Quote From DNotes:

Same here Marc, it has only been a month and it is already taking off. We have been very fortunate to have found so many talented people and help from our community.

This press release, and next one to come, are the big ones and should provide some insight into where we are heading.

[/quote]

DNotes has been all about foundation building. Even I am amazed how much our team has accomplished in a very short period of time. Yet, we are significantly more than just DNotes the currency. We have been building a whole ecosystem. It was cool for me to do a Google search this morning and saw the the following result:

Bitcoin Alternative DNotes Announces New Company ...
dcebrief.com/bitcoin-alternative-dnotes-announces-new-company-launc...
•   
1 hour ago - Bitcoin Alternative DNotes Announces New Company Launch in 2016To Integrate The Currency, Payment System, and Blockchain.

We are building a complete system; a lean, mean machine as opposed to just a couple of components. That is why we are so certain that we will get to our ultimate destination - the trusted global digital currency for everyone.

Mati, I am afraid that you are quite correct, although I believe that Bitcoin is not going away anytime soon. I still feel very strongly that what is good for Bitcoin is good for our industry.

Unfortunately, Bitcoin lacks an individual or a group of individuals with sufficient invested interested to protect and promote Bitcoin. There is no leadership to help unite or lead our industry, making us a easy target for the disrupted parties to push back. We correctly pinpointed Bitcoin's weaknesses and industry threats before launching DNotes in February, 2014 allowing DNotes to be built from ground up with a new improved model. I am very confident that we will gain the leadership position one day. Our press release today will be very telling. Read it very carefully. What we need is a worldwide grass root movement to build a trusted global digital currency for everyone. Irrespective of how we feel about national fiat currencies, it is healthy for the people of the world to have a choice; an alternative not to have to put all their nest eggs in one basket.

I read this article yesterday and decided to walk away from it, for fear that my instinctive comments would not come across that nice to Mr. Bankers. With a cooler head, it reminded me of a memorable experience I had with a banker at the start-up stage of Dauphin Technology in 1989. Like most start-ups we struggled to raised working capital and I spent a significant amount of time working with a number of local banks. They all were excited to work with me because of my experience as a proven entrepreneur, my vision, and winning strategies for the company. Unfortunately, they all came back with more ore less the same answer after their loan committee reviewed of our loan application. "Mr. Yong, you have a very interesting situation here, and we like to stay in close touch with you. Unfortunately, we decided to take a pass at this time, because you are still at an early stage." They all knew at the first meeting that the company was only about one year old.

I got it and decided not to waste any more time with any Bank. Weeks went by, and a "different" Bank V. P. insisted in meeting with meet me, with the assurance that his bank was different. He was certain that his loan committee would be favorable. I made my position very clear that I did not want to waste any more time on it. He was persistent enough to convince to give it one more try, and I did. You guessed it. He came back with exactly the same answer. And I looked at him straight in the eyes and said, "You all bankers are so much alike, you should all be wearing the same uniform." I still remember every word of it after 26 years.

So the Australian banks must have been feeling the competitive threats from Bitcoin ("It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people"). and decided to push back. Australia will not be the last country to do that. This makes it even more critical that our industry work closely together for the mutual benefits of everyone. Personally, I believe that banks have a lot more to gain by working with us, not against us. How else do they get to service the 2.5 billion unbanked or underserved by banks and financial institutions?

Stay tuned, we will have a very interesting press release tomorrow, revealing more on our road map than we have ever done.

Thanks, Chase. Although, I won’t give the author very high marks, there are some very good points worthy of my comments.

Quite often there is a “pioneer penalty” as apparent in the case of Bitcoin. As much as Bitcoin is still enjoying the “first mover advantage” with substantially higher market cap than all the other coins combined, Bitcoin is saddled with “pioneer penalty” that it may never be able to sufficiently overcome and gain mass acceptance.

Our upcoming press release scheduled for publication on Monday will be quite telling as we reveal part of our road map for 2016 and beyond. Being positioned to be the trusted global digital currency for everyone worldwide to participate, we believe that DNotes has a great chance to take the leadership position one day.

