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Topic: [ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open - page 29. (Read 814545 times)

legendary
Activity: 1932
Merit: 1111
DNotes

Thanks Chase! Nick did a great job. This is a big step, making it easy for any game developer to easily integrate GameCredits.
legendary
Activity: 1638
Merit: 1005
legendary
Activity: 1610
Merit: 1060

According to this article, Chinese fintech companies now have as many clients as the largest banks.


China Fintech Passed Disruption Tipping Point, Report Says

http://www.bloomberg.com/news/articles/2016-03-31/china-fintech-passed-disruption-tipping-point-citigroup-says



Impressive!
legendary
Activity: 1610
Merit: 1060
I read Chapter 15 today, and wrote some notes for Tee Gee. (Moi is a retired chalkie.)

Sigh: okay, I am an interloper here. I trade a range of coins on a range of exchanges. But puddling along on your flank remains a deal of fun because indeed:

‘[Other cryptos] are trapped in the belief that enhancing the technical aspects of their currency is key, rather than improving the ‘usefulness’ of the currency as money itself.’


Thanks for commenting on Chapter 15 - The DNotes Story. TeeGee has worked very hard and did an excellent job. It has now been passed back to me for my editing team to work on. If your comments were made in the last 48 hours, you may email them to me to ensure that nothing important is missed. It is quite a process that we have set up but keeping us extremely busy.

At DNotes, we are operating from a different prospective. There are three most important components to digital currency; the currency, blockchain technology, and global payment network. Yes, "improving the ‘usefulness’ of the currency as money itself" is the most important of all. Mass acceptance of digital currency can not be accomplished without meeting and exceeding the full function of money.

As money, fiat currency is our competitor, not Bitcoin and other altcoins, not at this level. We manage DNotes as a business but do not control it as one. "Chapter 1 - Be Equal to or Better than the Competition" is critical mindset to succeed in any business. We will approach technology with the same mindset when we start focusing on it later this year. It is always important to remember, "where you are right now is of less consequence than where you are going from here."
legendary
Activity: 1638
Merit: 1005

According to this article, Chinese fintech companies now have as many clients as the largest banks.


China Fintech Passed Disruption Tipping Point, Report Says

http://www.bloomberg.com/news/articles/2016-03-31/china-fintech-passed-disruption-tipping-point-citigroup-says

IMZ
legendary
Activity: 1498
Merit: 1000
I read Chapter 15 today, and wrote some notes for Tee Gee. (Moi is a retired chalkie.)

Sigh: okay, I am an interloper here. I trade a range of coins on a range of exchanges. But puddling along on your flank remains a deal of fun because indeed:

‘[Other cryptos] are trapped in the belief that enhancing the technical aspects of their currency is key, rather than improving the ‘usefulness’ of the currency as money itself.’
legendary
Activity: 1610
Merit: 1060

This is an interesting article with a different view on what will be disruptive innovations this decade.

In #3 - "So what’s happening, for better or worse, is a rising wave of solo-preneurs and lifestyle entrepreneurs—exactly what happened for the hundreds of years that capitalism was around before stiff and rigid corporatism (teamed with unions) became the primary but fake “stable” force in our lives."

Could this be the rise of small business again?  Wink


The Most Promising, Disruptive Innovations for the Decade 2011-2020

http://observer.com/2016/03/the-most-promising-disruptive-innovations-for-the-decade-2011-2020/

Great find Chase, I agree with most of point 3. In fact, this is something targeted in the book.

The problem is: while we were all in our cubicles (and I’ve been guilty of this for many years as well), we stopped being creative, stopped having ideas, and just took orders from the gatekeepers: bosses, colleagues, government, education, family.

Very interesting article. A creative thinker.

"People say “ideas are a dime a dozen” or “execution is everything.” These statements are not really true. It’s difficult to come up with 10 new ideas a day (try it), and execution ideas are just a subset of ideas."

