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Issuing money by global central banks is a great opportunity for stablecoins," says Digital Gold Advisor Dr. Walter Tonetto

Issuing money by global central banks is a great opportunity for stablecoins,
Last week we talked with our adviser and CEO at Nusantara Trust Dr Walter Tonetto. He answered a number of questions that interest our customers.
How did you land in the cryptocurrency / blockchain space?
I was advising startup businesses in the technology space, and when 2016 came around, I asked Scotty, the feisty chief engineer of the U.S.S. Enterprise, to beam me into the heart of the finance system; I felt more and more the irresistible tug towards remodeling the current toxic financial system. Purposive remodeling, of course, is going on all the time, and it’s a knife that cuts into two directions. The vast majority of the ‘woke’ crowd actually believe that they can ‘disrupt’ the power of the elites that control all money flows. Bathing limestone statues – registering about 4 on the Mohs scale and 0 on the scale of reason -- of past leaders in district waters may give you a feeling of breathing the air of revolution and tiring unknown muscle-groups in your shanks, but think of it like a father watching his child toss around shovels of soil in a sandbox; he smiles benignly from afar, knowing it won’t change a thing; all the luxurious appointments at home won’t get touched. It is a grave illusion to suppose that by playing around with payment systems and technologies we will actually change the role and the emission of money. You may be permitted to become the shoe-shine boy in the royal household, but don’t think you will marry the princess and dilute the royal blood! But understanding the constitutive parts of power aggregation, and working over significant time-frames, allows for approaches and solutions; -- but these should come not from another adversarial position, thus merely marking a displacement of the incumbent, a change of guard, but from an authentic re-orientation, of making benefits much more widely possible and not creating monetary systems that are grossly imbalanced and highly destructive. That, and not building tech stacks, is the challenge!
What was your initial reaction to bitcoin?
Well, I was following the file-sharing service Napster since it started, around 1999 – when the U.S.S. Enterprise was sitting pier-side at Huntington Ingalls Newport shipyard, rusted and gutted, and to me the P2P sharing paradigm was always present in my mind, shining buffed and radiant, so even the centralized Napster was something wholly natural to me – Dr Sheldrake calls it morphic resonance. We live with a great deal of blurriness, though. On the one hand, we think of the virtues of sharing; on the other, there is a seemingly indefatigable impulse to control and dominate. Sean Parker, after founding and floundering with Napster, became a cocaine-snorting egotist and president of Facebook. Collecting money for a charity, he gets aggressive with people who do not follow suit. A control-freak in overdrive. Notwithstanding the technical variations, BTC, seemingly freeing us up from fiscal controls and yet showing our craving for money, exemplifies the flawed perception at the root of things. Monero, which sounds like a much faster, highoctane vehicle, a CV8-Z of the crypto-track, beats BTC in regard to privacy and fungibility, though BTC has advantages in other areas.
Which is a much more common trend nowadays?
It’s hard to make out the shapes of wild-life in the current kangaroo market we’re in. The bulls and bears have mauled one another, and the kangaroo, bereft of oxygen on account of wearing a tight mask, is hopping wildly everywhere. But clearly the possibilities of digital currencies became un-tethered via Bitcoin and the querulous and hidden Satoshi. I like to think of him more as an idea rather than as a person; an idea is generally more malleable and consequential. For instance, rather than laud the benefits of crypto for FX and cross-border payments, the possibilities of a central-bank issued digital currencyENCOMPASS THE POTENTIAL to inscribe new roles for programmable money; for how money is issued, how it is used, and what role custodial mechanisms (traditionally in the hand of commercial banks) might have. I see HUGE potential for private firms to enter the equation here, but we need more open-minded and intelligent regulators that do not always look for the rungs of the career-ladder in any move they make! A DAO could be most helpful here, but we are currently under the terror of algorithms that are not concerned with the welfare of the greatest number of people. If I had the time I would coauthor a book on this theme with a skilful mathematician (perhaps with my son, who is completing a Ph.D in near-term Quantum Algorithms).

In 2018 I was keynote speaker at the BlueWhale forum in Seoul, and I spoke about an Algorithm of Peace. I had a clutch of people approach me straight after the talk, some from Korea, others from the U.S., and ask me to develop my ideas in book form.
Where do you see the price of bitcoin going over the next few years?
I wouldn’t speculate, but since everyone is shilling it, it is bound to keep pushing north, occasional blockages otwithstanding. I always look for twists and incongruities in the usual narratives on offer. Many BTC fans talk about the unbanked, but BTC is held by what will become another elite in due course, and the unbanked will later be serving them the chilled drinks between innings, as usual.
Do you think that there’s a time for altcoins to break out and move away from the movements of bitcoin? What’s that tipping point that needs to take place?
I have some notions under which alt-coins can take the lead and leave bitcoin behind, but it’s too complex to explain the conditions for that to occur. Once very solid use-cases have been established with a clutch of alt-coins, bitcoin might begin quavering in his boots. That alt-coins should take BTC as a benchmark speaks volumes about the lack of maturity of this young and over-eager market. The fuzzy umbilical cord is always present like a foot-tangle; alt-coins must find their own ground, and clip the connection to a vagrant father. Finance needs clarity and not fuzziness. Keep in mind that many sovereign nations bridle at the calamitous influence of the US on payment systems, so nations are building their own messaging systems outside SWIFT, and their own securities exchanges are following. But remember: these are all crumbs: the U.S. can shut down payments to any recipient accounts by informing the payments company and doling out threats. And since all alt-coins and fiat currencies are connected to payment gateways in some form, the U.S. would have to begin reforming its archaic ACH structure to enable efficiencies in the financial pipes, which does not offer real-time payments functionality. This accounts for the relative simplicity (and success) of the PayPal business model (which Venmo and Dwolla later emulated without using credit cards). But understand that the elites will always protect the real crown jewels, and incite wars (or street battles and racial squabbles, as we’re witnessing in the U.S. in mid 2020) so that they can get away with major financial heists in broad daylight. It’s all smoke and mirrors, and scorched talons if you look closely: you cannot trust the reflection you will receive on a smoky pane. Only the big players know the predetermined outcome.
One fundamental misprision occurs amongst alt-coin apologetes: they fail to understand how markets move and what the designated role of money is in markets. Even if you want to displace something, you first need to understand exactly what you’re dealing with, but that is rarely the case. Yes, banks are structurally and constitutionally part of the problem, but no government will dare cross swords with them: there is still too much aggregated power. Ripple and Stellar are two Blockchains that are working with, and not against, banks, and that likely makes them much better candidates for wide acceptance.
What’s one must-read book you recommend to everyone?
That depends so very much on who’s sitting opposite me! I wouldn’t push what is not naturally aligned. But I would push a couple of films urgently, as essential viewing for everyone:
“Vaxxed: From Cover-Up to Catastrophe” (and a sequel), which profoundly shocked me, but confirmed my suspicions. Talking about books: one gets a good sense of the kind of books I would counsel people not to touch, unless an overweening impulse bade them otherwise. For instance Steve Pinker, a favourite author of Bill Gates. Pinker in Gates’ hands explains a lot about the character of the reader, the latter of whom I consider one of the most dangerous people on the planet at the moment. If we stay with Pinker for a moment, since he’s famous and fashionable (Harvard professor with a Medusa hairdo and an effete libertarian air, who in “Better Angels of Our Nature” has affirmed that man is not innately good), we note in his presentation in regard to his ineptly titled book “Enlightenment” that he falls prey to the very flaws he chastises, the classic Münchhausen trilemma (in Jakob Fries’ phrase). Picture Baron Münchhausen pulling himself out of quicksand by his own hair! That he is beholden to neoliberal befuddlement becomes clear when two of the opening images of his talk show Vladimir Putin with a rifle andDonald Trump speaking on a podium. The classic neoliberal Harvard think-tank shows reason to be failing and drowning in pious gestures to the cognoscenti and anointed. I like to look for effective counters for specious and shallow argument: for instance, Rupert Sheldrake’s “The Science Delusion” is a splendid book that bucks the Dawkins’, Pinkers and other materialists of this age. You see, if one listens to Pinker with the head alone, his pedestrian epistemology might not irk, and some ideas might appear plausible enough in a desultory encounter, but if you really want to know the meaning of things, and discover how it relates to the heart, you feel betrayed and given short shrift by him. Among the platitudes he gives out in carefully parsed syllables, the movement of his forehead and eyes betray the spirit behind the façade. Yet I always look, like Yeats, for those who “had changed their throats and had the throats of birds”!
What’s the rainbow trout of the year? Nut-like flavour, the eye still gleaming, with tender, flaky flesh? There are many books I could cite for different genres. The vast majority of modern writers, for all their accomplishments, lack genius, don’t really understand the art of writing, and so cannot hold my attention for long. For those who are open-minded and spiritual, “A Course in Miracles” cannot be bested, but don’t touch it unless you’re really willing to dive deep. There is no need to save the world, since it is nothing but projection; there is no world. You might experience the deepest sigh of relief, as if Atlas had cast off a burden after the Titanomachy. Paul Celan once remarked that “reality is not simply there, it must be sought for and won.” Snorkeling near the surface and blowing bubbles won’t cut it.
We are living in times of great manufactured unrest, which will only heighten in coming months and years, and so I would offer a guernsey to Seamus Heaney. I had met him many years ago, alas cursorily, at a symposium at Waseda University where I was working as a Gaikokujinkoshi, an Associate Professor, where another Nobel laureate, Kenzaburō Ōe and he were giving a reading. Heaney was inspired to write “The Grauballe Man” on the basis of the bog man that he had seen in a book of prehistoric times, but the troubles in Ulster were alive in him, too:
As if he had been poured in tar, he lies on a pillow of turf and seems to weep
the black river of himself. The grain of his wrists is like bog oak, the ball of his heel
like a basalt egg. His instep has shrunk cold as a swan’s foot or a wet swamp root.
Talking of Japan here, methinks, is an aculeate observation of Japan:
Cross the intersection at Shibuya Station in Tokyo on a forbidding wintry evening — touted as the world’s busiest cloverleaf — and you will feel this is Eliot’s London Bridge revisited, with quaggas (think half zebras) preserved in the tar of the five crossings; — flattened ebon bones dreaming the dreams of Pleistocene mammoths — as the mass of the dead mill past you, chasing some mirage, and often accompanied by a revenant that must have been disgorged from a Pachinko parlour. Blanched lilacs float in minarets of light beyond these bituminous quaggas, bidding the odd-toed ungulates in their psychotropic dernier cri and fuddy-duddies in theirstygian suits to sup here or buy over yonder: all tethered to their devices. One might be surprised that no cracks are forming at these arced crossings with strange requisitions folding into the hiemal air. And yet it is still more odd that so few people see this as a primped and pimped potter’s field, a graveyard for those who’ve lost their way. We’re living in an age where the multitude of the dead are pacing among us in perdurable trysts with other zombies.
The above text is from one of my unpublished works; again it speaks to me – and perhaps to you – about the quiddities of this age. There is a distinct sense of zombification taking place on the planet at the moment. Is your lineage that of Dolly, or are you magnificent and free?
Do you have any theories about who Satoshi is?
I don’t really, though I follow the haughty chit-chat at times, especially in the jejune forums LinkedIN provides. I think the person has a good reason to remain concealed (forever), but that is also a major factor why I have never fully trusted bitcoin as an investment proposition.
Keeping the provenance concealed suggests a number of things, none of them conducive to embracing bitcoin as a common form of payment.
What do you think about the prospects of gold in connection with the uncontrolled money printing by different Central Banks?
Gold is what BTC can never become, especially when its provenance remains totally unclear – as well as its likely endgame! Central Banks engage in quasi-criminal activity – and one hopes the future prudent regulator won’t be making it too difficult for people to hold gold bullion. The Perth Mint might be a splendid little dot on the global map, but beware of holding your assets in the form of gold coins: many governments will regard them as forms of payment, and may impose all manner of restrictions on the possession of it.
Let's dream a little. How stablecoins can be used after 5 years from now?
I believe the great RESET is coming – even Davos and the U.N. are alerting us to that. The Covid19 panic has been declared by more than 1500 German physicians as a “global Mafia-style deception”, and while Big Pharma and Bill Gates will likely earn trillions of dollars by the useless and potentially dangerous vaccines that will be foisted on “free” citizens, the finance system as a whole will need to be RESET. We are already receiving an inkling of how draconian and void of reason and concern for the people most governments of the world are reacting to a harmless lab-manufactured virus (virologist Prof Luc Montagnier, Nobel Laureate in medicine in 2008, said that), so it’s possible that regulators may become more tyrannical, and under some pretext or other forbid the use of alt-coins. STABLECOINS can be over-collateralized, allowing absorption of pricing fluctuations, but it will be hard to call. I believe many are bound to fail, and that even earlier, despite all their most valiant efforts: as soon as the RESET comes, which is likely to come with all manner of encumbrances. There are many reasons for the issuance of stablecoins, some having opposing views, but all are dependent on trust – and we don’tknow yet if digital currencies that governments will issue will by regulatory over-reach (including absurd compliance requirements) displace other contenders, but you can assume that the tyrannical forms of governance we are currently experiencing suggest that all kinds of skullduggery are possible.
Do you see the problem of fiat stablecoins in the fact that annual inflation constantly depreciates them? An investor who bought $1000 USDT now and sold these tokens in 10 years for $ 1000 will receive much less money.
The problem occurs if we’re converting things back into payment forms that are fundamentally flawed. Inflation and Black Swan events are the major threats to stablecoins, and tethered crypto-values to natively burdened propositions recalls my earlier idea that we have not yet cut the umbilical cord to bitcoin. On the other hand, stablecoins in their current flavour are perhaps best viewed as transitional schemata that will need later revisitation.
You are a very successful Crypto and ICO Advisor, what is the secret behind this success?
I’m not sure if I’m very successful, but I always try to shoot a straight ball. Here are two instances where my input has not been heeded in any way.
I recall one of the first ICOs I advised. I was sitting with the owner on a Telegram Channel, and after some power Q&A sessions online, we were literally hearing the millions of dollars tumble in neat digital hashes into the inbox within a couple of hours of the ICO opening. He had a bottle of Scotch on his table, and by the end of the session he had reached his hard cap and was besotted to boot! The age of digital money had placed the foolscap on his pate, but the script was no longer legible. I cannot determine if his sobriety ever returned. The prudential advice I had been giving him previously – and that we had discussed in great depth -- was over coming weeks thrown out of the window, and I assume other bottles of Scotch ended up on his desk and didn’t last long.
Here is another example. At one time a well-known ambitious individual in the U.S. cryptospace, a young lawyer, asked me if I wanted to start a crypto compliance organisation with him.
When I think of him now and the feathery assistants he congregated around him, I think of the lines in Dickens’s “Bleak House”: “Mr. Tangle’s learned friends, each armed with a little summary of eighteen hundred sheets, bob up like eighteen hammers in a pianoforte, make eighteen bows, and drop into their eighteen places of obscurity.”
Simply to continue serving wine from the same sour vats won’t do. I saw that as a prospective idea, and offered some important advice to get the ball rolling. Soon we had recruited many eager beavers to the exercise, and there was talk of it becoming an influential body. I was naïve enough to assume at the time that my co-founder, a black college asketballer with body tattoos who had a write-up in a major paper on account of his ambition and aggression, was actually interested in asking some fundamental revisionary questions about compliance in relation to the freedom of the citizen. When I suggested we don’t just copy the traditional compliance template and rather probe more deeply, he became insolent and very aggressive. That confirmed my instinct that most ambitious players in the crypto-space are actually dyed-in-the-wool bourgeois, and don’t care about improving the system itself.
What is your advice for upcoming Crypto startups and investors?
You might know the technology well, but do you know the business? Does it really deeply address, even solve, a problem? How much life experience do you have, and how well do you know the market? Can you create a market for your product or services? If yes, how will you do that? Have you only got yes-men around you, or are you willing to listen to those who speak Tacheles to you? If you’ve come to water the plant of your ego, your business will flounder. Most achievers keep their ego initially in check, and get the work done.
For investors the answer I would give is rather complex, but here’s a brief response: often the mandate of investors is very narrowly girded, and they trust their old boy networks, and rarely venture out and follow their instincts. That is foolish, and also the recipe for a dull life.
Perhaps a general observation that everybody might ponder with profit is the idea that we know really so very little of the world; that the news and information we are are offered and digest, even when it is tendered by so-called ‘experts’, is often seriously ignorant. It seems our perspective is getting narrower all the time, as if our mind is shrinking and we block out knowledge.
Let me give another current reference point. In 2020 everyone is fearful of viruses. Viruses currently have a bad rap! We have no idea what they actually are. We are always hobbling around with our fearful partisan gaze, and what is good today becomes bad tomorrow. Yet viruses are adroit and malleable messengers of inter-species DNA, in some sense regulating vast populations of organisms. Think of them as cellular simpletons: mere protein shells with few genes, but endowed with the ability to replicate easily despite their paucity of genetic instructions! They form alliances, you might say, with other forms of life. And they are deeply mysterious to our acquisitive and ignorant segmenting intelligence: how can the papillomavirus cause horns to grow on rabbits; and at the same time cause hundreds of thousands of cases of cervical cancer every year? Is one good and the other bad? It would seem so. Such simple summary, like Pinker’s reductionist view of the world, might becalm for a moment, but does not offer lasting satisfactions. To read the world along the axes of like and dislike, as the Buddha had warned us, leads to great suffering.
I’m told by someone who met Bill Gates a long time ago that the man was apparently even then obsessively fearful of viruses (imagine a pendant to Lady Macbeth, continually cleansing his hands). But do we have any clue what viruses actually are, and how they benefit us all in so many incalculable ways? When the child crawls around, it picks up antigens (bacteria and viruses) and on that basis builds its immune system. At various points of that contact and exchange new forms grow, and other forms decay and die. Like CO2, viruses are suddenly declared dangerous and that we need to shield ourselves against them. Yet how many people know that marine phages rule the world, and rule the sea? This was not discovered until 1986. An electron microscope showed that every litre of seawater contained up to one hundred billion viruses, almost as much in dollars as BillGates expects to make off vaccines in 2020. If you put these viruses end to end, they would stretch out forty-two million light-years! Viruses offer stunning genetic variety, and they are the very pulse of life! When viruses swallow oceanic microbes, they release a billion tons of carbon every day: imagine squalls of marine snowfalls, powdering the porous sand of the deep. Imagine the white nights of St Petersburg under water, celebrating the magic of life with the same skill and abandon as the Mariinsky Theatre, to an audience of gastropods, deep-water fish and lovelorn mermaids.
Seamus Heaney, when he passed in 2013, spoke the word Noli timere (“Do not fear”) to his wife as he breathed his last. Instead of being fearful, we might do well to assert that we understand nothing of the manifold wonders of this world! Let us cultivate the virtue of wonderment, and fear will find no habitation in our house:
And lonely as it is that loneliness Will be more lonely ere it will be less— A blanker whiteness of benighted snow With no expression, nothing to express.
They cannot scare me with their empty spaces Between stars—on stars where no human race is. I have it in me so much nearer home To scare myself with my own desert places.
Website : https://gold.storage/ Whitepaper: https://gold.storage/wp.pdf
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Over the past 100 days, Grayscale has bought every third bitcoin

Over the past 100 days, Grayscale has bought every third bitcoin

Over the past 100 days, Grayscale has bought every third bitcoin
The Grayscale Investments cryptocurrency investment fund acquired every third bitcoin mined in the last 100 days. And in April, the fund bought 50% of all ETH mined. At the same time, despite the financial crisis and the fall of the cryptocurrency market in March, shares of Grayscale crypto funds in the first quarter of 2020 attracted record investments, which indicates a growing interest of institutional investors in the crypto industry. Why does the company need so many coins, what is its current position regarding the crypto market and what role does it play on it?

Grayscale Investors Believe in Bitcoin

Grayscale Investments, a subsidiary of Digital Currency Group (DCG), owner of the famous crypto media CoinDesk. The investment fund is the largest institutional holder of bitcoin. The company’s main product is the Grayscale Bitcoin Trust (GBTC), with which accredited investors can earn on bitcoin without actually owning it. Grayscale Bitcoin Trust tracks the price of bitcoin based on the TradeBlock XBX index.
Grayscale accumulates Bitcoin on an impressive scale. Reddit user under the nickname u/parakite noted that the fund added 60,762 BTC ($548.3 million on the day of publication) from February 7 to May 17. This is a third of the total number of bitcoins mined over the past three months.
The user made a table showing how the number of bitcoins in GBTC changed:
https://preview.redd.it/lb4nzuxvg9451.png?width=364&format=png&auto=webp&s=72b699f4b4c15a5b596e4030747c9ca574ee49f0
As you can see, the procurement rate of the MTC fund has been increasing since the end of 2019. GBTC has become more aggressive in its acquisitions since early April before the upcoming halving of the Bitcoin network. About 34% of the 60,762 MTC were purchased 17 days before the reduction in remuneration to the miners.
As of May 17, GBTC under management had a total of 343 954 BTC. This is 21% more than the 283,192 BTC held by the fund 100 days earlier. In value terms, the portfolio grew from $2.77 billion to $3.37 billion.
“Grayscale is just one of many, albeit the largest, ETFs that people use to buy bitcoin, not wanting to mess around with private keys and other problems,” commented u/parakite. — There is a demand for it. The supply is declining. Let’s see where we will be in 100 days.”
88% of Grayscale customers are institutional investors. Most likely, the sharp increase in the pace of the purchase of military-technical cooperation in addition to the last halving is due to the desire of investors to hedge risks during the developing crisis.

GBTC stock price over the past year, according to Yahoo.Finance. The price of shares (shares) of GBTC does not coincide with the price of the MTC, it depends on the mood of investors and can be traded with a premium or a significant discount. Usually it follows bitcoin, but sometimes the trends diverge. So, the difference between the July and current MTC rates is 20–30%, and between the same GBTC shares it is about 70%.

Grayscale also bought half of ETH mined in April

Aggressive Grayscale crypto purchases have recently been spotted with respect to ether. So, by April 24, the company had bought about 756 539 ETNs (accurate data are not publicly available) for its Ethereum Trust fund. This is about 48.4% of all 1.5 million coins mined since the beginning of this year. As a result, the company already owns 1% of all coins in circulation and only increases the pace of purchases. The first user to notice this was Reddit under the nickname u/nootropicat.
According to the latest quarterly report by Grayscale, the flow of investments in ETN reached a record level for the first three months of 2020 — $110 million. This is a very sharp increase, given that total investments in ETN for the previous two years amounted to $95.8 million. The total demand for the Ethereum fund grew over the quarter is almost 2.5 times compared with the fourth quarter of 2019.
From the beginning of the year until the end of April, the company issued 5.23 million shares of the fund at 0.09427052 ETN apiece.
At the same time, shares are traded with a premium of 420% relative to the current price of the coin — $92 against $17.70. That is, investors are willing to pay extra pretty much not to deal with cryptocurrency on their own.
Most likely, the increase in the rate of purchase of the coin is associated with the upcoming upgrade of the network to the state of Ethereum 2.0. It can take place at the end of July, but, most likely, it will happen not earlier than the end of the year. After the upgrade, the network will become more scalable and there will be the possibility of staking — validators will be able to receive passive income for providing their funds to confirm the blocks.
The crypto market, by the way, is also preparing for the transition of the ecosystem to a new stage. ETH has grown 55% since the crash in March, from $110 to $202 on the day of publication. At the end of April, CoinDesk drew attention to the increase in the number of long positions in ETH futures — this indicates expectations for further growth of the coin.

Last quarter — the most successful in the history of the company

In May, Grayscale released a report on the results of the first quarter of this year. “Despite the decline in risky assets this quarter, Grayscale’s assets continue to approach record highs, as does our share of the digital asset market,” the document says. And this despite the coronavirus pandemic, the global recession and the traditional cryptocurrency market volatility.
A record $503.7 million investment was raised in the first quarter. This is almost twice the previous quarterly maximum of $254 million in the third quarter of last year and accounts for 83% of the total capital of $1.07 billion raised for the entire 2019. New investors accounted for $160 million of raised funds. The main products of Grayscale Bitcoin Trust and Grayscale Ethereum Trust raised $388.9 million and $110 million, respectively. It is noteworthy that the company reduced the premium on stocks of funds relative to the price of assets.
88% of investments came from institutional investors, among which hedge funds prevail; 5% — from accredited individuals, 4% — from pension accounts (yes, pension funds are extremely conservative in nature, but also invest in bitcoin against the background of a decrease in the profitability of other assets); 3% came from family offices, and 38% of customers invested in several products at once.
It is noteworthy that two years ago the share of institutional investors was about 50% — it is obvious that they no longer consider bitcoin as something criminal. “Many of our investors see digital assets as medium and long-term investment opportunities and the main component of their investment portfolios. Quarterly inflows doubled to $ 503.7 million, demonstrating that demand is reaching new peak levels even in conditions of “risk reduction”, the document says.

Today, more than 46.5% of the inflow of funds was attracted from multi-strategic investors. Crypto investors accounted for only 11.2% of the inflow, according to the report.
Grayscale currently operates ten cryptocurrency investment products targeted at institutional investors. They cover PTS, ETN, ETS, BCH, ZEC, XRP, LTC, ZEN, XLM. The value of the assets under his management is more than $3.8 billion. GBTC is the most demanded product, most investors invest in it and it takes about 1.7% of the total volume of circulating bitcoins.

Aggregate quarterly flow of funds to different Grayscale products. Pay attention to the growing share of investors diversifying portfolios with products tied to altcoins.
Since January of this year, the Grayscale Bitcoin Trust has been registered with the US Securities and Exchange Commission (SEC). According to it, the company provides quarterly and annual reports in the form of 10-K. The status makes it possible to sell shares of a trust in the secondary market after 6 months, rather than 12, as before, and also increases the confidence of conservative investors. Other products comply with OTCQX reporting standards in the OTC market and are approved by the US Financial Services Regulatory Authority (FINRA) for public offering.

Amount of assets managed by Grayscale as of May 20, 2020.
It is noteworthy that the news about the success of Grayscale comes amid news of how panicky investors in traditional assets are fleeing from market turmoil. So, the largest fund managers — BlackRock, Vanguard and State Street Global Advisors — lost several trillion in capitalization of their assets, and BlackRock in the first quarter for the first time in five years saw a net outflow of funds from its long-term investment products.

Bitcoin is the best asset for hedging portfolios in crisis

At the end of April, Grayscale also released a separate report on the analysis of the impact of regulators during a pandemic and the crisis caused by it and how it affected the bitcoin and cryptocurrency market as a whole.
The document said fiat currencies are at risk of devaluation as central banks print more and more money. Even the US dollar, which is the world’s reserve currency, risks being devalued if the US Federal Reserve continues to print the currency in trillions. A decrease in interest rates to zero and negative values deprives government bonds of the status of “safe haven” during the crisis.
Therefore, investors are trying to diversify their portfolios with alternative instruments. Cryptocurrencies are the best choice for this, according to the authors of the report. The text emphasizes the historical significance of gold as a global standard, but it is noted that in the modern digital world it is becoming increasingly burdensome for investors — it has complex logistics. Bitcoin seems resistant to the problems that other assets face. Therefore, in times of economic uncertainty, the first cryptocurrency is one of the best assets that investors can use to hedge their portfolios. The coin performs better than any other asset, including fiat currencies, government bonds, and traditional commodities like gold. The authors of the report emphasize that Bitcoin has already begun to show signs of becoming a protective asset.
At the same time, the company believes that bitcoin is an excellent asset not only in times of crisis. So, in December 2019, Managing Director of Grayscale Investments Michael Sonnenshine said that the company expects an influx of investments in bitcoin after the transfer of $68 trillion of savings between generations in the next 25 years. Today, this capital is invested in traditional assets, but a significant part of these wealth millennials will invest in cryptocurrencies. Already, according to him, investments in GBTC are among the five most popular among young people, ahead of, for example, investments in Microsoft and Netflix.

