Disintermediation

Predicting port traffic using prediction markets

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Background A prediction market allows people to bet on an unknown future event. For example, “What will the Euro-Dollar exchange rate be on date X?”. In several common forecasting scenarios, prediction markets have been more accurate than polls, expert opinions, and statistical methods1 and therefore prediction models are useful for observers (anybody who is interested […]

Disintermediation

Encryption

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Blockchains use Elliptical Curve Cryptography (ECC) to authenticate users and authorise transactions. These notes introduce the field of cryptography and explains how basic cryptographic methods work.1 To begin with the absolute basics, encryption generally works by taking a message and representing it as a series of numbers2 which are then turned into a series of […]

Disintermediation

Blockchain from the ground up: Part 1

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blockchains from the ground up

How to maintain a reliable list across a small network without a central authority This is part 1 of an introduction to the key features of a generalised blockchain. I haven’t included references to Bitcoin or any particular digital currencies or blockchain implementations. This is because a digital currency is just one application of blockchain […]

Disintermediation

Blockchains from the ground up: Part 2

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Maintain an accurate list of transactions across a large group of users, without a central authority This is part 2 of an introduction to the key features of a generalised blockchain. Part 1 introduced key features of immutable record creation between 2 parties using public key cryptography. Part 2 explores how a network of users […]

Disintermediation

Pangea

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Communities will always need to create reliable and enforceable agreements with each other. The problem In many countries the ability to create legally binding agreements is not available to average citizens. Legal services are often unaffordable and opaque, or service providers are corrupt. Legal services are in need of disruption. The solution Pangea Bitnation (who […]

Disintermediation

Bitcoin compared to gold

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A safe haven asset is something to buy during economic uncertainty. Historically, the safest asset you can buy has been gold. This is not because of anything inherently special about gold, but because that is what people believe to be the best long term method of storing value. People believe gold is special because they […]

Disintermediation

Hardware Wallets

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Summary: Current hardware wallets are technically good but are awkward to use. A good solution would solve the following problems What is a hardware wallet A hardware wallet (HW wallet) is a physical device that stores the information required to access digital currency or assets. It is plugged into a computer via USB in order […]

Disintermediation

Bitnation

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I’m Consulting Next week I begin working with Bitnation as their finance officer. I’m excited about this because I get to work on a really ambitious project using new technology to do something innovative and valuable. Bitnation Bitnation’s purpose is to offer the same services as governments do, in a way that delivers more benefit […]

Disintermediation

How to buy Bitcoin

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how to buy bitcoin

I’m often asked for advice about purchasing tokens or digital currencies. Below is the advice I would give to someone who hasn’t bought any digital assets before: Don’t invest what you can’t afford to lose. If the price falls 50%, you need to be able to wait whilst the price recovers. Write down the following: […]

Disintermediation

Digital currencies: the basics

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Digital currencies are often discussed in the context of finance, technology and economics. The Blockchain – the technology which applications like Bitcoin are built on – is significant because it removes the need for trust or an intermediary between unrelated parties transacting with each other. So far, the most influential and famous digital currency is Bitcoin. This post […]