[2015-06-13] UBS Bank Is Experimenting with ‘Smart-Bonds’ Using the BTC Blockch.

notthematrix

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Quote from: Denker on September 14, 2015, 03:57:25 PM

Quote from: Carlton Banks on September 14, 2015, 02:15:25 PM

Quote from: ssmc2 on September 14, 2015, 11:36:15 AM

http://www.ibtimes.co.uk/ubs-reveals-its-interest-sidechains-well-ethereum-1519706

"We are not looking to create a UBS blockchain - we want to use open standards and we don't want to a UBS virtual currency," he reiterated.

"This is really to enable blockchain transactions, whatever the blockchain is - could be Ethereum, could be Bitcoin - we haven't finalised the design, we have just come up with the deployment if you will."

Big news.

First commercial bank to make a statement like that without equivocation. "Major Swiss bank seeks to work with open standards cryptocurrencies" is the real headline. Let's hope we can take this at face value, but still: Big news.

I will clap my hands when it really will happen.Until then I stay cautious and restrained.

Well there is a big difference between bad people and bad system....
A bad system is way worse because replacing the people wont help.
but if there is a way out it will likely not be blocked by those victim of that bad system...
please read this book for more info http://www.amazon.com/Swimming-Sharks-Journey-World-Bankers/dp/1783350644

Denker

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Quote from: Carlton Banks on September 14, 2015, 02:15:25 PM

Quote from: ssmc2 on September 14, 2015, 11:36:15 AM

http://www.ibtimes.co.uk/ubs-reveals-its-interest-sidechains-well-ethereum-1519706

"We are not looking to create a UBS blockchain - we want to use open standards and we don't want to a UBS virtual currency," he reiterated.

"This is really to enable blockchain transactions, whatever the blockchain is - could be Ethereum, could be Bitcoin - we haven't finalised the design, we have just come up with the deployment if you will."

Big news.

First commercial bank to make a statement like that without equivocation. "Major Swiss bank seeks to work with open standards cryptocurrencies" is the real headline. Let's hope we can take this at face value, but still: Big news.

I will clap my hands when it really will happen.Until then I stay cautious and restrained.

LiteCoinGuy

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so i will not be able to convert my Citicoin to UBS Coin? So sad Cry

ssmc2

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Quote from: Carlton Banks on September 14, 2015, 02:15:25 PM

Quote from: ssmc2 on September 14, 2015, 11:36:15 AM

http://www.ibtimes.co.uk/ubs-reveals-its-interest-sidechains-well-ethereum-1519706

"We are not looking to create a UBS blockchain - we want to use open standards and we don't want to a UBS virtual currency," he reiterated.

"This is really to enable blockchain transactions, whatever the blockchain is - could be Ethereum, could be Bitcoin - we haven't finalised the design, we have just come up with the deployment if you will."

Big news.

First commercial bank to make a statement like that without equivocation. "Major Swiss bank seeks to work with open standards cryptocurrencies" is the real headline. Let's hope we can take this at face value, but still: Big news.

Carlton Banks

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Quote from: ssmc2 on September 14, 2015, 11:36:15 AM

http://www.ibtimes.co.uk/ubs-reveals-its-interest-sidechains-well-ethereum-1519706

"We are not looking to create a UBS blockchain - we want to use open standards and we don't want to a UBS virtual currency," he reiterated.

"This is really to enable blockchain transactions, whatever the blockchain is - could be Ethereum, could be Bitcoin - we haven't finalised the design, we have just come up with the deployment if you will."

Big news.

First commercial bank to make a statement like that without equivocation. "Major Swiss bank seeks to work with open standards cryptocurrencies" is the real headline. Let's hope we can take this at face value, but still: Big news.

ssmc2

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Activity: 2002

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http://www.ibtimes.co.uk/ubs-reveals-its-interest-sidechains-well-ethereum-1519706

"We are not looking to create a UBS blockchain - we want to use open standards and we don't want to a UBS virtual currency," he reiterated.

"This is really to enable blockchain transactions, whatever the blockchain is - could be Ethereum, could be Bitcoin - we haven't finalised the design, we have just come up with the deployment if you will."

notthematrix

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Quote

Yes you cant! .
again then the use of blockchain is not more advanced then what they use now.
sorry its verry simple the security of blockchain is purly because there is no central control over it.
thats it.
and yes they will find out the hard way.
Do you understand the techical stuff beheind it?
Blockchain CAN NOT be disconected from bitcoin.
making your own blockchain is not very secure whitout incentive structure we have now in this blockchain.
so it must be decentralized.

