Russia to use Ethereum blockchain / technology - page 2.

jamesqy

member

Activity: 60

Merit: 10

Quote from: talkbitcoin on June 07, 2017, 04:55:29 AM

it is the technology they want not ethereum itself and this is not new.
the Russian banks have been working hard on it for a couple of years now.
the one that i remember was from late 2016 called "MasterChain"
link: https://www.cbr.ru/Eng/press/?PrtId=event&id=643&PrintVersion=Y

and it is the same thing as we hear in the news. they explicitly say "bitcoin technology", "ethereum technology" "ripple technology", etc and the fools each time think they actually want to adopt "bitcoin", "ethereum", "ripple", etc.
whereas all these banks want is a centralized blockchain that they control themselves without meddling of anyone from outside.

do you even know what will happen to their banking system and country's economy if they relied on any of these fully and they failed? lets say ethereum forked again? someone exploited it again? Russia will be crippled!

Correct. What the Russian government cares about is the blockchain technology, not ethereum itself.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

it is the technology they want not ethereum itself and this is not new.
the Russian banks have been working hard on it for a couple of years now.
the one that i remember was from late 2016 called "MasterChain"
link: https://www.cbr.ru/Eng/press/?PrtId=event&id=643&PrintVersion=Y

and it is the same thing as we hear in the news. they explicitly say "bitcoin technology", "ethereum technology" "ripple technology", etc and the fools each time think they actually want to adopt "bitcoin", "ethereum", "ripple", etc.
whereas all these banks want is a centralized blockchain that they control themselves without meddling of anyone from outside.

do you even know what will happen to their banking system and country's economy if they relied on any of these fully and they failed? lets say ethereum forked again? someone exploited it again? Russia will be crippled!

mrankin

full member

Activity: 312

Merit: 102

ETH may well be used by many governments as an easy and affordable way to ensure contracts are executed as per the terms. Of course there are probably many more governments that wont want to use it for exactly the same reason. It certainly has some great corporate backing and it's only a matter of time before government agencies come on board as well even if it might take a while

honestis.network

newbie

Activity: 27

Merit: 10

Yes, It is still hard to say if it more WOW or just scary.

mining1

hero member

Activity: 532

Merit: 500

There are many scalability upgrades that will come. Most known ones are state channels / raiden, POS, which can increase the tps by ~10x without sharding, and sharding. But over the time i've read about many more upgrades that by themselves help with scalability. I am not technical, but as i've read metropolis will lay the ground for scalability.

Fun/interesting fact; ethereum can massively scale now, state channels can be programmed in solidity https://medium.com/@matthewdif/ethereum-payment-channel-in-50-lines-of-code-a94fad2704bc

Also, keep in mind that, even if they do release a national currency ERC-20 token as an experiment, even before real scaling gets into action, it still won't be a big problem. There can be safe on-off chain transactions.

That's how kik's kin app platform will work. They have 15mil active users each month (~300mil total) and that requires massive scaling.

bbc.reporter

legendary

Activity: 3122

Merit: 1492

This is very big news for Ethereum. Having a national currency that is backed by the Russian government will surely increase the transaction rate in the platform. But how much transactions per second are there in Ethereum? I am certain that it cannot handle the load.

What is Vitalik's time line in solving the scalability problem?

Coffee2015

full member

Activity: 258

Merit: 100

Quote from: mining1 on June 06, 2017, 12:54:17 PM

Interesting article https://www.bloomberg.com/news/articles/2017-06-06/putin-eyes-bitcoin-rival-to-spur-economic-growth-beyond-oil-gas

Few Quotes:

Russian president met with founder of cryptocurrency Ethereum

Country may use Ethereum to create national virtual currency

So yeah.Please do listen to internet trolls that tell you ethereum is a scam. They definitely know better than everyone else, because they care so much about you, they don't want you to lose money. Or maybe because they want you NOT to make money, since less early adopters means more $ later for each early adopter.

