xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
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The IMF or International Monetary Fund ran a pilot on multi-national coordination to prevent cyber attacks. Although the topic is less relevant to crypto, the practice simulates away with one global leading government to lead a way to accomplish certain goals. This practice may apply to regulate cryptocurrencies too.
Here is a 1 min summary of the article if you want to skip the reading.
Working With 10 Countries
This simulation is really making countries work together at the financial-geopolitical level. Leading by IMF, countries may work together to meet one goal. It is a practice to see how countries can coordinate and work fast when a crisis is happening.
The War Game
The simulation this time is about global hacking which can attack multiple countries and make their financial system out of services. In a scenario of sensitive data leaking into the dark web and triggering the market sell-off, countries of the financial systems can work together to identify the problem while providing liquidity to make sure the financial system will not collapse.
Centralized Solution of the Crisis
Different from a decentralized solution, a centralized organization can shut down the exchange and hold to fix issues before relaunching again.
Decentralized Organization
Despite centralized organization efforts, it will perform differently than what they expect. Centralized organizations can turn around things quickly but they are lack democratizing aspects of consensus. They can resolve issues quickly but with a very short-term aspect. A decentralized organization, on the other hand, can resolve a long-term problem in a consensus way but it requires time to meet consensus.
One Solution Cannot Fix All
Centralized entities want to have one solution to resolve all issues. That is not a way how things work in real life. There cannot be a single solution to resolve all rather having several solutions to fix one problem. Therefore, centralized organizations will not be able to survive in the future.
In Conclusion
I think a decentralized organization structure exists to compete with a centralized organization. I do not think that decentralization will replace centralization but co-exist with them to resolve the same problems.
The IMF or International Monetary Fund ran a pilot on multi-national coordination to prevent cyber attacks. Although the topic is less relevant to crypto, the practice simulates away with one global leading government to lead a way to accomplish certain goals. This practice may apply to regulate cryptocurrencies too.
Here is a 1 min summary of the article if you want to skip the reading.
Working With 10 Countries
This simulation is really making countries work together at the financial-geopolitical level. Leading by IMF, countries may work together to meet one goal. It is a practice to see how countries can coordinate and work fast when a crisis is happening.
The War Game
The simulation this time is about global hacking which can attack multiple countries and make their financial system out of services. In a scenario of sensitive data leaking into the dark web and triggering the market sell-off, countries of the financial systems can work together to identify the problem while providing liquidity to make sure the financial system will not collapse.
Centralized Solution of the Crisis
Different from a decentralized solution, a centralized organization can shut down the exchange and hold to fix issues before relaunching again.
Decentralized Organization
Despite centralized organization efforts, it will perform differently than what they expect. Centralized organizations can turn around things quickly but they are lack democratizing aspects of consensus. They can resolve issues quickly but with a very short-term aspect. A decentralized organization, on the other hand, can resolve a long-term problem in a consensus way but it requires time to meet consensus.
One Solution Cannot Fix All
Centralized entities want to have one solution to resolve all issues. That is not a way how things work in real life. There cannot be a single solution to resolve all rather having several solutions to fix one problem. Therefore, centralized organizations will not be able to survive in the future.
In Conclusion
I think a decentralized organization structure exists to compete with a centralized organization. I do not think that decentralization will replace centralization but co-exist with them to resolve the same problems.
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