MikePrettyman

Aug 212017
 

Sunday, August 20, 2017

TM, Trash ‘Mafia’ and Lack of Responsibility

 Waste pickers put their lives at risk by diving into unsanitary trash bins.

People all over Iran have long witnessed waste pickers going around cities carrying huge, filthy bags on their backs, diving in bins to salvage whatever they can sell or reuse.

Though dirty, it is a well-paid job for bin divers and a lucrative business for those who run the show behind the scenes.
Urban waste pickers operate legally in the developed world as their activities are monitored and their contribution to urban sanitation and lowering municipal costs cannot be denied. In fact, in 2008, they held the First World Conference on Waste Pickers in Bogota, Colombia, to facilitate global networking. The term “waste picker” was adopted then.

However, waste picking is not at all monitored in Iran, allowing few people to run the business behind the scenes without dirtying their own hands. Officials have often expressed concern and sometimes laid out plans to tackle the problem. All words, no action.

Acknowledging the problem, Mohammad Javad Haqshenas, member of the Tehran City Council, told Ensafnews that “mafias” operating in the shadows employ young children to do their bidding.

Last week, Mozafar Alvandi, secretary of the National Body on the Convention of the Rights of the Child, revealed that waste pickers— 60% of whom  ostensibly are refugee children — have special cards issued by Tehran Municipality which allow them to search the trash bins!

The cards, which surprisingly bear the stamp of TM, cost the holder 3 million rials (about $78.5) per month.
This shocking statement means that city officials are not only aware of the hands behind the scenes, but also their activities, despite touting measures to tackle the problem.

However, whenever the matter is brought up, TM absolves itself of any responsibility and blames contractors. Assuming city officials are right and there are contractors with no direct link to municipalities, another question comes up: Aren’t municipalities and local councils responsible for collecting and segregating waste in the first place? Or, should contractors not be monitored?

Waste pickers, young and old, put their lives at risk by working in unsanitary environments and are deprived of a normal life so that a handful of greedy people line their pockets.

Those who misuse children, whether contractors or municipal officials, must be stopped. For that to happen, legislators must reform a law that allows children to work only in workshops with fewer than 10 employees. This legal loophole must be redressed to prevent the mafias and culprits from justifying their actions and promoting child labor.

Addressing the problem is integral to the prosperity .of the country; failure to do so will not only continue to expose the poor waste pickers to health hazards, but will also impose heavy medical costs on the government.

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Mike Prettyman Chief Information Officer, Green Fire Engineered Reclamation, Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Aug 202017
 

A girl plays with her brother as they search for usable items at junkyard near the Danyingone station in Yangon's suburbs in Myanmar in 2012. Photo by Damir Sagolj/Reuters

A girl plays with her brother as they search for usable items at junkyard near the Danyingone station in the suburbs of Yangon, Myanmar, in 2012. Photo by Damir Sagolj/Reuters

Worldwide, more than 340,000 children under age 5 died from diarrheal diseases in 2013 due to a lack of safe water, sanitation and basic hygiene. That’s 1,000 deaths a day, according to the UN’s statistics. What’s more, the No. 1 killer of children between the ages of one month to 5 years, pneumonia, can also be spread through a lack of hygiene.

Although much improvement has been made in the past decade to aid children across the globe, there are still alarming numbers who do not have access to clean water, proper sanitation or even just a way to clean their hands — especially after coming in contact with waste and feces.

“A gram of feces can contain ten million viruses,” said Sanjay Wijesekera, Chief of Water, Sanitation, and Hygiene, Programme Division at UNICEF. “Many diseases are transmitted by pathogens going from feces to food and fingers and so on, making children ill.”

A boy swims in the polluted waters of the river Sabarmati to dive for offerings thrown in by worshippers in the western Indian city of Ahmedabad in 2010. Photo by Amit Dave/Reuters

A boy swims in the polluted waters of the Sabarmati River to dive for offerings thrown in by worshippers in the western Indian city of Ahmedabad in 2010. Photo by Amit Dave/Reuters

One of the most basic hygiene problems that haunt developing communities is lack of adequate toilets. Around the world, about 2.5 billion people do not have proper toilets. Among them, 1 billion people defecate in the open — in fields, bushes and bodies of water — putting themselves and their community in danger of fecal-oral diseases, like hepatitis, cholera and dysentery.

Children are especially susceptible to these diseases when their home and “playgrounds” are overrun with rubbish and human waste. In countries throughout Asia, children can be seen swimming in polluted stagnant waters, digging through trash and playing amid toxic substances at landfills.

“When you have children running around barefeet, then coming in contact with excrete, it’s really easy to catch the worms and this of course impacts their development and growth,” said Dr. Aidan Cronin, Chief of the Water, Sanitation and Hygiene (WASH) program at UNICEF Indonesia.

A child jumps on the waste products that are used to make poultry feed as she plays in a tannery at Hazaribagh in Dhaka in 2012. Luxury leather goods sold across the world are produced in a slum area of Bangladesh's capital where workers, including children, are exposed to hazardous chemicals and often injured in horrific accidents. Photo by Andrew Biraj/Reuters

A child jumps on the waste products that are used to make poultry feed as she plays in a tannery at Hazaribagh in Dhaka, Bangladesh, in 2012. Luxury leather goods sold across the world are produced in this slum area of Bangladesh’s capital where workers, including children, are exposed to hazardous chemicals and often injured in horrific accidents. Photo by Andrew Biraj/Reuters

Reuters photographers have been capturing scenes like this for the past decade. But even some of the oldest photos in this series picture grisly scenes that, sadly, are still the reality in urban slums today.

Not only do these conditions promote the spread of deadly childhood diseases, another major health problem that affects children’s lives is stunting, often caused by malnutrition but also by intestinal worms and internal inflammation from fecal-oral contamination.

Stunting has become a huge obstacle for many children’s physical and cognitive growth, ultimately affecting their development and ability to learn. In Indonesia alone, nearly 9 million children suffer from stunting, said Cronin.

