# data[].attributes.headline
Room 7 - Cheryl, Daryl, Janan, Kelvin, Rebecca

# data[].attributes.subject
Room 7 - Cheryl, Daryl, Janan, Kelvin, Rebecca

# data[].attributes.body
1. Why is social scalability important?
- Improve motivations for information quality
- Reduce the need for trust within certain kinds of institutional transactions

2. What is the relationship between trust and social scalability?
Humans are evolved to trust and has become part of a social normal. To scale socially, need trust.
High trust, Low potential for harmful behaviour = More socially scalable

3. What do you mean by “Social Scalability of Network Security”?
The larger the scale, the more the number of malicious actors and challenges to network security. Blockchains sacrifices performance for social scalability and network security.

4. Why is decentralisation means more secure?
Decentralization — for cryptocurrencies or other applications — means that the number of points of failure is roughly equivalent to the number of the computers that constitute a majority or sizable portion of the network in some respect. Thus, decentralization increases the number of points of failures, which therefore makes systems more robust and hence secure.

5. Why do you think Bitcoin has or has no value?
Bitcoin has no intrinsic value, since it is not backed by anything. The value of any currency comes from the backing of the state and the trust that people have over the government. Therefore, trust and social scalability for Bitcoin is important as it gives Bitcoin value.

# data[].attributes.headline
Group 3 - Fidel, Ryan, Ben, Weiming, Kokhao, Junwei

# data[].attributes.subject
Group 3 - Fidel, Ryan, Ben, Weiming, Kokhao, Junwei

# data[].attributes.body
1. Why is social scalability important?
Decentralization - Get more people to participate in decisions
Get Institution to diminish oneself.
To overcome shortcomings in human minds and in the motivating or constraining aspects of said institution that limit who or how many can successfully participate.

2. What is the relationship between trust and social scalability?

The predominant direct social scalability benefit of blockchains is trust minimization. A blockchain can reduce vulnerability by locking in the integrity of some important performances (such as the creation and payment of money) and some important information flows, and in the future may reduce the vulnerability of the integrity of some important matchmaking functions

3. What do you mean by “Social Scalability of Network Security”?

It refers to the scalability in terms of trust of the system, usually root-trusting security in most traditional networks. As such network security scales socially with more people, fewer mutually understood habits of and constraints on behavior are added, increasing the vulnerability of the network in terms of trust. Social scalability thus, refers to network security being resilient to such vulnerability as much as possible as it grows through trust minimisation.

social scalability is about increasing number of people + increase participation rate. and also the types of participants. For network security, it traditionally lies in mostly root access. For example, for a server, a single administrator is able to control the data stored within, etc.

So, social scalability of network security refers to possibly the decentralisation of these networks. Such that nobody can control 100% of the network, and falsify these data. In such instance, less trust is needed as more participants are involved due to social scaling.

4. Why is decentralisation means more secure?
Rather than by the traditional accountants, regulators, investigators, police, and lawyers, we go from a system that is manual, local, and of inconsistent security to one that is automated, global, and much more secure.
Decentralised block chain computers will allow us to put the most crucial parts of our online protocols on a far more reliable and secure footing, and make possible fiduciary interactions that we previously dared not do on a global network.

Computer science secures money far better than accountants, police, and lawyers. While Bitcoin's automated integrity comes at high costs in its performance and resource usage. Nobody has discovered any way to greatly increase the computational scalability of the Bitcoin blockchain, for example its transaction throughput, and demonstrated that this improvement does not compromise Bitcoin’s security.

5. Why do you think Bitcoin has or has no value?

Bitcoin’s value lies in where people put their trust - Community VS Central Authority
If there is no trust in central authority, bitcoin has value. Venezuela for example.
If there is trust, then bitcoin has no purpose, thus no value.
Bitcoin will have no value if people have trust in the government or the central authority.

# data[].attributes.headline
Room 2 - Jie Ying, Azhari, Xin Ying, Jing Yi, Li Ting, Lina

# data[].attributes.subject
Room 2 - Jie Ying, Azhari, Xin Ying, Jing Yi, Li Ting, Lina

# data[].attributes.body
1. Social scalability (relates to the behavior tendencies of minds) is important as it overcomes the problem of having good and malicious actors in the same system. The benefits of participation will encourage adoption, without social scalability no one will voluntarily contribute.

2. When there is social scalability, the need for a single trusted party will be minimized (trust minimisation). Social scalability reduces the vulnerability of participants to each other’s and to outsiders’ and intermediaries’ potential for harmful behaviour by locking in the integrity of important performances and information flows.

3. Social Scalability of Network Security means that social scalability comes at the cost of an increase in vulnerability to harmful behaviour and network security.

4. Decentralisation eliminates the reliance on centralised providers which can be easily attacked. Dencentralisation allows for security through compartmentalization.

5. Bitcoin has value based on the trust that it can be exchanged on the market and willingness of people it as a form of exchange in the market. Its value is present as long as the market invests in it

# data[].attributes.body
https://unenumerated.blogspot.com/2017/02/money-blockchains-and-social-scalability.html

# data[].attributes.attachment_link.title
Money, Blockchain and Social Scalability

# data[].attributes.headline
Group 1: Deevak, Felicia, Patrick, Rachel, Chu Gin Ng, Hai Jing Cheong, Wong Jia Ren

# data[].attributes.subject
Group 1: Deevak, Felicia, Patrick, Rachel, Chu Gin Ng, Hai Jing Cheong, Wong Jia Ren

# data[].attributes.body
Q1. Social scalability is important as to overcome shortcomings in human minds and in the motivating or constraining aspects of said institution that limit who or how many can successfully participate. It allows participants to think about and respond to institutions and fellow participants as the variety and numbers of participants in those institutions or relationships grow.

