Why the R3CEV Blockchain consortium is splintering & what ...

How does the Blockchain Technology Change the Finance?

01 Through Cross-Border Payment , New Asset Types and other Regulatory Compliance Many large banks, central banks, financial institutions, idea banks, inquiry companies and the futurology reasearch laboratory of government committee all raise their questions on this issue.
R3CEV, an organization which is composed of the large banks in the globe, is trying to make explanation on this issue. The Goldman Sachs, McKinsey and Consumers’ Research had been put forward fabulous reports based on this issue, while the UK government, the US senate, Canada, Australia and European Union also carry out related surveys on it.
Many startup companies has made the white paper for the innovation and application of blockchain technologies, among which will mention a larger social issue, “How does this technology change the society?”
Plenty of studies underline the following four major changed fields:
02 The Infrastructure of Cross-Border Transactions
As we all know, the digital revolution has changed the media thoroughly, which will also have influence on the financial industry to some degree. Besides, the financial organizations had been used the computer long before. From 1970s to 1980s, they set the computer as their databases, take advantage of the computer to create the website interface in 1990s and shift their focus on developing the mobile App in 21rst century. However, the digital revolution has little influence on the cross-border transaction. The West Union still remains big problems, since it uses the same business to operation related programs. Like the easy operation of cross-border remittance, the bank still use the complicated infrastructure to operate it.
The information chart below is provided by Richard Gendal Brown, it displays the development of cross-border business infrastructure and intermediary organs from 1970s till now. This structure is the outcome caused by the financial industry applying the high-security protection system on private database.
The Blockchain technology is to construct the direct relation between the financial institutions and does not need the correspondent banking any more. The main product of R3 aims at deal with the business of correspondent banking. Corda is consisted of two vocabulary “accord” and cord. In the case of Corda, the circle is composed by the banks which uses the shared account book and those banks use the shared account book to deal with the transactions, agreement and important documents.
Mr. Brown used to work in the IBM’s Blockchain project and then shift to the R3CEV. The competition between financial organizations can use the universal database to track the implement of transactions, liquidation and clearing without involving any central database or management system. In a nutshell, banks will be able to formalize and protect each other’s digital relationships in the way that were previously impossible to implement. In the description mentioned above, it means that the correspondent banking agreements and the Real Time Gross Settlement, RTGS will be replaced. Transactions can be carried out in the P2P smoothly. Ripple, a private link, is used to solve many of these issues.
c As a Classification Digital Asset
Bitcoin has created some special things: digital property. Before the Bitcoin, word “digital” is not rare. Any digitization stuff can be copied through a click button and it can be proved in the musical industry and album sales.
However, bitcoin does something fancy: it create a digital code that can’t be copied. Therefore, since the invention of the bit character, we have the way to copy the number for the first time, which gives the digital code a kind of value. Until now, the value bitcoin is based on the blockchain to prevent the double cost and fake coin. Concerning this point, the creator of blockchain create the coloured coins as company’s shares. The 'color' of these coins represents the ownership information provided by the private encryption key.
After the permission of U.S. Securities and Exchange Commission, SEC, the online retailer giant Overstock declare that Announced that it will publicly issue company shares on its own blockchain platform. We also saw the emergence of “Initial Coin Offering (ICO)” and “appcoins” (the native cryptocurrency of applications used to assist project development financing). This case are part of blockchain digital asset. Blockchain can be considered as the digital asset as well as the market operation itself. Basically, this digital asset can be regarded as the bearer instrument, a extensive and ingenious application.
04 Management and Market
For the regulators, the blockchain can be a completely transparent and suitable recording system. Once coded, they can also be used to authorize transactions that comply with regulatory filings. For example, banks have strict reporting obligations to institutions such as the Financial Crimes Enforcement Network (FinCEN). As long as the bank approves any transaction that exceeds $10,000, it will need to report it to FinCEN, and FinCEN will store the information as an anti-money laundering database.
06 Clearing and settlement
For the paper world transactions, the time frame for clearing and settlement transactions is usually “T+3” - that is, three days after the transaction.
Through blockchain technology, the entire trading cycle—execution, clearing, and settlement—can occur in the same step. Under digital assets, transactions mean settlement, and mastery of encryption keys and digital ownership, which can reduce post-trade latency and counterparty risk of the other party's non-compliance.
07 Accounting and auditing
Although most databases are snapshots at a certain point in time, the blockchain database is constructed based on its own transaction history. They are a database with context, history, and independent records. This has far-reaching implications for accounting and auditing.
submitted by DigiEx-1 to BlockChain_info [link] [comments]

