Mar 252017
 

Good Day Friends, There are now several thousands of subscribers to my newsletter, Inside GreenFire DAO. A news letter that follows the development of an Industrial blockchain application for landfill mining and landfill Commerce for the "Children of the Landfill", those that are forced by circumstances to "live to survive" on the world's dumps.

The security of my subscribers has been threatened, who would of thought that a newsletter about the world's waste would get such a reaction.
 
That said, I have moved my newsletter hosting to the secure cloud hosting of Markethive, a global inbound social marketing system equipped for serious client security and protection. Follow the link below, click on the facebook icon, say yes and become a member of "Inside GreenFire DAO" group and get a free inbound marketing account to use for your business. Take a quick look, see what is so disturbing and then follow along it does have its advantages. You will get a free cryptocurrency wallet as a member.

The page below has a short but informative video about the blockchain and the company we are working with, Infinity-economics. PLEASE JOIN Inside GreenFire DAO Newsletter Join and keep informed on this blockchain development, the pre-ICO and the ICO. If you know why the topic of waste and the reclamation of global waste is resisted so strongly, please advise me. Thank you

Feb 102017
 

Social media has penetrated individual and collective lives to a huge extent and consequently modified many of our online and offline behaviors.

Public and private organizations worldwide are greatly benefiting from a better understanding of the fundamental principles governing the individual and collective behaviors of people connected through social media.

Recently, a framework  called Virtual Collective Consciousness (VCC) has been put forth. It is defined as the internal knowledge motivated by social media and shared by a plurality of individuals driven by the spontaneity, the homogeneity and the synchronicity of their online actions.

Thus, the extensive outreach of information sharing through social networking platforms can build a momentum of consensus based on converging informational contents. Ultimately, a common identifying  stance can be forged as a resulting effect of the collectively shared consciousness.

The VCC model assumes that any virtual massive-scale collective consciousness depends on transactive memory (TM). The latter can be defined as a set of individual memory systems combined with a set of individuals interacting with each other. In other words, TM can be considered as the collective memory of the online community that is afforded by social media.

So how does their collective behavior exhibit awareness, cohesion, and self-identity?

We have both the internal framework and the platform, which will produce such a mind-like process. To be explicit, we use the Mycryptoworld/Infinity Economics (MCW/IE) advanced blockchain as a paradigm based on its very recent innovations in the blockchain domain. Indeed, the blockchain protocol offered by MCW/IE and its TM operations emerges as an example on which the knowledge framework of VCC can operate.

Blockchains are based on strong cryptography and memory of operations – and illustrates peer-to-peer interaction with no central agency.

Applied to social networks, the blockchain protocol provides an explicit model for a platform that incrementally incorporates immediate experience with an integrated memory of the past, provides a global workspace, and a mechanism for consensus between participating individuals operating within a Virtual Collective Consciousness.

Blockchain protocols maintain the relatively secure identity of participants and the integrity of the records. It is this methodology of linked records that provides a proxy for a linked, on-going record of experience, which is an essential feature of idealized virtual consciousness.

Making the case for adopting a blockchain approach to a social network, the result would be a cloud based entity which might satisfy the criteria for a Virtual Collective Consciousness.

In any case, blockchain will provide the key services needed for integrating a decentralized planet wide distributed group activity.

Feb 082016
 

The future of money is cryptocurrency.

We finally reach really incredible stage in the digital universe for ten or fifteen years we were awaiting the arrival of a truly cohesive electronic money and crypto currency the modern-day blockchain based bitcoins star concept has finally broken through.

We are starting a cryptofunding campaign to fund the Green Fire Project. There are seven currencies listed in the sidebar that being used for this purpose.  I will present each one individually. Each video has instructions about where to get your wallet and how to set it up.

Introductions to the different cryptocurrency exchanges for exchanging and purchasing the currency will be detailed and linked.

The donation pages will be announced in the next few days.

This video will explain.

