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From YouTube: Invisible BlockChain and Plasticity of Money
Description
Adam Smith Meets Darwin to Buy Crypto Currency - Zeeshan-ul-hassan Usmani, Misk Foundation
This talk will compare evolution in nature (based on Darwin's theory of evolution by natural selection), with similar processes happening in money, especially in the current iteration of money (cryptocurrencies), and the underlying BlockChain technology. The session will review the history and evolution of money up to this point, shortly explain Darwin's theory of evolution by natural selection, compare the similarities between evolution by natural selection in nature with evolution in BlockChain technology and cryptocurrencies, and will examine the potential paths for the BlockChain technology and cryptocurrencies to evolve in the future. The session will ask and facilitate the participants to come up with their own theory and practical example of blockchain of the future following Darwin's theory of evolution.
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A
Hello,
everyone,
so
my
name
is
the
Shah
knows
money.
This
is
my
work
on
cryptocurrency
and
they
are
doing
evolution.
I
only
have
10
minutes,
so
I'll
go
through
the
basic
concepts
that
we
are
working
on.
So
money
is
evolving.
You
know
from
salt
mines
from
rice
drones
to
the
clay
tablets
to
the
golden
coins
to
the
security
shoes
borne
by
the
government
and
so
in
base
currency.
So
if
we
see
the
last
2000
years
of
money,
this
revolution
money,
it's
always
evolving,
but
contrary
to
biological
descent
of
evolution,
it
always
evolves
in
big
jumps.
A
So
you
have
salt
and
automatically
insulin.
Then
you
know
you,
you
get
a
gold
and
then
from
gold
you
got
a
paper
currency,
so
it's
not
a
very,
very
great
increase
of
evolution.
So
there's
a
difference.
The
evil
connected
world
of
today's
is
now
at
a
point
where
it's
asking
for
another
currency,
all
of
the
basic
required
ingredients
at
what
supportive
for
support
for
Fiat
are
quite
quite
working
against
it
and
we
will
see
how
it's
happening.
So
let
me
start
with
a
mystery
of
one-eyed
King.
A
We
all
heard
this
story
in
our
childhood
that
there
is
a
town
of
blind
people
and
there
is
a
king
who
has
one
eye.
So
why
was
a
king
because
he
was
the
best
to
survive
to
navigate
his
business
and
he,
since
he's
going
to
survive,
he's
more
able
to
likely
to
pass
this
to
the
his
offsprings
and
then
that
gene
becomes
the
king,
so
that
particular
trade
is
guaranteeing
his
success
and
survival.
A
So
emulation
is
generally,
is
the
change
in
the
characteristics
of
a
species
over
several
generations
and
relies
on
the
process
of
natural
selection
and
we'll
talk
about
what
natural
selection
is.
But
one
problem
with
evolution
is:
whenever
we
talk
about
evolution,
we
always
think
of
better
there's.
No
true
evolution
is
agnostic
to
progress.
It
is
quite
blind,
so
it's
only
optimizing
you
for
the
environment,
you
are
living
in.
It
can
be
good.
It
can
be
bad.
A
It
can
be
good
now
it
can
be
bad
ten
years
later,
so
natural
selection
is
a
process
by
which
specific
traits
become
more
or
less
common
in
population
over
time
result
of
the
relative
success
or
failures.
So
we'll
talk
about
variations,
this
is
more
of
undirected
in
blind.
It's
just
mutation
happens,
something
got
changed.
We
are
not
not
sure
it's
good
or
bad,
or
what
it's
quite
undirected
inheritance
on
the
other
end
is
quite
directed.
A
You
get
the
best
genes
that
help
you
survive
in
the
environment,
from
your
parents,
so
natural
selection
is
equals
to
Adam
Smith's
invisible
hand,
that's
directing
the
direction,
because
if
you
are
not
getting
the
good
genes,
you
are
not
going
to
survive
in
the
future
and
you
are
going
to
die
off
in
due
time.
So
this
is
the
what
invisible
hand
is
working
in
financial
sector
as
well.
When
we
talk
about
survival
of
the
fittest
and
blockchain,
one
of
the
problems
I
have
is
people
says:
ok,
that's
the
first
in
trend.
A
They
comes
first,
so
this
guarantees
for
their
survival
and
that's
the
idea
sounds
pretty
cool.
So,
but
this
idea
sounds
pretty
cool
and
the
first
inference
cannot
be
the
guarantee
for
survival
right
now.
