[ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure

[infinitechaos]

For what it's worth to you, hoertest, it was part of the advertised plan from the beginning that there would eventually be a legal entity associated with the Blocknet. I'm not sure how you missed that. It's unfortunately kind of a necessity to have a legal entity associated with a platform that collects and redistributes fees for its services.

[hoertest]

For what it's worth to you, hoertest, it was part of the advertised plan from the beginning that there would eventually be a legal entity associated with the Blocknet. I'm not sure how you missed that. It's unfortunately kind of a necessity to have a legal entity associated with a platform that collects and redistributes fees for its services.

Yeah guess i have missed a lot. shame on me.

[Longenecker]

congrats to the new website!

Agreed, congrats!  It looks amazing!  

"The Blocknet enables multi-blockchain services to be delivered to devices that only contain a single blockchain. Thus, device and network resources are conserved, and a flexible, mobile, indefinitely extensible future is enabled."

The potential of Blocknet is limitless.  

[cryptodevil]

It's unfortunately kind of a necessity to have a legal entity associated with a platform that collects and redistributes fees for its services.

Isn't the whole point of decentralised services to not have to conform to centralised rules?

Sure, the ancillary services provided by third parties can be registered companies which interact with the platform, but the platform itself, by way of being an incorporated company, just became a centralised corporate entity that uses decentralised technology.

Totally different concept to what true decentralisation is all about, which is for the platform to belong to everyone who uses it.

Now the Blocknet platform belongs to the shareholders. Whoop-de-do. Welcome to corporate America crypto-people, now, do as we say.

[synechist]

the platform itself, by way of being an incorporated company, just became a centralised corporate entity that uses decentralised technology.

That's not correct. The platform has not become an incorporated company.

Is Ethereum a registered company? Yes.

Is it an open source platform? Yes.


So it is with the Blocknet.


Let's just get this straight:

*Any* legal entity can use and build upon the Blocknet. This applies to individuals or to companies.

It applies equally - and in the same respect - to a legal entity called Blocknet Inc. And this in no way gives centralised control over an open source technology. How could it, given that the tech is open source?

End.

[RW-Stott]

the platform itself, by way of being an incorporated company, just became a centralised corporate entity that uses decentralised technology.

That's not correct. The platform has not become an incorporated company.

Is Ethereum a registered company? Yes.

Is it an open source platform? Yes.


So it is with the Blocknet.


Let's just get this straight:

*Any* legal entity can use and build upon the Blocknet. This applies to individuals or to companies.

It applies equally - and in the same respect - to a legal entity called Blocknet Inc. And this in no way gives centralised control over an open source technology. How could it, given that the tech is open source?

End.

Arlyn, Troll-slayer

[hoertest]

the platform itself, by way of being an incorporated company, just became a centralised corporate entity that uses decentralised technology.

That's not correct. The platform has not become an incorporated company.

Is Ethereum a registered company? Yes.

Is it an open source platform? Yes.


So it is with the Blocknet.


Let's just get this straight:

*Any* legal entity can use and build upon the Blocknet. This applies to individuals or to companies.

It applies equally - and in the same respect - to a legal entity called Blocknet Inc. And this in no way gives centralised control over an open source technology. How could it, given that the tech is open source?

End.

ok a last one. Will the tokens then turn into shares of Blocknet inc. by legal definition or will they still be just tokens. i mean they will generate the revenue. are they tied to the inc. ?

[synechist]

the platform itself, by way of being an incorporated company, just became a centralised corporate entity that uses decentralised technology.

That's not correct. The platform has not become an incorporated company.

Is Ethereum a registered company? Yes.

Is it an open source platform? Yes.


So it is with the Blocknet.


Let's just get this straight:

*Any* legal entity can use and build upon the Blocknet. This applies to individuals or to companies.

It applies equally - and in the same respect - to a legal entity called Blocknet Inc. And this in no way gives centralised control over an open source technology. How could it, given that the tech is open source?

End.

ok a last one. Will the tokens then turn into shares of Blocknet inc. by legal definition or will they still be just tokens. i mean they will generate the revenue. are they tied to the inc. ?

They will be crypto-tokens on the HZ asset exchange.