How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.

Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is:
I emailed them and then pasted it here so sorry if its a bit clumped together. Cant get the grasp of how reddit breaks up sentances 8-()
https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Ethereum Blog: https://blog.ethereum.org/
Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it.
There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below.
Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise)
Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well:
BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI
Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs
An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU
What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s
ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU
Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY
DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
https://www.youtube.com/watch?v=gjwr-7PgpN8
2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s
Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s
DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo
Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU
How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s
The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc
Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s
Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s
2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins)
Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos
Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos
Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum)
The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls
ConsenSys Media - Arthur Falls https://soundcloud.com/consensys
Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/
Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65
Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/
Reddit:
https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily
https://www.reddit.com/ethtradenew/ price and trading discussions
Ethereum News commentators i watch:
Crypt0 https://www.youtube.com/useobham001/videos
Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos
Ethereum people to follow on twitter to get linked and fed important blockchain info:
@SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet)
To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases
Instructions:
How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s
How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s
How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8
Ethereum and other blockchain project prices http://coinmarketcap.com/
There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets
Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether
www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether )
www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support.
www.bittrex.com No Fiat but also lists some Ethereum Based tokens
www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support.
The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s.
You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s
The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it.
So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny.
Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q)
On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments.
Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest.
As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull
In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry.
What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount.
The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs.
The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere
Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD.
Greg Hunter https://www.youtube.com/useusawatchdog/videos
Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos
Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos
Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos
SGT Report https://www.youtube.com/useSGTbull07/videos
Stefan molyneux https://www.youtube.com/usestefbot/videos
X22 Report https://www.youtube.com/useX22Report/videos
Clif High https://www.youtube.com/results?search_query=clif+high
Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky
Health
Dr John Bergman https://www.youtube.com/usejohnbchiro/videos
Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos
Any questions just ask
submitted by TonyMcCarp to ethereum [link] [comments]

Ethereum in the year of the fire monkey! can you keep up?

Soon after we celebrate the two-year anniversary of the official release of the white paper with the one millionth block on the frontier, amazing news keep coming in so rapidly that even the world's fastest client cannot finish syncing before the next incredible story hits.
Since the onset of the chinese new year, the fire monkey's frolics set the whole ethereum ecosystem on fire.
For you indulgence, I cherry picked some recent news:
I mean. Isn't this just crazy? In less than a month?
What is YOUR favourite story?
Bonus points if you give me a reason not to be bullish.
submitted by decypha to ethereum [link] [comments]

How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.

Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is:
https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Ethereum Blog: https://blog.ethereum.org/
Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it.
There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below.
Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise)
Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well:
BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI
Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs
An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU
What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s
ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU
Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY
DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
https://www.youtube.com/watch?v=gjwr-7PgpN8
2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s
Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s
DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo
Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU
How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s
The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc
Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s
Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s
2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins)
Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos
Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos
Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum)
The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls
ConsenSys Media - Arthur Falls https://soundcloud.com/consensys
Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/
Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65
Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/
Reddit:
https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily
https://www.reddit.com/ethtradenew/ price and trading discussions
Ethereum News commentators i watch:
Crypt0 https://www.youtube.com/useobham001/videos
Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos
Ethereum people to follow on twitter to get linked and fed important blockchain info:
@SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet)
To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases
Instructions:
How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s
How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s
How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8
Ethereum and other blockchain project prices http://coinmarketcap.com/
There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets
Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether
www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether )
www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support.
www.bittrex.com No Fiat but also lists some Ethereum Based tokens
www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support.
The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s.
You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s
The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it.
So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny.
Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q)
On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments.
Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest.
As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull
In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry.
What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount.
The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs.
The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere
Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD.
Greg Hunter https://www.youtube.com/useusawatchdog/videos
Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos
Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos
Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos
SGT Report https://www.youtube.com/useSGTbull07/videos
Stefan molyneux https://www.youtube.com/usestefbot/videos
X22 Report https://www.youtube.com/useX22Report/videos
Clif High https://www.youtube.com/results?search_query=clif+high
Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky
Health
Dr John Bergman https://www.youtube.com/usejohnbchiro/videos
Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos
Any questions just ask
submitted by TonyMcCarp to Futurology [link] [comments]

