DNotes is now 6 months old; quite old by crypto standard, at least quite senior. Many others have crushed and burnt, before they turned six months old. Some shot up to moon with Coin Market Cap in the millions of dollars, right off the launching pad, only to come crushing down in a matter of a few weeks. Many of them have very strong and active communities with impressive forum page count of over 1,000 pages in a few months verses DNotes current forum page count of 104 pages, as of 8-21-2014.
As can be expected, they all have dedicated fans with high hopes that they have found the coin many merchants and consumers will adopt as the new medium of exchange for goods and services, because of the huge low cost advantage, compared to what credit cards, Paypal, and Western Union would charge for the transaction fees. The truth is that merchant account adoption is not yet happening, with a small exception for Bitcoin. Coinbase has been doing a great job in signing up some major accounts including Overstock.com, Dell Computer, and Dish Network. However, the reported revenue paid in Bitcoin is far less than one percent of total revenue for the period.
In order to gain a better understanding of DNotes’s long-term strategic positioning as compared to its industry peers, it is helpful to understand the Functions of Money. Whether we call it Bitcoin, Altcoin, Virtual Currency, Digital Currency, or Property, it is money. If we can not agree on the descriptive term, we can at least agree on the concept that it has the great cost advantage as a medium of exchange, which happens to be a main function of money.
The hesitant treatment of digital currency as real money, and the lack of understanding of the Functions of Money are the biggest obstacles our industry and governing bodies must overcome before cryptocurrency can become mainstream.
Digital currency will be one of the biggest technology revolutions of mankind. It will be massive in job creation and wealth creation. Early adopter nations, possibly Singapore and UK, could gain significant advantages over reluctant adopter nations like China and Russia.
Ultimately, banks and financial services will all be involved. There is already a strong desire for bankers to learn more about Bitcoin. Marc Hochstein, an American Banker's executive editor pointed out that “A true understanding of Bitcoin (uppercase "B" for the payment system and technology, lowercase for the currency) means looking beyond its potential as an alternative form of money. The network's rails one day could conceivably provide a means of exchange for a whole lot more than a stateless, digital currency — think stock certificates or property titles. For financial services, an industry predicated on trust in third parties, the long-term implications of Bitcoin's underlying decentralized technology are staggering.”
http://www.americanbanker.com/magazine/124_02/why-bitcoin-matters-for-bankers-1065590-1.htmlDNotes is positioned as The Digital Currency of the Future with Lasting Value. It is not a currency for a particular niche that must have a trustless currency with absolute anonymity. DNotes is a trustworthy digital currency for everyone and its mission is to fulfill every one of the functions of money (fiat) and much more.
To be continued: