How long will current technologies and ICO will last as viable investment with the introduction of quantum computing which renders all current encryption invalid?

is it worth investing in technology which will subset in 2-3 years?

That's a great question, blockchain provdes for both public (open) chain as well as private (closed) chain, both taking advantage of blockchain technology.

I think there is agreement within the community that in any case, due to evolution of farm groups, the distributed control is more fiction than truth, and even if it was true, the distributed control prohibit innovation and change.

usage is not binary, either use public chain and use it the way bitcoin does or not use it at all, there is a balance which is based on the use case, and this is the balance I am trying to achieve with this post

let move on from distributed and consider working assumption we will use block chain (which does have significant benefits on just using a DB) and move from there

Hello fellow forum members,

I am looking to come up with an approach to replace the entire payment systems in a country with block chain crypto coin.

how would you go about achieving that.

please consider the following:

1. No more volatility than any other coin
2. complete identification of whoever owns coins
3. limited available currency per year
4. no mining, at least not the way it is done today
5. centralized control (central bank)
6. recognized in global economy
7. used for national and international transactions

would love to hear your thought, please do not post if you do not have anything constructive to contribute

Just a quick update, today the translation capability within the solution was complete, we are completing minor issues related to Hierarchies and config replications and work is underway to migrate the mobile solution to nativescript.

from blockchain side, we already automated the creation of wallet to registered users (key pairs) and working on the ICO page

watch this space for upcoming updates

I hope scammers will be eliminated, they are really making the life of the legitimate folks much more difficult

I think the truth is in the middle, from behavior side, it behaves more like a share, a property rather than currency, people appear to speculate and trade it rather than use it mainly as form of payment, I think bitcoins failed to act as currency, I hope that future crypto currencies and the people who use them will help this perception to change.

ICO is similar is some way to IPO or Crowd funding and even VC investment where you get company share, so overall I agree with the Koreans at this time.

Folks, I wanted to hear from the forum on your thinking about private vs. public chain and how the two can seamlessly interact,

please see the following link

https://www.recordskeeper.co/blog/bitcoin-versus-multichain-versus-ethereum/

my team has been working on it for 2 years now, and still working, I am ready to go live in 4 months and ready for ICO in 4 weeks,

you are correct, it is crowded, and you are correct, my project is quite unique

the good news is that most of the heavy lifting is done already

Ido

since I worked on it for 2.5 years now, first release will be in 4 months

Ido

please feel free to shoot me an email on ido.adler@binomical.com and I can provide more details including white paper and perhaps some form of mutual collaboration

got it, where are you located, we can have a quick call to discuss, I am in Pacific time US

Looks like 13 very interesting projects, not sure what is the relevance to my post?

Thanks Trupero,

I am also very excited about it, would love to hear your feedback on the white paper and how would be best to move the ICO forward

sincerely

Ido

yes, I think democracy is the least horrible form of government, but it is not optimized for everything

this is a mobile platform similar to Uber which focuses on all services, it allows user to identify in real time other users which can be used as providers of services, and match them.

I am using multichain as private chain, the payment method for non rated providers is cryptocoins, and for even rated providers must use cryptocoin as a percentage of their services, the cryptocoins for the non rated providers are allocated by the platform, where rated providers will be paid by the intended customer.

some features include, directional bids, rating engine, chat engine, match engine, mobile replication from back end for all text, graphics, logos, payment option to purchase the cryptocoins, cryptocoin are always 20% cheaper than the equivalent service in real currency.

it allows for direct promotions, machine learning and artificial intelligence, it is including a build in chat engine (text, voice and video)
the application settings are configurable for each country, I am using smart filters as JCO for metadata, (smart contracts) and this is just a very small taste of what the application does

if you want more details, contact me directly and we can chat

sincerely

Ido

I see a lot of response here, couple of clarifications are mandatory.

when I say centralized, I do not mean a single node, I mean the management is centralized, similar to private chain, I do not mean we have a single node.
in regards to the point of block chain, we will continue having people who mine or we will have multiple private chain owned by different companies, the point here that the management of the cryptocoin is centralized and managed by a single person or a small group who issued it.

you can attached a coin value to existing currency or commodity, there are countries who did that for many years, and some of these countries are doing very well now, one I believe is the world largest economy

I do not require any mining to discover currencies, the purpose of the miners is to loan computing power to the processing of transactions, they will be paid for their processing, however, the miners work distribution will be controlled and optimized by the centralized management, it will decide how many nodes will handle how many transactions to ensure fault tolerance, and also include high availability, to illustrate,  with a scenario which has 1000 nodes and 1000000 transactions a day, I will find  way to distribute the load to that subset of transactions which is based on some load balancing logic will be handled by each of the nodes, this will optimize resources and still maintain the benefits of blockchain

What I mean about fixed number of block, is that since it is distributed private chain, there is no mining, its like all the coins are premined and distributed based on real work, the total number of coins is determined at the beginning of each period and issued in advance, as I said, miners are paid for their work, not to discover coins but rather to process transactions based on the rules above

Swift and ACH are some of the technologies currently used by banks to send and receive electronic payments between themselves

I can and will get rid of fees, this is because if the coin is attached to a real currency or commodity, I do not require exchange to determine the price, since I am paying the "miners" I do not need to have additional fees built into the currency

In order to retire credit cards and cash, remove banks from the equation and  move completely to cryptocurrency we need to address several key topics.

1. Centralized cryptocoin management, not this >50% crap
2. Allow blockchain to not only be secured and provide disaster recovery and high availability but also be scalable, fast and allow for selected load balancing
3. to stop volatility to attached the currency at least until common and distribution to billion users to common "rea and stablel" currency value
4. remove the concept of exchanges from crypto currency completely and maintain transaction cost to 0 or very close to it (fixed 1 cent for any transaction size sounds good)
5. Issue annual fixed number of currencies per period, depending on macro economics analysis and expected market share
6. retire switt, ACH and any other legacy system rather than find ways to connect to them
7. abolish bank fees and banks overall, we can use central banks to reduce interest rate and change the risk evaluation process, allow integration to accelerate loan decisions to seconds rather than weeks, including home loans,
8. go after insurance next, machine learning and AI will make more informed decisions, based on AI and Machine Learning, centralized management will provide KYC and other critical data to the appropriate governing or compliance bodies

who is with me?

Thanks Justin,

Appreciate the kind offer, however, I am not interested in investing in marketing, I do not need much money and what I do need I believe I can generate without marketing support, just take a little time,

what I understand from marketing companies it that they are a bit like lawyers, they provide the structure but the majority of the work is done by the founder, I much rather save the little I have to true differentiation service, if you are confident my idea is good, as I am, I happy to pay for success even a percentage of ICO, somehow I doubt you will support this approach

thanks much

Ido

that's true, and if you saw the plan I am pretty sure you would agree that's a likely outcome,

pal, I checked your name and it appears you have some haters out there, I am sorry to hear

anyway, would love to have a call or a chat with you on how to make the most out of this place

have a great evening

Ido

I totally agree, you are where all the action is, I do have some ICO projects which are not yet on here, so happy to give you early tour