Finally

The unprecedented financial measures taken by the US Federal Reserve, as well as the worsening recession, are forcing even the most conservative investors to rethink their current strategies and portfolio composition. Many of them are increasingly beginning to appreciate the fixed emission and non-correlation of Bitcoin — it is becoming a tool for risk diversification. Growing institutional interest is driving the acceleration of coin prices.
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Mitch McConnell's Brother-in-Law One of the Masterminds of Trump-Russia

Jim Breyer, Mitch McConnell's brother-in-law, Facilitates Russia’s Takeover of Facebook through Yuri Milner
In 2005 Jim Breyer, a partner at Accel Partners, invested $1 million of his own money into Facebook and gained a seat on the board (1).
In Feb 2009 Jim Breyer visited Russia with a number of other Silicone Valley investors. While there, Yuri Milner, a Russian tech entrepreneur who founded DST with close ties to the Kremlin, hosted a dinner to cap the entire event (2). As one Moscow source put it:
DST has the backing of the big boys at the top in the Kremlin, which is why it will go from strength to strength (5)
Milner found out Breyer liked Impressionist art and took him to Russian’s Hermitage Museum to view Matisse paintings otherwise closed off to the public. Three months later Yuri Milner’s DST invested into Facebook at a bloated value. (2)
Mr Milner dismissed suggestions that at a valuation of $10bn he overpaid for his stake in Facebook, especially given that the social networking site has yet to prove it has turned to profit. (3)
it’s seen as a desperate and rather vulgar deal on the one hand—Milner buying a small stake in Facebook, valuing the entire company at $10 billion—and, on the other, Facebook debasing itself by taking Russian money. Russian money! In fact, it seems rather like a desperate deal for both parties (in the midst of the banking crisis, Facebook has only two other bidders for this round—and none from the top VC tier) (4)
By the end of 2009, DST would own 10% of Facebook. Later revealed by the Paradise Papers, DST’s investments into Facebook were financed by the Russian government through state-owned Gazprom. That’s right, in 2009 Russia owned 10% of Facebook. (6)
Soon after, the two continued to work together on other investments. Breyer introduced Milner to Groupon, and Milner helped Breyer’s Accel invest into Spotify (7). In 2010 an Accel representative joined a gaggle of Silicon Valley investors to Russia and signed a letter promising to invest into the country (8).
  1. http://fortune.com/2011/01/11/timeline-where-facebook-got-its-funding/
  2. http://fortune.com/2010/10/04/facebooks-friend-in-russia/
  3. https://www.telegraph.co.uk/technology/facebook/7753692/Facebook-is-just-the-first-step-say-Russians.html
  4. https://www.wired.com/2011/10/mf_milne
  5. https://www.theguardian.com/technology/2011/jan/04/facebook-dst-goldman-sachs
  6. https://www.theguardian.com/news/2017/nov/05/russia-funded-facebook-twitter-investments-kushner-investor
  7. https://dealbook.nytimes.com/2011/09/28/dst-global-hoping-to-grow-across-asia-puts-down-roots/
  8. http://www.ambarclub.org/executive-education/
Jim Breyer and Rupert Murdoch
Then in Nov 2010 Jim Breyer invested into Artsy.net, run by Rupert Murdoch’s then-wife, Wendi Deng, and Russia oligarch Roman Abramovich’s then-wife, Dasha Zhukova. Jared Kushner’s brother, Josh, also invested in the fledgling company (1).
At the time Rupert Murdoch’s News Corporation had a joint venture with the Russian mob-linked oligarch Boris Berezovsky, called LogoVaz News Corporation, that invested in Russian media (4). It was Berezovsky’s protege close to Putin, Roman Abramovich, who tied Berezovsky to the mob.
According to the Mirror Online, Abramovich paid Berezovsky tens, and even hundreds, of millions every year for "krysha", or mafia protection. (5)
In June 2011, Rupert Murdoch ended his foray into social media by selling Myspace to Justin Timberlake (2) and elected Jim Breyer to the board of News Corp (3).
  1. https://www.businessinsider.com/what-is-cadre-and-how-to-invest-in-its-real-estate-deals-2016-6
  2. https://en.wikipedia.org/wiki/Myspace
  3. https://web.archive.org/web/19990428071733/http://www.newscorp.com:80/
  4. https://www.bloomberg.com/profiles/companies/156126Z:RU-logovaz-news-corp
  5. https://en.wikipedia.org/wiki/Roman_Abramovich
Jim Breyer invests in Wickr with Erik Prince
In 2012 Breyer invested in a encrypted messenger app, Wickr. Other investors include Gilman Louie and Erik Prince. To understand the connection, we need to go back to 1987. Breyer, newly hired to Accel Partners, made his first investment with Louie’s video game company that owned the rights to the Soviet Union’s first video game export, Tetris (1).
Louie went off to become the founding CEO of the CIA-backed In-Q-Tel which invested in Palantir. Palantir’s founder, Peter Thiel, sat on the board of Facebook with Breyer (2)(3). On the board of In-Q-Tel is Buzzy Krongard (7), the man who helped Erik Prince’s Blackwater receive their first CIA contract, who also joined the board of Blackwater in 2007 (6).
Around that same time, 2012-2013, Prince met Vincent Tchenguiz, founder of Cambridge Analytica's parent company, SCL (8), and was introduced to Cyrus Behbehani of Glencore, one of the purchasers of Rosneft stock detailed in the Steele Dossier (9). Cyrus Behbehani sat on the board of RusAl with Christophe Charlier, who is also Chairman of the board at Renaissance Capital (10), an early investor of DST (11).
  1. https://wickr.com/wickr-raises-30m-series-b-led-by-jim-breye
  2. https://www.sfgate.com/politics/article/CIA-Asks-Silicon-Valley-s-Help-Executive-to-2904775.php
  3. https://www.iqt.org/palantir-technologies/
  4. https://www.politico.com/story/2016/08/palantir-defense-contracts-lobbyists-226969
  5. https://feraljundi.com/tag/reflex-responses-management-consultancy-llc/
  6. https://www.nytimes.com/2007/11/17/us/17brothers.html
  7. https://www.marketscreener.com/business-leaders/A-Krongard-006WHL-E/biography/
  8. https://www.haaretz.com/israel-news/revealed-erik-prince-had-business-ties-with-netanyahus-disgraced-chief-of-staff-1.5627887
  9. https://medium.com/@wsiegelman/a-fresh-look-at-erik-princes-house-intelligence-committee-testimony-and-emails-with-christophe-6603f06c6568
  10. https://medium.com/@wsiegelman/a-fresh-look-at-erik-princes-house-intelligence-committee-testimony-and-emails-with-christophe-6603f06c6568
  11. https://www.vccircle.com/all-you-wanted-know-about-digital-sky-technologies/
Jim Breyer and Yuri Milner invest in Prismatic
That same year, 2012, Jim Breyer invested in Prismatic, a news aggregate app, with Yuri Milner.
Prismatic’s technology works by crawling Facebook, Twitter and the web (“anything with a URL”) to find news stories. It then uses machine learning to categorize them by Topic and Publication. Prismatic users follow these Topics and Publications, as well as Individuals and the algorithm then uses these preferences and user-activity signals to present a relevant Newsfeed. (1)
Sounds like the beginning of what could be a propaganda dissemination tool. That goes in-line with Yuri Milner’s vision of Social Media. Milner’s theory:
“Zuckerberg’s Law”: Every 12 to 18 months the amount of information being shared between people on the web doubles... Over time people will bypass more general websites such as Google in favor of sites built atop social networks where they can rely on friends’ opinions to figure out where to get the best fall handbag, how to change a smoke detector, or whether to vacation in Istanbul or Rome. “You will pick your network, and the network will filter everything for you,” Milner explained. (2)
So how does Milner intend to utilize the data gathered through social media? Let’s see what Milner did to Russia’s top social media site, VK:
In January 2014, Durov sold his 12 percent stake to Ivan Tavrin, the CEO of major Russian mobile operator Megafon, whose second-largest shareholder is Alisher Usmanov, one of Russia’s most powerful oligarchs, a man who has long been lobbying to take over VK.
Then, in April 2014, Durov stated he had sold his stake in the company and became a citizen of St Kitts and Nevis back in February after "coming under increasing pressure" from the Russian Federal Security Service to hand over personal details of users who were members of a VK group dedicated to the Euromaidan protest movement in Ukraine. (3)
The Euromaidan protest ousted the Russian-backed president of Ukraine, Viktor Yanukovych, whom Paul Manafort had worked to install. (4)
  1. https://techcrunch.com/2012/12/05/prismatic/
  2. http://fortune.com/2010/10/04/facebooks-friend-in-russia/
  3. https://cointelegraph.com/news/what-ban-russias-vkcom-is-mining-bitcoin
  4. https://en.wikipedia.org/wiki/Viktor_Yanukovych
Facebook talks US Elections with Russia
In Oct 2012 Zuckerberg traveled to Moscow and met Dmitry Medvedev where they had a very interesting conversation:
Mr. Zuckerberg and Mr. Medvedev talked about Facebook’s role in politics, though only jokingly in reference to its importance in the American presidential campaign, according to Mr. Medvedev’s press office. (1)
While there he also visited Victor Vekselberg's Skolkovo, who’s currently under investigation by Mueller for donations to Trump (2).
As Obama’s effort to reboot diplomatic relations [with Russia] sputtered, federal officials began raising alarms about the Skolkovo Foundation’s ties to Putin.
“The foundation may be a means for the Russian government to access our nation’s sensitive or classified research, development facilities and dual-use technologies” (3)
And took time to teach Russian's how to hack Facebook friend data, the same hack used by Cambridge Analytica, Donald Trump’s campaign data firm.
In a 2012 video, Facebook's Simon Cross shows the Moscow crowd how they can "get a ton of other information" on Facebook users and their friends. "We now have an access token, so now let's make the same request again and see what happens," Cross explains (YouTube). "We've got a little bit more data, but now we can start doing really interesting stuff. We can get my friends. We can get some more information about one of my friends. Here's Connor, who you'll meet later. Say 'hello,' Connor. He's waving. And we can also get a ton of other information as well." (4)
Facebook later hired the individual who hacked Facebook and sold the data to Cambridge Analytica (5).
A month after that visit, Putin propaganda mouth-piece Konstantin Rykov, claims he began helping with Trump’s presidential aspirations (6). Days later, Trump registered “Make America Great Again” (7). The following year, Russia's Troll Factory, the Internet Research Agency, was created as was Cambridge Analytica.
  1. https://www.nytimes.com/2012/10/02/technology/zuckerberg-meets-with-medvedev-in-key-market.html
  2. https://www.adweek.com/digital/zuckerberg-russia-skolkovo/
  3. https://apnews.com/5e533f93afae4a4fa5c2f7fe80ad72ac/Sanctioned-Russian-oligarch-linked-to-Cohen-has-vast-US-ties
  4. https://www.youtube.com/watch?v=heTPmGb6jdc&feature=youtu.be&t=11m54s
  5. https://www.theguardian.com/news/2018/ma18/facebook-cambridge-analytica-joseph-chancellor-gsr
  6. https://washingtonmonthly.com/2017/11/24/a-trumprussia-confession-in-plain-sight/
  7. https://trademarks.justia.com/857/83/make-america-great-85783371.html
Andrei Shleifer and Len Blavatnik
Len Blavatnik, a US-Russian oligarch currently under investigation by Mueller, graduated from Harvard in 1989 and quickly formed Renova-Invest with Viktor Vekselberg, another oligarch under Mueller’s investigation (7)(8). Since then Blavatnik has maintained close ties to the university.
In 1992, after the fall of the Soviet Union, Andrei Shleifer led a consortium of Harvard professors to assist Russia’s vice-president, Antaoly Chubais, with the privatization of Russia’s state-run assets. Scandal broke when it was revealed Shleifer, through Blavatnik’s company and with Blavatnik’s guidance, invested in the very companies he worked to privatize. (6)
Years later, Shleifer continued to fund loans to Blavatnik for Russian ventures through his hedge fund, managed by his wife, Nancy Zimmerman (9), and created the Russian Recovery Fund which bought $230 million of Russian debt from Julian Robertson’s Tiger Management (10), who’s seed fun, Tiger Global, later invested in Milner’s DST.
Len Blavatnik and Viktor Vekselberg are major investors in Rusal (11).
Schleifer is still a professor at Harvard.
  1. http://harry-lewis.blogspot.com/2014/01/some-russian-money-flows-back-to-harvard.html
  2. https://en.wikipedia.org/wiki/Leonard_Blavatnik#cite_note-Yenikeyeff-7
  3. https://abcnews.go.com/Politics/investigators-follow-flow-money-trump-wealthy-donors-russian/story?id=50100024
  4. https://www.newyorker.com/magazine/2014/01/20/the-billionaires-playlist
  5. https://law.justia.com/cases/federal/appellate-courts/cafc/16-1718/16-1718-2017-03-14.html
  6. https://www.bloomberg.com/news/articles/2018-04-25/tangled-rusal-ownership-thwarts-easy-end-to-sanctions-quicktake
Breyer and Harvard
On April 2013, two months after Breyer was elected to the board of Harvard (1), Len Blavatnik, donated $50 million to the school (2) and joined the Board of Dean’s Advisors (3)(4) and Harvard’s Global Advisory Council (6) alongside Breyer. The next month Breyer announced plans to step down from the board of Facebook with an intention of focusing on his latest Harvard appointment (5).
In 2016 Len Blavatnik donated over $7 million to GOP candidates, including $2.5 million to Mitch McConnell himself (7).
  1. https://news.harvard.edu/gazette/story/2013/02/breyer_elected/
  2. https://news.harvard.edu/gazette/story/2013/04/blavatnik_accelerator_donation/
  3. https://www.accessindustries.com/about/academic-boards-committees/
  4. https://www.cnbc.com/2017/07/21/delivering-alpha-2017-jim-breyer.html
  5. https://sanfrancisco.cbslocal.com/2013/04/27/facebook-board-member-jim-breyer-stepping-down/
  6. http://docplayer.net/54127503-Harvard-global-advisory-council.html
  7. https://www.dallasnews.com/opinion/commentary/2017/08/03/tangled-web-connects-russian-oligarch-money-gop-campaigns
Breyer invests in Russian Companies
In 2014 Breyer’s Accel Partners invested in Russian hotel booking site, Ostrovok, along with Yuri Milner, Esther Dyson (1), Mark Pincus, and Peter Thiel (2).
Accel Partners also invested in Avito.ru in 2012 (3) and KupiVIP.ru in 2011 (4).
  1. https://techcrunch.com/2014/06/18/ostrovok-raises-new-12m-series-c-round-to-expand-outside-russia/
  2. http://idcee.org/participants/companies/ostrovok/
  3. http://www.ewdn.com/2012/05/02/avito-ru-secures-75-million-investment-from-accel-partners-and-baring-vostok/
  4. http://www.ewdn.com/2011/04/14/leading-private-shopping-club-kupivip-ru-completes-55-m-funding/
Jim Breyer, Blackstone Group, and Saudi Arabia
In 2011 Schwarzman was named to the board of the Russian Direct Investment Fund (2), headed by Kirill Dimitriev.
In June 2016, during Trump’s presidential campaign, Jim Breyer met with Saudi Crown Prince Mohammed bin-Salman, or MBS (8). The next month Breyer joined the board of Blackstone Group (1) alongside Stephen Schwarzman and Jacob Rothschild (3). In the past Blackstone Group had loaned Kushner Companies a combined $400 million over multiple projects (7). In the 2018 election cycle, Schwzarman donated $5 million to the pro-McConnell superPAC, Senate Majority PAC (13).
Jacob’s brother, Nat, is business partners with both Oleg Deripaska (4), Rupert Murdoch, and Dick Cheney (5). Nat is also a major investor in Glencore, one of the purchasers of Rosneft stock detailed in the Steele Dossier (6), and RusAl.
In January 2017, Breyer’s business partner at Wickr, Erik Prince, was introduced to Dimitriev by MBS’s emissary, George Nader, and the Crown Prince of the UAE (10).
On October 22, 2018, three weeks after the murder of Jamal Khashoggi, when most American investors were spooked away from Saudi Arabia, Jim Breyer showed up at an MBS-hosted Saudi business summit alongside Kirill Dimitriev of the Russian Direct Investment Fund (9). That same day, MBS pledged $20 billion for Blackstone Group's new infrastructure fund (11) to fund Elaine Chao's $1.5 trillion infrastructure plan (12). Elaine Chao, Mitch McConnells wife and Jim Breyer's sister-in-law, is Trump's Secretary of Transportation.
  1. https://www.blackstone.com/media/press-releases/article/jim-breyer-to-join-blackstone-s-board-of-directors
  2. https://rdif.ru/Eng_fullNews/53/
  3. https://en.wikipedia.org/wiki/Jacob_Rothschild,_4th_Baron_Rothschild
  4. https://www.telegraph.co.uk/news/politics/conservative/3236166/Muddy-waters-over-Oleg-Deripaska-Nat-Rothschild-and-George-Osborne.html
  5. https://www.nationofchange.org/2017/01/15/cheney-rothschild-fox-news-murdoch-drill-oil-syria-violating-international-law/
  6. https://en.wikipedia.org/wiki/Nathaniel_Philip_Rothschild
  7. https://www.bloomberg.com/news/articles/2017-05-26/the-kushners-the-saudis-and-blackstone-behind-the-recent-deals
  8. https://www.thetrustedinsight.com/investment-news/saudi-prince-mohammed-met-with-20-silicon-valley-innovators-in-tech-summit-20160628142/
  9. https://www.latimes.com/business/la-fi-moelis-saudi-arabia-20181023-story.html
  10. https://www.vox.com/2018/3/7/17088908/erik-prince-trump-russia-seychelles-mueller
  11. https://www.bloomberg.com/news/articles/2018-10-22/how-blackstone-landed-20-billion-from-saudis-for-infrastructure
  12. https://www.bloomberg.com/news/articles/2018-10-22/how-blackstone-landed-20-billion-from-saudis-for-infrastructure
  13. https://www.washingtonpost.com/news/post-politics/wp/2018/07/20/big-money-is-flowing-into-the-2018-fight-for-the-senate/?noredirect=on&utm_term=.f59ac6f2ebe5
submitted by Puffin_Fitness to RussiaLago [link] [comments]