“Innovation leaders burst onto the scene, win early market leadership, but sometimes can't sustain the pace. Why do "fast followers" often jump in later and make fortunes?”

Innovation leaders are often consumed by the excitement of their innovative ideas and failed to recognize that being outstanding in just a few areas while being weak in others areas is a failing strategy and not sustainable.


“The basic premise of the book is that management optimizes around protecting their existing business and fails to recognize and react to disruptive threats.”

This is true even with established business. Sometime, reacting to disruptive threats may not be sufficient. Understanding, the threats objectively, with winning strategies to deplore multiple action plans may be the best course of action. Major banks today are responding to the disruptive threads from Bitcoin and other digital currencies like DNotes. Perhaps the optimal strategy here, may be, to collaborate with an innovative small player like DNotes and benefit from their strengths in multiple areas, including being nimble, agile, and innovative.

 “it takes a different set of skills to start a company than it does to sustain a company”

This is very true, even in the case of DNotes. We will bring in professionals at the appropriate time.

“Lessons for entrepreneurs;
•   Never stop innovating
•   Build a well rounded management team early
•   Value sales and marketing talent as much as technical talent
•   React quickly to disruptive technologies or business models
•   Don't be too proud to imitate when it makes sense”

They are all good points with too many more to list, such as being the best in class, and be great across to board as opposed to being exceptional in one area but poor in others. I am still trying to find time to finish my book which will cover this subject in details.

•   Apple Newton ->Dauphin DTR -> Palm Pilot -> Blackberry



The author certainly did not have a very complete list. There are many more than what he listed. Dauphin DTR was the leader of the pack and dominated the news in the personal computer industry. http://articles.chicagotribune.com/1993-05-20/business/9305200013_1_pen-based-dauphin-technology-risc-system

*****************************************************************

Quote From Chase – Oct. 2, 2015:

This story is the same age as bitcoin, so it's getting on in years, but I really enjoyed it and can see a lot of similarities here in cryptocurrency. 




Better business model, better marketing, better timing, better management

Innovation drives our industry, attracts the best talent,  attracts VC money, and wins fame for its leaders. Innovation leaders burst onto the scene, win early market leadership, but sometimes can't sustain the pace. Why do "fast followers" often jump in later and make fortunes? Is management responsible for the success or failure? Or, are these innovation leaders acquired by larger players before they have a chance to evolve into successful stand alone companies?

I have been on the leading edge, sometimes bleeding edge, of technology for most of my career. I have been fortunate to be part of start-up teams that have created "first-of-its-kind" innovations at companies like Forte Software, AltaVista, Napster, Bowstreet, and Groove Networks. All of these companies were first in their field, yet few of them realized the financial rewards one would expect. Is it all timing and luck? I don't think so.

Before exploring the reasons for success or failure lets review a list of innovation leaders and fast followers.

There is a rare breed of technical visionaries who are also great business leaders. Bill Gates, Gordon Moore, Larry Ellison, and Scott McNealy are examples. They are truly extraordinary and rare


•   AltaVista -> Google
•   Napster -> iTunes
•   VisiCalc -> Lotus 123 -> Excel
•   Word Perfect -> Word
•   Netscape -> Internet Explorer
•   Apple Newton -> Palm Pilot -> Blackberry
•   IBM PC -> Compaq -> Dell
•   Double Click -> Google Ad Sense
•   Ofoto -> Flickr
•   Compuserve -> AOL -> @Home -> Comcast & Verizon
•   Nintendo –> Xbox
•   Friendster –> Facebook
•   Blackberry –> iPhone

All of these companies were innovation leaders and market leaders. Yet, they were eclipsed by fast followers, in some cases multiple times, who imitated their innovation. My belief is that the technology was outstanding. The management was not.

Clayton Christensen wrote The Innovators Dilemma which I reviewed in an earlier post. The basic premise of the book is that management optimizes around protecting their existing business and fails to recognize and react to disruptive threats. However, the examples in Christensen's book play out over 10 or 20 years. The above examples played out in 5 or less years. Are the same factors at work here? Lets take a look.

