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Blockchain platform Setl hits one billion daily transactions - 1,000 times faster than Bitcoin's blockchain

Blockchain platform Setl hits one billion daily transactions - 1,000 times faster than Bitcoin's blockchain submitted by BitcoinAllBot to BitcoinAll [link] [comments]

In the news • [] SETL: The Private Network of Blockchains

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Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading

Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading
AX Trading LLC (AX), a technology-enabled registered broker-dealer and Alternative Trading System (ATS) operator, today announced a strategic partnership with Quant Network a pioneering technology company providing financial and regulatory technology as well as interoperability in financial services, payments and capital markets infrastructure. Through this partnership, Quant Network’s technology, Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of interoperable regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets. George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.” It is expected that the first interoperable digital asset offering may commence as soon as January 2020, and that the AX Trading ATS may be ready to enable and list interoperable digital assets and securities in 2020.
Let’s have a closer look at what that means to truly appreciate the significance of the partnership by covering the basics for those not familiar with wall street.

What is an Institutional Investor / Trader?

An institutional investor is an organization that invests on behalf of the organization's members. They consist of hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds, or any other type of money management firm.
Institutional investors account for about three-quarters of the volume on the New York Stock Exchange (which alone handles more than $20 Trillion a year in volume). In the US, Institutional investors own about 80 % of the total market value of the equity (stock) market, which globally is worth more than $73 trillion.
Wall Street refers to the institutional investors I mentioned above whereas Main Street refers collectively to members of the general public who are not accredited investors and the overall economy as a whole.
Whilst the Equity Market is huge, Institutional investors also invest in other securities which are prime to be tokenised such as Real Estate Market (Globally worth $217 trillion), the Debt Market (Globally worth $215 trillion) and the Derivatives Market (Low end estimates at $544 trillion and high-end estimates at $1.2 quadrillion). All of which makes the current market cap for cryptocurrencies look like a drop in the ocean.

Who are AX Trading?

AX Trading is a SEC-registered broker-dealer and Alternative Trading System (ATS) Operator. They are a member of FINRA (Financial Industry Regulatory Authority)and SIPC ( Securities Investor Protection Corporation) regulated authorities. The SEC has some of the most stringent regulations in the world for listing securities and there are fewer than 50 SEC-registered Alternative Trading System Operators in the United States, of which only a handful are currently implementing Digital Assets. Others are awaiting regulatory approval with Coinbase, Circle etc are all looking at getting into this huge market.
AX Trading have investors and sponsored brokers including the likes of Credit Suisse, (a multinational investment Bank and Financial services company worth $27.5 billion). AX currently have over 800 Institutional traders (these are not individuals, but corporations such as hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds etc).
AX Trading have also partnered with Euronext, the largest Stock Exchange in Europe with a market cap of $4.65 trillion as of 2018, in the creation of Euronext Block which utilises AX Trading.

What is an Alternative Trading System?

An Alternative Trading System (ATS) is an SEC-regulated trading venue which serves as an alternative to trading at a public exchange. ATS account for much of the liquidity found in publicly traded issues worldwide. They are known as multilateral trading facilities in Europe, electronic communication networks (ECNs), cross networks, and call networks
AX is the world’s first “Electronic Trading Network” (ETN) where institutional traders can proactively connect and trade with other counterparties in a secure environment. Unlike traditional stock exchanges/ECNs that show orders to everyone and traditional dark pools/crossing systems that show orders — presumably — to no one, AX allows institutional traders to pick and choose WHOM they want to notify and also WHAT information they want to share with them.
Institutional investors may use an ATS to find counterparties for transactions instead of trading large blocks of shares on national stock exchanges. These actions may be designed to conceal trading from public view since ATS transactions do not appear on national exchange order books. The benefit of using an ATS to execute such orders is that it reduces the domino effect that large trades might have on the price of an equity.

How does AX Trading Work?

The AX Trading process begins when one trader sends an “initiated” order to AX. The order can be routed to the AX ATS via one of our broker sponsors such as Credit Suisse. The initiated order triggers a “Call Auction” on AX, a period of time when the order will rest in AX to be matched against other orders from auction responders.
The Initiator of an AX auction decides who they want to invite to participate in the auction, whether they be all 800+ institutional members or targeted to specific ones, as well as how much info they want to disclose about the order. Based on these instructions, the AX ATS then notifies the members inviting them to participate in the trade.
The invited members can then participate in the trade by either placing buy orders of their own or placing sell orders. At the end of the AX auction period, all orders are brought together, and a match is performed.
In the traditional, continuous market with displayed bids and offers, traders are often chasing liquidity. In other words, the price may move away from them the more they buy or sell to what is commonly called “market impact.” On AX, the advantage of their call auction model is it brings liquidity — in the form of participant orders to the buyer rather than them chasing liquidity.

What is a Security Token?

Security Tokens are different than Utility Tokens or Cryptocurrencies. A security token is a digital representation of a traditional security. It may represent shares in a company, interest in a fund, real estate, art collectables, or essentially any asset a party can own. Anthony Pompliano wrote an article explaining tokenised securities in more detail which you can see here
Security Tokens are digital assets subject to federal security regulations. In layman terms, they are the intersection of digital assets (tokens) with traditional financial products — a new technology improving old things. If cryptocurrencies like Bitcoin are considered “programmable money” then you can consider Security Tokens a version of “programmable ownership.” This means that any asset with ownership can and will be tokenized (public & private equities, debt, real estate, etc).
Quant Network community member David W also wrote an excellent piece on the benefits of tokenisation of assets in a lot more detail than what I will briefly cover here and strongly recommend you check it out.
The Tokenisation of assets is therefore inevitable, because it is a better way to record, exchange and monitor asset ownership for all parties involved. The amounts at stake represent many hundreds of trillions of US dollars

What are the benefits of a security token?

  • Lower Fees — having Smart Contracts and compliance programmed into the token itself removes the need for middlemen, reducing costs. Post Trade businesses such as clearing houses would also no longer be required further reducing costs.
  • 24/7 markets — Currently the major US stock markets trade between 9:30am and 3pm during weekdays only. Trading can be done 24/7 and globally whilst remaining compliant.
  • Fractional Ownership — This greatly increases liquidity for previously illiquid assets. Real estate, Artwork, even assets such as Oil Refineries are already in talks about being tokenised through Overledger. If you have an asset such as an oil refinery worth billions of dollars, then naturally this limits the market should you ever want to sell it. However with fractional ownership you could own a tiny percentage of it and receive profits from the oil refinery based upon the percentage you own, which exponentially increases the number ofpotential buyers, increasing liquidity.
  • Rapid Settlement — Currently it takes 3 working days to settle a securities trade, this can be reduced to minutes by having the asset and fiat represented on a blockchain and handled through smart contracts.
  • Automated compliance — Security tokens are programmable, and rules and regulations are hard-coded into the architecture of the token to ensure they always remain compliant. This means that they can be traded globally and still ensure they respect the relevant countries regulations that the participants are located in.
  • The benefits that a blockchain provide such as transparency, security, immutability, high availability. Regulators can also run a node and verify compliance in real time.

Security Token Issuance Platforms

Security token issuance platforms allow issuers to issue Security tokens that represent the security such as Shares in their company etc in return for capital. This is known as a Primary Market. Importantly it’s not just the issuance that they look after, it’s the whole life cycle of a digital security to ensure they remain continuously in compliance as they are traded etc. They also provide reporting to the issuer so they can see who owns the tokens and what dividends to pay out.
Securitize are one of the leading security tokens issuing platforms. They have created the DS Protocol, a blockchain agnostic protocol for security tokens which manages the whole lifecycle of a digital security, ensuring it remains continuously in compliance. They have issued a number of security tokens on the Ethereum network as well as recently working with IBM to tokenise the Corporate Debt Market (worth $82 Trillion). On the back of this they joined Hyperledger, an open source project which includes Enterprise blockchains such as Hyperledger Fabric which IBM is heavily involved with.
They recently also became the first SEC-registered transfer agent, which means Securitize can now act as the official keeper of records about changes of ownership in securities.
There are many companies in this sector which are utilising various blockchains, Other examples include:
  • Harber — R Token protocol for Ethereum
  • Polymath — ST20 protocol for Ethereum
  • Blockstate — a security token issuance platform recently announced plans to migrate a number of ERC-20 tokens from the public Ethereum blockchain to the permissioned blockchain R3 Corda
  • Dusk — Uses the Dusk blockchain
  • Own — Uses the Own blockchain
And many more such as Nefund, Bankex, Capexmove, Swarm, Symbiont, Tokeny etc

Trading Venues

Whilst the issuance platforms above generally also include their own exchange where the token can be traded on, secondary markets such as those offered through traditional stock exchanges and Alternative Trading Systems provide significantly more liquidity.
Traditional Stock Exchanges have been very active in blockchain with some going through proof of concepts, to those like SIX SDX Digital Exchange which is due to launch later this year. They are using various blockchains and cover the full process from Issuance, Trading and Post Trade / Settlement services. I have briefly outlined which blockchain they are using / testing with along with source to read more about it below:
  • Switzerland’s Stock Exchange — SIX Digital Exchange issue, trading, settlement, custody — Corda — Source
  • Largest Stock Exchange in Germany — Deutsche Borse Franfurt Stock Exchange — Corda — Source and Source
  • South Korea’s Stock Exchange — Korea Exchange — Hyperledger Fabric — Source and Source
  • Japan’s Stock Exchange — Tokyo Stock Exchange — Hyperledger Fabric — Source which the consortium has now grown to 44 companies. Tokyo Stock Exchange are also testing JP Morgan’s Quorum for voting on the blockchain — Source
  • London Stock Exchange Group — Hyperledger Fabric — Source . They are also invested in Nivaura which utilises Ethereum — Source
  • Largest Stock Exchange in Europe — Euronext — Permissioned Ethereum via Liquidshare — Source as well as recently investing in Tokeny a blockchain based project based on public version of Ethereum — Source
  • Singapore Stock Exchange — Ethereum — Source

Post Trade — Central Security Depositories

Situated at the end of the post-trading process, CSDs are systemically important intermediaries. They thereby form a critical part of the securities market’s post-trade infrastructure, as they are where changes of securities ownership are ultimately registered.
CSDs play a special role both as a depository, involving the legal safekeeping and maintenance of securities in a ‘central depository’ on behalf of custodians (both in materialised or dematerialised form); as well as for the issuer, involving the issuance of further securities by issuers, and their onboarding onto CSDs’ platforms.
CSDs are also keeping a number of other important functions, including: dividend, interest, and principal processing; corporate actions including proxy voting; payment to transfer agents, and issuers involved in these processes; securities lending and borrowing; and, provide pledging of share and securities.
Blockchain technology will enable real-time settlement finality in the securities world. This could mean the end of a number of players in the post-trade area, such as central counterparty clearing houses (CCPs), custodians and others. Central Security Despositories (CSD) will still play an important role according to reports:
“CSDs could have an important role to play in a blockchain-based settlement system. As ‘custodians of the code, CSDs could exercise oversight of, and take responsibility for, the operation of the relevant blockchain protocol and any associated smart contracts.” Euroclear Report
Another group of 30 central securities depositories (CSDs) in Europe and Asia are researching possible ways to “join hands” in developing a new infrastructure to custody digital assets. The CSDs will attempt to figure out how to apply their experience in guarding stock certificates to security solutions for crypto assets.
“A new world of tokenized assets and blockchain is coming. It will probably disrupt our role as CSDs. The whole group decided we will be focusing on tokenized assets, not just blockchain but on real digital assets.”
You can read more about how blockchain will affect CSD’s here
Examples of CSD’s in blockchain
  • SIX Digital Exchange and Deutsche Borse are utilising Corda as explained in the trading venues section
  • DTCC the largest in the US process 1.7 Quadrillion US Dollars of securities every year and are planning on moving their Trade Information Warehouse to Axoni’s AXCore Blockchain (Based on permissioned version of Ethereum) later this year — Source
  • Canada CDS are using the Quartz blockchain from Indian IT Services Company Tata Consultancy Services — Source
  • Euroclear in collaboration with the European Investment Bank (EIB), Banco Santander, and EY are developing a blockchain solution — Source
  • French CSD’s too soon go live on Setl Blockchain — Source and Source
  • Russia’s National Settlement Depository is launching a blockchain project using D3ledger (based off Hyperledger) — Source

