Ed-vise: Crypto Trust

A back in the saddle GOOD MORNING!!! to you all! Yup, back at the work desk making money for the company! Even if we are a “Not For Profit” company. Still making money for the company!

Technically Talkin Tuesday Ed-vise today. Cause it’s TUESDAY…Technically Speaking!

So, I am still on my Crypto journey. Reading more articles about the law and crypto along with books about, well, law and crypto. I’m such a nerd.

As I was reading about Decentralized Autonomous Organizations (DAOs), I realized that a non-technological thing was the issue not really addressed: TRUST.

See, with the decentralized/ tech/ crypto world, there are these situations where two programmers get together and do some programming to make something on the blockchain. They end up letting it be known that they have done this and you can help by supporting the blockchain and earning crypto currency.

Wonderful!

But how do you know these programmers are trustworthy? How do you know the thing they are making is not some program that will end the world? How do you know they won’t just pull the rug out and cash out the crypto currency leaving you holding a bunch of useless tokens? Basically, how can you trust a person you have never met?

That is the situation coming up in the crypto world. A DAO is a whole group of people or funds that have come together to help a couple of strangers build a program in return for crypto currency.

Well, one thing you can do is read the code being made. In the blockchain world, you have free access to the code. Everyone does. Open in it up read it. Believe me when I tell you that code, anymore, is not like it was “Back in My Day.”

Back then, I programmed on a Commodore 64. Long series of numbers. Number, after number after number. Fast forward to today, and you can almost, simply write sentences about what you want the computer to do. Literally. I watched a video on Youtube that showed how to program and it was just that, a bunch of half sentences to create a program. Crazy.

If you cannot read code, then, I will bet you dollars to donuts you know someone who can. They might not look it, but they can. I met a couple this weekend who do Ju Jitsu.

That’s one way to build trust.

The other is to actually meet the programmers. A bit harder to meet in person. But, a phone call or video call might help. I tell you this: if they won’t talk to you, DO NOT DO BUSINESS WITH THEM! Why? Because, first, it’s rude. Second, not talking to people that are giving them money…yeah…that’s bad business.

I’m just saying

That’s it for today. Take care of yourselves. Check in on each other and remember the thing with five toes and is not your foot…IS MY FOOT! HAHAHAHAHAHHAHA

Peace

Published by edhlaw

Son, husband, father, uncle, nephew, cousin

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