 

[youtube https://www.youtube.com/watch?v=Kf6lXgyZB9U]

 

Feb 012016
 

– Commodity Trade Mantra – http://www.commoditytrademantra.com –

How the Blockchain and Gold Can Work Together

Posted By Rajesh J. Shah On February 1, 2016 @ 7:49 pm In Bitcoin,Gold Trading | No Comments

 

How the Blockchain and Gold Can Work Together

A look into monetary history shows that people, when given freedom of choice, opted for precious metals as money. This doesn’t come as a surprise. Precious metals have the physical properties a medium must have to serve as legal tender: They are scarce, homogenous, durable, divisible, mintable, and transportable. They are held in high esteem and represent considerable value per unit of weight. Gold fulfills these requirements par excellence, and this is why it has always been peoples’ first choice in terms of money. Gold has proven its merits as money for millennia; it is the ultimate means of payment.

More recently, gold has been replaced by the state’s unredeemable fiat money — for reasons rather more political than economic. The state prefers money whose value can be altered at will — say, to influence overall demand, redistribute income, and to benefit some at the expense of the many. Gold money stands in the way of such machinations. Fiat money doesn’t. On the contrary, fiat money can simply be printed up; can be created out of thin air.

Fiat money has serious economic and ethical drawbacks, though. It is chronically inflationary, widens the gap between poor and rich, triggers boom-and-bust cycles, and compounds the economy’s debt burden. Most important, a fiat money regime allows the state to expand actually without limit, over time potentially transforming even a minimum state into a maximum state at the expense of individual liberty and freedom.

In the wake of the most recent financial and economic crisis of 2007–2008, many people have become concerned that their savings, mostly invested in fiat-denominated bank accounts and bonds, could be devaluated. This has prompted a search for “good” money.

Somewhat new to the mix are the digital currencies, most famous of which is the virtual unit “bitcoin.” It is a digital currency generated by decentralized, internet-based computers rather than a central authority.

Transactions through digital currencies such as bitcoin are confirmed, or validated, by a decentralized consensus system that uses a “blockchain.” The latter is essentially a public digital ledger, an account statement for transactions among computers. The blockchain is saved on many computers so that it is practically impossible to manipulate. In the case of bitcoin specifically, the blockchain ensures that only the bitcoin’s owner can make a transaction with his bitcoin, that the same bitcoin cannot be created manifold.

In this article, I’ll use bitcoin as my main example, although this technology can be applied to any number of similar digital currencies.

However, this technology has now been used to provide a new means of transferring assets among people: the “colored bitcoin.” A colored bitcoin — or something comparable using blockchain technology — represents a certain asset. For instance, physical gold can be made available for day-to-day transactions — for purchases and sales in supermarkets and on the internet — simply by transferring a gold-backed colored bitcoin from the bitcoin wallet of the buyer to the bitcoin wallet of the seller.

How could one obtain such a gold backed bitcoin? You would buy, say, physical gold at a gold shop. The latter then issues a colored bitcoin, which represents the ownership of physical gold. The colored bitcoin is, economically speaking, a gold substitute (a money substitute, fully backed by physical gold). It can be used for making purchases and, upon the wish of its owner, it can be redeemed into physical gold at the gold shop at any time.

A colored bitcoin represents a physical thing or asset that exists outside the bitcoin network. It therefore carries with it a risk that the issuer will not live up to his promise. However, there are market solutions to this problem. For instance, the gold can be stored with a particularly trustworthy third party. Or, people hold colored bitcoins issued by various issuers. If the latter are seen to be of the same riskiness, they would trade at par to each other (after making allowance for possible storage and handling costs).

That said, the gold-on-the-blockchain technology appears to hold great potential when it comes to making possible a world of digital gold money transactions. So far, governments use regulation and taxation to inhibit and even prevent unencumbered competition among monies. However, the evolution of the blockchain largely circumvents many of the obstacles governments put in the way of a free market in money. Where it will lead is, of course, is impossible to predict with certainty.

In any case, when we’re comparing to government fiat money, digital currencies can offer attractive alternatives. The same goes for gold lovers, who may see blockchain technology as the means of conveying physical gold; and in the end digitized gold money could become a practical option.

