[ANN][NOTE]DNotes - Celebrating DNotes 3rd Birthday - Forum Now Open

[Dyna]

"Obviously, MasterCard has been trying to exploit this tendency, taking advantage of the uninformed and misinformed public at large, including political leaders and regulators world wide."

It certainly seems that way.

There is too much to cover in that article that is inaccurate or misleading.

"speed and safety of digital currencies [do] not hold up, not least given that on average it takes 10 minutes for a block to be verified" - So in an hour on average the transaction is completely verified, instead of 24-48 'business' hours like my mastercard? Either way you get instant notification, but verification of transaction, bitcoin wins by a long shot.

"digital currencies are far more susceptible to hacking attacks" - I wonder how one could substantiate that claim? Several times in my life my account (mastercard) had someone withdrawing money from across seas. This also means they hacked have my personal information as well. Yet my bitcoins are still safe and sound since I started.

"To achieve economies of scale, the higher marginal costs of digital currencies will lead to a reduction in the number of miners down to a monopoly miner, defeating the original design of digital currencies and opening them up to system-wide fraud." - It is a competitive industry just like any other. I don't know what possible evidence you could have to substantiate this. Hundreds of thousands of miners are just going to give up?

"The "current blockchain process" doesn’t provide sufficient transparency" - From where I am sitting it is a lot more transparent than the credit card networks. If you ever plan to purchase anything with your bitcoin, it is basically 100% transparent.

"Finally, MasterCard believes the government should develop consumer protections which would force digital currency companies to create a formal consumer complaint process and enable the reversal of unauthorised charges." - Government consumer protections are fine, providing they are logical and don't inhibit progress. I like the use of the word reversal, like they can reverse CC transactions... lol. All they do is add a new transaction for the exact same amount back to the sender.

And all the time the credit card companies are still smiling because they have earned their fees along the way.  Someone returns something guess what... the credit card company does not return your fees, shoot even paypal charges you to reverse a transaction, ok well they don't "CHARGE" you they just simply do not return all the fees to you.  So not only did they "charge" me for the initial transaction they also "charge" for the return by not giving all your money back.  I would say that is a little bit of double dipping there!! Just like Ebay, you charge for shipping and they charge you a fee on that now where it used to be only the item amount that you only were charged for.  Gee thanks, I do not gouge for shipping but for some reason they believe now that I need to pay them for covering my shipping cost.  Oh now you have gotten me started.... LOL

I had the opportunity of working with a fair number of small business owners from start-up to $20 million in revenue for a number of years, both in the US and Canada. Depending on which companies, credit card expenses + (charge-back + credit card interest payment) was always one of the top 5 problems that needed to be brought under control. Majority of small business owners work very hard for very little pay. With a more favorable regulatory environment and a little more time to get established DNotes is committed to make a difference.

[TeeGee]

This is interesting, both of these banks are active in New Zealand, and one of my friends is quite senior at ANZ. It appears to be the case that banks are taking the first baby steps to adopting blockchain technology, but without fully embracing an actual currency.

Australian Banks Westpac and ANZ Experiment With Ripple

Two of Australia's 'big four' banks, Westpac Banking Corporation and the Australia and New Zealand Banking Group, are experimenting with peer-to-peer transfers on the Ripple protocol.

The news, revealed by The Australian Financial Review, follows last month's announcement that the Commonwealth Bank of Australia (CBA) – another 'big four' rival – is trialling the tech for transfers between its subsidiaries. At the time, CBA's chief information officer David Whiteing described distributed protocols as "the way of the future".

While ANZ is still in early discussions with the company, Westpac, the larger of the two by market cap, told TAFR it has begun a proof-of-concept with Ripple Labs, whereby its employees are sending funds to two countries overseas.

Rachel Slade, Westpac's general manager of global transactional services, said:

"The solution we've developed is faster than other alternatives in the market today, providing same or next-day payment. This technology could be very beneficial to all Australians, providing a low-cost and fast method of sending low-value payments overseas."

Both Slade and an ANZ spokesperson were more guarded on the possibility of trialling cryptocurrencies like bitcoin in future, citing regulatory uncertainty. "The banking of cryptocurrency is technically feasible, though we don't have that capability today," the ANZ spokesperson said.

