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TeeGee
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July 20, 2017, 11:02:10 PM |
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Thanks for all the info on DNotes. I'm quite interested in learning more on the progress within the company on this coin.
Could you tell me why there's been no updates to the (public) wallet since 2015? Just other focuses?
Also, is there a roadmap somewhere that I missed?
Hello Zecon, welcome to the forum! With DNotes 2.0, there will be a new public wallet released with an array of new features and room for further expansion. You can expect this in September. As to the roadmap, there is an infographic on the first page of this thread that you can view: https://bitcointalk.org/index.php?topic=1924858.0We also have many YouTube videos at our channel - I'll direct you to the promotional video within it for DNotes 2.0: https://www.youtube.com/watch?v=bnkUL0vhpjQ |
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Dyna
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July 21, 2017, 04:16:39 AM |
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Thanks for all the info on DNotes. I'm quite interested in learning more on the progress within the company on this coin.
Could you tell me why there's been no updates to the (public) wallet since 2015? Just other focuses?
Also, is there a roadmap somewhere that I missed?
Hello Zecon, welcome to the forum! With DNotes 2.0, there will be a new public wallet released with an array of new features and room for further expansion. You can expect this in September. As to the roadmap, there is an infographic on the first page of this thread that you can view: https://bitcointalk.org/index.php?topic=1924858.0We also have many YouTube videos at our channel - I'll direct you to the promotional video within it for DNotes 2.0: https://www.youtube.com/watch?v=bnkUL0vhpjQ Welcome to DNotes, Zecon. You are correct, there has not been any technology upgrades of significance since DNotes was launched on February 18, 2014. If we can claim any credit, it is that DNotes has practically no technical support issues in our history. A few very minor issues were immediately attended to and resolved. Yes, by choice we have been focusing our resources in building an ecosystem that we believe is imperative in gaining mass acceptance of DNotes in global commerce one day. We strongly believe that right timing is one of the major contributors to business success: https://www.youtube.com/watch?v=XxWMpoqq68c&feature=youtu.beHaving waited for the right time allowed us to identify critical problems and the opportunity to think through the most effective solutions as the technology evolves. DNotes 2.0 will signal that DNotes is a thought leader firmly committed to be a technology leader in our industry. |
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Dyna
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July 21, 2017, 04:53:51 AM |
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A weekend conversation comparing notes on the wastefulness and sense of entitlement of government employees, peaked my curiosity. Surely this group, with the strongest union, cushy pensions, paid time off for their dog's birthday (slight exaggeration), able to retire as early as 55 with a fully indexed defined-benefit pension (paid for by the taxpayer who has to work until they die), must be the worst offender. Everyone in the conversation had previous experience working for the government, and a recurring theme kept emerging: The total lack of respect government employees have for their employer's time and property, and not by just a few employees, but in some instances a good portion of them. "Who cares, the government is paying for this" was heard constantly, without a single thought as to who pays for the government. I remember the first time I worked through my lunch hour to meet a deadline, and was treated as if I had committed some unconscionable crime. It's an environment that can bring everyone down to the lowest common denominator after a while. My experience was before social media began ruling the brains of the people, so I assume that perhaps things are even worse now. I found some interesting facts on a couple of infographics relating to time wasted at work that includes all workers, not just government employees: - Businesses have a 40% productivity loss from non-work Internet related surfing
- 31.2% of workers feel that it is appropriate to surf non-work related sites everyday
- More than 70% admit to checking their personal emails at work
- Facebook is the most blacklisted website at work
- 34% - 48% of time wasted at work is spent online (web surfing, social media, shopping)
- 33% - 43% of time wasted at work is spent talking/socializing with co-workers
- Time wasted also included conducting personal business, long lunch breaks, personal calls, texting, etc...
