Bitcoin’s Private Property Rights
For the first time in history, bitcoin offers us a property option that does not rely on a local authority or legal system to protect it.The below is from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.Berlin Votes To Seize Real EstateIn Berlin, Germany, a growing shortage of affordable housing coupled with increased demand to live in the city has reached a boiling point. Yesterday, voters took part in a referendum on whether to....
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Bitcoin stands out because it is a digital bearer asset that gives full private property rights to its users, and development must carefully protect this aspect.
Bitcoin protects private property for its users due to its theft-proof design, its use of decentralized nodes and an immutable public ledger.
Robust property rights in the physical world are one of the key indicators of a wealthy economy — and that’s exactly what digital property rights enable in Web3, says Animoca's co-founder. Yat Siu, co-founder of Hong Kong-based venture firm Animoca Brands has argued that on-chain digital property rights are the main aspects of blockchain technology that will drive a more decentralized society.Speaking at Korean Blockchain Week 2022 (KBW), the Hong Kong entrepreneur noted that we’re all “digital dependents” and “data is the resource of metrics” that bring value to platforms like Apple,....
China may soon have a set of laws offering legal status to Bitcoin and other digital currencies in the country. The laws offering rights to virtual property and data is part of the recently released draft of the People’s Republic of China General Principles of Civil Law. According to reports, the new draft law was created as part of the recent Conference of the NPC Standing Committee. The draft is created keeping the changing global economic landscape in mind. It is said to consider virtual networks, data, and information as properties almost on par with physical and financial assets,....
Democracy is antithetical to the fundamentals of private property rights and, therefore, the functional, fair organization of society.