ZUG, Switzerland, September 12, 2022 (Newswire.com) - nChain's Chief Scientist, Dr Craig S Wright, gave a TEDx talk with TEDxCanandaiguaStudio on decentralisation that last Friday has been released to the public. In his talk, Dr Wright explained the role of decentralisation in Bitcoin and in wider society and discussed how nChain is supporting blockchain innovation.
Dr Wright explained that when it comes to blockchain, the idea goes beyond the technology. Code is not law, he argued, but people are always at the heart of politics. "In Bitcoin, decentralisation is not just about nodes. Nodes index, and record information. But decentralisation is about people: individuals trading and exchanging value, peer-to-peer. My invention allows the direct exchange between people so that one person can go directly to another."
The talk is available from the TEDx YouTube channel here.
Shifting the balance of power to individuals
In his TEDx presentation, he clarified the misconception that decentralisation means blockchain is 'democratic' in a way that is regulatory unfriendly or anti-government. Rules and boundaries, Dr Wright said, are key to any functioning industry—including the original vision for Bitcoin. In fact, blockchain can play a part in building a more innovative society, shifting the balance of power, such as from Silicon Valley to individuals that can own their own data and play a more empowered role in the internet of the future. It isn't "censorship-resistant money, but censorship-resistant information," as Dr Wright said.
Decentralisation that encourages innovation
This vision of decentralisation also touches on how nChain is supporting start-ups and innovation, as Dr Wright outlined: "We want to see lots of smaller entities trying things, experimenting, and innovating. Where we have innovation, we have growth. I am pleased to see so many firms taking advantage of what we have been researching and developing at nChain. This aligns with decentralisation. We have foundational intellectual property that will benefit anyone looking to build blockchain or internet of value solutions."
Why start-ups should join the IPwe Blockchain Smart Pool
nChain is the first founder of the IPwe Blockchain Smart Pool, announced in March 2022, allowing businesses to access and obtain freedom to operate and the right to build on nChain's 1,250 blockchain patents and patent applications. Membership is free for start-ups and small- and medium-sized companies with under $1 million in revenue, and the tiered pricing remains competitive for even the largest enterprises.
Over 160 members have signed up already, and additional Founders are expected to join soon, expanding the robust portfolio of intellectual property available to anyone building blockchain-based tools and solutions.
nChain is a global blockchain technology company and recently voted one of the Top 100 most innovative firms in the world. We offer software, consulting services and IP licensing for clients in various industries looking to benefit from the security and scalability of the blockchain. Our mission is to secure the internet of value. Founded in 2015, nChain employs more than 250 staff, holds over 400 patents and is the developer of the Bitcoin SV Node software, Teranode, LiteClient and more.
Director, Communications & Corporate Development