Forbes: how emerging markets and block chains end poverty

nnnIn the wake of the runaway, the chain-chain start-up company Everex conducts ICO, which aims to achieve Pratt u0026 Whitney Finance, the company’s blog said that the first decade of the lesson is that the global banking services behind the region’s population really need is inclusive, the right and the availability of financial instruments The And the transparency of the block chain can reduce corruption.n
nnTranslation: Annie_Xun
n2015 Forbes Interview with William Blair Partner Brian Singer, discuss how Bitcoin will end the global poverty situation. Singer argues that low-cost Internet access allows the emerging market population to use a low-cost payment system to record transactions transparently.n
nAt that time many people laughed at his idea, in fact, when the encrypted currency and block chain has not yet reached the current popularity. But for so many years have changed so much.n
nDespite the recent volatility of the encrypted currency prices, it could still be ten times more than it was at that time. More institutions and governments are aware of the value of the chain chain as a trading platform, and new platforms such as the Ether Square can even achieve smart contracts based on block chains.n
nBut what is the relationship between the current block-chain technology development model and Singer’s theory? Can block chains and encrypted money technology provide a fair environment for mankind and promote the continued elimination of poverty?n
nPratt u0026 Whitney Financen
nWorld Bank (World Bank) data show that in 2013 10.7% of the global population daily consumption level of less than 1.90 US dollars. Although this figure has declined over the past few years, this ratio still covers 750 million people. Pratt u0026 Whitney Finance is considered a key factor in reducing poverty. It refers to whether people can enter the formal financial system. For now, is to obtain banking and other financial services. Unfortunately, 2 billion adults still can not get banking services. In developing regions, mobile phones replace most of the financial services.n
nBlock chain change The potential of the financial services industry may change the status quo. The block chain overcomes many of the existing bank restrictions. Unlike traditional banks that require an entity, the block chain does not need to be run. Block chains run on a distributed network without the need for complex and expensive private infrastructures. Banks and telecommunications companies are now able to save money by providing bank accounts and mobile transaction services to customers, while the chain chain can save this part of the cost.n
nBlock market start-up company Everex’s ICO has raised more than $ 6 million (about 27,000 dollars), Pratt u0026 Whitney Finance is one of its tasks. The company will provide remittance services, microcredit, and currency exchange for population covered by global banking services through block-chain technology.n
n”The lessons of the previous decade are the real needs of the global banking services behind the region’s population is inclusive, the right and the availability of financial instruments that allow industrial countries to provide class mobility to foreign residents.”n
nTransparency means less corruptionn
nAnother way to eliminate poverty is to limit corruption. Automation and digitization can minimize corruption channels because most powerful systems will record and track all transactions. Unfortunately, once these systems are privatized, they are manipulated.n
nBlock chains as a distributed book can provide unprecedented transparency. Block chains are tamper resistant. The use of smart contracts also makes the chain more powerful. Payment is not the only transaction that can be recorded in a transparent book. Land property and other property certificates can be stored in the block chain.n
nLand plunder or global problems, the greater the risk of the poor. Corruption causes some shameless people to forge paper documents and manipulate them. Small farmers may be driven out of farmland. These people plundered the land by forging documents and titles. The land is used for urban development.n
nBlock chains can make ownership of control, because records can not be tampered with, any attempt to tamper with the network will be seen by all. The Application of Block Chain Technology in Land Registration in Sweden. Japan is also trying to use the technology for government contracts. Developing Countries’ Role in Exploring Block Chain Technology in Accounting Transparency.n
nDeveloping countries are profitable in ways to combat corruption because corruption remains the main problem in these markets and continues to cause poverty and development to stagnate.n
nMicrocredit drives growthn
nMore than a decade ago, the prosperity of microcredit was born with the hope of reducing the poverty of emerging markets. Now the industry has been criticized for its contribution to this goal, and some people even say that there is no evidence to prove its positive impact.n
nAnd people in the field of microcredit think it has become the lifeline of many poor people. Like regular sector firms, informal trade also gains money from capital flows. Funds can be used as capital for the sale of goods or capital of entrepreneurship. However, unlike formal enterprises, the poor are more difficult to obtain funds. Can not get assets and stable income, most poor people can not get traditional loans.n
nBlock chains can improve mechanisms to make microcredit possible. The block chain already provides payment and billing mechanisms. The account provides the account holder’s history of the transaction, so the loan and income history does not require an external audit or document to be provided.n
nIn addition, the block chain itself becomes a data source, making the analysis more transparent, using a better algorithm to determine the amount of loans, terms, interest rates. The optimization of these mechanisms can create a sustainable microfinance ecology for emerging markets.n
nEnd povertyn
nThe block chain is becoming a tool for social change. But it can not be said that the block chain can end poverty. Poverty is a multifaceted problem and requires a holistic solution. The benefits of the block chain can affect some of the factors that contribute to poverty.n
nAt least theoretically, low-cost, transparent and transparent trading methods have the potential to bring benefits to the poor. The block chain technology has broken through the pay field mentioned earlier by Singer. The use of smart contracts has made the financial services of the chain-chain platform more extensive and diversified.n
nHowever, as with all the good wishes, we have witnessed a wide range of applications and successful case studies before we can make judgments. Institutions and the government continue to add block-chain project, is undoubtedly a great idea to become a reality sign.n