A child eats breakfast in a garbage dump, where hundreds of people live and make a living by recycling waste and making charcoal, in the Tondo section of Manila December 9, 2007. Photo by Darren Whiteside/Reuters

A child eats breakfast in a garbage dump, where hundreds of people live and make a living by recycling waste and making charcoal, in the Tondo section of Manila, Dec. 9, 2007. Photo by Darren Whiteside/Reuters

In Indonesia, UNICEF have recently launched a campaign called “Tinju Tinja,” which means “punch the poo” in Indonesian, in support of the Government’s five-year plan to have a completely open defecation-free country. In an attempt to engage the urban youth, the campaign has one of the local rock stars, Melanie Subono, literally fighting the “poo monster” as the main image to spearhead the campaign.

“It all starts from acknowledging that [open defecation] is a serious problem,” Cronin said. “The more you engage with communities and work with them with their specific issues, the more sustainable sanitation is.”

Children sitting on a makeshift raft play in a river full of rubbish in a slum area of Jakarta in 2012. Photo by Enny Nuraheni/Reuters

Children sitting on a makeshift raft play in a river full of rubbish in a slum area of Jakarta, Indonesia, in 2012. Photo by Enny Nuraheni/Reuters

One way to help children is through education and schools, said Dr. Jody Heymann, Dean of the UCLA Fielding School of Public Health and founding director of the WORLD Policy Analysis Center. A lot of progress has been made to make primary schools free and available for children around the world. In Indonesia, UNICEF works through primary schools to teach kids the importance of sanitation and hygiene by putting in clean toilets, hand washing stations and soap so that the kids can form a habit of cleaning.

“I think when we see [these] images, we should be asking not only ‘why isn’t there a playground? What’s leading them to the dump?’” said Heymann. “But the bigger question of what’s keeping them from being in school, gaining education that would give them lifelong opportunity.”

A boy looks on as he collects recyclable materials at a garbage dump in New Delhi in 2006. Photo by Adnan Abidi/Reuters

A boy looks on as he collects recyclable materials at a garbage dump in New Delhi in 2006. Photo by Adnan Abidi/Reuters

A boy plays in a polluted river after school at Pluit dam in Jakarta, Indonesia, June 5, 2009. Photo by Beawiharta/Reuters

A boy plays in a polluted river after school at Pluit dam in Jakarta, Indonesia, June 5, 2009. Photo by Beawiharta/Reuters

Sana, a five-year-old girl, plays on a cloth sling hanging from a signalling pole as smoke from a garbage dump rises next to a railway track in Mumbai in 2012. Photo by Vivek Prakash/Reuters

Sana, a 5-year-old girl, plays on a cloth sling hanging from a signalling pole as smoke from a garbage dump rises next to a railway track in Mumbai, India, in 2012. Photo by Vivek Prakash/Reuters

A child living in a slum plays on a swing under a bridge on the bank of Bagmati River in Kathmandu October 17, 2011. Photo by Navesh Chitrakar/Reuters

A child living in a slum plays on a swing under a bridge on the bank of Bagmati River in Kathmandu, Nepal, Oct. 17, 2011. Photo by Navesh Chitrakar/Reuters

A child swims in a polluted reservoir in Pingba, southwest China's Guizhou province September 2, 2006. Photo by China Daily/Reuters

A child swims in a polluted reservoir in Pingba, in southwest China’s Guizhou province Sept. 2, 2006. Photo by China Daily/Reuters

A boy plays at a garbage dump where hundreds of people stay and make a living out of recycling waste and making charcoal in Tondo, Manila in 2007. Photo by Darren Whiteside/Reuters

A boy plays at a garbage dump where hundreds of people stay and make a living out of recycling waste and making charcoal in the Tondo section of Manila, in 2007. Photo by Darren Whiteside/Reuters

Children play in the fumes of a municipality fumigant sprayer in a slum area in the northeastern Indian city of Siliguri October 5, 2006. Photo by Rupak De Chowdhuri/Reuters

Children play in the fumes of a municipality fumigant sprayer in a slum area in the northeastern Indian city of Siliguri, Oct. 5, 2006. Photo by Rupak De Chowdhuri/Reuters

Waste collector Dinesh Mukherjee, 11, watches his friend jump over a puddle of toxic liquid at the Ghazipur landfill in New Delhi November 10, 2011. Photo by Parivartan Sharma/Reuters

Waste collector Dinesh Mukherjee, 11, watches his friend jump over a puddle of toxic liquid at the Ghazipur landfill in New Delhi Nov. 10, 2011. Photo by Parivartan Sharma/Reuters

A boy swims in the polluted water of the Yamuna River to dive for offerings thrown in by worshippers amidst a dust haze in New Delhi during World Environment Day in 2010. Photo by Reinhard Krause/Reuters

A boy swims in the polluted water of the Yamuna River to dive for offerings thrown in by worshippers amid a dust haze in New Delhi during World Environment Day in 2010. Photo by Reinhard Krause/Reuters

People paddle in the waters of Manila Bay amid garbage during Easter Sunday in Manila April 24, 2011. Photo by Cheryl Ravelo/Reuters

People paddle in the waters of Manila Bay amid garbage in the Philippines’ capital city on Easter Sunday, April 24, 2011. Photo by Cheryl Ravelo/Reuters

Boys collect coconuts thrown in as offerings by worshippers in the waters of the Sabarmati river after the immersion of idols of the Hindu elephant god Ganesh, the deity of prosperity, in the western Indian city of Ahmedabad in 2011. Photo by Amit Dave/Reuters

Boys collect coconuts thrown in as offerings by worshippers in the waters of the Sabarmati River after the immersion of idols of the Hindu elephant god Ganesh, the deity of prosperity, in the western Indian city of Ahmedabad in 2011. Photo by Amit Dave/Reuters

Children of rag-pickers stand amid a heap of garbage on the outskirts of New Delhi in 2006. Photo by Kamal Kishore/Reuters

Children of rag-pickers stand amid a heap of garbage on the outskirts of New Delhi in 2006. Photo by Kamal Kishore/Reuters

Mike Prettyman Chief Information Officer, Green Fire Engineered Reclamation, Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Aug 192017
 

Op-Ed: Don’t forget the woman worker this August

  • ANNIE DEVENISH
    SOUTH AFRICA
    17 AUG 2017 11:45 (SOUTH AFRICA)

Photo: Informal traders with no water or electricity sell food cooked over open fires in a shack at the entrance to the construction site of Soccer City, the venue for the final of the 2010 FIFA Soccer World Cup in Soweto, South Africa, 16 January 2008. Photo:  EPA/JON HRUSA

This August the media will focus on women as consumers, as beneficiaries of state services, and as victims, in a much needed effort to bring attention to gender-based violence, but it is important that we don’t forget women as workers, because it’s precisely the invisibility and undervaluing of women’s labour that plays a key role in reinforcing gender inequality. By ANNIE DEVENISH

Xolisile Mhlongo is already setting up stall by the time Durban’s mynah birds begin chirping on a weekday summer morning. She arrives at Warwick Junction, a busy transport hub near Durban inner city, at 4.30am every day to prepare the meat and dumplings she sells to passing customers.

