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  • @fintechna 12:18 am on March 22, 2017 Permalink | Reply
    Tags: , , , cryptocurrency, Demoes, , , Souftjourn   

    Souftjourn Demoes Cryptocurrency for Employee Rewards 

    and offer many potential benefits to banking customers, such as faster and more secure cross-border payments. But how about bank employees? A software development company Softjourn demoed “SJ Coins” (or Softjourn Coins)&; a system for employees&8211; at the FinDEVr conference today. “Employees received an account and an equal number of coins; the first thing they could [&;]
    Bank Innovation

     
  • @fintechna 12:18 am on March 5, 2017 Permalink | Reply
    Tags: , , cryptocurrency, , , ,   

    Bitcoin Is Now Worth More than Gold 

    : $ 1,252.91. : $ 1,239.20. Guys. That’s right: currently, bitcoin is an ounce of gold (but you should probably keep buying gold). Gold, upon which we pretty much based our entire system of financial exchange. The only other time this has happened since bitcoin’s creation by anonymous legend Satoshi Nakamoto—who may or may [&;]
    Bank Innovation

     
  • @fintechna 12:18 pm on January 5, 2017 Permalink | Reply
    Tags: #Bitcoin1000, , , cryptocurrency, ,   

    How Long Will #Bitcoin1000 Last? 

    certainly celebrated the New Year right. Crossing over into 2017, the original topped $ 1,000 US in value, just in time for its birthday (yesterday marked the anniversary of the day the genesis block of the bitcoin was created by the still-elusive Satoshi Nakamoto.) This also marks theRead More
    Bank Innovation

     
  • @fintechna 12:18 am on December 30, 2016 Permalink | Reply
    Tags: , , , cryptocurrency, , Patenting,   

    Creating a ‘Blockchain Industry:’ Patenting the Blockchain 

    Patent filings for have more than tripled since 2014; this spike includes patents filed by exchanges such as Coinbase, payment processors like Mastercard, and like Goldman Sachs and the Bank of America. According to a report conducted by law firm Reed Smith, the most popular areasRead More
    Bank Innovation

     
  • @fintechna 3:35 pm on December 20, 2016 Permalink | Reply
    Tags: , , , , , , , Books, Christmas, cryptocurrency, , , , ,   

    12 New Fintech Books To Offer This Christmas 

    is coming and if you are a junky, you might want to ask your friends, boss and relatives for one (or more) of the following fintech .

    These books, which have all been released in the past six months, cover every aspect of fintech from digital payments, mobile to and Big Data.

    For books that were released earlier, you can check article or have a look on our Fintech Book Page.

    12 New Fintech Books To Offer This Christmas fintech

    Blockchain: Blockchain, Smart Contracts, Investing in Ethereum, FinTech

    by Jeff Reed

    12 New Fintech Books To Offer This Christmas fintechBlockchain: Blockchain, Smart Contracts, Investing in Ethereum, FinTech by Jeff Reed combines four of his best-selling books, all covering blockchain technology and fintech. These are:

    Blockchain: The Essential Guide to Understanding the Blockchain Revolution

    Blockchain is far more than technology, and even in its infancy, it is taking the world by storm, from major to the U.S. Department of Defense. This book is a comprehensive guide to blockchain, helping you understand what it is and why it matter.

    Smart Contracts: The Essential Guide to Using Blockchain Smart Contracts for Exchange

    This book explains the fundamentals of Smart Contracts and how they work. The practical uses of Smart Contracts are enumerated in this book and you will also learn how you can make your own Smart Contracts in the Ethereum system. You will also get tips on how you can make your Smart Contacts easy to understand and user-friendly. This book also covers some of the myths surrounding smart contracts and the reasons why they exist.

    Investing in Ethereum: The Essential Guide to Profiting from Cryptocurrencies

    This book explains the reasons to invest in Ethereum and not just because of the potential ROI, but also the benefits of cryptocurrencies in themselves. The overall risks, obstacles, and major changes in Ethereum will also be addressed. There are over 1,000 cryptocurrencies that currently exist, it’s important to choose wisely and understand everything you can if you’re going to be putting real money into the blockchain.

    FinTech: Financial Technology and Modern Finance in the 21st Century

    This book will introduce you to the basics of FinTech and equip you with the knowledge to get on the cutting edge of age we live in today. It covers the impact of fintech on the global economy, the payment ecosystem, fintech solutions in the business-to-business sector, fintech and investing, and much more.

     

    FinTech: The Beginner&8217;s Guide To Financial Technology

    by Jacob William

    12 New Fintech Books To Offer This Christmas fintechThe term “FinTech” is shrouded a mystery, even to more tech-savvy individuals. Since it’s such a new innovation, much about it, as well as where it’s heading is still unknown.

    In FinTech: The Beginner&8217;s Guide To Financial Technology, Jacob William explains what FinTech is, why it matters to everyone, future predictions about it, possible dangers, and its origins and history.

    This book will give you the information you seek in a digestible and easy-to-follow format. No prior knowledge of technical subjects is necessary because understandable examples are given throughout.

    Learning more about something that is so prevalent in our society is undeniably beneficial whether you are a business owner, technology enthusiast, or just a curious layman.

     

    FinTech: The Impact and Influence of Financial Technology on Banking and the Finance Industry

    by Richard Hayen

    12 New Fintech Books To Offer This Christmas fintechWe’re in the middle of the FinTech revolution, and it’s a big one. Everything that we know about the world of finance is changing before us. Innovation is constantly happening. FinTech: The Impact and Influence of Financial Technology on Banking and the Finance Industry is going to help you get up to speed on all of the change that’s happened and the things that are important right now.

    This book is going to teach you about several things, including the fintech sector and its impact on traditional banking, on the global economy, and on the world at large.

    It will teach you about cryptocurrencies such as bitcoin, blockchain technology, -advisors, peer-to-peer lending, crowdfunding, but also about the state of FinTech and where it is heading.

     

    Blockchain: 4 Manuscripts—Blockchain, Fintech, Investing in Ethereum, and Smart Contracts

    by Oscar Flynt

    12 New Fintech Books To Offer This Christmas fintechBlockchain: 4 Manuscripts—Blockchain, Fintech, Investing in Ethereum, and Smart Contracts combines four of Oscar Flynt&;s books covering blockchain technology, fintech, Ethereum and smart contracts:

    Blockchain: The Ultimate Guide to Understanding the Hidden Economy

    Blockchains are changing everything from banking, shopping, peer-to-peer exchange, and our daily lives as a whole. Those who learn blockchain and how to utilize them will have a preemptive jump on their competition. You’ll discover how to use them, their shortcomings, all about smart contracts, and much more.

    FinTech: Understanding Financial Technology and its Radical Disruption of Modern Finance

    This book covers everything from future trading, online banking, conducting business, daily living, and much more. You’ll discover the exciting opportunities that await in the coming years and how you can capitalize on them.

