- Dragonchain ICO: Disney's Blockchain Network!
- Air France is testing the Potential of Blockchain!
- BlackRock rejects the Launch of a Bitcoin ETF for the time being!
- New Paper on Token Regulation published by the Crypto Valley Association
- National Settlement Depository in Russia is working on a Blockchain based Project!
- BITCOIN COURSE CHALLENGE starts this Sunday!
Dragonchain is a project whose development was started by the Disney Corporation in Seattle. Now the project was taken over as an open source project by the non-profit Dragonchain Foundation. On October 2, the project launched its token. They use a fair approach, which I see as a really good method or indicator for a serious project. By November 2, the project collects Ether and Bitcoin and then distributes tokens on the basis of the relative investment of each participant - there are no bonuses or caps.
Dragonchain
The Dragonchain blockchain is designed to enable the simple integration of real business applications on a blockchain. This is achieved by features such as data protection, the possibility to create a project with or without crypto currency, multi-currency support or smart contracts in different programming languages (including Java, Python, NodeKs and C #).
Current blockchain platforms are not unconditionally suitable if users want to execute scalable and secure applications. The Dragonchain blockchain is said to close this gap and was developed by a multi-national company in front of this background. In addition to being able to create smart contracts in various programming languages, the platform will have a marketplace for the same. Programmers are thus able to sell once created Contracts as often as possible.
As a currency agnostic platform, companies can freely choose whether or not they need a complementary currency in their application. This is also a desirable feature for companies, as crypto currencies are subject to high volatility and low liquidity, which may have some negative aspects for projects. The Dragonchain team is currently working on a serverless architecture: the combination of cloud computing and a blockchain platform is an important step towards the complete security of applications, since the failure of central instances can be ruled out.
Under the following Link, Dragonchain lists a list of relevant use cases, which can be implemented via their platform. In fact, some companies are already working on Dragonchain applications. These include applications in the field of proof-of-authenticity and digital identity.
The Dragonchain architecture provides five standardized levels of consensus (compared to a level on other platforms). It can be ensured that the level of trust and security with regard to other participants, consumers or data in the network can be clearly defined. Each project is capable of adapting the appropriate security and verification levels to avoid risks. More details and technical details can be found on the Dragonchain website.
DragonFund Incubator
The Dragonchain team will look after an incubator, under which umbrella projects can be created and a wealth of help can be provided. The focus of the incubator is clearly on the long-term success of projects.
Companies / startups can use the incubator to access standardized processes in order to ensure the successful start of their project. In addition, there is a dashboard for comparing projects and access to help in the form of legal, economic or technical assistance. With the help of the incubator and the team, the complete business model, system architecture and other relevant aspects can be planned.
The Dragon Tokens represent license licenses, which allow access to the Dragonchain blockchain. The team is currently in the process of patenting this technology.
Team & Consultants
The Dragonchain team consists of eight people, with Joe Roets being the CEO and Chief Architect of the platform. Joe has extensive experience in the field of blockchain and, as Sr. Software Architect, has led the development of Dragonchain still under Disney. The other seven team members consist of four developers and three employees in the field of business / marketing.
Among the consultants of the project are some very well-known heads from the crypto scene. Of course Jeff Garzik, the founder of bloq and an important member of the Bitcoin scene (as a former Bitcoin Core Developer), will be the first to come. Other consultants include Ed Fries (co-founder of Xbox), Chris Boscolo (founder of lifeID) and Collin Lahay (founder of Gambit).
Tokensale
The Dragonchain Tokensale runs between 02.10. and 02.11. The company can accept both Ether and Bitcoin as the ICO does not run through a SmartContract. Without any form of bonus or cap, investors can send funds over the course of these 30 days and always get the same deal: A total of 433,494,437 are created, which are then distributed as shown in sequence.
Reflections on the project
The Dragonchain has some very interesting features, by which clearly added value is created. The solution was initially developed by a large group, which should lead to a higher confidence in the technology and the features of other companies. The Dragonchain can be used almost directly, so no long development phases are to be expected until the first projects use the blockchain (actually, solutions are already developed on Dragonchain).
The ICO model is extremely fair, which has different consequences. On the one hand, it shows that the Dragonchain team is not working to pump the price of tokens as quickly as possible, but wants to create a real product with a long-term business model. However, this results in the fact that a very high price rise can not be expected very quickly. For so-called "ICO-flipping", buy and immediately after crypto exchanges start resell, Dragonchain is probably not suitable. I tend to go from a continuously rising token price, which will not fall under the ICO price. Participants in the ICO do not quickly withdraw their tokens, but rely on the long-term success of the project. This should result in a very low level of sales.
It is pleasant to have no time pressure. It does not matter whether you participate in the Tokensale today or in 3 weeks. The conditions are always the same. Thus, on the one hand, the possibility of investing directly and, on the other hand, waiting for the possibility to observe the course of the ICO and decide on the basis of it.
The French airline Air France, one of the world's largest airlines, is currently investigating the use of the blockchain for tracking supply chains in the air transport sector.
As Avionics magazine reports, Air France engineers have recently participated in a webinar with Microsoft and Ramco Aviation to develop software for MRO goods. MRO is the abbreviation of Maintenance, Repair and Operations. This means products of "indirect demand", ie products which do not flow directly into the final product, but are indispensable for their production.
In the MRO Lab of Air France, test runs are to be started for a future application of the blockchain. Air France is also working with universities, manufactures and software developers from within and outside the aviation industry.
