Babbitt Column | Ethereum developers arrested, showing that the carrier that disrupts U.S. financial hegemony may be the public chain

On November 30, the Federal Prosecutor's Office for the Southern District of New York and the FBI announced that they had arrested Virgil Griffith, a research scientist at the Ethereum Foundation, and accused him of violating the Emergency Economic Powers Act.

The reason is as follows: After the U.S. State Department banned Griffith from visiting North Korea, Griffith still went to North Korea in April 2019 to attend and attend the Pyongyang Blockchain and Cryptocurrency Conference. At the conference, Virgil Griffith and other participants "discussed how North Korea could use blockchain and cryptocurrency technology to launder money and escape Western economic sanctions."

As a result, Virgil Griffith provided North Korea with highly technical information that could be used to help North Korea launder money and evade sanctions.

In a nutshell, Virgil Griffith traveled to North Korea under the blockade of the US financial hegemony, and taught and instructed how to use the decentralized Ethereum network, technical guidance including training in the circulation of digital asset transactions, and it is estimated that it also provided feasible Sexual technology implementation.

burst through arrow

Obviously, the Ethereum Foundation cannot and should not carry this pot, so this can only be its personal behavior, but as a global network, Ethereum will not refuse to participate and use from any place and country on the planet itself. This is also the meaning of the decentralized public chain, which can resist censorship and is not controlled by any organization or individual.

Feng Qingping is very curious. North Korea has the terrifying hacker organization Lazarus Group, which supports it as a country. As North Korea ’s top hacker concentration camp, talents are abundant, and the Ethereum network is an open source system. Technical information is public It is transparent. If you want to use the Ethereum network, you can research and develop it yourself. Why do you make people alone and give people a handle?

This short message also uses blockchain technology as the decentralized network of the underlying infrastructure, such as the Ethereum network. The shock wave energy brought to the real world is revealed. A truth about the future is looming. Ethereum development The arrest of Virgil Griffith reveals that the American financial hegemony network that has dominated the world for more than 100 years is being represented by an unprecedented combination of advanced technologies, that is, a decentralized blockchain network, and we can even assert that, as The post and telecommunications office is defeated by email and the communication company is defeated by the social media network. If the powerful United States cannot upgrade its mindset, it is likely to be defeated by the pure public chain represented by Ethereum. Other forces are pushing hands.

Before this conclusion is thrown out, let's reflect on it. Can Ethereum defeat Ethereum before defeating itself?

The core link of the public chain is consensus, and the foothold is the node. At present, the unique embodiment of the POW consensus mechanism is the total amount of computing power with the node as the key player. So, can we first destroy the Ethereum nodes that support the Ethereum network?

Top 10 nodes in Ethereum

The picture shows the data on December 3, 2019. There are a total of 7,228 Ethereum nodes. Although up to 33.81% are located in the United States, there is still a lot of gap to 51% of the attack capability. In view of the distributed structure of the blockchain network, only a global united front can be established in order to have the ability to annihilate strikes. However, the actual political structure is that it is difficult to unite conflicts of interest, which means that it is difficult to coordinate and coordinate together. .

In this way, only by destroying the value of the Ethereum network's value circulation symbol, the value of Ethereum, that is, by lowering the price of ETH, making the Ethereum network's miners unprofitable, thereby promoting the bankruptcy of the Ethereum ecosystem. Indirectly achieve the goal of destroying the Ethereum network. As of December 3rd, the market value of Ethereum is 16.2 billion US dollars. This market value is short. It is not difficult to sell short through futures. In fact, the futures channel is used to implement the pricing power of virtual currencies, such as Bakkt and other Wall Street capital. The birth mission of controlled futures exchanges.

If relying on national power, there is a chance to destroy an Ethereum network. The difficulty is that "even if I kill one, there are tens of millions of me." Go forward and succeed, such as LTC, DOGE, etc. Brothers in the same door, so infinite. In this way, in order to maintain financial hegemony, the United States can only continue to play the mole game in the face of Chen Sheng and Wu Guang, who have emerged everywhere. Regardless, among the power of the Ethereum network game, there is the United States acting as a hangman, and there must be North Korea and Iran who are desperately defending. In fact, this conclusion is also the originator of the pioneering blockchain application of the Bitcoin network. Although facing 11 years of hunting and strangling, it is not only unscathed, but it is growing stronger.

Although the Ethereum network is an ecological economy, like Zcash, Monero, Dash, etc., which are mainly for privacy, the volume is still small and it is difficult to carry a national action. However, it is expected that some similar to the Pandora planet will grow The Jacks with the power of Avatar may complete their rescue and resistance to bad invasion forces, which may be a high probability event.

But what if you want to launch a physical destruction operation against the core personnel of Ethereum? From here, we can see the wisdom and vision of Satoshi Nakamoto, the creator of Bitcoin, which has always been hidden.

The above information on the one hand reflects the threats facing the Ethereum Foundation with Vitalik Buterin as the core, which requires the rapid completion of the mission to achieve the realization of a decentralized distributed collaboration system; on the one hand, it reflects that Ethereum is based on its unique The huge potential of a wide range of application scenarios implied by the security created by decentralized features.

