Amsterdam NL, 12 Sep 2016 Slides: http://slideshare.net/LaBlogga Melanie Swan Philosophy & Economic Theory New School for Social Research, NY NY [email protected]Blockchain Smartnetworks The Future of Finance and the Automation Economy Part of a Series on Cryptophilosophy cryptophilosophy
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I. Blockchain technology: What is it? Automation economy
II. Singularity-class applications Farther-future
Friendly AI Bio-cryptoeconomy Nanotech/Synbio Blockchains in Space
Nearer-term Financial services, Energy, Logistics IOT, Health, Economic Development
III. Conclusion: our Singularity futures
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12 Sep 2016Blockchain Smartnetworks
Blockchain Technology: What is it?
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Blockchain technology is the secure distributed ledger software that underlies cryptocurrencies like Bitcoin “Internet of Money” leapfrog technology; Skype is an app
allowing phone calls via Internet without POTS; Bitcoin is an app allowing money transfer via Internet without banks; ‘decentralized Paypal’
Smartnetwork visionPushing more complexity through the Internet pipes
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Information
Source: http://www.amazon.com/Bitcoin-Blueprint-New-World-Currency/dp/1491920491Sci-fi inspiration: Accelerando, Lady of Mazes, Blindsight, The Golden Age, Glasshouse
Confirmation of Automated Distribution of
Transfer of
Growing classes of activities for smartnetwork execution I: Information; II: Money, finance, economics; energy; supply chain, logistics,
Decentralized Economics and FinanceCurrent mode is one kind of system for organizing access to resources
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The organizing assumption of economic systems has been scarcity; an orientation to the
production and distribution of scarce material goods. This no longer holds in an era of digital services, non-rival
goods, and complementarity
Mindset Shifts: 1. Scarcity to Abundance
2. Labor to Fulfillment3. Hierarchy to Decentralization
The organizing assumption of financial systems has been the control or at least prediction of the future value of assets and
liabilities; finance = credit (credit is really about trust). Also no
longer holding.
Mindset Shifts: 1. Access instead of Ownership2. Topological Ranges instead
of Point Values3. Assurity instead of
Insufficiency
Sources: http://futurememes.blogspot.com/2016/09/defining-blockchain-economy-what-is.html and New Economies and Finance at the New School: http://blockchainstudies.org/NSNE.pdf
Economics Finance
Present FutureTemporality Regime
12 Sep 2016Blockchain Smartnetworks
Abundance Philosophy of Economics Realization of decentralized economics and finance
19Source: Swan, M. "Automation Economy: An Abundance Philosophy of Economics" In Emerging Technology and Unemployment. Palgrave Macmillan. Forthcoming.
Phase I: transition to Automation Economy Phase II: transition to Actualization Economy
A
B
C
Trust, Autonomy, Recognition
12 Sep 2016Blockchain Smartnetworks
Technological Unemployment Key singularity-class challenge: orderly transition to the
Automation Economy Half (47%) of employment is at risk of automation in the next
two decades – Carl Frey, Oxford, 2015 Why are there still so many jobs in a world that could be
automating more quickly? – David Autor, MIT, 2015
20Source: Swan, M. "Automation Economy: An Abundance Philosophy of Economics" In Emerging Technology and Unemployment. Palgrave Macmillan. Forthcoming.
