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Daily Bit #69: Wanchain Now on Binance!
- 1. Daily Bit #69: Wanchain Now on Binance! March 23, 2018
- 2. Table of Contents I. Tweet of the Day II. Word on the Street A. Huge Week for Binance - Adds WanCoin B. JPM’s Blockchain Solution May Be Taking Flight III. Where’s Blockchain? A. Your Venti Soy Latte Was Grown By: IV. What Else You Should Read Today V. Bulls and Bears A. Australia, UK Upgrade Fintech Collaboration B. No Cash Flow To Cover, Says CFTC VI. Education A. Stealth Addresses
- 3. I. Tweet of the Day
- 4. I: Tweet of the Day Tech buzzwords explained: AI—regression Big data—data Blockchain—database Algorithm—automated decision-making Cloud—Internet Crypto—cryptocurrency Dark web—Onion service Data science—statistics done by nonstatisticians Disruption—competition Viral—popular IoT—malware-ready device - @random_walker
- 5. II. Word on the Street
- 6. Huge Week for Binance: Adds Wancoin “Eventful Thursday” - Accused of shuddering Japanese operations - Nikkei, Japanese financial newspaper - Debunked by CEO Changpeng Zhao: Binance in “constructive dialogues with Japan FSA” - Release of Binance Mac Client - “First cut” of product, some users experiencing lag - Native UI huge plug - Listing of Wanchain native token, Wancoin ($WAN) - Smart contract blockchain platform - Privacy protection - Cross-chain capabilities
- 8. JPM’s Blockchain Solution May Be Taking Flight Rumored spin-off of Quorum - Open source, enterprise-focused version of Ethereum - Privacy & Transparency - Transaction-level privacy; network-wide transparency - Performance & Throughput - Institutional transaction volumes - Permission & Governance - Permissioned group of known participants Consensus algorithms (non PoW) - Quorum Chain, RAFT, or Istanbul BFT
- 9. JPM’s Blockchain Solution May Be Taking Flight Stepping Out From JPM’s Shadow - Uses extend beyond financial sector - JPM influence potentially unattractive to market JPM spokesman: “Quorum has become an extremely successful enterprise even beyond financial services and we’re excited about its potential.”
- 11. Your Venti Soy Latte Was Grown By: Starbucks: All About the Ambiance “To inspire and nurture the human spirit - one person, one cup and one neighborhood at a time.” But what about the farmers? - Global Farmer Fund Program: $50 million - Supporting coffee communities: $100 million+ - Healthy coffee trees by 2025: 100 million
- 12. Your Venti Soy Latte Was Grown By: “Bean to cup” with blockchain technology [3 regions] - Rwanda: “Traceability builds value for farmers and is transforming the coffee sector in Rwanda, which in turn strengthens the country as a whole.” - Costa Rica: “working with Starbucks is like working with a friend” - Colombia: “Coffee has always stimulated economic growth and transformation in Colombia -- and with Starbucks coffee ‘bean-to-cup’ traceability pilot project, it can do even more for our country” Not just a commodity - a way of life. - “The taste of coffee eventually disappears off the palette, but what never leaves you are the stories of a people and the places.”
- 13. IV. What Else You Should Read Today
- 14. What Else You Should Read Today - Blackrock produced a research report for a decentralized payment system Request Network (REQ). - Bank accounts may eventually be obsolete, according to a notable senior exec at Deutsche. - Snowden expressed his reservations towards Bitcoin’s longevity. - ETHLend, a decentralized lending application, surpassed 6,000 ETH in daily lending volume. - VICE interviewed Overstock CEO Patrick Byrne about his ambitions for blockchain. - BitMEX research released a report comparing transaction speeds of Segwit and Bitcoin Cash.
- 15. V. Bulls and Bears
- 16. Australia, UK Upgrade Fintech Collaboration Cooperation Agreement → Enhanced Cooperation Agreement - Australian Securities Investment Corporation (ASIC) - UK Financial Conduct Authority (FCA) Proposals Innovation Hubs: Refer Fintech companies to each other Global ‘sandbox’: Test products, services, strategy w/real market & customers
- 17. No Cash Flow To Cover, Says CFTC Spending Bill: $1.3 trillion CFTC Budget (Old): $250 million Chairman J. Christopher Giancarlo’s Request (New): $281.5 million CFTC Budget (New): $249 million SEC Budget (New): 3% higher than req.
- 18. No Cash Flow To Cover, Says CFTC Being a Watchdog(e) Ain’t Cheap CFTC Commissioner, Rostin Behnam Old - Derivatives market - 2008 financial crisis - OTC swaps market - approx. $600 million New - Cyber threats - Clearinghouse exams - Fintech growth
- 19. VI. Education
- 20. Part of “secret sauce” to Monero’s privacy features - Monero: Stealth addresses “allow and require the sender to create random one-time addresses for every transaction on behalf of the recipient.” - Decoys - Payment secretly delivered to another address - Location only known by sender and receiver Stealth Addresses
- 21. Stealth Addresses Let’s Get Technical - Private view key: Used to view all transactions related to the account - Private spend key: Used to spend any funds in the account - Public address: Visible wallet address on the blockchain - Also: - Public view key - Public spend key - RANDOM DATA - One-time address - Public - Private
- 22. Stealth Addresses ‘Dow’ wants to send Monero to ‘Jones’ 1. Jones’ public view key + public spend key + RANDOM DATA = one-time address (public) 2. Jones finds one-time address (public) with personal private view key 3. Jones makes a one-time address (private) 4. One-time address (public) syncs with one-time address (private) 5. Jones can spend funds
- 23. Thanks for tuning in!! Website/Subscribe: www.thedailybit.news Twitter: @thedailybitnews LinkedIn: The Daily Bit Medium: @thedailybit.news Facebook: @dailybitnewsletter