Giga Watt – The history of the top mine in the United States


Reporter: pencil leadn

Many people often compare Bitcoin as a digital currency with real gold. New York Times Financial and Technology columnist Nathaniel Popper even wrote a book on digital money, and named “digital gold”. For gold and digital money, it needs to be obtained by mining. However, the main difference between digital money and gold, silver and other commodity-based goods is that the mining of digital money requires a digital approach.n
nMining itself requires a lot of computing power, which also means that there will be a lot of power consumption. Mining will require a high tariff, which will offset the profits generated by mining a large piece. Therefore, if the mining in areas where electricity is high, the return on investment may be zeroed.n
nIn 2012, by establishing a megawatt scale mine in the northwestern US Pacific, the name is called MegaBigPower. The mine has also officially opened the world of the world. MegaBigPower is the predecessor of the Giga Watt project. Giga Watt is mainly operated by two companies, one is Giga Watt Inc., which is a digital currency mining operations company; the other is Giga Watt Pte.Ltd, which is a mining equipment sales. The cooperation of the two companies also created the world’s largest single mine.n
nGigaWatt is located in the city of Veneto, Washington, which is known as the “power hub of the Great Northwest” because of its hydropower dam on the Columbia River. Giga Watt currently has 5 megawatts of electricity for mining. And in the future this figure will reach 50 megawatts.n
nSince 2016, Giga Watt has made great progress. The team from a team of less than ten people, in just a few months, increased to thirty-five people. In order to meet GigaWatt’s service needs, team members include sales, customer service, operations and technical support. Under the leadership of the team leader, they became a team with strong cohesion.n
nThe Giga Watt project is currently available worldwide for WTT tokens. To allow investors to use the top equipment of the Giga Watt mine free of charge. Specifically, each WTT token represents a mine-free right for a mine facility for a period of 50 years. For example, a regular investor to buy a power consumption of 1350 watts of the miners want to host, then only need to buy 1350 WTT tokens in advance, you can host this machine. The general mine will be scrapped after two and a half years, and the investor will only need to re-purchase the new miner, and the token can still be used to host the new miner until the 50th year. In the daily mining and mining, to remove a small amount of electricity and custody fees, mining income generated by all owned by investors. And investors are free to choose to dig Bitcoin, the ether square or Leight coins, and even other cottage currency. Investors only need to purchase miners can. Giga Watt sells miners through its official website.n
nGiga Watt’s tokens WTT tokens are on sale and the deadline is August 1. The current price per $ 1.15 can subscribe for a WTT tokens.n
nWTT tokens to buy official address: https: //
nGIGA WATT Minerals Purchase Address: https: //
nPlease pay attention to the Giga Watt official public number, and thousands of miners to explore the mining of the road.n


How will the EU regulate ICO and tokens?