On the current development trajectory of Ethereum, it has gradually departed from the prosperity of ICO as the mainstream, transitioned to the scene where DeFi applications are mainstream, and has become a veritable Internet of open financial systems. Presumably these growing powers will not sit idly by and face the dangers of the Ethereum network. Ethereum is indeed a genuine financial multinational group.

Ethereum financial map

In fact, the use of blockchain technology to evade the financial hegemony network in the United States and seek their own salvation and survival opportunities has also been the relentless pursuit of many countries that are suffering from this kind of poison.

When it originated, it originated from the Petro coin issued by the Venezuelan authorities. From the later results, it should be a failed attempt. The reason is that Feng Qingping believes that Venezuela does not recognize the main value of the blockchain as a trust machine. It is to establish a trust relationship. If its own national strength is strong, political stability can still be used for reference. However, Venezuela, which has been swayed by storms, has independently established an autonomous network, abandoning the core meaning of the blockchain. When its trust is facing bankruptcy, it still depends on it As an anchor, it can be described as taking its dross and removing its essence, drawing tigers is not an anti-cat.

However, Venezuela has used blockchain technology as its last straw to save itself and circumvent US financial hegemony control, but it has played a leading role.

In November 2018, the United States began to implement the first round of sanctions on Iranian oil exports, and then the US Treasury Department announced that SWIFT, an interbank data transmission system, had interrupted settlement services to the Iranian central bank.

Seeing this, we have understood that not only the military and the US dollar, but also the global monetary settlement system SWIFT, which supports the U.S. economic hegemony, together with the United Nations, the World Trade Organization, the World Bank, and the International Monetary Fund, are the United States' tools for exercising hegemony That's it.

This means that the Iranian government's dollar settlement in other commodities such as the purchase of US dollars, the issue of sovereign debt and gold will be restricted. Countries around the world are transitioning to a "cashless society," and the economic sanctions in the United States are keeping Iran in a cage of "cash society."

There is no surprise that blockchain technology will once again become Iran's life-saving straw, copying Venezuela's approach. Iran plans to issue its own digital currency and use strategic resources such as crude oil as physical collateral.

Whether Iran will be the same as Venezuela, whether the fate of digital assets mortgaged with oil will return, or whether it will be a victory, the result is unknown, but given that Iran's inflation rate is much lower than Venezuela, the national situation is more optimistic, and there may be some Operating space.

Feng Qingping believes that these measures may alleviate its actual situation, but if you want to get out of the cage, you can only open it through an open source decentralized network and use the trust mechanism provided by the uncontrolled underlying public chain. The people of the world, thus taking advantage of the advantages of blockchain technology, have a historic opportunity to gain breakthroughs and win new life for themselves.

newborn

At a time when US financial hegemony is being increasingly challenged, the Trump administration implements the US priority policy of a closed country, and the world is becoming more polarized. After North Korea, Venezuela and Iran, there will be more and more countries and Regions, such as Russia and Turkey, fight on their own or form alliances, evade US financial hegemony, bypass US financial controls, and seek safe and stable economic development space.

The timely blockchain technology has just taken on this mission. Ethereum is a real-life example that demonstrates this possibility. It is not necessarily the Ethereum network that saves these tortured countries, but the best choice must be unregulated and sovereign control such as Ethereum. The inherently anti-bone global network, like the Bitcoin network, the Ethereum network is also a natural SWIFT. The stable currency Dai is naturally the world's currency, the United States dollar, and Uniswap is naturally the place for world currency transactions and circulation.

The world is bitter and beautiful!

As the world faces change, blockchain technology acts as a vanguard. Like an amazing soldier, it will be the first to break the financial hegemonic network that the United States has operated for many years in a surprising way, and create another world's growth pole. , Also served as the savior of some countries and regions. So we will see that Virgil Griffith, an Ethereum developer, was snarled by the very calm US government, because these actions have broken through the hegemonic network system on which it depends.

Blockchain technology provides a solution to crack U.S. financial hegemony. Countries and regions all over the world are competing. Large countries have good resource carrying potential and opportunities to quickly break through territory. Small countries are facing huge financial tentacles invasion and thus lose The dangers of financial sovereignty. From this moment, the old world is out of order, the old forces are out of control, and the new world has not been established.

Whether it is the cooperative operation method of the alliance chain or the autonomous and controllable approach of the private chain, the root cause is the limited expansion of the main rights and benefits, the conscious defense of American financial hegemony, and only innovative thinking to establish a new world map Concept, and actively participate in the planning and construction of the new world of the global network, so as to use the current legislative power in the future vision of the new world pattern to win more rules and voice.

The Ethereum developer incident reminds me of a short message from last year. It is very similar. Although short, it is extremely significant. Like a clever chess player, it quietly lays out a child and moves from one to the next. This place breaks through the net that blocks China and impedes development. While building a major artery of transportation energy, it has also secured a stable living space and development opportunities for itself. It can be asserted that this has changed the entire passive situation. This leads us to believe that China, which has thousands of years of cultural heritage, should have infinite possibilities today and bring a beautiful vision to the world today.

This short message was: On November 13, 2018, Pakistan's Gwadar Port, operated by the Chinese side, officially sailed.