 

 

Courtesy: Thorsten Polleit [1]

 

Article printed from Commodity Trade Mantra: http://www.commoditytrademantra.com

URL to article: http://www.commoditytrademantra.com/gold-trading-news/how-the-blockchain-and-gold-can-work-together/

URLs in this post:

[1] Thorsten Polleit: https://mises.org/library/how-blockchain-and-gold-can-work-together

Aug 312015
 

Extracted from BBVA Research on Digital Banking.

What is Blockchain?

Blockchain is a peer-to-peer public ledger maintained by a distributed network of computers that requires no central authority or third party intermediaries. It consists of three key components: a transaction, a transaction record and a system that verifies and stores the transaction. The blocks are generated through open-source software and record the information about when and in what sequence the transaction took place.

This “block” chronologically stores information of all the transactions that have taken place in the chain, thus the name blockchain. In other words, blockchain is a database of immutable time-stamped information of every transaction that is replicated on servers across the globe. This technology is the foundation of bitcoin, a crypto currency.

In traditional transactions such as money transfers or foreign currency, there is usually an intermediary or a centralized entity that records the transmission of money or currency that exist apart from it. In blockchain, the token or digital coin itself is what has value, which is determined by the market. This is what makes the system a truly decentralized exchange. When people buy or sell cryptocurrency, a secret key or token is broadcast to the system. “Miners” use nodes, computers or devices linked to a network, to identify and validate the transaction using copies of all or some information of the blockchain.

Before the transaction is accepted by the network, miners have to show “proof of work” using a cryptographic hash function –a special algorithm- that aims to provide high levels of protection. Miners receive some form of compensation for their computing power contribution, avoiding the need to have a centralized system.

New protocols such as Ripple rely on a consensus process that does not need miners nor proof of work and can agree on the changes to the blockchain within seconds.

In any case, the blockchain offers an inherent level of trust for the user, eliminating the need for the middleman and mitigating the risk of human error. In this public ledger, the data is protected against tampering and revision, and individuals cannot replace parts of the blockchain as the cost of doing so is significant – hypothetically one would need to control more than half of the “nodes” to surreptitiously alter the block chain.

The Disruption

While cryptocurrency itself has received a lot of criticism, the blockchain technology is thought to offer great potential, attracting the attention of governments, businesses and venture capital at a rapid pace. Some ideas developed in recent years include a pay-as-you-go system that allows users to stream live video; a structure that allows sharing space-program information; or ways to record business information such as audits. In most cases, these options are thought to offer greater security, speed and reliability at a fraction of the cost of more traditional infrastructures.

Other ideas include the possibility to create digital identities that could substitute dozens of usernames and passwords while offering greater security features; and “smart contracts” with self-executing properties that would make the contract “unbreakable”.

In the financial industry, institutions are slow to recognize the potential of blockchain technology; however, dozens of large banks have now invested significant amounts of money in this technology.

The attention is likely the result of how disruptive this technology is to the financial sector, particularly if it allows massive simplification of banking processes and significantly reduces costs.

The first levels of disruption seem more likely in payment processing where traditional transactions such as money transfers, credit and debit card payments, remittances, foreign currency and online payments, require an intermediary such as a clearing house or a financial institution.

In these cases the transaction would occur directly between the buyer and the seller without any intermediary and the validation of the transaction would happen in a decentralized way or “distributed ledger”. This would result in significant infrastructure savings for banks by allowing them to bypass payment networks that are oftentimes slow, cumbersome, and expensive.

However, the biggest potential impact of a public ledger may extend beyond the payment system. Given that the majority of financial assets such as bonds, equities, derivatives and loans are already electronic it may be possible that someday the entire system is replaced by a decentralized structure.

In fact, the latest innovations are using tokens to store and trade assets like shares, bonds, cars, houses and commodities. These so-called “colored coins” attach additional information on the asset, generating “smart property” or the ability to record and transact these assets using “smart contracts”, which are enforced by complex algorithms, through distributed platforms without a centralized register, thereby increasing efficiency.

In this environment, the current system where financial institutions record individuals’ accounts in a centralized fashion and the banks’ reserves are stored by the central bank (i.e. Federal Reserve) would be replaced by the “Internet of money” or the “Internet of finance” – a fully decentralized financial system.

As other industries that have been transformed by new technologies and digitization, blockchain technology could reshape the financial industry well beyond the payments system.