Bitcoin Masterclasses #3 highlights: Accounting and charting transactions on the chain

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The third edition of The Bitcoin Masterclasses series, led by Dr. Craig Wright, took place at the Marriot Zurich on 22-23. March and was an absolute pleasure to attend.

This immersive learning experience included local nChain staff and a handful of Zurich-based professionals working closely with nChain, an intimate setting of design. Each Masterclass is live-streamed and recorded, so anyone interested in unlocking Bitcoin’s true potential is encouraged to attend remotely in real-time or afterwards, free of charge.

Accounting and on-chain transaction mapping was the focus of this masterclass, where Dr. Wright graciously delved into topics such as double-entry, triple-entry, NFTs, tokenization, swaps, smart contracts and more.

“That’s Craig from 2005. What Craig is at his core is an educator and a mentor,” Stephan Matthews, co-founder and executive chairman of nChain Group – also a close personal friend of Dr. Wright – confirmed after attending the first thing in the morning. sessions.

“You understand that Craig is not just a technologist, he’s not just a guy who created blockchain and Bitcoin. He’s a guy who has an extraordinary range of knowledge around economics and business and accounting and finance and manufacturing and law and all these areas , he said.

“And I think what our people get from these sessions is invaluable,” Matthews added.

Zurich-based Nicolas Wellinger, CEO and founder of Aliigon, consults with tech startups and attended the workshop to educate himself and stay “ahead” of his clients.

– I think the format is very good. There are parts of it that reminded me a bit of university lectures, but much more practical,” Wellinger said of the Masterclass.

“I was a little hesitant coming in here today because I thought if it’s too technical, I might not be able to get things. But [Dr. Wright] really kept it at the business and utility level, and it was very interesting to leave the technology to the tech people and the business stuff to the business people,” he said.

Dr. Daniel Diemers, co-founder and partner of SNGLR Group, a local investment professional, shared the stage with Dr. Wright during CoinGeek Zurich a few years back. He describes Dr. Wright as “a true scholar” and “true visionary.”

“I enjoyed the lecture he is giving here today, the workshops. And I think today it’s more about how the data layer like the blockchain creates trust. And this is going to be critical for the future, said Dr. Diemers.

Patrik Prinz, longtime Bitcoin advocate and managing partner of fintech company Monetix, is a Zurich local and found his time at the masterclasses most valuable.

“First of all, I want to highlight what Craig is sharing here. Most of the markets, most of the people you talk to about Bitcoin, wouldn’t really connect to the topic. We have two full days here to talk about accounting methods, processes and how Bitcoin is extremely relevant for that,” Prinz pointed out.

“It unlocked for me a lot of ideas, I have like two pages of notes, with business opportunities, but the existing industries it can serve a huge amount,” he said.

CFO Torje Vingen Sunde participated in the Masterclasses on behalf of UNISOT, blockchain-driven technology for sustainable supply chains.

“My background is in auditing and I came here with ideas on how to actually make auditing more efficient using Bitcoin technology and having a set of ideas. And to come here and it’s like that there are ten times more things you can actually do with this, said Vingen Sunde.

“And that’s just in a short period of time to learn so many things that we can do … to actually be able to talk to Craig and talk about ‘okay, what did you really mean here’? It’s amazing, la he to.

One of the themes Dr. Wright circled back to again and again throughout the Masterclass was how automated processes using blockchain technology could help eliminate the infamous “garbage in, garbage out” problem when it comes to computing.

“So the first thing we have to do is make sure that all the input is done correctly. But once we’ve checked that and we’ve validated what we’ve been given, we want to make sure that we never have the right or the ability to change and changing it, but rather handing information, just machine to machine with, hashes, checks so that nothing ever changes,” he explained.

“So one of the problems right now is that every time you give something to someone and they re-enter it into a computer instead of automatically entering the data, people have to enter numbers and they can type wrongly and they have the wrong values , etc.,” he said.

Dr. Wright’s lessons during the Bitcoin Masterclasses series are so powerful because of how he shares personal experiences with students, creating a clearer picture of where some of his ideas about Bitcoin came from and how they fit into a master plan.

“It makes us understand where his thinking came from when he created Bitcoin. And it allows us to understand how many of these different concepts come together to form Bitcoin as a holistic approach, a process,” Prinz shared.

“I think there are a lot of technical disruptors out there who have really interesting solutions that are only looking at part of a problem and trying to disrupt part of it. Whereas when you go to a Masterclass like this and talk to people like Dr. Craig Wright, he’s almost like a holistic practitioner who looks at it from end to end. And then you see how it really makes sense,” Wellinger added.

See: How to use IPv6 and Bitcoin

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