Whenever
we
talk
about
cryptocurrency
is
the
only
thing
that
we
consider
is
the
market
capital,
capitalization,
Bitcoin
versus
ethereum
versus
malaria
or
daesh,
and
everything
else
strength
is
not
always.
The
determining
factor
for
your
survival
sometimes
is
work
against
you.
So
for
exactly
the
examples
of
blockbusters,
Toys,
R,
Us
and
RadioShack,
they
were
very
you
know,
Giants
what
happened?
A
They
cannot
adapt
to
the
environment
and
they
vanish
away
Bitcoin
by
the
way
has
been
forecasted
to
fail
236
times
and
it's
it's
a
link
so
chain
is
the
internal
clock
of
this
ten
minutes.
I
call
it
the
their
own
own
system
of
creation,
while
the
get
up
community
is
equals
to
our
immune
system.
So,
whatever
happening
in
you
know,
viruses
and
disease
is
supporting.
Us
is
killing
those
viruses
and
it
making
sure
that
whole
species
cryptocurrency
is
a
swishy
would
survive
some
species
when
they
divide
into
groups
they
have
a
better
chance
of
survival.
A
So,
for
example,
Darwin's
finches,
they're,
different
kind
of
Peaks,
so
like
10
different
finches
have
ten
different
kind
of
beats
peaks
and
let's
make
them
go
to
survival.
Some
other
species
might
go,
isolate
eight
spread
thin
and
die.
So,
for
example,
if
we
have
a
Bitcoin
or
chain
Network-
and
we
divide
it
to
tell
folks
and
every
single
chain
will
get
one-tenth
of
the
heating
power
they
are
vulnerable
to
attacks.
So
this
is
the
concept
of
genetic
camera
that
we
have
in
as
well
so
environment.
A
We
need
to
be
considered
environment,
it's
very,
very
crucial
for
this.
It
plays
a
very
important
role.
So
when
you
will
talk
about
the
main
nature,
we
always
talk
about
the
environment.
So
where
are
you
from
so,
for
example,
you
know
I
say
my
age
is
40
years
old.
So
where
are
you
from
if
I'm
from
Japan
yeah,
that's
quite
ordinary?
A
If
I'm
from
Somalia
man,
that's
extraordinary,
their
average
is
39
years
of
age,
so
always
depends
where
you
live
in
or
what,
where
you
eat,
where
you
do,
your
business
and
money
equals
to
like
biology
is
a
historical
science.
You
always
need
to
have
roles
participate.
Who
is
doing
what
with
setting
what?
What
are
the
interest
rates
and
everything
else?
So
if
you
remove
that
environment
from
the
money,
it
doesn't
make
much
sense.
After
all,
when
we
talk
about
blockchain
environment,
it's
the
government,
it's
the
company's
corporates,
the
miners,
the
participants.
A
So
when
we
talk
about
evolution,
we
need
to
consider
everyone's
role.
All
of
these
stakeholders
to
create
that
environment
adaption
is
simply
the
ability
to
change.
Sometimes,
especially,
is
ability
to
remain
unchanged,
is
what
required
for
their
survival
and
for
their
growth.
So
whenever
I
talk
about
evolution,
we
always
talk
about
change.
Sometimes
we
need
to
resist
segment
two
or
something
like
that
that
you
know
we
cannot
change.
This
is
the
right
environment.
A
Now,
in
the
nature,
something
very
strange
happens:
we
call
them
ecosystem
engineers,
so
we
have
large
Bisons.
They
go
roam
around
the
earth.
They
do
a
lot
of
damage,
but
that's
damage
is
very,
very
good
for
small
animals
for
weeds
for
plants,
beavers
make
the
bridge
and
that
bridge
may
makes
possible
for
other
small
species
to
survive.
We
have
the
woodpeckers
they
make
the
holes
in
the
trees
and
that
holes
being
used
by
other
animals.
So
in
the
nature
we
have
this
interconnected
species.
A
They
are
supporting
each
other
when
it
comes
to
food
chain
when
it
comes
to
shelter
when
it
comes
to
survival,
so
make
increasing
the
survival
of
other
species
because
of
one
species
we
are
working
on
those
ones.
When
we
can
talk
to
the
inter
bility,
when
bitcoin's
network
can
talk
to
you,
3d
mp3
I'm,
going
to
talk
to
some
other
block
chains
at
mix
web
is
one
one
work
in
this
direction.
A
So
what
are
the
traits
and
features?
