Thanks for the warm welcome all. One small question, when we shift to POS 2.0 the article states an investment return of 2% PA with the CRISP 2.0. I am wondering if this will be sufficient incentive for long term investment? Or am I missing something? (more likely)
You are always welcome, Variant386. The maximum annual return is around 8% generated from three different sources: 1. Monthly payout of .1666% (2% annual) every 30 days CRISP reward, 2. Approximately 2% (annual) staking reward for supporting our staking network. 3. CRISP reward of 4% paid to CRISP account balance every 365 days. One of DNotes missions is to promote long-term savings. We are making every effort to make it easy and accessible for anyone world to participate. At the same time, we are also committed to build stakeholder value for the long-term. DNotes is uniquely different in many ways. The two CRISP rewards require no action by the user as well. Any amount of DNotes held in a wallet for 30 day or 365 day period will be awarded the CRISP reward. The staking reward will be more variable, depending on the number of people staking at any time, but set with a target of 2% for each user annually. This only requires that you have the wallet running with an internet connection and set to staking. Every block a winner be chosen for the stake reward, and the more coins you are staking the higher your chance of receiving the stake reward. |
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Pretty interesting, it does appear they are targeting the enterprise level applications. Pricing starts at 1,000 monthly per peer and per member. I agree they will have a lot of competition as well. |
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Hi all, Ive been meaning to introduce myself, Tim G knows me, Pete from NZ. Ive been a DNotes hodler for a couple of years or so and it is now by far my largest crypto holding. I really appreciate the project, people and approach. Very much looking forward to the launch of 2.0. I am a video producer by trade but have been closely following crypto since 2013 when I had a little BTC mine going. I am excited about the future for crypto and DNotes!
Welcome Variant386! Thanks for joining us on the forum and appreciate the comments. |
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Just got off the phone with Ken, he is back online and getting squared away. We will have the new github repository uploaded tomorrow and we will be updating daily.
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There are some good points here. I believe our industry should be promoting fair and reasonable regulation that does not inhibit the technology. It's easy to get confused when people talk about "regulating digital currency", I don't believe there is such a thing as regulating a decentralized digital currency itself, but the services provided that allow you to use them is where you need to focus. In an opinion piece published by CNBC today, former CFTC commissioner Bart Chilton suggests that digital currency enthusiasts need to be more active in seeking regulation for their industry if they want Bitcoin to have the “bright” future that many of them envision. In the op-ed, Chilton says that there are two main reasons for the currency’s recurring problems in recent years. His first observation is that “digital currencies like Bitcoin aren’t like stocks.” As Chilton notes, most of these cryptocurrencies have no company assets that give them intrinsic value. As a result, their value is determined solely by what buyers are willing to pay to take ownership of them. The second reason is that they are “largely unregulated by governments. They lack the type of AML and KYC protections that banks are required to provide, and offer few customer safeguards to protect against exchange failure. On the regulatory front, there is no effective surveillance of trading, no authorized investigators, and no punitive legislation to ensure that “bad actors” are deterred from criminal activities. According to Chilton, “This all makes digital currencies exceedingly susceptible to fraud and manipulation. It's an open range for abuse.” To remedy those apparent weaknesses, he suggests that digital currency enthusiasts shouldn’t wait for regulations to be imposed upon the industry. Instead, they should invite “appropriate regulatory oversight” and take the lead on its development. That is likely sound advice, and it comes from a man who has spoken highly of digital currency and the blockchain in the recent past. In 2016, Chilton called for then-President Barack Obama to embrace Bitcoin and its technology to ensure that the US shared in its potential economic benefits. Moreover, Chilton seems to recognize that digitization of money is inevitable. The question is how quickly it occurs, and what form it ultimately takes. This is a really important statement, and should be the catalyst for the cryptocurrency community to establish its own self-regulating body. There are many benefits for industries that self-regulate. And there are plenty of examples and models to base development on. In the USA, the National Association of Realtors, the American Medical Association, in Australia and many other countries the organisation the rates