The price is rising very fast.
I didnt expect that fast.
I am wondering about it sustainability since the rising is too fast.

stealth.money

sr. member

Activity: 561

Merit: 255

Going stealthy

Quote from: Scor Pio on June 06, 2017, 05:52:03 PM

Quote from: stealth.money on June 06, 2017, 05:01:10 PM

It's not surprise me a bit, because Ethereum and Waves are creating by the Russian kids, the Russian going to use either Ethereum or Waves.
https://www.youtube.com/watch?v=kqhuWGjJ8_Q
Look like the Western kids haven't come up with anything to hype, yet.

Also know the Chinese hate the Japanese to the core! Such name Satoshi Nakamoto being the creator of Bitcoin is not going to stand well with them, most Chinese will try to get away from Bitcoin as possible, this is the reason the Chinese being pump craps like LiteCoin and Ethereum. The Chinese will never ever making big project using Bitcoin, this also extended for the Korean, we're seeing the Korean pump crap like Ethereum like no tomorrow. It is all in the Far East history book.

russian is won't miss the train on cryptocurrency,,
anyway your analyst about chinese is good,, but as i know,,
last years the biggest volume on bitcoin came from chinese,

Fake volume with no transparency and the reason coinmarketcap didn't count them. When it come to reality, they don't have volume.

Scor Pio

full member

Activity: 393

Merit: 100

Quote from: stealth.money on June 06, 2017, 05:01:10 PM

It's not surprise me a bit, because Ethereum and Waves are creating by the Russian kids, the Russian going to use either Ethereum or Waves.
https://www.youtube.com/watch?v=kqhuWGjJ8_Q
Look like the Western kids haven't come up with anything to hype, yet.

Also know the Chinese hate the Japanese to the core! Such name Satoshi Nakamoto being the creator of Bitcoin is not going to stand well with them, most Chinese will try to get away from Bitcoin as possible, this is the reason the Chinese being pump craps like LiteCoin and Ethereum. The Chinese will never ever making big project using Bitcoin, this also extended for the Korean, we're seeing the Korean pump crap like Ethereum like no tomorrow. It is all in the Far East history book.

russian is won't miss the train on cryptocurrency,,
anyway your analyst about chinese is good,, but as i know,,
last years the biggest volume on bitcoin came from chinese,

stealth.money

sr. member

Activity: 561

Merit: 255

Going stealthy

It's not surprise me a bit, because Ethereum and Waves are creating by the Russian kids, the Russian going to use either Ethereum or Waves.
https://www.youtube.com/watch?v=kqhuWGjJ8_Q
Look like the Western kids haven't come up with anything to hype, yet.

Also know the Chinese hate the Japanese to the core! Such name Satoshi Nakamoto being the creator of Bitcoin is not going to stand well with them, most Chinese will try to get away from Bitcoin as possible, this is the reason the Chinese being pump craps like LiteCoin and Ethereum. The Chinese will never ever making big project using Bitcoin, this also extended for the Korean, we're seeing the Korean pump crap like Ethereum like no tomorrow. It is all in the Far East history book.

aoluain

legendary

Activity: 2436

Merit: 1362

Ha, I just read this on Bloomberg and was wondering why
I had not seen anything about it here on BCT,

has this gone unnoticed?

Good article and is surely good news for ETH and Blockchain in general

"Like other central banks, the Russian one is testing blockchain technology:
Last year, a consortium of large Russian banks it formed for the purpose
processed the first transactions through the Etherium platform.
With Putin's support, which means everything in today's Russia,
the central bank, run by Putin favorite Elvira Nabiullina, can more
aggressively move the country's financial sector to the blockchain."

mining1

hero member

Activity: 532

Merit: 500

Interesting article https://www.bloomberg.com/news/articles/2017-06-06/putin-eyes-bitcoin-rival-to-spur-economic-growth-beyond-oil-gas

Few Quotes:

Russian president met with founder of cryptocurrency Ethereum

Country may use Ethereum to create national virtual currency

So yeah.Please do listen to internet trolls that tell you ethereum is a scam. They definitely know better than everyone else, because they care so much about you, they don't want you to lose money. Or maybe because they want you NOT to make money, since less early adopters means more $ later for each early adopter.

Topic: Russia to use Ethereum blockchain / technology - page 2. (Read 1835 times)