Ethereum and the Margin of Safety

Pre-Script: This piece was supposed to be based Benjamin Graham's concept of margin of safety from The Intelligent Investor. After going back and re-reading Graham, I realized it was more based on this interview. The interview is a couple of years old and directed at natural resource investors, but most of what is said applies equally well to speculating in the crypto space.
Ethereum and the Margin of Safety
As a cute, speculative plaything, ether is very attractive. An intellectually stimulating project coupled with volatility and the possibility of outsize return. Day turns to night, and play turns to fight. Before moving more seriously into Ether as a speculation, we ought to take a more critical look at our decision. Benjamin Grahams classic book, The Intelligent Investor, emphasizes the concept of margin of safety as the central concept of investing. This is a great concept because it is very malleable, and applicable to a wide range of investment opportunities. Three key points to examine in regards to the margin of safety for a speculation are people (Can the people do it?), money (Do they have the money to do it?) and residual value (What are we left with if they fail?).
First lets deal with residual values. In order to appreciate the residual value the first question that must be critically asked and understood is "What are we speculating on when we purchase ether?" We are NOT buying stock (ether) in a company (Ethereum). Ethereum is a protocol. The Ethereum Foundation is the womb from which Ethereum emerged. The death of the mother does not extinguish the child in the way that the failure of a company would de-list their stock from the exchanges. Ethereum, the protocol, is an organism that dens on github and feeds on human initiative and creativity. An alien life form, straight out of Star Trek, that has infested our computer networks. Ether is the blood of the beast.
Don't forget that bitcoin spun out of the matrix with no funding at all. Ethereum is in the wild. It is not the value of the foundation that is being measured when we look at market capitalization, it is the value of the software. As long as people want to use, and continue to develop, the software, ether is likely continue to accrue value. Additionally we should not lose sight of the fact that Ethereum is a platform on which other people can build applications, compounding the utility and growing the value further. The financials of the foundation are important, but the end of the foundation does not equate to the end of the value of ether. The software lives on as long as it has utility. The ongoing utility of the software is the residual value.
Next, lets tackle the intangible called people. The quality of the people involved with a project speaks volumes about the quality of the project itself. The reality is that the best people get to choose where they want to be. The quality of the people involved with Ethereum is exceptional. Look to the development conferences and hackathon events as evidence of this groups passion for their work. As speculators we want people that are going to think about their work 24/7, not just 9-5. People that have had success in completing tasks that are similar to the challenge that they now have set for themselves. People that have a desire for their product that goes beyond their paycheck. People that are playing while they work. Do the people involved with ethereum display these traits?
Money. What is the next unanswered question or milestone? Does the team have enough money to answer that question or reach that milestone? This is the margin of safety, in the sense that Graham intended. Specifically, if we put capital at risk for this enterprise, what is the probability that we will get our capital back, plus some? Every person that is putting capital at risk here needs to meditate on this point.
The financials of the foundation are in fact, quite good. A junior project with a serious product out the door, no debt(?), and about 8 months of operational cash on hand? Considering the cash flow generating alternative revenue sources that Vitalik outlined in his recent blog post, this candle is far from burned out.
Keep in mind that additional funding rounds, without dilution, are possible because making coins on top of Ethereum is easy. If more funding is required to make it to Mist, for example, a coin called Mist Coin (MTC) could be minted. MTC holders could then earn a return through selling adverts in the MIST GUI, just as an example. The capital that Augur has raised is ample evidence that this funding model will work. The foundation has, or can reasonably be expected to be able to obtain, sufficient funding to reach its goals.
The potential upside with ether is tremendous, but the downside is very real as well. It is very possible that an unforeseen bug will send the price to zero. There is also considerable competition in the space. R3CEV may release a better, or better marketed, product tomorrow and displace Ethereum. From the point of view of this speculator, the game is afoot. Have fun, and watch that margin of safety.
submitted by McPheeb to ethtrader [link] [comments]