    Investing in Ethereum: The Ultimate Guide to Learning—and Profiting from—Cryptocurrencies

    Ethereum is one of the most profitable and promising platforms to trade cryptocurrency on to date. In this book you’ll learn all about this amazing platform, how to trade on it, how set up smart contracts, and how to program the right software to use it.

    Smart Contracts: How to use Blockchain Smart Contracts for Cryptocurrency Exchange

    Smart contracts are speculated to lower legal disputes, re-structure banking and finance, and change the way people shop and make money forever. This book will teach you how to create them.

     

    Bankruption: How Community Banking Can Survive Fintech

    by John Waupsh

    12 New Fintech Books To Offer This Christmas fintechCommunity banking can flourish in the face of fintech and global competition with a fresh approach to strategy. Bankruption: How Community Banking Can Survive Fintech offers a survival guide for community banks and credit unions searching for relevance amidst immense global competition and fintech startups.

    Author John Waupsh is the Chief Innovation Officer at Kasasa, where he helps spearhead financial product development and implementation across hundreds of institutions.

    In this guide, he draws on more than a decade in the industry to clear, practical advice for competing with the megabanks, direct banks, non-banks, and financial technology companies.

     

    Fintech: Financial Technology Beginner Guide CherryTree Style

    by Mark Jobs

    12 New Fintech Books To Offer This Christmas fintechFinTech, or financial technology, a financial technology service industry, is defined as &;innovation in financial services&; by National Digital Research Centre. With $ 138 billion market opportunity in the United States, FinTech has become a hot topic for entrepreneurs, visionaries and investors. However, with it&8217;s rapid growth, little in-depth information can be found regarding to FinTech, especially the relationship between FinTech and wealth management.

    Fintech: Financial Technology Beginner Guide CherryTree Style aims at demystifying fintech, providing a comprehensive overview of the industry, the impact of fintech in different sectors, the leading fintech players, among other things.

     

    Blockchain: Blueprint to Dissecting The Hidden Economy!- Smart Contracts, Bitcoin and Financial Technology

    by Tony Scott

    12 New Fintech Books To Offer This Christmas fintechBlockchain: Blueprint to Dissecting The Hidden Economy!- Smart Contracts, Bitcoin and Financial Technology provides informative and easy tips that will let you know everything you need to know about the hidden economy and how to capitalize on this amazing technology.

    The book covers blockchain technology, smart contracts, fintech, among many other topics.

    It breaks training down into easy-to-understand modules and starts from the very beginning of blockchain, so you can get great results &; even as a beginner.

     

    Digital Banking Tips: Practical Ideas for Disruptors! 2nd Edition

    by Tolga Tavlas

    12 New Fintech Books To Offer This Christmas fintechDeveloping a digital banking presence is a daunting task, especially when you consider the financial resources and education needed to achieve telephone, online, mobile, and other digital banking capabilities.

    Digital Banking Tips: Practical Ideas for Disruptors! 2nd Edition is a quick and easy read that provides you with tips that are simple to implement, and which will help you through the process.

    Even if your company has been offering digital banking services, this book can help you build out that part of your business further by assisting with areas such as identifying users&8217; needs, increase usage, improve systems, multi-channel business needs, among other topics.

     

    Blockchain: The Comprehensive Guide to Mastering the Hidden Economy

    by Timothy Short

    12 New Fintech Books To Offer This Christmas fintechBlockchain: The Comprehensive Guide to Mastering the Hidden Economy provides you everything you need to know about blockchain technology including how it was created and where it is likely to be headed in the near future.

    You will also learn how to tell if a blockchain distributed database can replace your current database as well as how to create one and common mistakes to avoid while doing so.

    In this book, you will find:

    • Arguments against blockchain and how and why they are misguided
    • The best ways to put blockchain to use for you
    • The many impressive uses for smart contracts and even how to make your own
    • And much more…

     

    Frontiers of Financial Technology: Expeditions in future commerce, from blockchain and digital banking to prediction markets and beyond

    by David Shrier (Author), Alex Pentland (Editor)

    12 New Fintech Books To Offer This Christmas fintechFinancial technology innovation has exploded in the popular consciousness, and promises a radical transformation of the global financial services industry. Over US$ 20 billion is expected to be invested in fintech projects in 2016.

    MIT Professor Alex Pentland is joined by fintech intrapreneur and educator David Shrier in curating an exploration of several major trends and technologies that are changing the face of financial services.

    Co-authors include Deven Sharma, the former President of S&P, and Alex Lipton, the former head of quantitative analytics for Bank of America Merrill Lynch.

    From blockchain to artificial intelligence, this series of articles helps the reader grapple with this exciting area of technology innovation.

     

    Blockchain: Quick Start Guide to Understanding Blockchain, the Biggest Revolution in Financial Technology and Beyond Since the Internet

    by Seth Ramsey

    12 New Fintech Books To Offer This Christmas fintechBlockchain is a revolutionary technology that was created for bitcoin, but has since found a wide variety of other applications from ecommerce and retail, to securing health care records, to maintaining all kinds of important databases.

    Chances are your life has already been impacted by a blockchain database. The influence of blockchain continue to grow exponentially in the coming years, leading some people to call it the greatest technological revolution since the internet.

    Blockchain: Quick Start Guide to Understanding Blockchain, the Biggest Revolution in Financial Technology and Beyond Since the Internet provides a quick start to understanding how blockchain technology works. The book explores the opportunities and challenges related to distributed ledgers and what&8217;s to expect in the future for the technology.

     

    Fintech: Financial Technology &8211; 2 Manuscripts &8211; Bitcoin & Blockchain

    by Luke Sutto

    12 New Fintech Books To Offer This Christmas fintechFintech: Financial Technology &8211; 2 Manuscripts &8211; Bitcoin & Blockchain combines two books:

    Bitcoin Trading &8211; A Complete Beginner&8217;s Guide

    Bіtсоіn Trаdіng: A Beginner’s Guіdе to a Strategic Trading & Invеѕtіng offers іnѕіghtѕ into this vital subject mаttеr rеlаtіng to financial іndереndеnсе. Thіѕ book рrеѕеntѕ an exploration into thе іntrісаtе but profitable wоrld оf Bіtсоіn trаdіng thrоugh аn еxрlісіt аnаlуѕіѕ оf the nіttу-grіttу as wеll аѕ expounding on its mоduѕ operandi ѕо as tо bеttеr еduсаtе trаdеrѕ аnd investors аlіkе оn thе bеѕt роѕѕіblе wауѕ tо mіnіmіzе thеіr rіѕkѕ whіlе аt the same tіmе, rеwаrdѕ аrе bеіng mаxіmіzеd.

