A library of snippets
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“Combined with state data on things like temperature, motion or chemical composition collected from sensors on equipment (aka the internet of things) blockchain could cost-effectively confirm everything that has ever happened to the food someone is about to eat.”
via Blockchain For Supply Chain: Enormous Potential Down The Road
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“If the plans of the upcoming payment bank by IndiaPost are to go by, over 112 crore Indians who have an Aadhaar number till now will be able to transact – send and receive money – only on the basis of the Aadhaar number irrespective of the fact whether it is linked to a bank account or not.”
Pocket: Your 12-digit Aadhaar number could soon be your single point payment address
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“The WoW Token is a simple market. All the tokens are identical, and have a static real-money cost. When there are more people wanting to buy gold than people wanting to sell gold, the price falls. When there are more people looking to sell gold than buy it, the price rises.”
Pocket: World of Warcraft’s gold rush has upended Blizzard’s economy
When Blizzard (the people who run World of Warcraft) first
“Prices fluctuated so much because nobody knows what a WoW Token is worth now. Since the WoW Token interface also doesn’t let you know how many tokens are actually for sale at any given time, it’s unclear whether buyers and sellers are rushing into and out of the market at different price points, or whether a single gold-rich buyer using a low point as an opportunity to liquidate can send the price skyrocketing.”
Pocket: World of Warcraft’s gold rush has upended Blizzard’s economy
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Bankers are also attracted by the stability of transaction banking, which gives some respite from the volatility of earnings in investment banking and trading.
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At the moment, bond and equity markets are far more transparent than the real estate sector:
From Crystal clear: Creating hyper-transparent property markets – JLL Real Views
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In 2006 the top five European banks had a combined 20 per cent share of the worldwide investment-banking fee pool, according to Dealogic. Last year that share dropped to 16 per cent, even though Barclays had swallowed much of Lehman Brothers in the meantime.
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In my book “Before Babylon, Beyond Bitcoin” I look at how this infrastructure hs evolved.
Double entry
Accounting is one thing, but it is not the whole story. When the
At very high level, then, accounting led to the creation of modern markets and it’s cousin, auditing, set in place the infrastructure necessary for large-scale enterprise and modern prosperity. But they are not perfect. They are backward looking. But there is another way. I co-authored a paper on this some time ago and co-opted the architectural term “ambient accountability” to describe the combination of practical Byazantine fault tolerance consensus protocols and replicated incorruptible data structure (together forming “shared ledger” technology) to deliver a transactional environment that has a form of controlled transparency (“translucency”). As XXX from R3CEV describes this new environment, it is much simpler to operate and regulate
The reconciliation comes as part of the fact recording; not after. Organisations can “confirm as they go“, rather than recording something, then checking externally afterwards. How? Distributed ledgers build in connectivity and validation criteria.
From Distributed ledgers: “Confirm-as-you-go” | Bits on blocks
Thus accounting and auditing are combined and embedded in the data structure.
If the relevant parties do not agree on a fact, it doesn’t get recorded for either party.
From Distributed ledgers: “Confirm-as-you-go” | Bits on blocks
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So it’s a Fitbit for your old chap? Basically, yes, although I doubt that will be the slogan, for a number of reasons. You charge it with a USB cable and sync the data with your phone in the usual way. Then share it online, if you wish.
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The ‘no change given’ rule at Chichester car park meters saw the council earn an extra £17,000 last year
From Council earned £17,000 from ‘no change’ Chichester car parks – Chichester Observer
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Snippings