nnnIn the ICO and digital money continue to develop at the same time, people are also very concerned about their progress in legal supervision. At present, some states in the United States in this effort has been the result, but few people on the EU how to deal with tokens and ICO to explore. This article discusses the theme of this discussion, the analysis of the EU regulatory ICO and tokens the complexity and difficulty, but also that will achieve initial progress.n
nnTranslated by: Inan
nICO world has done a lot of things.n
nThis kind of block chain uses millions of dollars in sales to attract interest from funds, investors, lawyers and regulators. But so far, regulators have remained largely silent on the issue.n
nBut that does not mean they have no action.n
nThere has been a lot of views on how the law of the United States has applied to tokens as the main topic of discussion.n
nPerhaps this is what makes ICO sponsors looking for jurisdictions that can provide legal clarity in this area. Some countries are aware of this and have responded to this competition.n
nSurprisingly, however, these discussions rarely involve how EU law deals with tokens and ICOs. So let’s take a look at the question and think about how the supervisors will appear.n
nLegal Issues n
nFrom the most basic level, the United States and the EU tokens and ICO legal issues are the same.n
nSimilar to the United States, the key question is whether the token is a security. If the answer is yes, then there will be snowball effect, because it will trigger financial supervision.n
nOther important issues include anti-money laundering (AML) law, payment of service regulations, and, of course, taxes. However, these issues are more complex under EU law than in US regulations.n
nThe main reasons are the following two aspects.n
nFirst, the EU regulatory framework is changing. Many laws are new and are evolving or reconstructed. For example, MiFID II (Fundamental Act of Investment Services), prospectus rules (PR3) and new anti-money laundering directives. The new capital markets union in the European Union is witnessing a lot of things happening.n
nSecond, the situation in the EU is quite complex. The laws of the European Union and the laws of their member States are different, and many EU laws have not yet been implemented in national law.n
nThis can sometimes lead to inconsistent regulatory relations among member states, even if theoretically, the law should be the same. There are many other issues to be decided by the member states, which may lead to differences in their regulatory approach.n
nThe right wayn
nAs mentioned above, the fundamental question that each ICO sponsor would raise is: “Is my token on the securities?” Unfortunately, according to EU law, the answer is not so clear.n
nThe EU’s Investment Services Fundamental Act MiFID provides the term “negotiable securities”, which is a broader category of financial instruments.n
nTransferable securities are securities that can be transferred in the capital market (except for payment instruments), such as:n
nnShares of the Company, other securities equivalent to the shares of the Company, the Partnership and other Entities, and the depositary of the Sharesn
nBonds or other forms of securitization debt, including deposit certificates of such securitiesn
nSo that people can purchase or sell any such negotiable securities or securities that can be used to settle negotiable securities, currencies, interest rates, earnings, commodities, indices and measures in cash.n
nnThis is a key definition because it applies to other laws, such as those relating to the prospectus requirements.n
nThis definition is very broad because it basically defines transferable securities as “securities that can be transferred in the capital market”. Theoretically, all the types of securities mentioned in this definition do not apply to most tokens.n
nHowever, the above list of three points is only a more prominent example, not exhaustive.n
nA reasonable approach is that as long as the given token is different from any of the securities listed above (such as stocks, bonds, etc.), then it is not securities, even if the above list is not exhaustive.n
nThis means that many tokens should not be regarded as securities, and they tend to have these characteristics, such as by asset support or rights related to the token (such as the capital of the tokens).n
nUnfortunately, the EU does not have any court decisions or official guidance similar to the “Howey test” in the United States.n
nIn fact, this means that all the doubts are mainly addressed at the level of the member states. Although this is usually not a problem on well-known standard securities, but the tokens and ICO are not the same.n
nIt is noteworthy that many EU countries have their own developed securities law theory, these theories and other member states are not necessarily the same. As long as the EU’s clear framework is missing, these local practices will play a leading role.n
nThis means that even if the ICO is not only an EU-wide activity, it is global, but the legal analysis of specific tokens will still be based on the laws of a single member State. Although the EU law provides a general definition of “negotiable securities”, there is a lack of more specific interpretive guidance on tokens, which must be mitigated by the Member States’ own laws and their local interpretations.n
nIn the future, this may even lead to the emergence of different approaches (and competition in the EU).n
nThere had been an example of whether VAT (VAT) was levied on digital currency exchange and finally made by the European Court of Justice.n
nOne of the main objectives of the EU is to take care of a single market and to avoid differences among member states. Therefore, taking into account the type of token, distribution, etc., there is room for action.n
nRegulatory guidancen
nThe European Securities and Markets Authority (ESMA) has yet to make any public statements regarding ICO.n
nInterestingly, ESMA issued a report on distributed book technology (DLT) in February 2017. At that time, people have launched a laws on the use of securities laws and regulations.n
nUltimately, ESMA has taken a concrete approach to this problem, which can be explained in the following sentence:n
nn”According to the current market initiatives in the securities market, the rest of this report focuses on the licensed DLT.”n
nnTherefore, it seems that ESMA has deliberately avoided referring to public chains, tokens and ICOs in the report. Therefore, the EU is currently no regulatory guidance in this regard.n
nThe Financial Action Authority (FCA) adopted another approach, and its April 2017 document examined the ICO.n
nOf course, ESMA may also have a careful study of ICO in the future. Its positive results will mean the elimination of some doubts. On the other hand, people do not know what will happen and what constraints it will have.n
nThe next stepn
nIn general, it is unclear whether the EU’s securities laws will be used for tokens and ICOs and how to apply them. In fact, the laws of its member states will play a greater role, but this is not necessarily the best solution for the EU.n
nThis uncertainty has led to market-led efforts to provide clarity for the application of EU law (including securities laws) in tokens and ICOs. A prominent example is the European Regulatory Initiative, led by the block chain investment platform, Neufund, which issued a report titled “Token As Novel Asset Class” Has been supported by many industry participants.n
nThe EU is like a slow-moving giant compared to a smaller, less flexible and less complex jurisdiction. Sometimes the EU needs to spend many years to take action, especially in the area of ​​financial regulation.n
nICO and tokens require a right and fair decision as soon as possible. The market does not require a comprehensive legal solution, as long as there is an explanation that defines the basic problem.n
nI believe the EU can do that.n

