Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus
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Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus
Fork de Cross Pond High Tech dédié à Blockchain, Ethereum, aux Smart Contracts et au Consensus Décentralisé en général
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Les enjeux de la blockchain en deux minutes

Pour tout savoir en 2 min sur l'initiative de place lancée par la Caisse des Dépôts sur la #Blockchain...
Philippe J DEWOST's insight:
La Blockchain s'explique-t-elle en 2 minutes ? A vous de juger !
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Renaud Munier's curator insight, April 3, 2:28 PM
Expliquer La Blockchain en 2 minutes par Philippe Dewost
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A Venture Fund With Plenty of Virtual Capital, but No Capitalist - NYTimes.com

A Venture Fund With Plenty of Virtual Capital, but No Capitalist - NYTimes.com | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
Olivier Stern, a 31-year-old French socialist with an appetite for risk, recently invested a third of his life savings — 10,000 euros, about $11,000 — in a cryptocurrency start-up that has no legal standing and runs head-on into regulatory obstacles, yet might very well upend the mysterious world of virtual investing.The start-up, a sort of venture capital fund that calls itself the Decentralized Autonomous Organization, has essentially come out of nowhere in the last month and attracted about $152 million, at last count, from investors around the world like Mr. Stern — making it the most successful crowdfunded venture ever, by a significant margin.The venture, like so many things related to the digital currencies that cryptographers are creating on the Internet, is difficult to describe, and it may not be legal. But thousands of mostly anonymous investors have already heard about it through word of mouth and sent money — in the form of Ether, a freshly coded form of currency that has held itself out as a new and improved version of Bitcoin, the most popular virtual scrip.For these investors, in some sense it is the digital equivalent of buying into a bakery with no baker, no menu and no assurance that the ovens will even be delivered. But among the crowd that has invested, faith in the computer code that governs the project appears strong enough to override all those concerns.
Philippe J DEWOST's insight:
The DAO is the first fundraising process massively oversubscribed and with no leader — by design. It has now passed the $160M equivalent mark... Such a Big unforecasted experiment
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Le BlockFest 1.0

Le BlockFest 1.0 | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it

Une semaine pour comprendre le phénomène Blockchain en profondeur en écoutant, en pratiquant, en partageant et en prototypant.

Du 6 au 12 juin à l’Ecole 42, Blockchain France co-organise la première édition du BlockFest. Evènement d’un nouveau genre, le BlockFest 1.0 entend étudier la blockchain en profondeur, au-delà de la théorie, et propose ainsi un format novateur autour d’ateliers pratiques, réflexions collectives et prototypage autour de projets concrets.
Le BlockFest 1.0 a été pensé et organisé par une équipe pluridisciplinaire. L’évènement est sponsorisé par Deloitte, Engie, RCI Banque et la Caisse des Dépôts.

Programme
NB : le programme est indicatif et peut être sujet à modifications

 

Lundi 6 juin

Qu’est-ce que la Blockchain ? État des lieux technologique et idéologique.

15h : Atelier – Etat des lieux des blockchains (technique)
16h : Atelier – Créer son identité sur la Blockchain
17h : Atelier – La blockchain 101 : théorie mathématique et technologies existantes
18h : Conférence – Introduction à la semaine, état des lieux des initiatives publiques et privées, réflexions sur les idéologies derrière les technologies
21h : Cocktail

Mardi 7 juin

Les applications économiques et industrielles

13h : Atelier – Découvrir Hyperledger
14h : Atelier – Exploration de la blockchain dans l’immobilier
15h : Atelier – Energie et blockchain : crédit carbone, smart grid, certification d’énergie verte…
16h : Atelier – Santé et blockchain : gestion des données médicales, détection des contrefaçons…
17h : Atelier – Enjeux judiriques de la blockchain
18h : Conférence – Pitchs de startups blockchain
20h : Cocktail

Jeudi 9 juin

Les implications Culturelles et Sociétales

14h : Stand et animation – Découvrir la blockchain par le jeu
15h : Atelier – Design d’un dispositif de reconnaissance et de valorisation des personnes et des compétences avec les registres distribués
16h : Atelier – Monnaies Locales Complémentaires et Blockchain
17h : Atelier – Supply Chain et Blockchain : traçabilité, labellisation, consommation responsable
18h : Conférence – Education, civic-tech, culture, économie collaborative… comment la Blockchain peut changer notre société ?
20h : Cocktail

Vendredi 10 juin

Travaux sur la technologie et lancement du BlockSprint

14h – Atelier : Créer son smart contract avec Solidity
15h – Atelier : le protocole Chainscript
16h – Conférence : La Blockchain, une solution aux problème de l’Internet des Objets ?
17h – Conférence : Pré-Sprint : récapitulatif de la semaine
18h – Cocktail
19h – Lancement du BlockSprint

Samedi 11 juin

BlockSprint
Le BlockSprint sera un moment de création collective, pour construire des projets blockchain et une base de connaissance ouverte.

Objectifs :
– Présenter des projets blockchains viables
– Découvrir les blockchains (Bitcoin, Ethereum, Hyperledger)
– Construire un MVP (Minimum Viable Product) au sein d’équipes pluri disciplinaires
– Coupler la blockchain avec d’autres technologies (IoT, IA…)

Cadre :
Un week end en équipe, à 42. Possibilité de nuit blanche, restauration et petits moments de détente aussi !

Les participants évolueront dans une logique de « coopétition », avec pour but de construire des prototypes de services, d’organisations décentralisées, de jeux, etc. et consolider la base de connaissance de l’événement.

Les critères de jugement du weekend pour chaque équipe seront donc équitablement répartis entre leur contribution « hack » et leur contribution « communauté ».

