Dear Rogue 4 Gay,

Thank you for reading my work and thank you for taking the time to elevate the level of discourse.

As you would no doubt have noted from my other writing, we’re on the same page. I have long advocated for a global harmonization of standards when it comes to cryptocurrencies and blockchain protocol development — this is particularly the case when it comes to regulation.

I have made specific mention and likened the need for cryptocurrency development and regulation to follow a route similar to that of global aviation through ICAO standards and localized deviations where necessary — in order to prevent money laundering, capital flight and the myriad other misuses of cryptocurrency and blockchain technology.

Whether or not there’s a simple technological solution to me is less clear.

For starters, one of the key features — a decentralized, immutable database — is also one of the key weaknesses of blockchain technology and the cryptocurrencies they support.

The sluggishness of transactions, inability to scale and inability to correct mistakes are all inimical to cryptocurrencies yet they are also some of its key features.

While the problem is not intractable (there are many proposals, too many to mention, but including sharding and offchain / onchain transactions), it will take many years of hardcore development work to get there.

I thank you for contributing to the discussion and taking the time to give the subject matter your considered thought.

As always, any errors and omissions remain strictly mine.

Yours,

Patrick