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To wrap up Day 2 of theLondon Blockchain Conference,Dr. Craig Wrightparticipated in a technical Ask Me Anything (AMA) hosted by the Director of Engineering at theBSV Blockchain Association,Jad Wahab. Dr. Wright answered both technical questions related to Bitcoin and some personal ones.

How does Bitcoin work at scale with large volumes of data propagated across the globe?

Dr. Wright begins by saying that, at scale, Bitcoin is private. Its all aboutmicropayments. He envisions that someday, Bitcoin will be able to do nano transactions worth a millionth of a cent and will do billions of them per second. He acknowledges that its not ready for this yet, but he is determined that it will get there.

At this sort of scale, new business models can be created, and a true social impact can be made. Bitcoin will literally change the world, acting as global plumbing for all sorts of new use cases.

How will Bitcoin be able to scale to these levels? Dr. Wright explains that theMerkle Treestructure allows for sharding across multiple nodes, and this allows for horizontal scaling. Many dedicated Bitcoiners are still working on this, and it will take a while before its a reality. He also says that, as part of his geography degree, hes been thinking about where to place machines to reduce latency.

How important are strong legal foundations for Bitcoin?

Dr. Wright has often spoken passionatelyabout the law and how it applies to Bitcoin. He elaborates further here, saying that the law protects us and holds us all accountable. He says that even good people do not remain good withoutaccountabilityof some sort. In the global village, the law is needed because tribes dont scale.

What is the role of the BSV Blockchain Association in providing stability?

Dr. Wright says it is there to see and implement the grander vision for Bitcoin, keep the protocol stable, and prevent the protocol from being changed the way it has been since he stepped back as Satoshi Nakamoto. The intention is that if someone builds an app today, it will still work decades from now.

What does Dr. Wright need to see so that he can step back? He answers similarly that he needs to see aprotocol set in stoneand that legal agreements are in place for this reason.

How vital is language and getting definitions such as nodes and decentralization right?

Dr. Wright answers that its very important. He studied philosophy, and part of that involves debating at length about the meaning of things. He notes that terms likedecentralizationhave been twisted and changed and are used differently than when he released Bitcoin.

What does the world look like when hyperbitcoinization occurs?

Dr. Wright reemphasizes his view that Bitcoin can be plumbing. It could be everywhere, and he would love to see that. It could be involved in payments, remittances, and all kinds of other things. However, it wont dominate as some people say; its a technology, and only people can dominate others.

Where did Dr. Wright pick up his love of learning, and what qualities does he look for in people he works with?

Dr. Wright says he doesnt know where he got his love of learning, but he remembers his mother forcing him to go and play outside when he was young. Hed study too much, and she would encourage him to go out and play with other children.

As for the qualities he looks for in people he works with, drive, determination, initiative, and the desire to create change are some of them. He says he prefers to tinker with technology and invent things, but he has realized that he was to lead as well, and he wishes hed realized this earlier.

Does speculation have any value?

Dr. Wright says it depends on the type ofspeculation. Buying a tanker of oil from someone who no longer wants it is useful, but the type of speculation we have in the industry is not.

Watch: The Bitcoin Masterclasses provides deeper understanding of the tech

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Bitcoin at scale is all about micropayments: London Blockchain ... - CoinGeek