Across South Africa, in urban and rural centres, at taxi ranks and pedestrian thoroughfares, traders like Mhlongo are setting up shop for the day ahead. They are part of the more than 530,000 street traders recorded by the South African Quarterly Labour Force Survey (QLFS), 70% of whom are women.

Mhlongo works six days a week, commuting from her family home in KwaMashu, a township about 20kms from the city centre. Working long hours, often without adequate toilets and storage facilities, and sometimes in hostile environments facing theft or police harassment, these women generate vital income to support their families and their children’s education.

This August the media will focus on women as consumers, as beneficiaries of state services, and as victims, in a much needed effort to bring attention to gender-based violence, but it is important that we don’t forget women as workers, because it’s precisely the invisibility and undervaluing of women’s labour that plays a key role in reinforcing gender inequality.

According to Stats SA there are 9,438,000 economically active women in the labour force as of 2015, which means that they constitute almost 50% of the nearly 21 million economically active South Africans. The term economically active includes both people who are working, and those who want to work, but are unemployed.

Like Mhlongo, more than a third – 39 % in fact – of employed women work in the informal sector, compared to 29% of employed men. Statistics South Africa’s definition of informal employment includes all workers in the informal sector. Employers, own-account workers and unpaid family workers are defined as being in the informal sector if the business for which they work is not registered for VAT or income tax. Employees are defined as being in the informal sector if their employer does not deduct income tax from their pay and if the business in which they work has fewer than five employees. Informal employment also includes employees in the formal sector and private households whose employers do not contribute to their pension or medical insurance, and who do not have a written contract.

Those who are defined as working in the informal economy might be street traders, recyclers, or domestic workers. They could be home-based workers, involved in the production of clothing, catering or child care. Alternatively they could be day or seasonal workers in construction or agriculture.

What is certain regardless of industry is that workers in the informal sector are more vulnerable to risk and uncertainty because they do not have any form of social security or worker benefits, such as sick leave, holiday pay, proper pension schemes, medical aid and unemployment insurance.

And because employed women are more likely to work in the informal sector compared to their male counterparts, they face a disproportionate amount of this risk. Women workers also lack maternity benefits which puts them at a particular disadvantage, because it means that they have no job security when they take time off work to have children, and when they do, they will not receive any income support. Without access to benefits and the buffer of social security, an accident, unexpected illness, confiscation or destruction of stock, or eviction from the work space could spell disaster for such workers, placing their livelihoods at serious risk, and propelling them into a cycle of poverty.

A severe burn accident in 2010 brought this reality home to Mhlongo. She works in the Bovine head section of Warwick market where there is no electricity or running water. Cooking is done with a Primus stove using paraffin. One morning while trying to get a flame going, the lid of the stove came off, dousing her with paraffin and setting her alight.Mhlongo was badly burnt on her shoulders, chest, upper arms and face. Even her eyelids and the inside of her mouth were scorched. She needed specialist care, and was transferred to Addington hospital, a government-run facility on the Durban beach front where she spent three months recovering. During this time she could not work, and would have received no income at all had it not been for a family member who ran her stall for her.

But it’s not just women in the informal sector who face discrimination; in the formal sector too, despite the gains made in educational attainment, women are pigeon-holed into less valued, lower skilled and lower paying industries. And when they do perform the same work as their male counterparts, they are often paid less. This is clearly illustrated by the distribution of female employment across industry sectors, and the pay scales of male versus female workers.

Stats SA figures quoted in South Africa’s Report on the Status of the Women in the Economy (2015), show, that with the exception of women in professional occupations, women are more likely to be employed in low-skilled occupations at 36.2%, compared with 24.8% of men. At the top end of the scale, only 11.7% of employed women are in high-skilled occupations, compared with 14.4% of men.

As the report notes these differences are partly the result of the relatively large proportion of women employed as domestic workers. Just under a million women work as domestics in private households in South Africa, making up 14% of all working women in the country, and playing a vital role in enabling their employers to go out to work.

At the top of the employment ladder this imbalance is even worse. Figures show that between 2000 and 2014 only 20.4% of top managers were female, according to the Commission for Employment Equity Annual Report (2014-2015).

Figures from the 2013 SA Labour Market Dynamics Survey reveal that the median wage of all women in South Africa is less than that of their male counterparts of the same race. There are however important differences among women across race groups where gender and race intersect to create a more complex hierarchies. For example, the median wage for white women in South Africa was a staggering five times the median wage for African women, indicating the depth of inequality amongst this group as a whole.

All women are workers, even if they are not in the marketplace. This is because they perform the bulk of the productive and reproductive labour of the household, such as cooking, cleaning and gardening, caring for children, the sick and elderly, and providing emotional care and social support to the broader community. This unpaid care work contributes directly to our country’s economic and social development.

A Time Use Survey conducted by Stats SA in 2010 found that women spent nearly four hours per day doing housework and caring for their families and community. This was more than twice the amount of time spent by their male counterparts. The magnitude of this becomes clearer when we put a monetary value on this time and labour. A calculation of the estimated value of this unpaid care work by Debbie Budlender (2008) concluded that of the proportion of women’s unpaid care work as a percentage of South Africa’s GDP ranged between 11% and 30% depending on what type of measure was used. The words of activist George Monbiot certainly do seem to ring true here, that “If wealth was the inevitable result of hard work and enterprise, every woman in Africa would be a millionaire”.

The irony of course is that social welfare policies and practices are often dependent on women’s unpaid care work. At the height of the HIV/Aids pandemic in South Africa, community NGOs and government clinics across the country relied on volunteer workers to provide home-based palliative care to the sick and dying. The majority of these care workers were women who received no compensation, except for a stipend to cover transport and food expenses. By providing a constitutionally obligated service to the populace, these women’s unpaid care work was in fact subsidising the state, assuming the state’s responsibility for health care.