What do I think of "ideas are a dime a dozen”? That has always been my position, but if you don't continue to come up with your own ideas, you will end just being a "me too" instead of being a trailblazer. Talking about "execution", I wrote a whole chapter on that.
legendary
Activity: 1932
Merit: 1111
DNotes

This is an interesting article with a different view on what will be disruptive innovations this decade.

In #3 - "So what’s happening, for better or worse, is a rising wave of solo-preneurs and lifestyle entrepreneurs—exactly what happened for the hundreds of years that capitalism was around before stiff and rigid corporatism (teamed with unions) became the primary but fake “stable” force in our lives."

Could this be the rise of small business again?  Wink


The Most Promising, Disruptive Innovations for the Decade 2011-2020

http://observer.com/2016/03/the-most-promising-disruptive-innovations-for-the-decade-2011-2020/

Great find Chase, I agree with most of point 3. In fact, this is something targeted in the book.

The problem is: while we were all in our cubicles (and I’ve been guilty of this for many years as well), we stopped being creative, stopped having ideas, and just took orders from the gatekeepers: bosses, colleagues, government, education, family.
legendary
Activity: 1638
Merit: 1005

This is an interesting article with a different view on what will be disruptive innovations this decade.

In #3 - "So what’s happening, for better or worse, is a rising wave of solo-preneurs and lifestyle entrepreneurs—exactly what happened for the hundreds of years that capitalism was around before stiff and rigid corporatism (teamed with unions) became the primary but fake “stable” force in our lives."

Could this be the rise of small business again?  Wink


The Most Promising, Disruptive Innovations for the Decade 2011-2020

http://observer.com/2016/03/the-most-promising-disruptive-innovations-for-the-decade-2011-2020/
legendary
Activity: 1932
Merit: 1111
DNotes
You U.S. guys may be interested to know that this U.S. presidential election has attracted far more attention here in Oz than any ever. Trump seems to be two conjoined things: his outre self and an expression of the tensions of the U.S.

Mark

I'm sure this U.S. presidential campaign is getting a lot of attention worldwide, it is a diverse and controversial group.
legendary
Activity: 1932
Merit: 1111
DNotes
Digital Currency Weekly Recap 4-3-2016

ConsenSys Announces Microsoft Visual Studio Support for Ethereum’s Solidity
Digital Currency Initiative Bitcoin Developer Fund Receives 900k in Funding
Caribbean Digital Currency Effort Receives $4 Million in Overstock Investment
Coinify to Join with iPayDNA to Expand Asian Merchant Access to Cryptocurrencies
Coinfest is Coming… and It’s Coming Soon!

http://dcebrief.com/digital-currency-weekly-recap-4-3-2016/
IMZ
legendary
Activity: 1498
Merit: 1000
You U.S. guys may be interested to know that this U.S. presidential election has attracted far more attention here in Oz than any ever. Trump seems to be two conjoined things: his outre self and an expression of the tensions of the U.S.

Mark
legendary
Activity: 1610
Merit: 1060
Quote from: indiamikezulu on Today at 12:32:07 AM

The tin-foil-hatters, readers – the libertarians and contrarians – have been correct in their analyses.

Full stop.

And a few months ago, they were saying, ‘Well, after the currency war comes the trade war.’ E voila:

http://www.telegraph.co.uk/business/2016/04/01/defiant-china-slaps-steel-tariffs-on-britain-as-trade-war-looms/


Stabbings in a Greek refugee camp:

http://www.independent.co.uk/news/world/europe/refugee-crisis-stabbed-riots-greek-camps-a6963481.html

Quote From Shepherd Today:

I didn't realize that China has been suffering "trade abuses". I thought it was the way around. Lol! I have to stop watching Donald Trump.


"The Chinese ministry of commerce said in a terse statement that it was slapping anti-dumping tariffs of 14.4pc to 46.3pc on companies from the EU, South Korea, and Japan, claiming that China had suffered “substantial damage” from trade abuses."
legendary
Activity: 1610
Merit: 1060
That is an interesting headline and certainly caught my attention. In my opinion, what the author proposed is far from being a viable solution even if the bank is interested in Bitcoin. A full-reserve banking scenario for a single bank is hard enough to pull off; for the entire banking system is but a dream. It is always easier to write about a concept than to actually make it happened.