The Importance Of Interoperability

The evolution of DLT and the wide adoption across industries and across different market segments is resulting in many different ledgers networks, but the ultimate promise of DLT can only be realized when all ledger networks can seamlessly interoperate. — from the recent DTCC whitepaper with Accenture
Some challenges and constraints related to the market infrastructure ecosystem remain open and will need to be addressed in the future to sustain the development of DLT platforms for trading and the post-trade process. At this stage, the questions of interoperability and standardization across these DLT (probably permissioned) platforms remain open and we may see a list of platforms offering no scope for interconnection. This will prevent them from fulfilling the key “distribution” criterion of DLT. Another related challenge that may determine whether or not the technology is adopted is the ability to provide Delivery versus Payment (DvP) settlement, in particular in central bank money. Nevertheless, it is worth mentioning that settlement can also be facilitated in commercial bank money. —
It’s clear from the above that interoperability will be crucial in order to unlock the true potential of Distributed Ledger Technology. Issuance platforms will seek to interoperate with as many secondary exchanges as possible to provide maximum liquidity for issuers. Issuance platforms and secondary exchanges are each using a wide range of different blockchains that all need to interoperate as part of the trade process. CSD’s will also need to have interoperability between other CSD’s as well as to the secondary exchanges (again each using different blockchains).

Enter Quant Network’s Overledger

Quant Network’s blockchain operating system, Overledger, provides interoperability between any current and future distributed ledger technology as well as easily connecting Off Chain / Legacy networks as well as plans to connect directly to the Internet. Within 10 months it has proven it can provide interoperability with the full range of DLT technologies from all the leading Enterprise Permissioned blockchains such as Hyperledger, R3’s Corda, JP Morgan’s Quorum, permissioned variants of Ethereum and Ripple (XRPL) as well as the leading Public Permissionless blockchains / DAGs such as Bitcoin, Stellar, Ethereum, IOTA and EOS as well as the most recent blockchain to get added Binance Chain. All without imposing restrictions on connected chains, being Internet scalable and able to easily integrate into existing networks / infrastructure.
Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets
Overledger enables Universal Interoperability where digital assets can move across blockchains so that they can interact with smart contracts on different blockchains. It does this by locking the asset on one blockchain and then representing it on another blockchain either by creating a representing token or representing it via metadata. This will enable all of these different parties such as Issuance platforms, Exchanges, CSD’s, traders etc to move the digital asset from their respective blockchain onto AX Trading’s platform for secure, immediate and immutable trading to take place. Potentially it would even allow Digital Assets / Securities to settled on a public permissionless blockchain such as the recently connected Binance Chain in a completely safe, secure and compliant way.
Regulators would be able to run a node and view transactions in real time ensuring that compliance is being kept. Potentially they could also benefit from using Quant Networks Multichain Search capability to be able to fully track assets as they move across blockchains.
George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.”


AX Trading have also partnered with Securrency (who have previously tokenised over $260 million in real estate assets). Securrency provide a protocol that enables security tokens to remain in compliance regardless of what blockchain the token is on. Due to the layered approach that Overledger has adopted from the learnings of TCP/IP, this protocol can be easily integrated on top of Overledger to enable security tokens to move across blockchains as well as ensuring they remain in compliance with regulations programmed into the token.

Delivery vs Payment (DvP)

A DvP transaction involves the settlement of two linked obligations, namely the delivery of securities and the payment of cash. DvP avoids counterparties being exposed to principal risk, i.e. the risk that the seller of securities could deliver but would not receive payment or that the buyer of securities could make payment but would not receive delivery. Following this requirement, a DvP securities settlement mechanism has to ensure that the delivery of securities and the payment of cash are linked in a way where one leg (obligation) of the securities trade is conditioned to the final settlement of the other leg (obligation) of the trade. Thereby final settlement is defined as “the irrevocable and unconditional transfer of an asset or financial instrument, or the discharge of an obligation by the FMI or its participants in accordance with the terms of the underlying contract”. — STELLA — a joint research project of the European Central Bank and the Bank of Japan
We have seen how Overledger can provide interoperability for the securities to move across Issuers platforms, integrate with Stock exchanges, Central Security Depositories and AX Trading. Now we need to be able to ensure that payment is guaranteed and in a way that offers immediate settlement which is irrevocable. To do this we need to represent FIAT on the blockchain so that it can interact with smart contracts and settle transactions on the blockchain.

