The Bretton Woods White Paper Review
The U.S. think-tank Consumers’ Research has just released the Bretton Woods White Paper, which consists of input from digital currency executives, developers and regulators concerning emerging technologies. Gathered at the site of the Mount Washington Resort, the group produced an 85-page report discussing Bitcoin and its underlying platform. The review was released in Miami at The North American Bitcoin Conference by Research executive director Joe Colangelo.
According to Colangelo, the paper’s primary focus has three essential attributes:
Serve to inform those new to Bitcoin and blockchain technology of opportunities they may not have considered previously.
Better inform members of the Bitcoin community of potential hurdles that may impede their ability to effect change, which they may not have realized.
Serve as a primary document for how industry experts viewed Bitcoin and blockchain technologies in the year 2015.
Bretton Woods White Paper: Multiple Facets of the Digital Currency Ecosystem
The Bretton Woods White Paper goes over quite a bit of information on Bitcoin and blockchain technology within its pages, featuring key players in the industry and the opportunities the technology provides. The subjects in the downloadable PDF include blockchain technology in general, smart contracts, identity solutions, game theory and microtransactions. These tiny transactions are viewed as being possibly able to change the financial landscape and internet model worldwide. Sending small transactions has become significantly popular idea but costs today with certain companies like Paypal are still very high. The paper reveals distributed ledgers allow an efficient and low-cost way to leap over this problem it states:
For decades, various parties have attempted to employ micropayments via the Internet as a way to incentivize the direct transfer of value from party to party. However, due to the nature of financial institutions and the limited technology present during the Internet’s formation, the development and adoption of micropayments was stunted. Today, blockchain technology enables microtransactions down to minute fractions of pennies, thus enabling us to revisit the idea of micropayments over the Internet
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