Bitcoin could be an interesting option to tackle full-reserve banking in the financial industry. The way this could work is by using Bitcoin as a hedge against banks, and assets could be accounted for on the blockchain. Transparency in full-reserve banking is of the essence, yet it is also one trait most banks are lacking right now.

Achieving this goal will be difficult, though, as banks have no apparent interest in Bitcoin.



The Viability of Bitcoin In A Full-Reserve Banking Scenario

Posted on7:00 pm March 27, 2016 AuthorJP BuntinxCategoriesBitcoin, News, Opinion


Bitcoin could be an interesting option to tackle full-reserve banking in the financial industry. The way this could work is by using Bitcoin as a hedge against banks, and assets could be accounted for on the blockchain. Transparency in full-reserve banking is of the essence, yet it is also one trait most banks are lacking right now.

Bitcoin is often referred to as being many things, ranging from a commodity to currency, and even a solution to solving all of the financial trouble in unbanked and underbanked regions. But very few people believe Bitcoin has the potential to change reserve banking altogether, allowing consumers to be no longer enslaved to the banking ecosystem. While there is serious doubt central bank-issued currency will ever disappear completely, Bitcoin could end up becoming a full-reserve banking solution.

Bitcoin is Financial Freedom
At its core, the Bitcoin protocol is designed to give consumers and business owners complete control over their finances at any given time. Although there is a lot of focus on the financial side of using Bitcoin technology, this point needs to be hammered until people understand Bitcoin is not just the technology, but it is a viable currency as well.

When getting involved in Bitcoin, the sole user is responsible for keeping their funds safe. There are no banks or governments involved, and this thought scares a lot of people. Up until this point, there has been a fair amount of handholding by these established financial players. However, everyone needs to remember banks and governments are the root cause of the financial trouble the entire world is in right now.

That being said, it is unlikely to see government-issued currencies going away anytime soon. Replacing the legacy systemand financial infrastructure all at once will be quite the challenge, even though a good amount of Bitcoin community members would like nothing more than for that to become a reality. However, there is a chance for both fiat currency and Bitcoin to complement each other, in a rather straightforward way.
Reforming Full-Reserve Banking
Reserve banking is an integral part of the fiat currency ecosystem and comes in two different forms. The version one Reddit user was interested in, is full-reserve banking. The way this principle works is by forcing banks to keep a portion of each depositor’s funds in cash, which can be withdrawn on demand. Some people may have noticed that depending on the amount of money they want to withdraw from an account, there is a waiting period involved.

Moreover, the funds deposited in these on-demand accounts would not be loaned by the bank to anyone else, as doing otherwise would be a violation of the legal requirements. It comes as no surprise to find out no country in the world requires full-reserve banking at this stage, despite monetary reforms advocating this change since back in 1935.

Bitcoin could be an interesting option to tackle full-reserve banking in the financial industry. The way this could work is by using Bitcoin as a hedge against banks, and assets could be accounted for on the blockchain. Transparency in full-reserve banking is of the essence, yet it is also one trait most banks are lacking right now.

Achieving this goal will be difficult, though, as banks have no apparent interest in Bitcoin. While they are exploring the boundaries of issuing their digital currencies in the future, they will not be suitable candidates for full-reserve banking. Bitcoin has many advantages, but it will take quite some time – if ever – until banks embrace this concept as part of the financial ecosystem.

Source:  http://www.newsbtc.com/2016/03/27/viability-bitcoin-full-reserve-banking-scenario/


The author is putting the cart before the horse like so many others are doing these days. If something like that ever happens, it will be way in the future. Some folks forget Bitcoin is not the fix all, do all, "manna from heaven" invention. Lets keep working on getting people to use it or, even know what it is before we expect it to solve all the world's problems....
 

