Showing posts with label Consensus Trust. Show all posts
Showing posts with label Consensus Trust. Show all posts

Monday, July 20, 2015

Post-entity Society of Instances

In digital smartnetwork societies, entities wanting to conduct smartnetwork operations will likely need to be independently confirmed and validated through mechanisms like consensus trust. Consensus trust and reputation structures have been conceived as grounded in a fixed and persistent entity.

However, there is the possibility of progressing to a post-entity society. Humans are currently constrained to an embodied form, but this may not be the situation in the future, and there is no such requirement for technology entities in the realm of digital identity. Digital identity might become so distributed, portable, copiable, open-sourceable, sharable, malleable, and shardable, that it no longer makes sense to think in terms of entities.

The question would then be how to enable smartnetwork operations in a post-entity society, perhaps one in which ‘ephemeral instances of capability and creativity’ have replaced identity-bounded entities. The answer is that reputation could still matter. Even if not a full-fledged identity-entity, any instance, any measurable quantum, any participation no matter how ephemeral could still have a reputation.

Reputations could become a lot more complicated, measuring different levels like actor, action, and intention, and also line-item credit for contributions and new ideas; and calculate composite team reputations for sharded cloudmind group participations. All this is could be possible because blockchains give us much more granularity in record-keeping.

Sunday, March 01, 2015

New Legal Regime for Blockchain-based Smart Property and Smart Contracts?

Beyond the already wide-ranging digital currency and financial transaction applications for blockchain technology, there is another class of applications that could allow a complete reconfiguration of law and government. Blockchains are a new form of decentralized information technology, the trustless cryptographic public ledger system that underlies digital currencies like Bitcoin. Some of these potential application in law and government are that in the future, all property (hard and soft assets, and intellectual property) could be registered and transacted via blockchains as smart property. Likewise, all forms of legal agreements, contractual relationships, and governance could be enacted through code-based smart contracts.

An important consideration raised by the possibility of smart contracts and systems of cryptographically-activated assets is whether a new body of law and regulation is required to distinguish between technically-binding code contracts, and more flexible legally-binding human contracts. Contract compliance or breach is at the discretion of human agents in a way that it is not with blockchain-based or any kind of code-based contracts. Since it could be nearly impossible to enforce smart contracts with law as currently enacted (for example, a decentralized program already launched and running is difficult to control, regulate, or sue for damages), the legal framework is essentially pushed down to the level of the contract. It is not that lawlessness and anarchy would ensue with smart contracts, but the implication is that legal frameworks would become more granular and customized to the situation. Parties agreeing to a contract could choose a legal framework just as jurisdiction is selected as a parameter now. Thus smart contracts impact not just property law and contract law, but more broadly the notion of the social contract within society.