AltaVista was the first search engine and the clear technology leader. The management at DEC didn't understand what they had and didn't invest the necessary resources to make it a business success. Later Compaq and CMGI squandered the search opportunity and tried to imitate Yahoo, Excite, Lycos, and AOL in the consumer portal game. Big mistake. Fault management.

Napster was the first P2P file sharing application to bring together search, FTP, and Instant Messaging. Brilliant technical synergy. There are lots of reasons for failure here, mostly management decisions and unfortunate timing.

VisiCalc was the first spreadsheet, invented by Dan Bricklin and Bob Frankston. I know Dan fairly well but have never asked him why he thinks VisiCalc fell behind and Excel moved ahead. This topic deserves its own post. My memory is that VisiCalc was slow to adopt the DOS platform. Lotus 123 moved ahead on DOS and achieved market leadership, but failed to jump onto the Windows platform fast enough. Excel did make the move and the rest is history.

IBM created the PC revolution and was the early leader. Compaq was a fast follower focusing on "transportable" PCs and won huge market share. Dell came in later and trounced them all with a better business model.

Compuserve was the first dial-up service provider. Together with Prodigy they dominated the market. Later AOL entered the game with superior marketing and original content. AOL absolutely dominated in the 80's and early 90's. Then @Home created the cable Internet market and took the early lead. It wasn't long before Verizon, Comcast, and other cable providers owned the broadband market. AOL never really made the transition from dial-up to broadband.

In nearly every case the early innovators were eclipsed by fast followers. Why did the fast followers take over market share leadership?

•   Better business model (Google, Ad Sense, Dell)
•   Better market position (Word, Excel, Comcast, Verizon)
•   Better timing (iTunes, Flickr)
•   Better platform choices (Blackberry, Word, Excel)
•   Better management (all the fast followers)

It is overly simplistic to pin the success or failure of these innovators on one factor. There were a combination of factors at work. But in most cases the problem was not inferior technology, it was inferior management decisions.

So, were these early innovators led by technical visionaries who were not good managers? Will the imitators  and "fast followers" suffer the same fate and be overtaken by new fast followers?

The list of "fast followers" above are more than just imitators. They have continued to innovate far beyond the original idea or feature set and have maintained market leadership. If you look closely at these companies they have a  mix of technical visionaries and business management leaders. I discussed this with Robert Scoble who pointed out that it takes a different set of skills to start a company than it does to sustain a company. This balance of skills, I think, is the key to sustained market leadership.

Cisco is an example of an early innovator that kept their market leadership position over time. Their technical founders brought in professional managers to take them to the next level.

There is a rare breed of technical visionaries who are also great business leaders. Bill Gates, Gordon Moore, Larry Ellison, and Scott McNealy are examples. They are truly extraordinary and rare. However, I suspect that each of them has a strong business management team behind them. Bill Gates has Steve Ballmer. Larry Ellison had Ray Lane. The early innovators who failed did not have the business leadership necessary to sustain them.

Lessons for entrepreneurs;
•   Never stop innovating
•   Build a well rounded management team early
•   Value sales and marketing talent as much as technical talent
•   React quickly to disruptive technologies or business models
•   Don't be too proud to imitate when it makes sense
Source:
 http://vator.tv/news/2009-06-29-why-fast-followers-beat-first-movers#V53zpWR7c8EHzQFt.99

Excellent work, Joe. What we need now is to have more DNotes believers to expand their support by doing even more to help take DNotes to the next level. With your help, we have accomplished a lot and we appreciate your participation very much.

We are actively positioning DNotes for phase two of our strategic plan to commence in 2016. Watch for our next press release scheduled for Monday next week. We are disclosing our road map more than we have ever done.

I am not posting this article because of the sensational and negative headline. In fact the headline is fine and very appropriate for this article. There has been so much negativity about Bitcoin, I might even be a little at fault for being too sensitive when I come across anything that linked bad actors to Bitcoin like the most innovative technology of our generation is faulty.

