By Dr Craig Wright, as edited and published by his editors on craigwright.net.
Abstract. A system such as Bitcoin operates using a proof-of-work-based consensus mechanism that many individuals have falsely claimed to limit the ability for the system to scale. As a result, alternative proposals based on proof of stake are misleadingly being promoted as scaling solutions. Yet, it will be demonstrated that proof of stake is not a scaling solution but rather a means of reintroducing ownership and equity control through a back-door creation of a digital bearer share. Here, an equity system based on anonymous holdings is constructed that allows the digital control of a corporate entity outside the provisions of regulatory controls.
Read the full paper here.
First published on craigwright.net on 18 March 2022. This copy was recovered from the Internet Archive snapshot of 8 December 2023. Republished on BSVSearch with Dr Wright's permission - about this archive.