J.P.Morgan’s Coin

J.P.Morgan is the largest bank in the United States and ranked by S&P Global as the sixth largest bank in the world by total assets as of 2018, to the amount of $2.535 trillion.
J.P. Morgan was the first U.S. bank to create and successfully test a digital coin representing a fiat currency. The JPM Coin is based on blockchain-based technology enabling the instantaneous transfer of payments between institutional clients.
With J.P.Morgan’s $2.6 trillion balance sheet, expertise in blockchain and global payments network, J.P. Morgan can seamlessly and securely transfer and settle money for clients around the world. J.P. Morgan are supervised by banking regulators in the United States and in the international jurisdictions in which it operates.

How does JPM Coin work?

A Buyer purchases JPM coins in advance which get represented on the Permissioned Quorum blockchain ($1 =1 JPM Coin). Quant Network’s Overledger could then provide interoperability to lock those tokens on Quorum and represent those onto another blockchain / AX Trading’s Network. By being able to represent securities and FIAT on the same blockchain (even though the underlying assets are on different blockchains) this provides instant finality / settlements to occur.
Once the seller receives the JPM coin in exchange for the securities they have sold they will be able to redeem them for USD. It also doesn’t necessarily mean that they have to have a JP Morgan account to redeem them, you could imagine in the future that the Bank instead redeems the JPM Coin and credits the users account. Similarly the buyer of the security token redeems the represented token and unlocks the security token on the original blockchain.
You can read more about JP Morgan’s Coin here as well as its use cases
J.P Morgan is betting that its first-mover status and large market share in corporate payments — it banks 80 percent of the companies in the Fortune 500 — will give its technology a good chance of getting adopted, even if other banks create their own coins. “Pretty much every big corporation is our client, and most of the major banks in the world are, too,” Farooq said. “Even if this was limited to JPM clients at the institutional level, it shouldn’t hold us back.”
Overledger enables different securities tokens / digital coins representing FIAT currencies to be brought together from the various permissioned / permissionless blockchains onto one platform where trading / settlement can take place. Overledger is the only technology that can do this today across the leading permissioned and permissionless blockchains as well as existing networks, all in a secure, scalable and easy to integrate way.
Quant Network are working with AX Trading to bring more digital assets, securities and tokenised assets to their existing 800 institutional traders in an already live and connected FINRA and SEC regulated exchange. AX Trading is not just about trading securities but other digital assets such as Bitcoin, Ethereum and potentially even Quant in the Future.
This is a multi-trillion dollar market with huge global enterprises, traditional exchanges and global banks are all adopting DLT at a rapid pace and going into production at scale in a matter of months, examples include the NYSE Bakkt launching Bitcoin futures later this month, Swiss Stock Exchange ($1.6 Trillion market Cap) is due to launch their digital exchange running on Corda (SDX) by the end of the year. The DTCC are due to launch their Trade Information Warehouse which processes $10 Trillion of cleared and bilateral derivatives by the end of the year. JP Morgan who transfer $6 Trillion every day are due to launch their JPM coin at the end of year and AX Trading is due to offer their first digital asset by January 2020.
Quant Network’ Overledger enables the bridging of traditional finance infrastructure with the new decentralised finance infrastructure DeFi of the future, helping to redefine Wall Street and Capital Markets.
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Cryptocurrencies are mixed as Bitfinex destroys 500 million USDT, more than half of its treasury supply

Crypto News

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Rich bankers paying expensive tickets for Blockchain London Con

There are more and more Blockchain events in London from hackathons to conferences but this is one of the most expensive in terms of pricing I ever seen.
The ticket price is between £465.00 (without VAT) and £2,495.00 (I cant believe people pay so much money for a ticket, see
Just for a bunch of speakers mainly altcoins:
and only one person from the Bitcoin space: Jon Matonis (from the defunct Bitcoin Foundation
See live stream here:
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Cobalt DL and SETL Partnership on Currency Processing Platform