[Longenecker]

the platform itself, by way of being an incorporated company, just became a centralised corporate entity that uses decentralised technology.

That's not correct. The platform has not become an incorporated company.

Is Ethereum a registered company? Yes.

Is it an open source platform? Yes.


So it is with the Blocknet.


Let's just get this straight:

*Any* legal entity can use and build upon the Blocknet. This applies to individuals or to companies.

It applies equally - and in the same respect - to a legal entity called Blocknet Inc. And this in no way gives centralised control over an open source technology. How could it, given that the tech is open source?

End.

ok a last one. Will the tokens then turn into shares of Blocknet inc. by legal definition or will they still be just tokens. i mean they will generate the revenue. are they tied to the inc. ?

They will be crypto-tokens on the HZ asset exchange.

Will BLOCK holders have to turn in their BLOCK tokens to use on the HZ asset exchange?  How will Block on the HZ asset exchange differ from Block being traded on exchanges like bittrex?

[synechist]

Will BLOCK holders have to turn in their BLOCK tokens to use on the HZ asset exchange?  How will Block on the HZ asset exchange differ from Block being traded on exchanges like bittrex?

When the tech is ready, BLOCK can be exchanged at will for HZ assets. This will allow holders of Blocknet tokens to be paid Blocknet service fees.

Getting paid service fees is the first difference between trading BLOCK on Bittrex and exchanging for HZ assets.

The second difference, of course, is that there'll be no need to use a centralised exchange to trade Blocknet tokens. :-)

[battbot]

Will BLOCK holders have to turn in their BLOCK tokens to use on the HZ asset exchange?  How will Block on the HZ asset exchange differ from Block being traded on exchanges like bittrex?

When the tech is ready, BLOCK can be exchanged at will for HZ assets. This will allow holders of Blocknet tokens to be paid Blocknet service fees.

Getting paid service fees is the first difference between trading BLOCK on Bittrex and exchanging for HZ assets.

The second difference, of course, is that there'll be no need to use a centralised exchange to trade Blocknet tokens. :-)

How will this play out practically, Arlyn? 

Will there be two different "BLOCK" assets, each with their own marketcap (HZ assets & BLOCK tokens)?  Or will they essentially be the same "asset" with one marketcap? 

I am a bit confused on how this plays out.  Could you provide some clarity? 

[synechist]

How will this play out practically, Arlyn? 

Will there be two different "BLOCK" assets, each with their own marketcap (HZ assets & BLOCK tokens)?  Or will they essentially be the same "asset" with one marketcap? 

I am a bit confused on how this plays out.  Could you provide some clarity? 

They'll be different assets - one deprecated and the other current.

There's nothing stopping people from just keeping their BLOCK of course, but I see no incentive to do so.

[holepunch]

so what interest in blocknet will the 'executive board' in the incorporated company have.There has to be a director etc.How will they be renumerated, will they be disclosing their blocknet holdings and their blocknet income,How many blocknet tokens/hz asset shares will the incorporated company(directors etc) own and what percentage of the total assets will this be? Will each blocknet token be able to be exchanged 1 to 1 with hz asset exchange 'shares' or will the company inc have say 50% hz assets and the remaining 50% be represented by blocknet tokens/hz asset shares. How will it be structured?

[Xaltotun]

How will this play out practically, Arlyn? 

Will there be two different "BLOCK" assets, each with their own marketcap (HZ assets & BLOCK tokens)?  Or will they essentially be the same "asset" with one marketcap? 

I am a bit confused on how this plays out.  Could you provide some clarity? 

They'll be different assets - one deprecated and the other current.

There's nothing stopping people from just keeping their BLOCK of course, but I see no incentive to do so.

Will there be a cut off date where block tokens can no longer be redeemed for the asset?

I for one plan on redeeming every last one of mine.

Nice work!

[synechist]

so what interest in blocknet will the 'executive board' in the incorporated company have.There has to be a director etc.How will they be renumerated, will they be disclosing their blocknet holdings and their blocknet income,How many blocknet tokens/hz asset shares will the incorporated company(directors etc) own and what percentage of the total assets will this be? Will each blocknet token be able to be exchanged 1 to 1 with hz asset exchange 'shares' or will the company inc have say 50% hz assets and the remaining 50% be represented by blocknet tokens/hz asset shares. How will it be structured?