The author did such a great job with his concluding paragraphs, as follows, that I can close my case without even having to state my argument. Digital currency, like fiat currency, will be used to conduct illegal acts. Fiat currency can be used without a trace. Digital currency provides and preserves all the trace evidences. When fully implemented, digital currency, like DNotes, is far superior to fiat currency in meeting every function of money; as a unit of account, as a medium of exchange, and as a store of value. When the vast majority of the transactions are between two parties at nearly zero transaction cost, hundreds of billions of dollars will be saved in global commerce. That is what DNotes is committed to accomplish. It may take us a generation to achieve that goal but I do know that it is a worthy mission for the betterment of mankind.

“This story will have a slightly negative impact on the Bitcoin ecosystem, as mainstream media will continue to feast on anything that puts virtual currency in a negative spotlight. However, it is exactly these mainstream media outlets who are not telling the entire story, as the major culprit isn’t Bitcoin, but fiat currency.

Bitcoin is perfectly traceable and a far cry from anonymous. Fiat currency, on the other hand, is the most anonymous form of money that has ever existed. There is no way to trace paper money or coins at any given time, and fiat currency has been part of drugs, gambling, prostitution or any other illegal activity since the day it was created.”

Dutch Police Arrests Three People in Bitcoin Money Laundering Investigation

A total of six people has been arrested during police raids yesterday, which took place in The Netherlands and beyond. These police raids are a result of an ongoing investigation regarding money laundering with Bitcoin, a service offered by several individual residing in the Rotterdam area. Bitcoin’s PR problem has gotten slightly worse yet again by the look of things.


It is not the first time Bitcoin is linked to money laundering activities. However, this police investigation focuses on several individuals offering a guaranteed anonymous exchange from fiat currency to Bitcoin. This type of business is deemed illegal under Dutch national law, and it was only a matter of time until the operation was shut down.

The individuals offering this service would accept large amounts of Bitcoins in exchange for fiat currency, all the while charging a higher commission rate. Doing so enables money laundering of stolen or illegal fiat currency into Bitcoin, which will affect the Dutch economy in the long run. Customers who received the fiat currency would own illegally obtained funds, causing all kinds of legal trouble.

According to preliminary reports, these individuals have been able to launder a few million EUR through Bitcoin. All of the bank accounts and Bitcoin wallets used during the operation of this business have been frozen by the authorities. A total of three residents of The Netherlands have been arrested during the police raid, and they will be arraigned as early as tomorrow.

Police officials also confiscated various computers, drugs, weapons and any type of administrative files that could help build the case against these criminals. The three Dutch people arrested are 19, 20 and 23 years old respectively, all of whom live in the Rotterdam area.  On an international level, one 24-year old man was arrested, whom will be extradited from Malta. The other arrest took place in Latvia, and police officials are questioning this person right now.

It will take some time to fully construct the flow of money going in and out of Bitcoin through the hands of these individuals. Not all of the money sources have been unraveled just yet, nor is it clear how this team of criminals managed to get their hands on such large amounts of Bitcoin. More details will be revealed as the investigation progresses.


If there is one thing the history of Bitcoin has shown us, it is that virtual currency is not a viable tool for illegal activities. Despite Bitcoin’s association with various illegal marketplaces and less-than-legal business deals, all of these schemes have come to an abrupt halt sooner or later. The reason for this is simple: Bitcoin is not an anonymous form of money, as every transaction can be publicly tracked through the blockchain.

This story will have a slightly negative impact on the Bitcoin ecosystem, as mainstream media will continue to feast on anything that puts virtual currency in a negative spotlight. However, it is exactly these mainstream media outlets who are not telling the entire story, as the major culprit isn’t Bitcoin, but fiat currency.

Bitcoin is perfectly traceable and a far cry from anonymous. Fiat currency, on the other hand, is the most anonymous form of money that has ever existed. There is no way to trace paper money or coins at any given time, and fiat currency has been part of drugs, gambling, prostitution or any other illegal activity since the day it was created.

