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Cryptocurrency crash will hopefully bring expectations back in line with reality. Legit blockchain projects will only have to deal with the stigma from being as

Cryptocurrency crash will hopefully bring expectations back in line with reality. Legit blockchain projects will only have to deal with the stigma from being associated with a giant pump and dump when they approach VCs.

notyourday 8y ago
You meant to say "Legit distributed public ledger projects". Care to name a few?
- jeletonskelly 8y ago
  I think there are several projects trying to solve this, but DLT can make an impact in secondary markets for privately held equity. Ownership is difficult to verify, settlement is complicated, and there are many rules that govern the transfer of privately held shares. Nasdaq Private Market has been using (or at least evaluating) DLT/blockchain since 2014 when it was SecondMarket. Harbor, Polymath, Securitize etc are sort-of making an approach to this, but it's heavily token and ICO driven.
  - notyourday 8y ago
    You are describing a ledger. You are not describing a "distributed public ledger".
Daishiman 8y ago
I have yet to see a single blockchain project that's actually interesting and worthy of anyone's attention.
- jeletonskelly 8y ago
  I think secondary markets could benefit from a distributed trusted database with smart contracts. I also think that behind the scenes on wall street there are some interesting things around securities settlement, something that is very time consuming and it's handled with some antiquated technology. If securities trades are settled faster and ownership is more easily verified it could lead to some very interesting shareholder voting behavior. The problem with all of these is that it requires a deep understanding of the process and the nuances of the industry to build a DLT solution that works.
  - kiriakasis 8y ago
    The problem with smart contracts is that you settle for a "all bugs are feature" solution.
  - Daishiman 8y ago
    For any solution for settling trades, the one without the blockchain will be faster. And the use of electronics for trading systems where it makes economic sense is already a done deal.
    - jeletonskelly 8y ago
      I'm talking about inter-broker settlements. Like settlements of securities between large banks. The actual physical securities that are stamped and all that.
- atomical 8y ago
  * Basic Attention Token (BAT), Brendan Eich, digital advertising * FunFair (FUN), Jez San, online gambling
  - wild_preference 8y ago
    How is BAT not just a money grab? It could've been done with cash. New blockchain tokens just create speculative hype and make the creator rich. Also, how does blockchain help in its objective over any other solution beyond making the creator rich?
    - kinggfxx 8y ago
      They needed a way to bootstrap adoption and spread BAT tokens out into the wild. If they didn’t generate them they would have had to pay for something else and they didn’t have the money to do that.
    - atomical 8y ago
      The money raised is being used to build the product and hire talent. It isn't being used to enrich Brendan Eich personally. If you have evidence to the contrary please post it.
    - nostrademons 8y ago
      BAT's quite interesting game-theoretically because they're using the token to set a price on attention. When you view an ad on Brave, it's not a simple transfer of BAT from advertiser to publisher. Rather, some fraction of the BAT goes to the user, and then can be traded on an exchange for other currency. Because viewing ads is voluntary, and users receive a tradable token in exchange for it, it lets you put a price on attention. The idea is that below a certain price of BAT on the exchange, users won't find it worthwhile to view the ads, and so they won't, which limits the amount of BAT users will sell, eventually forcing an equilibrium. That equilibrium price is the value of the attention that ads cost them. The price then carries over to the amount that buying ads will cost an advertiser, and the amount that publishers receive for them. Basically, they're rectifying an externality by throwing a tradable token at the user: instead of advertising being a transaction simply between advertiser and publisher, it becomes a four-way transaction between advertiser, publisher, user, and Brave itself. None of this is possible without a dedicated currency, because the currency's other uses would factor into the market price, making it impossible to get a clear signal for how much users value having their attention taken from them.
- hanniabu 8y ago
  It's still early so it's difficult, but better infrastructure and tooling is being created to enable more potential and also make it easier.

notyourday 8y ago

You meant to say "Legit distributed public ledger projects". Care to name a few?

jeletonskelly 8y ago
I think there are several projects trying to solve this, but DLT can make an impact in secondary markets for privately held equity. Ownership is difficult to verify, settlement is complicated, and there are many rules that govern the transfer of privately held shares. Nasdaq Private Market has been using (or at least evaluating) DLT/blockchain since 2014 when it was SecondMarket. Harbor, Polymath, Securitize etc are sort-of making an approach to this, but it's heavily token and ICO driven.
- notyourday 8y ago
  You are describing a ledger. You are not describing a "distributed public ledger".

Daishiman 8y ago

I have yet to see a single blockchain project that's actually interesting and worthy of anyone's attention.

jeletonskelly 8y ago
I think secondary markets could benefit from a distributed trusted database with smart contracts. I also think that behind the scenes on wall street there are some interesting things around securities settlement, something that is very time consuming and it's handled with some antiquated technology. If securities trades are settled faster and ownership is more easily verified it could lead to some very interesting shareholder voting behavior. The problem with all of these is that it requires a deep understanding of the process and the nuances of the industry to build a DLT solution that works.
- kiriakasis 8y ago
  The problem with smart contracts is that you settle for a "all bugs are feature" solution.
- Daishiman 8y ago
  For any solution for settling trades, the one without the blockchain will be faster. And the use of electronics for trading systems where it makes economic sense is already a done deal.
  - jeletonskelly 8y ago
    I'm talking about inter-broker settlements. Like settlements of securities between large banks. The actual physical securities that are stamped and all that.
atomical 8y ago
* Basic Attention Token (BAT), Brendan Eich, digital advertising * FunFair (FUN), Jez San, online gambling
- wild_preference 8y ago
  How is BAT not just a money grab? It could've been done with cash. New blockchain tokens just create speculative hype and make the creator rich. Also, how does blockchain help in its objective over any other solution beyond making the creator rich?
  - kinggfxx 8y ago
    They needed a way to bootstrap adoption and spread BAT tokens out into the wild. If they didn’t generate them they would have had to pay for something else and they didn’t have the money to do that.
  - atomical 8y ago
    The money raised is being used to build the product and hire talent. It isn't being used to enrich Brendan Eich personally. If you have evidence to the contrary please post it.
  - nostrademons 8y ago
    BAT's quite interesting game-theoretically because they're using the token to set a price on attention. When you view an ad on Brave, it's not a simple transfer of BAT from advertiser to publisher. Rather, some fraction of the BAT goes to the user, and then can be traded on an exchange for other currency. Because viewing ads is voluntary, and users receive a tradable token in exchange for it, it lets you put a price on attention. The idea is that below a certain price of BAT on the exchange, users won't find it worthwhile to view the ads, and so they won't, which limits the amount of BAT users will sell, eventually forcing an equilibrium. That equilibrium price is the value of the attention that ads cost them. The price then carries over to the amount that buying ads will cost an advertiser, and the amount that publishers receive for them. Basically, they're rectifying an externality by throwing a tradable token at the user: instead of advertising being a transaction simply between advertiser and publisher, it becomes a four-way transaction between advertiser, publisher, user, and Brave itself. None of this is possible without a dedicated currency, because the currency's other uses would factor into the market price, making it impossible to get a clear signal for how much users value having their attention taken from them.
hanniabu 8y ago
It's still early so it's difficult, but better infrastructure and tooling is being created to enable more potential and also make it easier.