Giacomo Zucco - BITCOIN: POLITICAL ATTACK VECTORS AND COMMON MISCONCEPTIONS | HCPP17
Channel: Paralelní Polis
Date: 2018-02-03

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GIACOMO ZUCCO

Theoretical Physicist, former Technology Consultant for Accenture spa, serial entrepreneur in the field of emerging technologies. Economic blogger and contributor to several Italian newspapers. Involved in several projects in Bitcoin and blockchain space since 2012, he is now CEO of BHB Network, a research/development/incubation/consulting firm and a world-class competence center in the field.

TALK: BITCOIN: POLITICAL ATTACK VECTORS AND COMMON MISCONCEPTIONS

The blockchain technology was not brought about to improve past technologies, instead, its roots are exclusively political. The idea behind its development, started by the internet cypherpunks and then continued by Satoshi Nakamoto, is the creation of a monetary tool able to defy government censorship and to protect user’s privacy. In this speech, Giacomo Zucco will dispel myths about improbable uses of the blockchain, especially in the financial/banking world, and he will outline the true challenges behind Bitcoin. Part of those challenges are also political in nature: In the last months, we have seen interesting developments with the proposals of various contentious and not technically-motivated hard-forks, one of which was enacted (Bitcoin Cash). Those splits can be seen as a new kind of political attack vector against the decentralised and censorship-resistant nature of Bitcoin. To understand the absence of true technical motives behind those kind of consensus changes you have to understand the fundamental difference between the necessity of a dynamic, versatile and competitive system, following the Schumpeter’s definition of “Creative destruction”, able to disrupt and replace the current financial and monetary system, and the absolute importance of a resilient immutable base protocol. Protocols like the TCP/IP are very difficult to upgrade because they are base level network architectures, Bitcoin more-so needs to be static to withstand every kind of attack: strong foundations to build on. On the other hand, some changes are still deemed to be necessary and desirable before the eventual crystallisation of the protocol: one example is Segwit that was finally activated at the end of August 2017.

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