Source:

http://insidebitcoins.com/news/dutch-police-arrests-three-people-in-bitcoin-money-laundering-investigation/35076

Bitcoinist.net  Oct 1, 2015 9:22 AM EDT

Sounds great to me. Need more feed back though.

This is by no means a positive or an inspiring article. I hesitated if I should even post and comment on this. In my mind here is another “pioneer penalty” that should be added to Bitcoin’s long list of pitfalls causing it to stumble time and again, delaying or preventing mass acceptance altogether.

Bitcoin cannot blame the media for lack of coverage. There has been some news coverage about Bitcoin everyday; may be not by network TV, and not always the most complimentary, but none the less, it still helps this nascent industry to become known relatively quickly.

There has not been a shortage of investment poured into Bitcoin ecosystem either. As pointed out, BitPay alone raised $30 million and the industry as a whole have raised well over $1 billion, mostly venture capital (VC) money.  One would think that this is the smart money; since they typically have some of the smartest people on their team going over hundreds of business plans, and do, on average, one deal for every 100 they analyzed and scrutinized. BitPay is indeed the leading Bitcoin payment processor. For that alone, it is very telling that Bitcoin is not ready to go prime time as a medium of exchange and I do not see any plan to help Bitcoin get there.

This was part of my message when I made my presentation at NASDAQ on June 22, 2015 and it still holds true today:

“The Currency:  As the pioneer, Bitcoin has struggled as a currency with countless negative headlines. It is failing to meet the full functions of money. It has been struggling to gain mass acceptance as it has been too volatile as a store of value and medium of exchange. It seems to have settled with a limited purpose as a speculative trading vehicle.”

At DNotes, we believe that meeting the full functions of money, as a unit of account, as a medium of exchange and as a store of value, is critical for DNotes to be successful as the trusted global digital currency for everyone. The “jewel” is in the medium of exchange but achieving mass acceptance to use DNotes as the medium of exchange is one of the biggest challenges in the world of commerce and seriously under estimated. I personally believe that it has to be engineered with a very complex sustainable plan, systematically executed over an extended period of time. It takes a tremendous amount of ingenuity, hard work and tenacity few would care to commit.

DNotes has been doing precisely that by virtual of our growing ecosystem. It is a huge commitment on our part. It has the least short term payoff but absolutely essential for DNotes to be superior to fiat currency without a doubt, in the minds of reasonable people, one day. Most likely, the values and the importance of DNotes ecosystem are not even reflected in the price of DNotes. With mass acceptance, DNotes will become most valuable when the vast majority of the transactions are between two parties with nearly zero transaction cost. At that point nothing else can beat it. Though not obvious, that is the value of DNotes in contrast to other digital currencies, including Bitcoin.

*************************


Leading Bitcoin startup BitPay is cutting costs, suggesting that the currency won’t be catching on soon.
In 2014, a Bitcoin startup called BitPay raised $30 million from investors and was dubbed the “PayPal of Bitcoin” for helping companies such as Microsoft accept payments in the digital currency. But 2015 has been less kind. Last week BitPay made significant layoffs, and earlier in the month it admitted to having $1.8 million in Bitcoins stolen.

The company’s travails neatly demonstrate two problems with Bitcoin as a currency and payment mechanism.

First, no one much wants to pay with Bitcoin and there’s not currently good reason to think that will change. BitPay’s business model was to help merchants take Bitcoin payments—often converting them directly into dollars—and take a cut of transactions. The company has enabled Microsoft, retailer Newegg, and many other companies accept Bitcoin payments.

Unfortunately for BitPay, just about no one gets paid in bitcoins, and for most people there are not clear reasons to bother with the trouble of buying bitcoins just to spend them again. The people with the best incentive to buy stuff with the currency are those who bought it several years ago and are now cashing out their gains after Bitcoin’s rise in value.

BitPay’s CEO Stephen Pair admitted as much in June, when he told BusinessInsider that the company was trying to find another business model. “We keep adding merchants—we’re up to over 60,000 now—but they’re selling to the same pool of Bitcoin early adopters.”