Here's the kicker - 60% of workers think surfing the web increases productivity! And, I was right... The government tops the list with 25% of all employees wasting time at work, although it is likely substantially higher if they think surfing the web on your employer's time & dime isn't wasteful. https://biz30.timedoctor.com/infograph-wasted-time/ http://www.designinfographics.com/infographics-images/wasting-time-at-work.png  Employees can make or break a business. They are so critical to its success, they make up one of the 4 pillars in Alan's book, The Four Pillars of Business Success. Just a reminder that membership to the website is free until December, 2019 - https://fourpillarsofbusinesssuccess.com/. Thanks, Chase. Unfortunately, unproductive government employee problem is a worldwide problem. I remember my first job being a government employee. There was no urgency to get anything done. I lasted one year. Looking back, like the corporate world, leadership and management create "bad employee". Technically, everyone is out to hire the best employees. I have never seen a job wanted advertisement that says "Bad Employee Wanted". So what happened? Why is it that 80% of business startups failed in the first 10 Years? Yes, creating a culture to groom bad employees is a major contributors to business failures and government wasteful conducts. That should be a concern to all of us. It certainly motivated me to write my book: https://fourpillarsofbusinesssuccess.com/ |
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TimMarsh
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July 21, 2017, 10:32:42 AM |
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A weekend conversation comparing notes on the wastefulness and sense of entitlement of government employees, peaked my curiosity. Surely this group, with the strongest union, cushy pensions, paid time off for their dog's birthday (slight exaggeration), able to retire as early as 55 with a fully indexed defined-benefit pension (paid for by the taxpayer who has to work until they die), must be the worst offender. [...] Employees can make or break a business. They are so critical to its success, they make up one of the 4 pillars in Alan's book, The Four Pillars of Business Success. Just a reminder that membership to the website is free until December, 2019 - https://fourpillarsofbusinesssuccess.com/. I understand what you're saying. I've worked in government in Australia, and learnt an incredible amount about management and how [not] to run a business. There are two things at play here and they are related. Firstly, in government success is optional. If a department fails to produce or goes over budget, it does not get eaten up by the competition or go bankrupt. This enables bad management to thrive, and employees don't have a connection between failing to contribute to success and losing their job when the business collapses. The rest of it I'll quite happily lay on the shoulders of bad management. From the top down, I've seen budgets set for departments based not on what it costs to achieve an outcome, but on how much they spent last year. When times are good, departments that go over budget are rewarded with a budget increase. When times are bad, all budgets are given a 20% squeeze regardless of current efficiency. This solution is preferred because they lacked the skill or motivation to effectively audit and analyse a department's performance and expenses. I've also learned that motivating staff is not hard. A friend once told me that you have to beat someone's willingness to work out of them with a stick, and if you don't keep at it, it will creep back in again. I laughed, he was funny. Then as my years of employment rolled by I came to see it was also true. People want to work and they enjoy it. Being bored and idle are emotionally painful experiences. Then, as I managed people in many different environments, I arrived at a simple formula. 1) Make sure the staff have the skills, tools, and information they need to get the job done well. 2) Make sure they understand what needs doing, and why, if they are that sort of person. 3) Let them know what is to be done once they've finished what they're on. Letting them see that it is ready to go and waiting for them can really help here too. 4) Never ever make them undo their work. Even if it was their fault. And a bonus tip; at the end of the day, finish them off before they've completed what they're on. When they come back in, they'll know exactly where they were and want to get started. Once they've done that, they're moving and motivated so it is easy to maintain momentum. What I've seen in government is a failure of many of those points at once. But the worst thing I've ever seen in government is a strict ban on anybody but official PR staff talking to the media. This is an outrage. The people own their government and have a right to any information they can get about it. The public are the ultimate owners of the government operations, and banning staff from talking to the media is like middle management banning employees from talking to the owner. And it was in this climate of secrecy that I saw the worst decisions being made. So there are plenty of reasons for inefficiency and waste. But the current trend towards privatisation is also a lazy and ineffectual solution. And when the service being privatised depends on massive amounts of infrastructure, like a national railway, or is something that doesn't enable competition like water supply, it is doomed to fail and cost the public more than the previous government operation. The solution is simple. Training and systems. Train management to be effective, and establish and share systems that monitor and improve efficiency and effectiveness. Of course, some managers are beyond training and need to be moved on. The difficulties involved in getting rid of top level public servants is a whole other issue. |
Cryptocurrencies will level the playing field. I'm paid to write, but not paid to promote.
