Bitcoin: Open-Source Money Enhancing Open-Source Code

afromusictalk February 16, 2022 9:16 am 0

The beneath is a direct excerpt of Marty’s Bent Issue #1160: “Open source money enhancing open source code.” Sign up for the newsletter here.

Bitcoin, an open-source monetary system, can supercharge open-source development projects and vice versa. — by way of Ten31

This is a great piece from Grant Gilliam, somebody I’m proud to name a good friend and enterprise accomplice at Ten31. In it, Grant dives into the methods by which Bitcoin, an open supply financial system, can supercharge open supply growth tasks within the house and vice versa.

Many underestimate the ability of open supply software program and its means to allow unimaginable issues. For many years open supply software program tasks have struggled to monetize. Many have executed it efficiently, however by no means with out the necessity to get actually artistic or getting purchased out by an enormous company that was leveraging the software program. As a result of nature of the protocol’s financial purposes Bitcoin is proving that there are new methods for open supply tasks to monetize, which highlights Bitcoin’s utility, strengthens tasks leveraging it, and places a optimistic suggestions loop in movement that results in the Bitcoin protocol, corporations, and demanding infrastructure massively benefiting from one another.

An awesome instance of this flywheel in movement is Podcasting 2.0, which leverages two open supply protocols in RSS and Bitcoin, and permits entrepreneurs constructing open supply merchandise on the open supply Podcasting 2.0 tasks to simply monetize their merchandise. Podcasters merely embody their Lightning Community public tackle within the worth block embedded within the RSS feed for his or her podcasts, their listeners are then capable of stream them sats over the Lightning Community utilizing their most well-liked Podcasting 2.0 utility, and as they do this they’re routinely capable of ship a small proportion of the sats they’re streaming to that Podcasting 2.0 app to assist that app monetize. Open supply apps leveraging open supply protocols to permit content material creators and entrepreneurs to monetize in a self sovereign vogue. It is a good looking factor.

There are lots of different examples of the sort of stunning suggestions loop too. Unchained Capital gives a multisig service to individuals that enables them to have interaction in collaborative custody, mortgage merchandise that give them visibility to their mortgage collateral with out having full management of it over the course of their mortgage, and an IRA product that enables people to carry their very own keys. Unchained, recognizing the worth they’ve obtained from leveraging Bitcoin’s open supply protocol, has determined to provide again to the protocol and its customers by open sourcing its multisig answer by way of Caravan, which permits people to construct these sort of merchandise for themselves if they need. They financial institution on many individuals forgoing that means to have interaction with the experience that Unchained has on this specific space.

One other instance of the attractive open supply suggestions loop described by Grant is Samourai Pockets, which offers open supply privateness instruments for bitcoiners. Samourai Pockets is open supply, and so they profit from the open supply nature of Bitcoin, but they’re additionally capable of leverage their open supply challenge and Bitcoin to offer income by providing coordination companies for the CoinJoin instruments they construct.

One final instance that I am going to point out right here is one thing we’re constructing at TFTC that leverages Ghost, an open supply content material administration, and the Bitcoin Protocol/ Lightning Community Protocol stack to allow sovereign monetization of content material. This is a demo of what we have constructed.

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Bitcoin: Open-Source Money Enhancing Open-Source Code

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Bitcoin: Open-Source Money Enhancing Open-Source Code

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