Le weekend sera ponctué de séances de mise en commun et de feedback (évaluation par les pairs – participants, sponsors et partenaires) pour un plus grand enrichissement des projets. Le but du BlockFest est que le développement des projets continue au-delà du weekend. Les récompenses sont en cours de définition (incubation, accompagnement, places pour la Devcon…).

Philippe J DEWOST's insight:

Fier que la Caisse des Dépôts soit partenaire du premier BlockFest à l'Ecole 42 !

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The DAO: a radical experiment that could be the future of decentralised governance

The DAO: a radical experiment that could be the future of decentralised governance | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
Distributed autonomous organisations, or DAO, are a new form of decentralised organisation using blockchain technology. The DAO is first off the block, and it's already making waves.
Philippe J DEWOST's insight:

The DAO reminds me of angel groups sidecar funds. People who have a DAO token can vote, just like angel group members can vote to decide an investment. You still need somebody to do the due diligence for it to work. The risk otherwise is what we see with crowdfunding: projects get support because they are sexy, or well advertised, but the money received may not be enough to achieve anything. Since people invest small amounts they do not care, but you end up with a lot of waste.

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The Blockchain is the new Google

The Blockchain is the new Google | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
The following is an excerpt from The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology by William Mougayar. In it,..
Philippe J DEWOST's insight:

interesting article explaining how blockchain is (among other things) frictionless trust, which means that tomorrow we will be "googling" to verify records, identities, etc... more openness, the end of the clearing guilds. A new web is coming our way.

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How blockchains could change the world | Interview of Don Tapscott by McKinsey & Company

How blockchains could change the world | Interview of Don Tapscott by McKinsey & Company | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
Don Tapscott, CEO of the Tapscott Group, is coauthor, with his son, Alex, of Blockchain Revolution. Rik Kirkland is the senior managing editor of McKinsey Publishing and is based in McKinsey’s New York office.Interview transcript of the video

In the early 1990s, we said the old media is centralized. It’s one way, it’s one to many; it’s controlled by powerful forces, and everyone is a passive recipient. The new web, the new media, we said, is one to one, it’s many to many; it’s highly distributed, and it’s not centralized. Everyone’s a participant, not an inert recipient. This has an awesome neutrality. It will be what we want it to be, and we can craft a much more egalitarian, prosperous society where everyone gets to share in the wealth that they create. Lots of great things have happened, but overall the benefits of the digital age have been asymmetrical. For example, we have this great asset of data that’s been created by us, and yet we don’t get to keep it. It’s owned by a tiny handful of powerful companies or governments. They monetize that data or, in the case of governments, use it to spy on us, and our privacy is undermined.

What if there were a second generation of the Internet that enabled the true, peer-to-peer exchange of value? We don’t have that now. If I’m going to send some money to somebody else, I have to go through an intermediary—a powerful bank, a credit-card company—or I need a government to authenticate who I am and who you are. What if we could do that peer to peer? What if there was a protocol—call it the trust protocol—that enabled us to do transactions, to do commerce, to exchange money, without a powerful third party? This would be amazing.

Several years ago, an unknown person or persons named Satoshi Nakamoto came up with the Bitcoin protocol. Once again, the technology genie has been unleashed from its bottle. It gives us another kick at the can, another go, to try and rethink the economic power grid and the old order of things. That, to me, is how big this is. It feels like 1993. 

 

Philippe J DEWOST's insight:

Interesting interview (and early book promotion) of Don Tapscott by McKinsey. Funny to read that "it feels like 1993" !

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Craig Steven Wright claims to be Satoshi Nakamoto. Is he?

Craig Steven Wright claims to be Satoshi Nakamoto. Is he? | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it

IMAGINE that the paternity of a particularly brilliant child is in doubt, and someone steps forward to claim he is the father. In the real world a DNA test would sort the matter out quickly. In the confusing world of bitcoin, a cryptocurrency, things are not that simple. From the start bitcoin has rested on a mystery: the identity of Satoshi Nakamoto, the pseudonym of the author of the academic “white paper” published in October 2008 which first outlined the technology behind the digital money. This mystery may finally be solved: Craig Steven Wright—a 45-year-old Australian computer scientist and inventor who was outed against his will and with dubious evidence as Mr Nakamoto in December last year—now claims he is the real Satoshi. On May 2nd he published a blog post offering what he says is cryptographic proof that he is indeed the creator of bitcoin.

The Economist—along with the BBC and GQ Magazine—had access to Mr Wright before the publication of his post (see footnote). We interviewed him, reviewed the documents he has provided and talked to bitcoin insiders who have communicated with Mr Nakamoto in the past and who had access to the same information. Our conclusion is that Mr Wright could well be Mr Nakamoto, but that important questions remain. Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin.

 

Bitcoin has become much bigger than Mr Nakamoto; he stopped participating in the project a few years ago, and his successors have written far more code than he ever did. Whether Mr Wright’s claim is believed, especially by bitcoin cognoscenti, matters nonetheless. The bitcoin project has been riven for months by what some call a “civil war” between two competing camps of developers and bitcoin companies (although the rhetoric has recently become less strident). One side wants to keep bitcoin smallish and pure; the other is pushing for it to grow rapidly, even if this means turning it into something more like a conventional payment system. The bone of contention is the size of a “block”, the name given to the batches into which bitcoin transactions are assembled before they are validated. The intervention of a resurrected Satoshi would certainly change the dynamics of this debate. First, however, Mr Wright has to persuade people of his claim.

