Governance through Crowds, Consensus and P2P Networks
This session will continue with our building blocks of crypto infrastructure. Here we will explore governance regimes (protocols) that leverage Crowds, Consensus and Peer to Peer Networks.
@ computational professor daniel martin katz danielmartinkatz.com BLOCKCHAIN, CRYPTOCURRENCY AND LAW professor nelson rosario GOVERNANCE THROUGH CROWDS, CONSENSUS AND P2P NETWORKS nelsonmrosario.com @ nelsonmrosario BLOCKCHAINLAWCLASS.COM
DANIEL MARTIN KATZ E D U | I L L I N O I S T E C H + S TA N F O R D C O D E X B LO G | C O M P U TAT I O N A L L E GA L S T U D I E S . C O M PAG E | DA N I E L M A R T I N K AT Z . C O M C O R P | L E X P R E D I C T. C O M NELSON ROSARIO B LO G | L AWO F C RY P TO C U R R E N C Y. C O M PAG E | N E L S O N M RO S A R I O . C O M F I R M | S M O L I N S K I RO S A R I O L AW P. C . BLOCKCHAINLAWCLASS.COM L A B | T H E L AW L A B . C O M E D U | I L L I N O I S T E C H - C H I C AG O K E N T L AW
THE BUILDING BLOCKS OF BLOCKCHAIN TECHNOLOGY BLOCKCHAINLAWCLASS.COM NETWORKS - ALLOWS US INTERACT / COMMUNICATE LEDGERS - LET US TRACK THINGS CRYPTOGRAPHY - HELPS US SECURE THINGS (*NOTE* NOTHING CAN EVER BE PERFECTLY SECURE)
THE BUILDING BLOCKS OF BLOCKCHAIN TECHNOLOGY BLOCKCHAINLAWCLASS.COM CONSENSUS - METHODOLOGY FOR REACHING A COORDINATED DECISION IN A GROUP DECISION MAKING PROCESS INCENTIVES - MECHANISM(S) FOR ENCOURAGING PARTICULAR FORMS OF PARTICIPATION IN SOCIO- TECHNICAL SYSTEMS
C R O W D S O U R C I N G I D E A I S T H AT T H E R E I S A L AT E N T ‘ W I S D O M O F C R O W D S ’ AVA I L A B L E T H AT M I G H T M ATC H O R E XC E E D T H E ‘ P E R F O R M A N C E ’ ( H O W E V E R D E F I N E D ) O F I N D I V I D UA L D E C I S I O N M A K E R
C R O W D S O U R C I N G G E N E R A L LY R E F E R S TO A P R O C E S S O F AG G R E G AT I O N A N D / O R S E G M E N TAT I O N O F I N F O R M AT I O N S I G N A L S
I N T H E C L A S S I C CO N D O R C E T J U R Y S E T T I N G , M O D E L S TY P I CA L LY U S E P R E D I C T I O N S F R O M A L L PA RT I C I PA N T S
H O W E V E R , M O D E L S CA N A L S O TA K E I N TO ACCO U N T I N F O R M AT I O N ( S I G N A L S ) F R O M S O M E S U B S E T O F PA RT I C I PA N T S ( D E F I N E D U S I N G E I T H E R I N C LU S I O N R U L E S O R E XC LU S I O N R U L E S )
VA R I O U S S I G N A L TY P E S T H E I N P U T S I G N A L S CA N A S S U M E M A N Y D I F F E R E N T F O R M S I N C LU D I N G F R O M M O D E L S O R I N D I V I D UA L S O R S E N S O R S ( O R S O M E CA S E S E V E N OT H E R C R O W D S )
CROWD OF SENSORS Note crowds need not be composed of humans but could be networked IT systems Decentralized Distributed Ledgers -or- Oracles -or- IOT sensors with Crowdsourcing Validation #Blockchain #InternetofThings #Crypto
CRYPTO CROWDS? Sometimes getting even a second opinion in medicine (or any professional service) is very challenging — obtaining a 100th opinion is practically impossible
CRYPTO CROWDS? Among other things Crypto Infrastructure (Blockchain) might provide the mechanism necessary to lower the coordination costs in crowd construction
Random Forest Model Breiman, L.(2001). Random forests. Machine learning, 45(1), 5-32. Grow a set of differentiated trees through bagging and random substrates (predict using a consensus mechanism) C R O W D O F M O D E L S
Poll Aggregation (note not always successful) C R O W D O F M O D E L S Each Poll has a slightly different methodology and historic performance (can be aggregated in various ways )
BLOCKCHAINLAWCLASS.COM PEER-TO-PEER NETWORKS EXAMPLES THE FIRST WAVE OF PEER-TO-PEER APPLICATIONS WERE FOCUSED ON FILE-SHARING NAPSTER BITTORRENT GROKSTER
BLOCKCHAINLAWCLASS.COM PEER-TO-PEER NETWORKS EXAMPLES THE SECOND WAVE OF PEER-TO-PEER APPLICATIONS ARE FOCUSED ON ALL SORTS OF TOPICS FINANCE COMPUTING FILE STORAGE
DANIEL MARTIN KATZ E D U | I L L I N O I S T E C H + S TA N F O R D C O D E X B LO G | C O M P U TAT I O N A L L E GA L S T U D I E S . C O M PAG E | DA N I E L M A R T I N K AT Z . C O M C O R P | L E X P R E D I C T. C O M NELSON ROSARIO B LO G | L AWO F C RY P TO C U R R E N C Y. C O M PAG E | N E L S O N M RO S A R I O . C O M F I R M | S M O L I N S K I RO S A R I O L AW P. C . BLOCKCHAINLAWCLASS.COM L A B | T H E L AW L A B . C O M E D U | I L L I N O I S T E C H - C H I C AG O K E N T L AW
@ computational professor daniel martin katz danielmartinkatz.com BLOCKCHAIN, CRYPTOCURRENCY AND LAW professor nelson rosario nelsonmrosario.com @ nelsonmrosario BLOCKCHAINLAWCLASS.COM GOVERNANCE THROUGH CROWDS, CONSENSUS AND P2P NETWORKS
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