The Bretton Woods White Paper: The Promise of Bitcoin and Blockchain Technology

US think tank Consumers' Research has released an 85-page Bretton Woods White Paper, which contains insights from digital currency company executives, developers and regulators on emerging digital currency technologies. The report discusses Bitcoin and its underlying platform technology blockchain, and co-authors include cryptography expert Nick Szabo, Digital Currency Project (MIT Media Lab) member Michael J. Casey, Bitcoin protocol company Blockstream member Eric Martindale and many other experts in the Bitcoin industry. At the North American Bitcoin Conference in Miami, research executive director Joe Colangelo commented on the report.

According to Colangelo, the report focuses on three main points:

1. To provide those who are new to Bitcoin and blockchain technology with information they may not have previously considered.

2. Providing members of the Bitcoin community with better information that they may not be aware of.

3. What industry experts think of Bitcoin and blockchain technology in 2015.

Bretton Woods White Paper: Multiple Aspects of the Digital Currency Ecosystem

This Bretton Woods white paper contains a lot of information about Bitcoin and blockchain technology, focusing on the main players in the industry and the opportunities these technologies can provide. The content mentioned in the PDF white paper generally includes smart contracts, identity solutions, game theory, and microtransactions. Microtransactions are seen as applications that may change the global financial landscape and network models. Sending small transactions has become a very popular idea today, but for companies such as Paypal, their transaction costs are still very high. The paper reveals that distributed ledgers can allow an efficient and low-cost way to skip this problem. The white paper states:

"For decades, parties have been trying to complete p2p transfers of value through the Internet to achieve micropayments. However, the development and adoption of micropayments have been hindered by the nature of financial institutions and the technical limitations of the Internet structure. Today, blockchain technology makes microtransactions possible, allowing us to re-examine the idea of ​​micropayments." - Bretton Woods White Paper

The Bretton Woods Institute, whose members include the presidents of the MIT Media Lab, the Chamber of Digital Commerce, and many other contributors. The list also includes Nick Szabo, a well-known member of the crypto community. Szabo contributed a lot of smart contract research to this journal report.

Blockchain-based identity is another application specifically mentioned in the report, co-authored by Alicia Carmona from Identity 2020. The report states: Blockchain technology can be applied to many types of record keeping, including property ownership, loans, human rights, and any form of quantified human capital (i.e. financial, social, educational, political, etc.).

At the end of the white paper, it also details the threat that Bitcoin may pose to law enforcement and the creation of decentralized autonomous organizations (DAOs). The paper also seems to recognize that technology is borderless and that this protocol has the potential to subvert the traditional world's financial methods.

The white paper, which will be sent to U.S. congressional offices and industry executives, discusses many challenges facing the Bitcoin protocol, including regulation, criminal activity, and price volatility. It also details the current debate over Bitcoin block size and the rapid growth of its infrastructure.

To view the full report, please visit the Coin Library: http://8btc.com/doc-view.html?d=407

Original article: http://www.newsbtc.com/2016/01/24/ufc-commentator-joe-rogan-conor-mcgregor-could-force-ufc-to-accept-bitcoin/
By Joseph Young
Translator: Overnight porridge
Source (translation): Babbitt Information (http://www.8btc.com/the-bretton-woods-white-paper ‎)