movies and other media is self-regulated. And I think the best example online of successful self regulation is the W3C. Because cryptocurrency is traded internationally, and has little relation to their countries of origin, it is also unlikely that regulation at a national level would be effective, or functionally coordinated between countries. By self-regulating, national governments would be much more likely to accept the burden being lifted from their legislative shoulders, so long as the outcomes ensured consumer safety as effectively as possible. And by removing the motivations and justifications of government interference, the cryptocurrency industry could gain the level of stability and trust that is crucial to its early and efficient success. So I'm openly calling for a consortium to self-organise, invite all the relevant stake holders, model itself on successful self-regulating organisations, establish a standards and certification authority, and let market forces be the ultimate consequence of failing to gain accreditation and comply with their established standards. Then consumers can invest with confidence in projects that meet standards and have attained certification. Or they can knowingly risk their money on projects that failed to gain certification and forego their right to complain about being swindled by their greedy investments. In such an established environment, all that national governments would need to do, is monitor the consortium, and recommend that citizens avoid investing in projects that failed to gain certification by the cryptocurrency certification board. I would like to see DNotes take a responsible position in promoting and guiding the development of such a consortium. Thanks, Tim. I read the article and like it a lot. A self-regulating global association for our industry sounds intriguing. It would be amazing for DNotes to have the honor to the leadership role but that is a huge undertaking. It may make more sense for the current Digital Currency Council to evolve into such an organization: http://www.digitalcurrencycouncil.com/ https://www.digitalcurrencycouncil.com/tag/banking/Yes Alan, I quite agree that taking a leadership role in establishing a self-regulating body would be a huge undertaking. DNotes has it's own mission and it would not be wise to dilute its energy by taking on such responsibility. By a 'responsible position' I was intending something more like a stakeholder or advisory role. I see DNotes as a long term player who genuinely has the best interests of the cryptocurrency industry at heart. When many other voices might want outcomes that favour short-term gains, it is important that the stable players with extensive business experience also get heard. Thanks for providing the links. I see the Digital Currency Council as a great contender for such a role. If not, the people it has attracted are certainly the pool of talent that should be encouraged to move in this direction. I see that they already provide certification services for recognising professional skills. So clearly they have some understanding of the structures required for a self-regulating body. I do hope you bring it up with them. Thanks, Tim. Well said. I believe in focusing like a laser beam on missions and priorities. Right now it's almost all on DNotes. Once DNotes 2.0 is successfully launched, we will begin to expand our software development aggressively. It will take a lot to make the projects on our road-map a reality. We are committed to make DNotes a technology innovation leader in our industry. Always remember that DNotes is more than just a digital currency. It is a purposeful digital currency to help make our world a little better. We must start with a solid foundation and make DNotes accessible to anyone worldwide who wishes to participate, irrespective of financial standing. We believe that, sometimes, leadership is about showing and not about telling. We certainly hope that DNotes is leading by example. Agreed on all points Alan, we will continue to relentlessly pursue the progression of DNotes and tackle each hurdle as they come. I believe that DNotes 2.0 will help in making "DNotes accessible to anyone worldwide who wishes to participate, irrespective of financial standing". |
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The launch of DNotes 2.0 has been delayed. The learning curve has been more demanding than anticipated and the amount of customized C# coding is also more than we anticipated. As much as I am always very conservative in estimating time-line and cost, I have been down this route before. Big complex projects like DNotes 2.0 development often ended up taking longer and costing more; sometime with more problems than expected. Fortunately, in our case, there are no major known problems. A lot of that is because of the inherent challenges in dealing with the unknows. It is even more pronounced in our decentralized open source environment. There are heaps of contributions and work-around but very time consuming to sort through. It is not uncommon to end up with incomplete solutions, with the last most difficult 10% unfinished. I anticipate that it will take a few more months and we will update our community on any significant