[Dyna]

This is interesting, both of these banks are active in New Zealand, and one of my friends is quite senior at ANZ. It appears to be the case that banks are taking the first baby steps to adopting blockchain technology, but without fully embracing an actual currency.

Australian Banks Westpac and ANZ Experiment With Ripple

Two of Australia's 'big four' banks, Westpac Banking Corporation and the Australia and New Zealand Banking Group, are experimenting with peer-to-peer transfers on the Ripple protocol.

The news, revealed by The Australian Financial Review, follows last month's announcement that the Commonwealth Bank of Australia (CBA) – another 'big four' rival – is trialling the tech for transfers between its subsidiaries. At the time, CBA's chief information officer David Whiteing described distributed protocols as "the way of the future".

While ANZ is still in early discussions with the company, Westpac, the larger of the two by market cap, told TAFR it has begun a proof-of-concept with Ripple Labs, whereby its employees are sending funds to two countries overseas.

Rachel Slade, Westpac's general manager of global transactional services, said:

"The solution we've developed is faster than other alternatives in the market today, providing same or next-day payment. This technology could be very beneficial to all Australians, providing a low-cost and fast method of sending low-value payments overseas."

Both Slade and an ANZ spokesperson were more guarded on the possibility of trialling cryptocurrencies like bitcoin in future, citing regulatory uncertainty. "The banking of cryptocurrency is technically feasible, though we don't have that capability today," the ANZ spokesperson said.

Interesting and good insight. Ripple has been working with quite a few banks worldwide. Stella is based on the same concept. They both use their own token or native currency. It's a viable solution and they will have certain market shares. We believe that there should be a global digital currency for everyone worldwide. It may even take a generation or more for mass acceptance. That is our very long term vision and it is reflected in how we map out our strategic plans and position DNotes accordingly. This is our master plan to position both DNotes and its ecosystem to enjoy a health growth rate for generations. We believe that we are already at the point where thought leaders must begin to address global problems with global solutions. DNotes is a global currency and payment processing solution, among others. We are still taking our time to build a solid foundation. 2016 will be the year when we start expanding globally.

[grandmama]

This is interesting, both of these banks are active in New Zealand, and one of my friends is quite senior at ANZ. It appears to be the case that banks are taking the first baby steps to adopting blockchain technology, but without fully embracing an actual currency.

Australian Banks Westpac and ANZ Experiment With Ripple

Two of Australia's 'big four' banks, Westpac Banking Corporation and the Australia and New Zealand Banking Group, are experimenting with peer-to-peer transfers on the Ripple protocol.

The news, revealed by The Australian Financial Review, follows last month's announcement that the Commonwealth Bank of Australia (CBA) – another 'big four' rival – is trialling the tech for transfers between its subsidiaries. At the time, CBA's chief information officer David Whiteing described distributed protocols as "the way of the future".

While ANZ is still in early discussions with the company, Westpac, the larger of the two by market cap, told TAFR it has begun a proof-of-concept with Ripple Labs, whereby its employees are sending funds to two countries overseas.

Rachel Slade, Westpac's general manager of global transactional services, said:

"The solution we've developed is faster than other alternatives in the market today, providing same or next-day payment. This technology could be very beneficial to all Australians, providing a low-cost and fast method of sending low-value payments overseas."

Both Slade and an ANZ spokesperson were more guarded on the possibility of trialling cryptocurrencies like bitcoin in future, citing regulatory uncertainty. "The banking of cryptocurrency is technically feasible, though we don't have that capability today," the ANZ spokesperson said.

Reading this raises one very large question, why would banks even consider looking into the blockchain technology?  Why would they spend time on this?  It would seem to me they would not want this to pan out as a reliable way to transfer money being they will not make money off of it like they do now. Any thoughts as to why they would be looking into this and spending time on this?

[wiser]

I just wanted to give a shout out to what a great job you all are doing on the community dynamics aspect. I've seen how the various DNotes founders and established team members have patiently answered questions posed by people new to the thread (or even people who have been out of the loop for a while), even when those same questions have been answered more than once in the past. Answers to those questions always come with a warm welcome. It's like you're just happy to have people on board in whatever way they are comfortable with, whether it be inquiring, participating, or even challenging. This graciousness really sets DNotes apart. Great job, DNotes team! And thank you. I really enjoy hanging out here. It's also been a joy to contribute where I've been able.