Mystery man
Nobody, not even his closest collaborators, ever met Mr Nakamato in person. They only communicated with him electronically. He not only wrote the white paper, but also the first version of the software that powers the system and then worked with other developers to improve it. But a couple of years into the project, he stopped participating. “I have moved on to other things,” he wrote in April 2011. Except for a few messages, most of which are believed to be hoaxes, he has not been heard from since.

That suggests a huge desire to remain private—and extraordinary willpower. Thus far, at least, the person behind the pseudonym has forgone fame and kudos. Despite its shady side (for instance as an anonymous means of payment for drug dealers) the system has proven very resilient: its exchange rate has recovered after a steep fall last year (see chart). The invention that underlies it, called the “blockchain”, is widely considered downright brilliant. Nor does Mr Nakamoto seem to be motivated by fortune: all bitcoin in circulation are now worth about $7 billion, more than the basic monetary supply (cash and deposits) of many small countries. According to some estimates, Mr Nakamoto holds 1m bitcoin, worth about $450m at current rates, but they have never been touched.

Philippe J DEWOST's insight:

The mystery unveils and thickens at the same time, leaving us with a growing attention to identity as a core feature / central question for any Decentralized Consensus System / Distributed Ledger Technology, and even Decentralized Autonomous Organization.

(and kudos to The Economist, who extracted Bitcoin/Blockchain from geekdom and moved it into seriousdom with their Oct 30st 'The Trust Machine' cover and have been doing some serious digging since)

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Announcing DAO.LINK, The Bridge between Blockchain & Brick-and-Mortar Companies

Announcing DAO.LINK, The Bridge between Blockchain & Brick-and-Mortar Companies | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
Today, we’re announcing DAO.LINK (http://daolink.io/ website coming soon)DAO.LINK makes it possible to bridge the divide between the blockchain and existing brick and mortar businesses. While I personally see 100% on-chain businesses as the inevitable future of the zero marginal cost society, I also think it’s important to understand that transitioning the centralized businesses of today requires an incremental on-boarding process. DAO.LINK provides such a process within the confines of the existing legal systems and regulatory frameworks.
Philippe J DEWOST's insight:
This might be one of the most defining announcements in the current, noisy, often inaccurate Bitcoin/Blockchain bubbling mud as DAO.LINK could solve most of the issues arising at the edge / interfaces of Blockchains...
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Bitcoin Properly - The Real Value of Bitcoin and Crypto currency Technology

Bitcoin Properly - The Real Value of Bitcoin and Crypto currency Technology | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
About The Video, Bitcoin and the Blockchain

In the coming years, the technology behind crypto currencies such as Bitcoin will inevitably and radically change the role of traditional trusted parties such as banks, accountants, notaries, and governments. The possibilities are endless. We invite you to explore this new technology constructively and critically, and have an open discussion about the potential applications.

If you appreciate this video, feel free to pass it around in your network.Or leave a comments below on this site.

If you want to reward the time and effort that went into making this video, consider donating through Bitcoin: 1AtFaRrPFiwm2xUYN2C41edGgKPR5AXYDh

  • Rutger van Zuidam
  • Sebas van den Brink
  • Patrick Loonstra
  • Lykle de Vries

 

Philippe J DEWOST's insight:

Designed by the organizers of http://dutchblockchainconference.com , this 6 min video is a great tool to set the stage, frame expectations, and expose the potential of bitcoin and blockchain(s).

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This startup wants to use blockchains to track every image on the internet

This startup wants to use blockchains to track every image on the internet | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
The internet is great at enabling images to go viral, but it’s not very good at preserving crucial bits of information about those images—which makes it difficult to prove their provenance.A New York startup called Mine is developing technology that would let the owner of a digital image claim that ownership by pointing to a time-stamped record on a blockchain. (A blockchain is a public database of transactions where records can’t be easily altered; the bitcoin blockchain, the system underpinning the cryptocurrency, is currently the world’s most popular one. Here’s an explainer we wrote.)Mine’s system, called Mediachain, would do a few other things, too—for instance, recording alterations made to an image. This means that over time, the history of an image would be captured. This would make it easier to track down an artist for image rights to be licensed, for museums and libraries to share their collections, or for new applications to be built using the data.If Mediachain existed, the Mine founders argue, then any web user would be able to discover the artist who made this animated David Bowie gif; or the person who photographed The Dress. “If I text you a photo from Tumblr, it’s devoid of all context, attribution, and the entire history of that image is lost. Mediachain hopes to solve that problem with a global shared database of media that can be retrieved using an instance of the media itself,” says Jesse Walden, a co-founder of Mine.
Philippe J DEWOST's insight:
"Stop your photo copiers?" Interesting approach of blockchains applied to art assets traceability, with several players such as http://ascribe.io ...
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Vinay Gupta at Michel Bauwens & the Promise of the Blockchain

A conference delivered on Thursday 25 February 2016 at the Flemish Arts Centre De Brakke Grond, Amsterdam
Philippe J DEWOST's insight:
Impressive talk that is framing #Bitcoin, #Blockchain, and Decentralized Consensus in the context of the past 50 years and confirms our intuition that the 3 pillars to decipher the world unfolding in front of us are history, mathematics and philosophy...
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UK Regulators Declare Start of "Beautiful Friendship" with Bitcoin and Ethereum

UK Regulators Declare Start of "Beautiful Friendship" with Bitcoin and Ethereum | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it

Christopher Woolard, Financial Conduct Authority (FCA) Director of Strategy and Competition, announced a regulatory sandbox for fintech companies, a first of its kind. Harriett Baldwin, Economic Secretary to the Treasury, described Bitcoin and Ethereum as “digital currencies” and proclaimed the start of a “beautiful friendship”.