Gavin Andresen, who in 2010 was picked by Bitcoin’s mysterious inventor to lead work on its code, recently told me that he didn’t see that changing soon (see “The Looming Problem That Could Kill Bitcoin”). “Until part of your paycheck is regularly paid in Bitcoin, I’m not sure how it would really go mainstream,” he said.

BitPay’s embarrassing loss of 5,000 Bitcoins worth $1.8 million, revealed in court documentsthis month, highlights another challenge facing both the company and the idea of Bitcoin as a currency. The thief was able to trick BitPay’s CEO into transferring the funds just by sending e-mails from the account of his CFO.

That reflects badly on BitPay’s compliance mechanisms. It also adds to the short but very rich history of spectacular Bitcoin thefts (see “Bitcoin’s Rise Constrained by Heists and Lost Fortunes”). They suggest that the currency’s design is not well suited to being used like conventional digital payment and money tools. Although digital, bitcoins are like cash in that transactions cannot be reversed if something goes wrong. Researcher Nicholas Weaver at the International Computer Science Institute has called that Bitcoin’s “fatal flaw.” Conventional electronic transactions such as credit card charges and bank transfers can all be undone if fraud is detected.

All this presents a big headache for BitPay—and for many other people and companies betting on the idea that Bitcoin would become a widely used payment mechanism. In addition, the Bitcoin community is currently faced with tough decisions about adjusting the cryptocurrency’s design (see “Leaderless Bitcoin Struggles to Make Its Most Crucial Decision”).

The e-mail BitPay’s CEO sent to his staff announcing layoffs last week said that the company needed to “reduce costs” so as to “better align with the pace of growth” in the Bitcoin industry. BitPay may have stumbled for reasons specific to the company. Or we might see other companies start to show the strain as hopes that Bitcoin would quickly gain traction as a currency and payment mechanism prove to be false.

Source:

http://www.technologyreview.com/view/541901/the-troubles-of-bitcoins-paypal-show-why-the-cryptocurrency-is-not-a-good-payment/

Tom Simonite
September 29, 2015

Mark, that is a fairly objective characterization of the financial world and our industry. Structurally, there are many cracks and stress marks all over. We can say with certainty that some will not be able to weather the incoming storms. To be specific and precise is a different ball game. We just don't know but not a bad idea to have an alternative backup plan.

Digital currency will not be the cure all any time soon. It could take decades to gain widespread mass acceptance but could happen a lot sooner if we position ourselves correctly and enough people can recognize the value and joining force with us to gain the network effect sooner than later. 

Your timing on this subject is almost perfect. We will be issuing a press release next week covering this subject and provide a glimpse of our strategic plans going forward.

Here is a small slice of my conceptual draft I submitted for editing: " Yong pointed out that our greatest challenge is dependent on our ability to understand the dynamics of the moving parts that collectively will have the most profound impact on the mass acceptance of digital currency and the countless new ways of doing business enabled by the Blockchain technology.

Subsequently, we must identify the constraints and obstacles confronting our path towards mass acceptance and map out strategies and viable plans to overcome them. Additionally, it is important for us to realize that we are now equipped to confront big global problems with big bold global solutions, not possible before. Being hyperconnected effectively removed proximity and national boundaries that were historical barriers. Online global collaboration a world apart is just as efficient as collaboration with one’s neighbor."

I would like 1 + 2. Be rewarded for sharing and a chance to win a bigger prize.

Our philosophy has always been wanting to promote widespread ownership of DNotes. We are however, often constrained by low liquidity for DNotes, and the the risk of abuse, by use of duplicative registrations. We have always been very generous in rewarding people for their contributions as long as we still have the resources to do it. 