[DNotes]

I just wanted to give a shout out to what a great job you all are doing on the community dynamics aspect. I've seen how the various DNotes founders and established team members have patiently answered questions posed by people new to the thread (or even people who have been out of the loop for a while), even when those same questions have been answered more than once in the past. Answers to those questions always come with a warm welcome. It's like you're just happy to have people on board in whatever way they are comfortable with, whether it be inquiring, participating, or even challenging. This graciousness really sets DNotes apart. Great job, DNotes team! And thank you. I really enjoy hanging out here. It's also been a joy to contribute where I've been able.

Thank you Wiser! There is a lot of information about DNotes in this thread and don't expect everyone will be able to read through all of it. Questions are always welcome, and we appreciate everyone who takes the time post here.

[Dyna]

I just wanted to give a shout out to what a great job you all are doing on the community dynamics aspect. I've seen how the various DNotes founders and established team members have patiently answered questions posed by people new to the thread (or even people who have been out of the loop for a while), even when those same questions have been answered more than once in the past. Answers to those questions always come with a warm welcome. It's like you're just happy to have people on board in whatever way they are comfortable with, whether it be inquiring, participating, or even challenging. This graciousness really sets DNotes apart. Great job, DNotes team! And thank you. I really enjoy hanging out here. It's also been a joy to contribute where I've been able.

Thanks for your kind words, wiser. We sincerely believe that DNotes can indeed be positioned as the digital currency of the future for everyone. The large majority of the world's population struggle financially everyday with no end in sight. DNotes can offer a ray of hope to those who discovered us early. It is always our preference to be respectful of everyone, including those who may not always with our view point.

[Dyna]

This is interesting, both of these banks are active in New Zealand, and one of my friends is quite senior at ANZ. It appears to be the case that banks are taking the first baby steps to adopting blockchain technology, but without fully embracing an actual currency.

Australian Banks Westpac and ANZ Experiment With Ripple

Two of Australia's 'big four' banks, Westpac Banking Corporation and the Australia and New Zealand Banking Group, are experimenting with peer-to-peer transfers on the Ripple protocol.

The news, revealed by The Australian Financial Review, follows last month's announcement that the Commonwealth Bank of Australia (CBA) – another 'big four' rival – is trialling the tech for transfers between its subsidiaries. At the time, CBA's chief information officer David Whiteing described distributed protocols as "the way of the future".

While ANZ is still in early discussions with the company, Westpac, the larger of the two by market cap, told TAFR it has begun a proof-of-concept with Ripple Labs, whereby its employees are sending funds to two countries overseas.

Rachel Slade, Westpac's general manager of global transactional services, said:

"The solution we've developed is faster than other alternatives in the market today, providing same or next-day payment. This technology could be very beneficial to all Australians, providing a low-cost and fast method of sending low-value payments overseas."

Both Slade and an ANZ spokesperson were more guarded on the possibility of trialling cryptocurrencies like bitcoin in future, citing regulatory uncertainty. "The banking of cryptocurrency is technically feasible, though we don't have that capability today," the ANZ spokesperson said.

Reading this raises one very large question, why would banks even consider looking into the blockchain technology?  Why would they spend time on this?  It would seem to me they would not want this to pan out as a reliable way to transfer money being they will not make money off of it like they do now. Any thoughts as to why they would be looking into this and spending time on this?

The complete answer is lengthy and could even be a little sensitive. The brief answer is that even the bankers are finally accepting that the Blockchain technologies are so immensely innovative and disruptive that they can no longer ignore it. They don't seem to be too concerned about Bitcoin as a serious threat to their credit/debit card payment systems because of Bitcoin's volatility.  

[wiser]

The complete answer is lengthy and could even be a little sensitive. The brief answer is that even the bankers are finally accepting that the Blockchain technologies are so immensely innovative and disruptive that they can no longer ignore it. They don't seem to be too concerned about Bitcoin as a serious threat to their credit/debit card payment systems because of Bitcoin's volatility.  

So then what would happen if a block chain based currency which wasn't so volatile came along? Would that one be a threat?