Encrypted money investors into the market, Amazon, Google, Facebook and other technical giants are not in which

nnnRampage comments: the current encrypted currency and block chain industry hot, we see the rapid influx of funds in the industry into the moment, especially since this year’s ICO boom has contributed to this phenomenon. Some people say that this is reminiscent of the 1999 network stocks bubble, yes, you can call it a bubble, which is absolutely no lack of speculation and risk. But for entrepreneurs and technology investors, the encrypted currency and its underlying block-chain technology are attractive in today’s technology sector, as this may be the only high growth area that is not occupied by veteran industry giants.n
nnTranslation: Clovern
nCapital almost instantly influx in the encrypted money industry. You can call it a bubble, or the wilderness west. Some people say that this reminiscent of the 1999 network shares, or nearly 400 years ago, “tulip frenzy.”n
nTo be sure, there are indeed a lot of speculation, and the risk is numerous.n
nBut for entrepreneurs and technology investors, the encrypted currency and its underlying block-chain technology are attractive in today’s technology – which is likely to be the only high growth area that is not occupied by industry giants.n
nThink about all those popular terms such as clouds, robotics, networking, virtual reality, and artificial intelligence. Under each category, the name immediately in your mind is almost Apple, Alphabet, Amazon, Facebook and Microsoft.n
nThe five companies totaled $ 3 trillion and have $ 530 million in cash. They are large and growing, building a future computing platform.n
nFor Chris Dixon, a partner at venture capital firm Andreessen Horowitz, these companies are relatively absent in the field of encrypted currency and block chain.n
nDixon said in an interview with CNBC recently:n
nn”One of the big challenges facing start-ups is that we live in an era where there are many powerful veterans.”n
nnDixon led his company to invest in a website that purchased, sold and stored encrypted currency Coinbase, as well as encryption-protected chat service applications Keybase. Andreessen Horowitz also funded Polychain Capital, a hedge fund focused on investing in digital currencies.n
nAccording to CB Insights data, the second quarter, block chain start-up equity investment soared 44%, reaching $ 232 million. However, the growth of the encrypted money sector is due to the initial digital tokens issue (ICO), which is a model of unregulated sales of digital money or tokens, which use these digital currencies or denominations as a new Form currency. Autonomous Research showed that in the first half of 2017, more than $ 1.2 billion was raised through the ICO.n
nBut do not confuse quantity with quality. Most of these things will certainly go to zero, and ultimately, the SEC will also express a lot of views.n
n’Sit on the sidelines’ n
nBut so far, there is still a lot of room for maneuver, because the technology leader around the edge of the chain to invest at the same time, also put its time and money on other places.n
n”I can not imagine that they are going to see what is happening now as a business for their business,” said Barry Silbert, founder and chief executive officer of the Digital Monetary Group (DCG), which has invested in a series of chain-chain companies, projects and currencies A competitive threat, they will not be the forerunners, they will see the occurrence of innovation, they have to learn, sit on the sidelines, and then find some very good embedded in their business model of things when the acquisition.n
nIt is important to distinguish the block chain from the encrypted currency.n
nA block chain is a distributed electronic sort of book that enables real-time tracking of all transactions, such as payments, loans, and contracts. The encrypted currency makes an application of block-chain technology, using its de-centered nature to create alternative forms of currency that are not linked to the central bank. Hundreds of encrypted money items will create their own currency.n
nAlthough the technical giants almost did not invest in the encrypted currency, but at least they block the chain or pay attention to, and put a small amount of money to carry out the work.n
nMicrosoft has introduced a product called blockchain as a service in its Azure cloud, which essentially provides hosting services for block chain start-ups and workloads. According to an article on Forbes, Amazon Web Services did a similar business in DCG a year ago, but did not release any official announcement.n
nMost of Alphabet’s business activities in the market are carried out through its venture capital firm, GV, which includes start-ups such as block chains (company names) and distributed payment networks used by banks. Google’s artificial intelligence department, DeepMind, is also using classification books like block chains to track and protect medical data.n
nAt the same time, Apple and Facebook did not take any action on this subject.n
nThe biggest move among large suppliers in this area is IBM, which last month said it is building block-chain technology for seven of Europe’s largest banks to promote international trade in small and medium-sized businesses. Its chief executive, Ginni Rometty, said at a meeting in January that IBM is using its chain chain to track its finances and to work with large retailers and shippers to implement block chains in global logistics systems.n
nThese are early actions, industry rookies still have the opportunity to create a new block chain platform.n
nEncryption projects have not even been confirmed, in addition to Bitcoin there is no breakthrough in the use of cases as a value storage, although Bitcoin is also very unstable.n
nInvestors saw a promising market, while Jeff Bezos and Mark Zuckerberg were not quietly acting. Josh Hannah, a partner at venture capital firm Matrix Partners, has been buying encrypted money for his clients, but has not yet invested in the company’s funds into any project or start-up.n
nHe is waiting to see.n
nHannah had previously helped create a betting site Betfair, he said:n
nn”This is, to a large extent, closer to the results of the projects we usually participate in. If encryption technology fulfills its commitment, then it is likely to be one of the factors that subvert these platforms, which is for entrepreneurs and venture companies That is very good. “n
nnHannah points out:n
nn”That is, at least it will subvert the venture company.”n