From CryptoMoms:

Quote from: indiamikezulu on Today at 12:38:34 AM
But here's why I popped in. This is what I been waiting for:

"If Glencore loses its investment grade rating as now seems likely, its access to cheap capital will evaporate and it will fail. This matters for several reasons, the most important of which is the company’s unspecified but certainly huge derivatives book which, like AIG’s in 2008, is a serious threat to the leveraged speculating community."

http://www.marketoracle.co.uk/Article52462.html

Quote From Shepherd:

Mark, that is a "Scary Note". Watch for ripple effects in the coming days. I hope there is none, but that might be a little too wishful when there are "over-stressed" signs all over the world.

That was one of our reasons for launching CRISP For Kids. My 7 year old grandson spent a day with me yesterday. When I asked him if he knew what DNotes is. He said, "It's money, Grandpa. You already showed me my savings account. It will be cool if I can use it to buy games at Apple store." I have the feeling that the next generation would ask why do we need cash. With digital currency and a smart phone you are your own bank.

The first laptop computer we designed and manufactured was an Intel 286 with a built power supply, considered cutting edge at that time. All it needed was an external standard power cord. Oh, that was a 16 pound machine with a 4 pounds lead acid battery, in 1989. Kevin, we could a sold you an 8 lb 386SX in 1990 with built-in modem.

We were always ahead of technologies of our time; hardware, software, and material science. Dauphin DTR 2 1/2 lbs 386SX and 486SX windows tablets with removable 80 megabyte hard drive was clearly state of the art of the time.

Technology always evolves. So will digital currency like DNotes. That is the future of money. Don't sell yourself short. The big banks that practically despised the technology a year ago are now committing large sum of money to come up with their version of centralized currency.  

It is cool that we can now quote our own DCEBrief as the link source. However, it is the statement below that caught my attention. Purchase DNotes Over The Counter, has always been on our wish list. Obviously, someone already beat us to it.

There will come a day, when every cash register or point of sales is also a DNotes ATM where DNotes can be purchased. Imagine, how convenient it is when someone paying at the gas station can say “I like $10 worth of DNotes sent to my retirement account.” Under funded retirement, or no retirement at all is a massive global problem. We all need to rethink how we can help ourselves and others by taking little steps on a disciplined and regular bases. Our political leaders should join force with us to encourage creative savings habits.

One would ask why can't we do it now? The answer involves very costly and complicated compliance, reporting, and licensing issues, and every state has different requirements (48 out of 50 states). Just as bad, there is a serious lack of legal guidance.

 

“Taiwan is actually one of the few places in the world Bitcoin can be purchased over the counter.”



Taiwan Could be Seeing a Digital Currency Boom

Executive Brief

The law of unintended consequence could be about to strike the Taiwanese government. At the end of September PayPal, the popular payment service, will prevent Taiwanese residents from sending or receiving funds from other Taiwanese PayPal users, due to recently introduced legislation. The legislation was brought in to better control virtual money flow, and the PayPal situation was just one result of the wording.

However, while most Asian countries including Taiwan continue to warn consumers of the danger of digital currency, Taiwan is actually one of the few places in the world Bitcoin can be purchased over the counter. This, combined with the legislation affecting the traditional fiat based payment services, could result in a rise in digital currency use in the near future.

Read the full story below.

Governments around the world never seem to lose their desire to control the financial system and how people use and move their money. That might not be so problematic if they were at least careful about the implementation of their ideas, but that is not always the case. Recent legislation in Taiwan designed to facilitate digital money transfers through the existing networks between citizens specifically excludes the use of third party processors. Why that exclusion was implemented is not clear; however, the result of that action is very clear indeed: beginning at the end of September, PayPal users in Taiwan will not be able to send money to other Taiwanese PayPal users.

This is so that PayPal itself, the popular payment service, remains compliant with local laws. Taiwanese will still be able to use their PayPal accounts to send money abroad or make international payments, but not to people in their own country. Yes, that does sound like something went horribly wrong during the crafting of that legislation if that is the outcome. Sadly, that is indeed the outcome.

