Blockchain for business
#1
A simple demonstration of how SA businesses can use blockchain technology

Very cool demo

https://businesstech.co.za/news/technolo...echnology/

#2
Delaware allows corporations to use blockchain to create & maintain transaction records

The “corporate capital of the world” has just made it legal for corporations to use blockchain technology for stock trading and record-keeping. At the same time, a digital currency trading platform has been authorized to provide clearing services.
On Friday, Delaware Governor John Carney (D) signed a bill that allows state corporations to “use networks of electronic databases (examples of which are described currently as 'distributed ledgers' or a ‘blockchain’) for the creation and maintenance of corporate records, including the corporation’s stock ledger.”

A Blockchain, also known as a distributed ledger, is a digital record of transactions between parties on a network.Traditionally, corporations have relied on intermediaries like clearinghouses, custodians, exchanges, fiduciaries, or banks to settle transactions. Each intermediary had to verify transactions with their own ledgers, which adds time and cost to each transaction.
With the blockchain, a ledger is shared among a large group of peers who collectively record all transactions digitally and validate transactions without the need for a third party. Since the blockchain is shared among such a large number of peers, who each maintain a complete ledger with a full history of transactions, and that record is constantly being updated, it would be nearly impossible to manipulate.
Without the need for a third party, a corporation can also verify transactions anywhere in the world without the need for any fees. Transactions that would take days or even weeks with traditional ledgers can be settled in minutes with the blockchain.
Introduced in March, the bill amends the state’s General Corporation Law, which is “the most advanced and flexible business formation statute in the nation,” according to the state's website.

The Delaware Economic Development Office claims that nearly 1 million business entities, including more than half of all US publicly-traded companies and 60 percent of Fortune 500 companies, have made Delaware their legal home.
The new blockchain rules will go into effect by August 1, 2017.

“LedgerX will be authorized to provide clearing services for fully-collateralized digital currency swaps,” the announcement said, adding that LedgerX “initially plans to clear bitcoin options.”

Paul Chou, CEO of LedgerX, said the CFTC announcement “opens the market to a much larger customer base.”

“We are seeing strong demand from institutions that previously could not participate in the bitcoin market due to compliance restrictions against unregulated venues. In particular, there is a desire for fund managers to hold financial instruments that are not correlated with the broader equity market, and digital currencies meet that need,” Chou said, according to CNBC.

https://www.rt.com/usa/397397-blockchain...ll-passes/

#3
People that can use the Blockchain will shape the future. Very exciting times ahead, especially if your an entrepreneur.
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#4
This is a game changer for investors since it drives costs down improves transparency and has better security. Nice to see the regulators slowly coming on board

#5
SEC declares digital assets can be "securities" under U.S. law

WASHINGTON (Reuters) - Wall Street's main regulator said on Tuesday that initial coin offerings (ICOs), a means of crowdfunding for blockchain technology companies, should be subject to the same safeguards required in traditional securities sales.ICOs have become a bonanza for digital currency entrepreneurs by allowing them to raise millions quickly by creating and selling digital "tokens" with no regulatory oversight.

But the Securities and Exchange Commission (SEC) has declared that the tokens can be considered securities, and therefore, may be need to be registered unless a valid exemption applies. The decision means that blockchain startups can no longer ignore investor protections, making it potentially more difficult for them to fundraise via coin sales. By mid-July, tech firms raised about $1.1 billion in 89 coin sales this year, roughly 10 times more than that in the whole of 2016, according to data compiled for Reuters by crypto-currency research firm Smith + Crown.

The SEC's decision was released in an investigative report into a virtual organization known as The DAO. The DAO was created in April 2016 by a blockchain solutions company called Slock.it.
A blockchain is an online ledger of transactions maintained by a network of computers which gained prominence as the technology that underpinned digital currencies such as bitcoin. The DAO was designed as a decentralized crowdfunding model in which anyone could contribute ethereum tokens to be a voting member and have an equity stake in the organization. Ethereum is another cryptocurrency.

Although it raised $150 million as of late May last year, an anonymous hacker later funneled $60 million of the tokens into a separate account. The SEC said in its report it has decided not to bring civil charges at the end of its probe into The DAO, but instead use the case as a cautionary tale for the market.

https://www.reuters.com/article/usa-sec-...SL1N1KG1XU

#6
^that is big
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#7
This is very big news...it basically means Cryptos and Blockchain will become more mainstream

#8
The SEC Ruling Should Be Positive, Not Negative For Bitcoin, Ethereum, And Litecoin

Digital currency traders have it wrong. The SEC ruling that treats digital currencies as common investments is positive, not negative for cryptocurrencies, at least for now.

Cryptocurrencies traded sharply lower on Tuesday, following an SEC ruling that cryptocurrency “IPOs” or Initial Coin Offerings (ICOs) are investments, and therefore, should be subject to the same rules as regular stocks.

That would certainly slow down the pace of ICOs and the money that flows into digital currencies, and therefore, cool off investor enthusiasm.

While this is true for new digital currencies on the ICO pipeline, it isn’t true for the existing digital currencies. In fact, the slow-down of ICOs will limit the supply of digital currencies at a time when they are gaining traction as a medium for exchange. That’s certainly bullish, not bearish, for such existing digital currencies, as Bitcoin, Ethereum, Litecoin etc.; and a short-term rebound should be imminent.

Still, governments consider digital currencies a threat to their monopoly on printing money. And the SEC ruling may be just the beginning of more regulations to come, undermining the very existence of legitimate digital coin exchanges.

That’s something investors should keep in mind before pouring more money into digital currencies.

forbes






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