Tag: blockchain

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In Blockchain We Trust: Building Beyond Finance

This panel discussion is about the use of blockchain beyond the financial markets. The discussion was part of Web Summit November 2018 in Lisbon, Portugal.

The three panelists are Hyperledger’s Brian Behlendorf; Tradeshift Inc’s Gert Sylvest; and NYIAX’s Carolina Abenante. The discussion is hosted by Cheddar’s Alex Heath.

The following are a few notes.

The crypto hype and volatility represent noise that can divert attention from the inherent opportunity of blockchain.

The utility of blockchain is contingent upon specific industry needs and may be influenced when regulatory frameworks are established that determine which information may need to be made transparent by industry participants.

Banks and the financial industry are presumed to be vulnerable to disruption. But in fact they are already so regulated that they will find blockchain helpful. Blockchain will be a tool for them and will not completely disrupt banking.

Central banks will ultimately issue their own crypto on blockchain.

However, in industries where margins are earned due to lack of transparency, whether finance or otherwise, those entities will be disrupted.

Companies represented by the panelists:

NYIAX.com
Developed in partnership with Nasdaq, NYIAX provides advertisers and publishers a platform to buy, sell, and re-trade premium advertising contracts in a forward/futures methodology.

TRADESHIFT.com
Tradeshift is a web based business network and also a free invoicing platform founded by Christian Lanng, Mikkel Hippe Brun and Gert Sylvest.

HYPERLEDGER.org
Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology.

CHEDDAR.com
Cheddar is a live-streaming financial news network.

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The IBM Blockchain Platform

https://youtu.be/kIiiOUu1e5c

The IBM Blockchain Platform enables developers to create, test, govern and manage a working blockchain network.

The platform includes a set of blockchain software, services, tools and sample code to help developers launch more rapidly.

Built on Hyperledger Fabric’s open architecture from the Linux Foundation, this Blockchain-as-a-Service platform unlocks opportunity in a hardened, security-rich, production-ready environment, including 24x7x365 IBM support.

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What is eToro?

eToro describes itself as “the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets.” Social trading is a service that allows investors to follow, share and replicate the trading strategy of other traders.

eToro was founded as RetailFX in 2006 in Tel Aviv, by brothers Yoni Assia and Ronen Assia, together with David Ring with a mission “To make trading accessible to anyone, anywhere, and reduce dependency on traditional financial institutions.”

eToro’s main research and development office is located in Tel Aviv, Israel. In addition to legal entities registered in the UK, Cyprus, Australia and the U.S.A.

eToro offers both short-term options for day traders and long-term options for investors, including stocks, commodities, forex, cryptos, exchange-traded funds (ETFs) and indices,

eToro currently offers crypto trading for U.S. customers but states they will be able to offer additional services “soon.”  My email for elaboration received this response:

“We do not have a time estimation to roll out additional USA trading markets. We will send an email notification as soon as we have an update.”

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What is Blockchain Technology? Easy To Understand Video

There is no shortage of explainer videos attempting to outline the basics of how blockchain works.

The trick is to explain some fundamental concepts in a simple fashion; albeit at the risk of oversimplifying to the point of being factually incorrect.

This video does a competent job, although it focuses on the Bitcoin blockchain.  Certainly the Bitcoin blockchain is ubiquitous, due to its association with its famous crypto asset.  However, blockchain as the world will know it, will be built upon any other network except Bitcoin, since that one is a single-use ledger.

Getting back to the video principles: Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.

Information held on a blockchain exists as a shared — and continually reconciled — database.

The blockchain database isn’t stored in any single location: it’s stored on many computers and the records it keeps are public and easily verifiable. (At least on a public blockchain.  Such is not the case on a private blockhain).

A key benefit is that no centralized version of the network data exists for a hacker to corrupt.

Here on the verge of 2019, it’s not a perfect technology.  Hence, there are many developers working to establish blockchains that are closer to the promise of this technology: faster, less expensive, more transparent and immutable transactions.

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Howdoo: Better Blockchain Social Media?

https://youtu.be/l8HOw7d1pHM

Howdoo.io introduces itself thusly: “Imagine a single application that combines all the best features of existing social media apps, but with a radical new approach to putting users, communities, content creators, and advertisers together in complete harmony and control – alongside a whole new way of incentivizing and rewarding contributions. “

It will be launching in December 2018. Of course like every type of social media platform that has come and gone over the years, user adoption will be the key to its value.

It intends to be a full-featured social media platform, analogous to Facebook.  However, users will be able to establish their environment and earn money for their activity.

Users could disable advertising if that would be their preference. Alternatively, users will earn a fair percentage of the advertising revenue they generate if they do allow it.

For more info on income opportunity by using Howdoo, visit 7 Reasons Creators Earn More on Howdoo.


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All Four Major Ad Holding Companies Unite Around Blockchain

Blockchain and Ad Companies

The advertising industry has benefited from the digital revolution as evidenced by the massive reallocation of money from traditional media to digital advertising.  However, such has also highlighted problems that have plagued the industry as it continues to assert its value to the advertisers who provide the cash, let alone to actual consumers.

Alan Wolk writes about an unprecedented collaboration of the four largest ad holding companies on the planet:

  • IPG
  • Publicis
  • Omnicom
  • WPP

Their participation in the nonprofit AdLedger was established to “further trust and transparency within the digital media space.”

The AdLedger website also states: “We are a nonprofit research and development consortium charged with implementing global technical standards and solutions for the digital media and blockchain industries.”

Wolk describes the initiative as an attempt to solved the “Four Horsemen of the Ad Apocalypse”:

  1. Fraud
  2. Lack of consumer privacy controls
  3. Too many middlemen
  4. Lack of transparency between publishers and advertisers

Blockchain represents a potential and meaningful solutions to these issues which have been a bane to the industry.


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Malta Blockchain Summit

In early November, Malta, the “Blockchain Island,” hosted one of the biggest blockchain events in Europe — the 2018 Malta Blockchain Summit.

The “Blockchain Island” is not only a center for international blockchain commerce, but it’s also on its way to becoming a “Top AI nation” as well.

In other words, in the same way Malta has established a friendly regulatory environment for blockchain technology, it is doing the same for artificial intelligence.

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The Dark Side of The Chain

https://youtu.be/BX_3fFUUhVQ

John McAfee from McAfee Crypto Team & Luxcore, Brandon Smietana from Skycoin and Monty Munford (moderator) from Mob76 discuss “The Dark Side of the Chain” at the 2018 Malta Blockchain Summit.

At times distressing and other times colorful, their discussion includes kidnapping, murder, guns and prostitutes.

Additionally, Smietana talks about the origin of Bitcoin as a money system backed my mathematics instead of humans, who are prone to corruption. He describes the current fiat monetary system as a debt ponzi scheme and that the earliest Bitcoin proponents were Libertarian, real-money advocates before the speculators came in and dominated the landscape.

McAfee discusses forwarding the adoption of crypto by actually using crypto for purchases where accepted.

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Difference Between ‘Permissioned’ and ‘Permissionless’ Blockchains

blockchain

Matthew Beedham describes a permissionless blockchain as one where the public validates transaction information on the network.

In permissioned systems, transaction information is validated by a select group approved by the blockchain’s owner, hence a private blockchain.

Permissioned systems tend to be more scalable and faster, but are more centralized. Permissionless systems are open for all to join, and as a result, usually more decentralized, the trade off is speed and scalability.

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