A few weeks ago, someone wanted to send me some crypto. After spending months studying for a Blockchain exam, I usually avoid such things. But, hey, $20 is $20. So I signed up for a wallet, installed an extension, verified my credentials, saved a seed phrase, and - without too much technical fuss - had some crypto transferred to my account. So far, so good. Compared to a traditional financial institution it had some advantages - there were no KYC checks or ID verification requirements. But…
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I was at an event a few months ago, where someone from the Bank of England was talking about understanding the user needs for cryptocurrency. One of the things people do when trying to create a new product or service is to write little user stories to illustrate the problem they're solving. You've probably seen this sort of thing: As a… busy parent, I want… a push alert from my washing machine; so that I… can stay on top of the laundry. As a… citizen, I want… an online passport application p…
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As previously discussed, I'm doing the Certified Blockchain Professional course. It is self-directed learning, so I'm going through it at my own pace. In order to consolidate my learning, and help organise my thoughts, I'm blogging about my reflections on each module. These are mostly notes to myself - but I hope if you find something interesting (or incorrect) that you'll leave a comment. One of the biggest challenges organizations face in adopting blockchain solutions is the energy…
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As previously discussed, I'm doing the Certified Blockchain Professional course. It is self-directed learning, so I'm going through it at my own pace. In order to consolidate my learning, and help organise my thoughts, I'm blogging about my reflections on each module. These are mostly notes to myself - but I hope if you find something interesting (or incorrect) that you'll leave a comment. Another poorly edited chapter full of grammatical mistakes and logical leaps. Oh well! I've booked this…
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Here's a (possibly) daft idea. What if you could pay for goods using a transferable bank account? Say you want to pay a friend some money. But you're not physically close enough to hand over cash. You create a new bank account with a unique username and password. As quickly and easily as getting a new email address. Couple of clicks and it is done. You move money from your main account into the new account. This happens instantly and is free. A property of these accounts is that anyone…
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Everything that BitCoin and BlockChain touches is poisoned. Except for this fun wee book. It's a near-future sci-fi cyber-heist with a great cast of characters and some delicious predictions about how the Internet of Things could go disastrously wrong. Thankfully, there's very little technobabble. I nodded along with most of the technology - only pausing occasionally to consider how I would have done that particular hack. Could a shadowy criminal gang really make money by cyber criming a…
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Spotted in London, yesterday. A large, Microsoft Windows-powered advertising hoarding has been hijacked. It's not uncommon to see broken-down Windows displays - I run https://windowsisbroken.tumblr.com/ - which is dedicated to pointing and laughing at such mistakes. But this is the first time I've seen a display repurposed for profit! It appears to be running NiceHash Miner Legacy. A BitCoin mining program for older computers. I'm sure someone cleverer than me can figure out which…
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BitCoin and other crypto-currencies are gaining popularity at the moment - but I remain firmly convinced that they're too hard for the average person to use. I have, however, watched with interest as an ecosystem grows around them. In particular, I like the way The Pirate Bay (and others) have used QR codes to facilitate easy payments and donations. The QR codes contain only three variables - the payment method (BitCoin), the destination, and a message. As this is a donation there is no…
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... as our money becomes completely electronic, new crimes will undoubtedly be committed which take advantage of the technology itself. Perhaps if we could imagine what crimes might happen, we could start to think about how to prevent them. What financial crimes could be committed within a completely electronic marketplace? Future of Money Design Award On one level, there's no change to the basic ideas of monetary crime. You either target an individual or a bank, then fool them or force…
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Bitcoin me! 1LJmePYmet9VjpeAqqLbd0RVGoYcLqAZhk If that "sentence" makes any sense to you - you're not a muggle. Muggles (for want of a better epithet) don't want to invest a lot of time into things which don't fit with their mental model of how the world works. Without getting into a philosophical discussion on what money is and how value is generated - let's look at how Bitcoin works in practice. Failing to Design is Designing to Fail Bitcoin is doomed to fail. Pick a reason why. …
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