Crypto heads will have learned nothing from Sunday’s edition of Last Week Tonight, though the show’s four million viewers should have gleaned a few insights amidst all the jokes. There have certainly been worse attempts at summarizing the world of cryptocurrency, even if Oliver’s efforts are unlikely to trigger a renewed bitcoin frenzy. The episode felt as if Oliver had just learned of cryptocurrency 10 minutes before going on air, and felt obliged to bring his audience up to speed on its history and technology post-haste.
Source: John Oliver Tackles Cryptocurrency on Last Week Tonight – Bitcoin News, Kai Sedgwick, March 13, 2018Read More
But you know, if you’re doing an ICO and the token represents a share in the company that’s called a security, it should fall under securities legislation. But we need microsurgery on this new economy. We don’t need to bring a chainsaw to it. This would be one of the three most important rate determining factors in terms of what countries emerge not just with the Blockchain industry, but with the whole new innovation economy. Do governments do the right thing and implement sensible legislation or did they mess it up?
The supply chain industry globally is a $64 trillion industry and supply chains are going to move to Blockchain. You can see that with Foxconn doing this now, we’ve done a case on that. On the Walmart food sale they use Blockchain for food safety. The biggest supply chain in the world ever is the ‘One Belt One Road’ project linking Hong Kong and Rotterdam. All the trade and finance and a lot of the supply apps on that are being done via Blockchain.
Blockchain is perfect for situations where you have a buyer and a seller and escrow agent, and governments, and various shippers, and tax authorities and so on. Instead of passing pieces of paper and faxing, and emails and so on, they have a single shared network state where they can all instantly see what’s going on. It turns that supply chain into something we call an asset chain. And ultimately, this thing becomes cognitive. It really becomes a new cognitive computer. That’s where the supply chain will be.
Source: Don Tapscott: “We Need Microsurgery on This New Economy” | News | Cointelegraph | News | Cointelegraph, January 29, 2018
Thanks, Ahmed!Read More
“Fear of Missing Out” (FOMO) drives token valuations without any connection to market fundamentals.
Investor demand for initial coin offering (ICO) projects remains high, but the ability to reach fundraising goals has been declining since mid-2017; down to 25% of projects in November from 90% in June.
Speed and size of market draw hackers’ attention with 10% of ICO funds lost or stolen.
The blockchain ecosystem, driven by new business models, promises of disintermediation, and interesting technological innovation, has behaved much like an adolescent by throwing tantrums, challenging the status quo, and defying all odds to make a point.
The permissioned network, which is the realm for regulated, conventional, and enterprise business networks, may also have to embark on a journey of uncovering the right incentive and economic model for enterprises and organizations to join a platform that leverages the notion of creation, distribution, and sharing of rewards benefitting all stakeholders. While not all conventional business and industries can blindly adopt the economic incentives of tokenomics (either due to product catalogues, legacy systems, or regulation, or simply the will of the participants), it is imperative that industries start the journey to explore the right business model that will not only enable value creation but also elevate the modernization efforts that many industries desperately need to combat disruptive forces.
Source: Forging ahead with Blockchain in 2018: My Focus in 2018 for Blockchain Technology and Transforming Industries, Government and Our Lives | LinkedIn, Nitin Gaur, December 31, 2017
Here’s my $0.02 USD or, as of this post’s date, 0.000001 Crypto Comment on the post:
I find the Divide a funny thing. Do you think Enterprise players would be so quick to adopt these technologies if it were not for the whacky ICOs and crypto market capitalizations? Congrats to both sides of the Divide; the decentralist trailblazers and players like IBM and other Linux Foundation members for recognizing they are on to something but need to focus on matters like those posted by Nitin for enterprises to start listening.
Happy Trails to both sides of the divide in 2018!
CryptoKitties is a “cryptocollectable” game where people collect digital cats with specific traits, which can be used to breed other digital cats.Since no centralized organization created all the cats, and the system is recorded on a ledger to prevent fraud, its founders say it may be an easy way to understand blockchain technology.
Source: CryptoKitties makes it easy to understand blockchain and genetics, Michelle Castillo, December 18, 2017Read More
Blockchainers around the world talk about the benefits of disruption and the transformative nature of peer-to-peer, decentralized, distributed networks. The technology may automate and reduce reliance on manual work. However, basic needs for human relationships and bonds do not change much.
Source: Blockchain Brain Drain Is About More Than Money – CoinDesk, Sandra Ro, December 15, 2017Read More
“The blockchain/trust economy trend represents a remarkable power shift from large, centralized trust agents to the individual,” Deloite stated. “And while its broader implications may not be fully understood for years to come, it is hardly a death knell for banks, credit agencies, and other transactional intermediaries. It may mean, however, that with blockchain as the gatekeeper of identity and trust, business and government will have to create new ways to engage the individual – and to add value and utility in the rapidly evolving trust economy.”
Source: How blockchain will underpin the new trust economy | Computerworld, Lucas Mearian, December 7, 2017Read More
Is Bitcoin the currency of the future, or is it the payment system they’re developing?
Bingo! It’s the payment system. It’s the blockchain encryption.
As the Bitcoin network grows, the value of Bitcoin grows. As people move into Bitcoin for payments and receipts, they stop using US dollars, Euros, Chinese Yuan, which in the long term, devalues these currencies.
People think that Bitcoin or the blockchain is owned by someone, by a company, or by a consortium. No. This is strictly a mathematical formula that nobody owns, that we are all participating in, verifying the authenticity of the sender and receiver in a financial transaction. It is the most powerful technology that the world has seen I believe since the invention of agriculture.
John McAfee… swift to spot its potential for lining his pockets. With a Twitter audience of over half a million hanging on his every word, he’s taken to pumping altcoins with aplomb.
Cryptocurrency Influencers Accused of Aiding Pump and Dumps – Bitcoin News, Kai Sedgwick, December 28, 2017Read More
Similarly, bitcoin users are a tremendously motivated community of early adopters. By creating connective tissue between these forward-thinking business models, I believe we’re molding the future for consumer-first, experience-driven commerce.
Source: Surf Air Joins the Growing List of Private Airlines Accepting Bitcoin | Bitcoin News, December 7, 2017, Jamie RedmanRead More