I wrote some days ago about the creation, investment, rentier triple of how people can earn money (here). The first two create value for those people. A gain seen not just by those that do the work. Should someone invent a better device, and then an investor comes along to mass produce it, we can all get access to something new for a good price. Everyone gets richer by having an open market and plenty of creators and investors.
The rentier behaviour is different, they take a slice for themselves without creating anything. They make it harder for those creators and investors to succeed, and as a result rent-seekers make everyone poorer.
Crypto currencies allow us to innovate again, allow us to invest again without asking banks or similar rentier companies for permission and without having to pay them a percentage.
The main reason crypto-currencies like Bitcoin Cash allow us to do this is because they have not yet been tainted by those rent-seekers.
The question I have been asking myself is how we can keep Bitcoin Cash free from rent-seekers as much as possible. The solution is to have freedom to innovate.
Please allow me to explain;
Aim to create innovators
We instinctively know the value of safety-in-numbers. If we are part of a large group, the chance of getting attacked is much lower. So it should be no surprise that if Bitcoin Cash is used by a billion users on a regular basis, we can stop worrying about the governments trying to shut it down. If they openly tried to do so, they would surely fail.
What those billion people would not notice is if some people would change some smart bitcoin cash concepts in their favour while leaving basic payment in place. Especially if it were done by small changes over a longer time.
Who would notice? The people that actually build applications that would stop working and indirectly the people that actually use the services they provide.
Thinking about this, when we want to stop the abuse of power we can do that by allowing as many innovators to innovate on top of Bitcoin Cash, helping them succeed. Their success creates our safeguard against corruption.
The first step to solving any problem is recognising there is one. «Will McAvoy / The Newsroom»
If there are 10,000 apps build on top of bitcoin cash blockchain technology, and each has a large user-base of 10,000 users, we have up to 100 million users that will see their service disrupted if the dictators try something. How is that for an early detection system? Bitcoin has shown it can always be forked if enough people are hurt by the people in power.
If anyone was wondering why decentralisation was important, this is it. Decentralisation is our best tool against bullies, dictators or simple greed taking for themselves the benefits gained from ideas like Bitcoin Cash. Decentralisation ensures each of us benefits the most.
We move fastest by standing on the shoulders of giants
The next question I have been asking myself is how we can get more innovators and more apps and more productivity in Bitcoin.
And the answer comes from my experience, I've been active in free and open source software for almost 2 decades and I've seen the most amazing innovations happen because of those open source libraries and tools.
What I've been building is an open source project with a central hub that connects to the Bitcoin network. The hub will provide various ways for you to build on top of. A super fast programmers interface to access data such as transaction history, blocks and everything in between. For instance this can easy be used by a researcher to investigate the blockchain with a statistics unit. Companies with more data needs can run a data-warehouse on top of one or more hubs.
And then we have opportunities for ideas and designs nobody has even thought about yet. No need for them to do all the hard blockchain validation, they can just focus on their own ideas. The opportunities are endless.
I wrote that this is an open source project. The software can be run by anyone without permission, we might even get a hosted version for those that want to just connect to ours running in the cloud.
The goal is to enable innovators to focus their efforts on their own work.
I will write about the hub and ideas I have for it in more detail in a future post.
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