Synopsis of Charley Cooper's (R3 CEV) talking points at the Brookings Institution.

A synopsis:
1 A question being asked to Charley Cooper – the Managing Director at R3CEV. This guy begins with a non–argument tangent, proclaiming that Bitcoin was created by anti–government/anti–Wall Street sympathizers (assuming this is bad), and continues that he is a part of the group that will actually make the technology relevant or useful. Fortunately – Bitcoin already is, and it doesn't need to comply with regulatory nonsense to achieve success, because it is decentralized. R3 may end up forking Ethereum, or something similar, as admitted later. However, it will atrophy as time and isolation do their part; it is a glorified database. The most interesting part, about his opening, might be the spoiler that Mike Hearn – in a matter of hours – was going to have editorials published about him throwing in the towel.
2 He starts eating the danish He seems to have some trouble with this.
3 Talks some more about Bitcoin not being robust enough for the financial sector.
4 Admits a decentralized blockchain might work in the future for the financial sector. Goes on to say that anonymous nodes are not trustworthy. Discusses his thoughts on blockchain derivatives, like colored coins, incentivizing actors to discontinue mining – and instead hack the network (if hacking is more profitable). Should not be a problem if the smart contracts are stored on a centralized ledger or exchange,...oh wait.
5 Says R3 is interested in forking the best solution that develops in the free market. Names Ripple, Ethereum as examples.
6 Takes a sip of coffee and writes a mysterious note to himself.
7 Has no idea how long regulatory agencies will take to green–light R3's technology.
8 Says that government bureaucracy is confusing, slow, and often contradicts itself. Again, has little idea on how to solve this. Says he will try but needs everyone's support. Does not know who to contact first in the government (understandable as there are too many redundant agencies).
9 Admits banks are hamstrung by needing permission from regulatory bodies before acting. Financial institutions need permission before utilizing a "permission–less" system like Bitcoin.
10 Spins disposable pen with confidence
11 Claims regulations are not the problem. Says the real problem is not knowing what the regulations are, due to inconsistencies. Says he doesn't know what to do, again. I think one could argue that an improvement would be if the regs did not exist, to begin with. Shortly after this, David Wessell (the moderator) says the internet flourished because it existed in a regulatory free environment. However, he thinks this analogy is not fitting for digital currencies.
Summing up his speaking points: Bitcoin can – and should – be separated from bitcoin. Also, R3CEV is going to be shackled by the slow moving & fractured regulatory environment.
submitted by O-38 to btc [link] [comments]