I agree, RJF "Lets keep working on getting people to use it or, even know what it is before we expect  to solve all the world's problems...." We are working day and night behind the scene to introduce digital currency to those who can benefit from it the most - the small business owners and their employees. We will be back in the news again in a few more weeks. I can't wait to get the book published. That is one of our core foundation blocks and a very important strategic tool. It is almost done. I am seeing a solid winner that could go a long way contributing to the success of the company and DNotes.
legendary
Activity: 1610
Merit: 1060
Admirable bit of research, Dnotes!

'No single article published on CoinDesk in March 2015 had blockchain in the title. The hottest FinTech technology of 2016 wasn't mentioned in a single headline a year ago.'

I recall that no altcoins received any mention on CoinDesk until long long after they should have.

Mark (IndiaMikeZulu), Australia

Altcoins were hardly mentioned by the mainstream media, even when they frequently headlined Bitcoin. These days it's all about blockchain, yet I am hardly seeing any viable business models for small operators. Don't get me wrong, there are huge opportunities for the likes the "Amazon" of the internet, but most will be spinning their wheels and fail.
legendary
Activity: 1610
Merit: 1060
The following article sheds some light on why the mainstream media has been mentioning Bitcoin far less frequently but almost exclusively on blockchain these days. 

At least for the time being, “For currency and as a financial rail, bitcoin is the only game in town," said Barry Silbert, founder and CEO of Digital Currency Group.”

And … “The Ethereum Foundation emphasizes on its website that ether is not meant to be competition to bitcoin, nor is it "intended to be used as or considered a currency, asset, share or anything else,"

If both statements are true, then the banks have nothing to fear. They can use blockchain technology to cut out the middle, cut employee counts, and continue with high banks fees on credit card charges and high interest credit card charges.

It will take a while but we would like to prove them wrong. Our core mission is to build DNotes as the trusted global digital currency to supplement fiat currency worldwide. I have no doubt that we will prevail to make DNotes to meet the full functions of money one day and subsequently become superior, in function, to fiat currency.


Wall Street and tech start to move past bitcoin

Everett Rosenfeld | @Ev_Rosenfeld
Friday, 1 Apr 2016 | 1:38 PM ET

Bitcoin, the revolutionary technological innovation, is becoming old hat.

Even while investors and regulators are paying much more attention (and more money) to the technological architecture underpinning the cryptocurrency, a funny thing is happening: Bitcoin, the very reason for that architecture, is often going completely unmentioned.

That's not to say that bitcoin is becoming less popular as a means of exchange or a store of value — it's price in U.S. dollars is hovering near a one-year high — but people are increasingly showing much more interest in other potential applications of secure distributed ledgers (also called blockchains), which have nothing to do with money.

It's that innovation — the blockchain — that allows for the bitcoin network's global functioning. It securely records information publicly, and concurrently hosts those records on separate computers. And while many have argued that a blockchain is fundamentally insecure without bitcoin's diverse network participants incentivized by monetary reward, not everyone agrees.

"For currency and as a financial rail, bitcoin is the only game in town," said Barry Silbert, founder and CEO of Digital Currency Group, which oversees 68 companies in the virtual currency and associated technologies space. "But as a ledger, I think that most of the efforts underway by the banks are using permissioned or federated blockchain solutions."

Read More:  Source: http://www.cnbc.com/2016/04/01/wall-street-and-tech-start-to-move-past-bitcoin.html
IMZ
legendary
Activity: 1498
Merit: 1000
Admirable bit of research, Dnotes!

'No single article published on CoinDesk in March 2015 had blockchain in the title. The hottest FinTech technology of 2016 wasn't mentioned in a single headline a year ago.'

I recall that no altcoins received any mention on CoinDesk until long long after they should have.

Mark (IndiaMikeZulu), Australia
sr. member
Activity: 420
Merit: 250
AKA RJF - Since '14 - On line since '84
That is an interesting headline and certainly caught my attention. In my opinion, what the author proposed is far from being a viable solution even if the bank is interested in Bitcoin. A full-reserve banking scenario for a single bank is hard enough to pull off; for the entire banking system is but a dream. It is always easier to write about a concept than to actually make it happened.