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DNotes (OP)
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July 21, 2017, 02:26:58 PM |
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Question from the DNotes board on InvestorHub:
"How does one go about making an investment? I have a friend that says a very small group of individuals around the world are getting involved and recently had quite a pow wow."
[...]
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NOTE: This is getting to be a very popular question - Do we have an easy to understand, standardized answer anywhere that I have forgotten about?
Thanks Chase! That is a good point as well. We should have an end to end article outlining the process to make it very clear. I know my first suggestion regarding teaching people how to buy DNotes was focused on a future where you had an exchange, but I think the solution is even more important currently because more steps are involved. [...]
With this in mind I would suggest a highly structured introduction with a focus on not wasting the customer's time. We've seen software 'wizards' used for more than a decade to step people through a complex process. This wizard should not stop at the investment point, but go all the way through to a withdrawal.
[...]
Then, once this has been developed, set up in a public space, hire a stall in the shopping centre, and pay some people $5 to invest $5 in DNotes. Watch over their shoulder and note down all of their question and complaints. Re-build your wizard based on what you learn and do it all again.
[...]
I would recommend that this wizard include hyperlinks not just to the exchanges, but to elements with in them, so that the user could click on ' create account with Coinbase' and then once they have done that while referring to the marked-up screenshots in the wizard, go back to their wizard and click on the next link, ' buy $5 worth of Bitcoin on Coinbase'. So they never feel like you've left them in the woods in some other website. I like the wizard idea. Thinking through a little more, perhaps a document linear list of tasks, with a link to individual walkthroughs (or expanded). The walkthroughs could be wizards or videos or just instructions and screen shots. This will allow them to see the whole process while getting more details only about the ones they need help with. |
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TimMarsh
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July 22, 2017, 07:35:23 AM |
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I would recommend that this wizard include hyperlinks not just to the exchanges, but to elements with in them, so that the user could click on 'create account with Coinbase' and then once they have done that while referring to the marked-up screenshots in the wizard, go back to their wizard and click on the next link, 'buy $5 worth of Bitcoin on Coinbase'. So they never feel like you've left them in the woods in some other website.
I like the wizard idea. Thinking through a little more, perhaps a document linear list of tasks, with a link to individual walkthroughs (or expanded). The walkthroughs could be wizards or videos or just instructions and screen shots. This will allow them to see the whole process while getting more details only about the ones they need help with.  Confusion can feel a lot like fear, and when someone is trying something new, it is likely to cause them to give up. To avoid this feeling, it is important that the user can manage the whole process from one familiar screen, that they can see where they are up to, and that by using cookies you can return them to where they were if they come back to it another day. The 'screenshot' I've posted above has a tick box next to the current process. Once the user ticks this, the box on the left will reflect their achievement and progress. Using the three column approach you can deliver a massive amount of information without it feeling overwhelming. They can also see how far they have progressed and explore future steps without losing where they are up to. I would recommend that the items on the right work as popup overlays on the current window, and all other hyperlinks open in a new tab. This will make it feel stable by not jumping the user through too many websites. I would also recommend short definitions for bold text working as hover-text. The screenshots on the right should be marked-up with step numbers so they never feel confused even when in a foreign website. I think it would also help if before they began the wizard, the user was told how much it is likely to cost them, broken down into stages. So it includes all the fees from putting $5 in as DNotes, and then getting it put back as fiat currency into their bank account. If typical ranges are required, use that. |
Cryptocurrencies will level the playing field. I'm paid to write, but not paid to promote.
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Dyna
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July 22, 2017, 01:15:43 PM |
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I would recommend that this wizard include hyperlinks not just to the exchanges, but to elements with in them, so that the user could click on 'create account with Coinbase' and then once they have done that while referring to the marked-up screenshots in the wizard, go back to their wizard and click on the next link, 'buy $5 worth of Bitcoin on Coinbase'. So they never feel like you've left them in the woods in some other website.