Both have been speakers at Innovate Finance Global Summit in London. As Christopher Woolard said in a groundbreaking speech, the aim of the sandbox is to “test out their innovative ideas without immediately incurring all the normal regulatory consequences.”

FCA may waive rules

Companies and start-ups that participate in the sandbox will be issued individual guidance on how FCA will interpret the rules under the understanding that if the guidance is followed they are in full compliance. The FCA may further waive or modify the rules or, in rare cases, may issue a “no enforcement action”, in effect throwing out FCA’s rulebook during the sandbox stage. Normal laws in regards to civil and criminal liability, of course, still apply. In explaining, Woolard stated:

“These letters aim to give firms comfort that as long as they deal with us openly, keep to the agreed testing parameters and treat customers fairly, we accept that unexpected issues may arise and will not take disciplinary action.”

Similar to accelerators

Signalling a highly innovative and open approach, Woolard stated that the sandbox will run “not dissimilar to how accelerators operate”, with two cohorts a year. Moreover, the FCA intends to go further, announcing an “industry working group to explore options for industry led sandboxes.”

In a further speech at the same summit, Harriett Baldwin, Economic Secretary to the Treasury, indicated UK’s openness and welcoming of fintech innovation not only by announcing new measures, but also by the words she chose. Describing currencies such as BitcoinCT r:  8 and EthereumCT r:  26 as “digital currencies”, Baldwin assured attendees that this was just the start of a “beautiful friendship”.

Announcing an industry-led fintech panel, the addition of “digital experts” criteria to the Visa Scheme, an information hub to facilitate “practical and cost-effective” access to professional services and “fintech bridges” to help UK businesses expand internationally, building on a first of its kind agreement with the Australian counterpart to streamline regulatory access to each other’s market, Baldwin went further. 

More measures to come

“We will be announcing other ways we can help you help UK consumers.” - she stated.

Thus, expect even more measures in what seems to be a complete embrace of fintech, including digital currencies like Bitcoin and Ethereum, and not only a partnership, but a “beautiful friendship”.

The United Kingdom is widely recognized as the most welcoming regulatory environment for Fintech companies.

George Osborn, the Chancellor of the Exchequer, signaled UK’s embrace of Bitcoin and Fintech in 2014 by buying a bitcoin through an ATM, making him the highest ranking government official in the world to have publicly used bitcoin.

At the time, a number of measures were announced, including the incorporation of a Payment

Systems Regulator tasked with ensuring, among other things, access to banking facilities.

The decision to not only embrace, but champion fintech, may turn out to be one of the most astute in a century.

US overhaul ahead

US Regulators have noticed and many are now loudly calling for an overhaul of the complex and outdated US regulations to account for 21stcentury innovations, including a scrapping of the draconian double taxation by IRS and the disastrous bitlicense.

Beginning with CFTC’s commissioner who stated that blockchain tech could have prevented Lehman’s collapse, more and more have asked for a more welcoming regulatory environment, seemingly culminating in a whitepaper asking for recommendations by the Office of the Comptroller of the Currency (OCC), the independent department charged with overseeing banks and hailed by some as the appropriate body to usher in a new, more welcoming, regulatory approach towards Fintech.

The United States however has a more complex regulatory environment with numerous regulatory bodies and overlapping responsibilities as well as different states with different requirements. It is not clear whether US regulators will be able to move quickly, considering that UK has just upped a gear, but, undoubtedly, the whole world is paying great attention to UK's numerous innovative measures and their championing of Fintech.

Philippe J DEWOST's insight:

Of sandboxes, regulators, and friendships across blockchains in 3 steps :

  1. Allow (yourself) to experiment in sandboxes
  2. Gain knowledge from such experimentations
  3. Then decide what, how, and why regulate
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BNP Paribas va tester avec SmartAngels l'inscription des Levées de Fonds des PME dans la Blockchain

BNP Paribas va tester avec SmartAngels l'inscription des Levées de Fonds des PME dans la Blockchain | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
C'est doublement une première. BNP Paribas va déployer la « blockchain » pour les entreprises non cotées en France. Cette expérimentation inédite et grandeur nature servira de pilote pour l'ensemble des activités du groupe bancaire. La banque de la rue d'Antin annonce en effet aujourd'hui avoir noué un partenariat avec la plate-forme Internet de levée de fonds SmartAngels en vue d'utiliser, via la « blockchain », un système de tenue de compte nouvelle génération pour les start-up et PME en quête de capitaux. Ses paramètres sont en cours de définition pour une mise en service à l'automne. Si l'expérience est concluante, BNP Paribas déclinera l'emploi de la « blockchain » à d'autres activités du groupe, notamment en banque d'investissement.Lancé il y a trois ans, SmartAngels a permis à 37 entrepreneurs de lever un peu plus de 20 millions d'euros auprès de particuliers et d'investisseurs institutionnels. Un chiffre très loin des besoins estimés : plus de 100.000 entreprises sont en quête de capitaux dans l'Hexagone. Problème : pour sauter le pas, il n'existe pas d'outil. Le suivi et la certification de transfert des fonds lors des levées de capitaux se gèrent encore de manière artisanale et non homogène, par contact avec les avocats ou des personnes physiques, sous différents supports. En outre, « les technologies de tenue de compte employées par les grandes entreprises cotées ne sont pas pertinentes pour les start-up », relève Marc Younes, responsable du développement produit pour BNP Paribas Securities, notamment en termes de coût. Les petites entreprises ne peuvent pas non plus recruter d'équipe dédiée aux relations investisseurs, appuieBenoît Bazzocchi, le fondateur de SmartAngels .
Philippe J DEWOST's insight:
Love Money goes smart. Reste à savoir dans quelle Blockchain...
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Better with bitcoin

