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Burak Arikan

@arikan

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61 Followers
Burak Arikan pfp
Burak Arikan
@arikan
The Cycles whitepaper is out, introducing a new cryptoeconomic primitive: a peer-to-peer electronic clearing system. Here's how it works: I owe you, you owe them, they owe me—we settle debts within our circle without any payments. If the amounts owed differ, we clear the smallest amount. Larger cycles save even more liquidity. The entire obligation graph and settlements are private and verifiable using ZK-TEE private computation and blockchains. I came across @cyclesmoney and collaborative finance during our reading group with @buchmanster. Having reviewed the early version of the paper, I'm excited to see it finally released! https://x.com/cyclesmoney/status/1859612788165099758
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Burak Arikan
@arikan
Came to Buenos Aires for Avalanche Summit and blockchain tech, stayed for the nature and history, connecting colonialism to central banking. Flew over Rio de la Plata to the stunning Iguazu. Mucho mariposa! 🦋🌳🌊 On the way, I learned how, in the 16th and 17th centuries, Spain’s extraction of silver and gold from Latin America, exploiting native labor, expanded state credit. Genoese bankers lent money to monarchs against future metal shipments. This evolved into systems where government debt was structured as tradable assets, leading to bond markets, early public debt management, and central banking functions like government debt and currency management.
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Burak Arikan pfp
Burak Arikan
@arikan
Arrived in Buenos Aires 🇦🇷 for Avalanche Summit LATAM! Join us tomorrow if you are interested in future-proofing your L1 chain: Thu, Oct 17 at Blanco Stage: 📍 15:40 PM- Valtz: Validation Futures for Sovereign Blockchains https://reg.avalanchesummit.com/flow/avalabs/avlsummitiii/sessioncatalog/page/sessioncatalog/session/1726618270938001SrSB Valtz co-conspirators: @erdogan & @bf
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Burak Arikan
@arikan
Farcaster, Lens, and other Web3 social protocols need good filtering for bots and trolls to ensure we're building and engaging with real communities. Handle fees, feed algorithms, and user reporting don’t seem to be enough. Who is tackling this issue?
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Burak Arikan pfp
Burak Arikan
@arikan
Read more from my article which discusses the medium of money through the lens of the trust context in which it operates. https://mirror.xyz/burakarikan.eth/lQf0yCBX_STw60eFbGzaFs4sRsdjEWfhgU4Q_IkjfRg
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Burak Arikan pfp
Burak Arikan
@arikan
5,000 years ago in Mesopotamia, you could deposit your grain in a secure storage facility and receive a grain token, while I could do the same with my wine. Then, we would simply exchange these tokens, which could be redeemed for the actual goods in storage, settling our debt. This is how money worked in Sumerian towns as they began trading their agricultural surplus, initially using clay tokens for counting, then for accounting, and eventually for administration. These clay tokens were stored in clay envelopes for safekeeping. The contents of the envelope were recorded on clay tablets before sealing. This practice was, in fact, an early form of double-entry bookkeeping. Credit money, based on trust between community members or a network of traders, has been widely used for centuries in forms such as vouchers, notes, and bills of exchange. Whereas, outside of the community, when trading with strangers, a different form of money was necessary. Read more👇 https://x.com/ameensol/status/1828099590329143351
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Burak Arikan
@arikan
Reading The Origins of Modern Bureaucracy, a section in @thejaymo’s research “World Running”. ✨🐋📞
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Burak Arikan
@arikan
🕊️ https://x.com/wikileaks/status/1805390138945528183
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Burak Arikan pfp
Burak Arikan
@arikan
<<< Sketch 5 >>> https://orb.club/p/0x018bee-0x0d
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Burak Arikan
@arikan
<<< Sketch 4 >>> https://orb.club/p/0x018bee-0x0c
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Burak Arikan pfp
Burak Arikan
@arikan
<<< Sketch 3 >>> https://orb.club/p/0x018bee-0x0b
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Burak Arikan pfp
Burak Arikan
@arikan
<<< Sketch 2 >>> https://orb.club/p/0x018bee-0x0a
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Burak Arikan pfp
Burak Arikan
@arikan
Dropping 5 sketches for a multi-layer data-network collage map. Selected from various interactions with Midjourney v4 in Dec 2022. Open edition minting for 7 days on Lens👇🏽 <<< Sketch 1 >>> https://orb.club/p/0x018bee-0x09
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Burak Arikan
@arikan
Edison and Ford were app makers for the fossil-fuel “platforms”. https://x.com/culture_crit/status/1803462916902985825
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Burak Arikan
@arikan
Critical statement by Signal's CEO Meredith Whittaker exposes the EU Parliament's double speak on undermining end-to-end encryption in private chat. https://x.com/mer__edith/status/1802612199426306150
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Burak Arikan
@arikan
The US political class is now waking up to the fact that stablecoins are a new channel to sell US debt to the masses, primarily to citizens of financially troubled countries. https://www.wsj.com/articles/stablecoins-could-stave-off-a-us-debt-crisis-china-digital-currency-c491d717
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Burak Arikan
@arikan
In the age of 21 trillion AI agents, those ones that trust one another could use credit money, while others continue using the hard internet money. Read more: https://mirror.xyz/burakarikan.eth/lQf0yCBX_STw60eFbGzaFs4sRsdjEWfhgU4Q_IkjfRg https://x.com/emostaque/status/1801895336685826097
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Burak Arikan
@arikan
Why? Despite US debt being at an all-time high, China's holdings of US Treasury bonds are at a 14-year low. See how much countries hold in US Treasury bonds: https://ticdata.treasury.gov/Publish/mfh.txt The Chainanalysis Report https://x.com/mlphresearch/status/1800872612421406844
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Burak Arikan
@arikan
According to Chainalysis, Turkey is the leading country for purchasing dollar stablecoins, accounting for 4% of its GDP. The US has found a new way to sell its debt through stablecoins, with issuers holding an equivalent value of T-bills. This strategy targets citizens of financially troubled countries like Turkey.
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Burak Arikan
@arikan
Helsinki Citizens’ Assembly and the World Social Forum are examples of citizen assemblies. They use a variety of tools and methods for collective decision-making, but nothing verifiable on-chain as far as I know. https://en.wikipedia.org/wiki/World_Social_Forum
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