I like the wizard idea. Thinking through a little more, perhaps a document linear list of tasks, with a link to individual walkthroughs (or expanded). The walkthroughs could be wizards or videos or just instructions and screen shots. This will allow them to see the whole process while getting more details only about the ones they need help with. Confusion can feel a lot like fear, and when someone is trying something new, it is likely to cause them to give up. To avoid this feeling, it is important that the user can manage the whole process from one familiar screen, that they can see where they are up to, and that by using cookies you can return them to where they were if they come back to it another day. The 'screenshot' I've posted above has a tick box next to the current process. Once the user ticks this, the box on the left will reflect their achievement and progress. Using the three column approach you can deliver a massive amount of information without it feeling overwhelming. They can also see how far they have progressed and explore future steps without losing where they are up to. I would recommend that the items on the right work as popup overlays on the current window, and all other hyperlinks open in a new tab. This will make it feel stable by not jumping the user through too many websites. I would also recommend short definitions for bold text working as hover-text. The screenshots on the right should be marked-up with step numbers so they never feel confused even when in a foreign website. I think it would also help if before they began the wizard, the user was told how much it is likely to cost them, broken down into stages. So it includes all the fees from putting $5 in as DNotes, and then getting it put back as fiat currency into their bank account. If typical ranges are required, use that. Thank you, TimMarsh. I am always impressed by your amazing thought process. Always quality research with great recommendations. Our training conference in Coldwater, Michigan officially ended today after 90 days of long hours, deep discussion, planning and execution, video production, and much more. We are confident that DNotes will be elevated to the next higher level soon. DNotes is a digital currency with a purpose. We are very committed to our missions. TeeGee and I will be heading back to Chicago shortly with a busy schedule to follow. Thank you all for your support. |
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DNotes (OP)
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July 22, 2017, 06:23:15 PM |
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I would recommend that this wizard include hyperlinks not just to the exchanges, but to elements with in them, so that the user could click on 'create account with Coinbase' and then once they have done that while referring to the marked-up screenshots in the wizard, go back to their wizard and click on the next link, 'buy $5 worth of Bitcoin on Coinbase'. So they never feel like you've left them in the woods in some other website.
I like the wizard idea. Thinking through a little more, perhaps a document linear list of tasks, with a link to individual walkthroughs (or expanded). The walkthroughs could be wizards or videos or just instructions and screen shots. This will allow them to see the whole process while getting more details only about the ones they need help with. Confusion can feel a lot like fear, and when someone is trying something new, it is likely to cause them to give up. To avoid this feeling, it is important that the user can manage the whole process from one familiar screen, that they can see where they are up to, and that by using cookies you can return them to where they were if they come back to it another day. The 'screenshot' I've posted above has a tick box next to the current process. Once the user ticks this, the box on the left will reflect their achievement and progress. Using the three column approach you can deliver a massive amount of information without it feeling overwhelming. They can also see how far they have progressed and explore future steps without losing where they are up to. I would recommend that the items on the right work as popup overlays on the current window, and all other hyperlinks open in a new tab. This will make it feel stable by not jumping the user through too many websites. I would also recommend short definitions for bold text working as hover-text. The screenshots on the right should be marked-up with step numbers so they never feel confused even when in a foreign website. I think it would also help if before they began the wizard, the user was told how much it is likely to cost them, broken down into stages. So it includes all the fees from putting $5 in as DNotes, and then getting it put back as fiat currency into their bank account. If typical ranges are required, use that. Thank you, TimMarsh. I am always impressed by your amazing thought process. Always quality research with great recommendations. Our training conference in Coldwater, Michigan officially ended today after 90 days of long hours, deep discussion, planning and execution, video production, and much more. We are confident that DNotes will be elevated to the next higher level soon. DNotes is a digital currency with a purpose. We are very committed to our missions. TeeGee and I will be heading back to Chicago shortly with a busy schedule to follow. Thank you all for your support. Nicely done TimMarsh! Intuitive layout. We will assume Coinbase/PoloniEX, at least for the first iteration. There are other options available, but in the US these are the two most likely choices. We can also focus on strictly purchasing DNotes and storing them at the DNotesVault. Is anyone interested in working on any of this for a bounty? -Go through the entire process and document all the steps. Including screen shots (with blank forms, or blacked out personal information). -Create a document, organize the instructions, create a title for each major step (Examples: "Create Coinbase Account", "Verify Your Identity", "Link Back Account", "Deposit Funds"). -Write the instructions, include screen shots for each step. -Take the document and turn each step into individual instructional videos. |