However, while the government of Taiwan – like most governments in Asia - is anything but friendly towards digital currency, focusing on the potential weak links in exchange and wallet providers, Taiwan does remain one of the few places in the world where Bitcoin can be purchased over the counter. In that regard, Taiwanese are better prepared than people in most nations for a potential shift to digital currency. More restrictions on financial movement (PayPal is built within the traditional fiat system after all) may have the unintended consequence of speeding Taiwanese popular acceptance of cryptocurrency.

This seemingly never ending desire to control all aspects of financial movement could very well be the driving force for the widespread adoption of digital currencies as we move forward. While privacy and other benefits have attracted many so far, the need to keep control of our own money is a much more powerful driving force for most people. Could this be the start of the widespread adoption of digital currency many have hoped for?

Source: DCEBrief - http://dcebrief.com/taiwan-could-be-seeing-a-digital-currency-boom/
Sept. 25, 2015

Understood. I do encourage you to post expanded comments. One global digital currency, as a supplement or alternative, for everyone to participate, including nations, is the best option and in the best interest of everyone. We envision that digital currencies will not replace national currencies but supplement them, especial to make the movement and the transfer of money and digital assets of value significantly more efficient and transparent. Additionally, it provides a viable option or alternative for those who strongly believe that the citizens of the world should have the alternative to be in control of their hard earned dollars and not be at risk of loosing them due to unfavorable political decisions.

From a technical standpoint, can Scotland create its digital currency? Absolutely. Is that the best option for the nation? Absolutely, not. I have made several posts on this subject previously and may want to expand on this subject at another time.

It was a long day for me yesterday; driving 2 hours to attend a meeting and  3 1/2 hours to come home. Fortunately, it was a great meeting with one of the top players in Blockchain technology. Quite an impressive young man in areas covering Blockchain technology, strategies and general business issues.

I will be extremely busy the next few days but will check in when I have a chance.

Thanks, Grandmama. The fact of the matter is, a very large number of business owners struggled just to survive and to stay in business, in fear of not being able to find a job if they close down their business. They are also concerned, as often the case, that many family members and friends who worked for them would loose their jobs too.

Credit cards fees, high charge-backs, and very high credit card interest (up to 30%) are significant operating expenses of small businesses. When survival is at stake, with no better options available, no matter how frustrating, one accepts what is available to stay in business.

Small businesses in America and around the world need help in the form of alternatives that offer other form of payment options that are far less costly to conduct business.  DNotes is committed to be that available options. We want to do even more and are genuinely concerned about their underfunded retirement. CRISP For Retirement and CRISP Employee Incentive Benefits are designed for small business owners and their employees. Working with small business owners, including women small business, will soon be our area of focus.

"The World Economic Forum (WEF) has identified blockchain technology as one of its six mega-trends in a new report broadly aimed at outlining the expected transition to a more digital and connected world."

It is certainly interesting, but should not be much of a surprise to us. From my prospective, if the six were ranked by magnitude and world changing implications, it should be the leader of the pack.

Kris, Bitcoin, DNotes or digital currency in general, and the Blockchain technology collectively will be causing a paradigm shift of seismic proportion that will be difficult to ignore.

Free market forces always weed out those who are too slow to response and adapt. The Internet technology revolution should an eye-opener for those who are not so sure what a disruptive technology could do. I trust that Paypal is well aware of that. Like many major banks, they will not just stay on the sideline and watch. They will participate in ways that serve their interest best.

Thanks, Bergman. That is the correct observation. We are committed to being respectful to everyone. That may be one of the trade secrets why DNotes and its communities have been able to accomplish so much in such a short period of time. We are very focused in problem solving and "mind our own business", avoiding the destructive consequences of dramas that have ruined so many other cryptocurrencies.

Paypal, banks, debit and credit card companies are here to stay for a long time. They will be the gateways and conduits in many of our future financial services. We will compete fiercely based on our strengths in certain areas but must cooperate where we can find common grounds and mutual benefits in other areas. Constructive business philosophy is important to business success. We are sincerely committed to represent our industry in the best of light, helping to build much need trust and respect. What is good for our industry will be good for everyone. There has never been a better opportunity for common people with little means to join force in working together for the better good of mankind.