US Department of Homeland Security allocated $ 794,000 to finance the development of block chain key management tools

nnnThe US Department of Homeland Security’s Small Business Innovation Research Program (SBIR) announced a $ 794,000 grant to Evernym, a chain-based start-up company in Salt Lake City, to help develop key management tools. It is reported that, in addition to the Department of Homeland Security, other US government agencies are also funding block-chain projects, indicating that the development of the technology has been the attention of the government level, its development worth the wait.n
nnTranslated by: Inan
nA chain-chain start-up company has received funding from the US government to develop a chain-chain key management solution.n
nOn July 20, the Ministry of Homeland Security’s Small Business Innovation Research Program (SBIR) announced an allocation of $ 794,000 to Evernym, Salt Lake City. The project has also been invested in a chain-chain start-up company, and the funding for Evernym is mainly used to develop key management tools.n
nAccording to the Department of Homeland Security, Evernym will design and create a “centralization key management system for block-chain technology”. The research project is managed by the department’s cybersecurity department.n
nIn a statement, William Bryan, vice minister of science and technology at the Department of Homeland Security, said:n
nn”We need a better and safer way to protect the identity and privacy of web users.City chain research has great potential to provide a solution that makes it more difficult to attack online users.”n
nnThe SBIR program is a project that allows small businesses to participate in federal research and development. Other start-up companies that have received funds from the Department of Homeland Security include BlockCypher and Digital Bazaar.n
nThe Department of Homeland Security is not the only US government agency to fund block chain projects, and the National Science Foundation is one of them.n

