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daily/2016-12-05.org

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+:PROPERTIES:
+:ID: 83a99349-aae9-4be1-aa81-fa95018bd5c9
+:END:
+#+title: 2016-12-05
+
+* Governance of decentralised infrastructures :academia:UoN:
+:PROPERTIES:
+:CREATED: [2016-12-05 Mon 21:02]
+:MODIFIED: [2016-12-05 Mon 21:02]
+:IMPORTED: [2023-02-08 Wed 19:22]
+:END:
+
+The futility of trying to regulate decentralised infrastructures is
+evident, particularly as the infrastructures become both more secret and
+anonymous, using strong cryptography.
+
+Regulating traditional, centralised infrastructures relied on due process, which is in the final analysis a singularity, a monopoly of power to coerce. Indeed a singularity to break the law.
+
+In decentralised systems based on software, 'code is law'. Trying to
+regulate decentralised domains in the same, traditional way is harmful
+to progress, while also being a distraction away from the type of
+regulation suitable for a decentralised infrastructure. Monopoly on the
+power to coerce, to break the law, is the direction where policing
+should focus. Trying to maintain a monopoly, or at least strong
+advantage, on the power to coercion in traditional domains, can be
+paralleled by trying to maintain a monopoly, or at least a strong
+advantage on breaking code in the new, decentralised domains. While
+being itself subject to regulation, the state should try to stop
+regulated decentralised domains, and focus on being the strongest code
+breaker.
+
+As coloured coins continue to be lost or stolen, while deed holders continue to hold possession of property, smart property contracts will become less relevant in a blockchain and a new blockchain will need to be created (every Sabbath?) Or human overrides, vested in a sovereign or a judge or a jury, will need to be introduced.
+
+Smart contracts move us forward but towards a commerce system that corresponds more to common law contracts than statutes.