/biz/ - Business & Finance

https://www.bloomberg.com/news/articles/2018-10-24/a-stock-exchange-building-out-blockchain-isn-t-buying-the-hype

https://r.com.pk/dta-asx-clarify-blockchain-expectancies-lack-unified-definition/

how many btc for this semen demon

>>11528030
he's talking about XRP

https://www.sibos.com/conference/2018/programme

"Delivering on the potential: Enterprise Ethereum in trade finance and payments"

Tuesday October 23rd, 15:15 to 15:45
"Souleima Baddi
CEO
Komgo"

>>11528113
unironically suck my dick and balls

>>11528046
Good find. Anons we need to be watching this Australian Stock Exchange project very closely.

As I said the other day, I SUSPECT that V1 of this project will NOT need and oracle BUT that it will provide a HUGE boost to smartcontracts adoption and THAT growth in adoption is very good for chainlink. What I've been able to find on this project is that FIRST use case will be clearing and settling stock trades. Assets are all, as far as I can tell, on chain, so THIS project, unlike, say, derivatives project, will not, I think need oracles, at least at first.

BUT, look at the way this guys is describing this. It is the OPPOSITE of blockchain hype. Clearly he is trying to distance himself from this. And stay on message -- this is nothing fancy, it's just about cutting costs and mistakes. That is EXACTLY what enterprise wants to hear about adoption of smart contracts. Smart Contracts take off when a punch of hardnosed CFO types see that they will cut costs by a factor of 100 or more.

MANY, not all, but MANY smart contracts need data from off chain -- e.g for a derivatives contract, and so growth of smart contracts is great news for chainlink.

He's talking about the Shintaku project

>>11528413
>Shintaku project.
that's the project where pajeets are growing mushrooms on shitting streets, right?

>>11528413
Thanks just bought 100k mushrooms

>>11528408
Here’s a real breadcrumb; watch the work of Standards Australia and in particular their blockchain team. They are going to be setting the rules around blockchain and smart contracts, and they are working with Digital Asset amongst others to shape them.

>>11528666
Think about what interests DA and Hyperledger have and then consider what sort of advice they’ll be giving Standards Australia. I wouldn’t be investing in centralized middle-ware, I’ll tell you that.

>>11528680
how do you invest in centralized middleware

>>11528680
>>11528666
this guy is on the right track. and sick digits

>>11528666
Thanks for this info, anon. I knew about ASX project but did not know about Standards Australia. Will look in to that.

>>11528780
>how do you invest in centralized middleware
If i'm understanding what other anon just said, then regular shmos like you and I CAN'T invest in centralized middleware -- it would be run by some quasi government/corrupt private entity. Whereas we CAN invest in decentralized middleware, i.e. chainlink. So, again if I'm understanding other anons point, it is GREAT news for us that Digital Asset and others are pushing Standards Australia to create standards that REQUIRE decentralized oracles.

>>11528854
>>11528666
follow up question for both you anons if you feel like answering it. Why is it AUSTRALIA that is embracing this right now. AFAICT, rep of Australia is (1) super awesome quality of life (2) but NOT hard drivers eager to innovate much. Could be wrong and not hating on them, just that's what i thought. Doesn't surprise me that Singapore is jumping on blockchain but still surprised that Oz is getting out in front of the pack.

>>11529090
Australia has a history of innovations in fintech. They opened one of the first digital asset exchanges, even before nyse switched to digital iirc.

>>11529182
>Australia has a history of innovations in fintech. They opened one of the first digital asset exchanges, even before nyse switched to digital iirc.

interesting. Didn't know that. Thanks.

>>11529010
Phillipa Ryan, check out where she has been in recent months.

I always wonder why so many people are sleeping on this?

I always wonder how so many business elites never mention Chainlink?

I always wonder if it’s under the wraps or never even discussed.

I always wonder why I participate in an echo chamber who blows a tiny internet concept up to be something way bigger than itself.

