Would you have ever thought that a government entity would publish Satoshi Nakamoto's whitepaper on its official website? Well, these days it was the turn of Estonia and the city of Miami, which for the first time in history have shown how even a government-regulated by institutional laws can have a good approach with bitcoin and blockchain technology. Both of them, in fact, published the very famous document on their webpage.
Introduction
Those who follow Bitcoin know very well the author of the whitepaper Satoshi Nakamoto, who in 2008 managed to create a system that after more than 10 years is gaining the interest of the whole world. This digital currency has been so successful that on 26th and 27th January 2021, the pdf of the whitepaper was published on the webpage of the city of Miami and on the official website of the government of Estonia.
What is a whitepaper?
By definition, a whitepaper is an informative document that is issued by a company or a non-profit organization, to promote or highlight the features of a product or service that it offers or intends to offer to its customers. The Bitcoin whitepaper, for example, contains within it a whole range of useful information that allows you to fully understand how it works.
If you take a look at the official withepaper published on the website of the Estonian government, you will notice that Satoshi Nakamoto has created a sort of guide with a summary and an introduction, in which he explains in detail the mechanism of a currency that today has captured the attention of millions of users around the world.
Where was the whitepaper published?
Estonia's website
Specifically, Estonia wanted to publish Bitcoin's withepaper on the e-Residency website, a government webpage specifically designed for those who need to obtain a residency certificate. The mechanism is quite different from that of some countries, as every foreign citizen is offered the opportunity to obtain a ''digital residency'' issued directly by the state of Estonia.
In this way, bureaucratic processes are greatly accelerated, and foreign citizens are able to use the services provided by the State Agency, but also by the private sector, at will. This represents a huge step forward in the approach to new technologies, which are often not understood by those countries that tend to be conservative and "backward".
In fact, Estonia is one of those few countries that see cryptocurrencies as an asset that should be taken into consideration, and not as something that represents a threat or a scam, which often happens in some nations.
Miamigov's Website
As for the publication of the whitepaper by the city of Miami, the initiative was taken by Mayor Francis Suarez himself, who stated in a tweet that he is working hard to make his city a true benchmark for innovation in the crypto sector.
As of today, Miami ranks as the first-ever municipal government to host Nakamoto's whitepaper on its official website, putting it ahead of other cities that are still hesitant about cryptocurrency acceptance.
The reason for publishing the whitepaper
Estonia
Obviously, many are wondering why Estonia wanted to publish the Bitcoin whitepaper on a government website. Giving the answer is the government itself, which published the following words on its official page:
"Estonia has been using a blockchain technology called Keyless Signature Infrastructure to ensure the integrity of key government data and systems since 2008.
Since then, we have seen a global increase in the demand for systems to increase the security of cross-border business transactions, both with the Bitcoin architecture introduced by Satoshi Nakamoto's whitepaper and with the world's first e-Residency concept launched by Estonia in 2014.
We are happy to keep the original Bitcoin whitepaper here on our website as a source of inspiration for future innovators looking to understand how to use blockchain technology for the benefit of facilitating cross-border exchanges and other applications.
As far as we know, this is the first time the original Bitcoin whitepaper has been hosted on a government domain."
It is evident how Estonia simply wants to inspire bright and innovative people to use blockchain to solve everyday problems, such as cross-border transactions. As pointed out by the Estonian government, this is the first time ever that a government entity is hosting a whitepaper like Bitcoin on its domain.
Moreover, this could also be a way to convince other states to consider the currency as a useful asset for both governments and citizens.
Miami
Similarly, Miami also released the whitepaper to become a source of inspiration for other cities. As illustrated on their official website, Miami is striving to become a model of an innovative city to take inspiration from, supporting new technologies that challenge the status quo. Bitcoin, according to Mayor Suarez, is a technology that can transform the world, as it allows anyone to exchange value without any intermediary like banks.
Operating for over a decade without a hitch, bitcoin is seen by many experts as the next big store of value, somewhat like a kind of digital gold. With that in mind, Miami is scrambling to figure out how to use the currency and related technologies to attract big businesses and entrepreneurs.
Conclusions
Day after day, we see endless innovations in the world of cryptocurrencies and blockchain.
Recently, it seems that even government agencies are showing more interest in this sector, so much so that some large institutions hold large amounts of digital currencies.
However, Estonia has made great strides, leveraging blockchain to simplify bureaucratic processes that used to take forever.
On the other hand, cities like Miami seem to have excellent plans for the future and are changing their approach with innovative technology.
Will other states be able to follow suit, and make these technologies useful for everyday life as well? Will the world's populations be able to have free access to these currencies? The solution, as usual, is to never fall behind and keep up to date.
*This article was translated manually and with a translator software from my original post on theledger.it, so I'll attach the link to my article here.
Learn More
- https://theledger.it/approfondimenti/bitcoin-dalle-origini-ai-giorni-nostri/
- https://theledger.it/approfondimenti/le-attivita-di-estrazione-dei-c-d-mining-cartels-questioni-di-centralizzazione/
- https://theledger.it/news/for-fun-curiosita/il-bitcoin-mining-arriva-nel-circolo-polare-artico/
Bibliography
- https://e-resident.gov.ee/bitcoin-whitepaper/
- https://cryptonomist.ch/2021/01/27/estonia-pubblica-whitepaper-bitcoin/
- https://e-resident.gov.ee/wp-content/uploads/2021/01/bitcoin.pdf
- https://e-estonia.com/solutions/security-and-safety/
- https://www.miamigov.com/Government/City-Officials/Mayor-Francis-Suarez/Bitcoin-White-Paper
- https://mobile.twitter.com/FrancisSuarez/status/1354488469091975168?s=20
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