As my father always says, an education is something that no one can ever take away from you. It opens doors, creates opportunities, and provides choices.
I am one of those people who loved school, especially my University experience, which included hours and hours of attending lectures and studying follow-up materials, but my education did not end there.
One of the many reasons I love my role at CoinGeek is because it provides me with an opportunity to learn daily.
In many ways, it feels like being at University all over again, especially when I attend emerging technology events featuring some of the brightest minds in the world, including Dr. Craig Wright.
I am so grateful for the countless hours I’ve spent with Dr. Wright, both listening to his presentations and spending time with him in person. Without any doubt, he is the most intelligent person I’ve ever met, and I will never stop learning from him.
I was visiting my family in Boston when Dr. Wright led the first Bitcoin Masterclasses in London at the end of January 2023. When I returned to London, CoinGeek allowed me to attend the rest of the Masterclasses and conduct interviews with Dr. Wright and various attendees.
At first, I was worried some of the content of these Masterclasses would be above my head, but this was absolutely not the case. I was pleasantly surprised when I could follow just about all of Dr. Wright’s lectures and actively participate in the class discussions and breakout sessions.
It turns out Dr. Wright designed the 2023 Bitcoin Masterclasses to help people understand the purpose and future of Bitcoin instead of diving deep into the technicalities behind it. In addition to providing an overview of the history, theory, and design of Bitcoin, citing practical use cases across different industries and regions was always on the agenda. As attendees, we were asked to brainstorm with each other and explore our ideas on how to put the technology into practice.
Looking back, I genuinely enjoyed attending all of the Masterclasses, as did my fellow attendees. It felt like being back in a university classroom with an opportunity to interact directly with your favorite professor and fellow classmates.
Of the seven masterclasses that I attended, six in person and one virtually, CoinGeek produced a highlights video and article for all to enjoy:
Masterclass #1: Identity and privacy
The main theme of this Masterclasses revolved around how privacy differs from anonymity. To be anonymous, we must remove identity, which is not what happens with Bitcoin. When we have privacy as we do with Bitcoin, people are still accountable for their actions, and Dr. Wright’s vision is to examine how we track and link information to keep people safe.
Masterclass #2: Multicast, IP2IP, IPv6
The second Masterclasses had a theme of multicast, IP to IP, and IPv6 (internet protocol version six). Rather than deep dive into these three topics, Dr. Wright explained how and why they integrate with Bitcoin. We discussed the ability to delegate groups using IPv6 via multicast, better and more efficient applications using multicast, and general awareness of how much can be done with Bitcoin and these surrounding technologies.
Masterclass #3: Accounting and mapping transactions on-chain
Triple Entry Accounting is a hot topic amongst the blockchain crowd, with an entire conference dedicated to this subject in Malta last month. Bitcoin is highly relevant to accounting methods and processes due to its blockchain’s ability to create trust within the data layer. Dr. Wright also covered how automated processes using blockchain technology could help eliminate the “garbage in, garbage out” problem when it comes to data processing.
Masterclass #4: nLocktime and delayed transactions
nLocktime and delayed transactions are also known as “smart contracts” and “future payments.” Using nLocktime, transactions that are made today can remain valid way into the future. This masterclass also covered how nLocktime can take complex solutions and “hide” the complexity from the user while still achieving the desired outcome. Dr. Wright emphasized that you cannot get rid of complexity, but you can hide it in a solution so the user does not need to deal with it.
Masterclass #5: EDI logistics and tracing goods
This Masterclass was about supply chains and improving systems by embedding Bitcoin into EDI (electronics data interchange). As opposed to requiring businesses to change their current systems, the idea is to help their systems run more smoothly by plugging into Bitcoin. The transparent, distributed ledger of Bitcoin guarantees the integrity and security of the data, and the peer-to-peer functionality enables smaller businesses to enjoy efficiency without paying for huge, fancy systems.
Masterclass #6: Remittance revolution
Exploring micropayment systems and digital currencies for migrant workers was the central theme of this Masterclasses. We learned how solutions must be built for specific governments—such as the Philippines—using their rules, not ours. Dr. Wright discussed the importance of identity solutions and how linking identity with wallets can help reduce friction with KYC and AML checks.
Masterclass #7: Sovereign Nodes
This Masterclass covered how governments can use the blockchain to make their processes, such as licensing, property, registration, and even issuing currencies, easier. Sovereign government nodes allow governments to feel more comfortable using the blockchain because they can have nodes specific to their jurisdiction and, therefore, more “control.” These government nodes are different from blockchain miners, who are responsible for timestamping the transactions.
Conclusion
After reviewing the topics Dr. Wright covered this year during his Bitcoin Masterclasses, the message I’d like to leave you with is this: it’s easy to fall in love with the potential of Bitcoin even if you’re not super technical. You can discover how the real Bitcoin was designed to improve our world in so many ways straight from its creator.
Dr. Wright loves to educate, and he is happy to teach people at any level, so long as their interest is genuine. Throughout 2023, I learned so much about Bitcoin thanks to these Masterclasses, and you can too. Every session is available to watch online at your leisure, for free, on the CoinGeek YouTube channel. This is my Christmas present to you. Thank you so much for your support throughout the year, and remember to never stop learning!
Watch: Exploring micropayments for ‘Remittance Revolution’ at The Bitcoin Masterclasses #6
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