Ensuring an effective health care system is therefore a way of acknowledging and alleviating the burden of the unpaid care work of nursing the sick. Governments and business can also acknowledge the contribution of this invisible care work in relation to childcare, by providing affordable quality child care to enable greater participation of women in the labour market.

Challenging gendered perceptions of care work as women’s work is equally important in order to encourage a more equal distribution of household chores and child care, an approach advocated by the Sonke Gender Justice network. And government policies, such as improved paternity leave, are also needed to reinforce such social interventions.

But change is needed not only at the national level of policy making, but also at a local level, when it comes to infrastructure provision and urban planning. As Francie Lund, former Director of the Social Protection Programme at Women in the Informal Economy (WIEGO) explains, the work environment for traders like Mhlongo at Warwick Junction is defined by municipal rather than national policy. It is therefore the municipal provision of infrastructure in the form of toilets, shelters for traders, improved security, and access to reliable electricity and running water that will make tangible difference to their conditions of work.

August is woman’s month in South Africa, commemorating the 20’000 plus women who marched to the Union buildings on 9 August 1956 to protest the extension of the discriminatory apartheid-era pass laws to them.

Today women like Mhlongo and her colleagues continue to organise as part of the South African Informal Workers Association (SAIWA) to ensure greater recognition of their rights as workers and greater visibility in the workplace. Local and national unions, like SAIWA in turn are tied into global networks such as WIEGO, HomeNet, StreetNet and the International Domestic Workers Federation (IDWF) whose research and advocacy for national and international policy change, and empowerment of local member organisations, seek to make such workers more visible in policy and praxis. Their advocacy is a reminder that the solidarity and power of collective action witnessed by the Women’s March remains as relevant and necessary as ever, and that the struggle for gender justice is far from over. A luta continuaDM

Photo: Informal traders with no water or electricity sell food cooked over open fires in a shack at the entrance to the construction site of Soccer City, the venue for the final of the 2010 FIFA Soccer World Cup in Soweto, South Africa, 16 January 2008. Photo: EPA/JON HRUSA

 

Mike Prettyman Chief Information Officer Green Fire Engineered Reclamation Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Aug 112017
 

The silly season continues. Speculators are piling into the cryptocurrency space in the hopes of–sometimes very literally–making money fast. As I write this Ethereum’s value has halved since June but is still 20x since January. Litecoin is up 12x since then. Even Bitcoin has tripled, again. It seems like everyone now has an opinion on, and a position in, cryptocurrencies.

View image on Twitter

 

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Adam Ludwin @adamludwin

http://Coinmarketcap.com  is now more popular than http://WSJ.com 

 

 

And hey, if you want to speculate, and casinos seem too sedate and controlled to you, then more power to you, jump right in. But for those of us who are interested in the technology, not the money — who think that blockchains are primarily interesting because, unlike most modern technology, they decentralize power — so far this has actually been a mostly disheartening year.

This has been the year of the ICO, in which an astonishing amount of money has been raised by the issuance of new cryptocurrencies in exchange for existing ones, the value of which is then inevitably measured in… US dollars, which says something. Tezos, which is basically “a more flexible Ethereum” (just as Ethereum was, to vastly oversimplify, “a more flexible Bitcoin”) raised ~$230 million. Bancor, which “enables anyone to create a new type of cryptocurrency,” raised ~$150 million. Status, “an open source messaging platform and mobile browser to interact with decentralized applications that run on the Ethereum Network,” raised $95 million. TenX, “Making Cryptocurrencies Spendable Anytime Anywhere,” raised ~$80 million.

Do you notice anything that these massive fundraises have in common? That’s right; they’re projects which benefit cryptocurrencies which manipulate and/or hope to supersede other cryptocurrencies. Much, if not most, of the big-money high-profile ICOs this year have been self-referential Crypto Inception. They’re built on the (often unquestioned) assumption that decentralized blockchain apps will be widespread and enormously valuable, and therefore, blockchain tooling and infrastructure will be as well.

That implicit assumption sounds nice; it even sounds plausible, if you squint the right way and accept a few uncomfortable assumptions; but — uh — tooling and infrastructure for what, exactly? Bitcoin has fought its way into a valuable and important niche as a widely recognized, fairly widely used, decentralized currency and alternative to gold, which is remarkable… although as pointed out by Adam Back, CEO of Blockstream, crypto OG, and generally extremely perspicacious guy, the rise of other cryptocurrencies is arguably a threat to the whole notion of blockchains-as-currency.

When you get beyond Bitcoin, though, and more specialized currencies such as ZCash and Monero, what exactly are blockchains being used for? Where is the colossal value implied by these eye-popping valuations for ICOs for blockchain tools and infrastructure?

20 Jul

Adam Ludwin @adamludwin

Replying to @adamludwin

34/They either assume a) someone else knows the why the dapp is valuable or b) someone else thinks someone else knows why it’s valuable

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Adam Ludwin @adamludwin

35/Bottom line, a cryptocurrency has ZERO fundamental value if the dapp has no value to a human

 

 

Well. Uh. About that.

As we will see, most of these projects are unlikely to be useful. And of those that have a chance of being useful, most don’t seem to clearly need the tokens that were sold and don’t have a clear path to provide value to the token holders, or are likely to be quickly forked into less rent-seeking forms.

That’s from a pessimistic but trenchant analysis by Lyle Cantor a whopping six weeks ago. It does not seem any less accurate today. Consider the forthcoming Filecoin ICO; then consider “the analysis Filecoin doesn’t want you to read.” Does this still seem like a healthy market to you? Does it really?

(Aside from this parenthetical I’m not even going to talk about the millions of dollars’ worth of currency that has been stolen or outright lost because of bugs and/or insecure code. I’m actually not too concerned about that in the long run. Every new technology is ridden with security flaws early in its lifespan. Think of cryptocurrencies as a technology with massive built-in bug bounties.)

Most blockchain apps we’ve seen to date which aren’t focused on the cryptocurrency space itself address the same few areas: namespaces, identity management, decentralized storage, decentralized cloud computing, and prediction markets. What concerns me is that it remains at best highly unclear whether a decentralized solution is better in any of these areas than a centralized one, for anything more than a small minority of users. As I’ve said before: when it comes to consumer apps, blockchains are the new Linux, not the new Internet.