The Saturn Time Cube (MEGATHREAD) Part 2

So we left off asking ourselves the question: what will happen when literally everything is linked up to the cube? In order to answer that question I think we should first take a step back and ask how it will happen.
If you’re familiar with the Bible you know that before the apocalypse begins there will be a world leader known as the antichrist. The antichrist will supposedly implement a new monetary system, one enforced by a certain ‘mark’.
“He causes all, both great and small, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark.” — Revelation 13
Some conspiracy theorists think this mark will be a computer chip implanted in your hand. This technology already exists, and some people are actually already utilizing it.
https://www.scmp.com/news/world/europe/article/2145896/thousands-people-sweden-get-microchip-implants-new-way-life
People get this chip because it’s convenient. You no longer have to carry around your ID or your credit cards. You’ll never lose them either, because they’re... attached to your body.
However, in order to make the chip mandatory, the first thing that has to happen is the eradication of all paper money. This is already happening. Most currency existing today is digital. In fact, it’s around 90%.
https://m.timesofindia.com/12-weird-but-true-facts-about-technology/92-of-The-worlds-currency-is-digital/photostory/51422304.cms
I believe cryptocurrency, you know shit like bitcoin, is major step in the direction of a cashless society. Will bitcoin be the new dollar? I don’t think so. But I do think there is a company out there paving the way for whatever it might be. That company is Chainlink.
Now that you know a bit about Saturn’s symbols, you can see why I find this company a bit creepy. But the weirdness doesn’t stop with their logos, it goes much deeper.
https://static.turbosquid.com/Preview/2018/02/07__08_55_26/chainlink02.jpeg6637B8AF-4C37-4977-8BE6-B3431444A3F3Default.jpg
First of all, the origins of Chainlink are a bit sketchy. What was supposed be a small startup, was given accolades by the big boys at the World Economic Forum.
https://m.imgur.com/LINKTrade3m9uC
Not only that but they are already working with the infamous SWIFT system. SWIFT, or the Society for Worldwide Interbank Financial Telecommunication, is a vast messaging network used by banks all over the world. To me this sounds like the infrastructure of a one world economic system.
They also recently aquired the Town Crier project. Look familiar?
https://tech.cornell.edu/wp-content/uploads/2018/12/town-crier_BAC-logo.png
https://i0.wp.com/www.whats-your-sign.com/wp-content/uploads/2018/02/SaturnSymbolMeaning.jpg?fit=1600%2C987&ssl=1
But even more strange, is the fact that one of Chainlink’s advisors, Ari Juels, seems to belong to a cult, the Cult of Demeter! He even references it on his personal webpage.
https://www.arijuels.com/whats-the-banner-about/
Demeter was the goddess of the harvest, agriculture, fertility and sacred law. Like we discussed earlier, Saturn was known for the same things. Saturn was also known as the god with a thousand names and was both male and female, so it is possible that Demeter was a personification of the ringed planet. However, this doesn’t make much of a difference. It’s still weird.
The cult of Demeter is a very old thing. It began in ancient Greece and was known for it’s yearly ceremonies where new members were initiated into the Eleusinian Mysteries. There is not much known about them, except that they stressed the importance of the cycle of descending into the underworld and returning anew. They tried their best to keep all of their rites, ceremonies, and beliefs a secret.
Ari Juels also wrote a bizarre novel called Tetrakyts. It’s about a secret cult of latter day followers of Pythagoras who are performing cyberattacks around the world. The numerology obsessed cyber terrorists believe they are oracles doing the work of God.
https://www.arijuels.com/fiction/
An oracle is a priest or priestess who acts as a medium for prophecy to be spoken through. Thousands of years ago, people would travel far and wide to ask them about the future. Chainlink literally calls itself an ‘oracle network’. Does Ari see himself as one of the cultists in his book?
The name of his book is a play on the word tetractys. The tetractys, or tetrad, is a mystical symbol and it was very important to the secret worship of Pythagoreanism. Pythagoras believed God was numbers.
Pythagoras, like those in the cult of Demeter, believed in reincarnation. He believed between each cycle of rebirth was a period of 216 years, which is the number six cubed, or 6³, which brings us back to the cube and 666.
So let’s pretend these people are paving the way to global cashless society. What else would need to happen? What about the mark on the forehead? Well, have you heard of Elon Musk’s Neuralink?
https://en.m.wikipedia.org/wiki/Neuralink
This new product is literally trying to link our brains up with our smartphones. As if we didn’t use them enough. I don’t think this is the mark of the beast, but I do think the technology is carving out the path towards it.
Any type of technology being implanted in my body is a scary thought. What if there’s a glitch or something? I think this technology will eventually be used for mind control.
Mind control technology already exists. Can you imagine how much easier it could be done if everyone had a chip in their brain? I believe those who take the mark will become a part of a hivemind, like the Borg from Star Trek, who ironically travel around in a cube!
https://patents.google.com/patent/US6506148B2/en
The hivemind is already happening. Everyone’s thoughts are constantly being shaped by the subliminal programming and propaganda the television and radio feed them. I hate to say it, schools to blame as well. Ever wonder why you wear a black cube on your head at your gradual indoctrination ceremony? Whoops, I mean graduation...
Scientists estimate by the year 2045 humans will be able to upload their consciousness into the ‘cloud’ or onto a computer or robotic body and live forever. I don’t know about you, but living forever sounds like Hell, and that might be the meaning of the mark sending people straight to the fiery furnace.
http://2045.com
https://en.m.wikipedia.org/wiki/2045_Initiative
The new virtual reality game Observation and Netflix movie 2036 Origin Unknown show us this merging of man with machine and it’s affiliation with Saturn. Spoiler alert for the next two paragraphs.
In Observation, a woman and her AI companion crash land their space ship inside Saturn’s hexagonal storm. They find themselves on an alternate Earth where all possible timelines have merged into one. It’s here that they become one entity.
In 2036 Origin Unknown a massive black cube is found on Mars. Again, a woman and her AI companion are trying to study it. After a series of events that results in the nuclear destruction of planet earth, it is revealed that the woman was inside the cube the whole time and that she was actually a copy of her real self being tested by the AI over and over again.
Is this the game we’ve been playing for all of time? Are they creating a simulation within the simulation to further trap us in a hall of mirrors? We might already have the mark. Just take a look at what our DNA is made of.
http://www.mostholyplace.com/wpimages/wp5386c9a0_01_1a.jpg
Without the mark we can not buy or sell, or rather, we can not participate in commerce. Commerce is defined as intercourse. Without your carbon based body you could not have sex and reproduce. In fact, your birth certificate is really a bank note, which means you, the citizen are what is known in the stock market as a commodity.
So how do we escape this time loop, this serpent biting its own tail? How do we hop off the wheel? I hinted at it earlier, but if this thread gets just as good as a reaction as the last one, I will continue the series. Thank you for reading.
submitted by nickhintonn333 to conspiracy [link] [comments]

What is Quant Networks Blockchain Operating System, Overledger? And why are Enterprises adopting it at mass scale?

What is Quant Networks Blockchain Operating System, Overledger? And why are Enterprises adopting it at mass scale?
Overledger is the world’s first blockchain operating system (OS) that not only inter-connects blockchains but also existing enterprise platforms, applications and networks to blockchain and facilitates the creation of internet scale multi-chain applications otherwise known as mApps.
In less than 10 months since launching Overledger they have provided interoperability with the full range of DLT technologies from all the leading Enterprise Permissioned blockchains such as Hyperledger, R3’s Corda, JP Morgan’s Quorum, permissioned variants of Ethereum and Ripple (XRPL) as well as the leading Public Permissionless blockchains / DAGs such as Bitcoin, Stellar, Ethereum, IOTA and EOS as well as the most recent blockchain to get added Binance Chain. In addition, Overledger also connects to Existing Networks / Off Chain / Oracle functionality and it does all of this in a way that is hugely scalable, without imposing restrictions / requiring blockchains to fork their code and can easily integrate into existing applications / networks by just adding 3 lines of code.

https://preview.redd.it/3t3z6hkbxel31.png?width=1920&format=png&auto=webp&s=ac989c2752c726e10d2291eb271721ceaa332a30

What is a blockchain Operating system?

You will be familiar with Operating systems such as Microsoft Windows, Apple Mac OS, Google’s Android etc but these are all Hardware based Operating Systems. Hardware based Operating Systems provide a platform to build and use applications that abstracts all of the complexities involved with integrating with all the hardware resources such as CPU, Memory, Storage, Mouse, Keyboard, Video etc so software can easily integrate with it. It provides interoperability between the Hardware devices and Software.
Overledger is a Blockchain Operating System, it provides a platform to build and use applications that abstracts all of the complexities involved with integrating with all the different blockchains, different OP_Codes being used, messaging formats etc as well as connecting to existing non-blockchain networks. It provides interoperability between Blockchains, Existing Networks and Software / MAPPs

How is Overledger different to other interoperability projects?

Other projects are trying to achieve interoperability by adding another blockchain on top of existing blockchains. This adds a lot of overhead, complexity, and technical risk. There are a few variants but essentially they either need to create custom connectors for each connected blockchain and / or require connected chains to fork their code to enable interoperability. An example of the process can be seen below:
User sends transaction to a multi sig contract on Blockchain A, wait for consensus to be reached on Blockchain A
A custom connector consisting of Off Chain Relay Nodes are monitoring transactions sent to the smart contract on Blockchain A. Once they see the transaction, they then sign a transaction on the Interoperability blockchain as proof the event has happened on Blockchain A.
Wait for consensus to be reached on the Interoperability Blockchain.
The DAPP running on the Interoperability Blockchain is then updated with the info about the transaction occurring on Blockchain A and then signs a transaction on the Interoperability blockchain to a multi sig contract on the Interoperability Blockchain.
Wait for consensus to be reached on the interoperability Blockchain.
A different custom connector consisting of Off Chain Relay Nodes are monitoring transactions sent to the Smart Contract on the Interoperability Blockchain which are destined for Blockchain B. Once they see the transaction, they sign a transaction on Blockchain B. Wait for consensus to be reached on Blockchain B.

https://preview.redd.it/xew1eu1exel31.png?width=1558&format=png&auto=webp&s=df960ded46d40fc9bf0ae8b54ff3b3b86276708a
Other solutions require every connecting blockchain to fork their code and implement their Interoperability protocol. This means the same type of connector can be used instead of a custom one for every blockchain however every connected blockchain has to fork their code to implement the protocol. This enforces a lot of restrictions on what the connected blockchains can implement going forward.

https://preview.redd.it/pe166qyexel31.png?width=1561&format=png&auto=webp&s=d4c982089276e64cd909537c9ce744b59e168b6d
Some problems with these methods:
  • They add a lot of Overhead / Latency. Rather than just having the consensus of Blockchain A and B, you add the consensus mechanism of the Interoperability Blockchain as well.
  • Decentralisation / transaction security is reduced. If Blockchain A and Blockchain B each have 1,000 nodes validating transactions, yet the Interoperability Blockchain only has 100 nodes then you have reduced the security of the transaction from being validated by 1000 to validated by 100.
  • Security of the Interoperability Blockchain must be greater than the sum of all transactions going through it. JP Morgan transfer $6 Trillion every day, if they move that onto blockchain and need interoperability between two Permissioned blockchains that have to connect via a public Interoperability blockchain, then it would always have to be more costly to attack the blockchain than the value from stealing the funds transacted through the blockchain.
  • Imposes a lot of limitations on connected blockchains to fork their code which may mean they have to drop some existing functionality as well as prevent them from adding certain features in the future.
  • Creates a single point of failure — If the Interoperability blockchain or connector has an issue then this affects each connected blockchain.
  • It doesn’t scale and acts as a bottleneck. Not only does building complex custom connectors not scale but the Interoperability blockchain that they are forcing all transactions to go through has to be faster than the combined throughput of connected blockchains. These Interoperability blockchains have limited tps, with the most being around 200 and is a trade off between performance and decentralisation.

But some Interoperability blockchains say they are infinitely scalable?

If the interoperability blockchain is limited to say 200 tps then the idea is to just have multiple instances of the blockchain and run them in parallel, so you benefit from the aggregated tps, but just how feasible is that? Lets say you want to connect Corda (capable of 2000+ tps) to Hyperledger (capable of up to 20,000 tps with recent upgrade). (Permissioned blockchains such as Hyperledger and Corda aren’t one big blockchain like say Bitcoin or Ethereum, they have separate instances for each consortium and each is capable of those speeds). So even when you have just 1 DAPP from one consortium that wants to connect Corda to Hyperledger and use 2000 tps for their DAPP, you would need 100 instances of the Interoperability blockchain, each with their own validators (which maybe 100–200 nodes each). So, 1 DAPP would need to cover the costs for 100 instances of the blockchain and running costs for 10,000 nodes…This is just one DAPP connected to one instance of a two permissioned blockchains, which are still in the early stages. Other blockchains such as Red Belly Blockchain can achieve 440,000 tps, and this will surely increase as the technology matures. There is also the added complexity of then aggregating the results / co-coordinating between the different instances of the blockchain. Then there are the environmental concerns, the power required for all of these instances / nodes is not sustainable.

