This series is intended to provide an update to one of the issues identified with blockchains and cryptocurrencies in the article series titled “The Ideal Digital Currency.” There has been significant progress made in addressing most of the issues raised in that series. In this first part, we examine the role the governing structure behind a cryptocurrency or blockchain plays in its development, sustenance, and ultimately scaling of the blockchain.

Who Really Owns Your Money?

The issuer of your currency has a significant impact over the money you own that is denominated in that currency. This becomes more obvious if for instance, the issuer suddenly…


Decentralization of processing responsibility has been demonstrated to be effective in significantly fortifying blockchains and the infrastructural networks on which they operate from being compromised. The redundant duplicated processing and data storage on blockchain networks contribute in making them difficult to compromise [1–3]. This is due to the fact that an adversary of the network would potentially need to compromise a significant number of the nodes in the network to compromise the network as a whole. …


In 2017, I wrote a seven part series titled the “Ideal Digital Currency” highlighting seven important unsolved issues with cryptocurrencies that needs to be solved before they can gain mass adoption. The third part of the series focused on scalability. Public decentralized cryptographically enabled digital currencies can currently not handle sufficient number of transactions per second for them to be used on a global scale of the type Visa or Mastercard currently handle. While the Visa network can handle over 40,000 transactions per seconds (tps), the Bitcoin network can only handle about 7 tps. The Ethereum network is slightly faster…


I recently bought and read this book, whose author happens also to be my brother. It had been recommended to me a few weeks earlier. But it was during a time I was deep in so many projects that I did not have enough left to fully read through it. But I eventually did during this Easter weekend. And I found it very inspiring.

The book goes through the strategies several individuals employed in their lives to attain their success goals. While it was inspirational on the abstract level, it was also inspirational from a more spiritual standpoint. This review will be short so as not to attempt to provide a poor substitute for reading the book. It is available on Amazon at the link below:

https://www.amazon.com/gp/product/197361314X/ref=oh_aui_detailpage_o00_s00?ie=UTF8&psc=1


In a prior forward-looking seven-part series, we looked at what an ideal cryptographically-enabled digital currency of the future would look like. Since that series we are already seeing some of the characteristics discussed in those articles embedded in some of the projects currently in development. In the current article we look ahead to 2018, to see can may be expected, in terms of the potential progress made in solving some of the outstanding issues that limit cryptocurrency adoption.

Scaling will Continue to be an Issue for Decentralized Blockchains for Much of 2018

Blockchains do not scale by their very nature…


In a previous article, it was demonstrated that the growth in value of several top cryptocurrency assets could be modeled by an S curve or exponential, driven mostly by adoption. (The complete peer reviewed paper is available here.) The model derived in the study utilized Metcalfe’s law as well as a newly proposed network effects law. The models showed the growth to be correlated to the growth in the number unique addresses used daily on the network; data that is easily extracted from the blockchain. …


This recently completed series looked at some of the less superficial news and developments related to blockchains, and specifically digital currencies. Here is the intro to the entire series.

We are currently at the early stages of blockchain technology use. And just like the early days of the Internet, there are lots of changes and developments ahead. But already there are some key certainties and observations that can be made.

The first is that blockchain technology is here to stay. And not only to stay but it will likely flourish significantly in the next few years. It’s easy to imagine…


This is part of a series looking at issues that need to be solved in the next few months and years for digital currencies to grow to reasonable size compared to the tiny segment of the global economic system that they currently occupy. Earlier in this series we looked at the need for realistic mathematically determined supply mechanism rather than a hard limit or fixed deflationary supply common in most current digital currencies. We also looked at the possible role a decentralized, well formulated reserve system would play in maintaining confidence in the currency and reducing volatility. We have also…


This is part of a series looking at issues that need to be solved in the next few months and years for digital currencies to grow to reasonable size compared to the tiny segment of the global economic system that they currently occupy. At the start, the development of cryptographically enabled digital currencies was based on a decentralized model as well as a repudiation of the non deterministic and opaque minting practices of fiat currency. Early adopters also gravitated to this new currency to avoid some of the rules and regulations binding financial transactions denominated in fiat currencies. For digital…


This is the first article in a series on breakout applications of blockchain technology. Cryptocurrencies were the first major application of cryptography enabled value storage and transfer, of which blockchains are at the core. There will be other breakout applications following this. Decentralized credit management and credit scoring will be a major disruptive one. And the seeds are already being sown.

The Importance of Credit

There is one most valuable resource that belongs to every person. That resource is time. The time resource is what every person converts into every other thing of value. This conversion is sometimes done in…

Ken Alabs

Ph.D Engineering, Stony Brook, M.Sc Computer Aided Engineering, University of Strathclyde, PMP. IT professional, programmer, researcher.

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