Rob Chamberlain – Lifeboat News: The Blog

Will Fintech Upstarts Do To Banks What Uber Has Done To Taxis — Or Will Banks Win?

Wed, 21 Oct 2015 18:37:23 +0000

Quoted: “Masters went on to say that, because financial services involve Americans’ livelihoods (and not just, say, their taxi ride to Brooklyn), regulations ruling the space are many multitudes more complex than they are in other industries — and the 100-plus year-old banks have a leg up in dealing with these rules.

“Anyone who imagines that as a result of the advent of new technology we will see a world where incumbent financial institutions who provide vital, heavily-regulated intermediated services, custodial services, safe-keeping services will be decimated and completely removed from the picture overnight is just naive and wrong,” she said, pointing out that customers of legacy banks can pay bills and deposit checks through their iPhones — so it’s not as if there’s been no innovation in traditional financial services.”

Read the article here > http://www.forbes.com/sites/maggiemcgrath/2015/10/20/will-fi…ately-win/

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Blockchain for IoT? Yes!

Tue, 18 Aug 2015 17:30:03 +0000

Quoted: “Sometimes decentralization makes sense.

Filament is a startup that is taking two of the most overhyped ideas in the tech community—the block chain and the Internet of things—and applying them to the most boring problems the world has ever seen. Gathering data from farms, mines, oil platforms and other remote or highly secure places.

The combination could prove to be a powerful one because monitoring remote assets like oil wells or mining equipment is expensive whether you are using people driving around to manually check gear or trying to use sensitive electronic equipment and a pricey a satellite internet connection.

Instead Filament has built a rugged sensor package that it calls a Tap, and technology network that is the real secret sauce of the operation that allows its sensors to conduct business even when they aren’t actually connected to the internet. The company has attracted an array of investors who have put $5 million into the company, a graduate of the Techstars program. Bullpen Capital led the round with Verizon Ventures, Crosslink Capital, Samsung Ventures, Digital Currency Group, Haystack, Working Lab Capital, Techstars and others participating.

To build its technology, Filament is using a series of protocols that include the blockchain transaction database behind Bitcoin; BitTorrent, the popular peer-to-peer file sharing software; Jose, a contract management protocol that is also used in the OAuth authentication service that lets people use their Facebook ID to log in and manage permissions to other sites around the web;TMesh, a long-range mesh networking technology andTelehash for private messaging.”

“This cluster of technologies is what enables the Taps to perform some pretty compelling stunts, such as send small amounts of data up to 9 miles between Taps and keep a contract inside a sensor for a year or so even if that sensor isn’t connected to the Internet. In practical terms, that might mean that the sensor in a field gathering soil data might share that data with other sensors in nearby fields belonging to other farmers based on permissions the soil sensor has to share that data. Or it could be something a bit more complicated like a robotic seed tilling machine sensing that it was low on seed and ordering up another bag from inventory based on a “contract” it has with the dispensing system inside a shed on the property.

The potential use cases are hugely varied, and the idea of using a decentralized infrastructure is fairly novel. Both IBM and Samsung have tested out using a variation of the blockchain technology for storing data in decentralized networks for connected devices. The idea is that sending all of that data to the cloud and storing it for a decade or so doesn’t always make economic sense, so why not let the transactions and accounting for them happen on the devices themselves?

That’s where the blockchain and these other protocols come in. The blockchain is a great way to store information about a transaction in a distributed manner, and because its built into the devices there’s no infrastructure to support for years on end. When combined with mesh radio technologies such as TMesh it also becomes a good way to build out a network of devices that can communicate with each other even when they don’t have connectivity.”

Read the Article, and watch the Video, here > http://fortune.com/2015/08/18/filament-blockchain-iot/

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So — what is Ethereum; and, how does it relate to Law?

Sat, 01 Aug 2015 20:23:14 +0000

Quoted: “Traditional law is a form of agreement. It is an agreement among people and their leaders as to how people should behave. There are also legal contracts between individuals. These contracts are a form of private law that applies to the participants. Both types of agreement are enforced by a government’s legal system.”

“Ethereum is both a digital currency and a programming language. But it is the combination of these ingredients that make it special. Since most agreements involve the exchange of economic value, or have economic consequences, we can implement whole categories of public and private law using Ethereum. An agreement involving transfer of value can be precisely defined and automatically enforced with the same script.”

“When viewed from the future, today’s current legal system seems downright primitive. We have law libraries — buildings filled with words that nobody reads and whose meaning is unclear, even to courts who enforce them arbitrarily. Our private contracts amount to vague personal promises and a mere hope they might be honored.

For the first time, Ethereum offers an alternative. A new kind of law.”

Read the article here > http://etherscripter.com/what_is_ethereum.html

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IBM believes blockchain is an “elegant solution” for Internet of Things

Sat, 25 Jul 2015 18:24:35 +0000

Quoted: “IBM’s first report shows that “a low-cost, private-by-design ‘democracy of devices’ will emerge” in order to “enable new digital economies and create new value, while offering consumers and enterprises fundamentally better products and user experiences.” “According to the company, the structure we are using at the moment already needs a reboot and a massive update. IBM believes that the current Internet of Things won’t scale to a network that can handle hundreds of billions of devices. The operative word is ‘change’ and this is where the blockchain will come in handy.”

Read the article here > https://99bitcoins.com/ibm-believes-blockchain-elegant-solut…of-things/

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Injustice, Ethereum and the information renaissance…

Wed, 29 Apr 2015 19:24:08 +0000

Quoted: “I recall reading somewhere that “Ethereum is to Bitcoin as an iPhone is to a calculator”, which is a pretty good analogy. Bitcoin proved to us that it was possible to keep a tamper-proof system synchronised across the globe. There really is no reason the same system can’t be applied to other problems in the same way we apply normal computers to them.