The calls for a glorious fully-tokenized fat-protocol future are stirring. I want to believe. But when the rubber hits the road, and they consider concrete examples, these glorious futures tend to come to a screeching halt. They talk of value being shared among all users of the network, instead of accruing to a single company … but they tend to elide the fact that such a network would be slower, more complex, and harder to use, in exchange for very little end-user value.

Consider Facebook. Imagine that Facebook was a decentralized social network that returned fully half of its revenue (not profits, revenue) to its users. That means the average Facebook user would receive … a whole US$1 a month. That is not enough to make people want to use a clumsier, slower Facebook that innovates far less rapidly. It isn’t enough for decentralized networks to be more equitable. They have to be better. Or they have to do something that centralized networks cannot.

Note that thus far I’ve been talking about public, permissionless, fully decentralized blockchains. “Private” blockchains are a different story. Their obvious application there is to replace the multiple systems involved in any given type of financial transaction with a single shared blockchain. For instance: any given credit card transaction requires systematic coordination between five different parties, as entertainingly related in this recent videofrom noted cryptocurrency champions Andreessen Horowitz. It would be simpler, more efficient, and presumably cheaper for all concerned, to use a common shared datastore such as–you guessed it–a blockchain.

But as for new applications of the technology…

— well, thankfully, largely orthogonal to the crypto/ICO bubble, a few have in fact arisen. There is Brave’s Basic Attention Token, which is nothing less than an entirely new business model for online advertising. There is Grid+, which “leverages the Ethereum blockchain to give consumers direct access to wholesale energy markets”; it’s early days yet, but the interesting thing here is that the energy market is, when you consider the growth of home solar, also permissionless and decentralized; it seems like a natural fit.

Most interesting of all, there are multiple initiatives trying to give Ethereum’s “smart contracts” — code which runs to conditionally perform transactions, or not, depending on certain criteria — the actual force of law. OpenLaw from Consensys. The Accord Project. And Mattereum, from Ethereum release coordinator Vinay Gupta and crypto-accountant-philosopher Ian Grigg among others, which:

is the first Internet of Agreements infrastructure project, bringing legally-enforceable smart contracts, and enabling the sale, lease, and transfer of physical property and legal rights … achieved by using natural language contracts which specifically delegate legal authority to two external systems: the smart contract on the blockchain, and an arbitration association which handles disputes.

The kind of blockchain true believers who cause my eyes to roll violently are fond of saying things like “code is law,” which, um, good luck convincing a judge of that. But explicitly incorporating code as law is a far more interesting and productive approach, and opens a road to a whole new panoply of applications and possibilities. Which is supposed to be the whole ultimate point of new technology.

So speculate if you like, but don’t pay too much attention to valuation bubbles or cryptocurrency prices or even ICOs. Conversely, don’t be dissuaded by the recent surreality there into thinking that the whole blockchain sector is nothing but snake-oil Dunning-Krugerrands. Once you get past the current wave of sheer ignorant greed, I promise you, you’ll find a lot of interesting things going on.

Mike Prettyman Chief Information Officer Green Fire Engineered Reclamation Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Jul 262017
 

The Dollar's Slow Demise Continues in Plain Sight

Byron King

BY 
POSTED 
JULY 26, 2017

The Dollar’s Slow Demise Continues in Plain Sight

“The end of the world’s present monetary system is already taking place,” says one of Mexico’s leading, hard-money economists, Hugo Salinas Price. “The U.S. is losing influence in the world… The end of the dollar as the basis of the international monetary system means the end of the U.S. as we have known it.”

You may or may not know of Salinas Price, but he’s a serious player at high monetary levels.

He’s not nearly as famous as most television talking-heads on mainstream U.S. media. However, he’s been following monetary issues for many decades. He’s a Mexican business magnate and founder of the Mexican retail chain, Elektra. He also happens to be a historian of money.

According to Salinas Price, “The present monetary system of the world, based on the dollar, is on its death-bed. A fiat currency — such as the dollar — cannot be replaced by another fiat currency,” he explains. “Therefore, the world will necessarily have to take up (precious metals) as the world’s money.”

Salinas Price does not foresee the U.S., or other leading Western nations, taking the lead in resolving their own currency issues. Instead, he thinks, “it is likely that the Eurasian Bloc will initiate the monetary transformation of the world, in due course.”

Specifically, he foresees China and Russia creating a gold- and/or silver-backed currency to conduct trade. Salinas Price himself has long urged Mexico to adopt a silver-based currency, to retain value inside that nation’s economy, using the peso.

Globally, there’s an obvious flight to hard currency. Whatever may happen with the day-to-day price of “paper gold,” all of the physical metal, from every mine, mill and refinery in the world, has a buyer for every ounce.

A Different Kind of Russian Collusion

Just follow the data for proof…

China, Russia and India are all accumulating massive amounts of gold. Other large amounts of gold are moving into the Middle East, and other Asian nations. For example, below is a recent graph, showing Russia’s steady accumulation of gold over the past decade.

Russian Central Bank Gold Reserves

This kind of gold buildup in Russia is no accident. Russia has a clear, national policy to accumulate gold within its state treasury. That’s because Russian policy makers are concerned about U.S./Western actions, including economic sanctions, NATO expansion, near-constant and long-term bellicose rhetoric and more.

Russian policymakers are pushing back, as you likely know from following the news. Russia is confronting the U.S./West not just directly — by building submarines and missiles, and deploying troops into Syria, for example — but also via asymmetric means.

One U.S./Western weakness, in the eyes of Russian policymakers, is the dollar — the currency used for international trade. Russian strategists detect a long-term decline of value and global significance for the U.S. buck. It’s a wide-open target for asymmetric push-back.

According to a recent report in Russia’s Sputnik News, “In the years to come, global financial markets will see a significant devaluation of the American currency… Russia and China continue to stockpile gold in a bid to cut their economies’ dependency on the U.S. dollar in the future.”

Radical Political and Economic Transformations Will Increase as the Dollar’s Global Role Decreases

In summary, Sputnik states that, “if the dollar’s role as a global reserve currency is decreased, the world will see radical political and economic transformation.”

Right now, nearly 60% of global trade is denominated in dollars. By stockpiling gold, Russia and China want to gain monetary independence, while reducing their respective reliance on the dollar.