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DNotesEDU
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July 22, 2017, 06:45:40 PM |
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Cryptocurrency is in Dire Need of Appropriate Exchange Regulationhttp://dnotesedu.com/2017/07/cryptocurrency-dire-need-appropriate-exchange-regulation/Cryptocurrency has a huge problem that has netted investors well over a billion dollars in losses, and that is lack of accountability among exchanges. There has been countless exchanges cease operations and flee with customer funds, as well as more elaborate schemes. Since exchanges are such a vital component to the interchangeability of cryptocurrency, it’s important that we have some oversight to prevent exchanges from engaging in questionable or illegal practices, which can have a serious impact on the investments we are trying to protect. The content of this article aims to touch on some of the important topics which need to be addressed if we expect smart regulation to protect the consumer, rather than burdensome regulation that will stifle growth and innovation. Read More
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DNotes (OP)
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July 23, 2017, 03:18:30 PM |
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Cryptocurrency is in Dire Need of Appropriate Exchange Regulationhttp://dnotesedu.com/2017/07/cryptocurrency-dire-need-appropriate-exchange-regulation/Cryptocurrency has a huge problem that has netted investors well over a billion dollars in losses, and that is lack of accountability among exchanges. There has been countless exchanges cease operations and flee with customer funds, as well as more elaborate schemes. Since exchanges are such a vital component to the interchangeability of cryptocurrency, it’s important that we have some oversight to prevent exchanges from engaging in questionable or illegal practices, which can have a serious impact on the investments we are trying to protect. The content of this article aims to touch on some of the important topics which need to be addressed if we expect smart regulation to protect the consumer, rather than burdensome regulation that will stifle growth and innovation. Read More Excellent article. " The content of this article aims to touch on some of the important topics which need to be addressed if we expect smart regulation to protect the consumer, rather than burdensome regulation that will stifle growth and innovation." Regulation is inevitable, and uncertainty in future regulation may be just as stifling as over regulation. Smart regulation should be clear in its intention to help and protect people. It will be critical to protect people from those who would do them harm intentionally and help reduce the chances of accidental harm, without impeding peoples freedom to take risk and without creating an environment where only some can benefit from this amazing new industry. |
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Dyna
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July 24, 2017, 02:14:24 AM |
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It is sad to see the poor people of Venezuela going through such hardship. Bad political leadership and foolish political agendas have profound consequences and, in the end, the citizens paid a horrendous price for such injurious behavior. Additionally, if creating money out of thin air is not bad enough assign a value that is substantially higher in worth than what the free market is willing to exchange for - "That’s creating an illusion for foreigners observing the country’s stock market, which appears to be valued at $2.57 trillion -- bigger than Germany’s, France’s, India’s or Canada’s -- but is worth only $3 billion based on the black-market rate." Unfortunately, we live in a world full of "illusion", including our very own crypto-world. Be cautious when investing in the digital currency space. It pays to do your home-work. Research it well and verify claims that sound too good to be true. Losing one's live savings to bad political leadership, failed projects, or out-right scams are all just as bad to one's financial health. |
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TimMarsh
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July 24, 2017, 04:55:02 AM |
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It is sad to see the poor people of Venezuela going through such hardship. Bad political leadership and foolish political agendas have profound consequences and, in the end, the citizens paid a horrendous price for such injurious behavior.
