Blockchain DXB

Blockchain DXB & Society X Live Session

Topic: Double Spending + Pillars of Open Blockchain + Blockchain Trillema and its Implications, followed by a Weekly Cryptocurrency and Blockchain World recap.

Speakers: George (RA George) and Markose Chentittha

Date & Time: [Date], 10:00 am GST

1. Understanding Double Spending:

   • Definition and implications in digital currencies.
   • How Satoshi Nakamoto addressed double spending using cryptography, hashing algorithms, and mathematics.

2. Innovations by Satoshi Nakamoto:

   • Did Satoshi invent new technology or build on existing concepts?

3. Double Spending in Various Systems:

   • Potential for double spending in permissioned blockchains, CBDCs, and stablecoins.
   • The ability to freeze accounts and its impact on security.

4. Pillars of Open Blockchain:

   • Open-source: Accessibility of the code and whether centralized entities like Facebook and Twitter can adopt open-source practices.
   • Dangers of open-source: Security and terrorism threats, geolocation issues, and code amendments.

5. Permissionless Systems:

   • Lack of KYC/AML and opting for these measures.
   • Tokenization and borderless nature compared to restricted systems like CBDCs and permissioned blockchains.

6. Censorship Resistance:

   • Can miners censor transactions?
   • The process of validating transactions and the implications for privacy.

7. Neutrality and Comparisons:

   • The value of neutrality in countries like India, UAE, and Zimbabwe.
   • Comparisons with banking: Longer processes, extra KYC, additional fees, and documentation.

8. Public Verification:

   • The potential for CBDCs to offer public verifiability, but concerns over manipulation.

9. Blockchain Trilemma:

   • Balancing scalability, decentralization, and security.

• Ethereum Spot Trading Goes Live:

  • Current downturn in the crypto market.
  • Recent large-scale transactions by Mt Gox and Grayscale and their market impact.
  • Speculations about buying Solana.

• Stablecoin Developments:

  • New stablecoins pegged to the Hong Kong dollar and South African Rand.
  • Anticipation of UAE's AED-backed stablecoins.
  • Discussion on whether stablecoins are superior to fiat currencies.

• Crypto Market Insights:

  • DeFi spike in the UAE.
  • Stablecoin volumes were showing improvement but are still below 2020 levels.
  • Consistent trends from DEX to CEX.

• Decentralized Apps (DApps):

  • Metrics for evaluation: $$$ value versus wallet interactions.
  • Comparisons with platforms like Tinder, Instagram, and Messenger in terms of ad revenue.

Society X Updates:

Blockchain DXB Updates: -

• Upcoming podcast episode on Payment Token Regulations.