Good questions - and ones we will take care to answer when we form the entities you mention.

But we're not yet at that stage. However, since such entities are public, you can rest assured of our legal obligation to keep you all informed.

[synechist]

How will this play out practically, Arlyn? 

Will there be two different "BLOCK" assets, each with their own marketcap (HZ assets & BLOCK tokens)?  Or will they essentially be the same "asset" with one marketcap? 

I am a bit confused on how this plays out.  Could you provide some clarity? 

They'll be different assets - one deprecated and the other current.

There's nothing stopping people from just keeping their BLOCK of course, but I see no incentive to do so.

Will there be a cut off date where block tokens can no longer be redeemed for the asset?

I for one plan on redeeming every last one of mine.

Nice work!

Thanks :-)

I think there may be a cutoff date, but this depends on the particulars of the method we use.

If we don't need a cutoff date, I doubt we'll use one. Those who don't exchange their BLOCK would just lose out on fees.

[cryptodevil]

so what interest in blocknet will the 'executive board' in the incorporated company have.There has to be a director etc.How will they be renumerated, will they be disclosing their blocknet holdings and their blocknet income,How many blocknet tokens/hz asset shares will the incorporated company(directors etc) own and what percentage of the total assets will this be? Will each blocknet token be able to be exchanged 1 to 1 with hz asset exchange 'shares' or will the company inc have say 50% hz assets and the remaining 50% be represented by blocknet tokens/hz asset shares. How will it be structured?

Good questions - and ones we will take care to answer when we form the entities you mention.

But we're not yet at that stage. However, since such entities are public, you can rest assured of our legal obligation to keep you all informed.

You are kidding, right? You have spent this much time 'diligently' forming the incorporated company as being a major milestone for the project, but you don't know the answer to questions such as how many blocknet tokens the company owns?

Who holds the shares for this Blocknet incorporated company? What name are they in? Surely you can answer that question, as it would have been part and parcel of the formation process.

[synechist]

You are kidding, right? You have spent this much time 'diligently' forming the incorporated company as being a major milestone for the project,

No we haven't.

We've spent time doing *market research* and *service creation* and *software development*.

but you don't know the answer to questions such as how many blocknet tokens the company owns?

Huh? We had an ITO. Tokens were *distributed* to holders. As such, the Blocknet does not own any tokens. Where are you getting this from?

Who holds the shares for this Blocknet incorporated company? What name are they in? Surely you can answer that question, as it would have been part and parcel of the formation process.

You are jumping the gun. For heaven's sake, presenting a *vision* that includes, as a minor facet, a traditional business component, is not forming a company. Where on earth have you got these notions from? Come back to earth.

[battbot]

Has cryptodevil ever asked a question with the intent to receive a credible answer?  

No.  He only asks questions with the intent to discredit the Blocknet project.  I wonder why?

An article worth reading to give you an idea of just how much development work is going on in the background for this and the other superNET coins:

[snip]

It's pretty easy to determine the reason behind people's negativity towards any given project by simply checking their post history.  Ordinarily, the ones who criticize a project non-stop are the ones who see it is a direct threat to their own wallets.  

My advice:  If someone is repeatedly critical towards a project, view their post history to help frame how you engage them.

[cryptodevil]

You are jumping the gun. For heaven's sake, presenting a *vision* that includes, as a minor facet, a traditional business component, is not forming a company. Where on earth have you got these notions from? Come back to earth.

I got these notions from you:

so this is an Inc. now ?

It remains a decentralized technology, with a foundation and a collection of participating blockchain-based projects.

However, you'll soon see our business plan, where we detail the need for traditional trusted entities for off-chain products and services. They will perform functions like escrow, arbitration, gateway services, and mediation. To this end, the Blocknet - and anyone else who builds a business upon the technology - will need to register as a legal entity. So yes, there will be a Blocknet Inc.

You're the one talking business plans, they normally involve, you know, businesses. Legal entities with shareholders and shares. Hence the entirely valid questions, not FUD just because I support superNET.

If I got it wrong I got it wrong, no biggie. The "Is this an Inc. now" followed by the talk of Blocknet Inc immediately brought forth questions pertinent to the intended business structure.