Cobalt DL and SETL, two London-based start-ups have, teamed up on a platform to transform currency trades with blockchain technology, in an attempt to slash establishment times and expenses in the $4.10 trillion pounds world foreign exchange market. Cobalt DL, fronted by former Citi and Deutsche Bank currencies supremo Andy Coyne and supported by 15 major foreign exchange market members, which says it can complete transactions through blockchain right away. Blockchain, started in the virtual currency bitcoin, works as a web-based transaction-processing and settlement system. It constitutes a transcript of any given set of data that is systematically duplicated for all groups in a secure network, wiping out any need for approval from controlling entity.
The current foreign exchange market requires multiple records to be created for buyer, seller, broker, clearer and third parties in currency trades, and then reconciliation across multiple systems. Coyne explained to Reuters, "all data will have their own version of the trade and sends each other messages, confirmations, and everyone records their own version this is the shared version, which every participant in a trade has access to from their own perspective".
SETL chief executive Peter Randall said, "this is not a proof-of-concept or a prototype, rather it will be a revenue-generating implementation of distributed ledger technology". Like Cobalt DL, SETL is also run by heavyweights from the world of finance, rather than pure technologists.
More at
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Come & Help Spread Word on Blockchains & Ethereum, Mon 22nd Feb, 5:30pm Brighton...

We have over 50 booked to attend this event in Brighton, organised by the Digital Catapult Centre, Brighton Ethereum Meetup and software company Brightminded...
If you are interested in helping blockchain tech cross-over to mainstream, than this could be for you...
Title: "An introduction to the Blockchain" Date: Monday 22nd February Time: 5.30-8.30pm Title: An introduction to the Blockchain Description: The Digital Catapult Centre Brighton with Brightminded and Brighton Ethereum Meetup are happy to announce a new series of Blockchain meetups.
The Blockchain has been hailed as the most important innovation since the internet; a distributed data storage technology that essentially creates an infallible public record of digital transactions.
If you have heard of Blockchains but are not sure if it is relevant to your business or if you are a developer and want to know where to start building Blockchain based applications, join us for an exciting series of events where we will cover everything from what Blockchain will mean for your business to the tools and frameworks for implementing it.
About the speakers.
After directorships in traditional Finance, Anthony Culligan became the founder and CEO of Roolo, a P2P Bitcoin exchange, and CEO of SETL, an institutional payment and settlements infrastructure based on Blockchain.
Andrei Baloiu a developer for RS Components, and blogger about Blockchain and IoT on DesignSpark is also a consultant for various Bitcoin start-ups and co- organiser for various Ethereum meetups. His work has won 1st prize at Hack The Block – Blockchain Hackathon, September 2015 and 2nd prize at HackCoin – Digital Currency Hackathon, June 2015 .
Hugh Halford-Thompson is CTO of BTL Group. BTL builds enterprise level solutions that enable businesses to increase efficiency and open new opportunities by harnessing the power of the blockchain in everyday transactions.
It promises to be a fascinating night, so make sure you sign up early!
FREE TO ATTEND. Don't forget to pre-register here:
Join the Brighton Ethereum Meetup:
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Reporte Semanal #3 Julio 2015 I Análisis de Mercado de