developments. Meanwhile, our developer will be working with his team and create a git repository on GitHub. DNotes 2.0 is a large-scale project creating a new coin to replace DNotes with a 1:1 coin swap. We are migrating from our current Proof of Work (POW) to Proof of Stake (POS). This is a multi-year project leading to 100% conversion to C#, along with numerous applications to best support our projects as outlined on our road-map: https://bitcointalk.org/index.php?topic=1924858.0 Please share link on git when it will created, what is the approximate time needed for finishing all open tasks? I mean, in October we can see some good results of such work or November? Dnotes will go to POS and in this year Neos also go to POS may be you connecting with Neos developers and try organaze some interesting Affiliate Program if it possible Hi sl-avik, we certainly will. We will be actively working within github and releasing more detailed results as we work, but we will definitely be showing our progress as we go. I'm not too familiar with Neos, I'll have to do a little research. |
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The launch of DNotes 2.0 has been delayed. The learning curve has been more demanding than anticipated and the amount of customized C# coding is also more than we anticipated. As much as I am always very conservative in estimating time-line and cost, I have been down this route before. Big complex projects like DNotes 2.0 development often ended up taking longer and costing more; sometime with more problems than expected. Fortunately, in our case, there are no major known problems. A lot of that is because of the inherent challenges in dealing with the unknows. It is even more pronounced in our decentralized open source environment. There are heaps of contributions and work-around but very time consuming to sort through. It is not uncommon to end up with incomplete solutions, with the last most difficult 10% unfinished. I anticipate that it will take a few more months and we will update our community on any significant developments. Meanwhile, our developer will be working with his team and create a git repository on GitHub. DNotes 2.0 is a large-scale project creating a new coin to replace DNotes with a 1:1 coin swap. We are migrating from our current Proof of Work (POW) to Proof of Stake (POS). This is a multi-year project leading to 100% conversion to C#, along with numerous applications to best support our projects as outlined on our road-map: https://bitcointalk.org/index.php?topic=1924858.0 Thank you for updating the community Alan. It is much better that more time is taken to iron out all of the uncertainties and previous unknowns, than to rush a product to market. Quality should never be sacrificed for the sake of time -- it is one of the four pillars of any successful business, and any successful business needs to consistently score highly across all its capabilities, because any shortcoming can leave space to be beaten by a competitor. Moving to GitHub is an excellent idea to allow people to view what has been going on, and even get started on peer-reviewing the codebase to suggest potential improvements or changes that may arise during the verification phase of testing. It will also reveal to the wider community the quality and diligence behind the project. Thank you TeeGee. "Quality should never be sacrificed for the sake of time -- it is one of the four pillars of any successful business, and any successful business needs to consistently score highly across all its capabilities, because any shortcoming can leave space to be beaten by a competitor." Well said. I trust that when everything is said and done, it will put DNotes in a solid foundation to start a major awareness campaign. Excellent. Thank you for the update. Take all the time you need. Appreciate the support HORT! |
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The launch of DNotes 2.0 has been delayed. The learning curve has been more demanding than anticipated and the amount of customized C# coding is also more than we anticipated. As much as I am always very conservative in estimating time-line and cost, I have been down this route before. Big complex projects like DNotes 2.0 development often ended up taking longer and costing more; sometime with more problems than expected. Fortunately, in our case, there are no major known problems. A lot of that is because of the inherent challenges in dealing with the unknows. It is even more pronounced in our decentralized open source environment. There are heaps of contributions and work-around but very time consuming to sort through. It is not uncommon to end up with incomplete solutions, with the last most difficult 10% unfinished. I anticipate that it will take a few more months and we will update our community on any significant developments. Meanwhile, our developer will be working with his team and create a git repository on GitHub. DNotes 2.0 is a large-scale project creating a new coin to replace DNotes with a 1:1 coin swap. We are migrating from our current Proof of Work (POW) to Proof of Stake (POS). This is a multi-year project leading to 100% conversion to C#, along with numerous applications to best support our projects as outlined on our road-map: https://bitcointalk.org/index.php?topic=1924858.0 We are actively working on DNotes 2.0 and it is taking longer than we expected to complete. To ensure everyone can see the progress of DNotes 2.0 as work on it, we will be uploading the DNotes 2.0 source code to GitHub, and will be actively working on it online. It may take a few days before we can upload the initial code, as our lead programmer Ken for DNotes 2.0 is in the Florida area and experiencing internet problems. In addition we will be releasing screen shots and/or partially functional wallets to review and comments. As soon as we are ready for live testing, we will upload the compiled wallet and invite everyone to work with us to test. We will also be running our internal and independent code testing in parallel with live testing to ensure the new release will be ready. |
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There are some good points here. I believe our industry should be promoting fair and reasonable regulation that does not inhibit the technology. It's easy to get confused when people talk about "regulating digital currency", I don't believe there is such a thing as regulating a decentralized digital currency itself, but the services provided that allow you to use them is where you need to focus. In an opinion piece published by CNBC today, former CFTC commissioner Bart Chilton suggests that digital currency enthusiasts need to be more active in seeking regulation for their industry if they want Bitcoin to have the “bright” future that many of them envision. In the op-ed, Chilton says that there are two main reasons for the currency’s recurring problems in recent years. His first observation is that “digital currencies like Bitcoin aren’t like stocks.” As Chilton notes, most of these cryptocurrencies have no company assets that give them intrinsic value. As a result, their value is determined solely by what buyers are willing to pay to take ownership of them. The second reason is that they are “largely unregulated by governments. They lack the type of AML and KYC protections that banks are required to provide, and offer few customer safeguards to protect against exchange failure. On the regulatory front, there is no effective surveillance of trading, no authorized investigators, and no punitive legislation to ensure that “bad actors” are deterred from criminal activities. According to Chilton, “This all makes digital currencies exceedingly susceptible to fraud and manipulation. It's an open range for abuse.” To remedy those apparent weaknesses, he suggests that digital currency enthusiasts shouldn’t wait for regulations to be imposed upon the industry. Instead, they should invite “appropriate regulatory oversight” and take the lead on its development. That is likely sound advice, and it comes from a man who has spoken highly of digital currency and the blockchain in the recent past. In 2016, Chilton called for then-President Barack Obama to embrace Bitcoin and its technology to ensure that the US shared in its potential economic benefits. Moreover, Chilton seems to recognize that digitization of money is inevitable. The question is how quickly it occurs, and what form it ultimately takes. |
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Looking out for more information about this on the blogs!
Welcome to the DNotes forum ohlili! Thank you for your interest in DNotes. |
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Thank you Denis and Crypto Coins Market for providing well researched and detailed information covering DNotes/DNotes 2.0 on your site.  DNotes – General Info, Best Exchanges and Wallets - https://cryptocoinsmarket.com/dnotes/Wow! Amazing summation of DNotes' vision - what we are doing and why. A recommended must read. Thank you very much, Denis and Crypto Coins Market. I have mentioned on various occasions that we are involved in a Big Bold project of global scale and scope. Reading the article brought home the enormity on the size of our project and what it takes to successfully execute all the different components. But think about, how could we reasonably expect mass acceptance of digital currency on a global basis without a grand plan? In other words, DNotes has a grand plan to succeed by building a different path that is more costly and time consuming. We always believe in doing the right thing at the most opportune time the right way. This will significantly improve of chances of succeeding in a big scale. Agreed, amazing! That must have taken a great deal of research and effort. We appreciate it and will share it among our social media. |
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Thanks, TwoCorn. I am very happy for you. I trust that you will find it helpful and inspirational. Feel free to ask any questions. Excellent TwoCorn! I too am very happy for you. We appreciate your support and look forward to hearing your feedback. |
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New additions to the Four Pillars membership site The videos will be available to watch via the links below for a short period of time, after that they will only be accessible from the membership site. Chapter 3 Understanding the
System Approach to Business Design How
Competition
Can Affect...
