Craig Wright Talks Bitcoin in Oman: Consider What Transparency Really Means

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Bitcoin has the power to create world-class local industries, transform cybersecurity and build a more honest system, said Dr. Craig S. Wright. Speaking on a panel at the Global Forum/Shaping the Future event in Muscat, Oman, in October 2022, he described how Bitcoin could spur positive activity through transparency and accountability.

Also in attendance were Fatma Al Mukhaini, President, Robotic Process Automation Developer, PDO Oman; Professor Latif Ladid, IPv6 Forum Chair, University of Luxembourg; Daniele Tumietto, Adjunct Professor, Politecnico de Milano, Italy; and Halah Al Zadjali, Senior Governance, Policy and Governance Officer, MTCIT Oman.

New ways to build global industries and stay local

“We finally found out who the mysterious character named Satoshi Nakamoto is,” said moderator Michael Stankosky. He added that he had previously met (www inventor) Sir Tim Berners-Lee and had been a member of his advisory board. He noted the feeling “when you meet people like Craig who are also inventors, changing the way we do everything.”

Dr. Wright’s presentation was titled “Bitcoin, IPv6, and the Future of the Internet,” although he spoke more generally about what Bitcoin is, what it isn’t, and a few some of the efficiencies it could bring to money, global trade, and cybersecurity. .

“In reality, we are talking about a system designed to eliminate all money transfer problems. It’s not anarchy, it’s not anti-banking, and it’s not anti-government.”

He told the audience that Bitcoin could transform business by allowing people to keep industries where they come from rather than putting all their effort into relocating. They could build companies without the end goal of selling them to Facebook or “consolidating everything into a small group of companies in Silicon Valley.” Bitcoin enables new ways to monetize business, using micropayments to move away from the current model of selling internet advertisements.

Bitcoin creates new ways of doing things, such as new incentives to sponsor and “own” ecological projects and humanitarian activities, he said.

He also reiterated that Bitcoin is a transparent system designed to fight crime and corruption no matter who has attempted it, be it hackers, drug traffickers, terrorists or dishonest governments. On the Bitcoin blockchain, transaction logs are impossible to delete, taking investigators back to a time when they used human intelligence and connection tracking rather than mass surveillance.

“It allows privacy, but the blockchain is not encrypted. It is publicly verifiable by every person on Earth. This should scare the bejeebus of any dishonest government.

Cybersecurity and IPv6

Moving on to cybersecurity, he mentioned the name of the Bitcoin SV (BSV) blockchain project Certihash, describing how it logs on-chain computer system events, sends alerts on any abnormal activity, and keeps records of all attempts. of access. This saves data breach investigators months of work trying to figure out what’s going on, which is a major drag on the digital economy today.

Integrating all of this with IPv6 “means radically rethinking everything we do on the internet,” he said, referring to past incidents that have seen events spread from compromised digital certificate providers who compromised everyone who used them, “virtually everyone on Earth”.

Bitcoin could usher in a new era of honesty. “I want you to think about what transparency really means,” Dr. Wright said. “Do you want to be stewards of your people, or do you want to keep them in the dark?”

Professor Latid Ladid, President of the IPv6 Forum, continued the topic of Internet Protocol. He compared unique IPv6 addresses to phone numbers, saying that in the 1960s not everyone had a phone number, but nowadays it would be unusual not to have a unique one. You need to have your own internet address to have any power, he said, pointing out that internet users today follow security rules and practices dictated by other providers.

He also noted the benefits of IPv6 for blockchain and gaming, and took stock of which countries were doing best with IPv6 deployment. Asian countries like Japan, Malaysia, India and Thailand have made great strides, as have Saudi Arabia and the United Arab Emirates. Countries like France have accelerated the adoption of IPv6 using programs such as licensing 5G only to those working with the new protocol.

The roundtable was part of the Global Forum event called “the international think tank on the digital future” and “the Davos of ICT”. The 2022 event took place in Oman, the first time it has been held in the Middle East. Oman’s “Vision 2040” initiative aims to capitalize on digitization technologies and make the country a test bed for new technologies in many sectors through infrastructure and investment incentives.

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New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about the Bitcoinas originally envisioned by Satoshi Nakamoto and blockchain.

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