I just hope that the poor people with loans were on fixed interest rates. US$40 posted in for doing some online work overseas, an exchange in the back of bar, and then go pay the loan off. I can't begin to imagine how this is all being managed on a practical level. If you're running any sort of import or export business, it would be a real nightmare. Businesses often have long invoice payment periods, like 30 days at end of month. So you import a box of widgets from Brazil for 1,000 bolivar, wait a month, then sell the box to Argentina for 2,000 bolivar, then pay your invoice. And with official exchange rates so completely out of touch, it makes everything much worse, while encouraging a huge currency black market. I imagine the world transition to cryptocurrency will continue it's slow and steady pace for a while yet. But once adoption rates pass a critical mass, there will be a tipping point. This is likely to continue to be a gradual process, but it may also happen very quickly. If the big banks and finance industries predict that all fiat currency will be worthless in less than a decade, they will all get out as fast as they can, because every day's delay costs them money in a market that has no hope of recovery. If the tipping point goes this way, we'll all be turning to the history of Venezuela and similar events for guidance. |
Cryptocurrencies will level the playing field. I'm paid to write, but not paid to promote.
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Dyna
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July 24, 2017, 01:15:22 PM |
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It is sad to see the poor people of Venezuela going through such hardship. Bad political leadership and foolish political agendas have profound consequences and, in the end, the citizens paid a horrendous price for such injurious behavior.
I just hope that the poor people with loans were on fixed interest rates. US$40 posted in for doing some online work overseas, an exchange in the back of bar, and then go pay the loan off. I can't begin to imagine how this is all being managed on a practical level. If you're running any sort of import or export business, it would be a real nightmare. Businesses often have long invoice payment periods, like 30 days at end of month. So you import a box of widgets from Brazil for 1,000 bolivar, wait a month, then sell the box to Argentina for 2,000 bolivar, then pay your invoice. And with official exchange rates so completely out of touch, it makes everything much worse, while encouraging a huge currency black market. I imagine the world transition to cryptocurrency will continue it's slow and steady pace for a while yet. But once adoption rates pass a critical mass, there will be a tipping point. This is likely to continue to be a gradual process, but it may also happen very quickly. If the big banks and finance industries predict that all fiat currency will be worthless in less than a decade, they will all get out as fast as they can, because every day's delay costs them money in a market that has no hope of recovery. If the tipping point goes this way, we'll all be turning to the history of Venezuela and similar events for guidance. Currency stability is essential in commerce – whether domestic or international where extended payment terms are involved. For example, it could be net 10 days (pay me in full within 10 days), or net 30 days, or Letter of Credit at sight (Payable within days with bill of lading verified by third party) Extreme fluctuation of currency value would be a nightmare in payment settlement, rendering the subject currency a poor medium of exchange. This includes Venezuelan Bolivar, Bitcoin, DNotes, and all other digital currencies in their current states. Hence, digital currency is not gaining traction as a medium of exchange. The bulk of digital currency transactions involve speculative trading and casino gambling. Unless this problem is solved to provide currency stability mass acceptance of digital currency is not achievable. Yet the benefits of a trustworthy stable digital currency conveniently accessible to everyone worldwide is immensely valuable to the citizens of the world. It is DNotes’ vision to make this happen. That is what I think about every day. To me, Venezuela’s currency nightmare is just another reminder why DNotes is a currency with a purpose to help change the world. We have a big bold agenda that goes beyond DNotes the digital currency. There is a gaping hole between the establishment centralized world and the new decentralized world. Follow us and learn how we are going about solving multiple problems confronting our industry. We view this as a generational opportunity in job and wealth creation. It is an equal opportunity for the rich and the poor irrespective of where they are located. |
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Chase
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July 24, 2017, 03:51:39 PM