Better with bitcoin | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
CLINICAL trials are a murky old world. The pharmaceutical industry is keen to get new drugs to market and researchers are just as keen to report positive results. This can produce some rather unpleasant side-effects. Selective reporting of data from trials is rife. In one infamous example, a 2001 study reported that paroxetine, an antidepressant, was safe and effective for treating the illness in teenagers. It later emerged, however, that this was based on new measures of the drug’s effectiveness, introduced only after the drug had failed to show any significant improvement in the outcomes that had been specified when the trial was first drawn up. Later studies showed that the drug increased the risk of suicidal behaviour in children.How to guard against such things got Greg Irving, a family doctor and a researcher at the University of Cambridge, thinking. He came up with a way to improve the reporting of clinical trials with the blockchain technology underlying bitcoin, a digital currency. The blockchain is a database that acts as a public ledger of all transactions with the currency, and is thought to be almost completely tamper-proof because it is validated and stored independently on thousands of different computers worldwide. This provides a way, Dr Irving reckons, to check that results have not been fudged.
Philippe J DEWOST's insight:
Decentralized Ledger Technology (aka DLT) could be good for health. Not surprised that Philips Healthcare is investigating the topic (and is present in Boston at the MIT and Common Accord conference on Digital Identities, Contracts and Blockchains) but how will such ledgers be secured and permissioned remains the question...
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Leaderless, Blockchain-Based Venture Capital Fund Raises $100 Million, And Counting

Leaderless, Blockchain-Based Venture Capital Fund Raises $100 Million, And Counting | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
A new entity called The DAO, created using the Bitcoin-inspired financial platform Ethereum, has collected more than $100 million worth of cryptocurrency since late April, and will use the funds to support projects in the sharing economy. The DAO is being touted as a model for a new kind of organization, created and run using blockchain software rather than conventional corporate structures.Nearly everything having to do with Bitcoin and blockchain sounds like some mix of sci-fi, magic, and a pyramid scheme, so bear with us as we try and unpack all that.DAO is an acronym for Distributed Autonomous Organization, and until now, they’ve been a mostly theoretical construct. DAOs (of which The DAO is just one example) have bylaws just like any company. But rather than existing solely as legal documents, those bylaws are hard-coded into a blockchain—a cloud-based, secure financial ledger, of which Bitcoin is the most famous example.In the past year, big banks and enterprise tech companies have started taking blockchain technology seriously, exploring how to use it for secure financial transfers and so-called “smart contracts,” which would enforce financial agreements through cloud-based financial code. Blockchains are billed as much more secure than existing financial infrastructure, whose vulnerabilities have been highlighted in recent days.The DAO is basically one big, complex smart contract comparable to a venture capital fund. It’s offering its own voting shares—called DAO tokens—in exchange for a cryptocurrency called Ether, though for regulatory reasons, The DAO states its tokens are not a form of equity. Ether is the financial component of the Ethereum blockchain. One Ether is currently worth around ten dollars, and the currency’s total market value as of this writing is over $800 million (no, really).
Philippe J DEWOST's insight:
The DAO fund raising process is not over and already raises a trove of questions driven by its unforecasted success (15 to 20% of the total Ether supply could be absorbed by it) and unclear future (how will it deploy such proceedings) not mentioning its by-design absence of leadership. Uncharted territories !
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Kompany to move company records to a blockchain

Kompany to move company records to a blockchain | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
At today’s 2016 joint conference of the European Commerce Registers’ Forum (ECRF) and Corporate Registers’ Forum (CRF) in Cardiff, UK, kompany.co
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World’s largest payments network Visa plans blockchain push from India - The Economic Times

World’s largest payments network Visa plans blockchain push from India - The Economic Times | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
Our expectation is that there will be a lot of work that is done around our APIs,” said TR Ramachandran, group country manager for India and South Asia at Visa.
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State of Blockchain Q1 2016: Blockchain Funding Overtakes Bitcoin - CoinDesk

State of Blockchain Q1 2016: Blockchain Funding Overtakes Bitcoin - CoinDesk | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it

Nearly two-and-a-half years have now passed since Marc Andreessen penned a widely referenced New York Times op-ed about how bitcoin reminded him of the Internet circa 1993. His forecast suggested that it would be only a few short years before the blockchain-equivalent of Web 1.0 world-beating companies like Cisco would emerge.

 

In contrast, a string of voices, ranging from author and consultant Chris Skinner to financial institutions such as Morgan Stanley, have suggested that blockchain maturity and adoption is likely to take much longer than Andreessen's forecast.

 

In other words (and to stay with the Internet analogy), the skeptics would say blockchain adoption is actually closer to 1970s-80s Internet time, when foundational protocols like TCP/IP were invented, rather early-1990s Internet time.

 

Who's correct in this debate remains to be seen, but the stakes are incredibly high for an industry with over $1bn in venture capital investment.

 

Philippe J DEWOST's insight:

Here come the best quaterly update for the Bitcoin / Blockchain industry.

I strongly recommend you crawl through the slideshare deck as it is both incredibly detailed and very clear in its taxonomy and illustrations.

