The original Bitcoin protocol supported all of this security and governance protection. Ironically as an innovation to overwhelm PayPal and the rest of the payments industry.
The security of a system is always about the cost to attack vs the cost to defend.
But for some reason - I think we all know why, it was undermined and put back on the shelf. And its inventor sent into exile.
The curious thing is, there is a perfectly capable public network already running securely for years which could be adopted immediately and immutably for this very purpose, at scale and into space and beyond. (I do not mean the terminally crippled Etheruem 2.0, Lightning or Solana all of which are not at all capable or ready)
There is nothing holding it back technically. Only politically.
Here's a proposal for you Mr. Musk:
- grasp hold of Dogecoin and get your excellent developer team to fork a new blockchain, adopting the smart contract, immutability, non repudiation, not profitably attackable features
- start the network with a key signing ceremony and genesis block led by a Presidential executive order to garner public interest and go viral (it can be used equally safely for public and private contracts)
- and pass it into law that all funding needs to use these immutable smart contracts, on chain which cannot be defrauded without it all being visible, on chain, in clear text, right in the face of the public with all the evidence required to jail the perp in black and white within that block, forever.
The whole point of the original protocol and keeping it traceable and pseudonymous was exactly so that the state could not defraud the people without it being perfectly visible activity - crooks AND the state can be traced equally! Think of it as a digital 2nd amendment. Caution: this in no way means that the people will suffer through surveillance. Because even that activity will be visible and liable in a court of law with all the evidence in a downloadable public block!
I'm happy to direct it, though there will be better people than me available - I can connect you with them.
Yes, this will challenge the Strategic Bitcoin Reserve of course. But ture patriotic Americans are competitive innovators are we not? So the Treasury can sell their SBR BTC for DogeLaw. And grow the reserve.
Its a remarkable thing that DOGE has not seen this opportunity yet with Dogecoin. For we are the innovators and patriots are we not?
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