If
you
talk
about
the
Bitcoin
blockchain
DNA
that
we
like
to
see
in
the
in
the
whole
system's
clearly
verifiable,
simple,
you
know:
money
creates
fungible,
portable
divisible,
scars
censorship,
resistant,
one
might
say
and
programmable
why
we
need
programmable
premiered
in
money
money
so
far.
History
historically,
is
a
very,
very
dumb
construct.
I
give
this
500
franc
to
somebody.
Money
doesn't
know
where
I'm
spending
it
I.
Can
we
use
it
for
pornography
for
child
abuse,
for
sex
trafficking?
A
Anything
else
money
doesn't
know,
and
it
doesn't
complain
when
you
make
the
money
programmable,
you
can
have
some
kind
of
set
of
beliefs
set
or
some
set
rules
that
money
would
not
spend
to
this
particular
thing.
So,
if
I'm
going
to
spend
this
money
for
drug
abuse
or
from
sex
trafficking,
money
would
complain,
call
9-1-1
or
you
know,
call
the
FBI
that
you
know
it.
These
guys
is
spending
me
somewhere
wrong.
A
So
we
have
a
conserved
easement
in
the
real
estate
when
we
say
okay,
this
plot
is
only
for
orphanage
or
for
his
schools
or
for
mosque.
Now
you
cannot
use
this
plot
for
commercial
purposes,
right,
it's
a
public
garden
or
for
miss
parity.
We
can
have
the
same
thing
in
the
money
so
I'm,
giving
the
text
to
my
government
with
the
condition
that
government
cannot
use
my
tax
money
to
wage
a
war
to
another
country.
As
soon
as
we
decide
to
do
it,
money
would
not
go
money.
Would
not
transfer
money
would
complain
by
itself.
A
So
this
is
the
programmability
of
money
that
we
are
talking
about
this
one
twice
all
of
the
genes
are
decent
lies
as
well.
So
people
are
replicating
and
reproducing
in
Australia,
totally
different
from
the
people
who
are
replicating
Pakistan
in
USA,
so
they
have
different
kind
of
creates
and
DNA
systems.
So
DNA
and
body
collaboration
is
do
cell
size
as
well.
Then
we
need
evolving.
Something
need
to
be
changed,
need
to
be
adapt
unforgeable,
cost
plainness,
there's
the
cost
to
mine
a
coin.
It
was
you
buying
a
new
one.
A
You
know
you
have
to
get
the
olivine
power,
so
corrupt,
something
will
bother
rising.
You
buy
the
new
coins
scalable.
Clearly
we
needed
security
privacy
enter
ability
and
user
friendliness,
so
these
are
the
few
features
that
we
like
to
see
in
the
next
currency
on
the
existing
ones.
So
this
is
a
chart.
This
is
not
my
needs.
If
somebody
else
it
compared
gold,
fiat
in
cryptocurrencies
and
clearly
the
government
base
is
went
out
of
favor
for
for
all
of
the
DLTS
and
cryptocurrencies
we
need
sensation.
A
Any
need
is
smart
to
be
able
to
program
that
currency.
When
you
talk
about
extinction
as
well-
and
it's
very
very
important
so
when
the
KT
event
happen,
all
of
the
traits
that
you
are
good
for
dinosaurs
becomes
very,
very
negative
for
them,
so
they
were
huge,
so
they
need
more
food
and
more
oxygen
and
more
everything.
Because
of
that
is
strength.
They
are
ruling
the
world
and
nobody
can
do
nothing.
One
is
asteroid
hit
and
then
we
need
Sun
got
blocked
by
the
Asia's.
A
There
were
less
oxygen
and
less
food
and
guess
what
all
of
the
ingredients
they
were,
supportive
of
dinosaurs.
They
were
ready,
they
were
flourishing
them,
start
working
against
them
and
they
got
extinct.
This
is
what
happening
in
fiat
as
well,
and
this
KT
event
has
already
started
with
the
Lehman
Brothers
bankruptcy
and
the
financial
crisis
of
2008.
So
all
of
the
things
that
were
supporting
the
if
we
are
are
kind
of
working
against
it.
A
Two
primary
reasons
for
extinction,
increased
competition
and
change
in
environment,
and
we
clearly
see
there's
increasing
competition,
blockchain
domain
in
FinTech
and
change
environment
as
well.
Average
life
of
fiat
currency
is
27
years.
Mainly
we
go
extinct
because
of
war
because
of
independence,
new
country,
monetary
reforms
and
hyperinflation.