That approach, outlined in Sputnik, parallels what other high-level Russians have stated about their national monetary strategy.

Sergey Glazyev, a well-placed Russian politician and key Kremlin player, recently declared: “As soon as we (Russia) and China dump the dollar, it will be the end of the U.S. military might.”

In an interview with Russian News Agency TASS (successor to the old, Soviet-era TASS news service), Glazyev explained, “The United States has no tools to make all others use the dollar other than a truncheon. That is why they are indulging in a hybrid war with the entire world to shift their debt burden on to other countries, to confine everyone to the dollar and weaken territories they cannot control.”

Per Glazyev, the “only way to stop U.S. aggression is to get rid of dollar addiction.”

The Final Flailing of a Failing Empire

In the West — and certainly in the U.S. — there’s a tendency to dismiss this kind of pro-gold/anti-dollar thinking and commentary by Russians. In fact, it’s a stretch for most people to imagine any world in which the dollar is not king.

Yet, more and more global trade is moving away from dollar denominations. Russia conducts much of its trade with China in rubles-yuan, with a gold exchange in Shanghai to ensure proper valuation. Plus, you’ve likely heard of China’s efforts to conduct more and more trade across the world in yuan, all backed by the Shanghai Gold Exchange.

Indeed, Beijing is even working with Saudi Arabia to displace the petrodollar as the basis for pricing oil exports to China. China already imports oil from Russia, Iran and Angola, priced in yuan and those yuan are tradable for gold. Looking ahead, if China breaks the Saudi link to the petrodollar, there’s no telling what the repercussions could be in other sectors of international trade.

Gold and silver are making a monetary comeback.

We’re fast approaching a new monetary tipping point. The next global trading system is already setting up, in plain sight, as long as you follow the facts and note who is buying gold bars, and where that metal is heading.

What can the individual investor do?

Well, if you don’t hold physical precious metal, get some. And if you are not well-invested in precious metal mining shares, you need to get there.

Echoing Jim Rickards, I believe that you should have at least 10% of your portfolio devoted to precious metals and mining shares; more, if it helps you sleep better at night.

Regards,
Byron King
for The Daily Reckoning

Mike Prettyman Chief Information Officer Green Fire Engineered Reclamation Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Jul 252017
 

7 Cryptocurrency Predictions From the Experts

Crypto currency is here to stay.

The Bitcoin purpose is established but stagnate, its application for commercial transactions is limited right now. GreenFire is devloping on the blockchain for industrial and commercial uses.

GreenFire uses the blockchain, I.E. and Ethereum, on the other hand, have absolutely fascinating infrastructure application capabilities.

No one can say how many tokens and coins and blockchain protocols will eventually win out, but the experts seem to think there’s room for a multitude. 

Many say there is yet an unknown coin to be implemented that will be universal on and to most blockchains.

As you can see, blockchain development is very dynamic. With the blockchain evolving and maturing at the speed of light it is vulnerable to all of the whims of the power elite whose basic premise in life is control.

For the next while anyone using crypto is vulnerable to the same whims.

Here is a tip:
In doing crypto transactions, it's best to follow he “know your customer” laws. They should be obeyed until the rules are agreed upon, it’s “best to be transparent” about what one is doing.

Full Article; http://fortune.com/2017/07/25/bitcoin-ethereum-cryptocurrency-predictions/

Mike Prettyman Chief Information Officer Green Fire Engineered Reclamation Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Jul 122017
 

What is Ethereum?

Steven Heap/123RF

By Will Nicol — Posted on July 4, 2017 6:30 am

If you follow tech or financial news, you’ve probably seen the name “Ethereum” popping up over the last couple years, often in connection with bitcoin. Ethereum is a rising star in the world of cryptocurrencies, entirely digital forms of currency that grew in popularity after the creation of bitcoin by a person or group calling themselves Satoshi Nakamoto in 2009. Demand for Ethereum is so high that it may even be driving up the price of graphics cards, as miners try to generate as much currency as they can. What is Ethereum exactly, and what does it mean for the future of cryptocurrency (and maybe society)? Here’s the rundown.

To start — what is a cryptocurrency?

People often refer to Ethereum as a cryptocurrency, but that isn’t precisely true. It is a platform that allows individuals to conduct transactions and draw up contracts, using a currency called “ether.” To understand what distinguishes Ethereum from a cryptocurrency like bitcoin, it helps to understand what a cryptocurrency is, as well as the concept of a blockchain.

A cryptocurrency is a form of digital currency created through encryption. A cryptocurrency has no physical form — like a banknote or coin — and it is not issued by a central bank or governmental authority. Units of cryptocurrency exist as data on the internet, and are created and managed through something called a blockchain.

A blockchain is essentially a digital ledger, shared amongst any number of computers. When transactions occur, they are recorded in blocks; in order for these blocks to go into the ledger, they must be validated by a certain number of computers on the blockchain network. Crucially, the ledger exists, in the same form, for everyone on the network. Anyone can can look at to see a complete history of every transaction that has occurred, and any changes would be visible to everyone.

The individuals who validate the transactions — which they do by having their computers solve complex computational problems — are called miners. Mining is a surprisingly intense activity, as our guide explains, that requires powerful hardware and a lot of planning. As a reward for their help in validating blocks, miners are given rewards. This is typically a specific cryptocurrency; Bitcoin miners receive bitcoin, while Ethereum miners receive ether.

When you send someone an amount of cryptocurrency, a digital signature is created to authenticate the transaction. Your public key is essentially your “address.” When someone sends you funds, they send it to your public key. When you send funds, you use your private key, which is essentially the password that grants you access to your funds, and a transaction message to create a digital signature. Miners use this signature to verify the transaction, and a new signature will be generated for every individual transaction, so the transaction can’t be repeated.

Why is this important?

Digital transactions have, historically, required third parties, such as banks, to authorize or validate the transaction. This is because money, when digital, is essentially a file, which could be copied and reused. But these more traditional intermediaries typically don’t work for free. Banks and other authorities require individuals to play in their sandbox, and pay whatever fees they demand.

Cryptocurrencies are all about skirting around financial institutions and authorities, but they still need some way to track when and how currency moves through transactions, so as to avoid problems like double spending. The currency would be useless if anyone could just create copies of their units.