I always wonder how market research firms at top Fortune 500 companies haven’t identified the need for decentrialized oracles (don’t say Salesforce)

>>11529182
>>11529090
Financial services in Australia is really competitive right now, they’re all looking for a leg up. I was with NAB in 2015 when they had Ripple Labs on site (nothing came of it kek).
We also have a really unique banking and payments system from a network standpoint, so I won’t bore you with the details but it makes Australia a good testing group for fintech.

>>11528780
It was a joke, sort of.

>>11528030
no

>>11529423
does it matter? wait until this circular, mind-bending, schizophrenic type of thinking breaks out of biz and infiltrates normie land. they have no defenses, this shit will pump simply on that.

>>11528030
8 views huh?

>>11529404
>Phillipa Ryan,
Saw her speak at Stanford Codex Legal Innovation Conference Last April and she was pretty impressive.

Regulatory/ Standards Setting could be MAJOR part of smart contracts adoption. Didn't think of it before, but could even imagine regulation re Oracles, and standards for decentralized oracles. Who knows, just speculating. Actually the idea of Oz playing a leading role in setting global standards for blockchain/smart contracts is pretty reassuring DESU. You guys always complaining that your gov't has its head up it's ass, but relative to the rest of the world it's pretty fucking competent and not corrupt. Also, I'm a Californian so what do I know, but Oz gov't seems LESS in the pocket of big banks, unlike US where BOTH major parties seem happy to fuck over the taxpayers and bail out the big banks.

Actually this is making me even more bullish.

>>11529642
Yeah dude, ISO20022 adoption is going to have huge implications for how far reaching Chainlink can become

>>11528030
should i all in on chainlink right now/?

>>11529903
Yes

>>11529641
were living in a time where the future is being described often vividly and specifically at these tech conferences, and no one person can consume it all, so we have this odd sort of tragic situation, we have all the answers but its lost in this slush pile of redundant jargon, business speak, etc. No one person can consume it all. Ironically, or rather fitting, the only way to get a hold on it is the approach that biz has sort of developed/adopted. Which is essentially decentralized research.

>t.a drunk anon but not THE drunk anon obv

>>11529903
Yes

>>11529930
if trips

>>11529642
Please, please, please stop trying fool people into thinking Australia is something it's not. Australia has a pathetic state of government that is absolutely sucking the dicks of our banking sector who will do whatever it takes to make sure they will never fail.

>>11529851
>Yeah dude, ISO20022 adoption is going to have huge implications for how far reaching Chainlink can become

Been following smart contracts closely for many months and hodling chainlink since last October, but didn't even know wtf ISO 20022 was.

Just skimmed the 2016 report from swift "Distributed Ledgers, Smart Contracts, Business Standards and ISO 20022"

Ctrl-f "oracle"
"since the result of each node’s computation needs to be identical, any data used in computation needs to be available identically at every node, which implies that it has to be available on the ledger, provided by a client application or ‘oracle’.

It’s therefore important to think carefully about
the data required by a smart contract to do
its work, in addition to the data that might be
shared with the participants in the business
process."

Um, ok fuck me this has been staring me in the face the whole time but I didn't see it. There is going to be a fucking standard for smart contracts, that basically all financial institutions are going to have to use. Several of exchanges are currently developing smart contracts/DLT platforms, with ASX in the lead but others coming up as well. (Just saw that Hyperledger did some kind of POC with German exchange)

So, they are completing a standard, and I think chainlink will be the only solution that complies with that standard. In fact, wasn't there speculation that SWIFT basically set up Nazarov to spin off a separate company because they couldn't do it in-house?

Fuck me. so this says
1) big finance embracing smart contracts
2) standard coming for oracles in smart contracts
3) only ONE project that can fulfill this standard, (in fact, possibly the project was launched by the standards makers, i.e. swift, precisely to be the one project to embody the standard
4) and right now this project is barely known outside this bizarre corner of the internet.

I, uh, fuck me. This might actually fucking happen.