Please note that as of Q1 2016, total venture capital investment in bitcoin and blockchain startups now exceeds $1.1bn , mostly in the US

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Inside the Secret Meeting Where Wall Street Tested Digital Cash

Inside the Secret Meeting Where Wall Street Tested Digital Cash | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
On a recent Monday in April, more than 100 executives from some of the world’s largest financial institutions gathered for a private meeting at the Times Square office of Nasdaq Inc. They weren’t there to just talk about blockchain, the new technology some predict will transform finance, but to build and experiment with the software.By the end of the day, they had seen something revolutionary: U.S. dollars transformed into pure digital assets, able to be used to execute and settle a trade instantly. That’s the promise of a blockchain, where the cumbersome and error-prone system that takes days to move money across town or around the world is replaced with almost instant certainty. The event was created by Chain, one of many startups trying to rewire the financial industry, with representatives from Nasdaq, Citigroup Inc., Visa Inc., Fidelity, Fiserv Inc., Pfizer Inc. and others in the room.The event -- announced in a statement this Monday -- marked a key moment in the evolution of blockchain, notable both for what was achieved, as well as how many firms were involved. The technology’s potential has captivated Wall Street executives because it offers a way to free up billions of dollars by speeding transactions that currently can take days, tying up capital. But a huge piece of that puzzle is transforming cash into a digital form. And while some firms have conducted experiments, the Chain event showed a large number of them are now looking jointly at a potential solution.“We created a digital dollar” to show the group at Nasdaq an instant debit and credit on a blockchain, said Marc West, chief technology officer at Fiserv, a transaction and payments company with more than 13,000 clients across the financial industry. “This is the first time the money has moved.”Quietly BuildingChain is already known in some Wall Street circles for its project to help Nasdaq shift trading of non-public company shares onto a blockchain. But for the most part, it has kept relatively quiet compared with other fintech ventures.The San Francisco-based company also used the April 11 meeting to introduce its customers and investors to Chain Open Standard, an open-source blockchain platform that the venture has been designing for more than a year, said Adam Ludwin, the company’s chief executive officer. What Chain has done is engineer the complicated elements needed for a blockchain to work, so that its customers can build custom solutions on top of that to solve business problems, he said.“We’ve been quietly building with a whole bunch of folks for a few years,” he said. “Blockchains are networks, so we think collaboration is important, but what’s even more important than collaboration at the beginning is getting the model right.” The event was kept secret so executives could freely share nascent ideas and take risks. “The more press, the less quality of the dialogue and problem-solving,” he said.The most common blockchain is the one supporting the digital currency bitcoin, which has been active since 2009. Financial firms have been reluctant to embrace bitcoin, however, as its anonymous users could entangle banks in violations of anti-money-laundering and know-your-customer regulations. Digital U.S. dollars, or any other fiat currency, on the other hand, doesn’t pose those risks.‘Mainframe Era’
Philippe J DEWOST's insight:
Chain gets out of the woods and looks indeed like a smart investment of Orange Digital Ventures...
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How Barclays Used R3's Tech to Build a Smart Contracts Prototype - CoinDesk

How Barclays Used R3's Tech to Build a Smart Contracts Prototype - CoinDesk | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it

UK banking giant Barclays took another step toward positioning itself at the forefront of innovators in the blockchain sector last week with the news it had become the first to trial Corda, a new distributed ledger platform from partner R3CEV.

The prototype, demoed at the Barclays Accelerator in London last week, follows a particularly active period for Barclays, which earlier this month revealed it would provide banking services to blockchain payments startup Circle, and earlier this year, participated in a test of a private version of the Ethereum blockchain with 11 R3 member banks.

In interview, Dr Lee Braine of the Investment Bank CTO Office at Barclays, spoke to what it described as a broader need for leadership from the banking industry should the industry want blockchain technology to “reach maturity”.

Braine said that Barclays aims to devote time and expertise to the ecosystem, specifically to areas where banks have more experience than innovators. In particular, he cited Barclays and its drive to create smart contracts templates, as an example of this ongoing work.

 

Braine told CoinDesk:

"What we’ve been doing in the last year, working with other banks through consortium and directly with startups, has been providing feedback around tech… In this case, we have subject matter expertise around legal documentation around the bank. Startups may not have that, so we thought by showcasing this, we’d look to encourage other banks to move into this space."

 

To Braine, step one for the proof-of-concept was to determine how blockchain-based smart contracts could be connected to real-world legal contracts. This possibility, he said, could enable the simplification of legal documentation, while mutualizing costs.

 

Braine said that Barclays approached the challenge by devoting a full team to its incubator program for the project, during which these employees liaised heavily with internal legal teams working on derivatives.

"We’ve taken in their preferences in order to build the interface," Braine said. "The lifecycle, the workflow ... these aspects were driven by the legal document automation team."

But Barclays is not alone in identifying this area as one where blockchain and distributed ledger tech could play a role. Industry startup CommonAccord, incubated in the BNP Paribas accelerator, has also set its sights on codifying and automating legal contracts.

Philippe J DEWOST's insight:

Moving up the chain to design Smart Contract Templates as "Code is Law" morphs into "Law is Code". Nice mention of two of our Initiative partners BNP Paribas & Common Accord !

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Intel Conducting Experiments to Massively Scale Blockchain

Intel Conducting Experiments to Massively Scale Blockchain | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it

Intel, the largest chip-maker in the world, is looking to trusted execution environments on its hardware chips to enhance security and privacy for blockchain users.

Speaking at the Tomorrow’s Transactions conference in London this week, Kelly Olson, director of the distributed ledger technology group at Intel, discussed ways it is possible to use a "secure enclave", similar to what Apple uses for its Touch ID, to increase blockchain security.

Olson's group is conducting research on large-scale deployments of blockchains that could scale to several tens of thousands or millions of nodes, though he said the work is still in early stages.

Still, Olson made the case for using secure hardware solutions that can provide a trusted computation environment. The immediate use case of such a hardware solution would be for key management in blockchains.

Discussing bitcoin specifically, Olson noted that even though the public blockchain network itself has been very secure, users have experienced losses due to lost or stolen private keys.

