Everything changes over time—the introduction of new people and ideas is bound to have an impact on something’s original shape, whether it be a business, a blockchain, or a work of art.
In his latest blog post, “A Discussion of the Academies of Art Established in the Seventeenth and Eighteenth Centuries,” Dr. Craig Wright looks at the progression of art from its earliest days throughout the eighteenth century. Like anything that stands the test of time, Dr. Wright’s post reveals that even though art transformed from era to era, the pieces of work that were created often paid homage to their predecessors and previous periods of art.
“Art academies were principally constructed to instruct and train young artists with a set of codes and foundational principles,” said Dr. Wright. “Artists would emulate contemporary forms. In some ways, such principles emulated academic scholastic forms that sought to perfect existing styles and that avoided innovation. Art looked back, and attempted to capture the classics. An artist would provide homage to the greats that preceded them, whilst seeking to elevate their art.”
Although Dr. Wright’s article explores art and philosophy, there are several parallels between the development of blockchain technology and art history. Bitcoin began as the tangible form of Satoshi’s whitepaper (its foundational principle), but over time, it changed form due to individuals “seeking to elevate” the blockchain. However, this is where a lot of developers went wrong.
The Bitcoin whitepaper left tons of room for artists to elevate the art without obstructing its founding principles. However, the artists working on blockchain protocols elevated the art without using the foundational principles as guidelines. In some cases, they disregarded the foundational principles entirely. This is why we see both BTC and ETH running into obstacles as the price of digital currency rises. Both networks are now at a point—or approaching a point—where the transaction fee is more costly than the amount of money users are looking to send. This makes no sense, especially in the case of BTC, because Bitcoin was described as peer-to-peer electronic cash in the Bitcoin whitepaper.
To learn about the future, it does not hurt to take a look at the past. In Dr. Wright’s latest blog post, “A Discussion of the Academies of Art Established in the Seventeenth and Eighteenth Centuries,” you will learn all about the progression of art over the years; and while reading, you are bound to see several similarities between art history and the development of the blockchain industry.
You can find Dr. Wright’s latest article as well as his previous work around Bitcoin and blockchain, alternative coins and systems, law and regulation, economics, mathematics, and philosophy at CraigWright.net.
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