Q2. Modern IT has reduced the need for trust within certain kinds of institutional transactions, with respect to an increasingly large number and variety of people, thereby further increasing social scalability in some very important ways. It therefore reduces the vulnerability of participants to each other’s and to outsiders’ and intermediaries’ potential for harmful behaviour

3. Social scalability of network security: as more people have access to the network, it becomes more vulnerable as a greater amount of resources are pooled together, making it available to everyone who has access to the network. Moreover, with more people (who may not necessarily have an understanding and constraints of the network’s behaviour) joins the network, security may become compromised as breaches may occur.

4. Decentralisation is more secured as data is protected with blockchain, with information spread across many files. Even if hackers manage to decrypt a single file, decentralisation offers security through compartmentalising – infiltrating one single blockchain will only provide a partial file as opposed to a centralised system, whereby a single successful attack will grant access to all other files.

5. Blockchain has value because it makes transaction costs lower and more seamless. It allows for exchanges of a greater variety of goods and services involving exchanges and other wealth transfer relationships with a much larger number and much wider variety of people. As the blockchain network to can operate seamlessly across borders without human intervention, it can foster global economic growth with increased financial inclusion. This gives access to more goods and services, as well as, money previously not in the global circulation.

# data[].attributes.headline
Breakout Room 4 – Wee Yang, Liang Kai, Alvin Loo, Lee Si Ling, Oon Jui Soh & Jeremy Luke Ong  

# data[].attributes.subject
Breakout Room 4 – Wee Yang, Liang Kai, Alvin Loo, Lee Si Ling, Oon Jui Soh & Jeremy Luke Ong  

# data[].attributes.body
1.Why is Social Scalability important?Social scalability – Ability of an institution to overcome shortcomings in human minds; Enabling a multitude of people to successfully repeatedly participate. Crucial as it estimates the number of people who can beneficially participate in the institution, along with the extra benefits and harms that institutions imposes on its participants.                                             2. What is the relationship between trust & social scability?Direct Correlation – As social scalability increases, the more participants have trust in the system/institution. The predominant direct social scalability benefit of blockchains is trust minimization, where it reduces the vulnerability of participants to each other’s and to outsiders’ and intermediaries’ potential for harmful behaviour.                                                 3. What do you mean by ”Social Scalability of Network Security”?Social scalability of network security talks about the security of the network to which the people in the network fully trust. This is still a problem today as the traditional centralized root security of the network scales poorly and with the case of having more computers with more valuable concentration of resource joining the network, there is greater impact from the illegal access of those documents from network administrator who were fully trusted or from hackers as well.                              4. Why is decentralisation means more secure?Replaces a system that is manual, local, and of inconsistent security to one that is automated, global.                                                        5. Why do you think Bitcoin has or has no value?                                               Has value as it exhibits the following characteristics of money/fiat currency: - Medium of Exchange.                             -  Limited Supply                                        Additional Characteristics:                       - Ability to operate seamlessly across borders                                                        - Independence from existing institutions for its basic operations.       - Fungibility (Interchangeability)              - Durability.  - Divisable

# data[].attributes.headline
Group 6 - Beldric, Caspar, Grace, Dominique, Pearlina, Hui Chen, Jin Woo, Kian Ming, Uthara

# data[].attributes.subject
Group 6 - Beldric, Caspar, Grace, Dominique, Pearlina, Hui Chen, Jin Woo, Kian Ming, Uthara

# data[].attributes.body
1. Ability where people repeatedly participate, and can be estimated by the number of people that beneficially participate in the institution. Without it, participation of shared human endeavors would be limited to about 150 people.

2. Trust & social scalability –by reducing the need for trust in others, there is increased social scalability.

3. The social scalability of network security refers to the increase of users leading to an increase in malware attacks as attacks will happen more frequently due to the traditional network scaling poorly as they were initially built for small communities.
There's a growing trend of valuable information and resources stored on networks which and this poses as a motivation for attacks and thus, an increase in social scalability would jeopardize network security.

4. As it distributes the data across multiple nodes. If one node is hacked, the other node presents as a failsafe that increases security.

5. Bitcoin has no inherent value and only has value directly proportionally to its social scalability.

# data[].attributes.headline
Breakout Room 5 - Kailin, Edwin Lim, Vivian, Pei Wei

# data[].attributes.subject
Breakout Room 5 - Kailin, Edwin Lim, Vivian, Pei Wei

# data[].attributes.body
1. Social scalability allows for two strangers to transact across institutional and national borders. It removes the need for a trusted third party and incentivizes participants to act within the confines of a predefined yet mutually beneficial network.
2. When there is a higher degree of social scalability, trust will minimize. Participants no longer have to rely on trusting another party to transact, instead they will rely on the collective interests that would mutually benefit those within the system
3. Traditional computer security is not very socially scalable and increasing number of computers containing valuable resources motivates attacks. Thus, blockchains can be better for many important computations with strong security
4. No central governing regulation and concentration of power is spread out.
5. Bitcoin depends on social scalability to create value. There is no value to the coin if no one is interested.