Replacing The Dollar With Bitcoin Architecture

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This is the third arti­cle in a series about lessons that can inform bitcoin’s replace­ment of the U.S. dol­lar. Read the first arti­cle in the series, on leav­ing the gold stan­dard, here. And read the sec­ond, on dis­man­tling fiat archi­tec­ture, here.

In part two of this series, we dis­cussed the appli­ca­tion of the Open Sys­tems Inter­con­nec­tion (OSI) mod­el as an archi­tec­ture mod­el for under­stand­ing the fiat sys­tem. In part one, we dis­cussed the aban­don­ment of sound mon­ey prin­ci­ples and why that hap­pened. Here, we will dis­cuss a new sys­tem, one backed by Bit­coin. Then, the next arti­cle will address the rea­son­ing for our aban­don­ing of sound mon­ey prin­ci­ples, and how our new sys­tem of Bit­coin incen­tivizes every­one to hold to those prin­ci­ples with­in the archi­tec­ture we will dis­cuss today.

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