BC-1.1.4 The perfect ledger

So now you know that humanity keeps
striving to improve their current ledger. And as mentioned: ledger evolve, society evolve But in our thrive towards a perfect ledger, we first of course need to define what a “perfect” ledger is. There are some very interesting articles,
you can find them in the further reading, which gives some properties off a perfect ledger. Bottom line here is that a perfect
ledger has no, so NO, transaction costs. So what does this mean? Basically (“costs” are) a friction, or a wall, or a slow-motion, or something that you need to pay. A “cost” between transferring value from person A to person B. So what does this mean? It should be instantly. So when we take the example where you are on the sidelines recording your friends. So of course there is not only a moment in time because you first need to witness this and then you need to record it, but also because you are doing this on your own: you can make errors, you can get coerced, you can cook the books. Whatever you want. There are multiple risks there as well. Well…it isn’t perfect, it isn’t a perfect ledger. So what is a perfect ledger? A perfect ledger MIMICS the REAL WORLD as best as possible Or, not “as best as possible”, it mimics the
real world! So let me rephrase that one: a perfect ledger equals the real world. So transactions are instant for example, there a no intermediaries recording transactions etc. So basically there are no thresholds, so no “costs” to do a transaction (no friction!) And while we’ve been continuously growing towards that perfect ledger, so for example it’s currently lighter… So let’s say…. this (USB) is way lighter than a big heavy clay tablet. I can record more things on this, than on a clay tablet. I can make it digital, I can transfer it etc. You see where I’m going at. But of course this is not a perfect ledger. While we keep on moving and keep on improving towards that final goal, zero transactional costs, we keep letting society grow with it. So in the next slide you can see an overview of the perfect ledger with the properties. I suggest you should read that on your own. I think you now have a decent
idea of what we strive towards to: to a perfect ledger. Keep in mind of course that a blockchain is not a perfect ledger. It’s just another step
towards that “perfection”! See you next one 🙂

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