Ethereum is a single computer spread out over the internet, processing the information we all feed it together. I guess you could call it a ‘shared consciousness’ if you wanted to.

In this computer, information cannot be suppressed. In this computer, ideas and trust rule. Work and reputation are visible and independently verifiable. Anyone can contribute and everyone is automatically safe. Collaboration will overcome privatisation as people work together to build an open network of ideas contributing to the betterment of us all. They are calling it internet 3.0. And though web 2.0 was a thing in some ways, I think we’ll look back at everything up until this point as the first internet. The internet we built by adapting old communication lines into new ways of communicating. The internet we built when we were still used to centralising responsibility for things.”

Read the article here > http://pospi.spadgos.com/2014/11/30/injustice-ethereum-and-t…naissance/

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Can Ethereum help eliminate corruption and bureaucracy in the developing world? Could Ethereum One Day Transform Law, Finance, and Civil Society?

Sat, 21 Mar 2015 04:25:54 +0000

Quoted: “Ethereum’s developers believe their project will lead to the proliferation of programs they call “smart contracts,” in which the terms of an agreement are written in code and enforced by software. These smart contracts could carry out the instructions of a complex algorithm based on data feed—such as a stock ticker. They could facilitate practically any financial transaction, such as holding money in escrow or dispersing micropayments among autonomous machines. They could be used to create a peer-to-peer gambling network, a peer-to-peer stock trading platform, a peer-to-peer social network, a prenuptial agreement, a will, a standard agreement to split a dinner check, or a public registry for keeping track of who owns what land in a city.

Gupta predicts that these smart contracts will be so cheap and versatile that they’ll do “a lot of things that today we do informally,” and take on a lot of the “donkey work of running a society.””

Read the article here > http://reason.com/blog/2015/03/19/here-comes-ethereum-an-information-techn

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Bitcoin Alternative DNotes Focuses On Banking Solutions And Stability While Venture Capital Investment Continues At Record Breaking Pace

Mon, 16 Mar 2015 19:19:27 +0000

Quoted: “DNotes can best be characterized, as a second generation Bitcoin alternative digital currency. It objectively studied Bitcoin’s strengths and weaknesses as well as threats and opportunities. DNotes was created on February 18, 2014 with an objective to meet the full functions of fiat currency as a unit of account, store of value and medium of exchange within three years. It decided to take a very different path since day one in building a trustworthy stable digital currency with reliable long term appreciation.

Central to DNotes long term strategic plan is the creation of highly scalable building blocks, as the foundation of its own ecosystem. Those strategic building blocks include CryptoMoms; a currency neutral site dedicated to encourage women participation, DNotesVault; a free secure storage for DNotes’ stakeholders with 100% deposit guarantee with verifiable funds, and CRISPs; a family of Cryptocurrency Investment Savings Plans for everyone worldwide. The core mission of CRISP is to make the savings opportunity available to everyone; from the unborn to the most senior; from the unbanked to the super rich. The opportunity for anyone to participate irrespective of financial standing, coupled with combined charity efforts will bring about much needed financial freedom for millions worldwide.”

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Blockchain meets Artificial Intelligence

Sat, 14 Mar 2015 19:28:32 +0000

Quoted: “The decentralized Sapience AIFX project has developed a distributed artificial intelligence system running on a cryptocurrency network. In addition, the project has implemented the first distributed database platform running entirely over the bitcoin peer-to-peer protocol, built on top of a distributed hash table with redundancy, resiliency, and multi-dimensional trie-based indexing. These technologies are the first core pieces in the Sapience AIFX platform strategy to be the market leader in the consumerization of the blockchain.

The project has implemented the first in-wallet interactive Lua shell, bringing developers unprecedented capabilities to build solutions leveraging the blockchain, multi-layer perceptron networks, and distributed data storage. The possibilities span from algorithmic trading tools to bioinformatics and data mining, and the traditional applications of deep learning.”

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Could Abra be Bitcoin’s “Killer App”?

Sun, 08 Mar 2015 09:55:17 +0000

Quoted: “At the event, CEO Bill Barhydt said: “Our mission with Abra is to turn every smartphone into a teller that processes withdrawals. This is not just another bitcoin app. The wallet is a full-fledged digital asset management system, and you don’t have to understand it.”

Use of the application is straightforward and relies on a network of people around the world who act as tellers, charging small fees to help people transfer money abroad. A user can deposit funds into his or her account using a debit card or by meeting up with a teller in person and handing them cash. Then those funds can be instantly — the power of Bitcoin — transferred anywhere in the world. The person receiving the money has only to find a teller, show that he or she is the recipient of the funds, and exchange the digital cash (denominated in USD) back for their local currency.”

Read the article here > https://bitcoinmagazine.com/19490/abra-announced-launch-fest…d-bitcoin/

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Singularity? Reality? Humanity? Are there sophisticated Barbarians in Silicon Valley? Linking the Human Brain to the Computer — Exciting, or Frightening?

Sat, 07 Mar 2015 06:39:01 +0000

Quoted: “Once you really solve a problem like direct brain-computer interface … when brains and computers can interact directly, to take just one example, that’s it, that’s the end of history, that’s the end of biology as we know it. Nobody has a clue what will happen once you solve this. If life can basically break out of the organic realm into the vastness of the inorganic realm, you cannot even begin to imagine what the consequences will be, because your imagination at present is organic. So if there is a point of Singularity, as it’s often referred to, by definition, we have no way of even starting to imagine what’s happening beyond that.”

Read the article here > http://www.theamericanconservative.com/dreher/silicon-valley-mordor/

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