| Your Team
and the
System Approach
| Mission
Focused
Culture
| System
Approach to
Management
|
I've just watched and enjoyed all five of these video productions. They all work together to deliver a very important message and I really believe that if more businesses followed this advice, they would have a much greater chance of success. Except for the fact that with them all following it, the competition will have just become much stronger. But even this is a good thing, because society always benefits when less effort is wasted. Thinking with a systems mindset is not an easy thing to do and doesn't come naturally to many people. We tend to think in metaphors and need some visual way of conceptualising our thoughts. Business systems are often complex and don't lend themselves easily to visualisation. There are a lot of tools out there to assist with different aspects of them. I like flow charts, and business process mapping. But all such tools find it hard to incorporate the flow of resources and information into, through, and out of the whole system. Then trying to map over that the interactions of the staff at a more abstract and emotional level, becomes very difficult even though these interactions can have a powerful impact on success. I also like how the videos all have a consistent look and style to them. It says to me that the important thing in the video is the valuable information being delivered. And recognises that anything else, might make it look fancier, but would ultimately become a distraction from the core message. So there have been some effective decisions made with this around its production format and delivery. Well done. Thank you, Tim. Good to know that you like it. This is a big project with almost two years in the making and quite costly to me personally – both in terms of time and money. One would wonder why I made such a huge commitment. To begin with, my book “Improve Your Odds – The Four Pillars of Business Success” https://fourpillarsofbusinesssuccess.com/ is one of the major building blocks of DNotes and DNotes Global, Inc. The book practically serves as a blue print for DNotes, and everything that we are involved in to follow. It also established our brand, mindset, and culture – critical guidelines for collaborations and partnership. They are the guiding principles for business success. And, Chapter 15 is about our industry, technology, and the DNotes story – a great way to introduce digital currency and DNotes to our readers. Additionally, I am always deeply troubled by the high rate of business failures – 8 out of 10 businesses failed within ten years. Business failure is painful, costly, and emotionally distressful; often affecting not just the failed business owners but also family members, friends, and others. I am very committed to make a positive contribution to improve the chances of success. There will always be the unknowns and uncontrollable that contribute 5% to 10% of business failures. Recognizing that no one is perfect, I strongly believe that any business that I am passionately involved in will have an 80% chance of succeeding. That is quite an improvement from the 20%. I trust that any true entrepreneur who follows my teachings religiously will greatly improve their odds of succeeding. Over 40,000 businesses in the United States failed each month. Even an improvement of a few percentage points will make a significant difference. By the time my book video production is completed – by the end of this year – I would have produced 70+ videos with bullet points, full transcripts, and the book itself. I am not aware of anything close to this scale has been done. Correct me if I am wrong. The book is available for purchase on Amazon and other outlets as an E-book, paper-back, or hard-cover. The videos with bullet points and full transcripts are available for viewing at your convenience for free till the end of 2019. All you need to do is sign up as a member HERE: https://fourpillarsofbusinesssuccess.com/register/free-membership/I have granted DNotes Global, Inc. 100% royalty free for all revenue deriving from the book. So, why is this book project important to DNotes stakeholders? I love to have your comments, including those who have already read my book. Thanks. Thanks TimMarsh and TeeGee, appreciate your comments! I can say, though I may have a slightly biased opinion, from working with Alan through the years and my own contributions to four pillars... I don't believe there is any self help business content available at this level of raw insight and direction, while also placing the focus on exactly what you need to know. This can have a large impact on ones business and entrepreneurial outlook of running and starting a business. This is not a college course (though that may be helpful), this is not a story just designed to sell books or a single or just a couple lessons learned (again, still helpful), this is advice from someone who has walked the walk, has the experience, and truly wants to help people be more successful in business. It is an all inclusive business framework and strategy for success. The add-on video series dives more in depth into the individual lessons that tie into the overarching concept. I am very excited to see it completed. |
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New additions to the Four Pillars membership site The videos will be available to watch via the links below for a short period of time, after that they will only be accessible from the membership site. Chapter 3 Understanding the
System Approach to Business Design How
Competition
Can Affect...
| Your Team
and the
System Approach
| Mission
Focused
Culture
| System
Approach to
Management
|
|
|
|
|
Are you saying TeeGee, that wealthy Chinese might currently consider Bitcoin and cryptocurrencies a safe harbour or logical partial hedge against possible devaluation of the Chinese Yuan? I find it really curious that Bitcoin responds to financial markets so independently of fiat currency, and behaves more like precious metals or real estate than stocks or bonds.
