DCI Newsletter Issue #4 - Q3 2019

Hello,

The Digital Currency Initiative has been hard at work this quarter continuing to build the field of cryptographic and economic systems. We have noticed that there are serious gaps between the problems academics are tackling and the issues actually relevant to blockchains with users running in production. Sometimes it’s a problem of common language or common methodology; other times misunderstanding real-world security concerns or being unaware of existing work because it’s in non-traditional venues like forums and blog posts.

One of DCI’s goals is to bridge this gap.  On October 5th and 6th we gathered computer scientists, lawyers, economists, game theorists, ethicists, and practitioners at the MIT Media Lab for a series of curated discussions around consensus, economic security, markets, technical security, ethics, and more. This was a kick-off to launching our new journal, Cryptoeconomic Systems, where we hope to bring strong peer review and standards to the current culture of white papers in a venue that is specific to our area.  Please consider submitting your work now!

We’ve undergone major changes at the Media Lab in the last two months: Joi Ito has resigned and left MIT.  There is now a search for a new director with an executive committee running the Lab. The future for the DCI is still strong; we plan on continuing to do the important work that we have done over the past four years: research in cryptocurrency security, privacy, and scalability, and Bitcoin open-source protocol development. In addition to the journal, we are starting a new cryptocurrency security effort to establish guidelines, set standards, and harden cryptocurrency networks to prevent exploits. 

Finally, I want to acknowledge the movement and excitement around Central Bank Digital Currency. Governments and central bankers are realizing that it’s time to start seriously investigating before the private sector provides a solution that affects their ability to maintain monetary and financial stability. Look out for an article coming soon from the DCI on the most important features to consider when designing a CBDC.

As always, don’t hesitate to reach out if you have any comments, questions, or feedback. And thanks again to our members and funders for helping us to do this work. 

Thanks,

Neha