, 6 tweets, 2 min read Read on Twitter
Very interesting dinner this evening with CEO of blockchain company I advise, together with an old friend who was my tutorial partner at university 30 years ago. I believe my friend has made a major breakthrough in modelling macroeconomics — sees essential simplicity others miss.
The importance of this breakthrough — you might call it "molecular economics" — is that it allows you to state what properties of a system of exchange will keep true in all circumstances. With blockchain we can design new "mini economies" to solve trading and incentive problems.
The problem is that this is a paradigm change, and blow apart many widely popular economic theories by offering a simple mathematical proof they cannot be true. A lot of PhDs and professors stand to lose face as a result. Hence getting these ideas adopted is not simple or quick.
The prize is to create "Integrity by Design", a bit like how we have "Privacy by Design" principles. This makes honesty a "first class" property of business systems, rather than being an accidental side-effect of the virtue of participants. Cheats and frauds are engineered out.
This is not the first time I've dealt with massive paradigm-busting ideas in distributed systems design — the #DeltaQ calculus and #RINA architecture are examples. The possibilities for building a HUGELY better world are limited only by our imagination — plus removing criminals…
Who would have ever guessed that process algebra and formal methods of software proof that we learned 30 years ago would be useful in redesigning economies with "software-defined money"? Coincidentally, I notice many of blockchain folk I know are also "Q aware". We're not idiots!
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