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Facebook coin and the 5 PILLARS of Blockchain by mastercore

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· @mastercore ·
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Facebook coin and the 5 PILLARS of Blockchain
<center>![](https://cdn.steemitimages.com/DQmVZhkAtgcbwKD7kECrCTBBG1Sc9omzgicQYANM9bqq7Qh/image.png)</center>
There is much hype starting around the warming up of large corporations and financial institutions to the concept of cryptocurrencies. Unbeknownst to the majority, what is happening is a fake virtue signaling and attempt to coopt the idea of cryptocurrencies and relegate the real thing to the shadows of public perception. The "blockchain, not bitcoin" mantra of 2016-2017 was the first attempt  at this, and it will not be the last.

#Facebookcoin will be the next volley of fakery

The purpose of this post is to educate on and elaborate on how one can tell a fake from the real thing!
# <center>5 Pillar of Crypto</center>
### OPEN
* There must be no restriction on who can participate in the system
* This includes running nodes, mining, verifying etc.
* There should be no restrictions except perhaps pledging capital or hardware
* There must be no connection to your identity to participate
### PUBLIC
* Somewhat overlaping with OPEN, this reiterates that access to all parts of the system are open to all
* The SW must be open source and accessable to anyone pending technical knowhow.
* There can be no vetting process or gate keepers to accessing all parts of the system
### NEUTRAL
* The system must be inherently agnostic to race, nationality, location, means, etc...
* Again, absolutely anyone must be able to have access to private key generators without any restrictions or applications.
### BORDERLESS
* The system underpinning it must be completely ignorant to any kind of borders
* All transactions must flow freely with interruptions only due to networkcentric sources that are agnostic to users.
### CENSORSHIP RESISTANT
* There must be no way for anyone to be able to block a transaction.
* Verifyers must be anable to target any kind of censorship of transactions

Can you think of any ways of elaborating this list to make it more complete?
This video by [Andreas M. Antonopoulos](https://www.youtube.com/watch?v=OjTQAkem-VU) does a great job of explaining this concept and how it relates to things like facebook coin
👍  , ,
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vote details (3)
@arthursen ·
Central Banksters might have a problem with 'Censorship Resistant', they want control, which means the ability to censor what they don't like, the 4 other things are fine with them.
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