies and procedures in order to ensure their authenticity at all times.
An autonomous agent is a computer system that is located in a certain environment, such as the Internet, and which is capable of autonomous actions in the environment in order to meet its design objectives. It is purely software that can receive and execute instructions, but cannot manufacture products, code or develop hardware.
The agents work through secure multiparty computation (SMC) protocols. These allow a group of mutually distrusting parties to compute a joint function on their private inputs. They also provide a threshold group to safeguard confidential information.
If it sounds like the idea is to create robotic industries, nothing could be further from the truth. On the contrary, the goal of DAC systems and autonomous agents is to put the control back in the hands of the people. As with all blockchain data and programs, every process, step, policy, contract and negotiating strategy is stored immutably. There can never be a question about the authenticity of the details surround a particular event, because all of the details are forever and indelibly engraved in the blockchain.
This ultimately means that individuals will have the control. There wouldn’t be a question over the legitimacy of a legal claim or of a news article, because everything is registered and visible on the blockchain.
Blockchain technology has begun to receive a significantly higher amount of attention and this is undoubtedly going to continue as it continues to prove itself. As further adoption occurs, DACs could potentially be the future of business.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.
Events 18 April 2019
Are you ready for the 2nd Bitcoin SV Meetup Manila on April 20?
Attendees to the 2nd Bitcoin SV Meetup Manila are encouraged to download the HandCash or Centbee wallet apps so you can receive free BSV and pay for your beers at the event.
Events 16 April 2019
Dr. Craig Wright speaks at Oxford on smart contracts, written agreements
Dr. Craig Wright recently gave a presentation at Oxford University in the UK on the power of Bitcoin for contracts and written agreements.
Events 5 April 2019
Bitcoin London meet-up recap: Moving forward with the original Bitcoin
The first Bitcoin London meet-up of 2019 brings together professionals who wish to network and learn more about the technology outlined in the original Bitcoin whitepaper.