Last edit: July 24, 2017, 07:27:56 PM by Chase |
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If you ignore the specific project names mentioned in this article (I don't follow any of them, so couldn't tell you one way or another if they will succeed), there are a lot of good points made. "If there is one thing I tell my clients who are looking at blockchain for their businesses, it’s that the time is now." - A perfect fit for DNotes 2.0.  Blockchain: The time is now!As I wrote last December, I believe 2017 will be the year that blockchain gets “real”. On a recent trip to New York I saw increasing evidence that this is so. I was in Manhattan to visit clients and attend Consensus 2017, the world’s largest blockchain conference. There was an incredible amount of excitement in the air – much of it due to the recent ICO and cryptocurrency bull market. But there was plenty of substance too. From announcements like the record R3 funding, the Enterprise Ethereum Alliance tripling its membership and JP Morgan’s partnership with ZCash, to the demo of Blockstack’s new decentralized Internet browser or Toyota’s pioneering work in blockchains for mobility, you could see how this technology was making its way out of the lab and gaining toeholds in the real world. This was not lost on my clients, of course. One of the questions I get most frequently these days is where does it go from here? The six levers While we do seem to be nearing some inflection point in blockchain, much remains uncertain and hard to predict. To try and find some clarity, I have taken to analyzing near-term developments in blockchain technology in terms of six key levers I believe are needed to catalyze a full-scale breakthrough. These are: - First mover use cases. As only makes sense, first movers in this space have been focusing on the lowest-hanging fruit. We are seeing particular interest in areas like global payments, trade finance, automated compliance, and post-trade processing. With potential savings from efficiency gains of between 80 and 110 billion US dollars, we can expect some dramatic wins. It pays to keep track of how early successes are faring.
- Business networks and consortia. I believe the “end game” for blockchain will be as the backbone of large-scale, open, decentralized business platforms. A first step along this road is for companies to organize themselves into blockchain-based business networks and consortia. I don’t mean technology-oriented consortia like R3 or Hyperledger, but rather platforms around actual use cases. Ripple, for example, has built a blockchain-based direct settlement network with some 30 banks. Seven banks recently got together to form Digital Trade Chain, a project to build a blockchain-powered cross-border trade finance platform for small and medium-sized companies in Europe. Others can profit by observing how such early networks and consortia function.
- Technology convergence. Blockchain, of course, is only part of this picture. Tomorrow’s business platforms will be powered by a convergence of a number of key technologies, from big data and machine learning to edge computing and robotic process automation. A result will be a blurring of the lines between industries. It is important to understand how this blurring will transform the way we all do business.
- Decentralized business models. New, decentralized business platforms mean new, decentralized business models. While we have long talked about business model disruption, we are now starting to see it. Storj, for instance, has built the world’s largest decentralized digital storage platform on blockchain. Lykke is building a global, decentralized financial marketplace. Chronobank is doing the same with recruiting talent. Anyone looking at new models for their business should be aware of the approaches used by these pioneers.
- Tipping point. Success is often a question of timing, and it will be no different in this space. When can we expect large-scale breakthroughs? The tipping point for a new technology is generally when it approaches 15% of the market. To be a first mover you will want to be in position latest by then.
- Blockchain ecosystem Finally, a main driver of blockchain breakthrough will be successful collaboration within the blockchain ecosystem. Here is where the technology-oriented consortia like R3, the Enterprise Ethereum Alliance or Hyperledger play a big role, as well as industry specific consortia, associations, regulators and even central banks. Companies should be aware and actively manage their ecosystem landscape.
The time is now I think these levers can be a good lens through which to try and make sense of what is going on in blockchain. They can also be used as bellwethers: paying attention to developments in these areas can provide indications of where and when significant breakthroughs could appear.
The important thing – at least in my opinion – is to keep your eyes open and start to get active.