Olson said:

"While initial blockchain deployments like bitcoin have proven to be quite secure, they have shifted the burden of security from the network to the endpoints that write to the blockchain."

Olson discussed the use of such a secured hardware computing environment not just in security, but also privacy.

The goal is to bring privacy to the blockchain without centralization, he said, which could prove a difficult task. One proposed solution is to treat the hardware itself as a trusted third-party that can provide a level of verification that is generally either publicly distributed or privately validated.

“Privacy is one of the most difficult problems to solve, as transaction validation and transparency often go hand in hand," he said.

Philippe J DEWOST's insight:

Now it is getting interesting as Intel puts a toe in the arena. Antminer's ASICs might not be alone for long...

and #HardwareIsNotDead :-)

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A Slovenian Bitcoin Exchange Just Got Approval to Operate Across the EU

A Slovenian Bitcoin Exchange Just Got Approval to Operate Across the EU | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
Fifteen months ago, hackers lifted more than $5 million from the bitcoin exchange operated by Bitstamp, a Slovenian company that aspired to push the digital currency across Western Europe. The hack wasn’t nearly as large or as devastating as the one that pilfered $460 million from Mt. Gox and sent the Japan-based exchange, then one of the world’s largest, spiraling into bankruptcy. But it was yet another black eye for bitcoin, the digital currency that holds so much promise as an alternative to fiat currencies but has never really broken into the mainstream.In small ways, however, bitcoin is climbing back towards respectability. This morning, Bitstamp announced that it has received a license from the Luxembourg Ministry of Finance to operate as a payment institution, and according to the company, this license applies to the European Union as a whole. “With this,” says Dan Morehead, the chairman of Bitstamp and the CEO of Pantera Capital, a firm that specializes in investments related to bitcoin, “Bitstamp is able to do business in all 28 countries of the EU.”
Philippe J DEWOST's insight:
Looks that the smaller EU members are also the nimblest : time to align on the fastest instead of the biggest ?
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Inscrivez-Vous Au Séminaire "Blockchain Et Les PME-PMI" le 11 mai

Inscrivez-Vous Au Séminaire "Blockchain Et Les PME-PMI" le 11 mai | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
L'objectif de ce séminaire est de permettre aux PME/PMI de bien mesurer quels sont les champs possibles de la Blockchain, en les confrontant directement avec les acteurs et les usages de cette technologie, qui ne semble pas connaître de frontière.Programme9 h 00 - 9 h 15 : Accueil (petit-déjeuner)9 h 15 - 9 h 30 : Introduction et présentation du séminaire- Denis Deschamps - CCI Paris IdF / ARIST PARIS IdF- Christophe Bricout - CAP'TRONIC9 h 45 - 11 h 00 : Table-ronde sur la Blockchain : Qu'est-ce que c'est et pour quoi faire ?- Daniel Augot - INRIA / DG Transfert : La Blockchain, qu'est-ce que c'est ?- Alexis Collomb - CNAM : La Blockchain, pour quoi faire ?- Manuel Ortiz - AYMING : Les aides publiques et privées pour développer la BlockchainModération : Denis Deschamps11 h 00 - 11 h 45 : Témoignages d'entreprises avec débats animés par Blockchain France- Florent Schlaeppi : NOVERTUR- François Fort : GUACAMOL- Willian El Kaim : LA FABRIQUE DES MOBILITES- François Dorléans : STRATUMNModération : Antoine Yeretzian11 h 45 - 12 h 30 : Table-ronde sur la Blockchain : Quelles implications économiques et juridiques ?- Philippe Dewost - CDC : Un benchmark des opportunités de la Blockchain- Raphaël Levy - INPI : La protection du software (droit d'auteur / droit des brevets) - Les brevets et la technologie Blockchain- Thibault Verbiest et Georgie Courtois (Cabinet De Gaulle, Fleurance et Associés) : "Intelligence artificielle, objets connectés et smart contracts"Modération : François Chevillard - FC Développement12 h 30 - 12 h 45 : Questions / Réponses
Philippe J DEWOST's insight:
Une opportunité de se voir tout en apprenant : qui vient le 11 mai ?
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Eris Industries Partners With Ledger For Blockchain Hardware Security

Eris Industries Partners With Ledger For Blockchain Hardware Security | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
Eris Industries, a leading platform provider for enterprise blockchain applications, has announced French startup Ledger as its hardware security partner to improve security of critical workflows and protect its blockchain-based infrastructure.Founded in January 2015, Ledger is a technological leader in the blockchain security industry and provides a wide range of trusted hardware solutions for both consumer and enterprise usage. The launch of Ledger Nano – a hardware wallet – in more than 80 countries helped Ledger to solidify its footing in the international Bitcoin ecosystem.“Ledger is at the forefront of providing tools to secure blockchains and manage private keys. Ledger’s BOLOS platform is a crucial security offering which fills a vital security gap in the blockchain ecosystem”, said Casey Kuhlman, CEO of Eris Industries. “We are therefore very pleased to be working with Ledger, and together we will provide our users with the most flexible, capable, and user-friendly application development tooling in the market today.”Eris Industries builds software that allows anyone to develop their own secure, low-cost, run-anywhere applications using blockchain and smart contract technology. It is the maintainer of the free and open-source Eris Platform, the world’s leading enterprise blockchain application development platform. The company has been making remarkable strides recently, as evidenced by its recent partnership with PricewaterhouseCoopers (PwC). In addition, it successfully delivered a commercial paper prototype system for 40 of R3 CEV’s 43 member banks. Eris is the only blockchain application platform available on both Microsoft Azure and Amazon Web Services Marketplace.“Eris Industries is a fast growing blockchain infrastructure provider for Fortune 500 customers. We are looking forward to deploying our solutions to their infrastructure and bring a strong layer of security to the management of critical workflows and cryptographic primitives”, said Eric Larchevêque, Ledger’s CEO, said.
Philippe J DEWOST's insight:
We met with Eris CEO yesterday and must admit I am impressed by what they have been achieving in such a short time frame !
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Airbnb just Acquired a Team of Bitcoin and Blockchain experts

