TD₿: How Cryptography Redefines Private Property by Hugo Nguyen
TL;DR Public-key cryptography plays a critical role in the creation of digital hard money, as well as protecting digital property rights.
Hey Bitcoiners,
Today, individuals still mostly depend on their governments to preserve their property rights. This dynamic has been a key aspect of the relationship between individuals and the State for all of history.
In fact, many thinkers argue that the State’s primary reason for being is to protect private property rights and when it fails to do so, chaos and rebellion ensue.
This dependence on the government, and the law, to protect private property rights is disrupted by the advent of public-key cryptography and consequently, Bitcoin.
Public-key cryptography allowed for the creation of hard digital money that can be privately owned by individuals.
No longer do individuals need to trust their governments to preserve what is rightfully theirs.
Hugo Nguyen wrote this article that touches on how public-key cryptography helps redefine property rights for the digital age (11/26/2018).
With the advent of Bitcoin, the social contract between governments, individuals, and their property has been changed forever.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“Dictators *need* censorship, confiscation, and closed capital markets to stay in power. Bitcoin gives free speech, property rights, and open capital markets. Open societies will benefit most from a Bitcoin Standard. Tyrants will suffer. This point cannot be stressed enough.” - Alex Gladstein, Chief Strategy Officer at the Human Rights Foundation
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