According to James Kornberg, Innovation Director at Air France, a concrete application for the blockchain is to be found, which improves the supply chains for MRO goods. "The use case must be realistic," he says.
James Kornberg also said:
The blockchain could thus become the new digital ledger for procurement of MRO parts for Air France. Whether or not the airline will also consider switching other branches to decentralized technology in the event of a successful course of the test will not be disclosed.
Instead Kornberg addresses a problem that could result in an efficient blockchain application. Thus, much of the airline's data is not digitized, but is still collected manually.
"In the aviation industry, we still have a lot of non-digitized data, a lot of analog data. The first step we need to take at the moment is to fully digitize our supply chain data and all the aircraft data we have, "said Kornberg.
In an interview with Bloomberg, Mark Wiedman, Global Head of iShares and Index Investments for BlackRock, said he did not think it would be useful to install a Bitcoin ETF.
A not entirely irrelevant statement, after all, BlackRock is the largest investment company in the world. If BlackRock were to try to offer Bitcoin fund solutions, this would give the cryptomarket more boost than would be the case with any other investment house. So, however, at least for the time being, it seems clear that there will be no Bitcoin ETFs with BlackRock.
Apart from the difficulty of getting a license for a crypto fund from the US Securities Supervision SEC, Wiedman would simply not recommend its customers to invest in Bitcoin in the long term.
In addition, Wiedman does not see the point why one would need an ETF to invest in Bitcoin. Finally, according to Wiedman ETFs are intended to invest in assets which are otherwise difficult for the individual to access. This would not be the case with Bitcoin, however, independent of the question whether Bitcoin will be successful or not.
On the other hand, his boss, the CEO of BlackRock, Larry Fink, is much more positive about crypto currencies. While he considers the crypto market to be too speculative at the moment, he sees good opportunities for cryptic growth in the long term.
The chances that BlackRock will bring crypto products onto the market in the long term are not bad. After all, no investment company would want to miss out on the returns that the crypto sector brings. On the other hand, over time, the pressure to increase customer demand for crypto assets before the customers migrate to a competitor.
At the moment, it is exciting to see how the financial markets on Wall Street are voicing crypto currencies, from very positive (Goldman Sachs) to very negative (JPMorgan).
The Crypto Valley Association (CVA), based in the Canton of Zug, has published a new law draft for crypto assets.
The CVA is a Swiss non-profit organization dedicated to the promotion of blockchain technology and the underlying crypto currencies. Together with MME, a legal adviser, and Blockhaus, a blockchain programming company, has now produced a paper that proposes a new method for the classification of tokens.
The paper is entitled "Conceptual Framework for Legal & Risk Assessment of Blockchain Crypto Property" and presents a concept of how property can be defined on a blockchain. The concept definition for blockchain property is summarized as "Blockchain Crypto Property" or BCP for short. Accordingly, BCP is defined as digital information registered on a blockchain or alternative digital ledger, which includes all elements of an ownership right. This digital information can be transferred via protocol, which may include a smart control system.
Three categories of BCP are distinguished:
Tokens without a counterpart - Classic crypto currencies such as Bitcoin or Ethereum, which do not grant their owners any legal rights.
Token with a counterpart - Tokens which provide the owner with a relative right to receive from a supplier or a third party a consideration, For example a payout.
Tokens in the sense of a so-called "tokenized co-ownership"- Token, which in combination with Smart Contracts allow the participants to participate in a cooperative, technical platform and their intellectual property.
The Partner Dr. Luka Müller from MME states that she wants to create a legal framework for the new investment class with the paper. The paper is intended to help regulators to create a legal framework that takes due account of the nature of crypto assets.
The CVA and its commitment shows that Switzerland, and especially the Canton of Zug, have good chances to lead the field of blockchain technology in the forefront. More detailed information on the work of CVA and its efforts can be found on their homepage.
The National Settlement Depository (NSD) is currently piloting its own commercial bond trading platform, which is built on the Hyperledger Fabric. The NSD is the central depository for Russia's largest securities exchange.
According to the NSD chairman, Eddie Astanin, the goal is to create a block-chine infrastructure for the trading of novel financial products.
Eddie Astanin said:
The software company Altoros, founded in California, also contributes to the development of a prototype for the trading platform.
MegaFon
Within the scope of the sample operation, Raiffeisenbank Russia used the prototypes for the purchase of bonds worth ten million US dollars. These are bonds from the leading Russian provider of integrated digital services called MegaFon. The repayment of the bond is dated 22 December.
The system works exclusively with digitized assets to make the process of issuing bonds, circulating and accounting transactions as transparent and simple as possible. Each participant can exchange documents in real time and track the transaction status. The use of cryptographic protection and subsequent verification means that all operations can be carried out electronically. In this way, it is possible for all participants to achieve time and cost advantages. By registering the documents in real time, errors can be avoided when signing the document.
"This milestone deal is a first important step to test the broad range of opportunities for the use of blockchain technology in the Russian securities market," said Andrey Popov, Head of the IT department and CEO of Raiffeisenbank. "In spite of the active development of blockchain, the legal framework in this area in Russia has only just begun. The successful completion of this deal can help create a new legal environment in which all similar projects can be implemented in the Russian market in the future. "
NSD plans further projects based on blockchain or distributed ledger technology. This includes the development of a crypto-currency wallet for banks, pension funds and private investors.
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