Proudly Serving North Dakota

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North Dakota Blockchain Since 2022

Utilize Blockchain for Secure Tracking

Let me start off by saying I have a background in software development of 45 Years so it is part of my makeup that when I learn something new I look to implement software frameworks, methods and protocols around what I have learned.

I coded in c# from scratch my implemention of Blockchain, Private Keys, Public Keys, Smart Contracts, Wallets, NFT, Proof of Work and more.  Next I will complete in c# a peer-to-peer (P2P) implementation of decentralized mining.

North Dakota Customers

Some information I know about North Dakota is I believe the state was admitted or ratified to the United States around or about 'November 2, 1889'.  North Dakota is located around latitude '47.650589' and longitude of '-100.437012' and has a population of roughly '779,094 million'.  If I remember correctly the capital is 'Bismarck' and the largest city is 'Fargo'. 

What is Blockchain Technology?

A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.  Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data - generally represented as a Merkle tree.

The underlying technology that allows the Bitcoin network to operate is known as blockchain - an area Congress has been paying attention to for its potential impacts as well.  The Blockchain Innovation Act (H.R.  3639) is sponsored by Congressman Brett Guthrie (R-KY) and would direct the Secretary of Commerce to conduct a study and submit to Congress a report on the state of blockchain technology and its use in consumer protection.

The Blockchain Promotion Act of 2021 (S.  1869) is a bipartisan measure that would establish a working group to recommend to Congress a definition of blockchain technology, as sponsored by Senator Todd Young (R-SD) and Senator Edward Markey (D-MA).  There is a companion House bill (H.R.  3612) by Representative Doris Matsui (D-CA) that is co-sponsored by Representative Brett Guthrie (R-KY)

The Blockchain Technology Coordination Act of 2021 (H.R.  3543) was introduced by Soto to establish a Blockchain Center of Excellence within the U.S.  Department of Commerce.  The office would oversee all non-defense-related deployment and activities related to blockchain technology within the federal government.

Emmer introduced the Blockchain Regulatory Certainty Act (H.R.  5045) with Soto that aims to provide clarity for blockchain innovators by offering a safe harbor for licensing and registration for certain non-controlling blockchain developers and providers of blockchain services.

Finally, the RESCUE Act for Black and community banks (H.R.  154) sponsored by Representative Bobby Rush (D-IL) calls for a Blockchain study by the Comptroller General of the United States as to whether blockchain technology could be used to increase investment by lower-income individuals in start- ups and other crowd-funded companies.

If at any point you decide to reach to me just know the area code I work within for North Dakota is '701'.  For Blockchain assistance you will find my rates very reasonable for North Dakota.  Now just keep in mind my time zone is 'Eastern Standard Time (EST)' and I know the time zones in North Dakota are 'Most of the state: Central Standard Time (CST) / Western North Dakota: Mountain Standard Time (MST)' in case you wish to call me.  Anyway let me continue.

Quantum Thwarting

The future is encryption algorithms to thwart future quantum computer attacks.  This is especially needed with CBDC, crypto and transaction signatures.  I have been working with 4 NIST encryption quantum resistent algorithms and 2 NIST signature based technologies with digital currency/wallet transactions.

The algorithms are designed with two main goals for when encryption is typically used: General encryption, which is used to protect information exchanged across a public network, and digital signatures, used for identity authentication.  NIST said all four of the algorithms were created by experts collaborating from multiple countries and institutions.

What is a Network Node?

A node is a discrete member of a network which interacts with other nodes to form the network.  A Bitcoin node for instance is any computer that runs a Bitcoin implementation and stores the entire blockchain.  Nodes validate, broadcast, and request new blocks and the mempool to and from peers in the network.  If nodes run compatible software, consensus is achieved.

Node count is vital to protecting the network from malicious or haphazard source code changes, reorganizations, and other protocol changes.

How does Consensus work?

Consensus is an ideal and the method of coordination between individuals in a decentralized system such as Bitcoin or other open source projects.  Consensus is not a form of democracy: there are no forms of voting, representation, credentials, or gatekeeping involved in a consensus-based system.  Nor does consensus require 100% agreement.  Consensus is an ideal in the sense that, in most cases, there is no absolute agreement between all parties involved.

At the blockchain level, consensus must be maintained by all nodes running compatible code.  All nodes must agree on core parameters such as how many new bitcoin are created per block and what blocks and transactions are valid.  Additionally, nodes must agree on the exact state of the network-which blocks comprise the blockchain and which transactions are included therein.  If nodes disagree on these parameters, the network will fracture and the blockchain will splinter into several chains.  Reconciliation between competing chains is extremely difficult, so maintaining consensus is of utmost importance.

You know, I don't make it out to North Dakota much but I would like to see the 'Western Meadowlark' state bird.  I am a little familiar with the North Dakota 'Wild prairie rose' state flower as well.  However, I do not know much about North Dakota's state tree the 'American Elm'.  Fishing is fun to me perhaps I would like reeling in the North Dakota 'Northern pike' state fish.  Anyway, sorry I went off topic.  Let me continue.

What is a Decentralized Ledger Technology?

To start off with a decentralized ledger is a record of all transactions on a network.  This ledger is maintained and updated by many independent nodes, who collaborate based on a ruleset established by the protocol.  Bitcoin uses a blockchain and a Proof-of-Work mechanism to organize the network and maintain its decentralized ledger.

Traditional banks use centralized ledgers to track balances.  Each bank branch periodically updates this central ledger, but this ledger is neither public nor auditable.  The Bitcoin protocol changes this paradigm by allowing anyone to read and write directly to the ledger.  Anyone is capable of publishing a Bitcoin transaction.  Miners will add that transaction to the blockchain, and anyone can query the blockchain to check their balances and transaction history.

All nodes in the Bitcoin network for instance keep and validate identical copies of the ledger so that there exists no central point of failure or fraud.  Whereas executives at a traditional bank can conspire to arbitrarily change the ledger at their own bank, no one is capable of dishonestly altering the Bitcoin blockchain.  This gives Bitcoin ultimate security and trustworthiness.

What are Exciting Blockchain Uses?

The latest NFT technology demonstrates the benefits of blockchain for the purchase and ownership of file tracking.

Also the tracking of legal document signatures around Real Estate, Legal etc.  tracks ownership of hard assets and agreements.

Countries launching Digital Currencies

1. 105 countries, representing over 95 percent of global GDP, are exploring a CBDC.  In May 2020, only 35 countries were considering a CBDC.  A new high of 50 countries are in an advanced phase of exploration (development, pilot, or launch).
2. 10 countries have fully launched a digital currency, with China's pilot set to expand in 2023.  Jamaica is the latest country to launch a CBDC, the JAM-DEX.  Nigeria, Africa's largest economy, launched its CBDC in October 2021.
3. Many countries are exploring alternative international payment systems.  The trend is likely to accelerate following financial sanctions on Russia.  There are 9 crossborder wholesale (bank-to-bank) CBDC tests and 3 cross-border retail projects.
4. Of the G7 economies, the US and UK are the furthest behind on CBDC development.  The European Central Bank has signaled it will aim to deliver a digital euro by the middle of the decade.
5. 19 of the G20 countries are exploring a CBDC, with 16 already in development or pilot stage.  This includes South Korea, Japan, India, and Russia.  Each has made significant progress over past six months.
6. The financial system may face a significant interoperability problem in the near future.  The proliferation of different CBDC models is creating new urgency for international standard setting.