Coin Surveys Initiator: SEC ICO Guide is “Fresh Air”

nnnThe decision to determine the nature of the currency has always been the core issue of legal regulation, so the SEC said that the issue of the token issued by The DAO project will have a significant impact on the industry. The coin founders also believe that this view shows that the SEC will support the development of the field, especially to help attract the participation of mainstream users.n
nnTranslation: Annie_Xun
nThe first token of the encryption token as the head of the promotional tool for investment tools may not be what you expect.n
nBut the introduction of this concept to the industry center’s Token Summit sponsors believe that the SEC, the Securities and Exchange Commission will strongly support the development of the field. The SEC believes that the toll issue by The DAO is a security that has caused the impact in the industry that has been looking forward to the news.n
nInvestor, author William Mougayar, believes the guide will help improve the standards of entrepreneurs who want to adopt the financing model.n
nMougayar said ICO may be in line with the definition of securities as “balanced” and “a fresh air”, referring to its recent understanding of the negative impact of growth in the field.n
nn”The SEC has bluntly pointed out two shortcomings of the ICO value chain, one is ICO over-publicity and the other is the lack of transparency in revealing important basic information to consumers.”n
nnSo Mougayar said that the SEC guidelines that are seen by observers as rare in scope and coordination will help the industry gain the mainstream user and thus further refine.n
nn”The SEC view underscores the need for ICO projects to strengthen the specification.”n

Tierion tokens to raise $ 22 million within 9 hours


Translated by: Inan

nTierion is excited to announce that Tierion’s tokens have raised more than $ 22 million (totaling $ 25 million) in nine hours and started in Shanghai on July 27, 2017 at 21:00.n
nUp to now, people are very positive feedback on the tokens sales, participants have praised the process of efficient. Although a small number of participants encountered some minor difficulties in receiving a confirmation email, the team solved the problem in a timely manner.n
nThere is also the opportunity to participate in Tierion tokens on sale, and Tierion suggests that people who wish to participate will act as early as possible to avoid disappointment.n
nDistributed Capital is the first venture capital fund in China to focus on supporting companies that build chain-chain innovative use cases, previously announcing support for Tierion tokens.n
nThe Tierion network is a large data validation platform. Tierion works by creating proof that connects data to transactions on the chain chain, which is called “anchoring”. Anyone who has this proof can verify the authenticity and timestamp of the data without relying on trusted authority. Tierion is connected to Bitcoin and Ethernet Block chains.n
nThe tokens sold Tierion Network Token (TNT), which is an ERC20 smart contract tokens. TNT will be used to pay for the services provided by its network and to provide economic incentives to maintain the runtime and reliability of the network. The proceeds from token sales will be used to create a global network that covers the increasing cost of connecting data to block chains. The funds will also be used to support the continuous development of technology within the Tierion ecosystem.n
nYou can view all the details of the token sale and the complete white paper of Tierion on its website. The tokens will continue to open until the completion of 25 million US dollars target, even if failed to reach the target will end on August 10.n

