Banks must embrace permissionless blockchain to derive benefits: Nick Szabo
In an interview with IBTimes, blockchain specialist Nick Szabo has said that the banks would need to abide by the same principles as are followed by Bitcoin, if they want to get more out of blockchain. For that, he said, the banks will have to accept the system of 'permissionless blockchain.'. He also said that if the banks decided to go on the path of permissionless blockchain then they will not only do as good as the current companies but also may end up surpassing them. However the cryptocurrency specialist was quick to point out that since the bureaucracies are keenly focused on the....
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Nick Szabo is a legal scholar and cryptographer, and although he has categorically denied it, some believe him to be Satoshi Nakamoto, the creator of Bitcoin. Nick is the author of bitgold, which was the most complete conceptualization of a decentralized currency prior to Bitcoin. In November of 2013 Nick Szabo went dark and made his last known public communication for a long time. Seven months passed, and during that time more accusations that he was Satoshi arose. Aston University's Centre for Forensic Linguistics claimed that a forensic analysis of Bitcoins' White Paper suggests that....
Smart contracts pioneer Nick Szabo has lauded the security benefits of decentralised monetary systems built using blockchain technology. Speaking at Ethereum'sDEVCON1 conference, held in London today, Szabo - often rumored to be the creator of bitcoin - gave an overview of the blockchain's history and highlighted the security inefficiencies of centralised systems typically used by traditional finance institutions. Centralisation is insecure, said Szabo, before noting mainstream finance's reliance on government and law enforcement officials for security: "This is one of the reasons why....
No, smart contracts will not rid the world of lawyers, despite the greatest efforts of blockchain innovators. At least, that's according to Nick Szabo, the man widely credited with inventing the smart contract concept itself. During the keynote address at the Smart Contracts Symposium at Microsoft's New York headquarters this week, Szabo gave an update on the industry he helped create – a talk that was followed by a string of commenters from smart contract startups. Addressing a group of about 250 people (comprised largely of members of the blockchain trade association, the Chamber of....
Nick Szabo, the author of bitgold, the most complete conceptualization of a decentralized currency prior to bitcoin, the person who coined the term smart contracts in 1993, and believed by many to be Satoshi himself, published a one line blog post today which simply contained a link to his twitter account. The last known public communication from Nick Szabo was in November 2013, almost seven months ago, leaving many to wonder whether he would ever post again. The seven months silence seems to have followed increasing attention on Nick Szabo after numerous suggestions that he might be....
An interesting submission today on social sharing website Reddit.com. A user submitted the link to a blog belonging to Nick Szabo Thursday morning, which leads to a Twitter account that would appear to belong to the mysterious figure many in the community have speculated to be the Satoshi Nakamoto. Despite the fact he's denied having involvement in the development of bitcoin, his previous works suggest he has tremendous interest in the subject, and forensic linguists have even suggested the writing style in the bitcoin whitepaper matches that of Szabo. And his tweet history on Twitter is....