Craig Wright keynote at Global IoT Summit in Dublin: Bitcoin micropayments can incentivize and foster competition again

Bitcoin creator Dr. Craig Wright joined the Global IoT Summit in Dublin, where he spoke about how Bitcoin SV works symbiotically with IPv6 to empower the Internet of Things (IoT).

An introduction from Latif Ladid

Dr. Wright is introduced byLatif Ladid, founder of the IPv6 Forum. Ladid is passionate about unshackling the internet from the chains of IPv4 and making true peer-to-peer communication possible.

Ladid begins by speaking about how the big telecom corporations have essentially hijacked the internet, making vast fortunes from the current model while attempting to slow down innovation and change. He tells us how IPv4 makes it difficult for devices to communicate because there arent enough IP addresses, but that adoption ofIPv6 is finally speeding up. Currently, 2.5 billion people use it without knowing it in countries like the Unite Arab Emirates and China.

Ladid tells us that IPv6 enables a fundamental shift, and that Bitcoin as digital cash can play a role.

Dr. Wright explains Bitcoin as a peer-to-peer network

Those familiar with Dr. Wrights teachings will already know he is passionate about Bitcoin as a network. He begins his keynote speech by explaining that Bitcoin is a peer-to-peer system; it makes it possible for Alice to interact with Bob, e.g., by sending him a micropayment with no middleman involved.

He then explains how the internet today is controlled by a handful of Silicon Valley monopolies such as Google. Theyll crush you if you try to compete, he tells us. However, Dr. Wright says that t Bitcoinmicropaymentscan incentivize and foster competition again, unleashing a new era of innovation and breaking the stranglehold these companies have over every element of the web.