    Blockchain &8211; A Complete Beginner&8217;s Guide

    Bitcoins as a game changer have virtually set people&8217;s imagination into flight. Bitcoins are based on the blockchain technology. Increased exploration of the further uses of blockchain technologies have showed that there is immense promise in blockchain technologies.

    The post 12 New Fintech Books To Offer This Christmas appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     
  • @fintechna 3:35 am on December 13, 2016 Permalink | Reply
    Tags: Cinema, cryptocurrency, , Financed, , , Movie, Very   

    The Very First Ethereum Financed Movie For Cinema 

    The Very First Ethereum Financed Movie For Cinema fintechThis autumn the Pitts Circus announced to produce the movie for , TV and VOD in 2017. The film which is going to be presented on film festivals and cinemas in 2018 will bring a long term benefit to the Ethereum ecosystem and will bring in new people into the crypto currency space.

    The movie corporation who collected Ether from Ethereum investors trough a smart contract recently announced lots of B2B cooperations, sponsoring and product placement deals, which will support the production process of the first Ethereum based Independent movie.

    While the first scenes are going to be shoot from the end of January 2017 in West-Australia the Pitts Circus team used the last month to coordinate some important business deals to make the movie look and feel like a crypto-related film. While the Pitts Circus Family (a popular artist family from Australia) will head the cast the movie production the production team around Tony Caradonna signed with Matto Kämpf and Carlos Henriquez movie actors who already have years of TV & film experience. Mera film, a swiss based digital cinema production company supports the production progress and will help to bring a high-quality movie in 2018 to film festivals followed by international cinemas all around the world.

    The Very First Ethereum Financed Movie For Cinema fintech

    The Ethereum based project closed some important business deals in the last time. In the last month the team closed several sponsoring and product placement deals. Ledger Wallet, will come up with a new version of their cold wallet soon. The hardware wallet, which will also support smart contracts will be part of the movie. Also Trezor Wallet confirmed to support the first Ethereum founded movie in terms of sponsoring and product placement. The Pitts Circus movie recently also received financial support from bilinguisme.ch

    The Very First Ethereum Financed Movie For Cinema fintechThe movie production announced to feature Ether Card products in their film. Customized Pitts Circus Ethereum gift cards are available to give away shares of the movies venture as a present. While the team works on more B2B deals inside the crypto space they also brought other companies to the scene who are going to sponsor the crypto related film.

    The Giant Squid Audio Lab Company, who produces high fidelity microphones will spons o r the mov i e and many mo r e cooperations are on negotiations. Moreover the project signed the experienced sound engineer Rainer Jesky from Berlin.

     

    The Very First Ethereum Financed Movie For Cinema fintechFirst results of production will be shown on the COVAL/ VOCAL podcast early next year. The movie will also include a COVAL placement (Circuits of Value ). It will be the first movie which shows the innovative use case of storing and sending cryptocurrency inside a MP3 file or ordinary usbsticks. The movie soundtrack is in progress but independent musicians will be able to upload their music on the aurovine platform (Audiocoin cooperation) and the audience will decide which music will be part of the film.

    In sum the Swiss movie production was able to collect financial resources, equipment and human labour time of more than 80,000 USD. Parts of it come from donations during the summer, followed by their first sold smart contracts (Ether investment) as well from closed business deals with sponsors and partners. There will be some more deals signed in the next weeks. Currently the project also announced a partnerships with other companies e.g. Mycolab or Aardvark Film Emporium.

     

    The Very First Ethereum Financed Movie For Cinema fintechTony Caradonna producer of the Pitts Circus movie also announced, that there will be an Ethereum Movie Venture coin in future. This coin will be used to give out the yearly movies (ETH) dividends, while the investment can be traded on exchanges. One reason for this action was the wish of many investors to make the investment able to trade on a short-term basis. Moreover, the Ethereum Movie Venture coin will be used to produce more independent film project and eventually provide a ethereum based VOD solution.

    Right now the the team is exited to see so much progress and support all over the world and would like to thank all partners and the international community members who are supporting the production process. In that way the Pitts Circus movie also cherish the work of Jose Antonio Leon Rojas, Ludwig Amadeus Moncrieff and the team of Social Husky international who support the project from Venezuela, who will produce merchandise material for film festivals.

     

    The post The Very First Ethereum Financed Movie For Cinema appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

     
  • @fintechna 12:19 am on December 4, 2016 Permalink | Reply
    Tags: , , Chris, Corda, cryptocurrency, Larsen, , , ,   

    In Blockchain News: R3 Releases Corda, Chris Larsen Talks Ripple 

    Welcome to another crazy week in ! There’s been a lot for enthusiasts to digest this week, but let’s start with consortium . The R3CEV blockchain consortium of opened its codebase up to the larger developer community this week, in the hopes that independent experiments based onRead More
    Bank Innovation

     
  • @fintechna 3:35 pm on December 2, 2016 Permalink | Reply
    Tags: , , , , , , , , cryptocurrency, , , , ,   

    Blockchain Technology – Opportunities and Challenges- Speech by Deutsche Bundesbank 

    Keynote Speech at the 6th Central Banking Workshop 2016 by Carl-Ludwig Thiele, Member of the Executive Board of the Deutsche Bundesbank.

    Introduction

    I would like to warmly welcome you to the 6th Central Banking Workshop. I am delighted that we have been able to attract such top-class speakers and participants to this event, who, given their experience and knowledge, are able to provide valuable contributions on what is a highly topical subject. This year, the workshop is about , which has generated a large swell of public interest, or even hype, one could say.

    With our workshop, entitled &;Blockchain technology – opportunities and challenges&8220;, we want to enable a lively exchange between researchers, practitioners and regulators. Each of these groups, in its own right, has a keen interest in this topic. But, as Ernst Ulrich von Weizsäcker once said: &8220;An exchange of views requires people to talk to each other, not about each other&;. In this spirit, I hope that we will have a stimulating exchange of views over the coming days.

     

    Blockchain Technology – Opportunities and Challenges- Speech by Deutsche Bundesbank fintech

    Blockchain technology is currently generating almost exuberant enthusiasm among , enterprises and public bodies. New initiatives and cooperation agreements on blockchain applications are being announced in the financial press on a near daily basis. This is not limited solely to banks and private enterprises, but also encompasses projects by governments and central banks.

    Examples of such cooperation agreements can be found on all of the world’s continents. Beside Fintechs and other startups, participants include the Bank of England, stock exchanges in the United States, Australia and Japan, as well as numerous commercial banks, to name only a few. Even an aircraft manufacturer, Airbus, is exploring blockchain for the purpose of process optimisation.

    Structure and Objectives of The Workshop

    How is it that a relatively complicated form of technical processing is generating such enthusiasm?

    In this workshop we want to address this question by talking about the possibilities that blockchain technology opens up and the this presents.