Durante la última semana la moneda digital operó la franja entre 297.44 USD y 275 USD. A partir de lo visto en las semanas previas podemos observar como el soporte en el área de los 270 USD se mantiene firme, la suba lateralizada de esta semana se podría completar con un movimiento ascendente si el precio finalmente logra romper la resistencia de los 300 USD.*p7l4dbetAWQiYxS9b1c0VQ.png
En su relativa corta historia, el bitcoin — y su tecnología subyacente, blockchain — han cautivado a los pensadores de todo el mundo, pero no todo el mundo se apresuró a ver su potencial.
Debido en parte a su facturación inicial como una amenaza para el ecosistema financiero tradicional, estas instituciones han respondido tal vez de manera comprensible con críticas afiladas y profundo escepticismo por la tecnología.
Mientras que las principales instituciones descubrieron que el bitcoin fue quizás mas problemático como moneda, creen que la blockchain, el protocolo que gestiona y facilita el intercambio de bitcoin, ofrece ventajas sobre sus sistemas de bases de datos cerrados.
Con esto en mente, los grandes actores financieros han comenzado a presentarse a discutir los experimentos con el blockchain de bitcoin y otros libros de contabilidad descentralizados.
Aunque queda por ver cómo evolucionan estos experimentos, es evidente que algunos de los bancos más famosos del mundo se están moviendo para aprovechar la tecnología.
Aquí están ocho de las mayores instituciones que hicieron público su interés hasta el momento:
  1. BNP Paribas
Según los informes, el banco francés BNP Paribas está estudiando la posibilidad de añadir bitcoin a uno de sus fondos en moneda, según el International Times Business.
  1. Société Générale (SocGen)
Otro de los bancos de Francia — el tercer más grande en términos de activos — está buscando contratar a un desarrollador bitcoin-centered.
Société Générale (SocGen) publicó un listado de trabajo el 2 de julio para una “TI desarrollador en Bitcoin, blockchains y cryptocurrencies”.
  1. Citi Bank
CoinDesk primero se enteró de que Citi había dicho al gobierno del Reino Unido que consideraria la creación de su propia moneda digital a través de una solicitud de Libertad de Información (FOI).
Ken Moore, director de los Laboratorios de Innovación de Citi, dijo más tarde a International Business Times que el banco había estado explorando la tecnología del libro mayor distribuido durante los últimos años.
  1. UBS
UBSSwiss banco de inversión de UBS anunció que estaba abriendo un laboratorio de investigación para la tecnología blockchain en uno de los principales distritos financieros de Londres a principios de este año.
En ese momento, UBS dijo que el trabajo llevado a cabo en el laboratorio de innovación buscará disminuir la brecha entre la banca y el FinTech a fin de determinar que forma tradicional de banca podría crecer a través de la innovación.
  1. Barclays
Apenas el mes pasado, Barclays, el banco multinacional británico reveló planes para la tecnología bitcoin.
Como se informó anteriormente por CoinDesk, el banco firmó una prueba de concepto tras un acuerdo con Safello, un intercambio bitcoin con sede en Suecia.
El objetivo del ejercicio, el banco dijo, era investigar cómo la tecnología blockchain podría fortalecer el sector de los servicios financieros.
  1. Goldman Sachs
Goldman Sachs publicó un informe sobre las monedas digitales el año pasado que puso en relieve el potencial de la tecnología blockchain.
Aunque este informe inicialmente rechazó la idea del bitcoin como moneda y lo etiquetó como una mercancía, un informe elaborado por los analistas de investigación de capital al año siguiente señaló que el bitcoin y otras cryptocurrencies eran parte de una “megatendencia”, que podría transformar la manera en la que las transacciones son llevadas a cabo.
  1. Banco Santander
El gigante bancario español ha estado experimentando con la tecnología blockchain.
Aunque su jefe de investigación y desarrollo debe revelar más detalles sobre su aplicación de la tecnología en el Consenso, ya tenemos una idea de la opinión que el banco tiene sobre la tecnología blockchain.
  1. Standard Chartered
Anju Patwardhan, director de innovación de Standard Chartered, recientemente llevó a LinkedIn para compartir su opinión sobre el blockchain de bitcoin, observando cómo podría ayudar a reducir las tarjetas de crédito, transferencias de dinero y costos de las remesas.
El CEO de Nasdaq Bob Greifeld ha sugerido que el mercado de valores estadounidense planea lanzar proyectos blockchain adicionales “en el futuro”.
Los comentarios son lo último de la empresa, que anunció sus planes a la tecnología blockchain como parte de su servicio de Mercado Privado en mayo. Nasdaq reveló en junio que había establecido una relación formal con los servicios blockchain.
En Declaraciones más recientes que Greifeld hizo en una conferencia telefónica en la que se hizo alusión a la estrategia de las bolsas de valores hacia la tecnología, según Bloomberg.
Greifeld dijo:
“La aplicación de la tecnología blockchain dentro del mercado privado de Nasdaq pretende modernizar, simplificar y realmente asegurar funciones administrativas engorrosas.”
Más detalles sobre el proyecto fueron revelados por el consejero delegado de la cadena Adam Ludwin, quien dijo en una entrevista con CoinDesk que las dos compañías han estado trabajando para poner a prueba la tecnología blockchain durante más de un año.
