Measuring Value

Mark S Miller advised Eric Muyser with a project in the crypto-commerce to read an essay by Nick Szabo for insights on Measuring Value. page


Subsequently Eric is in Tokyo, and we helped make introductions to Makoto Takemiya of Soramitsu. Who heads up Hyperledger Iroha. A project going about consensus differently. page


Eric has reported the Tokyo blockchain industry is feverish with crypto-projects. Folks are even building token-on-token blockchain exchange networks. Which brings up how to measure value to exchange value.

In April this year, Japanese legislation came into effect that defines bitcoin and other virtual currencies as form of payment to be treated as an asset (rather than a currency). In doing this, Japan became the first major economy to bestow that legitimacy on it. paywall  

Szabo feels the valuing intangible assets is the accounting challenge of our time. That tax collectors are generally the most efficient at measuring economic value. Yet according to Szabo measuring taxes is often based on measuring costs, misvaluing economic value.

Vise versa, if we imagine how to tax wiki content we should be able to value wiki content. The contra could be true. Ward wrote out how wiki comes to consensus, thus creating value, perhaps the network is measuring value? page