    This is anything but a trivial undertaking. Indeed, views on these possibilities and challenges vary greatly from person to person, but also among institutions. At present, there is no telling whether blockchain will supersede existing technology in a few years’ time. All the more reason, therefore, is to examine this technology and its implications in detail and gather key insights about it. This is true, not least, for central banks and regulators. So what lies behind this technology?

    Even when it comes to a basic definition, we see that the word blockchain is not always used to mean the same thing. Often, the term &8220;distributed ledger technology&8221; is used as a synonym for blockchain. If we regard distributed ledger technology as the principle behind distributed databases, blockchain represents a sub-category thereof. However, there is, as yet, no uniform definition of the term.

    Blockchain Technology – Opportunities and Challenges- Speech by Deutsche Bundesbank fintech

    Image: Stock market chart by bluebay via Shutterstock.com.

    An elementary understanding of the technology is a prerequisite for discussing its potential, which is why module 1, entitled &8220;Blockchain – basics, technological achievements and general potential&8221;, is dedicated to this question.

    Blockchain became known, above all, as the technology behind the . The term is derived from the fact that transactions are grouped together in &8220;blocks&8221;. These blocks are chained together through a complex mathematical procedure that is unforgeable and tamper-proof.

    Essentially, blockchain allows a ledger of transactions to be run on a decentralised basis within a network. The technology therefore enables the safe transmission of all manner of assets (not just bitcoin), without the need for confirmation from a central institution. With blockchain, reconciliation between participants occurs automatically. But what are we to do with this technical innovation?

    Plato once said that: &8220;Necessity is the mother of invention&8220;. But in the case of blockchain, we are seeing the exact opposite. The invention, ie blockchain, has already been born. Now people in many places are searching for the necessity – for the specific cases where it can be applied in practice.

    Blockchain-based technologies offer up the chance of simplifying complex intermediation processes for payment and settlement activities. Virtually all payment service providers are therefore currently looking for ways to apply this technology. Its use in payment transactions is an obvious choice, as the cryptocurrency bitcoin has already been created for this purpose.

    But does it make sense to use blockchain in this of all areas? And in what form should it be used in the area of payment transactions? These questions will be addressed in module 2 of the workshop: &8220;Possible business cases for payments&8221;.

    Payment transactions based on blockchain inevitably also raise the question of virtual currencies. Bitcoin was created shortly after the outbreak of the financial crisis and was intended to serve as a countermodel to the prevailing financial system. At first, bitcoin fired many people’s imagination and led some to expect a revolution in the financial system. It seemed conceivable that banks or even central banks could be bypassed and that a genuine &8220;gold standard&8221; could be created, based on bitcoin and independent of politicians and central banks. In addition to bitcoin, over 700 other virtual currencies have been created. However, none of these virtual currencies have managed to move beyond a niche existence.

    The blockchain used to transmit bitcoins needs to be considerably altered to make it suitable for financial transactions. It is unclear whether the core problems of blockchain in terms of performance, scalability and security can be solved to allow a broad market rollout.

    The question of the future of bitcoin and digital currencies in general will be examined in more detail in module 3: &8220;Bitcoin – a promising alternative for payments?&8221;

    Blockchain Technology – Opportunities and Challenges- Speech by Deutsche Bundesbank fintech

    Image credit: Golden Bitcoins by Julia Tsokur via Shutterstock.com

    It is interesting to see how the public debate has developed since the early days of bitcoin. Efforts are now centred on evolving blockchain into a basic technology capable of facilitating allocation processes across companies. The potential users of this technology are often precisely those institutions which the creation of bitcoin was originally designed to make superfluous.

    In addition to its application in payment transactions, numerous blockchain-based applications are being developed for securities settlement. Possible advantages from the use of blockchain technology arise not only from the technology itself, but also through process optimisation and potential disintermediation in this area.

    Securities settlement has improved considerably in recent years, especially in Europe. However, this development is not yet complete, as the settlement landscape remains complex and is characterised, in part, by convoluted processes. Although we trade securities within nanoseconds, we need several days to settle these transactions.

    We will take a closer look at securities settlement in module 4, entitled &8220;Possible applications and its potential in the post-trade industry&8220;.

    Blockchain Technology – Opportunities and Challenges- Speech by Deutsche Bundesbank fintech

    Image credit: Bitcoin by 3Dsculptor, via Shutterstock.

    These numerous questions and potential radical changes on the financial markets present us, as a central bank, with particular challenges – in payment transactions, securities settlement and beyond. The workshop therefore focuses on the special role of central banks in module 5, entitled &8220;Blockchain – a central bank perspective&8220;.

    As a central bank, we are faced with the question of how to deal with blockchain technology. In settlement, we are affected in two ways. As an operator of central payment and securities settlement systems, we also need to think about the future development of these infrastructures, despite the high performance systems already in existence. Blockchain-based technologies must be integrated in such a way that they provide added value. Indeed, as entrepreneur and politician Philip Rosenthal once said: &8220;He who ceases to be better, ceases to be good&8220;.

    From the perspective of oversight, we need to keep a careful watch on current developments and intervene if necessary. A deep technical understanding is necessary in order to respond appropriately to new business models from a regulatory perspective.

    The two decisive criteria that we need to measure distributed ledger and other new technologies by are the following.

    &; First, does using the new technology improve the security of the systems or at least not make it worse?

    &8211; And second, does the use of new technologies increase the efficiency of financial market infrastructures?

    Current Developments and Outlook

    Many enterprises and institutions currently working on blockchain-based solutions expect to reap great benefits from them. Blockchain technology holds out the promise of cost savings, de-risking potential and efficiency gains. This includes, among other things, the automation of work-sharing processes as well as faster processing and the fulfilment of contractual obligations via smart contract solutions.

    One positive effect that can already be seen is industry-wide cooperation. Dialogue between various market participants on future market developments can foster mutual understanding and facilitate the harmonisation of processes. This makes it possible to adequately react to the challenges posed by new technologies. This is of importance in the financial industry, in particular, which is characterised by network effects.

    Blockchain Technology – Opportunities and Challenges- Speech by Deutsche Bundesbank fintech

    Via Pixabay

    That said, one should not simply gloss over the challenges and weaknesses posed by the technology.

    The requirements imposed on regulated providers cannot currently be met by blockchain technology, or can only be met with difficulty. This concerns, for example, the question of how to engineer absolute finality. Furthermore, the know-your-customer requirements need to be observed and the confidentiality of transaction data must be ensured. This is also a reason why the regulatory status of blockchain technology in many countries is still unclear.

    Furthermore, despite the supposedly greater resilience of its decentralised structure, blockchain still has high obstacles to surmount before it can be applied across the board, owing to its susceptibility to manipulation. Recent hacker attacks are a case in point.

    This is another reason why the debate has largely shifted from open blockchain applications, such as bitcoin, to closed networks with a limited circle of participants.

