Blockchain consortia are becoming all the rage – the latest effort advances under the open source auspices of the Linux Foundation.
The blockchain is a cryptographically secured register. A long, long time ago we used to hook a line printer to important systems and they’d print a subset of their logging to it. An intruder taking over a box could erase the contents of /var/log, but that printout was immutable. The blockchain provides something similar, but it’s globally distributed, so *everyone* with access can write on it in an immutable fashion.
EXTRACT: Today an Argentinian freelancer who uses their banking system has to wait five days for an international transfer, lose 30% of his income to predatory fee structures, and run the very real risk that one of the parties involved in the clearing will simply misplace their money entirely. A Bitcoin based competitor can do this transaction at 1% of the cost in 0.1% of the time, make a profit while doing so, and there is nothing the government can do to stop it.
You asked me to comment on “The Logic Problems That Will Eventually Pop the Bitcoin Bubble,” as published by Vanity Fair on 31 March 2013.
My critique is that it is VERY old news. 2013. I was just getting into Bitcoins by then, and loosing my ability to walk. Can I counter the piece? No, not really. The writer has the same problem everyone else has. They think Bitcoin is supposed to ACT like money. Then they go on a tirade of comparisons to other Monetary events. Bitcoin is not a Monetary event. No one, I repeat, NO ONE, save for space aliens, has seen anything like this on this planet as far as we know. EVER! Bitcoin is just the first Killer App out of the Blockchain.
PayServices Inc. has the most advanced Impact Investing system for projects providing local communities, municipalities, tribes and businesses with complementary and now also with crypto, blockchain based currencies and the tools they need to use and manage it.
Citizens’ initiative in Switzerland to take money creation away from commercial banks. Next step is debate and then a referendum of all Swiss citizens.
With the full power of new money creation exclusively in the hands of the Swiss National Bank, the commercial banks would no longer have the power to create money through lending. The Swiss National Bank’s primary role becomes the management of the money supply relative to the productive economy, while the decision concerning how new money is introduced debt free into the economy would reside with the government”, reads the official website of the initiative.
A local currency for Barcelona, or rather the region of Catalunia in Spain … it is one of many experiments to try and learn how a currency should be properly configured, and what it can do to isolate the real local economy from the instability of the financial markets that have co-opted the official currencies for their gambling…
ALMERIA, Spain — As humanity increasingly loses faith in debt-backed fiat currencies run by opaque central banks and corrupt governments, the city of Barcelona, Spain, is the latest to announce plans to try something new — a local currency.
Proposed: that communities create Capital Asset Partnership Trusts (CAPT) in the context of a larger Golden Rule Network
The potential monetized value of equity in real property is tremendous. In the U.S. alone the equity in home ownership is $8.2 trillion. As well, there is the other huge pool of capital with the equity present in commercial properties that can be awakened with the same strategy. Unleashing even a fraction of that capital will have an unequaled and immediate benefit that will be felt all around the world. Just imagine the impact of a well directed trillion dollars of reserve capital multiplied through the fractional reserve system can have on our current and pressing environmental needs! And we can start today!
DOC (12 Pages): The Golden Rule Network
Full text below the fold.
A good description of Bitcoin in terms people can understand… In my view, Bitcoin is an immensely successful prototype, but not the final form this kind of currency will eventually take.
Email for money.
Central banks aim to institute “governmental approval” for all purchases and sales
Economist Martin Armstrong claims there is a “secret meeting to end cash” set to take place in London before the end of the month involving representatives from the ECB and the Federal Reserve. Armstrong, who is known for successfully predicting the 1987 Black Monday crash as well as the 1998 Russian financial collapse, expressed his shock that no news outlet has reported on this upcoming conference.
There’s a world wide movement starting, to cover everyone’s basic expenses. Imagine what this will do to free us up to actually participate in the political process, and to learn and teach … or to do that big project we always had to delay because we just couldn’t find the time for it…
This once utopian vision is gaining ground, fast. A global network of academics, activists, non-governmental organisations (NGOs) and private groups are working towards the implementation of Basic Income Guarantees (BIGs) in some of the world’s most impoverished regions. It is a small idea, both in terms of its simplicity and in terms of the sums of money involved. But it is having a big impact. In addition to reducing poverty and inequality, assessment results from pilot projects overwhelmingly indicate that providing a monthly income of only $10 to every person in some of the poorest communities on earth is good for business.
Taking back democracy starts with money and banking.
The stages of the capture of democracy by big money are traced in a paper called “The Collapse of Democratic Nation States” by theologian and environmentalist Dr. John Cobb. Going back several centuries, he points to the rise of private banking, which usurped the power to create money from governments…
Peer-to-peer loans imperil banks, and cryptocurrencies may finish the job
Digital currencies circumvent the fees and roadblocks to access that come with traditional financial services. The possibilities, especially in the underdeveloped world, are enormous. As much as $9.6 trillion in assets locked out of the global economy could be freed up, according to the International Monetary Fund.
Background on the FLOK Project
The National Plan of Ecuador recognizes and stresses that the global transformation towards knowledge-based societies and economies requires a new form for the creation and distribution of value in society. The National Plan’s central concept is the achievement of ‘Buen Vivir’ (Sumak Kawsay) or ‘good living’; but good living is impossible without the availability of ‘good knowledge’, i.e. ‘Buen Conocer’ (‘Sumak Yachay’). The third national plan for 2013-2017 explicitly calls for a open-commons based knowledge society.
President Correa himself exhorted young people to achieve and fight for this open knowledge society.
The FLOK Society is a joint research effort by the Coordinating Ministry of Knowledge and Human Talent, the SENESCYT (Secretaría Nacional de Educación Superior, Ciencia, Tecnología e Innovación) and the IAEN (Instituto de Altos Estudios del Estado) to develop transition and policy proposals to achieve such an open commons-based knowledge society.
FLOK refers to:
While many are still being turned on to the perks of Bitcoin as a speculative asset, platform, and currency, there are other players in the game. Here is a brief look at how these cryptocurrencies stack up in terms of features. Also, if you’re interested in the rest of the top 10, be sure to check out Quarkcoin vs. Megacoin vs. Protoshares vs. Worldcoin vs. Feathercoin.