Major Business Revolution: Why Block Chains Are Future

nnnAs the digital money market is becoming more and more active, people are paying more attention to the chain chain technology behind them. Many people think that the technology is like the original Internet, which will bring great changes to many aspects of society. To achieve business change. This paper analyzes the problem and introduces the potential and advantages of the block chain technology, and is confident of its prospect.n
nnTranslated by: Inan
nThe price of Bitcoel has recently hit a record high of $ 3025, only 200% more from this year.n
nAswath Damodaran, a professor of finance at New York University, is the authority in the field of value assessment. He said that in the younger generation, digital money has replaced gold as their investment option, and sooner or later foreign currency such as Bitcoin and the currency will be associated with the currency To compete.n
nSo, will the currency become popular currency and pull the popularity of the euro, dollar, pound, ruble and other legal currencies? Anything that can be considered “money” needs to have three functions: value storage, value scale, and exchange media. The value volatility of Bitcoin shows that it has just started to meet these three criteria, but it has the potential to achieve these functions.n
nHowever, digital money like Bitcoin is only one application that supports the technology block chain. According to the BBC’s explanation, the block chain is:n
nThe method of recording data is a digital account of transactions, agreements, contracts and anything that requires independent recording and verification. The most special place is that the book is not stored in a fixed place, it is distributed in hundreds of thousands of computers around the world. Everyone in this network can access the latest version of the book, so it is very transparent.n
nThe block chain combines the security of cryptography, the data storage and transmission of the encoded form with the peer-to-peer network to create a trusted database that is trusted but not controlled by anyone.n
nIf the chain chain can play a role in all walks of life, we will be able to see a more digital global economy that will promote economic growth and reduce poverty.n
nhuge potential n
nIn today’s business world, we still need trustworthy administrators (auditors, board of supervisors, etc.) to manage and record numbers and databases. The potential of the block chain is that it provides the opportunity to “allocate” these digital books to others through computer networks around the world. This can actually save the business based on a trust relationship, such as banking, auditing, lawyers and even government work. For example, Sweden, Georgia and Ukraine are transferring property records to the chain.n
nOn the financial side, people rarely borrow money face to face, so the banks need to act as a trusted middleman. The advantage of digital currency, such as coin, currency, etc., is that they eliminate the need for a trusted third party and use an encrypted secure database. This has a significant impact on any business that needs to verify payment and fulfillment of the contract (ie, most companies).n
nThe advantage of the block chain is that it can easily digitize everything and do not need equivalent things in the real world. For example, contracts, wills, contracts, and stock certificates may only require a piece of code that is stored on the chain that represents the exchange. Bitcoople’s shared network of computers will directly verify the transaction, no longer need a trusted intermediary to carry out this activity, it will not cause the transaction costs of the transaction.n
nAuthenticity and trustn
nThis verification process brings the possibility of change for many industries. Distributed books (block chains) provide the opportunity for each application of its system to enhance authenticity and trust. It can prove who has something at some time. Any existing validation contract, ownership, payment, or even performance can be transferred to the block chain.n
nThis will make the current management or verification of the transaction no longer have the privilege for the current world to operate the way to bring great changes. As with any transfer of power, the rulers are reluctant to give up their rights. In this case, the “winner” will be an existing company rather than a start-up, because the new system to play a role, you need to buy and trust, and the existing brand in this area has an advantage.n
nWhat is the main advantage of the block chain? By implementing the functions of the record manager, it will promote decentralized development, reduce the number of intermediaries involved in the business, and provide an alternative to how to store value. Physical assets and digital assets can be verified online to prove ownership of ownership.n
nSince it is possible to independently verify and track transactions stored in the chain chain, it is easier to combat crime, counterfeiting and fraud, and to reduce the systemic risk in the financial system. Distributed digital books will make data changes or forgery almost impossible because the data changes must be made in all the relevant “blocks” of the digital chain, so this behavior is exposed. This will reduce the associated costs and promote economic growth and prosperity.n
nThe financial industry is already changing: the world’s largest custodian bank – New York Mellon Bank is using a chain-chain platform for government bond settlement. One of the key research areas of the Bank of England is how financial technology affects market and social functions.n
nAnother benefit of the block chain is that its digitization function makes it possible to make miniature payments possible. Countries such as India that are large but still many can not do business with banks will be able to experience deep economic changes through the technology to drive storage, lending and future planning.n
nprivacy protection n
nOnline marketing and advertising industry in the Internet users, Facebook and other social media platform (the number of users over 2 billion) generated data and Google and Amazon to collect a large number of personalized data to the target group advertising. Block chains can maintain our online privacy, allowing us to store digital footprints in our own unique chain of chains and control who can access, rather than creating these records from these large organizations. The data will be decentralized and controlled by ourselves.n
nBlock chains can strengthen the entrepreneurial spirit of developed and developing countries by breaking the barriers of bureaucracy and corruption by circumventing existing power structures. For example, Digital Book Everledger is tracking real-life items – diamonds to prove its origin and ownership. In this way, the trust of the system has been strengthened.n
nWhen the Internet appears, it is a transformative force for many industries, and block-chain technology has the same potential. By transferring trust from the current “verifier” to the distributed block chain system, the world will witness the transfer of power to the public, which is a real idea of ​​change.n

Superbook block chain project adds ten members

nnnRunaway comment: Super book open source code library Fabric 1.0 release, while adding ten members. Including ANNE, RZXT Technology Development, Capgemini Financial Services, New H3C Technologies, Revelry Labs, Smart Link Labs, TradeIX. Other business block chains and distributed book technology, including Hyperledger Sawtooth, Hyperledger Iroha and Hyperledger Indy.n
nnTranslation: Annie_Xun
nHyperledger Fabric 1.0 announced the addition of ten new members to the open source project to promote cross-industry block-chain technology development.n
nOfficial news, recently joined the general membership include ANNE, RZXT Technology Development, Capgemini Financial Services, New H3C Technologies, Revelry Labs, Smart Link Labs, TradeIX.n
nProject Executive Director Brian Behlendorf said:n
nn”It’s great time to welcome so many companies in different industries around the world, which is the time since the recent release of Fabric 1.0 allows you to achieve your goals in the community and to facilitate the deployment of this year’s technology.” These new members will help us build Open block-chain software that allows more people to use Hyperledger project version 1.0 “.n
nnAccord Project, Tecnalia Research

