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Interesting News / Open Ledger Project
« on: December 18, 2015, 08:00:13 am »
Another effort from huge companies to use "blockchain technology":

In backing a new project, they can exert more control over how it’s built and how it is used.



What people can buy in the Augur crowdsale is Reputation (REP). REP tokens can be used to report on events.

From what I understand, this is roughly how it works:
1. someone adds a prediction market with a statement, like: "The Bitcoin price will be at $1000 before the end of the year."
2. gamblers bet on this market (yes or no) - they pay a small fee
3. after the event occurred, REP holders will report on the event: it happened or it didn't happen
4. the wagered money will be divided over the winning gamblers, the fees will be divided over the majority of the REP holders

REP holders that chose the wrong answer or that didn't report, will lose REP.

A better explanation of Augur and Reputation can be found here (with infographic):

I'm not sure if it is going to work, but I do think this is an interesting concept.

Interesting News / IBM looking at 'bitcoin technology'
« on: March 13, 2015, 09:21:42 am »

"The company has been in informal discussions about a blockchain-tied cash system with a number of central banks, including the U.S. Federal Reserve, the source said."

A desperate attempt of the old world to survive in the new world...?


"Mr. Srinivasan compares 21’s work in building bitcoin products for the general public to the sequential development of 56-kilobit Internet modems, international fiber cables and wireless Internet towers, which all helped bring the Internet into people’s homes in the late 1990s."

Interesting News / Winklevoss Twins Developing A Regulated Exchange
« on: January 23, 2015, 12:36:40 pm »

I don't like the idea of a regulated exchange, but perhaps this is what the world needs...

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