Blockchains allow for peer-to-peer transactions, with no need for a third party to participate. They are inherently secure; if any data in the block were changed, computers on the network would need to revalidate it, discouraging tampering. In theory, cryptocurrencies are safe from seizure by authorities. Because they are stored nowhere in particular, and can only be accessed by a person with the private key, it would be incredibly difficult for even a government to seize them.

The broad strokes of a blockchain apply to Ethereum just as they do to bitcoin, but the two products have different goals. As mentioned, bitcoin is strictly a digital currency, designed to function as a means of payment. Ethereum takes a grander approach; it functions as a platform through which people can use ether tokens to create and run applications and, more importantly, smart contracts.

Ethereum focuses on “smart contracts”

What is a smart contract? It is a contract written in code, which the creator(s) upload to the blockchain. Any time one of these contracts is executed, every node on the network runs it, uploaded to the blockchain; thus, it is stored in the public ledger, theoretically tamper-proof.

Smart contracts are essentially structured as If-then statements; when certain conditions are met, the program carries out the terms of the contract.

As an example, say you want to rent a car from a service that uses Ethereum. A smart contract is generated, stipulating that if you send the required amount of funds, then the service will send you a digital key to unlock the car. The process is is carried out on the blockchain, so when you send the ether tokens, everyone on the network can see that you did so. Likewise, when the rental service sends you the key to unlock the car, everyone will see it. In this scenario, the contract might state that if the service does not send you the key, the tokens are refunded.

Since every computer on the network is keeping track of this transaction through the digital ledger, there is no way to tamper with it; if someone altered the details of the contract, every copy of the digital ledger would note this.

Every program on Ethereum will use a distinct amount of processing power, and since the program must be run by the nodes, it is important to keep superfluous activity to a minimum. This is why every contract and program on Ethereum is given a cost in “gas.” Gas is a measurement of how much processing power the program will require, and the higher the gas requirement, the more ether tokens the user will need to spend.

One of the commonly cited advantages of smart contracts is that there is no need for “middlemen” like lawyers or notaries. In theory, this means that you can carry out transactions without the waiting times inherent to paper filings, and without paying fees to whomever would typically oversee such a transaction. This is particularly important for people living in countries where the legal system is corrupt, or woefully inefficient.

Of course, the automation means that, if something goes wrong — if, for example, there is a bug in the code of the smart contract — the blockchain will still carry out the terms of the contract, which could be problematic.

A scandal involving The DAO — a decentralized autonomous organization — serves as a case study in how smart contracts can go wrong. The DAO was essentially a leaderless investment fund; members invested ether, gaining tokens that allowed them to vote on how to invest the DAO’s funds. As CoinDesk explains, the DAO was built through a series of smart contracts.

However, a vulnerability in the DAO’s code allowed one user to funnel millions of dollars worth of ether into a child DAO. A writer for Forbes compares the process to embezzlement, but notes that, because the DAO’s contract allowed for it to happen, it was not illegal; the user was working within the confines of the code.

What does it mean for the future?

In its short time in the spotlight, Ethereum has cast an enormous shadow. It is trading at around $300 as of June 28, 2017, and has grown by around 3600 percent in 2017, according to Business Insider. The platform has already attracted massive corporations like JP Morgan Chase and Microsoft, who are among the more notable members of the Enterprise Ethereum Alliance, which aims to provide “Resources for businesses to learn about Ethereum and leverage this groundbreaking technology to address specific industry use cases.”

That bodes well for Ethereum’s usage in the business world, but true believers see the platform as something more than a tool for corporation; they see it as a way to decentralize the internet, and make it more democratic.

In an interview with Wired, Ethereum creator Vitalik Buterin lays out his view of how Ethereum will disrupt the traditional power structures of the world:

“I think a large part of the consequence is necessarily going to be disempowering some of these centralized players to some extent. Because ultimately power is a zero sum game. And if you talk about empowering the little guy, as much as you want to couch it in flowery terminology that makes it sound fluffy and good, you are necessarily disempowering the big guy. And personally I say screw the big guy. They have enough money already.”

Smart contracts could free individuals from the constraints of the legal system and big business. However, technology enthusiasts often promise such utopian futures; in reality, just as social media has helped the spread of fake news, Ethereum and the automated, decentralized internet it seeks may have unintended consequences, as the DAO hacking indicates. Like other cryptocurrencies, ether is prone to wild fluctuations. While Ethereum has been riding high in 2017 for the most part, it suffered a flash crash in June, a drop which some think may have been exacerbated by false rumors of Buterin’s death. Whether Ethereum is sturdy enough to survive long term, or an ephemeral trend, remains up in the air.

Mike Prettyman Chief Information Officer Green Fire Engineered Reclamation Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Jul 052017
 

Central Bank of China

In Brief

China's central bank has developed its own cryptocurrency, which is now being tested. Cryptocurrencies have the potential to not only benefit China, but the rest of the world, due to their basis in blockchain.

Benefits of Digital Currency

China’s central bank — the People’s Bank of China — has developed a prototype of a cryptocurrency that it could end up in circulation in the near future. It would be introduced alongside the China’s primary currency the renminbi (also called the yuan). China will be simulating possible scenarios and running mock transactions using the cryptocurrency with some commercial Chinese banks.  Click to View Full Infographic The potential benefits of developing a digital currency are significant, particularly in China. First, it would decrease the cost of transactions, and therefore make financial services more accessible, which would be a big help to the millions of people in the country who are unconnected to conventional banks. Second, as it would be supported by blockchain, it has the potential to decrease the rates of fraud and counterfeiting, which would be of service to the government’s attempts to reduce corruption — a key concern. Third, it would make the currency easier to obtain, which would increase the rate of international transactions, allowing for more trades and faster economic growth.

The Rise of Cryptocurrencies

Since Bitcoin’s humble beginnings back in 2009 (when it was only valued at around 0.0007 USD) the digital currency, and the very idea of cryptocurrencies in fact, has grown monumentally. The total market cap of cryptocurrencies on April 1st of this year was over $25 Billion. A single Bitcoin is now worth more than $2,500. Now many national economies, as China’s plan shows, are considering the idea of developing their own variant. Although China’s experimental approach to simulate a self-developed cryptocurrency’s usage is the first of its kind, other countries and institutions have made strides in that direction as well. The Deputy of Russia’s central bank has emphatically stated that “regulators of all countries agree that it’s time to develop national cryptocurrencies.” Over 260,000 stores in Japan will begin accepting Bitcoin as legal tender this summer, and big banks like Santander have announced plans to develop their own version. Cryptocurrencies have the potential of revolutionizing not only the business world, but many methods of transaction. There has already been talk of using cryptocurrencies to administer Universal Basic Incomes due to their traceability, as well as for the delivery of human aid; the potential for which was demonstrated by a recent experiment to help refugees in Jordan by the UN.