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It’s not just transactions per second of the blockchain as well, its the latency of all these added consensuses along the path to reach to the destination and not knowing whether the security of each of the hops is sufficient and can be trusted. To see examples of how this potential issue as well as others effect Cosmos you can see my article here. I recommend also reading a blog done by the CEO of Quant, Gilbert Verdian, which explains how Overledger differs here as well as detailed in the whitepaper here.

https://preview.redd.it/2cwj4k7hxel31.png?width=1169&format=png&auto=webp&s=d6fc49086f944089cef7ffa1dfc9d284107ad2e3

Overledger’s approach

In 1973 Vint Cerf invented the protocol that rules them all: TCP/IP. Most people have never heard of it. But it describes the fundamental architecture of the internet, and it made possible Wi-Fi, Ethernet, LANs, the World Wide Web, e-mail, FTP, 3G/4G — as well as all of the inventions built upon those inventions.
Wired: So from the beginning, people, including yourself, had a vision of where the internet was going to go. Are you surprised, though, that at this point the IP protocol seems to beat almost anything it comes up against?Cerf: I’m not surprised at all because we designed it to do that.This was very conscious. Something we did right at the very beginning, when we were writing the specifications, we wanted to make this a future-proof protocol. And so the tactic that we used to achieve that was to say that the protocol did not know how — the packets of the internet protocol layer didn’t know how they were being carried. And they didn’t care whether it was a satellite link or mobile radio link or an optical fiber or something else.We were very, very careful to isolate that protocol layer from any detailed knowledge of how it was being carried. Plainly, the software had to know how to inject it into a radio link, or inject it into an optical fiber, or inject it into a satellite connection. But the basic protocol didn’t know how that worked.And the other thing that we did was to make sure that the network didn’t know what the packets had in them. We didn’t encrypt them to prevent it from knowing — we just didn’t make it have to know anything. It’s just a bag of bits as far as the net was concerned.We were very successful in these two design features, because every time a new kind of communications technology came along, like frame relay or asynchronous transfer mode or passive optical networking or mobile radio‚ all of these different ways of communicating could carry internet packets.We would hear people saying, ‘The internet will be replaced by X25,’ or ‘The internet will be replaced by frame relay,’ or ‘The internet will be replaced by APM,’ or ‘The internet will be replaced by add-and-drop multiplexers.’Of course, the answer is, ‘No, it won’t.’ It just runs on top of everything. And that was by design. I’m actually very proud of the fact that we thought of that and carefully designed that capability into the system.
This is the approach Quant have taken with their Blockchain OS, Overledger to solve Blockchain interoperability. Compared to other Interoperability platforms that are trying to achieve interoperability at the transaction layer by connecting two blockchains via another blockchain, these will be ultimately be made redundant once faster methods are released. Overledger is designed to be future proof by isolating the layers so it doesn’t matter whether it’s a permissioned blockchain, permissionless, DAG, Legacy network, POW, POS etc because it abstracts the transaction layer from the messaging layer and runs on top of blockchains. Just as the Internet wasn’t replaced by X25, frame relay, APM etc, Overledger is designed to be future proof as it just runs on top of the Blockchains rather than being a blockchain itself. So, if a new blockchain technology comes out that is capable of 100,000 TPS then it can easily be integrated as Overledger just runs on top of it.
Likewise, with protocols such as HTTPS, SSH etc these will also emerge for blockchains such as ZK-Snarks and other privacy implementations as well as other features made available, all will be compatible with Overledger as its just sitting on top rather than forcing their own implementation for all.
It doesn’t require blockchains to fork their code to make it compatible, it doesn’t add the overhead of adding another blockchain with another consensus mechanism (most likely multiple as it has to go through many hops). All of this adds a lot of latency and restrictions which isn’t needed. The developer can just choose which blockchains they want to connect and use the consensus mechanisms of those blockchains rather than forced to use one.
Overledger can provide truly internet scale to meet whatever the demands may be, whether that be connecting multiple red belly blockchains together with 440,000 tps it doesn’t matter as it doesn’t add its consensus mechanism and uses proven internet scale technology such as that based on Kubernetes, which is where each task is split up into a self-contained container and each task is scaled out by deploying more to meet demand. Kubernetes is what runs Google Search engine where they scale up and down billions of containers every week.
Due to this being more of a summary, I strongly recommend you read this article which goes into detail about the different layers in Overledger.

https://preview.redd.it/1lpt98cixel31.png?width=1126&format=png&auto=webp&s=3928cf66cfe25bfce7dc84be7b6db670ac952ccf

But how does it provide the security of a blockchain if it doesn’t add its own blockchain?

This is often misunderstood by people. Overledger is not a blockchain however it still uses a blockchain for security, immutability, traceability etc, just rather than force people to use their own blockchain, it utilises the source and destination blockchains instead. The key thing to understand is the use of its patented technology TrustTag, which was made freely available to anyone with the Overledger SDK.
Please see this article which explains TrustTag in detail with examples showing how hashing / digital signatures work etc
A quick overview is if i want to send data from one blockchain to another the Overledger SDK using Trusttag will put the data through a hashing algorithm. The Hash is then included in digital signature as part of the transaction which is signed by the user’s private key and then validated through normal consensus and stored as metadata on the source blockchain. The message is then sent to the MAPP off chain. The MAPP periodically scans the blockchains and puts the received message through a hashing algorithm and compares the Hash to the one stored as metadata on the blockchain. This ensures that the message hasn’t been modified in transit, the message is encrypted and only the Hash is stored on chain so completely private, provides immutability as it was signed by the user’s private key which only they have and is stored on the blockchain for high availability and secure so that it can’t be modified, with the ability to refer back to it at any point in time.
Despite Overledger being a very secure platform, with the team having a very strong security background such as Gilbert who was chief security information officer for Vocalink (Bank of England) managing £6 trillion of payments every year and classified as national critical security (highest level you can get), ultimately you don’t need to trust Overledger. Transactions are signed and encrypted at client side, so Overledger has no way of being able to see the contents. It can’t modify any transaction as the digital signature which includes a hash of the transaction would be different so would get rejected. Transaction security isn’t reduced as it is signed at source using however many nodes the source blockchain has rather than a smaller amount of nodes with an interoperability blockchain in the middle.

Patents

The core code of Overledger is closed source and patented, one of the recent patents can be seen here, along with TrustTag and further ones are being filed. The Overledger SDK is open source and is available in Java and Javascript currently, with plans to support Pyhton and Ruby in the near future. Java and Javascript are the most popular programming languages used today.
The Blockchain connectors are also open source and this allows the community to create connectors to connect their favourite blockchain so that it can benefit from blockchain interoperability and making it available to all enterprises / developers currently utilising Overledger. Creating is currently taking around a week to implement and so far, have been added based upon client demand.

Multi Chain Applications (MAPPs)

Multi Chain Applications (MAPPs) enable an application to use multiple blockchains and interoperate between them. Treaty Contracts enable a developer to build a MAPP and then change the underlying blockchain it uses with just a quick change of couple of lines of code. This is vital for enterprises as it’s still early days in Blockchian and we don’t know which are going to be the best blockchain in the future. Overledger easily integrates into existing applications using the Overledger SDK by just adding 3 lines of code. They don’t need to completely rewrite the application like you do with the majority of other projects and all existing java / javascript apps on Windows / Mobile app stores / business applications etc can easily integrate with overledger with minimal changes in just 8 minutes.

Treaty Contracts

What Overledger will allow with Treaty contracts is to use popular programming languages such as Java and create a smart contract in Overledger that interacts with all of the connected blockchains. Even providing Smart contract functionality to blockchains that don’t support them such as Bitcoin. This means that developers don’t have to create all the smart contracts on each blockchain in all the different programming languages but instead just create them in Overledger using languages such as Java that are widely used today. If they need to use a different blockchain then it can be as easy as changing a line of code rather than having to completely rewrite the smart contracts.
Overledger isn’t a blockchain though, so how can it trusted with the smart contract? A Hash of the smart contract is published on any blockchain the MAPP developer requires and when called the smart contract is run its run through a hashing function to check that it matches the Hash value stored on the blockchain, ensuring that it has not been modified.
By running the Smart contract off chain this also increases Scalability enormously. With a blockchain all nodes have to run the smart contract one after another rather than in parallel. Not only do you get the performance benefit of not having to run the code against every single node but you can also run them in parallel to others executing smart contracts.
You can read more about Treaty Contracts here

The different versions of Overledger

Enterprise version

The current live version is the Enterprise version as that is where most of the adoption is taking place in blockchain due to permissioned blockchains being preferred until permissionless blockchains resolve the scalability, privacy and regulatory issues. Please see this article which goes into more details about Entereprise blockchain / adoption. The Enterprise version connects to permissioned blockchains as well as additional features / support suited for Enterprises.

Community version

The community version is due to be released later this year which will allow developers to benefit from creating MAPPs across permissionless blockchains. Developers can publish their MAPPs on the MAPP Store to create additional revenue streams for developers.

Where does Overledger run from? Is it Centralised?

Overledger can run from anywhere. The community version will have instances across multiple public clouds, Enterprises / developers may prefer to host the infrastructure themselves within a consortium which they can and are doing. For example SIA is the leading private Financial Network provider in Europe, it provides a dedicated high speed network which connects all the major banks, central banks, trading venues etc. SIA host Overledger within their private network so that all of those clients can access it in the confinement of their heavily regulated, secure, fast network. AUCloud / UKCLoud host Overledger in their environment to offer as a service to their clients which consist of Governments and critical national infrastructure.
For Blockchain nodes that interact with Overledger the choice is entirely up to the developer. Each member within a consortium may choose to host a node, some developers may prefer to use 3rd party hosting providers such as Infura, or Quant can also host them if they prefer, its entirely their choice.
Overledger allows for higher levels of decentralisation by storing the output across multiple blockchains so you not only benefit from the decentralisation of one blockchain but the combination of all of them. Ultimately though decentralisation is thrown around too much without many actually understanding what it means. It’s impossible to have complete decentralisation, when you sign a transaction to be added to a blockchain ultimately you still connect through a single ISP, connect through a single router, or the input into a transaction is done through a piece of software etc. What matters to be decentralised is where trust is involved. As i have mentioned before you don’t need to trust the OS, it’s just providing instructions on how to interact with the blockchains, the end user is signing the transactions / encrypting at client side. Nothing can be seen or modified with the OS. Even if somehow the transaction did get modified then it would get rejected when consensus is done as the hash / digital signature won’t match at the destination blockchain. Where the transaction actually gets put onto the blockchain is where decentralisation matters, because thats what needs to be trusted and conensus is reached and Overledger enables this to be written across multiple blockchains at the same time.

The Team

The team are very well connected with a wealth of experience at very senior roles at Global enterprises which I will include a few examples below. Gilbert Verdian the CEO was the Head of security for the payment infrastructure for the Bank of England through his CISO role with Vocalink (Mastercard)managing £6 trillion every year. This is treated by the government as critical national infrastructure which is the highest level of criticallity because its so fundamental to the security of the country. They have experience and know what it takes to run a secure financial infrastructure and meeting requirements of regulators. Gilbert was director for Cybersecurity at PWC, Security for HSBC and Ernst & Young as well as various government roles such as the CISO for the Australian NSW Health, Head of Security at the UK government for Ministry of Justice and HM Treasury in addition to being part of the committee for the European Commission, US Federal Reserve and the Bank of England.
Cecilia Harvey is the Chief Operating Officer, where she was previously a Director at HSBC in Global Banking and Markets and before that Director at Vocalink. Cecilia was also Chief Operating Officer at Citi for Markets and Securities Services Technology as well as working for Barclays, Accenture, IBM and Morgan Stanley.
Vijay Verma is the Overledger platform lead with over 15 years of developer experience in latest technologies like Java, Scala, Blockchain & enterprise technology solutions. Over the course of his career, he has worked for a number of prestigious organisations including J&J, Deutsche, HSBC, BNP Paribas, UBS Banks, HMRC and Network Rail.
Guy Dietrich, the managing director of Rockefeller Capital (manages $19 Billion in assets) has joined the board of Quant Network, and has recently personally attended meetings with the Financial Conduct Authority (FCA) with Gilbert

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As well as advisors such as Paolo Tasca, the founder and Executive Director of the Centre for Blockchain Technologies (UCL CBT) at University College Londonfounder and executive director as well as Chris Adelsbach, Managing Director at Techstars, the worldwide network that helps entrepreneurs succeed. Techstars has partners such as Amazon, Barclays, Boeing, Ford, Google, Honda, IBM, Microsoft, PWC, Sony, Target, Total, Verizon, Western Union etc.
Due to client demand they are expanding to the US to setup a similar size office where board members such as Guy Dietrich will be extremely valuable in assisting with the expansion.
https://twitter.com/gverdian/status/1151549142235340800
The most exciting part about the project though is just how much adoption there has been of the platform, from huge global enterprises, governments and cloud providers they are on track for a revenue of $10 million in their first year. I will go through these in the next article, followed by further article explaining how the Token and Treasury works.
You can also find out more info about Quant at the following:
Part One — Blockchain Fundamentals
Part Two — The Layers Of Overledger
Part Three — TrustTag and the Tokenisation of data
Part Four — Features Overledger provides to MAPPs
Part Five — Creating the Standards for Interoperability
Part Six — The Team behind Overledger and Partners
Part Seven — The QNT Token
Part Eight — Enabling Enterprise Mass Adoption
Quant Network Enabling Mass Adoption of Blockchain at a Rapid Pace
Quant Network Partner with SIA, A Game Changer for Mass Blockchain Adoption by Financial Institutions
submitted by xSeq22x to QuantNetwork [link] [comments]

What is Quant Networks Blockchain Operating System, Overledger? And why are Enterprises adopting it at mass scale?

What is Quant Networks Blockchain Operating System, Overledger? And why are Enterprises adopting it at mass scale?
Overledger is the world’s first blockchain operating system (OS) that not only inter-connects blockchains but also existing enterprise platforms, applications and networks to blockchain and facilitates the creation of internet scale multi-chain applications otherwise known as mApps.
In less than 10 months since launching Overledger they have provided interoperability with the full range of DLT technologies from all the leading Enterprise Permissioned blockchains such as Hyperledger, R3’s Corda, JP Morgan’s Quorum, permissioned variants of Ethereum and Ripple (XRPL) as well as the leading Public Permissionless blockchains / DAGs such as Bitcoin, Stellar, Ethereum, IOTA and EOS as well as the most recent blockchain to get added Binance Chain. In addition, Overledger also connects to Existing Networks / Off Chain / Oracle functionality and it does all of this in a way that is hugely scalable, without imposing restrictions / requiring blockchains to fork their code and can easily integrate into existing applications / networks by just adding 3 lines of code.