You
have
the
case
of
Venezuela.
We
have
the
cases
of
Zimbabwe
Greece,
recently
India
even
a
transition,
not
as
well
so
where
we
are
going
with
all
of
those
things.
So
these
are
what
I'm
thinking
so
number
one.
A
We
are
going
towards
crypto
cartels,
so
think
of
a
computer
program
that
would
block
somebody's
files
and
get
the
money
to
ransomware.
Okay.
Now
it
will
use
that
money
to
hire
programmer
freelancers
to
improve
its
code
and
go
on
and
on,
and
we
have
already
seen
some
of
the
incidents
of
something
like
that,
and
it
will
become
a
very,
very
big
would
be
very
hard
to
control.
Money
will
come
with
this
own
consciousness,
so
money
will
have
its
own
belief
set.
A
What
is
good,
what
is
not,
where
should
I
go,
spend
where
I
shouldn't
be
spending,
but
the
problem
now
is
that
we
deceptions
are
working
on
what
kind
of
belief
said
we
should
give
it
to
the
currency,
Christianity
Judaism
Islam.
What
about
the
journal?
Social
beliefs,
ok,
social
belief,
then
how
it's
going
to
evolve?
A
Are
they
going
to
learn
itself
so
I
have
the
money
kid
and
I
want
to
buy
a
BMW
I
go
to
the
car
showroom
and
my
money
would
say:
okay,
you
cannot
buy
because
there
are
people
dying
in
Yemen
in
Somalia,
so
you
shouldn't
be.
You
know,
buying
that
extraordinary
car
you
should
go
for
any
and
that
you
know
buy
a
four
or
something
so
I
have
the
money.
I
cannot
use
because
my
money
would
not
allow
me
to
use
it.
A
So
that's
very,
very
tricky
that
if
we
want
to
give
conscious
to
the
money
make
it
programmable
have
his
own
belief
said
what
kind
of
beliefs
that
we
are
talking
about?
Is
it
going
to
be
evolved
if
a
wall
who
is
going
to
control
it,
who
is
going
to
rate
it
liquid
democracy,
the
problem
with
democracy
already
well,
is,
if
I
give
the
word
I
give
the
word
and
I
do
not
know
what
happened
to
my
work
number
one
I
do
not
know.
A
Is
it
get
counted
or
not
if
we
get
counted,
whose
is
good
counted
or
corruption,
and
all
of
those
things,
and
even
its
get
counted
to
the
guy
that
I
give
I
cannot
do
nothing
for
four
years?
What
about,
if
I
give
the
word
to
particular
candidate
and
then
whatever
you
want
to
do
next
I
can
withdraw
my
word
anytime
in
those
four
years
after
two
months.
I
do
not
like
his
policies.
I
said:
okay,
you
cannot
do
this
particular
thing.
A
If
you
are
going
to
veto
the
quote,
if
enough
people
withdraw
the
port,
whole
government
will
collapse
and
then
we
have
new
election
or
something.
This
is
what
we
can
say.
We
call
liquid
democracy
with
everything
else
open.
If
you
learn
from
the
biology
90%
of
the
cryptocurrencies
and
everything
is
going
to
go
extinct
and
10%
we're
going
to
survive,
but
those
10%,
like
you,
know,
dot-com
bubble
bust.
A
B
You
suggest
programmable
money
in
the
sense
that
it
can
tell
what
it's
being
used
to
be,
but
it's
used
for
I
can't
seem
to
like
at
least
picture
that
in
my
head
that
it
can
tell
what
it's
being
used
for,
because
on
there's
two
ways
around
it.
One,
the
private
key,
could
also
just
be
handed
over
and
that's
one
way
of
transferring
that
without
any
record
on
blockchain
and
the
other
is
that
you
know
the
address
that
it's
sent
to
would
need
to
be
designated
in
some
way
to
be
affiliated
with
that
activity.
B
A
This
this
is
what
we
are
working
on,
that
you
know,
for
example,
PFD,
AML
and
kyc
laws.
So
when
we
transfer
the
money
we
tell
them,
this
is
going
for
for
family,
for
personal
admittance
and
what
and
whatnot
so
we
can
check,
we
can
tick
mark
or
we
can
check
particular
thing
but
again,
who
is
going
to
verify
it
if
I'm
saying
I'm
this
sending
this
money
for
orphanage,
while
in
reality
this
money
is
for
a
drug
cartel?