I understand China being concerned that savings may be going elsewhere instead of into their banks if they're carrying $40 trillion in debt. But with bitcoin having a market cap of $66 billion. Even if Chinese investors diverted their money into bitcoin at its current price, it would be less than 0.16% of their carried debt. A literal one and a half millilitre drop in a litre bucket.
Bitcoin is beginning to be seen by many as worth taking a trading risk on in the face of market uncertainty. In the west negative economic news often correlates to bull runs in the price of gold and Bitcoin. In China it works a little differently because the PBOC peg the price of the Chinese Yuan (CNY) to the US dollar at a rate that is beneficial to their exporters, which means frequent devaluations that reduce the 'world value' of the wealth held by Chinese savers. This makes devaluations more predictable -- each time the Yuan becomes stronger relative to its neighbours, Chinese companies become less profitable, and they devalue again. The problem for China would actually be much more significant than you calculated - because it is the precious savings, or the 2 trillion in "equity" supporting the loan system that is being invested into Bitcoin. China claims this number is 3 trillion, which happens to be the IMF minimum reserve adequacy. If you look at a 20/1 debt to equity ratio, the problem compounds at 20x what you calculated if savings are withdrawn to purchase BTC, and the new owner of the Yuan (CNY) does not put them back into bank saving accounts (potentially 40x if you want to compare to the liquid reserves). If people borrow to buy Bitcoin, it puts additional strain on the system because it is supported by such little equity, but only a fraction as much as savings exiting the banking system. It would mean that extra pressure is placed on the Chinese financial system, just to support Bitcoin's growth, which in turn creates even larger demand to borrow and place increased pressure on the system again. One interesting question is why 'savers' buying bitcoin should matter much, given that if Yuan are swapped for BTC, the Yuan are still "in China", and are likely to just be put straight back into the bank (or never even leave the bank if the transfer is internal i.e. bank to bank). Thanks TeeGee. The liquid ratio makes a lot more sense to me and I can see how that would have an impact. As for money transfers between bitcoin buyers, Chinese exchanges, and banks, I find it hard to make sense of. I imagine a Chinese bitcoin buyer buys a bitcoin for 25,600 CNY, then the exchange hands over 1 BTC and puts 25,600 CNY in their bank. Then a year later, the Chinese investor buys 50,600 CNY with the same inflated bitcoin, where does the exchange get the extra 25,000 CNY from? I've never understood this. It comes from the funds of other investors who have deposited money at the exchange's bank account. So another investor has fronted the additional 25,000 CNY, by depositing 50,600 CNY to purchase the original investors 1 BTC that they paid 25,600 for. This is because exchanges have buyers and sellers. The buyers have CNY, and the sellers have Bitcoin (at the exchange in both cases). The exchange will only ever have as many CNY in their account as users deposit there, except that amount can stay constant, and the price of BTC could increase. 1 btc at the exchange, and 25,600 CNY *Bitcoin price nearly doubles* 0.5 btc withdrawn for 50,600 CNY. There is 0.5 btc left on the exchange with no buyers. It is the rate that has changed, but that doesn't mean that all of the BTC can be sold at that rate. For the extra BTC to be sold, more people need to deposit money at the exchange. The exchange in this case just facilitates trades between buyers and sellers, and takes a fee for each exchange. If you want to buy a bitcoin, and agree to the price of the seller, you would have to deposit that amount. Some exchanges operate their own reserves, in which they buy and sell from, in which case they have to manage their own risk of price fluctuations. |
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Thank you very much to Steve and the team at Vments for working with me on the interview.
Vments have a lot of fascinating content and product offerings listed at their website that have a high degree of potential to facilitate collaboration between Vments and DNotes in the future -- especially given our plan to integrate the frictionless means to convert DNotes or other crypto to merchant POS spending via fiat conversion. I could personally see the Vments ecosystem benefiting the DNotes multi-currency card and banking network in the following way, as I will outline one potential use case below.
Spending of cryptocurrency using the DNotes multi-currency *debit* card could trigger the following process:
Any crypto converted into DNotes via DNotes' decentralized exchange >
DNotes are converted into fiat through our regulated exchange (fiat gateway) >
USD transfer from the fiat gateway exchange into the DNotes bank >
Forwarding of funds from DNotes bank to partner bank accounts (nostro accounts)> (particular benefit here)
Forwarding of payment to local merchant that multi-currency card is used to make purchase of goods or services.