Reporte Semanal #2 Septiembre 2015 I Análisis de Mercado de Bitex.la

La ultima semana pudimos observar como el precio del Bitcoin tuvo un claro y mantenido movimiento a la baja, tocando un piso en los 223 USD, el pasado Martes, en el día de la fecha el precio parece estar estabilizándose en el nivel de los 228 USD. Para la próxima semana podemos esperar que el precio vuelva a los niveles de la semana pasada si es que logra romper la barrera de los 230 USD.
https://cdn-images-1.medium.com/max/1132/1*GuH7WGZ-TrvZUYmtMASB1w.png
El director legal del Grupo de Société Générale ha pedido públicamente el establecimiento de un marco regulatorio para el bitcoin a nivel internacional.
En un artículo co-escrito por Dominique Bourrinet, el director legal del banco multinacional frances; y su colega Etienne Mauret, se discuten las consecuencias de la situación jurídica indeterminada del bitcoin.
Una versión traducida libremente del artículo dice:
“En términos de la legislación francesa, que [bitcoin] no entra en ninguna categoría conocida:. No es ni una moneda de curso legal, ni un medio de pago — ni siquiera una moneda electrónica — en el sentido del Código Monetario y Financiero. Esta incertidumbre no ha impedido al gobierno francés establecer un sistema fiscal ad hoc. la cuestión de la aplicación del IVA queda por decidir “.
A pesar de los esfuerzos de las autoridades francesas como “loables”, los autores siguen esbozando la necesidad de un marco regulatorio internacional que supervise rápidamente este “dinero nuevo”.
La plataforma basada en bitcoin, Bitnexo ha sido anunciada como la ganadora conjunta en la final de la competencia latinoamericana del Open Talent BBVA. La start-up, que tiene la intención de facilitar transferencias de dinero internacionales entre Asia y América Latina, recibirá un premio de € 30.000 ($ 33.939), así como la oportunidad de unirse a un programa de redes de dos semanas en México y Londres. La otra empresa ganadora fue Destacame, una startup chilena que ayuda a las personas a tener acceso al crédito.Hugo Nájera, jefe de la banca digital de BBVA Bancomer, comentó sobre el potencial innovador de las nuevas empresas en la región, diciendo:
“Las startups latinoamericanas han demostrado algunas propuestas realmente innovadoras dentro del FinTech.”
El concurso Open Talent BBVA cuenta con nueve nuevas empresas de cifrado y se divide en tres finales regionales. Bitwage, Coinalytics, SnapCard y Voatz comenzaron a competir ayer en Nueva York junto a los start-ups de los EE.UU. y otras partes del mundo. La final tendrá lugar hoy. La final europea, que se celebrara en Barcelona, ​​donde Everledger, Safello y Vaultoro competirán, está programada para el 21 y 22 de septiembre.
el exchange bitcoin chino BTCChina tiene un nuevo nombre: BTCC .La compañía dijo que la decisión era parte de un esfuerzo de cambio de marca dirigida a internacionalizar su imagen.
“Bitcoin es global, y como nosotros lanzamos más productos y servicios para servir a la audiencia global, necesitábamos un nombre más global”, dijo el CEO Bobby Lee, de los cambios. “BTCC es ese nombre.”
El exchange también comenzará a utilizar un nuevo logotipo y lanzará una nueva versión de su aplicación para móviles — actualmente en desarrollo — como parte del cambio de marca.
Nueve grandes bancos de inversión, incluyendo JP Morgan Chase y Goldman Sachs se han asociado con el start-up de libro mayor distribuido R3CEV.
La asociación verá esfuerzos de colaboración entre las instituciones que tomaran forma, el trabajo que incluirá el desarrollo de normas para el uso de la tecnología blockchain dentro de la industria financiera en general.
El grupo bancario incluye Credit Suisse, State Street, UBS, Commonwealth Bank of Australia, BBVA, Barclays y Royal Bank of Scotland. Muchos en la lista han anunciado previamente esfuerzos independientes para estudiar la tecnología blockchain, y los bancos se dice que están invirtiendo dinero en R3 como parte del esfuerzo.
Los bancos y R3 formarán grupos de trabajo como parte del desarrollo de prototipos blockchain y pruebas de concepto. R3 lleva meses trabajando con las instituciones financieras de Wall Street en la tecnología, un proceso que incluía alojamiento de mesas redondas de la industria y ayudar en las investigaciones internas de los bancos.
El CEO de R3 David Rutter, dijo de la asociación:
“Esta asociación señala una importante apuesta por parte de los bancos para evaluar conjuntamente y aplicar esta tecnología emergente para el sistema financiero global. Nuestros socios bancarios reconocen la promesa de las tecnologías del libro mayor distribuido y su potencial para transformar las plataformas tecnológicas de los mercados financieros, donde las normas deben ser seguras, escalables y adaptables “.
Los representantes de los bancos involucrados, dijo que la asociación ayuda a armonizar el desarrollo de la tecnología en un intento por promover el trabajo más completo.
“En este momento, se está viendo dinero y tiempo significativo se gasta en la exploración de estas tecnologías de manera fracturada que carece de la estratégica, coordinada visión tan crítica para el éxito a tiempo. El modelo R3 está cambiando el juego”, dijo Kevin Hanley, director del diseño en el Royal Bank of Scotland.
La participación de los bancos, de acuerdo con un representante, es un reflejo del creciente interés entre las grandes instituciones financieras en tecnología blockchain.
“Estas nuevas tecnologías pueden transformar la forma en que se registran las transacciones financieras, reconciliados y reportadas — todo con la seguridad adicional, las tasas de error más bajas y una reducción significativa de costos”, dijo Hu Liang, vicepresidente senior de State Street y la cabeza de las tecnologías emergentes.
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Visita Bitex.la ¿Qué es Bitex.la? Bitex.la es un mercado de compra y venta de Bitcoin lider en Latino America. La plataforma permite operar bitcoin de manera profesional contra dolares americanos. Cuenta con una robusta red financiera que permite a los usuarios operar casi desde cualquier país del mundo sin restricciones.
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submitted by bitexla to Bitcoin [link] [comments]