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What is a blockchain Operating system?

You will be familiar with Operating systems such as Microsoft Windows, Apple Mac OS, Google’s Android etc but these are all Hardware based Operating Systems. Hardware based Operating Systems provide a platform to build and use applications that abstracts all of the complexities involved with integrating with all the hardware resources such as CPU, Memory, Storage, Mouse, Keyboard, Video etc so software can easily integrate with it. It provides interoperability between the Hardware devices and Software.
Overledger is a Blockchain Operating System, it provides a platform to build and use applications that abstracts all of the complexities involved with integrating with all the different blockchains, different OP_Codes being used, messaging formats etc as well as connecting to existing non-blockchain networks. It provides interoperability between Blockchains, Existing Networks and Software / MAPPs

How is Overledger different to other interoperability projects?

Other projects are trying to achieve interoperability by adding another blockchain on top of existing blockchains. This adds a lot of overhead, complexity, and technical risk. There are a few variants but essentially they either need to create custom connectors for each connected blockchain and / or require connected chains to fork their code to enable interoperability. An example of the process can be seen below:
User sends transaction to a multi sig contract on Blockchain A, wait for consensus to be reached on Blockchain A
A custom connector consisting of Off Chain Relay Nodes are monitoring transactions sent to the smart contract on Blockchain A. Once they see the transaction, they then sign a transaction on the Interoperability blockchain as proof the event has happened on Blockchain A.
Wait for consensus to be reached on the Interoperability Blockchain.
The DAPP running on the Interoperability Blockchain is then updated with the info about the transaction occurring on Blockchain A and then signs a transaction on the Interoperability blockchain to a multi sig contract on the Interoperability Blockchain.
Wait for consensus to be reached on the interoperability Blockchain.
A different custom connector consisting of Off Chain Relay Nodes are monitoring transactions sent to the Smart Contract on the Interoperability Blockchain which are destined for Blockchain B. Once they see the transaction, they sign a transaction on Blockchain B. Wait for consensus to be reached on Blockchain B.
https://preview.redd.it/2apm3pb5wel31.png?width=1558&format=png&auto=webp&s=7027514706d7b12690b1be8f4f4af7cfc9c43354
Other solutions require every connecting blockchain to fork their code and implement their Interoperability protocol. This means the same type of connector can be used instead of a custom one for every blockchain however every connected blockchain has to fork their code to implement the protocol. This enforces a lot of restrictions on what the connected blockchains can implement going forward.

https://preview.redd.it/4axzxx57wel31.png?width=1561&format=png&auto=webp&s=a8c3de8468ef9b67bc1db75cffbef81ef8c0aa70
Some problems with these methods:
  • They add a lot of Overhead / Latency. Rather than just having the consensus of Blockchain A and B, you add the consensus mechanism of the Interoperability Blockchain as well.
  • Decentralisation / transaction security is reduced. If Blockchain A and Blockchain B each have 1,000 nodes validating transactions, yet the Interoperability Blockchain only has 100 nodes then you have reduced the security of the transaction from being validated by 1000 to validated by 100.
  • Security of the Interoperability Blockchain must be greater than the sum of all transactions going through it. JP Morgan transfer $6 Trillion every day, if they move that onto blockchain and need interoperability between two Permissioned blockchains that have to connect via a public Interoperability blockchain, then it would always have to be more costly to attack the blockchain than the value from stealing the funds transacted through the blockchain.
  • Imposes a lot of limitations on connected blockchains to fork their code which may mean they have to drop some existing functionality as well as prevent them from adding certain features in the future.
  • Creates a single point of failure — If the Interoperability blockchain or connector has an issue then this affects each connected blockchain.
  • It doesn’t scale and acts as a bottleneck. Not only does building complex custom connectors not scale but the Interoperability blockchain that they are forcing all transactions to go through has to be faster than the combined throughput of connected blockchains. These Interoperability blockchains have limited tps, with the most being around 200 and is a trade off between performance and decentralisation.

But some Interoperability blockchains say they are infinitely scalable?

If the interoperability blockchain is limited to say 200 tps then the idea is to just have multiple instances of the blockchain and run them in parallel, so you benefit from the aggregated tps, but just how feasible is that? Lets say you want to connect Corda (capable of 2000+ tps) to Hyperledger (capable of up to 20,000 tps with recent upgrade). (Permissioned blockchains such as Hyperledger and Corda aren’t one big blockchain like say Bitcoin or Ethereum, they have separate instances for each consortium and each is capable of those speeds). So even when you have just 1 DAPP from one consortium that wants to connect Corda to Hyperledger and use 2000 tps for their DAPP, you would need 100 instances of the Interoperability blockchain, each with their own validators (which maybe 100–200 nodes each). So, 1 DAPP would need to cover the costs for 100 instances of the blockchain and running costs for 10,000 nodes…This is just one DAPP connected to one instance of a two permissioned blockchains, which are still in the early stages. Other blockchains such as Red Belly Blockchain can achieve 440,000 tps, and this will surely increase as the technology matures. There is also the added complexity of then aggregating the results / co-coordinating between the different instances of the blockchain. Then there are the environmental concerns, the power required for all of these instances / nodes is not sustainable.

https://preview.redd.it/myjx8t29wel31.png?width=1070&format=png&auto=webp&s=550ac862c3c5b46df8ed42cf37282cad0a960819
It’s not just transactions per second of the blockchain as well, its the latency of all these added consensuses along the path to reach to the destination and not knowing whether the security of each of the hops is sufficient and can be trusted. To see examples of how this potential issue as well as others effect Cosmos you can see my article here. I recommend also reading a blog done by the CEO of Quant, Gilbert Verdian, which explains how Overledger differs here as well as detailed in the whitepaper here.

https://preview.redd.it/m9036lzfwel31.png?width=1169&format=png&auto=webp&s=50e54198a97106b3921f79ca928f7e808a5529d7

Overledger’s approach

In 1973 Vint Cerf invented the protocol that rules them all: TCP/IP. Most people have never heard of it. But it describes the fundamental architecture of the internet, and it made possible Wi-Fi, Ethernet, LANs, the World Wide Web, e-mail, FTP, 3G/4G — as well as all of the inventions built upon those inventions.
***Wired: So from the beginning, people, including yourself, had a vision of where the internet was going to go. Are you surprised, though, that at this point the IP protocol seems to beat almost anything it comes up against?***Cerf: I’m not surprised at all because we designed it to do that.This was very conscious. Something we did right at the very beginning, when we were writing the specifications, we wanted to make this a future-proof protocol. And so the tactic that we used to achieve that was to say that the protocol did not know how — the packets of the internet protocol layer didn’t know how they were being carried. And they didn’t care whether it was a satellite link or mobile radio link or an optical fiber or something else.We were very, very careful to isolate that protocol layer from any detailed knowledge of how it was being carried. Plainly, the software had to know how to inject it into a radio link, or inject it into an optical fiber, or inject it into a satellite connection. But the basic protocol didn’t know how that worked.And the other thing that we did was to make sure that the network didn’t know what the packets had in them. We didn’t encrypt them to prevent it from knowing — we just didn’t make it have to know anything. It’s just a bag of bits as far as the net was concerned.We were very successful in these two design features, because every time a new kind of communications technology came along, like frame relay or asynchronous transfer mode or passive optical networking or mobile radio‚ all of these different ways of communicating could carry internet packets.We would hear people saying, ‘The internet will be replaced by X25,’ or ‘The internet will be replaced by frame relay,’ or ‘The internet will be replaced by APM,’ or ‘The internet will be replaced by add-and-drop multiplexers.’Of course, the answer is, ‘No, it won’t.’ It just runs on top of everything. And that was by design. I’m actually very proud of the fact that we thought of that and carefully designed that capability into the system.
This is the approach Quant have taken with their Blockchain OS, Overledger to solve Blockchain interoperability. Compared to other Interoperability platforms that are trying to achieve interoperability at the transaction layer by connecting two blockchains via another blockchain, these will be ultimately be made redundant once faster methods are released. Overledger is designed to be future proof by isolating the layers so it doesn’t matter whether it’s a permissioned blockchain, permissionless, DAG, Legacy network, POW, POS etc because it abstracts the transaction layer from the messaging layer and runs on top of blockchains. Just as the Internet wasn’t replaced by X25, frame relay, APM etc, Overledger is designed to be future proof as it just runs on top of the Blockchains rather than being a blockchain itself. So, if a new blockchain technology comes out that is capable of 100,000 TPS then it can easily be integrated as Overledger just runs on top of it.
Likewise, with protocols such as HTTPS, SSH etc these will also emerge for blockchains such as ZK-Snarks and other privacy implementations as well as other features made available, all will be compatible with Overledger as its just sitting on top rather than forcing their own implementation for all.
It doesn’t require blockchains to fork their code to make it compatible, it doesn’t add the overhead of adding another blockchain with another consensus mechanism (most likely multiple as it has to go through many hops). All of this adds a lot of latency and restrictions which isn’t needed. The developer can just choose which blockchains they want to connect and use the consensus mechanisms of those blockchains rather than forced to use one.
Overledger can provide truly internet scale to meet whatever the demands may be, whether that be connecting multiple red belly blockchains together with 440,000 tps it doesn’t matter as it doesn’t add its consensus mechanism and uses proven internet scale technology such as that based on Kubernetes, which is where each task is split up into a self-contained container and each task is scaled out by deploying more to meet demand. Kubernetes is what runs Google Search engine where they scale up and down billions of containers every week.
Due to this being more of a summary, I strongly recommend you read this article which goes into detail about the different layers in Overledger.

https://preview.redd.it/6x7tjq9jwel31.png?width=1126&format=png&auto=webp&s=52ac5b9ebb45908ef6070d2eed6d107d380da1df

But how does it provide the security of a blockchain if it doesn’t add its own blockchain?

This is often misunderstood by people. Overledger is not a blockchain however it still uses a blockchain for security, immutability, traceability etc, just rather than force people to use their own blockchain, it utilises the source and destination blockchains instead. The key thing to understand is the use of its patented technology TrustTag, which was made freely available to anyone with the Overledger SDK.
Please see this article which explains TrustTag in detail with examples showing how hashing / digital signatures work etc
A quick overview is if i want to send data from one blockchain to another the Overledger SDK using Trusttag will put the data through a hashing algorithm. The Hash is then included in digital signature as part of the transaction which is signed by the user’s private key and then validated through normal consensus and stored as metadata on the source blockchain. The message is then sent to the MAPP off chain. The MAPP periodically scans the blockchains and puts the received message through a hashing algorithm and compares the Hash to the one stored as metadata on the blockchain. This ensures that the message hasn’t been modified in transit, the message is encrypted and only the Hash is stored on chain so completely private, provides immutability as it was signed by the user’s private key which only they have and is stored on the blockchain for high availability and secure so that it can’t be modified, with the ability to refer back to it at any point in time.
Despite Overledger being a very secure platform, with the team having a very strong security background such as Gilbert who was chief security information officer for Vocalink (Bank of England) managing £6 trillion of payments every year and classified as national critical security (highest level you can get), ultimately you don’t need to trust Overledger. Transactions are signed and encrypted at client side, so Overledger has no way of being able to see the contents. It can’t modify any transaction as the digital signature which includes a hash of the transaction would be different so would get rejected. Transaction security isn’t reduced as it is signed at source using however many nodes the source blockchain has rather than a smaller amount of nodes with an interoperability blockchain in the middle.

Patents

The core code of Overledger is closed source and patented, one of the recent patents can be seen here, along with TrustTag and further ones are being filed. The Overledger SDK is open source and is available in Java and Javascript currently, with plans to support Pyhton and Ruby in the near future. Java and Javascript are the most popular programming languages used today.
The Blockchain connectors are also open source and this allows the community to create connectors to connect their favourite blockchain so that it can benefit from blockchain interoperability and making it available to all enterprises / developers currently utilising Overledger. Creating is currently taking around a week to implement and so far, have been added based upon client demand.

Multi Chain Applications (MAPPs)

Multi Chain Applications (MAPPs) enable an application to use multiple blockchains and interoperate between them. Treaty Contracts enable a developer to build a MAPP and then change the underlying blockchain it uses with just a quick change of couple of lines of code. This is vital for enterprises as it’s still early days in Blockchian and we don’t know which are going to be the best blockchain in the future. Overledger easily integrates into existing applications using the Overledger SDK by just adding 3 lines of code. They don’t need to completely rewrite the application like you do with the majority of other projects and all existing java / javascript apps on Windows / Mobile app stores / business applications etc can easily integrate with overledger with minimal changes in just 8 minutes.

Treaty Contracts

What Overledger will allow with Treaty contracts is to use popular programming languages such as Java and create a smart contract in Overledger that interacts with all of the connected blockchains. Even providing Smart contract functionality to blockchains that don’t support them such as Bitcoin. This means that developers don’t have to create all the smart contracts on each blockchain in all the different programming languages but instead just create them in Overledger using languages such as Java that are widely used today. If they need to use a different blockchain then it can be as easy as changing a line of code rather than having to completely rewrite the smart contracts.
Overledger isn’t a blockchain though, so how can it trusted with the smart contract? A Hash of the smart contract is published on any blockchain the MAPP developer requires and when called the smart contract is run its run through a hashing function to check that it matches the Hash value stored on the blockchain, ensuring that it has not been modified.
By running the Smart contract off chain this also increases Scalability enormously. With a blockchain all nodes have to run the smart contract one after another rather than in parallel. Not only do you get the performance benefit of not having to run the code against every single node but you can also run them in parallel to others executing smart contracts.
You can read more about Treaty Contracts here

The different versions of Overledger

Enterprise version

The current live version is the Enterprise version as that is where most of the adoption is taking place in blockchain due to permissioned blockchains being preferred until permissionless blockchains resolve the scalability, privacy and regulatory issues. Please see this article which goes into more details about Entereprise blockchain / adoption. The Enterprise version connects to permissioned blockchains as well as additional features / support suited for Enterprises.

Community version

The community version is due to be released later this year which will allow developers to benefit from creating MAPPs across permissionless blockchains. Developers can publish their MAPPs on the MAPP Store to create additional revenue streams for developers.

Where does Overledger run from? Is it Centralised?