Further more with the imposible hamster on the doorsteps.
http://www.youtube.com/watch?v=Sqwd_u6HkMo
Also a lot of very powerfull people are seeking a way out of this endless grow based pony that can not maintain.
without ending in a complete war over the last resources on this planet.
if you look geopolitics we can all see this model cant go for long , and bitcoin could be a blessing in disguise.
why if no central control no small group can control our mains of exchange.

I know what you mean. And yes I know the technical stuff behind it.At least the basics to know what you're talking about.
But this doesn't mean that they( financial institutions) will agree with that. They will look and search for other solutions which they will still call Blockchain.
I'm sorry english isn't my first language and so far away from being perfect. The point is we both have the same and right opinion about Bitcoin. I just wanted to show with my former post the view of the banks. It seems I wasn't able to make it clear and you missinterpret it.
[/quote]

So if you know this you also know that they wont find a alternative with the same safty,,,,
so knowing this you dont need to worry , let then search ,,, its like compuserve e-mail,
and AOL e-mail , we all know what happend to compuserve and AOL when people discovered real e-mail.....
So it gives people developers for example more tie to make it more robust ,,, and take advantage of the knowege we have!
they the bank will in the end have no other coice! ,,,, the economisc system IS failing,

Denker

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Quote from: notthematrix on September 13, 2015, 04:27:58 PM

Quote from: Denker on September 13, 2015, 08:59:56 AM

Quote from: notthematrix on September 13, 2015, 07:09:27 AM

Quote from: Denker on September 13, 2015, 05:34:52 AM

They explore on the Bitcoin Blockchain and after that will develop their own version of a kind of Blockchain. I can not imagine them to use Bitcoin. Maybe I'm too negative but that's my actual impression.

You Cant!
Why blockchain has a very secure way by the fact it is decentralized! https://blockchain.info/charts/hash-rate
the banks cant mimic that security . so a on blockchain will be the same as what they have now.
they can not mimic the hashrate protection.
that gives the blockchain Its power!

You can't?
Damn yes the way we understand Blockchain as a completely distributed and decentralized ledger.
However maybe they don't wanna look for that much security or find other kind of hybird systems with similiar security.Why do you think they put some much effort, time and money in exploring, research and development of Blockchains? They will look for alternatives believe me. Banks have not any kind of interest in giving away just a tiny bit of contol.

Yes you cant! .
again then the use of blockchain is not more advanced then what they use now.
sorry its verry simple the security of blockchain is purly because there is no central control over it.
thats it.
and yes they will find out the hard way.
Do you understand the techical stuff beheind it?
Blockchain CAN NOT be disconected from bitcoin.
making your own blockchain is not very secure whitout incentive structure we have now in this blockchain.
so it must be decentralized.

Further more with the imposible hamster on the doorsteps.
http://www.youtube.com/watch?v=Sqwd_u6HkMo
Also a lot of very powerfull people are seeking a way out of this endless grow based pony that can not maintain.
without ending in a complete war over the last resources on this planet.
if you look geopolitics we can all see this model cant go for long , and bitcoin could be a blessing in disguise.
why if no central control no small group can control our mains of exchange.

I know what you mean. And yes I know the technical stuff behind it.At least the basics to know what you're talking about.
But this doesn't mean that they( financial institutions) will agree with that. They will look and search for other solutions which they will still call Blockchain.
I'm sorry english isn't my first language and so far away from being perfect. The point is we both have the same and right opinion about Bitcoin. I just wanted to show with my former post the view of the banks. It seems I wasn't able to make it clear and you missinterpret it.

Carlton Banks

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Activity: 3430

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Quote from: notthematrix on September 13, 2015, 04:27:58 PM

Further more with the imposible hamster on the doorsteps.
http://www.youtube.com/watch?v=Sqwd_u6HkMo

LOL actual impossible hamster in link, I joke not

Agreed. Corporate businesses (and corporate-backed bitcoin businesses) never talk about disintermediation ("duh!"). They always talk about some vague "efficiency" gain that blockchain technology could bring. Except that centralised systems are inherently more efficient than decentrlaised ones, and these types of businesses already own and run all the centralised financial services...

notthematrix

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Quote from: Denker on September 13, 2015, 08:59:56 AM

Quote from: notthematrix on September 13, 2015, 07:09:27 AM

Quote from: Denker on September 13, 2015, 05:34:52 AM

They explore on the Bitcoin Blockchain and after that will develop their own version of a kind of Blockchain. I can not imagine them to use Bitcoin. Maybe I'm too negative but that's my actual impression.