[Chase]

The following was published by Blackhawk Engagement Solutions - "A Leading Global Provider of Customized Incentive and Engagement Solutions."  It is a great source of information on employee incentive benefits.  Some of the interesting facts within it include:

- More than half of America's companies use incentive programs.
- U.S. organizations spend over $100 billion annually on them.
- Incentives (other than cash) are a $46 billion industry. The industry has more than doubled in the last 10 years.

Organizations with higher than average employee engagement have:
- 27% Higher Profits
- 50% Higher Sales
- 50% Higher Customer Loyalty
- 38% Above Average Productivity
- 155% Higher Stock Returns


Exploring Employee Incentives - http://www.bhengagement.com/employee-rewards-recognition/

[DNotes]

The following was published by Blackhawk Engagement Solutions - "A Leading Global Provider of Customized Incentive and Engagement Solutions."  It is a great source of information on employee incentive benefits.  Some of the interesting facts within it include:

- More than half of America's companies use incentive programs.
- U.S. organizations spend over $100 billion annually on them.
- Incentives (other than cash) are a $46 billion industry. The industry has more than doubled in the last 10 years.

Organizations with higher than average employee engagement have:
- 27% Higher Profits
- 50% Higher Sales
- 50% Higher Customer Loyalty
- 38% Above Average Productivity
- 155% Higher Stock Returns


Exploring Employee Incentives - http://www.bhengagement.com/employee-rewards-recognition/

Nice find. Here is a little tidbit we can use for our employee incentive benefits program:

What makes incentives do well?
To be successful they must:
Promote or encourage specific actions
By a specific audience
To produce measurable outcomes
Through integrated motivational strategies
During a defined time period.

[Dyna]

The complete answer is lengthy and could even be a little sensitive. The brief answer is that even the bankers are finally accepting that the Blockchain technologies are so immensely innovative and disruptive that they can no longer ignore it. They don't seem to be too concerned about Bitcoin as a serious threat to their credit/debit card payment systems because of Bitcoin's volatility.  

So then what would happen if a block chain based currency which wasn't so volatile came along? Would that one be a threat?

Frankly, if we make that argument too early the bank will laugh at us. I am quite convinced that outside of DNotes not too many people believe that volatility in digital currency can be avoided. To a large extent. they are correct. That is the most complex part of DNotes business plan and how it is executed. It is near impossible for a competitor to replicate DNotes business model. Everything is linked and must work well as a whole system. It is grounded on trust and integrity and unquestionable commitment of the leadership to create long term fundamental value for its stakeholders. It will be a while before the banks consider DNotes a threat. Next year could be interesting. We will see.

[Dyna]

The following was published by Blackhawk Engagement Solutions - "A Leading Global Provider of Customized Incentive and Engagement Solutions."  It is a great source of information on employee incentive benefits.  Some of the interesting facts within it include:

- More than half of America's companies use incentive programs.
- U.S. organizations spend over $100 billion annually on them.
- Incentives (other than cash) are a $46 billion industry. The industry has more than doubled in the last 10 years.

Organizations with higher than average employee engagement have:
- 27% Higher Profits
- 50% Higher Sales
- 50% Higher Customer Loyalty
- 38% Above Average Productivity
- 155% Higher Stock Returns


Exploring Employee Incentives - http://www.bhengagement.com/employee-rewards-recognition/

Nice find. Here is a little tidbit we can use for our employee incentive benefits program:

What makes incentives do well?
To be successful they must:
Promote or encourage specific actions
By a specific audience
To produce measurable outcomes
Through integrated motivational strategies
During a defined time period.

I did a good amount of research on Employee Incentive Benefits. It is huge. When we start targeting small business owners (start-up to $50 million in revenue) it will be launched as a twin pack with CRISP for Retirement. Targeted PR campaign will be starting in a few months. We expect this program to be very well received.

[IMZ]

" . . . why would banks even consider looking into the blockchain technology?"

Existential threat.

"Why would they spend time on this?"

Figure out how to stymie or (profitably) integrate it.

"It would seem to me they would not want this to pan out . . . "

Nope, they don't want it to; and the better they know their enemy, the better their chances of it not panning out.

IMZ Mark

[IMZ]

"Both Slade and an ANZ spokesperson were more guarded on the possibility of trialling cryptocurrencies like bitcoin in future . . . "

Tee Gee, I have no idea what these banks intend; but for the record, from considerable personal research, these spokespeople are brazen liars.