Overledger can run from anywhere. The community version will have instances across multiple public clouds, Enterprises / developers may prefer to host the infrastructure themselves within a consortium which they can and are doing. For example SIA is the leading private Financial Network provider in Europe, it provides a dedicated high speed network which connects all the major banks, central banks, trading venues etc. SIA host Overledger within their private network so that all of those clients can access it in the confinement of their heavily regulated, secure, fast network. AUCloud / UKCLoud host Overledger in their environment to offer as a service to their clients which consist of Governments and critical national infrastructure.
For Blockchain nodes that interact with Overledger the choice is entirely up to the developer. Each member within a consortium may choose to host a node, some developers may prefer to use 3rd party hosting providers such as Infura, or Quant can also host them if they prefer, its entirely their choice.
Overledger allows for higher levels of decentralisation by storing the output across multiple blockchains so you not only benefit from the decentralisation of one blockchain but the combination of all of them. Ultimately though decentralisation is thrown around too much without many actually understanding what it means. It’s impossible to have complete decentralisation, when you sign a transaction to be added to a blockchain ultimately you still connect through a single ISP, connect through a single router, or the input into a transaction is done through a piece of software etc. What matters to be decentralised is where trust is involved. As i have mentioned before you don’t need to trust the OS, it’s just providing instructions on how to interact with the blockchains, the end user is signing the transactions / encrypting at client side. Nothing can be seen or modified with the OS. Even if somehow the transaction did get modified then it would get rejected when consensus is done as the hash / digital signature won’t match at the destination blockchain. Where the transaction actually gets put onto the blockchain is where decentralisation matters, because thats what needs to be trusted and conensus is reached and Overledger enables this to be written across multiple blockchains at the same time.

The Team

The team are very well connected with a wealth of experience at very senior roles at Global enterprises which I will include a few examples below. Gilbert Verdian the CEO was the Head of security for the payment infrastructure for the Bank of England through his CISO role with Vocalink (Mastercard)managing £6 trillion every year. This is treated by the government as critical national infrastructure which is the highest level of criticallity because its so fundamental to the security of the country. They have experience and know what it takes to run a secure financial infrastructure and meeting requirements of regulators. Gilbert was director for Cybersecurity at PWC, Security for HSBC and Ernst & Young as well as various government roles such as the CISO for the Australian NSW Health, Head of Security at the UK government for Ministry of Justice and HM Treasury in addition to being part of the committee for the European Commission, US Federal Reserve and the Bank of England.
Cecilia Harvey is the Chief Operating Officer, where she was previously a Director at HSBC in Global Banking and Markets and before that Director at Vocalink. Cecilia was also Chief Operating Officer at Citi for Markets and Securities Services Technology as well as working for Barclays, Accenture, IBM and Morgan Stanley.
Vijay Verma is the Overledger platform lead with over 15 years of developer experience in latest technologies like Java, Scala, Blockchain & enterprise technology solutions. Over the course of his career, he has worked for a number of prestigious organisations including J&J, Deutsche, HSBC, BNP Paribas, UBS Banks, HMRC and Network Rail.
Guy Dietrich, the managing director of Rockefeller Capital (manages $19 Billion in assets) has joined the board of Quant Network, and has recently personally attended meetings with the Financial Conduct Authority (FCA) with Gilbert

https://preview.redd.it/wj5ubgv4efl31.png?width=566&format=png&auto=webp&s=2c0cb650f6aceae3d133beefdac04ba0aeea63f6
As well as advisors such as Paolo Tasca, the founder and Executive Director of the Centre for Blockchain Technologies (UCL CBT) at University College Londonfounder and executive director as well as Chris Adelsbach, Managing Director at Techstars, the worldwide network that helps entrepreneurs succeed. Techstars has partners such as Amazon, Barclays, Boeing, Ford, Google, Honda, IBM, Microsoft, PWC, Sony, Target, Total, Verizon, Western Union etc.
Due to client demand they are expanding to the US to setup a similar size office where board members such as Guy Dietrich will be extremely valuable in assisting with the expansion.
https://preview.redd.it/7zlrragqffl31.png?width=578&format=png&auto=webp&s=36980e86da6d050f086eb2171f679ac1716f97dc
The most exciting part about the project though is just how much adoption there has been of the platform, from huge global enterprises, governments and cloud providers they are on track for a revenue of $10 million in their first year. I will go through these in the next article, followed by further article explaining how the Token and Treasury works.
You can also find out more info about Quant at the following:
Part One — Blockchain Fundamentals
Part Two — The Layers Of Overledger
Part Three — TrustTag and the Tokenisation of data
Part Four — Features Overledger provides to MAPPs
Part Five — Creating the Standards for Interoperability
Part Six — The Team behind Overledger and Partners
Part Seven — The QNT Token
Part Eight — Enabling Enterprise Mass Adoption
Quant Network Enabling Mass Adoption of Blockchain at a Rapid Pace
Quant Network Partner with SIA, A Game Changer for Mass Blockchain Adoption by Financial Institutions
submitted by xSeq22x to CryptoCurrency [link] [comments]

The Saturn Time Cube (MEGATHREAD) Part 2

So we left off asking ourselves the question: what will happen when literally everything is linked up to the cube? In order to answer that question I think we should first take a step back and ask how it will happen.
If you’re familiar with the Bible you know that before the apocalypse begins there will be a world leader known as the antichrist. The antichrist will supposedly implement a new monetary system, one enforced by a certain ‘mark’.
“He causes all, both great and small, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark.” — Revelation 13
Some conspiracy theorists think this mark will be a computer chip implanted in your hand. This technology already exists, and some people are actually already utilizing it.
https://www.scmp.com/news/world/europe/article/2145896/thousands-people-sweden-get-microchip-implants-new-way-life
People get this chip because it’s convenient. You no longer have to carry around your ID or your credit cards. You’ll never lose them either, because they’re... attached to your body.
However, in order to make the chip mandatory, the first thing that has to happen is the eradication of all paper money. This is already happening. Most currency existing today is digital. In fact, it’s around 90%.
https://m.timesofindia.com/12-weird-but-true-facts-about-technology/92-of-The-worlds-currency-is-digital/photostory/51422304.cms
I believe cryptocurrency, you know shit like bitcoin, is major step in the direction of a cashless society. Will bitcoin be the new dollar? I don’t think so. But I do think there is a company out there paving the way for whatever it might be. That company is Chainlink.
Now that you know a bit about Saturn’s symbols, you can see why I find this company a bit creepy. But the weirdness doesn’t stop with their logos, it goes much deeper.
https://static.turbosquid.com/Preview/2018/02/07__08_55_26/chainlink02.jpeg6637B8AF-4C37-4977-8BE6-B3431444A3F3Default.jpg
First of all, the origins of Chainlink are a bit sketchy. What was supposed be a small startup, was given accolades by the big boys at the World Economic Forum.
https://m.imgur.com/LINKTrade3m9uC
Not only that but they are already working with the infamous SWIFT system. SWIFT, or the Society for Worldwide Interbank Financial Telecommunication, is a vast messaging network used by banks all over the world. To me this sounds like the infrastructure of a one world economic system.
They also recently aquired the Town Crier project. Look familiar?
https://tech.cornell.edu/wp-content/uploads/2018/12/town-crier_BAC-logo.png
https://i0.wp.com/www.whats-your-sign.com/wp-content/uploads/2018/02/SaturnSymbolMeaning.jpg?fit=1600%2C987&ssl=1
But even more strange, is the fact that one of Chainlink’s advisors, Ari Juels, seems to belong to a cult, the Cult of Demeter! He even references it on his personal webpage.
https://www.arijuels.com/whats-the-banner-about/
Demeter was the goddess of the harvest, agriculture, fertility and sacred law. Like we discussed earlier, Saturn was known for the same things. Saturn was also known as the god with a thousand names and was both male and female, so it is possible that Demeter was a personification of the ringed planet. However, this doesn’t make much of a difference. It’s still weird.
The cult of Demeter is a very old thing. It began in ancient Greece and was known for it’s yearly ceremonies where new members were initiated into the Eleusinian Mysteries. There is not much known about them, except that they stressed the importance of the cycle of descending into the underworld and returning anew. They tried their best to keep all of their rites, ceremonies, and beliefs a secret.
Ari Juels also wrote a bizarre novel called Tetrakyts. It’s about a secret cult of latter day followers of Pythagoras who are performing cyberattacks around the world. The numerology obsessed cyber terrorists believe they are oracles doing the work of God.
https://www.arijuels.com/fiction/
An oracle is a priest or priestess who acts as a medium for prophecy to be spoken through. Thousands of years ago, people would travel far and wide to ask them about the future. Chainlink literally calls itself an ‘oracle network’. Does Ari see himself as one of the cultists in his book?
The name of his book is a play on the word tetractys. The tetractys, or tetrad, is a mystical symbol and it was very important to the secret worship of Pythagoreanism. Pythagoras believed God was numbers.
Pythagoras, like those in the cult of Demeter, believed in reincarnation. He believed between each cycle of rebirth was a period of 216 years, which is the number six cubed, or 6³, which brings us back to the cube and 666.
So let’s pretend these people are paving the way to global cashless society. What else would need to happen? What about the mark on the forehead? Well, have you heard of Elon Musk’s Neuralink?
https://en.m.wikipedia.org/wiki/Neuralink
This new product is literally trying to link our brains up with our smartphones. As if we didn’t use them enough. I don’t think this is the mark of the beast, but I do think the technology is carving out the path towards it.
Any type of technology being implanted in my body is a scary thought. What if there’s a glitch or something? I think this technology will eventually be used for mind control.
Mind control technology already exists. Can you imagine how much easier it could be done if everyone had a chip in their brain? I believe those who take the mark will become a part of a hivemind, like the Borg from Star Trek, who ironically travel around in a cube!
https://patents.google.com/patent/US6506148B2/en
The hivemind is already happening. Everyone’s thoughts are constantly being shaped by the subliminal programming and propaganda the television and radio feed them. I hate to say it, schools to blame as well. Ever wonder why you wear a black cube on your head at your gradual indoctrination ceremony? Whoops, I mean graduation...
Scientists estimate by the year 2045 humans will be able to upload their consciousness into the ‘cloud’ or onto a computer or robotic body and live forever. I don’t know about you, but living forever sounds like Hell, and that might be the meaning of the mark sending people straight to the fiery furnace.
http://2045.com
https://en.m.wikipedia.org/wiki/2045_Initiative
The new virtual reality game Observation and Netflix movie 2036 Origin Unknown show us this merging of man with machine and it’s affiliation with Saturn. Spoiler alert for the next two paragraphs.
In Observation, a woman and her AI companion crash land their space ship inside Saturn’s hexagonal storm. They find themselves on an alternate Earth where all possible timelines have merged into one. It’s here that they become one entity.
In 2036 Origin Unknown a massive black cube is found on Mars. Again, a woman and her AI companion are trying to study it. After a series of events that results in the nuclear destruction of planet earth, it is revealed that the woman was inside the cube the whole time and that she was actually a copy of her real self being tested by the AI over and over again.
Is this the game we’ve been playing for all of time? Are they creating a simulation within the simulation to further trap us in a hall of mirrors? We might already have the mark. Just take a look at what our DNA is made of.
http://www.mostholyplace.com/wpimages/wp5386c9a0_01_1a.jpg
Without the mark we can not buy or sell, or rather, we can not participate in commerce. Commerce is defined as intercourse. Without your carbon based body you could not have sex and reproduce. In fact, your birth certificate is really a bank note, which means you, the citizen are what is known in the stock market as a commodity.
So how do we escape this time loop, this serpent biting its own tail? How do we hop off the wheel? I hinted at it earlier, but if this thread gets just as good as a reaction as the last one, I will continue the series. Thank you for reading.
submitted by nickhintonn333 to PastSaturnsRings [link] [comments]

What is Quant Networks Blockchain Operating System, Overledger? And why are Enterprises adopting it at mass scale?

Won't let me post the related images here, but please refer to this article which includes them https://medium.com/@CryptoSeq/what-is-a-blockchain-operating-system-and-what-are-the-benefits-c561d8275de6
Overledger is the world’s first blockchain operating system (OS) that not only inter-connects blockchains but also existing enterprise platforms, applications and networks to blockchain and facilitates the creation of internet scale multi-chain applications otherwise known as mApps.
In less than 10 months since launching Overledger they have provided interoperability with the full range of DLT technologies from all the leading Enterprise Permissioned blockchains such as Hyperledger, R3’s Corda, JP Morgan’s Quorum, permissioned variants of Ethereum and Ripple (XRPL) as well as the leading Public Permissionless blockchains / DAGs such as Bitcoin, Stellar, Ethereum, IOTA and EOS as well as the most recent blockchain to get added Binance Chain. In addition, Overledger also connects to Existing Networks / Off Chain / Oracle functionality and it does all of this in a way that is hugely scalable, without imposing restrictions / requiring blockchains to fork their code and can easily integrate into existing applications / networks by just adding 3 lines of code.

What is a blockchain Operating system?

You will be familiar with Operating systems such as Microsoft Windows, Apple Mac OS, Google’s Android etc but these are all Hardware based Operating Systems. Hardware based Operating Systems provide a platform to build and use applications that abstracts all of the complexities involved with integrating with all the hardware resources such as CPU, Memory, Storage, Mouse, Keyboard, Video etc so software can easily integrate with it. It provides interoperability between the Hardware devices and Software.
Overledger is a Blockchain Operating System, it provides a platform to build and use applications that abstracts all of the complexities involved with integrating with all the different blockchains, different OP_Codes being used, messaging formats etc as well as connecting to existing non-blockchain networks. It provides interoperability between Blockchains, Existing Networks and Software / MAPPs

How is Overledger different to other interoperability projects?

Other projects are trying to achieve interoperability by adding another blockchain on top of existing blockchains. This adds a lot of overhead, complexity, and technical risk. There are a few variants but essentially they either need to create custom connectors for each connected blockchain and / or require connected chains to fork their code to enable interoperability. An example of the process can be seen below:
User sends transaction to a multi sig contract on Blockchain A, wait for consensus to be reached on Blockchain A
A custom connector consisting of Off Chain Relay Nodes are monitoring transactions sent to the smart contract on Blockchain A. Once they see the transaction, they then sign a transaction on the Interoperability blockchain as proof the event has happened on Blockchain A.
Wait for consensus to be reached on the Interoperability Blockchain.
The DAPP running on the Interoperability Blockchain is then updated with the info about the transaction occurring on Blockchain A and then signs a transaction on the Interoperability blockchain to a multi sig contract on the Interoperability Blockchain.
Wait for consensus to be reached on the interoperability Blockchain.
A different custom connector consisting of Off Chain Relay Nodes are monitoring transactions sent to the Smart Contract on the Interoperability Blockchain which are destined for Blockchain B. Once they see the transaction, they sign a transaction on Blockchain B. Wait for consensus to be reached on Blockchain B.