    Conclusion

    Inefficiencies are often perpetuated not by a lack of technology, but by (historical) structures. Blockchain technology is therefore not a patent solution for change, but it does provide an opportunity to make change.

    Disruptive technologies require time to develop, mature and unfurl their full potential. Not every innovation succeeds, though, and it remains to be seen how the application of blockchain technology will develop.

    Following the revolutionary beginnings with bitcoin, the prevailing view now seems to be that blockchain applications will spread rather more gradually. One might therefore speak of evolution rather than revolution. Before we can even ask questions about the broader use of this technology, we must first be sure that using this new technology is at least as secure, efficient and cost-effective in financial transactions as conventional technology.

    Blockchain Technology – Opportunities and Challenges- Speech by Deutsche Bundesbank fintech

    Image: Global Bitcoin Network by Oez, via Shutterstock.

    Blockchain technology could become a game changer, in the financial industry and, perhaps in particular, beyond. The potential of blockchain technology is often compared to that of the internet. It should be remembered that it took some time before the truly beneficial applications of the internet emerged. With blockchain, we are only at the very beginning of a potential development of this kind.

    Innovations are the lifeblood of a continually developing economy. Moreover, evolution processes are never linear. The first great wave of euphoria, which was also seen in the media, is being followed by a phase of checking, weighing-up and consolidation, before new offers and technologies are rolled out on a broad scale.

    Ladies and gentlemen, Goethe once said: &8220;We know accurately only when we know little; with knowledge doubt increases.&8221;

    My impression is that with the increasing efforts being devoted to blockchain technology, doubts will also increase as to whether this technology can meet the expectations being placed on it, which in some cases are extremely high. The question that we want to examine in more detail in this workshop is what specific doubts we have and whether the technology can overcome them.

    I would like to conclude by wishing you all an interesting and, above all, informative workshop.

    Thank you very much for your attention.

     

    About Carl-Ludwig Thiele

    Blockchain Technology – Opportunities and Challenges- Speech by Deutsche Bundesbank fintech

    Carl-Ludwig Thiele &8211; Executive Board of the Deutsche Bundesbank

     

     

     

     

     

     

     

     

     

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  • @fintechna 4:55 am on November 14, 2016 Permalink | Reply
    Tags: , , , , , , , cryptocurrency, , FinTrump,   

    FinTrump 

    FinTrump fintech

    We know the next POTUS but we do not necessarily know what his policies will be at a granular level, although we know some of his pronouncements at a high and vague level. I will refrain from passing judgement on some of Trump&;s promises, how he managed his campaign, some of his specific messages and the various forces that helped him get elected, such is not my purpose with this post.

    We know, for example, that part of Trump&8217;s platform is to create more US based jobs, which he intends to do partly via tax cuts, partly via the renegotiation of trade deals and potentially erecting trade tariffs, partly via smart infrastructure spending and partly via deregulation.

    Without going into budgetary and economics details, a combination of tax cuts and increased infrastructure spending sure looks to me like a recipe for larger federal deficits, i.e. more government borrowing and the potential for inflation. Indeed, financial markets expect just that as the yield curve started steepening with long term rates spiking up immediately after the election.

    Bank stocks also rose after the election, which is great news for bank investors as well as bankers. I believe this can be explained by two factors: the first being renewed expected inflation which I just explained and the second being potential deregulation. The former seems a foregone conclusion, the latter needs further examination.

    Trump is no fan of regulation and has stated it on many occasions. We should expect many federal initiatives to be toned down, de-fanged or outright destroyed, based on how POTUS and Congress will collaborate. Think of the EPA, the Clean Air Act, Obamacare as being in the immediate line of fire. Trump has also indicated he is no fan of financial regulation, although his pronouncements have been less clear, and we have heard pundit chatter focused on repealing Dodd Frank in whole or in part &; the Volcker rule comes to mind &8211; or even bringing back Glass Steagall. He also has stated he is no fan of the current Fed Chair. Further, some of Trump&8217;s supporters have also publicly criticized the recent DOL fiduciary rule intended for the asset management industry or their profound dislike for the CFPB. I am sure I am missing other financial regulatory flash points. At the same time, Trump needs to fill many positions for his incoming administration and the rumor mill is already hard at work, with industry insiders and/or lobbyists names being circulated to help with the transition effort or as outright candidates for prominent positions.

    I venture that the complex system that is Trump&8217;s vision and gut decisions on the one hand, his transition team on the other hand, and the influences both will be subjected to will flesh out exactly how populist the Trump administration will be or how friendly to the private sector, financial services firms included. Let&8217;s take one example: the CFPB is one of the few entities that has battled &8217; wrongdoings. We also know that banks are still deeply unpopular due to their role in the great recession. Will a Trump administration rein in the CFPB and in so doing risk alienating part of their electoral base which is surely not pro-banks. As far as this example is concerned I sense a tension between Trump and his inner circle and a Republican Congress and Wall Street. In other words, how will &;drain the swamp&; will be interpreted and applied. The same lens can be applied to all other financial regulations which are deeply unpopular with the Republican establishment but may be interpreted as rightful banker punishment by the electorate.

    Be that as it may and given that the Trump administration will be busy with dismantling other regulations and that the DOJ may be focused on other targets than the financial services industry &8211; based on Trump&8217;s goals &8211; it is safe to say that in the most benign case, financial regulation will not increase and enforcement will move into neutral, essentially hitting the pause button, or in the most extreme case, deregulation will be actively sought. In either case, financial institutions will breathe a sigh of relief &8211; small win vs major win &8211; and will enjoy the fruits of renewed inflation expectations. Indeed, the more reliable story here is that of rising interest rates, obviously far out on the yield curve &8211; this has already happened and will continue to happen I believe &8211; and at some point also with short term maturities when the Fed will stop signaling and start raising. Even more so if the Fed Chair is replaced?

    Rising interest rates is good for banks bottom lines. A fatter net interest income does wonders to the income statement and return on equity. The important question here is whether renewed profitability will halt further digitization of the industry or further enable it? Will suffer or go from strength to strength? Will banks, which have resisted change up to only recently, use the excuse of increased profits to stop investing or collaborating in/with startups, stop rolling out ambitious innovation plans and return to a conservative stance? I suspect that in the aggregate the answer may be yes, the more so if return to profitability is swift and material. I also expect leaders to accelerate their plans to reinvent themselves, knowing that secular trends are too important to ignore and that tech giants are the real threat. Thusly a relative retrenching of US fintech related investments may be expected &8211; arguably a continuation from the recent retrenchment &8211; especially in the direct to consumer space. I also expect the third fintech wave to accelerate: deeper digitization via the adoption of enabling technologies sold to incumbents by new b2b startups.

    This aggregate vision gives us only partial clarity though. What will be the impact within the fintech sector?

