Originally posted by scooterscot
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Your friendly neighbourhood VirtualMonkey - Not giving financial advice since...well...ever. -
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Sometimes people can be correct regarding a matter while their working is questionable.
Scooter is correct that crypto (not necessarily cryptocurrencies) are the future of financial trading and contracts. Any reader of the Financial Times will note that every major bank that matters [the ones not bailed out during the 2008 financial sub-prime crash] have been purchasing various types of cryptocurrencies in very large amounts the last 3 years.
In addition they are developing their own cryptos or building upon existing crypto methodology and infrastructure. It would seem that the negative attitude to crypto - justified from a general public perspective - could also mean that owning some is a good idea as part of an investment strategy. If JP Morgan and the rest of the crowd were not fully invested in crypto I would not be suggesting we should start closely monitoring the market, but it is only wise to recognize it's clearly rather necessary if the major players are increasing their stakeholds and concentrating on crypto for their futures. As a currency they are still a ridiculous "investment", but for contracts and the like they are clearly the main option for the future.Comment
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Future contracts will be digitally signed with secure hash being generated, yay - whom would have known that large scale fraud would yield such amazing results?
Next frontier - crypto will be securing every day online transactions via TLS v1.3
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not just financial contracts... any market that is centrally controlled & trusted is a target for blockchain technologies.
Personal identity (I'm thinking Civic CVC) is a prime example. I've lost count how many times various centralised businesses have lost our personal data, which is then sold to the highest bidder on the dark markets. Even our government cannot hold our personal data securely. That's about to change in a big way if you ask me. Credit reference agencies are quaking it.
Public records such as mortgage contracts, the transport of authentic goods, why trust a centralised source? Factom FCT, it is about to change the face of this industry forever. Ratings agencies will be a thing of the past. Why trust them? Ratings are bought for cash by the wealthiest, and US based, what a joke. I noticed US department of homeland security has started using Factom.
You've utterly no idea how early the game still is."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Yup.Originally posted by AtW View PostFuture contracts will be digitally signed with secure hash being generated, yay - whom would have known that large scale fraud would yield such amazing results?
Next frontier - crypto will be securing every day online transactions via TLS v1.3
Yup.Originally posted by scooterscot View Post
It may not be that early if the big boys like Microsoft are already well into the R&D phase...
Microsoft Looking To Build Decentralized Identity Network On Top Of Bitcoin Blockchain
Microsoft Launches Decentralized Identity Tool on Bitcoin Blockchain
Something to keep an eye on.
Decentralized identity – Own your own identity
I wonder how Microsoft proposing to use Bitcoin's blockchain for their 'DID' solution will impact the actual usage and therefore demand for Bitcoin? Not had chance to read all the info from the links above but I guess it will be like the lightening network sat on top of the blockchain so will need some transactions via Bitcoin to commit the 'forever' changes.Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.Comment
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AtW does not identify with gender, merely a species, Sciurus Sapien.Originally posted by Old Greg View PostComment
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