UBS: block chain into the financial industry new “pipeline”

nnnRush when comment: the current development of block chain technology is full of speculation, especially in the financial sector. In this boom, it is easy for people to produce this technology will soon develop to the ubiquitous, quickly change the industry we know this kind of illusion. But this is not the case, UBS experts said that the block chain use cases to be large-scale applications, and even all walks of life in every corner, at least ten years, but the real use case is just around the corner.n
nnTranslation: Clovern
nWe can expect to see the real block chain use case in the next 18 to 24 months.n
nThe current block chain technology is full of speculation, not only in the financial industry, the enthusiastic pursuit of people closely follow the potential of the revolutionary technology to achieve every step of progress.n
nThe consortium of technology giants such as Accenture, Microsoft, and IBM is ready, and the most prestigious financial institutions are actively developing the technology and positioning the technology as well as where to implement it.n
nAnd in this piece of excitement, it is easy to make people think that this new technology will soon develop to ubiquitous, quickly change the industry we understand the face. And we learned from the UBS experts there is not the case, but the real use case is just around the corner.n
nUBS Investment Bank Strategic Investment and Innovation Director Hyder Jaffrey said:n
nn”We are looking at this technology on a time-frame basis and we are fully convinced that we will start to see some of the more useful use cases in the next 18 to 24 months, they will not be ubiquitous, but true Will exist, they will be rooted in the business we are now engaged in the trend.n
nnFor example, IBM is working with global shipping giant Maersk to streamline the financial processes that are not yet paperless and are plagued by human error and other inefficiencies. Perhaps the financial sector contains the most viable block chain use case, and these use cases also include smart policies.n
nJaffrey said:n
nn”We are looking at use cases in foreign exchange, such as post-transaction areas. Similarly, you have to understand the details of each project in terms of the breakdown of the books, for example, in some of these cases, you may end up with a The main function of the classification of books, but also bundled books, and as time goes on, the main functions of this sub – account will eventually be transferred to the classification of books.n
nnTo achieve this potentially revolutionary change, a step-by-step approach must be taken to fully implement the block chain in the financial sector.n
nJaffrey said:n
nn”So you need to gradually introduce the classification of books, rather than the full function of the big shake. We are currently in transition mode, can not simply close the financial markets, and then the next day to a new technology to re-open these markets So that’s the transition. “n
nnAlthough we are now in some way to pound the chain of chain speculation flames, but it is clear that UBS professionals for this innovation can be achieved after the rapid growth is still very optimistic.n
nn”If you are still considering the financial institutions or financial markets for the exploration of this technology, then the intelligent contract block chain, I think the smart contract and the chain should be linked to the two terms.n
nnHyder said:n
nn”This is mainly for the institutional financial market to bring a new form of pipeline. Different styles, different dynamics, different architectures are already successful.However, I think that is being described by the advantages of efficiency, cost-effectiveness, to promote capital efficiency The ability to raise and lower risk, which is a huge benefit to the market, so no matter what kind of nuances exist in the positive role of science and technology, I think we will eventually get these advantages.n
nnUBS SmartWealth co-head Shane Williams said:n
nn”For wealth management, we are more interested in individuals than institutions, so we are studying the subject of identity on the chain.”n
nnn”Before the technology really fires and develops to ubiquitousness, there are still some basic elements that need to be prepared, but there are some worries, and you’ve seen some recent news about the etherta – hacking, or discovering Of course, wealth management customers are talking about encrypted money, and are more interested in researching holding encrypted money.n
nnHacker invasion of the ether is the so far experienced digital currency theft in the event of the most serious one, about 150,000 units of money stolen, equivalent to about 30 million US dollars. These currencies have been stolen from the world’s three largest wallet, and this event has weakened the confidence of those who wish to apply the technology further in finance and other fields.n
nJaffrey sums up what we can expect from the block chain technology in the short term, as well as the future of this technology, he said:n
nn”I think all the discussions around the block chain are about the problem of time, so what we call is everywhere, ‘that it goes deep into every corner, and everyone will not think about it again Technology ‘, which may take ten years to achieve. “n
nnn”Nasdaq is a living example, it is there, so you will end up with the need to achieve the number of third parties to participate in the game, so there is no one that this will be a short term can end the game. , The number of cases that need to be used for specific use cases, and the need for network effects, so the size of the deployment is very large. “n