blockchain blueprint for a new economy – Bitcoints

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Published on July 21st, 2015 | by bitcoin

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blockchain blueprint for a new economy

Information about blockchain blueprint for a new economy

Block chain (database)

A block chain is a distributed data store that maintains a continuously growing list of data records that are hardened against tampering and revision, even by operators of the data store’s nodes. The most widely known application of a block chain is the public ledger of transactions for cryptocurrencies, such as bitcoin. This record is enforced cryptographically and hosted on machines running the software.
The technology forms the basis of all cryptocurrencies.

Blueprint

A blueprint is a reproduction of a technical drawing, documenting an architecture or an engineering design, using a contact print process on light-sensitive sheets. Introduced in the 19th century, the process allowed rapid and accurate reproduction of documents used in construction and industry. The blue-print process was characterized by light colored lines on a blue background, a negative of the original. The process was unable to reproduce color or shades of grey.
Various base materials have been used for blueprints. Paper was a common choice; for more durable prints linen was sometimes used, but with time, the linen prints would shrink slightly. To combat this problem, printing on imitation vellum and, later, polyester film (Mylar) was implemented.
The process has been largely displaced by the diazo whiteprint process and by large-format xerographic photocopiers, so reproduced drawings are usually called “prints” or just “drawings”.
The term blueprint is also used less formally to refer to any plan.

Economy

An economy (Greek οίκος-household and νέμoμαι – manage) or economic system consists of the production, distribution or trade, and consumption of limited goods and services by different agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. Transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency.
In the past, economic activity was theorized to be bounded by natural resources, labor, and capital. This view ignores the value of technology (automation, accelerator of process, reduction of cost functions), and innovation (new products, services, processes, new markets, expands markets, diversification of markets, niche markets, increases revenue functions), especially that which produces intellectual property.
A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. The largest national economies by continent are: the United States in the Americas, Germany in Europe, Nigeria in Africa, China in Asia and Australia in Oceania.
A market-based economy is where goods and services are produced without obstruction or interference, and exchanged according to demand and supply between participants (economic agents) by barter or a medium of exchange with a credit or debit value accepted within the network, such as a unit of currency and at some free market or market clearing price. Capital and labor can move freely to any area of emerging shortage, signaled by rising price, and thus dynamically and automatically relieve any such threat. Market based economies require transparency on information, such as true prices, to work, and may include various kinds of immaterial production, such as affective labor that describes work carried out that is intended to produce or modify emotional experiences in people, but does not have a tangible, physical product as a result.
A command-based economy is where a central political agent commands what is produced and how it is sold and distributed. Shortages are common problems with a command-based economy, as there is no mechanism to manage the information (prices) about the systems natural supply and demand dynamics.
A green economy is low-carbon, resource efficient, and socially inclusive. In a green economy, growth in income and employment are driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, and prevent the loss of biodiversity and ecosystem services.

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