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Un empresario bitcoin y un veterano de comercio se han unido en un proyecto blockchain que tiene como objetivo agilizar la forma en que se intercambian activos.
SETL utilizará su blockchain, que es “similar a la prueba de juego”, para que los participantes del mercado cortaron la web de los intermediarios en el sistema de post-negociación, ahorrándoles tiempo y dinero.
El proceso de compensación y liquidación actual exige a las empresas a operar a través de muchos libros de contabilidad diferentes a un costo total de $ 65–80bn anualmente.
El CEO Anthony Culligan es un ex-ejecutivo de JP Morgan y el fundador del intercambio peer-to-peer de bitcoin Roolo, que puso en marcha este mes de febrero. Peter Randall, el fundador de intercambio de renta variable europea de Chi-X, actuará como director de operaciones de la plataforma.
A diferencia de la blockchain del bitcoin, SETL funciona usando un libro de contabilidad ‘permissioned’ que requiere que todos los participantes revelen su identidad completa para pasar la diligencia debida.
Se espera que la plataforma alcanze velocidades de 100 mil transacciones por segundo, aunque la compañía dijo que sólo 5.000 se han logrado en las pruebas hasta ahora.
La idea de que la tecnología que subyace en el libro mayor distribuido de bitcoin alguna manera puede estar divorciada de la moneda digital ha sido objeto de debate durante algún tiempo, y fue de nuevo el foco de un nuevo artículo escrito por directores de tecnología de la consultora Accenture.
En un nuevo posteo del CIO Journal, los directores de Accenture, Owen Jeff y Sigrid Seibold ofrecieron sus reflexiones sobre cómo las instituciones pueden comenzar a aprovechar la tecnología en “entornos corporativos” y “mercados financieros”.
Jeff y Sigrid afirmaron que, debido al alto costo de pagar por las transacciones que requieren el consenso en el anonimato, las blockchains necesitan evolucionar más allá de la necesidad de una ficha natal. La crítica es notable en su similitud con argumentos popularizados por líderes de opinión más importantes de la industria como Tim Swanson y Robert Sams que se centran en el costo de la minería distribuida.
Jeff y Sigrid escribieron:
“Para ser utilizado por las instituciones financieras, incluidas las empresas de mercados de capital y las aseguradoras, blockchains deben suplantar los métodos costosos introducidos por Bitcoin con un mecanismo que garantice la seguridad, la privacidad y la velocidad sin pagar por consenso en el anonimato.”
Los representantes de Accenture sugirieron que una solución podría ser el permissioned distributed blockchains, de los cuales Ripple puede ser el ejemplo más notable.
La pieza pasa a hacer una serie de preguntas que todos dieron con una brecha cada vez mayor en la industria. Los defensores han argumentado desde hace tiempo que bitcoin — o algún criptomoneda — es esencial para el diseño de un blockchain, como los blockchains requieren un mecanismo para incentivar los registros distribuidos, un proceso que en la red Bitcoin es facilitado por los mineros en gran medida anónimos.
Accenture ha hecho anteriormente publico su interés en la tecnología, la última en su atractivo para el gobierno del Reino Unido para regular con más fuerza los proveedores de la cartera de divisas digitales.
Migración a blockchain
Obstruir el crecimiento de la tecnología, los escritores dijeron, también sera una decision clave de personas ajenas al ecosistema de la tecnología. Esto incluye la superación de lo que llamaron la falta de regulación que rodea a la industria y la falta de claridad en cuanto a si los contratos inteligentes serían exigibles por la ley.
Es de destacar que dado el reciente interés por grupos como Nasdaq es que los empleados de Accenture van a plantear la cuestión de cómo las clases de activos tradicionales podrían migrar a una red basada en blockchain.
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SETL is an institutional payment and settlement infrastructure based on blockchain technology that has its own blockchain-powered OpenCSD platform. The OpenCSD platform enables any market participant to commission and run a permissioned registry service for payments, settlement, and clearing of cash and other financial instruments. Sell Bitcoin Easily and Safely via LiteBit. Fast Payout to your Bank account. Individuals, businesses, developers: learn from our simple Bitcoin guides. How Bitcoin works, what is Bitcoin, what is blockchain, how to buy Bitcoin, what is Bitcoin mining and more. Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more. Based in the USA, Coinbase is available in over 30 countries worldwide. Before establishing SETL, Anthony was the founder and CEO of Roolo, a peer-to-peer bitcoin trading site. Anthony has been committed to bringing blockchain and distributed ledger technology into mainstream use in the City. Katherine Kennedy General Counsel. Katherine leads SETL’s legal team, with responsibility for all legal-related matters including data protection. She trained and practised ...

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How To Buy And Sell Bitcoin On Paxful - YouTube

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