Yale University lecturer emphasizes blockchain transparency

With the recent leak of the Panama Papers, the startling dealings of the law firm Mossack Fonseca have come into the public eye. In a recent public radio column, Yale University lecturer Mansharamani discusses the Panama Papers and his vision for the future of privacy.

Of course, the super-rich use all sorts of tax loopholes and shelters to protect their assets, but this seems somewhat different from the truth revealed by the Panama Papers. Should a person's right to privacy be determined by their ability to pay? There is nothing wrong with privacy itself, unless it is used to avoid the application of the law. Mansharamani believes that a solution to the privacy problem may be found in the process of using data blockchain.

Mansharamani provided the architecture of the data blockchain, which will provide an opportunity to add a visual layer to the cloud of economic functions, an idea also proposed by Michael Casey at an MIT event . Mansharamani pointed out that the automated trust function of the public ledger will simplify business and government transactions, while breaking down information bottlenecks and improving transparency and efficiency.

Real estate is one of the most popular ways for people around the world to build personal equity, provided you can prove you own the asset, so usually real estate is considered. Mansharamani points out that in places like Honduras, where 60% of the land is illegal, using blockchain technology, Honduras has the ability to create a distributed registry. The country is currently testing the system, and Ghana is also investigating the technology. As the author says, this will promote economic development in these countries and enhance their democracy.

Mansharamani made another case for using blockchain for digital rights management to increase transparency. In theory, the system uses smart contracts. Each artist's work has a digital signature, and when the signature is recognized, payment is triggered. Ethereum developers have been working on this project.