    Banks have a natural competitive advantage against alternative lenders or marketplace lenders. In a low interest rate environment this competitive advantage was blunted. In a rising interest rate environment this competitive advantage will be used with ruthless efficiency. Thusly, I expect fintech startups in the lending space to come under pressure &8211; natural outcomes would be further bank collaboration, mergers between alt lenders, acquisitions by incumbents and the inevitable bankruptcies of the weaker platforms. Should regulatory pressure on lending practices abate, this will further strengthen banks. Either way I expect banks to increase their domestic lending activities.

    From a capital markets perspective &8211; and to some extent in asset management too &8211;  less enforcement actions coupled with potential outright repeal of complex legislation or regulation and the introduction of simpler frameworks will reduce compliance pressure as well as regulatory dislocation. From that perspective some regtech business models may end up having a hard time finding traction. What is clear though is that any regtech solution focused on fighting fraud, illegal activities, tightening AML/KYC and identity verification as well as strengthening security and cybersecurity will remain strong given the broad consensus towards doing more rather than less in that space.

    Based on my current understanding, I think the net effect of Trump administration will be neutral for the insurance sector and insurtech &8211; not including health care obviously. I do not have enough data points though so I might be completely off the mark.

    We also must deal with the payments sector. Considering an extreme deregulation scenario, might we see further changes targeted at interchange fees, on the credit card side, or more particularly on the debit card side? One cannot discount this entirely &8211; again think of the interaction between a Republican Congress and President Trump. Needless to say that payments solutions that address infrastructure spending, directly or indirectly, will be potential winners. Incumbent cross border solutions that process or finance trade may be hit by a populist Trump bent on renegotiating trade deals and starting a tariffs war &8211; trade finance or supply chain finance platforms come to mind given they cater to onshore/offshore manufacturing/trade value chains.

    Switching back to higher level concerns, we should also keep in mind the potential for a global recession. Should the actions and choices of the Trump administration hurt the US economy and via domino effects trigger a deep recession, the financial services industry will be the first to be hurt: weak $ , lower growth, less payments to process, less investments to make, less lending, increased risk. &8220;Mainstream&8221; fintech would definitely suffer if this were to happen. I believe this to be a remote event but one cannot discount it entirely.

    Based on the last two points, it is therefore logical to infer that cryptocurrencies, solutions  and in particular &8211; due to their disintermediated nature &8211; may become even more attractive as alternative modes of payments, stores of value and means to build new exchange rails; whether new policies have a benign negative effect and especially whether we head towards more sever outcomes.

    On another note, even though a majority of the tech industry did not support Trump, it is hard to imagine his administration being directly hostile to the sector, fintech included, and in so doing hurt job creation &8211; indirect and unintended consequences of supporting &8220;made in USA&8221; and threatening the intricate global supply chains of most tech companies aside. Yet it is far from clear what Trump&8217;s stance is with regards to Silicon Valley and on advanced technologies such as AI, robotics, blockchain, advanced analytics, IoT. Although these have the potential to augment humans, they also have the potential to eliminate them too. How would self driving cars play to his electoral base and his theme of creating mainstream jobs? What about the knowledge economy, the sharing economy, digital natives, digital workers, p2p networks, AI chatbots that would displace bank tellers. All these themes are imbedded in fintech, from payments to helping with lending, to capital allocation, to new financial services.

    The above thoughts are focused on US fintech which is somewhat disconnected on the tech side from Europe or Asia. Domestic US payments is a beast in and of itself for example. European or Asian fintech is linked to US fintech via the $ . Should Trump&8217;s impact be a net negative on the $ and reduce confidence in the US economy, I would expect an acceleration towards decoupling away from the $ for international trade, international settlements, international payments. Alternative solutions such as a new basket of currencies, the rise of one to one currency settlements such as Euro-Yuan or in the more extreme case relying on a as proxy for a new standard would de facto re-align global financial exchanges in a drastic new way and global fintech business models accordingly.

    In summary I see several potential paths:

    1) Extreme populism and no material financial deregulation lead to a global recession:  fintech startups and financial services incumbents will suffer; crypto currencies and blockchain will get a major boost.

    2) Benign populism and some financial deregulation lead to a slight positives and a middle of the road path: some fintech startup models will suffer and financial services incumbents will be stronger, all else being constant.

    3) Watered down populism aligned with major financial deregulation lead to strong growth, at least in the short term: financial services incumbents to be the clear winners along with fintech startups tightly aligned with incumbents&8217; needs.

    The fact that we are faced with such a divergent array of paths speaks to the unique and quasi-quantum state of Trump as a politician and businessman, exhibiting potentially pragmatic and radical intents simultaneously. I will even go further and state &8211; Nassim Taleb who I respect immensely already made this point &8211; that Trump was the ultimate antifragile candidate and that he may reveal himself to be the ultimate antifragile President. (Antifragility works up to a point, see path 1 above with clear winners and losers.) As such, thinking about fintech investment/operating strategies also need to be antifragile. I have already re-aligned my investment themes accordingly.

    Trump&8217;s administration picks as well as the decisions he will make in the first 100 days in office will enlighten us as to which is the most likely.

    FiniCulture

     
  • @fintechna 9:26 am on November 5, 2016 Permalink | Reply
    Tags: , , , cryptocurrency, , usecase   

    30 things you can do with a blockchain 

    30 things you can do with a blockchain Blockchain

    According to Gartner’s Hype Cycle 2016, is hovering somewhere near the peak of inflated expectations, and probably just about to fall off a cliff into the trough of disillusionment at any moment. All over the place, overblown ideas and proofs of concept oversold by those who really don’t understand how the technology works are colliding head-on with scalability challenges, industry-specific regulatory obstacles, dinosaur technology departments and corporate perceptions of events such as the Ethereum hard forks.

    As I said in a previous post, when overzealous innovation teams are claiming that blockchains can do anything you want them to, including making your morning cup of tea, it’s more important than ever to examine the problem your use case is solving and ask yourself whether it involves trust, consensus, immutability or an intersection of the three. If not, then you probably don’t need blockchain in the mix.

    However, it’s also important to remember that it’s borderline-crazy blue-sky kind of stuff that gets people thinking.

    When people outside the blockchain/ ecosystem start referencing discussions like this on /r/, you know that the possibilities are starting to sink in, even if reality hasn’t quite caught up yet.

    30 things you can do with a blockchain Blockchain

    If we revisit this Medium in 2018, many of the 30 examples I’ve given here will be consigned to the dustbin of history. Some of them may already be dead on arrival.

    But the important thing was that someone, somewhere, saw the possibility of transformative power and seized the opportunity to try to make something new work. Seeing the glimmers of a nascent technology evolve is exciting.

    These use cases may not be fully realised towering edifices of technological excellence. But some of them may turn out to be the building blocks of our future world. And when we are plunged down into Gartner’s trough of disillusionment, it’s important to remember that.