Airbnb just Acquired a Team of Bitcoin and Blockchain experts | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it
Home-rental company Airbnb has “acqui-hired” the majority of the team behind ChangeCoin, a startup that runs a bitcoin-based micropayments service, according to four people with knowledge of the deal.
The alternative lodging site has been looking at a few bitcoin and blockchain startups, according to two sources, to study what the technology could do for its services. Companies like Uber and Airbnb are built on their ability to manage supply and demand, which could be aided by a powerful, open ledger system like blockchain.
Through a service called ChangeTip, ChangeCoin lets users send tiny amounts of money, or tips, over social networks including Twitter and Reddit. But Airbnb appears to only be interested in the talent behind the company: ChangeCoin is still shopping its intellectual property, sources said.
The firm is run by ex-Yahoo engineer and noted bitcoin entrepreneur Nick Sullivan, and has between 11 and 50 employees, according to CrunchBase.
Whereas financial firms have been devoting resources and announcing pilot projects around blockchain, consumer technology companies haven’t said much on the topic. But Airbnb recently hinted at its interest in the tech, with Nathan Blecharczyk, a co-founder and the company’s chief technology officer, telling CityAM that blockchains might allow Airbnb to share its user profiles with other companies. “The question is whether there’s a way to export [a user’s reputation] and allow access elsewhere to help other sharing economy models really flourish,” he said.
As Airbnb has grown its userbase to more than 17 million in summer 2015, according to the company (pdf), it’s also developed a valuable database of reviews and ratings that let hosts and guest judge the trustworthiness of who they’re dealing with. “Within the context of Airbnb, your reputation is everything, and I can see it being even more so in the future, whereby you might need a certain reputation in order to have access to certain types of homes,” Blecharczyk told CityAM.
Trust is something blockchains are uniquely suited to dealing with. They can provide a permanent record of transactions and other data, and, in some cases, can render that data universally readable, as in the case of the bitcoin blockchain.
If Airbnb can figure out a way to make its user profiles immutable and universally readable, they could become a trusted form of digital identity, a bit like the profiles that credit bureaus create for individuals. If these identities can be “exported” to other platforms, as Blecharczyk said, they could become hugely valuable. An Uber driver, for example, might know if his next passenger came with a history of leaving Airbnb properties damaged.
Philippe J DEWOST's insight:

The acquisition of ChangeCoin by AirBnb might induce confusion on the short term. Still, short article worth a read if you want to grab the links between blockchains and identity

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Bitcoin Could Consume as Much Electricity as Denmark by 2020

Bitcoin Could Consume as Much Electricity as Denmark by 2020 | Consensus Décentralisé - Blockchains - Smart Contracts - Decentralized Consensus | Scoop.it

Efficiency of mining hardware

I started with the the amount of operational mining hardware (measured as the hashrate in number of hashes per second), and the efficiency of the hardware (which can be measured in Joules per hash).

The total bitcoin mining network currently comprises a calculation speed of over 800 petahashes per second, which requires over 10,000 metric tonnes of hardware, considering that even the newer machines weigh over 12 kilograms each (15 grams per GHash/sec. on average in the analysis below). That is enough material to build another Eiffel tower.*

In the beginning of the bitcoin phenomenon, miners used any laptop or computer to generate bitcoins. As the difficulty of mining bitcoin increased—part of the cryptocurrency’s design—miners upgraded to graphics cards, and then more sophisticated hardware. The state of the art is dedicated bitcoin mining chips (called application specific integrated circuits, or ASICs). ASICs have been available for three years, so we have a small basis to explore the improvements in the efficiency of mining hardware.

Let’s have a look at the efficiency of those ASIC miners over time. I took an existing comparison of bitcoin mining hardware, to which I added a few miners myself and looked up all their first shipping dates, based on various sources (company specifications, blog-posts, first reviews, etc.). After exclusion of the ones that were never actually shipped to customers, and after exclusion of some of the early highly inefficient ASIC miners because they didn’t fit any trend, I ended up with a list of 53 types of bitcoin miners and plotted their efficiencies against their original shipping dates as can be seen below.

 

Philippe J DEWOST's insight:

Very interesting, documented yet (asumedly) speculative article that, beyond its clickbait title, lays some invaluable figures and orders of magnitude for anybody willing to seize the energetic price tag of mining based "proof of work" in the Bitcoin network.

  • mining a single bitcoin transaction requires as much electricity as the daily consumption of 1.6 American households
  • Since the introduction of the first ASIC mining hardware in January 2013, the average monthly growth of the network’s hashrate has been a daunting 37 percent.
  • The impact of this summer planned / expected reduced bitcoin reward (from 25 to 12,5) could as well be a “mining gap” — a large decrease in mining activity — as electricity costs will make mining unprofitable until the price of bitcoin rises again. Or it will lead to increased bitcoin scarcity and therefore a quick increase in the bitcoin price, which would possibly lead to an even higher growth in hashrate quickly after the gap.

I recommend also the read of another article this one points towards, and that provides interesting comparison with the Visa network, both in terms of throughput and energy eficiency (a Visa transaction would be 5000x more energy efficient according to this source).

Finally, this "paper" points to a list fo dedicated mining hardware allowing to seize the extent of the phenomenon and the race to ASIC mining.

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