The process above would be designed to be seamless and near-instant, and Vments work in the area of inter-bank payment flows could massively benefit some of these processes - namely, inter-bank money flows in different countries. This could allow debits to be made from checking accounts with instant movement of funds across the entire process, rather than current 'credits' being made in lieu of physical money transfer as is the case with credit card systems today. This would allow users to avoid a lot of the fees common with credit card systems. Currently some projects allow for integration with the visa network to spend cryptocurrencies, the above model is different in that it brings the 'authentication', 'liquidity provider' / 'exchange' and 'banking' network under the same roof as the operators of the currency & card issuer, which means they can be more tightly integrated with more cost effective revenue models.
This is just an example of how such collaboration could work. There are many others.
Tim, that was an excellent interview. Steve has very high regards for DNotes and has been following us for quite a while. I have spoken to him and very impressed with what Vments has to offer. Although some collaborations in the future is very possible, we need to be mindful that anything to do with banking these days will that a long time to jump through a lot of legal hurdles. Especially because of the current market conditions, we will that our time to seek out the best opportunities and do things right. I agree with Alan that this is definitely one to watch, while taking careful, sure steps as the ground beneath cryptocurrencies becomes more solid and predictable. And I'm really glad that DNotes has such talent, including TeeGee to make sense of all of those buzz words used in the article. To me, the meanings of a lot of the terms were unfamiliar, but not entirely vague. But what really caught my attention was, "At the core of the technology is Virtual Fiat Money (VFM) which flows through account types CommunityVcash and CommunityVcredit established by participating financial institutions in their local base currency."I assumed that both of these were a permissioned blockchain cryptocurrency that is pegged to a particular currency. I then imagined it was used to symbolise a transfer of value in some way, but I really would like to know more about it. Like does this virtual fiat currency have a tag in the transaction saying which currency it is pegged to and the peg value? Do they actually buy the virtual fiat from Vments at the pegged currency rate and the Vments sell this back to the receiver as a different fiat currency according to the predetermined pegged value? So much to think about, so I hope there is a follow up article with more concrete details once that information is ready for public disclosure. And again I wonder if this DNotes thread might be the most broadly informative thread on bitcointalk.org. Thanks, Tim. Vments platform is a private and permissioned blockchain functional ecosystem and network of financial institutions. I sometime see the decentralized world and the centralized world as two extremely ends of the spectrum. Neither one is perfect but each has massive potential. A bridge that can negotiate the gap in a well balanced manner can reap great rewards. That is what DNotes Global, Inc. is destined to become. It will take time and many great strategic moves, collaborations, and partnership. Vments can enable peer to peer settlement with a merchant or vendor using its VFM (virtual fiat money) using an account denominated in DNotes (or any cryptocurrency) where the card/account issuers settle with the customer in the cryptocurrency and the fiat currency of the transaction is similar to current credit/debit card trans for a foreign currency transaction. The card/account issuer would have to acquired VFM of the currency they need to send to the merchant/vendor, but then collect in crypto from the card/account holder. The merchant/vendor can then redeem the VFM to their bank account, reuse it for other transactions, or exchange it for some other fiat or crypto currency. If the merchant/vendor is willing to accept the crypto, then the conversion to VFM is not necessary and they can either reuse the crypto or exchange it for some other fiat or crypto currency. The VFM would be minted by the bank that the card/account issuer uses for the settlement, including where the bank could be the card/account issuer and handle all of the applicable compliance that our software would help comply with. Steven, thanks for joining joining us on the DNotes forum. We are looking forward to explore how our platforms can work together and strategic partnerships in the future. |
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wallet is so slow, or im doing something wrong?
Hi erv, it takes a while to download and update the blockchain. How many connections do you have? well, 4 :s Edit: 6 That should be enough. Will take a while to update initially. |
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wallet is so slow, or im doing something wrong?
Hi erv, it takes a while to download and update the blockchain. How many connections do you have? |
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