James;

That would be ...interesting...

When the Medici et al invented banking and started keeping private ledgers so that they could be intermediaries of trust, their inheritors (banks) gained enormous power. Depending on the specifics of how/what you require the banks to write to the public ledgers for the banking authorities, it has the potential to:

1. Limit capital flight/tax avoidance by requiring large transactions to the blockchain so that the regulator can see source/destination amount; and/or

2. Curtail the singular financial power of the banks as intermediaries by allowing anyone with a modest amount of capital to write to the blockchain (micro capital and microloans) outside of current banks; and/or

3. Reconsolidate the power from the banks back to the state by requiring state approval on all large transactions.

The White Paper was focussed on Information Sharing Agreements, not fintech, but the logic seems extensible. This set of tools can be democratizing but is not necessarily so.

Sincerely,
John Wunderlich
@PrivacyCDN

Call: +1 (647) 669-4749
eMail: john@wunderlich.ca

On 29 November 2016 at 13:49, James Hazard <james.g.hazard@gmail.com> wrote:

It would be interesting to see what the diagram on page 2 that you did with Mary would look like if we assume a bank as host of PII and a bank regulator as "blockchain" to which the bank writes hashes of its collection of accounts. With perhaps bank regulators hashing to two places: i) a national registry and ii) an international banking authority.

On Tue, Nov 29, 2016 at 9:30 AM, John Wunderlich <john@wunderlich.ca> wrote:
Very similar, in some respects, to the diagram Mary Hodder and I worked on a couple of IIW's ago, and which I used in a more tailored fashion for my white paper on GDPR and Privacy by Design for JLINC Labs: http://www.jlinclabs.com/wp-content/uploads/2016/10/JLINC_WP_GDPRandPB_20161022.pdf

Sincerely,
John Wunderlich
@PrivacyCDN

Call: +1 (647) 669-4749
eMail: john@wunderlich.ca

On 29 November 2016 at 12:07, James Hazard <james.g.hazard@gmail.com> wrote:
This image is great! I'll find a place for it along with this one by Thomas - http://www.commonaccord.org/index.php?action=doc&file=S/About/Conference/Flyer/0.md#Diagram

(Separately, I'm asked Norton Rose for a copy of their report on enforceability of smart contracts, and permission to circulate on the mailing list.)

On Tue, Nov 29, 2016 at 8:12 AM, John Wunderlich <john@wunderlich.ca> wrote:

Sincerely,
John Wunderlich
@PrivacyCDN

Call: +1 (647) 669-4749
eMail: john@wunderlich.ca

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