Desiging Better Systems

Sal Bayat


The Strange Case of Nakamoto’s Bitcoin – Part 1

In actuality, categorizing the mother of all crypto as Ponzi or pyramid is an attempt to fit a square peg into a round hole. Bitcoin is neither, it belongs to a new genus of fraud. It has several specific qualities that make it unique, and many others that it shares with known forms of investment fraud, notably Ponzi and pyramid schemes. By carefully examining Bitcoin’s construction and observing its relations with other forms of investment fraud, we can better understand the inner workings of the Nakamoto scheme.

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About Me

I'm a technologist and 15 year veteran of the Telecom industry. I love to build things, and over the course of my career I have had the good fortune to design and build out a wide array of infrastructure.

Architecture, Infrastructure, & Mobile

In 2013 I was responsible for the architecture, launch, and operation of Text911, one of the world’s first production deployments of text to 911 services, assisting more than 3 million hearing and speech impaired Canadians.  The service is still in operation today.

I have considerable expertise with systems architecture and the breadth of my experience includes datacenter operations, HA OLTP systems, database clusters, high performance data processing networks, and information security.

As Director of Technology, I managed and grew the technical practice of Canada’s largest messaging aggregator, and in 2018 assisted in the sale of Impact Mobile to the UK based CPaaS provider IMI Mobile.

Decentralized Identity

In 2020, I left an increasingly consolidated and centralized industry to found CrossConnect a decentralized identity project enabling reachability. 

The past gives us perspective on the present, and I am particularly interested in the history of Telecom, from telegraph to telephone, and internet to iPhone.  I view Decentralized Identity and the emancipation of End Users, and their data, as the next step in the evolution of networks.

Governance & The Three Concerns

After being exposed to the decentralized identity ecosystem I realized that we were missing frameworks that were needed to properly construct digital systems for users who posses inherent rights.  The Three Concerns is an attempt to define and formalize a governance model that balances the interests of economic exchange in digital ecosystems.