The imaginative and prescient for the way forward for the web—Craig Wright joins ETSI panel

On September 1, Dr. Craig Wright joined a panel of experts to speak about IPv6, Bitcoin, and the way forward for the web.

Dr. Wright joined Professor Latif Ladid, Pascal Thubert from Cisco, Thomas Graf from Swisscom, and Jean-Charles Bisecco from the French IPv6 Activity Power. Watch the webinar here.

Latif Ladid opens the webinar

Ladid opens the dialog with a short overview of the place IPv6 is at present and the place it would go sooner or later. He says that, as of proper now, 2.5 billion individuals use IPv6. Globally the know-how has 40% penetration, with some international locations like China and India far out within the lead with 67% and 70% penetration, respectively.

Ladid notes that governments all over the world are pushing for IPv6 adoption. He says that once we attain 80% penetration globally, IPv4 can be deserted. This can remodel industries, together with the Web of Issues (IoT), cloud computing, and plenty of others.

He invitations Dr. Craig Wright, Bitcoin’s inventor, to discuss the way it can play a task on this new world.

IPv6 and Bitcoin are symbiotic

Dr. Wright begins his part of the webinar by stating that Bitcoin was designed to work with IPv6. He says the protocol was a “key, integral a part of Bitcoin” and that IPv6 is crucial to the way forward for any blockchain.

Nonetheless, those that didn’t perceive Bitcoin stripped out lots of its authentic options, deeming them as safety threats as a result of they didn’t comprehend the grander imaginative and prescient and what it was designed for. Fortunately, the unique Bitcoin protocol with all its capabilities has been restored as BSV.

A completely peer-to-peer system

The title of the Bitcoin white paper describes it as a ‘peer-to-peer digital money system.’ Dr. Wright elaborates on the character of peer-to-peer transactions. He says {that a} true P2P system can solely be achieved IP to IP over a distributed system. There must be no hops or nodes. Alice ought to transact or talk with Bob immediately in such a system.

“The character of peer-to-peer is direct connectivity,” Dr. Wright says. He factors out how this radically modifications how the web works. Whereas proper now, the shoppers of varied web companies are the product, due to the information harvesting and ad-based mannequin it’s based mostly on, micropayments usher in a brand new world the place direct interactions are potential. It’s this, Dr. Wright says, that can allow the IoT and rather more.

Hinting at Bitcoin’s true scaling potential, Dr. Wright explains that due to fee channels, it’s potential to have hundreds of thousands of peer transactions for a fraction of a penny. Utilizing them, people can resolve for themselves what info they should share for the needs of the transaction (e.g., supply addresses, KYC/AML information, and many others.)

How Bitcoin can revolutionize many industries

Talking about how Bitcoin can revolutionize safety first, Dr. Wright factors out that peer-to-peer transactions eradicate issues like man-in-the-middle assaults.

Moreover, the immutable Bitcoin ledger can permit merchandise with RFID tags to be tracked and traced globally. This has big implications for issues like theft, lack of items, verification of authenticity, finding the place one thing is in a supply chain, and rather more.

This type of world was outlined by Dr. Wright way back to 2014 when he was interviewed in The Bitcoin Doco. Clearly, he understood Bitcoin’s potential to revolutionize all the pieces from the outset and has been persistently saying the identical issues ever since.

Dr. Wright outlines some potential modifications Bitcoin and IPv6 working in tandem might usher in. He mentions sooner gadget interplay, automated contracts, distributed information storage and validation, key administration, contractual options like licensing, higher audits, entry management, and automatic funds as a few of the issues this know-how can facilitate.

An thrilling new world with IPv6 and Bitcoin

Whereas Dr. Wright’s presentation on this specific webinar was quick and candy, it hit on the important thing themes which might be essential in understanding the place this know-how is headed.

Bitcoin and IPv6 have been made for one another, they usually have what Dr. Wright has beforehand described as a “symbiotic relationship,” complementing one another. Bitcoin’s micropayments permit many potential use circumstances of IPv6 to develop into commercially viable, and IPv6 facilitates the peer-to-peer nature of Bitcoin transactions.

Ultimately, a world of billions of sensible units can be a actuality, at all times linked and operating on the world’s solely scalable utility blockchain. This has profound implications for nearly each business, and people considering forward are already making ready for a way the world will look within the coming years and many years.

To study extra about how Bitcoin and IPv6 work collectively, take a look at the next sources:

1. The start of Metanet by Dr. Craig Wright.


2. How Bitcoin and IPv6 were made for each other by Jon Southurst.

Watch: Latif Ladid’s keynote speech: IPv6-Primarily based 5G/6g, IoT and Blockchain

New to Bitcoin? Take a look at CoinGeek’s Bitcoin for Beginners part, the last word useful resource information to study extra about Bitcoin—as initially envisioned by Satoshi Nakamoto—and blockchain.