If there is one thing I tell my clients who are looking at blockchain for their businesses, it’s that the time is now.Oops! Forgot the link - https://www.oliverbussmann.com/blockchain-the-time-is-now/ |
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DNotes (OP)
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July 24, 2017, 07:18:33 PM |
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If you ignore the specific project names mentioned in this article (I don't follow any of them, so couldn't tell you one way or another if they will succeed), there are a lot of good points made. "If there is one thing I tell my clients who are looking at blockchain for their businesses, it’s that the time is now." - A perfect fit for DNotes 2.0. Blockchain: The time is now!As I wrote last December, I believe 2017 will be the year that blockchain gets “real”. On a recent trip to New York I saw increasing evidence that this is so. I was in Manhattan to visit clients and attend Consensus 2017, the world’s largest blockchain conference. There was an incredible amount of excitement in the air – much of it due to the recent ICO and cryptocurrency bull market. But there was plenty of substance too. From announcements like the record R3 funding, the Enterprise Ethereum Alliance tripling its membership and JP Morgan’s partnership with ZCash, to the demo of Blockstack’s new decentralized Internet browser or Toyota’s pioneering work in blockchains for mobility, you could see how this technology was making its way out of the lab and gaining toeholds in the real world. This was not lost on my clients, of course. One of the questions I get most frequently these days is where does it go from here? The six levers While we do seem to be nearing some inflection point in blockchain, much remains uncertain and hard to predict. To try and find some clarity, I have taken to analyzing near-term developments in blockchain technology in terms of six key levers I believe are needed to catalyze a full-scale breakthrough. These are: - First mover use cases. As only makes sense, first movers in this space have been focusing on the lowest-hanging fruit. We are seeing particular interest in areas like global payments, trade finance, automated compliance, and post-trade processing. With potential savings from efficiency gains of between 80 and 110 billion US dollars, we can expect some dramatic wins. It pays to keep track of how early successes are faring.
- Business networks and consortia. I believe the “end game” for blockchain will be as the backbone of large-scale, open, decentralized business platforms. A first step along this road is for companies to organize themselves into blockchain-based business networks and consortia. I don’t mean technology-oriented consortia like R3 or Hyperledger, but rather platforms around actual use cases. Ripple, for example, has built a blockchain-based direct settlement network with some 30 banks. Seven banks recently got together to form Digital Trade Chain, a project to build a blockchain-powered cross-border trade finance platform for small and medium-sized companies in Europe. Others can profit by observing how such early networks and consortia function.
- Technology convergence. Blockchain, of course, is only part of this picture. Tomorrow’s business platforms will be powered by a convergence of a number of key technologies, from big data and machine learning to edge computing and robotic process automation. A result will be a blurring of the lines between industries. It is important to understand how this blurring will transform the way we all do business.
- Decentralized business models. New, decentralized business platforms mean new, decentralized business models. While we have long talked about business model disruption, we are now starting to see it. Storj, for instance, has built the world’s largest decentralized digital storage platform on blockchain. Lykke is building a global, decentralized financial marketplace. Chronobank is doing the same with recruiting talent. Anyone looking at new models for their business should be aware of the approaches used by these pioneers.
- Tipping point. Success is often a question of timing, and it will be no different in this space. When can we expect large-scale breakthroughs? The tipping point for a new technology is generally when it approaches 15% of the market. To be a first mover you will want to be in position latest by then.
- Blockchain ecosystem Finally, a main driver of blockchain breakthrough will be successful collaboration within the blockchain ecosystem. Here is where the technology-oriented consortia like R3, the Enterprise Ethereum Alliance or Hyperledger play a big role, as well as industry specific consortia, associations, regulators and even central banks. Companies should be aware and actively manage their ecosystem landscape.
The time is now I think these levers can be a good lens through which to try and make sense of what is going on in blockchain. They can also be used as bellwethers: paying attention to developments in these areas can provide indications of where and when significant breakthroughs could appear.
The important thing – at least in my opinion – is to keep your eyes open and start to get active.
If there is one thing I tell my clients who are looking at blockchain for their businesses, it’s that the time is now.Agreed, and it appears the blockchain use cases have evolved from everything on the blockchain to much more practical use cases. It will be interesting, we are following closely, as the need for blockchain increases, immutable decentralized data and smart contracts. |
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