Topic: [ANN] [GDGC] GadgetCoin | IoT | M2M |Smart Contracts on Hardware - page 41. (Read 88551 times)

wow, thanks for acting upon my feature request.

the wallet for for both my seller and buyer clients shouldn't be a problem, they will create the wallet.

Regards,
Albert

if everything is ok, why you need money?

Thanks for sending this feature request. We are not endorsing such multi-layer broker contract, but this is a very interesting use case and we are happy to stress test our smart contract engine using this scenario.

In this theoretical, experimental business relation the constraints are the following
- Both your seller and buyer clients must have a GadgetCoin wallet. You are absolutely correct about the requirement for digital signature, but both your seller and buyer clients must sign the contract. In your description only you, the broker and your buyer client signs the contract. I think to model a correct relation via the smart contract all parties must sign the contract.

- If the contract for a theoretical GadgetCoin sale in which you the broker sells GadgetCoin on behalf of the GadgetCoin Foundation, the recipient of the Bitcoin will be the Foundation that redistributes the commissions to you and your multi layer parties. Is that acceptable in your particular use case?

here you go, here are the parameters 

i want to sell company stock or digital currency to my clients behalf of the owner of the stock or digital currency. as i am a broker both the sellers and buyers are my clients. all this would be done with smart contracts. the owner of the company stock or currency want to receive Bitcoin.

The company that gives me the authority to sell the securities pays me 50% commission for selling the stock or currency. gadgetcoin can pay me 50% and i will sell gadgetcoin 

can it be a multi layer contract? i noticed a discussion in this thread about the multi layer contracts. that's a cool structure, can it be included?

the contract must be digitally signed by me and the buyers

thats' all 





 

Thank you for your question.

TileCoin is a great project, I have no doubt both TileCoin and Bitbay will be very successful coins. I hope these three projects, TileCoin, Bitbay and GadgetCoin will find the common ground for collaboration in the Internet of Things, we will be more than happy to cooperate to bring digital currencies to the hardware field.

As for the comparison, probably our white paper is the best start, we try to describe there what GadgetCoin is.

He could conclude that from the answer, because he is not the sharpest knife in the kitchen.

I had this question myself. None of the software exists, both projects are at the design phase so I started to read the white paper of this coin. It's a 28 pages material and I haven't finished yet    The Tilecoin OP says "Our White Paper - In progress". It's hard to compare two concepts when only once concept is presented, we need to wait with the comparison until Tilecoin publish their white paper.

How did you concluded that proposition from the answer you received?

so you just want money.

Do you know Tilecoin? Can you compare these two great project?

There won't be an ICO for this coin. We certainly want to be financially rewarded for our work, but before selling the coin we will release a fully functional software and Internet of Things platform.

have a ico?

have a market research and I will know what?

have a market research and then you will know

What parameters? do I need to work, i can't get rich without work?  

ok, no problem    i will come back with the specifications. I spoke to a few colleagues and we think decentralized, trust-less smart contracts could revolutionize the broker industry. i actually asked the very same question about broker smart contracts from Ethereum, counterparty and Bitbay, it seems none of them excited about this idea. it's smart that you don't ignore the requests that comes directly from the business world.

Thanks for your thoughtful reply and explaining the decentralized exchange feature. From hardware integrator end user viewpoint that make sense. If you make easier for users to use the platform, then you will have a better chance to grow your user base. However, if the majority of GadgetCoin is dealt for BTC and FIAT within the GadgetCoin wallet, that means you will loss the interest of whales who make their most money on exchanges. To be honest, I am not sure what is better for a coin, having the whales like Bobsurplus on their side or not :-))) but again, from hardware integrator viewpoint to simplify the usage of a system is a good idea.

 

Our focus is most definitely on the internet of things platforms, but whenever we meet with hardware integrators the first question is always "How can we acquire Gadgetcoin?" Surely we cannot avoid Gadgetcoin being listed on exchanges, but following the MtGox and Mintpal fiasco we can see a lot of resistance from new digital currency users when it comes to putting money in exchanges. Looking at it from a convenience standpoint it would also be better for the users to be able to buy Gadgetcoin in the wallet. This is because it would be the same place that the user is creating, monitoring, and configuring smart contracts so it would streamline the acquisition process of Gadgetcoin. Using a practical example, a hardware integrator for a security system would not need to go to the exchange to buy Gadgetcoin if the wallet has this decentralized exchange feature, instead he can buy 10 GDC to operate their 10 hardware modules from the wallet directly to simplify the process.  How does this work? The hardware integrator creates a smart contract that buys 10 GDC with the exchange rate of 0.005 BTC. Every gadget coin user will be able to see that smart contract in their wallet, and if you wish to sell your coin, then you will enter into the deal and sell 10 GDC for 0.05 BTC for the hardware integrator user. Furthermore, so far our biggest problem when dealing with hardware integrators, we have to educate people how to use exchanges to acquire Gadgetcoins, and we would rather cut this step out. If the Gadgetcoin wallet offers a decentralized exchange feature then it lowers the risk for our users by not having to use potentially risky exchanges.

Please read our white paper for more information about the decentralized exchange feature.

So what is it? A broker platform or an IoT platform?

It seems the broker smart contract solves a real world business problem and sure, we will try to give you the broker smart contract function. Could you specify the main parameters for the contract please?

The distribution model hasn't been finalized yet. We're still looking for more feedback from the community.

Thank you for your interest! Your Cryptonit exchange, which is by the way a very nicely done crypto currency exchange, sets an exemplary standard by listing only open source software based currencies. Thanks, and it's really great to see you here!