Other solutions require every connecting blockchain to fork their code and implement their Interoperability protocol. This means the same type of connector can be used instead of a custom one for every blockchain however every connected blockchain has to fork their code to implement the protocol. This enforces a lot of restrictions on what the connected blockchains can implement going forward.
Some problems with these methods:

But some Interoperability blockchains say they are infinitely scalable?

If the interoperability blockchain is limited to say 200 tps then the idea is to just have multiple instances of the blockchain and run them in parallel, so you benefit from the aggregated tps, but just how feasible is that? Lets say you want to connect Corda (capable of 2000+ tps) to Hyperledger (capable of up to 20,000 tps with recent upgrade). (Permissioned blockchains such as Hyperledger and Corda aren’t one big blockchain like say Bitcoin or Ethereum, they have separate instances for each consortium and each is capable of those speeds). So even when you have just 1 DAPP from one consortium that wants to connect Corda to Hyperledger and use 2000 tps for their DAPP, you would need 100 instances of the Interoperability blockchain, each with their own validators (which maybe 100–200 nodes each). So, 1 DAPP would need to cover the costs for 100 instances of the blockchain and running costs for 10,000 nodes…This is just one DAPP connected to one instance of a two permissioned blockchains, which are still in the early stages. Other blockchains such as Red Belly Blockchain can achieve 440,000 tps, and this will surely increase as the technology matures. There is also the added complexity of then aggregating the results / co-coordinating between the different instances of the blockchain. Then there are the environmental concerns, the power required for all of these instances / nodes is not sustainable.
It’s not just transactions per second of the blockchain as well, its the latency of all these added consensuses along the path to reach to the destination and not knowing whether the security of each of the hops is sufficient and can be trusted. To see examples of how this potential issue as well as others effect Cosmos you can see my article here. I recommend also reading a blog done by the CEO of Quant, Gilbert Verdian, which explains how Overledger differs here as well as detailed in the whitepaper here.

Overledger’s approach

In 1973 Vint Cerf invented the protocol that rules them all: TCP/IP. Most people have never heard of it. But it describes the fundamental architecture of the internet, and it made possible Wi-Fi, Ethernet, LANs, the World Wide Web, e-mail, FTP, 3G/4G — as well as all of the inventions built upon those inventions.
Wired: So from the beginning, people, including yourself, had a vision of where the internet was going to go. Are you surprised, though, that at this point the IP protocol seems to beat almost anything it comes up against? Cerf: I’m not surprised at all because we designed it to do that. This was very conscious. Something we did right at the very beginning, when we were writing the specifications, we wanted to make this a future-proof protocol. And so the tactic that we used to achieve that was to say that the protocol did not know how — the packets of the internet protocol layer didn’t know how they were being carried. And they didn’t care whether it was a satellite link or mobile radio link or an optical fiber or something else. We were very, very careful to isolate that protocol layer from any detailed knowledge of how it was being carried. Plainly, the software had to know how to inject it into a radio link, or inject it into an optical fiber, or inject it into a satellite connection. But the basic protocol didn’t know how that worked. And the other thing that we did was to make sure that the network didn’t know what the packets had in them. We didn’t encrypt them to prevent it from knowing — we just didn’t make it have to know anything. It’s just a bag of bits as far as the net was concerned. We were very successful in these two design features, because every time a new kind of communications technology came along, like frame relay or asynchronous transfer mode or passive optical networking or mobile radio‚ all of these different ways of communicating could carry internet packets. We would hear people saying, ‘The internet will be replaced by X25,’ or ‘The internet will be replaced by frame relay,’ or ‘The internet will be replaced by APM,’ or ‘The internet will be replaced by add-and-drop multiplexers.’ Of course, the answer is, ‘No, it won’t.’ It just runs on top of everything. And that was by design. I’m actually very proud of the fact that we thought of that and carefully designed that capability into the system.
This is the approach Quant have taken with their Blockchain OS, Overledger to solve Blockchain interoperability. Compared to other Interoperability platforms that are trying to achieve interoperability at the transaction layer by connecting two blockchains via another blockchain, these will be ultimately be made redundant once faster methods are released. Overledger is designed to be future proof by isolating the layers so it doesn’t matter whether it’s a permissioned blockchain, permissionless, DAG, Legacy network, POW, POS etc because it abstracts the transaction layer from the messaging layer and runs on top of blockchains. Just as the Internet wasn’t replaced by X25, frame relay, APM etc, Overledger is designed to be future proof as it just runs on top of the Blockchains rather than being a blockchain itself. So, if a new blockchain technology comes out that is capable of 100,000 TPS then it can easily be integrated as Overledger just runs on top of it.
Likewise, with protocols such as HTTPS, SSH etc these will also emerge for blockchains such as ZK-Snarks and other privacy implementations as well as other features made available, all will be compatible with Overledger as its just sitting on top rather than forcing their own implementation for all.
It doesn’t require blockchains to fork their code to make it compatible, it doesn’t add the overhead of adding another blockchain with another consensus mechanism (most likely multiple as it has to go through many hops). All of this adds a lot of latency and restrictions which isn’t needed. The developer can just choose which blockchains they want to connect and use the consensus mechanisms of those blockchains rather than forced to use one.
Overledger can provide truly internet scale to meet whatever the demands may be, whether that be connecting multiple red belly blockchains together with 440,000 tps it doesn’t matter as it doesn’t add its consensus mechanism and uses proven internet scale technology such as that based on Kubernetes, which is where each task is split up into a self-contained container and each task is scaled out by deploying more to meet demand. Kubernetes is what runs Google Search engine where they scale up and down billions of containers every week.
Due to this being more of a summary, I strongly recommend you read this article which goes into detail about the different layers in Overledger.

But how does it provide the security of a blockchain if it doesn’t add its own blockchain?

This is often misunderstood by people. Overledger is not a blockchain however it still uses a blockchain for security, immutability, traceability etc, just rather than force people to use their own blockchain, it utilises the source and destination blockchains instead. The key thing to understand is the use of its patented technology TrustTag, which was made freely available to anyone with the Overledger SDK.
Please see this article which explains TrustTag in detail with examples showing how hashing / digital signatures work etc
A quick overview is if i want to send data from one blockchain to another the Overledger SDK using Trusttag will put the data through a hashing algorithm. The Hash is then included in digital signature as part of the transaction which is signed by the user’s private key and then validated through normal consensus and stored as metadata on the source blockchain. The message is then sent to the MAPP off chain. The MAPP periodically scans the blockchains and puts the received message through a hashing algorithm and compares the Hash to the one stored as metadata on the blockchain. This ensures that the message hasn’t been modified in transit, the message is encrypted and only the Hash is stored on chain so completely private, provides immutability as it was signed by the user’s private key which only they have and is stored on the blockchain for high availability and secure so that it can’t be modified, with the ability to refer back to it at any point in time.
Despite Overledger being a very secure platform, with the team having a very strong security background such as Gilbert who was chief security information officer for Vocalink (Bank of England) managing £6 trillion of payments every year and classified as national critical security (highest level you can get), ultimately you don’t need to trust Overledger. Transactions are signed and encrypted at client side, so Overledger has no way of being able to see the contents. It can’t modify any transaction as the digital signature which includes a hash of the transaction would be different so would get rejected. Transaction security isn’t reduced as it is signed at source using however many nodes the source blockchain has rather than a smaller amount of nodes with an interoperability blockchain in the middle.

Patents

The core code of Overledger is closed source and patented, one of the recent patents can be seen here, along with TrustTag and further ones are being filed. The Overledger SDK is open source and is available in Java and Javascript currently, with plans to support Pyhton and Ruby in the near future. Java and Javascript are the most popular programming languages used today.
The Blockchain connectors are also open source and this allows the community to create connectors to connect their favourite blockchain so that it can benefit from blockchain interoperability and making it available to all enterprises / developers currently utilising Overledger. Creating is currently taking around a week to implement and so far, have been added based upon client demand.

Multi Chain Applications (MAPPs)

Multi Chain Applications (MAPPs) enable an application to use multiple blockchains and interoperate between them. Treaty Contracts enable a developer to build a MAPP and then change the underlying blockchain it uses with just a quick change of couple of lines of code. This is vital for enterprises as it’s still early days in Blockchian and we don’t know which are going to be the best blockchain in the future. Overledger easily integrates into existing applications using the Overledger SDK by just adding 3 lines of code. They don’t need to completely rewrite the application like you do with the majority of other projects and all existing java / javascript apps on Windows / Mobile app stores / business applications etc can easily integrate with overledger with minimal changes in just 8 minutes.

Treaty Contracts

What Overledger will allow with Treaty contracts is to use popular programming languages such as Java and create a smart contract in Overledger that interacts with all of the connected blockchains. Even providing Smart contract functionality to blockchains that don’t support them such as Bitcoin. This means that developers don’t have to create all the smart contracts on each blockchain in all the different programming languages but instead just create them in Overledger using languages such as Java that are widely used today. If they need to use a different blockchain then it can be as easy as changing a line of code rather than having to completely rewrite the smart contracts.
Overledger isn’t a blockchain though, so how can it trusted with the smart contract? A Hash of the smart contract is published on any blockchain the MAPP developer requires and when called the smart contract is run its run through a hashing function to check that it matches the Hash value stored on the blockchain, ensuring that it has not been modified.
By running the Smart contract off chain this also increases Scalability enormously. With a blockchain all nodes have to run the smart contract one after another rather than in parallel. Not only do you get the performance benefit of not having to run the code against every single node but you can also run them in parallel to others executing smart contracts.
You can read more about Treaty Contracts here

The different versions of Overledger

Enterprise version

The current live version is the Enterprise version as that is where most of the adoption is taking place in blockchain due to permissioned blockchains being preferred until permissionless blockchains resolve the scalability, privacy and regulatory issues. Please see this article which goes into more details about Entereprise blockchain / adoption. The Enterprise version connects to permissioned blockchains as well as additional features / support suited for Enterprises.

Community version

The community version is due to be released later this year which will allow developers to benefit from creating MAPPs across permissionless blockchains. Developers can publish their MAPPs on the MAPP Store to create additional revenue streams for developers.

Where does Overledger run from? Is it Centralised?

Overledger can run from anywhere. The community version will have instances across multiple public clouds, Enterprises / developers may prefer to host the infrastructure themselves within a consortium which they can and are doing. For example SIA is the leading private Financial Network provider in Europe, it provides a dedicated high speed network which connects all the major banks, central banks, trading venues etc. SIA host Overledger within their private network so that all of those clients can access it in the confinement of their heavily regulated, secure, fast network. AUCloud / UKCLoud host Overledger in their environment to offer as a service to their clients which consist of Governments and critical national infrastructure.
For Blockchain nodes that interact with Overledger the choice is entirely up to the developer. Each member within a consortium may choose to host a node, some developers may prefer to use 3rd party hosting providers such as Infura, or Quant can also host them if they prefer, its entirely their choice.
Overledger allows for higher levels of decentralisation by storing the output across multiple blockchains so you not only benefit from the decentralisation of one blockchain but the combination of all of them. Ultimately though decentralisation is thrown around too much without many actually understanding what it means. It’s impossible to have complete decentralisation, when you sign a transaction to be added to a blockchain ultimately you still connect through a single ISP, connect through a single router, or the input into a transaction is done through a piece of software etc. What matters to be decentralised is where trust is involved. As i have mentioned before you don’t need to trust the OS, it’s just providing instructions on how to interact with the blockchains, the end user is signing the transactions / encrypting at client side. Nothing can be seen or modified with the OS. Even if somehow the transaction did get modified then it would get rejected when consensus is done as the hash / digital signature won’t match at the destination blockchain. Where the transaction actually gets put onto the blockchain is where decentralisation matters, because thats what needs to be trusted and conensus is reached and Overledger enables this to be written across multiple blockchains at the same time.

The Team

The team are very well connected with a wealth of experience at very senior roles at Global enterprises which I will include a few examples below. Gilbert Verdian the CEO was the Head of security for the payment infrastructure for the Bank of England through his CISO role with Vocalink (Mastercard)managing £6 trillion every year. This is treated by the government as critical national infrastructure which is the highest level of criticallity because its so fundamental to the security of the country. They have experience and know what it takes to run a secure financial infrastructure and meeting requirements of regulators. Gilbert was director for Cybersecurity at PWC, Security for HSBC and Ernst & Young as well as various government roles such as the CISO for the Australian NSW Health, Head of Security at the UK government for Ministry of Justice and HM Treasury in addition to being part of the committee for the European Commission, US Federal Reserve and the Bank of England.
Cecilia Harvey is the Chief Operating Officer, where she was previously a Director at HSBC in Global Banking and Markets and before that Director at Vocalink. Cecilia was also Chief Operating Officer at Citi for Markets and Securities Services Technology as well as working for Barclays, Accenture, IBM and Morgan Stanley.
Vijay Verma is the Overledger platform lead with over 15 years of developer experience in latest technologies like Java, Scala, Blockchain & enterprise technology solutions. Over the course of his career, he has worked for a number of prestigious organisations including J&J, Deutsche, HSBC, BNP Paribas, UBS Banks, HMRC and Network Rail.
Guy Dietrich, the managing director of Rockefeller Capital (manages $19 Billion in assets) has joined the board of Quant Network, and has recently personally attended meetings with the Financial Conduct Authority (FCA) with Gilbert
https://twitter.com/gverdian/status/1168628166644183042
As well as advisors such as Paolo Tasca, the founder and Executive Director of the Centre for Blockchain Technologies (UCL CBT) at University College Londonfounder and executive director as well as Chris Adelsbach, Managing Director at Techstars, the worldwide network that helps entrepreneurs succeed. Techstars has partners such as Amazon, Barclays, Boeing, Ford, Google, Honda, IBM, Microsoft, PWC, Sony, Target, Total, Verizon, Western Union etc.
Due to client demand they are expanding to the US to setup a similar size office where board members such as Guy Dietrich will be extremely valuable in assisting with the expansion.
The most exciting part about the project though is just how much adoption there has been of the platform, from huge global enterprises, governments and cloud providers they are on track for a revenue of $10 million in their first year. I will go through these in the next article, followed by further article explaining how the Token and Treasury works.
You can also find out more info about Quant at the following:
Part One — Blockchain Fundamentals
Part Two — The Layers Of Overledger
Part Three — TrustTag and the Tokenisation of data
Part Four — Features Overledger provides to MAPPs
Part Five — Creating the Standards for Interoperability
Part Six — The Team behind Overledger and Partners
Part Seven — The QNT Token
Part Eight — Enabling Enterprise Mass Adoption
Quant Network Enabling Mass Adoption of Blockchain at a Rapid Pace
Quant Network Partner with SIA, A Game Changer for Mass Blockchain Adoption by Financial Institutions
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Ripple XRP: Global Changes To “Digital Assets” & The European Central Bank Eyes Ripple & XRP

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