“What are we going to learn today, Doctor?” asks sCrypt founder Xiaohui Liu at the start of “Bitcoin Class with Satoshi” Episode 2.
Wright talks again about performing operations on data in matrix graphs, and how applications might handle that data.
Wright discuss how a developer might use Bitcoin Script to set the basic rules on what outcomes/results to verify and feed into Bitcoin transactions—while external applications could store and handle the data itself.
Using the classic Zork as an example of setting conditionals to handle various player actions and decisions, he says it could also apply to situations in the real world where there are various parties who must make agreements, or commit to actions, and then prove they’ve fulfilled them.
This moves on to a discussion of the Semantic Web—a concept that involves categorizing data on the internet using metadata so it can be more readily relatable to each other, and found using natural-language searches.
Wright stresses again that this isn’t the same as full anonymity, but provides a kind of firewall between addresses involved in transactions and their real-life identities—while also providing the means to verify both if required.
But “Bitcoin is not about radical decentralization … it’s about security, privacy, verifiability.” Whether your concern is owning your own data , proving a credential, or just organizing the way business and government operations are performed in a more trusted way, Bitcoin can provide solutions.