    So, if you’ve ever wondered what you can do with a blockchain, here are 30 ideas:

    1. Transfer money
    Bitcoin has been described as “blockchain’s first use case”, and with good reason. For more than 40 years, since David Chaum’s DigiCash, economists have been seeking the holy grail of a digital currency that can eliminate the problem of double-spending and circumvent the issue of needing to trust an unknown third party. When Satoshi’s famous White Paper was published in October 2008, few people realised its impact at the time. Eight years on, the Bitcoin blockchain has still not been hacked — and you really need to try using it for yourself to realise how simple and how amazing the protocol is. The convergence of mobile payments, particularly in the African market, with cryptocurrency, is a niche to watch… companies such as BitPesa are leading the charge here. Read more about using Bitcoin here.

    2. Make micropayments
    Closely related to 1, the ability to use blockchains to transfer minuscule amounts of money is a potential game-changer. Whether you’re talking about in-app payments of a fraction of a cent, microgrid transactions or household appliances moving towards a pay-per-use rather than an ownership model, being able to make tiny payments using cryptocurrency without incurring bank fees that exceed the original payment is a huge opportunity.

    3. Lend people money
    Peer-to-peer lending is one of the fastest-growing areas in personal finance, with users attracted by the opportunity to make a return on their savings in a low-interest environment while enabling other users to borrow at a sensible rate — and all without giving the bank their cut. In contrast to fiat competitors such as Zopa and Funding Circle, BTCJam allows users to do all of the above, but with Bitcoin.

    4. Pay your parking fines
    Last year, New York City councilman Mark Levine suggested that recalcitrant motorists in New York should be able to pay for parking tickets not only with ApplePay, but with Bitcoin.

    No news yet on whether this will actually happen, but in the context of BitLicense, it’s an interesting aside.

    5. Consume content
    The rise and rise of ad-blockers has thrown the traditional business model out of the window. All-or-nothing paywalls have proved successful for a few publishers, but research has shown that users are more prepared to reward content creators if the process is seamless and if they can pay only for what they consume. Startups such as London-based Smoogs, Berlin-based SatoshiPay and Yours provide an easy way for writers, film-makers and other content producers to be paid for what they do. The groundbreaking Brave browser is yet another example.

    6. Charge an electric car
    Small, incremental payments are good for more use cases than just content consumption. Traditional car-charging stations normally require drivers to pay in fixed increments, regardless of how much electricity is consumed by the car’s battery. Additionally, for electric rental fleets, the hire company needs to develop software to track the charge left on the battery, or to do this manually. Imagine a system where every electric vehicle has a chip that allows it to pay directly for exactly the power it consumes, and where all the driver has to do is top up the payment allowance from time to time. German energy giant RWE developed exactly this pilot scheme with Ethereum pioneers slock.it, allowing electric cars to charge while waiting at the traffic lights. Read more about it here.

    7. Certify a supply chain
    Many consumers would prefer to make ethical choices about the products they buy. Recent scandals such as the sale of horse meat as beef in the UK, and revelations about the poor conditions of garment workers in developing countries has pushed this issue into the headlines. However, proving the origin of every component in a product can be impossible, and even if this information is held by a centralised authority, it may not be trustworthy. London startup Provenance offer decentralised supply chain certification. Read the white paper here.

    8. Share electricity with the neighbours
    It should be the easiest thing in the world to do. Take one street that has a sunny side and a shady side. The lucky people on the sunny side of the street have solar panels on their roof. It’s more efficient to use electricity close to where it is generated, so instead of selling the excess power back to the grid (which most networked domestic solar installations do), imagine if the owners of the houses with excess power could sell it on the local market. Unfortunately, this would normally come at a cost, with the homeowners having to agree a price among each other and monitor the amount of electricity being used. The MicroGrid project in New York’s Brooklyn solves this requirement by allowing the households to buy and sell energy via smart contracts on the Ethereum blockchain. No independent calculation or monitoring required.

    9. Prove your identity
    A reliable digital identity system is the Holy Grail of our connected world. We already live so much of our lives online, but it all comes to a grinding halt as soon as we need to somehow connect our carefully honed digital identity with our presence in the physical world, verified by some kind of government-issued paperwork or proof of existence at a particular address. Meanwhile, as we struggle to maintain our credit records and prove who we are to employers, or car rental companies, private corporations are making money from selling our data: data which belongs to us as individuals, and which we should be able to monetise. Too many organisations to mention are working on digital proof-of-identity schemes, many of them blockchain-based. Deloitte’s Smart Identity System is probably the best known .

    10. Let your household appliances pay for things
    IBM’s ADEPT [Autonomous Decentralized Peer-to-Peer Telemetry] research project was one of the first blockchain/IoT proposals, and certainly the highest-profile of 2015. The idea of a blockchain on which a household appliance is registered at the point of manufacture, and which has some kind of autonomous identity which it can use — for example — to purchase consumables such as washing powder, is a powerful one. As the white paper itself notes, scalability is (and remains) the major barrier: “A blockchain to cater to hundreds of billions of devices needs to be scalable…”

    The SPUR scheme under development by Quantoz is based on these principles.

    11. Prove ownership of an asset
    If someone steals your car in most countries of the world, there’s a reasonable chance it will be traced or recovered. Most governments operate some kind of registration scheme based on licence plate and/or chassis number. But what if your stolen possession is a bike? A jetski? A luxury handbag? A drone? Such high-value portable assets are easy to steal and also to remove from a particular geographic area where they may have been registered. Our startup Mamoru aims to provide a global standard for proof of ownership.

    12. Issue shares
    Overstock CEO Patrick Byrne is a long-time Bitcoin advocate, and the retailer already has its own issuance and trading platform, t0. At Money2020 this week, Overstock announced that stockholders would have the opportunity to subscribe for shares of its Blockchain Series A Preferred, which will trade exclusively on t0.

    “Through this public issuance of blockchain-based securities the history of capital markets is entering a new era, the era of blockchain-based securities,” said Byrne.

    13. Execute an equity swap
    Enterprise blockchain technology firm Axoni recently conducted a test of OTC smart contracts for equity swaps involving institutions such as Barclays, Citi and JP Morgan. “Using a blockchain you have a reliable record of who signed to the transactions and when each action was taken, so what you end up with is this distributed data store with a valid, provably gold version of the trade,” said CEO Greg Schvey

    14. Issue money from a central bank
    The idea of a cashless society is hugely appealing to governments around the world. Not only does it circumvent the need to print notes and mint coins, but it also means an end to the anonymity of cash, and provides a way to track the spending of individuals. Various central banks have flirted with the idea, but the Bank of England has gone as far as endorsing an independent study at University College London which proposed how cryptocurrencies might be issued by such an authority. Read the white paper and read my earlier Medium about why it’s different from Bitcoin.

