Bad news travels slowly, in the cryptocurrency world. Tribalism causes unpleasant facts to be treated as an attack. But if nobody tells the truth, you can’t blame anyone for being confused.
What is Cryptocurrency Game Theory? One of the greatest innovations of the 21st century is, undoubtedly, the advent of cryptocurrency.
What is that makes the blockchain technology such a breakthrough? Let’s look at the real world and how fiat currency is maintained and stored. No matter who you are, your money is going to be stored in a centralized location, i.e. the bank. The problem with this model is that you are giving your money over to an entity and it is at the risk of getting compromised because of a variety of reasons. The blockchain solves this problem by being completely decentralized and corruption free internally. The way it achieves this is by the incorporation of cryptography and game theory.
If you want to speculate, and casinos seem too sedate and controlled to you, then more power to you, jump right in. But for those of us who are interested in the technology, not the money — who think that blockchains are primarily interesting because, unlike most modern technology, they decentralize power — so far this has actually been a mostly disheartening year.
Europe is about to undergo a massive shift in regulation that will fundamentally change the payments landscape. It's also likely to give an unexpected boost to blockchain development.
Let me explain. It all starts with PSD2, a new payments directive due to come into force in early 2018, aims to change the way banks treat data. While that sounds relatively benign, the consequences will be anything but. Under the new rules, banks will have to share client information with licensed third parties if the client asks it to do so.