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How to improve Bitcoin

How to improve Bitcoin

The improvement of Bitcoin’s ecology includes two aspects, one is the improvement of infrastructure and the other is the improvement of application scenarios.

I think it is mainly a node problem about Infrastructure. until now there are still many limitations in current hardware, if you have a wider network and a larger hard disk, you can think outside Thinking framework and think about it. Bitcoin core should be deployed at a finer granularity in a cloud network, there is no need to deploy a personal computer or mobile phone in the mobile terminal. For example, block chain router, he can achieve super node and transaction confirmation calculations into one, it is as simple and convenient to design the transaction settlement network to find wifi. For another example, the Internet of Vehicles is now very hot in the investment circle, because the car will inevitably become the information terminal for future mobile. A car can also be a super node or a private node of a block chain. When it comes to such a state, digital finance is really like water and air, everywhere, the richer the nodes, the time lesser when the bitcoin transaction broadcasts confirmation. The shorter, the digital currency can only be developed to this stage, in order to achieve the goal of “making freedom become freedom and wealth become wealth” as stated in the CCTV feature film “Currency”.

Nowadays, many people are studying sidechains. The main reason for the research on sidechains is that the amount of information that Bitcoin blockchain can carry is too small. As the ecosystem of Bitcoin itself is perfected, this problem will certainly be solved. Of course, the agreement also divided into many layers, the development of sidechains can become a higher-level protocol that will enrich Bitcoin’s flexibility to solve real-world problems.

With the improvement of the application scene, the entrepreneurs of the currency circle are making various attempts, games, cross-border online shopping, gambling, equity crowdfunding, etc., and there are many pain points in these scenes. Games: The issuance of game currency and cross-border circulation will definitely change the current format of virtual commodity trading; cross-border online shopping : cross-border redemption issues, especially for service-oriented commodities, such as copyright trading market, creative market, design market, outsourcing service market Etc., can promote the evolution of payment, there must be a blind spot in the global payment network, for example, designers in small African countries can directly serve a cafe in China through such a payment network in their own home; True fair, probabilistic, non-cheating lottery; equity crowdfunding: the company’s stock mark and no fraud, stocks are easier to virtualizes transactions, bitcoin unforgivable mark itself has very large practical value, theoretically The smallest unit of bit currency “Cong” can mark any kind of assets, including: simple and fast multinational signature, international contract signing, judicial deposit, etc. In the financial field, paying a Cong can become an angel investor, a person’s company It can also become a public company, all of which are possible in the Bitcoin network…

Can digital currency become a national strategy?

What role does digital currency play in imagining national strategy? When Silicon Valley prophet Kevin Kelly came to Beijing headquarters in 2014, he said, “I think the Chinese government may ask for an (official) digital currency within 15 years because it provides open and detailed transaction records. Of course, this digital currency may be similar to a bank, not a bitcoin.” There is a consensus that many people agree that Bitcoin still has the potential to become a phased product, but Bitcoin technology will certainly develop in the long run. Does the government have such a claim? Absolutely there is, of course, it will certainly not be a form of bitcoin, more embedded. At the national level, the country does not need digital currency such as P2P, anonymity, anarchism, and risk of money laundering, and these characteristics are not inherent properties of Bitcoin. The essence of blockchain technology is that it is an open and transparent transaction record. We removed the anonymity of Bitcoin, extracted the p2p general ledger technology, password verification technology, and put it into a subdivided sample to see if it can solve some real problems. For example, financial transfer payments, project-specific fund management issues, pre-programmed settings are definitely more efficient than post-special audits. It can also better solve the problem of the game between the local government and the central government. When running the money, the space for rent-seeking will be compressed. For example, solving the problem of social security medical insurance, the idea of ​​using digital currency for fund management under complicated conditions can greatly improve efficiency. Everyone is in the scene of our medical insurance reimbursement, various diseases, various medicines, our country’s management system can not meet this complicated condition, can only continue to recruit people to carry out human governance, artificially created inequality, leading to extreme Inefficiency and social injustice. For example, the central bank’s currency control of banks, using digital currency can also achieve more efficient and accurate management, do not worry about out-of-control in vitro and off-balance sheet issues in the bank’s statement of accounts. Many of our macro-decisions are based on erroneous economic data. It is not said here that it is the most hated thing ,so many economists hate that. Let us think more farther. The original top-down administrative management mechanism is difficult to adapt to the ecological environment in which all things in the world are freely connected. The systems, policies, and rules of our country are all based on administrative power. Under the spur of the implementation of such a system, the underlying innovation is very small, and the time of its own evolution is very long.

Speed up the process of globalization

Even in the farthest places on the earth, the time of information dissemination only takes 0.8 seconds. The emergence of the Internet has flattened the world, and the advantage of information symmetry is no longer a patent of a few people. The emergence of Bitcoin can make the world more flat. It is too valuable to let human beings around the world recognize a monetary standard and financial agreement regardless of country, culture, race, and language. By establishing an open, transparent and verifiable system, everyone can participate in simple game rules and make it a global currency. Only then can the Earth be eligible to participate in interstellar competition.