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Tron Blockchain: Unveiling the Vision of Justin Sun

This article delves into the history of the Tron blockchain, exploring its origins, key features, and the role of Justin Sun in shaping its trajectory.

Research develops a model of trust in Ethereum token ‘Ether’ payments (TRUSTEP)

My new research developed a model of trust in making payments with the Ethereum (Zarifis, 2023). I published the first peer reviewed research on trust in payments with Bitcoin in 2014 (Zarifis et al. 2014), and I wanted to apply my experience from that to understanding the consumer’s perspective to making Ethereum payments.

Ethereum is being utilised in various ways, including smart contracts and payments. Despite some similarities with Bitcoin, Ethereum is a different technology, with different governance and support.

Ethereum payments require digital wallets and the process is different to paying in traditional fiat currencies like the Euro. When a person wants to take an action without controlling all the parameters, and some risk is unavoidable, trust is necessary.

Figure 1. Model of trust in making Ethereum payments, TRUSTEP

The model demystifies how trust is built in consumer payments with Ethereum. The model starts with the individual’s predisposition and then covers the factors from the specific context of Ethereum payments. From the person’s individual characteristics, their willingness to innovate in finance and technology have a role. There are then five variables from the contexts: Adoption and reputation, stable value and low transaction fees, effective regulation, payment intermediaries and trust in the seller. The personal and contextual factors together influence trust in the Ethereum payment process and making a payment with Ether.

While the model has similarities to previous models of trust, such as the role of each individual’s psychological predisposition and the role of reputation, the role of institutions such as regulators and the importance of trust in the retailer, the distinct characteristics of Ethereum also play a role. In fact, the factors related to the distinct characteristics of Ethereum have the strongest support based on the average of the responses. This research can be added to a growing body of research in trust that illustrates how users’ beliefs in each cryptocurrency need to be explored separately.

Furthermore, the role of the organizations involved in the payment process are shown. While trust in the retailer is usually a factor in retail payments, the regulators and payment intermediaries are not always a significant factor, so it is a useful contribution to show that this is the case here.

That is what I want to share with you here. If you have experiences related to what I am talking about, please let me know, I would love to hear from you.

Reference

Zarifis A. (2023) ‘A Model of Trust in Ethereum Token ‘Ether’ Payments, TRUSTEP’ Businesses, vol.3, no. 4: pp.534-547. Available from (open access): https://doi.org/10.3390/businesses3040033

Zarifis A., Efthymiou L., Cheng X. & Demetriou S. (2014) ‘Consumer trust in digital currency enabled transactions’, Lecture Notes in Business Information Processing-Springer, vol.183, pp.241-254. Available from: http://link.springer.com/chapter/10.1007/978-3-319-11460-6_21#

Cryptocurrency Is a Giant Ponzi Scheme

Cryptocurrency is not merely a bad investment or speculative bubble. It’s worse than that: it’s a full-on fraud.

The 2008 financial crisis made clear why the financial sector must be brought under public control. Cryptocurrency and “decentralized finance” aren’t special — they’re just more of the same privatization and deregulation masquerading as high-tech “solutions” we’ve seen in other industries. Unregulated, privatized financial markets pose the same risks to the public whether or not they are “on the blockchain.”

The Rise Of Ordinals And NFTs On The Medium Of Bitcoin

The Ordinals protocol was introduced to Bitcoin in early 2023 at a most opportune time. Bitcoin had nearly two years of low transaction fees from the lack of demand to actually send Bitcoin transactions. Bitcoin is considered to be the most secure blockchain in the world, but that security depends on miners who receive their revenue from transaction fees and block rewards. As part of the…

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Edward Snowden on the anonymity of cryptocurrencies

Edward Snowden, a former CIA and National Security Agency analyst, has addressed the Bitcoin Conference in Amsterdam.

Snowden fundamentally took the position of the crypto enthusiast, advocating the freedom of crypto business. Since he is intimately familiar with digital surveillance and control technologies, his opinion is that of a professional.

First, and in my opinion, the most important thing is his valuation of Bitcoin as an asset with no anonymity. It’s a bit sudden, isn’t it? Now, a CIA analyst claims that Bitcoin anonymity no longer exists today, that governments and intelligence agencies can uniquely identify crypto wallet users.

The second statement is a consequence of the first. Snowden encouraged developers to focus on increasing Bitcoin anonymity, as privacy was one of the pillars on which Nakomoto’s work was based.

In this regard, the position of the American regulator looks interesting. Recall that the head of the SEC Gary Gensler fundamentally singled out Bitcoin among other cryptocurrencies. According to Gensler, Bitcoin is the only full-fledged cryptocurrency, and all the rest are securities or investment contracts.

There is a certain logic in this judgment: Bitcoin is already under control. Both the transactions and their participants, who habitually believe that they have hidden behind the blockchain, are controlled. Bitcoin ETF, which actively promoted by grands if the fiat economies like the BlackRock investment fund, will only strengthen the level of control.

Another thing is that Bitcoin anonymity is directly related to the overall security of IT systems. Today, states and intelligence agencies have the technical ability to look at almost any computer, except for a few specially protected. So, unfortunately, the world that Nakamoto intended to build, is still a long way from us.

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The pace of innovation in Artificial Intelligence (AI) is astonishing. AI is now the driving force behind technologies like Robotics, IoT, and Big Data, and Generative AI tools like ChatGPT are gaining widespread attention. With AI, computers can ma

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