  Source: China Becomes First Country in the World to Test a National Cryptocurrency

Mike Prettyman Chief Information Officer Green Fire Engineered Reclamation Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Jul 042017
 

Some Central Banks Are Exploring the Use of Cryptocurrencies

By

Alexandria Arnold June 28, 2017, 11:18 AM CST

In a world were financial transactions are largely electronic, central banks are exploring the idea of using virtual currencies, even as cyberattacks and price swings dominate the headlines.

"The central bank digital currency would be like a paper bill except digital," Dartmouth College economics professor Andrew Levin said in an interview on Bloomberg Television. For example, "it would be representing a U.S. dollar, but it would be basically free to use."

 

 
Dartmouth’s Levin tells Bloomberg TV why central banks are exploring the move to digital currencies.
Source: Bloomberg

Whereas credit cards charge transaction fees and interest, and paper currencies can be costly to process, digital currencies could be a "real benefit" to small businesses and consumers, Levin said.

Central banks from across Europe and Asia are looking into virtual currencies. In March, Vietnam’s central bank said it was "seriously" studying the possibility of using bitcoin. The People’s Bank of China has run trials of its prototype cryptocurrency, and the Danish central bank is considering minting e-krone. But Federal Reserve Board Governor Jerome Powell said in March the U.S. central bank is not considering a digital currency.

For a replay of the inaugural Bitcoin Facebook Live show launched yesterday.

Skeptics have questioned whether one of the key features of cryptocurrencies — their decentralized nature — makes them a good fit for central banks. But in a recent proposal published by Levin and Rutgers University economics professor Michael Bordo, the pair said central banks could provide a secure store of value in their own digital currency.

"In contrast to bitcoin, the value of the central bank’s digital currency would be fixed in nominal terms," Levin and Bordo wrote. "Moreover, the central bank’s digital currency could be implemented using an account-based system, thereby avoiding the resource-consuming ‘mining’ operations involved in generating virtual currencies like bitcoin."

Source: Some Central Banks Are Exploring the Use of Cryptocurrencies – Bloomberg

Mike Prettyman Chief Information Officer Green Fire Engineered Reclamation Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com

Jul 012017
 
JUNE 18, 2017 2:33 PM
 
With the recent surge in value of cryptocurrencies, ordinary people and traditional investment firms are paying more attention to the space. The market cap of cryptocurrencies has grown from less than $30 billion in March 2017 to over $110 billion in June 2017, and this is just the beginning. Cryptocurrencies are quickly becoming a new global market for assets, similar to stocks, bonds, mutual funds, and government backed-currencies.
 
But the immediate settlement of currency transfer on blockchains (such as Bitcoin and Etherium) is a double-edged sword. On the one hand, it’s incredibly efficient at money movement; on the other, it allows bad players to transfer your cryotcurrency with the same speed. And if the wrong person gets unauthorized access to your cryptocurrency holdings and transfers the currencies to their own wallet, there will be no getting it back.
 
As a result, among new investors in the space, there is a concern about giving money to new, unproven, and non-regulated online-only cryptocurrency wallet providers. And that opens up an opportunity for traditional banks. You already trust them with your life savings, so you will likely trust them with your cryptocurrency holdings.
 
It would take an enormous investment for banks to move into this space. But here are some reasons they should consider it:
 
They can address a real pain point for their customers: Cryptocurrency investors are concerned about trusting recently established organizations to hold their assets. Banks are reliable alternatives because people trust them. Banks entering this space will solve a real financial problem for their customers and will deepen and reinforce their relationship.
 
They will stay relevant: Cryptocurrencies such as Bitcoin might become more popular than government backed currencies one day. The only way for a bank to stay relevant in that future is to secure their relationship with the cryptocurrency holder today. As time goes on, new players will slowly earn a reputation for safety and security and will present a threat to existing financial institutions. Now is the time for banks to secure those relationships while they still have an advantage over existing and entering players.
 
They will start learning by doing: Cryptocurrencies are here to stay. Banks must start learning how these markets operate and discover the right business models for their organizations before fintech companies make them irrelevant. A great way to do so is to get their feet wet by getting involved and forcing themselves to start learning.
 
What exactly can banks offer in this ecosystem? Will ordinary people just want a cryptocurrency wallet from a trusted name? Will they want a cryptocurrency checking or savings account to pay for their daily purchases? Will they treat cryptocurrencies as a long-term asset similar to gold? No one knows the answers to these questions, but banks will get closer to the right answers by getting involved today and offering a solution that allows them to monitor the behavior of customers who hold cryptocurrencies.
 
They can help shape the future of cryptocurrency regulations: Banks can influence the future of cryptocurrencies by putting more pressure on governments to regulate the industry. While the lack of regulation in the industry creates concerns for banks looking to enter this space, the sooner they get into the cryptocurrency holding business, the sooner they can start pressing regulators and government for more guidance on how cryptocurrencies should be treated and the sooner they can develop their own policies if needed.
 
Banks have a small window of opportunity to jump into the cryptocurrency space. In a few years, cryptocurrency wallet providers will have gained enough trust and credibility that they will make banks that did not reinvent themselves irrelevant. Now is the time that banks have a competitive advantage over cryptocurrency wallet and trading companies to solve a real problem for their customers. The good news is that the number of individuals and organizations in this space is limited today so banks can test various business models and learn from their customers while cryptocurrencies evolve to become a reliable asset.  

Source: Why banks need to start offering cryptocurrency wallets | VentureBeat | Commerce | by Bijan Shahrokhi

Mike Prettyman Chief Information Officer, Green Fire Engineered Reclamation, Member GreenFire DAO Whatsapp only Phone: 1-602-315-1571 Skype: mike.prettyman Website: http://greenfirefunding.com email: greenfirereclamation@gmail.com