12 Sep 2016Blockchain Smartnetworks
Agenda
I. Blockchain technology: What is it? Automation economy
II. Singularity-class applications Farther-future
Friendly AI Bio-cryptoeconomy Nanotech/Synbio Blockchains in Space
Nearer-term Financial services, Energy, Logistics IOT, Health, Economic Development
III. Conclusion: our Singularity futures
21
12 Sep 2016Blockchain Smartnetworks
Singularity-class Problems (Kardashev-scale; impact 1 billion people within 10 years)
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Artificial Intelligence and deep learning Friendly AI and “What is consciousness?” Multi-species intelligence BCI cloudmind collaborations (>1 thinking)
Virtual reality Integrating virtual and physical reality
Nanotechnology and synthetic biology Space settlement Automation economy
Autonomous driving Medical nanorobotics Manufacturing and social robotics
25Source: Swan, M. Blockchain Thinking: The Brain as a DAC. Neural Turing Machines: https://arxiv.org/abs/1410.5401.IPFS (Benet): https://medium.com/@ConsenSys/an-introduction-to-ipfs-9bba4860abd0#.bgig18cgp
12 Sep 2016Blockchain Smartnetworks
Advanced ApplicationBCI Cloudminds and Chainbrains Cloudmind: cloud-based thinking
entity, comprised of >1 brains Problem: Safe collaboration of minds
Joining a cloudmind collaboration, blockchains (cryptographic ledgers) to administer cloudminds Line-item tracking and credit-
assignation (like Github, or SVN/CVS for brainstorming)
Privacy, security, remuneration Protect against personal identity loss
and absorption into a groupmind
26Source: http://www.slideshare.net/lablogga/blockchain-cloudminds-humanmachine-pooledmind-dacs; Mind’ is generally denoting an entity with some capacity for processing, not the volitionary action and free will of a consciousness agent
Corporation (packages of smart contracts) Bio-cryptoeconomic principles
High number of agents and “transactions” Secure automation is obvious requirement Bio-Nano Repair DACs for secure,
trackable automation and coordination of medical nanorobotics for cellular repair
28Sources: Bio-Cryptoeconomy: Nanorobotic DACs for Cell Repair and Enhancement http://futurememes.blogspot.com/2016/08/bio-cryptoeconomy-nanorobotic-dacs-for.html
Bio-cryptoeconomy Medical nanorobotic DACs to coordinate cell repair
political, and social systems Civic project participations (P2P micropolis),
provide peergrid resources
Digital Cryptocitizen Sensibility
32Source: Swan, M. Crypto Enlightenment: A Social Theory of Blockchains http://www.slideshare.net/lablogga/the-crypto-enlightenment-social-theory-of-blockchains; EMR: electronic medical record; P2P: peer-to-peer
Energy grid smartnetworks Concept: the power grid of every
continent is an energy Internet “Quantized units” are energy:
kWh/kWm Use case applications
Automatic markets: off-hour and lowest cost demand fulfillment
Smart grid management Energy price and trade validation Resource self-pricing Source fungibility: wind, solar power P2P microgrid infrastructure
35Sources: Rifkin, J. The Zero Marginal Cost Society; https://www.newscientist.com/article/2079334-blockchain-based-microgrid-gives-power-to-consumers-in-new-york/
Functionality: hash + timestamp + blockchain record
Voting: electronic ballot, identity confirmation Futarchy, delegative democracy, random sample
elections Opt-in personalized governance services
Composting vs education; digital identity system, voting, dispute resolution, basic income distribution, public document registry
Blockchain weddings (Bitcoin, Ethereum)
Sources: http://merkle.com/papers/DAOdemocracyDraft.pdf, http://www.proofofexistence.com/, https://bitnation.co/ , World’s First Blockchain Marriage: David Mondrus and Joyce Bayo, 10/5/14, ConsenSys wedding : Kim Jackson and Zach LeBeau, 11/2/15
12 Sep 2016Blockchain Smartnetworks
Agenda
I. Blockchain technology: What is it? Automation economy
II. Singularity-class applications Farther-future
Friendly AI Bio-cryptoeconomy Nanotech/Synbio Blockchains in Space
Nearer-term Financial services, Energy, Logistics IOT, Health, Economic Development
III. Conclusion: our Singularity futures
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12 Sep 2016Blockchain Smartnetworks
Blockchain downside and risks?ISSUE
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Satoshi Roundtable #3: Scaling Bitcoin Milan Oct 8-9, 2016
Hacking ScandalsMt Gox, Ethereum DAO, Bitfinex
Silk Road, drug dealers, terrorists, criminals
Scalability, evolution Block size, sidechains
Mining Centralization
RESPONSE
Centralization temporary; wide-spread at higher-scale; move to 16 nm, solar/hydro-powered chips
Building resilient system constantly under open attack 24/7 (remember early Internet DNS attacks)
Blockchains are a universal technology available to all; non-criminal activity predominates
Early Internet: “this will never scale, insecure, not resilient;” Yahoo, AltaVista down for days due to DNS attacksSource: http://www.coindesk.com/bitcoin-scaling-conference-italy
Technology Risk
Perception Risk
Regulatory Risk, Economic Risk
National government regulation, bans
Governments modernizing economic infrastructure with blockchains too; licensing, open dialogue
12 Sep 2016Blockchain Smartnetworks
Blockchain StrategiesLeadership Edge Blockchain is not a separate industry as
much as a new underlying technology with applications in every industry New kind of more sophisticated Internet
technology for transferring value Multiple blockchains by industry with different
classes of encryption and mining paradigms Money and financial assets Energy, health, IOT, transportation fleets
Developing a blockchain strategy Learn, including via industry user groups Engage with consulting firms Prototype, test, launch applications