Bitcoin could be an interesting option to tackle full-reserve banking in the financial industry. The way this could work is by using Bitcoin as a hedge against banks, and assets could be accounted for on the blockchain. Transparency in full-reserve banking is of the essence, yet it is also one trait most banks are lacking right now.

Achieving this goal will be difficult, though, as banks have no apparent interest in Bitcoin.



The Viability of Bitcoin In A Full-Reserve Banking Scenario

Posted on7:00 pm March 27, 2016 AuthorJP BuntinxCategoriesBitcoin, News, Opinion


Bitcoin could be an interesting option to tackle full-reserve banking in the financial industry. The way this could work is by using Bitcoin as a hedge against banks, and assets could be accounted for on the blockchain. Transparency in full-reserve banking is of the essence, yet it is also one trait most banks are lacking right now.

Bitcoin is often referred to as being many things, ranging from a commodity to currency, and even a solution to solving all of the financial trouble in unbanked and underbanked regions. But very few people believe Bitcoin has the potential to change reserve banking altogether, allowing consumers to be no longer enslaved to the banking ecosystem. While there is serious doubt central bank-issued currency will ever disappear completely, Bitcoin could end up becoming a full-reserve banking solution.

Bitcoin is Financial Freedom
At its core, the Bitcoin protocol is designed to give consumers and business owners complete control over their finances at any given time. Although there is a lot of focus on the financial side of using Bitcoin technology, this point needs to be hammered until people understand Bitcoin is not just the technology, but it is a viable currency as well.

When getting involved in Bitcoin, the sole user is responsible for keeping their funds safe. There are no banks or governments involved, and this thought scares a lot of people. Up until this point, there has been a fair amount of handholding by these established financial players. However, everyone needs to remember banks and governments are the root cause of the financial trouble the entire world is in right now.

That being said, it is unlikely to see government-issued currencies going away anytime soon. Replacing the legacy systemand financial infrastructure all at once will be quite the challenge, even though a good amount of Bitcoin community members would like nothing more than for that to become a reality. However, there is a chance for both fiat currency and Bitcoin to complement each other, in a rather straightforward way.
Reforming Full-Reserve Banking
Reserve banking is an integral part of the fiat currency ecosystem and comes in two different forms. The version one Reddit user was interested in, is full-reserve banking. The way this principle works is by forcing banks to keep a portion of each depositor’s funds in cash, which can be withdrawn on demand. Some people may have noticed that depending on the amount of money they want to withdraw from an account, there is a waiting period involved.

Moreover, the funds deposited in these on-demand accounts would not be loaned by the bank to anyone else, as doing otherwise would be a violation of the legal requirements. It comes as no surprise to find out no country in the world requires full-reserve banking at this stage, despite monetary reforms advocating this change since back in 1935.

Bitcoin could be an interesting option to tackle full-reserve banking in the financial industry. The way this could work is by using Bitcoin as a hedge against banks, and assets could be accounted for on the blockchain. Transparency in full-reserve banking is of the essence, yet it is also one trait most banks are lacking right now.

Achieving this goal will be difficult, though, as banks have no apparent interest in Bitcoin. While they are exploring the boundaries of issuing their digital currencies in the future, they will not be suitable candidates for full-reserve banking. Bitcoin has many advantages, but it will take quite some time – if ever – until banks embrace this concept as part of the financial ecosystem.

Source:  http://www.newsbtc.com/2016/03/27/viability-bitcoin-full-reserve-banking-scenario/


The author is putting the cart before the horse like so many others are doing these days. If something like that ever happens, it will be way in the future. Some folks forget Bitcoin is not the fix all, do all, "manna from heaven" invention. Lets keep working on getting people to use it or, even know what it is before we expect it to solve all the world's problems....
 


You are right on RJF, there is a lot of work left to do to make digital currency mainstream.

Perhaps we should work on getting spell checkers to recognize "bitcoin" before we declare it's ready for the world banking system...  Grin

legendary
Activity: 1932
Merit: 1111
DNotes
That is an interesting headline and certainly caught my attention. In my opinion, what the author proposed is far from being a viable solution even if the bank is interested in Bitcoin. A full-reserve banking scenario for a single bank is hard enough to pull off; for the entire banking system is but a dream. It is always easier to write about a concept than to actually make it happened.


