A Quote by Patrick M. Byrne
With the block chain, for the first time, we no longer need these central institutions for settlement or for guaranteeing the value of coins or for land titling. All of these functions can be replaced by a transparent public ledger that is safe from tampering and which can make value and ownership clear and open for everyone.
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I think the best projects understand that they don't need to invent a new currency. They don't need to use the block chain as their long-term data storage solution. And they don't need to use the peer-to-peer network as their communication mechanism. They should use the block chain as the world's most secure distributed ledger.
Why precisely do we want to change land ownership? The answer seems to me to be quite clear: to inhibit land speculation, to inhibit the private exploitation of the scarcity-value of land, to inhibit as we might say the cornering of land.
If you start from the farm sector, we need much better investments and capital creation on land. We need logistics support; we need cold chain and processing capability. We need proper pricing at various stages to ensure that the producers are not left out in the value-chain.
On the blockchain, you have a public ledger, which is the form of ownership. That means you are not doing net settlement - just netting everything down, which means that everything has been turned into fungible numbers.
This is where the block chain is most useful and revolutionary: It helps us to overcome the problem of mutual trust in exchange, which will, in turn, make many of our modern central institutions unnecessary.
It is inconceivable to me that an ethical relation to land can exist without love, respect, and admiration for land, and a high regard for its value. By value, I of course mean something far broader than mere economic value; I mean value in the philosophical sense.
It's time to put back on the agenda the importance of public ownership and public good, the value of working together collaboratively, not in competition.
Our Soviet society is socialist because private ownership of factories, plants, land, banks and means of transportation has been abolished in our country, and replaced by public ownership.
Despite popular belief, Bitcoin is a bad medium of exchange for people that value financial privacy because of the transparent ledger that reveals an address, timestamp, and amount for every transaction on the network.
The end-to-end value chain analysis proposed by the World Economic Forum has proved to be useful methodology, not only to identify trade barriers but also to highlight the importance of coordination among public-sector institutions.
I'm most excited about all of the non-currency uses of the block chain's ledger-ordering ability. I have no idea which ones will turn out to be successful, but I'm glad all of that experimenting is happening.
When we look at government in Washington or what's happening on Wall Street, we see so much centralization. But really, our goals should be to eliminate and overcome these central institutions. And in recent years we have gained powerful new tools to do this, and most significant among those is the block chain, which is the software behind Bitcoin.
A fellow will hack half a year at a block of marble to make something in stone that hardly resembles a man. The value of statuary is owing to its difficulty. You would not value the finest head cut upon a carrot.
Of God's love we can say two things: it is poured out universally for everyone from the Pope to the loneliest wino on the planet; and secondly, God's love doesn't seek value, it creates value. It is not because we have value that we are loved, but because we are loved that we have value. Our value is a gift, not an achievement.
Notions of property, value, ownership, and the nature of wealth itself are changing more fundamentally than at any time since the Sumerians first poked cuneiform into wet clay and called it stored grain ... few people are aware of the enormity of this shift and fewer of them are lawyers or public officials.
A Land Valuation Tax is a levy on the value of the land unimproved by buildings or other enhancement. The method is already used by insurance companies each year when they calculate your home insurance premium - they separate the cost of a total rebuild of the property from the value of the land itself.
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