Many years ago, someone tried to get me into cryptocurrencies. "They're the future of money!" they said. I replied saying that I'd rather wait until they were more useful, less volatile, easier to use, and utterly reliable. "You don't want to get left behind, do you?" They countered. That struck me as a bizarre sentiment. What is there to be left behind from? If BitCoin (or whatever) is going…
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Happy Birthday Bitcoin! At the risk of awakening long-dormant beasts, it looks like Bitcoin has failed for day-to-day transactions. So I've a simple question to ask - can you meaningfully spend any cryptocurrency in your city centre? A few months ago, my wife and I went on a 30 day Interrail holiday across Europe. 10 countries, over a dozen cities, making over a hundred payments. I looked in…
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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…
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Dear the venture capitalists. I am a very charming white man and am prepared to drop out of university if you'll invest in these ideas. In the future, all your clothes are an NFT. "Wow! I love your blouse." "Thanks, here's a smart contract showing where I purchased it from. If you buy one, I get 10% of the sale price back in WoolworthsCoin." Applause Tokens™. A smart monitor under your t…
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Wouldn't it be good if digital currencies worked offline? I'm going to talk through a proposed user experience, and then discuss how it would work in practice. Let us imagine a future digital currency ₢. It might be fiat, it might be crypto, doesn't really matter. Alice loads up a smartcard with ₢100 and locks it. Alice gives Bob the smartcard. Bob uses offline verification to see that the sma…
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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 mac…
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When I was young, I had a piggy bank. A piggy bank is incredibly secure. It's fairly big - so it is hard to lose. It is brightly coloured - so you can find it easily. No one else can see how much money there is in there. The only way to get money out is to smash it - providing visible evidence if someone has robbed you. And smashing makes a noise - deterring would-be thieves. A piggy bank is…
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This is a small proof-of-concept. It relies on PGP - but you could use Keybase, GPG, or any other hard-to-use encryption program. Background Suppose you want to support an artist and give them money. That's easy. Most artists take PayPal, bank transfer, or cash. But how can you prove that you've paid an artist for a specific piece of work? That is, in essence, all an NFT is - the seller…
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I recently read this interesting, and distressing, story of a man who was drugged and robbed. A form of crime which has been going on for centuries. But the 21st Century twist is that the thieves forced him to transfer large sums of money via his phone's banking apps. While under the influence, the victim used his usernames, passwords, PINs, and biometrics to send money to the criminal's…
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You've heard of the AI Winter, right? The period where funding for AI dried up due to products failing to meet their hype. I think we're now in Springtime For Crypto - named after the musical "Springtime for Hitler" from movie The Producers - where scams abound. You should take a couple of hours to watch The Producers. Either the 1967 classic movie, or the 2005 remake will do. The pivotal…
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David Bowie invented the NFT in 1997. The "Bowie Bond" allowed you to directly invest in an artist's catalogue and receive royalty payments based on their sales. Here's how it worked: You pay money to the artist (Bowie) Artist uses that money to buy the rights to their back catalogue Every time one of the songs from that catalogue is sold, or played on the radio, the artist gets paid Investors …
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This is a thought experiment inspired by the sort of rambling and speculative conversations my wife and I have been having in lockdown. Most countries in the world place legal limits on alcohol production at home. There are, usually, several good reasons for this: Improperly brewed alcohol can cause severe health problems - including death. Poorly set up stills can - and do - explode.…
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