Layer 3: Creating the Blockchain Market Infrastructure at Light Speed.

This is an extract from a forthcoming book on the Blockchain economy by Bernard Lunn, an excellent introduction to applications of the technology in the real world

Daily Fintech

Layer 3.001

Legacy Finance took centuries to build, while the Market Infrastructure for the Blockchain Economy is being built at hyper-speed over one or two decades. At that hyper-speed, there are bound to be some accidents. Those invested in Legacy Finance are publicly trash-talking the disruption, while investing quietly to be a player in Blockchain Finance. We have lived with Legacy Finance for so long that it is hard to imagine a real alternative. So in the first iteration, Blockchain Finance will look a bit like a version of Legacy Finance (like the talking heads era when TV imitated Radio).

This is Part 1/Chapter 2 of The Blockchain Economy. This serialised book is a practical guidebook for investors, entrepreneurs and employees who want to learn how to prosper during the the transition to an economy where value exchange is permissionless and disintermediated. For the index please go here.

The 3 layers…

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THE NATION: Yanis Varoufakis’s vision for a more democratic Europe – a review of ‘Adults in the Room’, ‘Talking to My Daughter About The Economy’ & ‘And the Weak Suffer What They Must?’ by Atossa Araxia Abrahamian – Yanis Varoufakis

THE NATION: Yanis Varoufakis’s vision for a more democratic Europe – a review of ‘Adults in the Room’, ‘Talking to My Daughter About The Economy’ & ‘And the Weak Suffer What They Must?’ by Atossa Araxia Abrahamian – Yanis Varoufakis
— Read on

How to Enable Privacy on a Public Blockchain?

Daily Fintech

ZCashnetworkMost cryptocurrencies out there expose your entire payment history to the public, because each transaction registration on the blockchain requires validation by each node. Some scientists and developers realised this problem early and are working on adding a privacy layer on top of blockchain based currencies. Here, I’m going to talk about Zcash, a young cryptocurrency that is leading the way to provide private transactions on a public blockchain, without compromising decentralization.

Zcash, pronounced “zee-cash” was introduced in October 2016, with the aim to offer “privacy and selective transparency of transactions.” As stated on their official website, “Zcash is the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.” Zcash payments do get published on a public blockchain, but they shield away the sender, recipient and amount information from other blockchain nodes. They say, “If Bitcoin is like http for money, Zcash is https—a…

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Central Bank Digital Currencies: A Revolution in Banking?

Some great suggestions from Ellen Brown on how CBs can offer banking services directly using block chain technologies.


Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).

But Ben Broadbent, Deputy Governor of the Bank of England, puts a more positive spin on it. He says Central Bank Digital Currencies could supplant the money now created by private banks through “fractional reserve” lending – and that means 97% of the circulating money supply. Rather than outlawing bank-created money, as money reformers have long urged, fractional reserve banking could be made obsolete simply by attrition, preempted by a better mousetrap.  The need for negative interest rates could also be eliminated…

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‘Europe is too important to be left to its clueless rulers’ – Telegraph profile

On need for a “non-party” movement to address Europe’s “failure to co-ordinate”. Carpe Diem25

Yanis Varoufakis

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By Mick Brown

So, I say to Yanis Varoufakis, you were an obscure university lecturer, with a sideline in writing comment pieces about economics, who had also devised and plotted virtual currencies for computer games, but your only experience of political office was almost 40 years ago as secretary of the Black Students Alliance at the University of Essex (even though you’re white) – how exactly did you end up for five months as one of the pivotal figures in the biggest economic crisis to engulf Europe since the Second World War? 

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