Craig Wright talks Bitcoin in Oman: Think about what transparency really means

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Bit­coin has the pow­er to cre­ate glob­al-sized local indus­tries, trans­form cyber­se­cu­ri­ty, and build a more hon­est sys­tem, said Dr. Craig S. Wright. Speak­ing on a pan­el at the Glob­al Forum/Shaping the Future event in Mus­cat, Oman, in Octo­ber 2022, he described how Bit­coin could incen­tivize pos­i­tive activ­i­ties through trans­paren­cy and account­abil­i­ty.

Also on the pan­el were Fat­ma Al Mukhai­ni, Chair, Robot­ic Process Automa­tion Devel­op­er, PDO Oman; Pro­fes­sor Latif Ladid, Chair IPv6 Forum, Uni­ver­si­ty of Lux­em­bourg; Daniele Tumi­et­to, Adjunct Pro­fes­sor, Politec­ni­co de Milano, Italy; and Halah Al Zad­jali, Senior Exec­u­tive of Gov­er­nance, Poli­cies and Gov­er­nance Direc­torate, MTCIT Oman.

New ways to cre­ate glob­al indus­tries and stay local

“We final­ly found out who the mys­te­ri­ous fig­ure named Satoshi Nakamo­to is,” mod­er­a­tor Michael Stankosky said. He added that he’d pre­vi­ous­ly met (www inven­tor) Sir Tim Bern­ers-Lee and had been a mem­ber of his advi­so­ry com­mit­tee. He not­ed the feel­ing “when you meet peo­ple like Craig who are inven­tors too, chang­ing the way we do everything.”

Dr. Wright’s pre­sen­ta­tion was titled “Bit­coin, IPv6, and the Future of the Inter­net,” although he spoke more gen­er­al­ly about what Bit­coin is, what it isn’t, and a few of the effi­cien­cies it could bring to mon­ey, glob­al busi­ness, and cyber­se­cu­ri­ty.

“Real­ly, what we’re talk­ing about is a sys­tem designed to make all of the prob­lems in trans­fer­ring mon­ey go away. It’s not about anar­chy, it’s not anti-bank, and it’s not anti-government.”

He told the audi­ence that Bit­coin could trans­form busi­ness by allow­ing peo­ple to keep indus­tries in the places they’re from rather than putting all their efforts into relo­cat­ing. They could build com­pa­nies with­out the end goal of sell­ing them to Face­book or “con­sol­i­dat­ing every­thing into a small com­pa­ny group in Sil­i­con Val­ley.” Bit­coin allows new ways to mon­e­tize activ­i­ties, uti­liz­ing micro­pay­ments to move away from the internet’s cur­rent ad-sell­ing model.

Bit­coin cre­ates new ways of doing things, such as new incen­tives to spon­sor and “own” eco­log­i­cal projects and human­i­tar­i­an activ­i­ties, he said.

He also reit­er­at­ed that Bit­coin is a trans­par­ent sys­tem designed to counter crime and cor­rup­tion no mat­ter who was attempt­ing it, whether they be hack­ers, drug deal­ers, ter­ror­ists, or dis­hon­est gov­ern­ments. On the Bit­coin blockchain, it’s impos­si­ble to ever delete trans­ac­tion logs, tak­ing inves­ti­ga­tors back to a time when they used human intel­li­gence and con­nec­tion-track­ing rather than mass surveillance.

“It enables pri­va­cy, but the blockchain is not encrypt­ed. It is pub­licly auditable by every per­son on Earth. That should scare the bejee­bus out of every dis­hon­est government.”

Cyber­se­cu­ri­ty and IPv6

Mov­ing on to cyber­se­cu­ri­ty, he men­tioned the Bit­coin SV (BSV) blockchain project Cer­ti­hash by name, describ­ing how it logs IT sys­tem events on-chain, sends alerts about any abnor­mal activ­i­ty, and keeps records of all access attempts. This saves data breach inves­ti­ga­tors months of work in try­ing to fig­ure out what hap­pens, some­thing that’s a large drag on the dig­i­tal econ­o­my today.

Inte­grat­ing all this with IPv6 “means rad­i­cal­ly rethink­ing every­thing we do on the inter­net,” he said, refer­ring to past inci­dents which saw flow-on events from com­pro­mised dig­i­tal cer­tifi­cate providers that com­pro­mised every­one who used them, “prac­ti­cal­ly every­one on Earth.”

Bit­coin could ush­er in a new era of hon­esty. “I want you to think about what trans­paren­cy real­ly means,” Dr. Wright said. “Do you want to be stew­ards to your peo­ple, or do you want to keep them in the dark?”

Pro­fes­sor Latid Ladid, IPv6 Forum chair, con­tin­ued the inter­net pro­to­col theme. He com­pared unique IPv6 address­es to tele­phone num­bers, say­ing that in the 1960s, not every­one had a phone num­ber, but these days it would be unusu­al not to have a unique one. You need to have your own inter­net address to have any pow­er, he said, point­ing out that inter­net users today fol­low the rules and secu­ri­ty prac­tices dic­tat­ed by oth­er providers.

He also not­ed IPv6 advan­tages for blockchain and gam­ing, and gave an update on which coun­tries were doing the best with IPv6 deploy­ment. Asian coun­tries like Japan, Malaysia, India, and Thai­land have made great gains, as have Sau­di Ara­bia and the Unit­ed Arab Emi­rates. Coun­tries like France have accel­er­at­ed IPv6 adop­tion using pro­grams such as grant­i­ng 5G licens­es only to those work­ing with the new protocol.

The pan­el dis­cus­sion was part of the Glob­al Forum event called “the Inter­na­tion­al think-tank on the dig­i­tal future” and “the Davos of ICT.” The 2022 event took place in Oman, the first time it has been held in the Mid­dle East. Oman’s “Vision 2040” ini­tia­tive seeks to cap­i­tal­ize on dig­i­ti­za­tion tech­nolo­gies and make the coun­try a test­bed for new tech­nolo­gies across many sec­tors through infra­struc­ture and invest­ment incentives.

Watch: Blockchain Ven­ture Invest­ments: Dri­ving Util­i­ty for a Bet­ter World

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New to Bit­coin? Check out CoinGeek’s Bit­coin for Begin­ners sec­tion, the ulti­mate resource guide to learn more about Bitcoin—as orig­i­nal­ly envi­sioned by Satoshi Nakamoto—and blockchain.

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