Bitcoin could be an interesting option to tackle full-reserve banking in the financial industry. The way this could work is by using Bitcoin as a hedge against banks, and assets could be accounted for on the blockchain. Transparency in full-reserve banking is of the essence, yet it is also one trait most banks are lacking right now.

Achieving this goal will be difficult, though, as banks have no apparent interest in Bitcoin.



The Viability of Bitcoin In A Full-Reserve Banking Scenario

Posted on7:00 pm March 27, 2016 AuthorJP BuntinxCategoriesBitcoin, News, Opinion


Bitcoin could be an interesting option to tackle full-reserve banking in the financial industry. The way this could work is by using Bitcoin as a hedge against banks, and assets could be accounted for on the blockchain. Transparency in full-reserve banking is of the essence, yet it is also one trait most banks are lacking right now.

Bitcoin is often referred to as being many things, ranging from a commodity to currency, and even a solution to solving all of the financial trouble in unbanked and underbanked regions. But very few people believe Bitcoin has the potential to change reserve banking altogether, allowing consumers to be no longer enslaved to the banking ecosystem. While there is serious doubt central bank-issued currency will ever disappear completely, Bitcoin could end up becoming a full-reserve banking solution.

Bitcoin is Financial Freedom
At its core, the Bitcoin protocol is designed to give consumers and business owners complete control over their finances at any given time. Although there is a lot of focus on the financial side of using Bitcoin technology, this point needs to be hammered until people understand Bitcoin is not just the technology, but it is a viable currency as well.

When getting involved in Bitcoin, the sole user is responsible for keeping their funds safe. There are no banks or governments involved, and this thought scares a lot of people. Up until this point, there has been a fair amount of handholding by these established financial players. However, everyone needs to remember banks and governments are the root cause of the financial trouble the entire world is in right now.

That being said, it is unlikely to see government-issued currencies going away anytime soon. Replacing the legacy systemand financial infrastructure all at once will be quite the challenge, even though a good amount of Bitcoin community members would like nothing more than for that to become a reality. However, there is a chance for both fiat currency and Bitcoin to complement each other, in a rather straightforward way.
Reforming Full-Reserve Banking
Reserve banking is an integral part of the fiat currency ecosystem and comes in two different forms. The version one Reddit user was interested in, is full-reserve banking. The way this principle works is by forcing banks to keep a portion of each depositor’s funds in cash, which can be withdrawn on demand. Some people may have noticed that depending on the amount of money they want to withdraw from an account, there is a waiting period involved.

Moreover, the funds deposited in these on-demand accounts would not be loaned by the bank to anyone else, as doing otherwise would be a violation of the legal requirements. It comes as no surprise to find out no country in the world requires full-reserve banking at this stage, despite monetary reforms advocating this change since back in 1935.

Bitcoin could be an interesting option to tackle full-reserve banking in the financial industry. The way this could work is by using Bitcoin as a hedge against banks, and assets could be accounted for on the blockchain. Transparency in full-reserve banking is of the essence, yet it is also one trait most banks are lacking right now.

Achieving this goal will be difficult, though, as banks have no apparent interest in Bitcoin. While they are exploring the boundaries of issuing their digital currencies in the future, they will not be suitable candidates for full-reserve banking. Bitcoin has many advantages, but it will take quite some time – if ever – until banks embrace this concept as part of the financial ecosystem.

Source:  http://www.newsbtc.com/2016/03/27/viability-bitcoin-full-reserve-banking-scenario/


The author is putting the cart before the horse like so many others are doing these days. If something like that ever happens, it will be way in the future. Some folks forget Bitcoin is not the fix all, do all, "manna from heaven" invention. Lets keep working on getting people to use it or, even know what it is before we expect it to solve all the world's problems....
 

You are right on RJF, there is a lot of work left to do to make digital currency mainstream.
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