Joi Ito's Web

Joi Ito's conversation with the living web.

Published this on pubpub.ito.com. Please comment there.

Abstract: Intentionally or unintentionally, poorly crafted or outdated laws and technical standards threaten to undermine security, privacy and the viability of our most promising new technologies and networks, such as Bitcoin and Blockchain. We should vigilantly be reviewing and revising laws and standards for the public good and working to prevent the creation of fragile and cumbersome systems designed to comply with these poorly crafted or outdated laws. In this post, I discuss the Digital Millennium Copyright Act's Anti-Circumvention provision, Digital Rights Management, Anti-Money Laundering Law, Know Your Customer Laws and security backdoors.

It looks like I can post to Medium from my blog using RSS by using IFTTT. I'm going to give this a try.

I like having my blog as the primary source and archive and am excited by different ways that we can then distribute/syndicate the content out.

Wow. An amazing blast from the past. Saw this on Facebook yesterday.

This is from when I was spending a lot of time with Timothy Leary. I was his adopted "God Son" and was working on a book with Tim called "The New Breed" which we never finished. The book was about the new generation of tech-empowered young people who were trying to "tune in, turn on, take over" instead of "tune in, turn on, drop out," a famous Timothy Leary quote.

This is footage from a bus ride when Tim was visiting Japan for a conference. Zack Leary remembers watching the the fall of the Soviet Union on TV during the trip so we guess it's probably 1991. This is also the first time I met Marvin Minsky and his wife Gloria. I remember translating a "debate" between Marvin and Tim where they were arguing about whether humans had a soul. Tim said yes and Marvin said no. "The Society of Mind" had just come out in Japanese. To Marvin's dismay, it turned out that in Japan, the word for "mind" and "soul" were the same and were closer to the definition of "soul." The Japanese publishers had translated the title of his book "Society of the Mind" to "Society of the Soul" and Timothy poked Marvin with glee. Tim and Marvin had a very playful and fun relationship with clashing world views - but their interaction was always fun and enlightening to listen to.

The video also shows an embarrassingly young and naive version of me still struggling to translate Tim's words into Japanese and little Zach Leary as well!

We were such troublemakers. I guess we still are.

PS Tim mentions VR (this was during VR boom #1), Hyperdelic Video and Anarchic Adjustment.

PPS David Pescovitz just posted the video over on Boing Boing as well.

In a previous post, I wrote that I believe the Blockchain has the potential to be as disruptive -- and unlock as much opportunity and innovation -- as the Internet and that it could become a ubiquitous, interoperable, reliable, low-cost network for transactions of various kinds. But along with that enormous potential, the Blockchain also faces challenges that are similar to, but in many ways very different from what we had and continue to have with the Internet and the Open Web.

I'm worried about the current situation of Bitcoin and the Blockchain.

Partially driven by the overinvestment in the space, and partially by the fact that Bitcoin is much more about money than the Internet ever was, it is experiencing a crisis that didn't really have any parallels in the early days of the Internet. Nonetheless, the formation of the Internet offers some important lessons -- most importantly, on the question of the talent and knowledge pool. In those early days, and at some layers maybe even still today, there were only a very small number of people who had the background, brain type and personality to understand some of the core elements that made the Internet work. I remember when there were only a handful of people in the world who really understood Border Gateway Protocol (BGP) and we had to hunt them down and share them with our "competitors" when we were setting up PSINet in Japan.

It's very similar today with Bitcoin and the Blockchain. There are a small number of people who understand cryptography, systems, networks and code and are capable of understanding the Bitcoin software code. Most of them are working on Bitcoin, while some are working on Ethereum and other "related" systems and a few more are scattered around the world in other places. It's a community including some who have been around since the 90s, before the Web, going to crazy conferences like the Financial Cryptography conference. Like any free and open-source software community on the Internet, it's a bunch of people who know each other and mostly, though not always, respect each other, but which fundamentally holds a near monopoly on talent.

Unfortunately, the wild growth of Bitcoin and now "the Blockchain" has caught this community off guard from a governance perspective, leaving the core developers of Bitcoin unable to interface effectively with the commercial interests whose businesses depend on scaling the technology. When asked "can you scale this?" They said, "we'll do the best we can." That wasn't good enough for many, especially those who don't understand the architecture or the nature of what is going on inside of Bitcoin.

Many companies that are used to making decisions around less complicated systems -- like building a website or buying and running Enterprise Resource Planning systems -- felt they could either just hire other engineers who would listen to the customer needs better or became so annoyed with the, "we can't promise but we'll try" attitude of the core developers that they lowered their standards and went with whomever would promise to meet their demands.

The future of Bitcoin, decentralized ledgers and other Blockchain-like projects depends on this community. Many people call them "Bitcoin Core" as if they are some sort of company you can fire or a random set of developers with skills that you can just train others to acquire. They're not. They're more like artists, scientists and precision engineers who have built a shared culture and language. To look for another group of people to do what they do would be like asking web designers to launch a space shuttle. You can't FIRE a community and, statistically speaking, the people working on the Bitcoin ARE the community.