You Cant!
Why blockchain has a very secure way by the fact it is decentralized! https://blockchain.info/charts/hash-rate
the banks cant mimic that security . so a on blockchain will be the same as what they have now.
they can not mimic the hashrate protection.
that gives the blockchain Its power!

You can't?
Damn yes the way we understand Blockchain as a completely distributed and decentralized ledger.
However maybe they don't wanna look for that much security or find other kind of hybird systems with similiar security.Why do you think they put some much effort, time and money in exploring, research and development of Blockchains? They will look for alternatives believe me. Banks have not any kind of interest in giving away just a tiny bit of contol.

Yes you cant! .
again then the use of blockchain is not more advanced then what they use now.
sorry its verry simple the security of blockchain is purly because there is no central control over it.
thats it.
and yes they will find out the hard way.
Do you understand the techical stuff beheind it?
Blockchain CAN NOT be disconected from bitcoin.
making your own blockchain is not very secure whitout incentive structure we have now in this blockchain.
so it must be decentralized.

Further more with the imposible hamster on the doorsteps.
http://www.youtube.com/watch?v=Sqwd_u6HkMo
Also a lot of very powerfull people are seeking a way out of this endless grow based pony that can not maintain.
without ending in a complete war over the last resources on this planet.
if you look geopolitics we can all see this model cant go for long , and bitcoin could be a blessing in disguise.
why if no central control no small group can control our mains of exchange.

jdebunt

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Second time the name of UBS gets mentioned in blockchain tech-related news. They are definitely on the right track.

Might actually be the first bank to go public with their project.

Denker

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Quote from: notthematrix on September 13, 2015, 07:09:27 AM

Quote from: Denker on September 13, 2015, 05:34:52 AM

They explore on the Bitcoin Blockchain and after that will develop their own version of a kind of Blockchain. I can not imagine them to use Bitcoin. Maybe I'm too negative but that's my actual impression.

You Cant!
Why blockchain has a very secure way by the fact it is decentralized! https://blockchain.info/charts/hash-rate
the banks cant mimic that security . so a on blockchain will be the same as what they have now.
they can not mimic the hashrate protection.
that gives the blockchain Its power!

You can't?
Damn yes the way we understand Blockchain as a completely distributed and decentralized ledger.
However maybe they don't wanna look for that much security or find other kind of hybird systems with similiar security.Why do you think they put some much effort, time and money in exploring, research and development of Blockchains? They will look for alternatives believe me. Banks have not any kind of interest in giving away just a tiny bit of contol.

notthematrix

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Activity: 980

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Quote from: Denker on September 13, 2015, 05:34:52 AM

They explore on the Bitcoin Blockchain and after that will develop their own version of a kind of Blockchain. I can not imagine them to use Bitcoin. Maybe I'm too negative but that's my actual impression.

You Cant!
Why blockchain has a very secure way by the fact it is decentralized! https://blockchain.info/charts/hash-rate
the banks cant mimic that security . so a on blockchain will be the same as what they have now.
they can not mimic the hashrate protection.
that gives the blockchain Its power!

Denker

legendary

Activity: 1442

Merit: 1016

They explore on the Bitcoin Blockchain and after that will develop their own version of a kind of Blockchain. I can not imagine them to use Bitcoin. Maybe I'm too negative but that's my actual impression.

g10526146

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here you can find more Information about Smart Bonds (also in German/Swiss)

Digit-0

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in the end, you only find the beginning

Quote from: kjlimo on June 15, 2015, 07:55:29 AM

Are they trying to use the existing blockchain or build their own? I assume they are considering both.

Will be interesting to see what they come up with.

good question, because about of that we can preditc their intentions, i mean if they are going to build their own blockchain i think they want to have his own % of this tecnology or if they are going to use the current blockchain then his intentions is to just join us because they really think this cant be stopped, dunno.

kjlimo

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Are they trying to use the existing blockchain or build their own? I assume they are considering both.

Will be interesting to see what they come up with.

Swisswatcher

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secure and reliable

interesting

LiteCoinGuy

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UBS Bank Is Experimenting with ‘Smart-Bonds’ Using the Bitcoin Blockchain

During his talk at IDX Derivatives Expo in London, Alex Batlin, UBS Bank’s chief Information officer for innovation (CIOI) shed some light on what the financial institution has been working on in their innovation lab: smart-bonds on the Bitcoin blockchain.

https://bitcoinmagazine.com/20836/ubs-bank-experimenting-smart-bonds-using-bitcoin-blockchain/

Topic: [2015-06-13] UBS Bank Is Experimenting with ‘Smart-Bonds’ Using the BTC Blockch. (Read 1441 times)