IMZ Mark

[DNotes]

" . . . why would banks even consider looking into the blockchain technology?"

Existential threat.

"Why would they spend time on this?"

Figure out how to stymie or (profitably) integrate it.

"It would seem to me they would not want this to pan out . . . "

Nope, they don't want it to; and the better they know their enemy, the better their chances of it not panning out.

IMZ Mark

Personally I don't see why banks wouldn't eventually try to integrate digital currency, once they understand how to properly secure it. Utilizing it for back end transactions and also offering digital currency services for consumers. Many of us who are interested in digital currency believe in 'being your own bank', however I'm sure there is a large population of people who would like to have it integrated into existing system. If enough people demand using digital currency, the banks will have to evolve, or suffer from losses.

[DNotes]

Interesting coindesk survey on who really uses bitcoin. Women are getting more involved according to this survey.

New CoinDesk Report Reveals Who Really Uses Bitcoin

[...]

Despite a growing number of initiatives such as Bitcoin Women's Day, women using bitcoin are still a minority, with over 90% of bitcoin users in our survey identifying as male. Though this figure is a minuscule improvement (5.2%) from the male majority seen in previous surveys.

With regards to race, 65.8% of respondents in the survey identified as 'White'. Second came 'Asian'.

While these figures reinforce the young, white, male stereotype, other findings – such as average income – are more surprising. The question of average earnings providing a very even split across all earning brackets. Those earning $50,000–$100,000 came top, at 23.9%. One in five said their household income was below $25,000.

[...]

http://www.coindesk.com/new-coindesk-report-reveals-who-really-uses-bitcoin/

[Dyna]

" . . . why would banks even consider looking into the blockchain technology?"

Existential threat.

"Why would they spend time on this?"

Figure out how to stymie or (profitably) integrate it.

"It would seem to me they would not want this to pan out . . . "

Nope, they don't want it to; and the better they know their enemy, the better their chances of it not panning out.

IMZ Mark

Personally I don't see why banks wouldn't eventually try to integrate digital currency, once they understand how to properly secure it. Utilizing it for back end transactions and also offering digital currency services for consumers. Many of us who are interested in digital currency believe in 'being your own bank', however I'm sure there is a large population of people who would like to have it integrated into existing system. If enough people demand using digital currency, the banks will have to evolve, or suffer from losses.

Joe, you are absolutely correct. It may take a few years but it is conceivable that with a more favorable regulatory environment the more progressive banks could invest in DNotes like the rest of us and use it to their benefits; immediately gaining significant cost savings and competitive edge. Fiat currency, ACH (automatic clearing house) credit/debit card payment network systems, traditional cross-border currency transfer can all benefit by participating in adopting a stable digital currency like DNotes one day. In consideration of such possibilities we are firmly committed to building DNotes as the global digital currency for everyone. That has been our strategic plan from day one and we have been positioning DNotes accordingly.

[Dyna]

Interesting coindesk survey on who really uses bitcoin. Women are getting more involved according to this survey.

New CoinDesk Report Reveals Who Really Uses Bitcoin

[...]

Despite a growing number of initiatives such as Bitcoin Women's Day, women using bitcoin are still a minority, with over 90% of bitcoin users in our survey identifying as male. Though this figure is a minuscule improvement (5.2%) from the male majority seen in previous surveys.

With regards to race, 65.8% of respondents in the survey identified as 'White'. Second came 'Asian'.

While these figures reinforce the young, white, male stereotype, other findings – such as average income – are more surprising. The question of average earnings providing a very even split across all earning brackets. Those earning $50,000–$100,000 came top, at 23.9%. One in five said their household income was below $25,000.

[...]

http://www.coindesk.com/new-coindesk-report-reveals-who-really-uses-bitcoin/

Very much as expected.

"Those earning $50,000–$100,000 came top, at 23.9%". Would have been nice to know what percentage of Bitcoin this group own collectively; 95%? I would have included an income bracket of $250,000 + .

[DNotes]

Source: http://www.bitlanders.com/blogs/bitlanders-bitcharities-president-francesco-rulli-to-speak-at-silicon-dragon-ny-2015-at-nasdaq/3164615