>>11530132
>outside this bizarre corner of the internet.
we're not though. you're all from reddit and go outside and talk to people. /biz/ is as normal as pudding cups. shit posting doesn't change that.

>>11529950
>Ironically, or rather fitting, the only way to get a hold on it is the approach that biz has sort of developed/adopted. Which is essentially decentralized research.

I've reached the same conclusion. I am a lawyer and I'm all in trying to research this shit. I am scanning everything I can, and fuck me if biz is not head and shoulders above every other source. Meanwhile it's also full of lunatics typing nonsense rhymes like something out of HP Lovecraft and literally throwing shit against the walls.

>>11530174
Once you're here long enough you're able to sift through the shit to find the nuggets.

>>11530174
It’s Darwinian

>>11530132
kek how the FUCK do you have chainlink since october but not know about iso20022. come on dude. lol

>>11530132
Asked yourself what sort of incentives SWIFT have with respect to data quality standards. They have done a POC with SmartContract and had them present at Sibos, makes sense to me that they would push the standards to embody the POC. This is why Digital Asset (and others) have been pushing Standards Australia to do the same.

>>11530094
Everything you just said is besides the point. We have a ‘live’ banking environment whereas every other developed country has the opposite, due to some clever investing in the 70’s. This means companies demo banking shit here in Oz.

I research this shit day and night and I'm going crazy with how obvious it all is. When the lid finally blows open we are all going to be rich. It's just a matter of when.

>>11530210
Or the corn

>>11530313
the thing is its not as obvious to many. you need a higher iq to understand it. there are some moving parts and you need to understand the underlying technoligies (smart contracts/oracles (centralized vs decentralized)) to get it. thats why normies could give a fuck. its not a "coin" and you cant spend it so why invest in it. its literally pure b2b meant to improve efficiencies and costs for billion dollar enterprises (running on old sluggish legacy tech) and when they hear that it sounds boring as fuck

>>11530337
Yet in simple terms it's quite obvious. Blockchain is getting used because it allows contractual automation, but cannot connect to non blockchain data. The whole point of oracles is easy to explain to a brainlet.

Thanks. Just put 100k shrimp on the barbie.

>>11529423
It's too early. Smart contracts are still a meme but won't be for long.

>>11529950
Interesting ngl.

>>11528046
this is exactly what drunk anon was talking about 3 months ago.
fuck, $1000k eoy is fud.

>>11530278
>kek how the FUCK do you have chainlink since october but not know about iso20022. come on dude. lol
to be fair, the iso20022 angle hasnt been relentlessly shilled on here in the manner you would expect. it's been mentioned, but you'd have to camp on the forum 24/7 to make sure you didnt miss it.
it's ironic that arguably the most important aspect of LINK's use has been more or less overlooked so far.

>>11530174
Hint: SOCIAL DARWINISM.

People will read these threads and be mindfucked in 5 years. I honestly don't blame them. I almost don't even want my net worth to be associated it to it (but deep down do)

>>11530604
peepeepoopoo and the memes are just because we're bored af and everyone who was shilled LINK end of last year are already sick of waiting. im on this godforesaken website more than I should be but one day I'll thank myself for it. once your here long enough, like another anon said, its easy to catch the nuggets of truth and identify the shills trying to sell a quick pnd.

>>11530636
Jesus fucking christ
Mah heart
Mah Soul

>>11530582
It's very dry, like thinking about building codes or something. You can intuit that messaging standards are important but nobody talks about them except autists and they're not very exciting.

>>11529903
you haven't yet, anon?
>>11530132
>2) standard coming for oracles in smart contracts
Oracle standard? hmmm don't think so. We will still need a centralized oracle to pull data. IBM wants to track a tomato, that tomato info will be pulled from a singularized oracle. No need for decentralization in that scenario. Anyone prove me wrong?
>>11530174
>full of lunatics
Girl. You're such a newfag. welcome to the club anon ;) you're name is robert paulson.

>>11529950
Fuck yes.