If you try to build "something like Bitcoin but better!" it will probably turn out insecure, underwhelming, and will go against the the fundamental principles that give Bitcoin the potential to be as impactful to banking, law and society as the Internet has been to media, communication, and commerce.

Bitcoin is an open project, with a sometimes-inefficient-but-open community process that always pushes for the fundamentals of decentralization, robustness, and innovation. But Bitcoin isn't a single installation, it's a living, working system that presents a $6.5Bn bounty for anyone who can break it. This high valuation causes a great deal of caution and testing before anything is deployed on its network, but we can be quite sure that many many people have been thinking about how they can break the system and have so far failed.

Ethereum and Ripple are probably the two next largest networks in the $100's of millions range (Etherium is currently $400M+) - Ripple with a fundamentally different consensus protocol and Ethereum with interesting and useful features. If you can't do certain transactions or develop certain application on Bitcoin, I can see why Ripple or Ethereum might be interesting. If you're serious about security and stability -- and you should be -- Bitcoin is almost the only choice with the largest bounty, and largest community, with the most practical modern experience deploying to a broad and active network in the real world.

Many people who are so excited about the potential applications that they have ignored completely the architecture of the system on which they would run. Just as many Internet companies assume that the Internet works on its own, they assume that all blockchains are the same and work, but blockchain technology is not as mature as the Internet where you can almost get away with that. They often view the people working on Bitcoin as a bunch of crazy Libertarians who came up with a cool idea but believe that a bunch of hired guns could put the same thing together given enough money. Governments and banks are launching all kind of plans without enough thought going into how they're actually going to build the secure ledger.

I fear that we'll build something that at the application layer looks like what Bitcoin and the Blockchain promised, but under the hood is just the same old transaction system with no interoperability, no distributed system, no trustless networks, no extensibility, no open innovation, nothing except maybe a bit of efficiency increased from new technology.

We have a good example of that. One of the key benefits of the Internet was that the open protocols allowed innovation and competition at EVERY layer with each layer properly sandwiched between standards developed by the community. This drove costs down and innovation up. By the time we got around to building the mobile web, we lost sight (or control) of our principles and let the mobile operators build the network. That's why on the fixed-line Internet you don't worry about data costs, but when you travel over a national border, a "normal" Internet experience on mobile will probably cost more than your rent. Mobile Internet "feels" like the Internet, but it's an ugly and distorted copy of it with monopoly-like systems at many layers. This is exactly what happens when we let the application layer drag the architecture along in a kludgy and unprincipled way.

Lastly, but most importantly, we're burning out those developers who we most need to be focused on the code and the architecture. Many are dropping out or threatening to drop out. Many are completely discouraged and depleted by the public debate. Even if you believe that we will eventually have a new generation of financial cryptographers, you can't train them without this community. We have many smart people on all sides of this debate and I think that most of them are doing what they are doing with good intentions. However, those of us on the sidelines fanning the flames, making uninformed and provocative statements and fundamentally disrespecting and undervaluing the contribution of the Bitcoin community to the past, present and future of this possibly world-changing innovation, are doing harm.

I've been sitting back quietly hoping that things would just calm down, and they might eventually. But I see more and more misinformation and hype with "Blockchain" being reduced to the same useless suitcase words that "IoT" and "The Cloud" have become and it makes me sad and a bit mad.

I've decided to spend the next chunk of time trying to counteract or balance some of the most misguided stuff that I'm seeing in areas that will have an impact on our future. It feels like while the Bitcoin Core development community is robust, the ecosystem of stakeholders and the understanding of how decisions are made and information is shared is still fragile and vulnerable. I fear that the communication and now emotional rift between various key groups and individuals is wide right now, but I believe it's imperative that we try to bring the community together and focus on executing on a shared technical plan that represents our best shot at broad consensus from both a technical and a practical perspective. Hopefully, we can build a community and a process that is more robust and can handle the inevitable disagreements in the future in a less emotional and more technical and operational way.

Dave Winer just posted about his trip to the Media Lab.

He ends with:

Where to go?

In one of the follow-up emails I listed three things we could do to help the open web reboot. I had written about all these ideas before, in some cases, a number of times.

  1. Every university should host at least one open source project.
  2. Every news org should build a community of bloggers, starting with a river of sources.
  3. Every student journalist should learn how to set up and run a server.
These ideas came out of my work in booting up blogging and podcasting, and working successfully at Berkman to get the first academic blogging community going. Had I continued that work, this is where we would go.

I agree that universities can make good homes for free and open source software projects and I think we should have more of them at the Media Lab. I also know a news org or two and agree that having a community of bloggers with a river of sources sounds like a pretty good idea. And... we have a number of what I would consider are student journalists at the Media Lab and more broadly, in our network, we have many. I've always believed that everyone involved in "publishing" should know how to set up a server so agree with the third one as well.

But agreeing is easy. Now it's time to try to do something about it. That's the challenge from Dave.

PS This back and forth feels like "good old fashioned blogging." Maybe this is the trigger to start doing it regularly again. Thanks Dave.