    15. Smooth the shipping process
    Shipping across national borders generates so much paperwork that it can be measured in whole kg (or pounds, if you prefer imperial). When shipments are delayed, it can cause an impact on the whole supply chain as factories wait for components, and in some cases (for example, perishable goods), it can affect the viability of the whole shipment. Days of time and huge administration costs are tied up in producing bills of lading, so there was plenty of interest when shipping giant Maersk recently announced a blockchain-based bill of lading proof of concept.

    16. Authenticate sneakers
    San Francisco startup Chronicled hit the headlines when they partnered with high-end sneaker manufacturer Mache Customs to produce a range of smart-tag-enabled shoes in honour of Kanye West. Busting the counterfeit trade is one of their stated aims.

    17. Run a decentralised marketplace
    Open Bazaar is widely seen as a successor to Silk Road, but it is far more than that. Silk Road was a website on a server hidden by the Tor network. The FBI was able to track it down, seize the server, and arrest those involved. In contrast, Open Bazaar is a peer-to-peer network like BitTorrent. You can download the software and set up your own storefront. It’s worth mentioning that Open Bazaar does not explicitly endorse selling illegal items. From their FAQ: “Sellers on the OpenBazaar network host their own products and are therefore directly responsible for complying with local laws (and their own conscience) when listing items or services. Users engaged in illicit activity cannot hide behind a third party service.”

    18. Register music copyright
    Channelling income from music to the artist who created it is a huge global challenge. Often, the administrative costs of recovering royalties exceed the amount due. Friction caused by cumbersome payment processes mean that fans who would otherwise be prepared to pay to consume music end up illegally downloading content, just because it’s easier.

    Singer-songwriter Imogen Heap, assisted by various Ethereum people, announced the launch of Mycelia in July to address this problem. Billed as ‘fair trade for the music industry’, it aims to offer extra functionality such as allowing fans to pay for additional content, and targeted pricing, such as allowing charities to use tracks at a lower or zero cost.

    Swedish startup Zeptagram are also operating in this area.

    19. Vote
    The idea that we are still voting with pens and paper in 2016 is an anomaly. But electronic voting — whether at local or national government level, or in the context of corporations — is justifiably regarded with suspicion as the results seem open to manipulation without the relevant oversights. Because of the transparency offered by public blockchains such as Bitcoin or Ethereum, proponents of open government are vocal about the advantages of blockchain-based voting. Nasdaq has already announced plans in Estonia to allow corporate shareholders to vote and various startups are developing e-voting machines for state and national elections that work in a similar way.

    20. Register land rights
    Maintaining a national register of land ownership is an expensive and labour-intensive operation. Additionally, in countries where there is a history of government corruption, they may not always be trustworthy. Factom were widely reported to be working on a solution with Honduras to come up with a proof of concept for a blockchain-based land registry. This proved to be less concrete than originally reported and the project has stalled, but someone, somewhere will implement this one day.

    21. Execute a legal contract
    Code is not yet law! Remember this. But some legal firms are so convinced that one day this will be the case, that they are already making the first moves in this direction. London law firm Selachii have already announcedplans to launch digitised agreements based on blockchain technology.

    22. Run a prediction market
    The decentralised prediction market Augur is a brilliantly simple idea. Their platform allows you to make predictions by trading virtual shares in the outcome of events happening in the real world, such as the upcoming US election. If you buy shares in the correct outcome, you make a profit.

    23. Manage a swarm of robots
    This sounds pretty sci-fi, but is rather more based in fact than the title suggests. Increasing automation means that all kinds of industries, from farming to manufacturing, are now predicted to rely on large numbers of robotic labour. MIT Media Lab affiliate Eduardo Castelló Ferrer explains his rationale in this white paper.

    24. Manage healthcare records
    Think of any sector where there is an overriding need for untamperable data and a clear audit trail, and one of the first to come to mind is healthcare. Various startups are competing in this space, as this Bitcoin Magazine storydescribes, but one of the more interesting is the Factom/HealthNautica partnership in which they “are looking to secure medical records and audit trails. This is done by encrypting the data onto the Bitcoin blockchain with a timestamp to verify its accuracy. The records can’t be changed and, because it is hashed to the blockchain, it can’t be accessed without permission. HealthNautica hopes to improve efficiency of claims processing and certainty that the records have not been changed.”

    25. Certify students
    In a world with a mobile labour force, verifying academic qualifications (which are often needed for work visas) can be a slow and painful process. Vietnamese architect applying for a job in France? Russian developer seeking work in Germany? When universities have to be contacted individually and employer references verified over the phone or email, these processes consume time and money. Imagine a world where your certifications were written into a secure global data structure where they could not be deleted or altered. MIT wrote an interesting post about their certification architecture. Similarly, London’s B9Lab certify successful graduates of their excellent blockchain developer course with an entry into the Ethereum blockchain.

    26. Trade cryptocurrencies
    Bitcoin is not the only cryptocurrency! Hundreds of other cryptocurrency blockchains exist, although the majority of these are either defunct or carry virtually worthless tokens. A host of exchanges, some more reputable than others, have sprung up to cater for those which are worth trading: Bittrex, C-Cex and Poloniex are some of the popular options. Check out CoinmarketCap for an exhaustive list. And of course, I can’t resist mentioning my own altcoin portfolio tracker, CountMyCrypto. Since my friend Bruce and I launched it nearly three years ago, we’ve seen countless coins and exchanges spring up and die, and enough drama to put a soap opera to shame.

    27. Rent a car
    The car rental process is often more cumbersome than it needs to be, with insurance documents and identities that need to be verified, and vehicle mileages and damage reports that are still manually verified in many cases. This is how DocuSign described their smart contracts trial for car rental, in conjunction with Visa’s innovation team.

    28. Verify your work history
    Closely aligned with student certifications on the blockchain, the idea of a careers networking API based on a blockchain is one that’s been around for a while. At Mamoru, we’ve been working on this, since we won a BlockchainX grant from Wanxiang Blockchain Lab earlier this year.

    29. Get compensation for flight delays
    When the Ethereum DevCon2 conference happened in Shanghai earlier this month, attendees who flew to China from all over the world were notified of an interesting opportunity before the event. The Flight Delay dapp trialled a new proof of concept that allowed travellers to share the risk in the event of flight delays. Stephan Karpischek wrote a good post about the results of the experiment.

    30. Buy beer
    OK, so this is really a subset of use case 1, but you can’t be in Berlin and not mention Room 77. It’s a piece of cryptocurrency history, as the first bricks-and-mortar establishment anywhere in the world to accept Bitcoin. And, of course, it’s also a favourite haunt of Mamoru and all the other awesome Bitcoin and blockchain startups based in Germany’s capital city.


      Agile SDET, Rubyist, blockchain & cryptocurrency. Co-developer http://countmycrypto.com . Co-founder @mamoru_io. Co-founder London Bitcoin Women. Veggie. @rhian_is 
    This article was originally published here
     
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