Cheaters Can’t Cheat: Fairness Protocol Explained [The value in bitcoin, ethereum, open blockchains]
What is really unique and valuable about bitcoin or ethereum? It’s more than monetary policy. More than smart contracts. In this video, Andreas explains what he calls, “The Fairness Protocol”, using a story from his childhood of his cousins, a bowl of french fries, and the dilemma of how to fairly split the food between two hungry boys. Watch this video to understand how open blockchains, like bitcoin, have value – in a whole new way, the fairness protocol.
0:00 Wait, haven’t bitcoin, ethereum, and open blockchains already won? The industry is booming!
0:51 Stop celebrating the moneyed interests, start remembering why we’re doing this.
1:51 We care about achieving certain goals. Decentralization isn’t the goal.
2:19 The goal is fairness. How do we get to a fair society?
2:54 Decentralization, consensus algorithms, blockchains are ways to achieve fairness, in a new way.
3:24 Fighting over chips: the story of my aunt, 2 cousins, and 1 bowl of french fries
6:05 The game of split and choose, incentives and disincentives for good behavior
7:22 The fairness protocol explained
8:50 We’ve moved from dictators to institutions to self-enforcing systems to achieve fairness through a fairness protocol
9:18 We’re using tools like digital signatures, hashes, zero knowledge proofs, to create games. Fairness protocol games
10:23 It’s not about the monetary policy of 21 million bitcoin, or smart contract execution, or DApps, or blockchain improvements, it’s about delivering fairness, at scale, without intermediaries
11:18 Enforcement is included, by design, in fairness protocols
11:48 We have a pattern, a system, that allows fair outcomes without violence or an intermediary to enforce things
13:15 Examples of fairness protocol games in bitcoin, ethereum, lighting network, atomic swaps, smart contracts
14:15 Moneyed interests, do not see or value the fairness protocol, they want to make money
15:36 Stop applauding. They will abandon the fairness protocols they don’t understand
16:31 They will try to reintroduce the aunt. Because that’s what they know
18:32 Why do we need to build and maintain fairness protocols?
21:50 We built this system because other systems for achieving fairness have failed us. Repeatedly.
Andreas delivered this talk to a “live” audience (via Zoom) at the Latin American Bitcoin Conference 2020, better known as LABitConf in December 2020. This event and its organizers hail from Argentina, which is why Andreas specifically references Argentina and spanish-speaking countries in the talk. Andreas has participated in almost every LABitConf since 2013 with just a few exceptions. He enjoys talking with people from Latin America about bitcoin and open blockchains, because they already know why the world needs these technologies. They want to understand how to use them.
Rules Without Rulers: https://youtu.be/gq-t7Ky6QmE
White Markets, Black Markets (LABitConf 2018 talk): https://youtu.be/ffmu6t7PtO0
Becoming a Bitcoin Educator (LABitConf fireside chat): https://youtu.be/0CLJdfMgKhI
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Thanks for watching!
#bitcoin #fairnessprotocol #andreas