Seen lots of #“buidl” comments from the #xrpcommmunity. Now, more than ever, you should support changes like Richard Holland’s Hooks for the #XRPL . Let me explain why.

I’ve worked with Richard for several years trying to build on the XRPL. It’s cheap, fast, secure and has the potential to mint tokens. So, why not use it, right? For example, we worked on a self-KYC identity solution called iXRPL. 2/n
It stamps your XRP account with a token from an identity provider that confirms you have KYC’d yourself and allows you to grant single-use access to the underlying data for exchanges seeking to confirm your identity. 3/n
It protects against fraud (e.g. deal only with stamped accounts) and solves the proposed FinCEN rule of KYC’ing private wallets. Everything is encrypted and decentralised and runs on unique consensus protocol Richard developed called HotPocket. We will showcase it soon. 4/n
But for other uses, we kept running into a problem: tokens on the xrpl are controlled by keys, not code. You can split the keys, but you always end up with someone controlling the secrets and those secrets have to be held somewhere. 5/n
This meant XRPL tokens always had a counterparty. And after the SEC action against Ripple everyone can see how important it might be for an asset to have no perceived counterparty. 6/n
It also means there is always a custodian and a honeypot. This is a problem for various reasons, mostly to do with legal liability under various guises, be it Money Services Business, Securities or just consumer law and tort obligations as a holder of someone else’s value. 7/n
This differs from Ethereum where the token can be controlled by the protocol. Contracts have their own address, instead of interacting with accounts. You can throw away the keys and everything still works. 8/n
Richard conceived of Hooks as a way around this problem for the xrpl. Essentially, tokens can be controlled by very small amounts of code, rather than keys. So tokens created on the xrpl can effectively held by the xrpl, rather than any set of individuals. 9/n
The Hooks can then interact with other protocols and “second layers”, allowing more elaborate and sophisticated smart contract platforms to interact with the xrpl to direct how tokens are held/transferred/escrowed etc. Hooks are truly powerful. 10/n
With Richard, I am working on a specialised dapp/smart contract layer able to interact with Hooks on the XRPL (and all other chains). This would bring trustless and powerful smart contracts to the XRPL, including XRP collateralised stablecoins and other forms of defi. 11/n
More soon… follow along if you’re excited for updates early in the New Year. 12/end
Link in first tweet didn't work... learn about Hooks here... https://t.co/iLoNPpIk3n
1/n

More from Law

A Call for Help!
1. we have a petition/open letter for the WHO
https://t.co/Bie8pUy7WJ
2. 372 people signed it but we want to boost it
3. I post link ascomment on related YT videos
Tks @KevinMcH3 for the tip
4. You can help by liking the comments
5. That will increase visibility!


6. Links for YT videos with comments are here
1. China curtails hunt for virus origins
https://t.co/NhcYdtsd2Y
2. China: nearly 500,000 may have been infected in Wuhan
https://t.co/KRUQ5hFrii
3. WHO becomes US-China battleground | DW Documentary
https://t.co/8ah8M8bpiB


4. Gravitas: The 'hidden hunt' for COVID-19 origins
https://t.co/hHhhUqgPYt
5. Seeking the invisible: hunt for origins of deadly Covid-19 coronavirus will take scientists to Wuhan
https://t.co/tCPQqjUZF3
6. WHO team to probe COVID-19 origins in

7. How forensic researchers track down origins of SARS-CoV2
https://t.co/r7A1lkr5li
8. Bats, roadblocks & the origins of coronavirus - BBC
https://t.co/Kh9jacC54t
9. New coronavirus strain is far more infectious and spreading among young - BBC

10. https://t.co/OcpAZ9nrl3
11. https://t.co/OcpAZ9nrl3
12. https://t.co/OcpAZ9nrl3
13. https://t.co/PhmoSfvbD8
14. https://t.co/TsvB7SYN2c
15. https://t.co/0o5YbmiUbJ
16. https://t.co/ir7QiwmlWt
17. https://t.co/PTT3KZDi8F
18.
This issue was repeatedly highlighted bu Judge Totenberg:

Dominion’s system “does not produce a voter-verifiable paper ballot or a paper ballot marked with the voter’s choices in a format readable by the voter because the votes are tabulated solely from the unreadable QR code.”


Judge also found that Dominion's QR codes are NOT encrypted:

“Evidence plainly contradicts any contention that the QR codes or digital signatures are encrypted,”

This was “ultimately conceded by Mr. Cobb and expressly acknowledged later by Dr. Coomer during his testimony.”

Judge Totenberg said there was “demonstrable evidence” that the implementation of Dominion’s systems by Georgia placed voters at an “imminent risk of deprivation of their fundamental right to cast an effective vote,” which she defined as a “vote that is accurately counted.”

Judge Totenberg found that Dominion Systems inherently could not be audited.

She noted that auditors are severely limited and “can only determine whether the BMD printout was tabulated accurately, not whether the election outcome is correct.“

Totenberg stated in her ruling that a BMD printout “is not trustworthy” and the application of an Risk-Limiting audit (RLA) to an election that used BMD printouts “does not yield a true risk-limiting audit.”

Georgia used RLAs to claim no fraud...

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