Bitcoin News 22 November 2016 Bitcoin News (Morning Briefs) - YouTube Erik Voorhees (Shapeshift) - We are closer to Bitcoin consensus Why Kraken Acquisition Of Glidera Service Is A Game Changer For Bitcoin (The Cryptoverse #166) Trace Mayer - Long on Bitcoin short on altcoins and R3cev

R3 began seeking $200 million from members in May, in exchange for equity in the firm. The consortium’s 42 original member companies could participate in the deal, a source told Fortune. In ... While R3 CEV continues to rack up the number of banks joining their consortium, several core team members have been announced, including seasoned Bitcoin core developer Mike Hearn. Bitcoin and related issues, positive and not-so-positive news from exchanges and platforms, new investment in the industry, and possible contradiction in the midst of interbank umbrella â€" all i R3 Adds Bitcoin Exchange Veteran to Research Lab Pete Rizzo Oct 3, 2016 Former itBit client group director Antony Lewis has officially joined banking consortium R3. Bitcoin has started recovering from the losses it incurred after the American authorities filed criminal charges against the owners of BitMEX, a crypto exchange, last week. The... Yashu Gola 11 hours ago; Altcoins. News; Price; Ethereum; Ripple; Litecoin; EOS; NAGA; All Altcoin News; Dash FastPass Rollout Across Top Cryptocurrency Exchanges... Dash, has earned the reputation of being one of ...

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Bitcoin News 22 November 2016

A long time ago, on an exchange far, far away... Join Brian Beamish, Alex Sterk and the Coinigy team as they discuss the latest in Bitcoin and Altcoin trading. Don't miss this episode! Dit is een exchange waar je ongeveer alle soorten cryptocurrencies kunt ruilen tegen de marktprijs, ... Long on Bitcoin short on altcoins and R3cev - Duration: 44:15. The Bitcoin Report 7,470 ... "The Bitcoin Report" Interviews and backgrounds on the world of Bitcoin and blockchain Twitter https://twitter.com/nlbitcoinreport Facebook https://www.f... Deze week hebben wij een interview met de bekende investeerder in bitcoin bedrijven: Trace Mayer. We spreken over de blocksize, R3cev en de belastingdienst die aan de deur klopt van bitcoin ... Kraken, the largest Euro-to-Bitcoin exchange based in San Francisco, acquired Chicago-based award-winning Bitcoin wallet platform and funding service provider Glidera.

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