Block-medium 101

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Block-medium is arun arya competition to private-Block-chain which is ordinary blockchain with strong anti-spy guarantee. What is a blockchain is well expressed in this wired, or this video. (video link works but slow). Point is that bit coin, where blockchain started, was designed to grow in wild, despite any damage from hackers by cryptography and executive thugs by contention. Block medium retains protection from hackers through cryptography, but not executive thugs, handled by regulations and law. This has many massive benefits

1.       Ability to prevent block-medium applications from venturing into forbidden areas like porn and drugs

2.       An ability to tax transactions. So important is this idea given the synergy to robotics, decentralization and quantum mechanics, each science whose progress will cause waves of unemployment; that I propose gradual elimination of all other taxes and their replacement by block-medium transaction tax!

Every blockchain crypto currency has two phases to incentivize the miners and grow the project, slowly inflating the currency pool. Miners derive their income from mining new currency by statistically fair contention It is this phase fully replaced in block medium by legal fiat. After a crypto-currency has reached maximal inflation, the miners will still operate on transaction commission. That is enough from day 1! 

Legal construction creates an initial supply, inflated through some parliament, best constrained by some principle in the constitution that limits the inflation to some factor of consumer prices, say 1.03. Parliament can expand less or change the constitution!

Clearly, I model politicians as very intelligent ethical operators that are forced into weird positions by the requirements of their constituents and constitution provides the ultimate fig leaf to do unpopular things. Ultimately, all issues  reduce to money and budgeting, thus providing total fig leaf.

Is block-medium the future and not blockchain? Guess who are rushing to build their own blockchain? Every very big corporation! Those, like governments, are the big target of blockchain in the first place! Fortunately, enough idiot executive still do not see the cruciality of private blockchain!

My own politics is still unsure. Except it is unsettled Libertarian – fiscally conservative like Modiji, socially liberal like Tharoorji, anti-experience like in USA, history means irrelevant!