Friday, June 28, 2019

Corridor banking with bitcoin

OK, here we use sandbox tools.



We want a fixed bandwidth corridor to the general miner pool, which we can compress using queue pricing.  In other words, we want to put a node on the miner's pool which collects internal transactions form a risk equalized pool of traders.

For example, all suppliers to Walmart stores. Walmart can buy supplies in bitcoin, and runs its own node in the miner pool.  Now the Walmart node can hold onto ledger requests, queue them up. WalMart can require suppliers using bitcoin expect a priced queue to clear accounts, undr contract. (sounds like libra again).

So Walmart can hold its portion of the block chain, only submit the chain when it grows larger than contract. But Walmart has to watch the general chain for scofflaws, supplier who sneak in a second request to the pool.  The result is a constrained corridor, a savings and loan equivalent.  Supplier will hold their bills until they aggregate, then submit them to Walmart clearing.

Wlamart proof of work exists, it has the longest local chain, it is closed it the scofflaws are eliminated.  In the cases where a scofflaw escapes, Walmart has to reorganize its chain and take its losses,pursuing legal alternative to collection. In these cases, Walmart suffer maximum fee losses. The queuing price act as an interest charge.  We get automatic scale adjustment, we get Huffman encoding.

What are my sandbox rules?

Congestion priced entry and exit yields risk equalization. Asynchronous queue management, except for a timeout qualifier. Constrained channel coding gets automatic scale adjustment. Round robin access to observe the current queue. Coding is a skew adjustment process, skew is observable, and integral to the ratio process. Keep the scofflaw queue bound and observable. There are a few more or less, the pros can sort it.

We need sandbox engineers,lots of them.  Provable contracts, queuing pits and routers. Consistency checks over ledgers. Secure ID checks and validations. Biometric mouse with secure ID anyone?

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