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Flatten the Curve. #49. Let's Dig into Jade Helm. AI. The Surveillance State. Internet of Things. FISA. Pentagon Preparing for Mass Civil Breakdown. What is Mob Excess Deterrent Using Silent Audio? Stay Aware and Get Ahead of the Curve.

Flatten the Curve. Part 48. Source Here
It's getting crazier day by day now, so are you following the Boy Scout motto?
On this topic, Baden-Powell says: Remember your motto, "Be Prepared." Be prepared for accidents by learning beforehand what you ought to do in the different kinds that are likely to occur. Be prepared to do that thing the moment the accident does occur. In Scouting for Boys, Baden-Powell wrote that to Be Prepared means “you are always in a state of readiness in mind and body to do your duty.”
Why should you be prepared? Because TPTB have been preparing, that’s why.
June 12, 2014: The Guardian • Pentagon preparing for mass civil breakdown. Social science is being militarised to develop 'operational tools' to target peaceful activists and protest movements Source Here
Pentagon preparing for mass civil breakdown. It seemed ludicrous back in 2014, didn't it? Inconceivable. Sure some preppers believed it, but they're always getting ready and nothing happened. Doomsday was always right around the corner, and then the next corner, and on and on. Televangelists have probably accused more politicians of being the antichrist than the number of politicians went to Epstein's Island.
But why would they be preparing for mass civil breakdown? Could it be the same reason as why the miltary is preparing for war, droughts and famines brought about by environmental collapse?
February 20, 2020: History Network • Here’s Why These Six Ancient Civilizations Mysteriously Collapsed. From the Maya to Greenland’s Vikings, check out six civilizations that seemingly disappeared without a trace. Source Here
All of these civilizations vanished because of some combination of exhausting their natural resources, drought, plauge, and the little ice age. Sound familiar? Don't tell me that the Rockefeller Foundation and BlackRock became environmentally aware out of a sense of obligation to the planet. They're setting the groundwork for what's coming down the pipe. This isn't about money anymore, this is about control and survival. Throw out the rulebook because the rules no longer apply.
Do you think the surveillance system is for your protection, or the protection of the state? Don't you think that an era of upcoming calamities will severely damage the communication networks, and thus the surveillance system? It might be prudent to consider that Starlink is being established to make the system redundant, so that they never lose track of the precious worker bees before they can be connected to the AI hive mind, right Elon? Neuralink, don't leave home without it.
But let's not forget about the wonderful world of the Internet of Things.
March 15, 2012 • More and more personal and household devices are connecting to the internet, from your television to your car navigation systems to your light switches. CIA Director David Petraeus cannot wait to spy on you through them. Earlier this month, Petraeus mused about the emergence of an "Internet of Things" -- that is, wired devices -- at a summit for In-Q-Tel, the CIA's venture capital firm. "'Transformational' is an overused word, but I do believe it properly applies to these technologies," Petraeus enthused, "particularly to their effect on clandestine tradecraft." All those new online devices are a treasure trove of data if you're a "person of interest" to the spy community. Once upon a time, spies had to place a bug in your chandelier to hear your conversation. With the rise of the "smart home," you'd be sending tagged, geolocated data that a spy agency can intercept in real time when you use the lighting app on your phone to adjust your living room's ambiance. "Items of interest will be located, identified, monitored, and remotely controlled through technologies such as radio-frequency identification, sensor networks, tiny embedded servers, and energy harvesters -- all connected to the next-generation internet using abundant, low-cost, and high-power computing," Petraeus said, "the latter now going to cloud computing, in many areas greater and greater supercomputing, and, ultimately, heading to quantum computing." Petraeus allowed that these household spy devices "change our notions of secrecy" and prompt a rethink of "our notions of identity and secrecy." All of which is true -- if convenient for a CIA director. The CIA has a lot of legal restrictions against spying on American citizens. But collecting ambient geolocation data from devices is a grayer area, especially after the 2008 carve-outs to the Foreign Intelligence Surveillance Act. Hardware manufacturers, it turns out, store a trove of geolocation data; and some legislators have grown alarmed at how easy it is for the government to track you through your phone or PlayStation. That's not the only data exploit intriguing Petraeus. He's interested in creating new online identities for his undercover spies -- and sweeping away the "digital footprints" of agents who suddenly need to vanish. "Proud parents document the arrival and growth of their future CIA officer in all forms of social media that the world can access for decades to come," Petraeus observed. "Moreover, we have to figure out how to create the digital footprint for new identities for some officers." Source Here
December 19, 2019: New York Times • THE DATA REVIEWED BY TIMES OPINION didn’t come from a telecom or giant tech company, nor did it come from a governmental surveillance operation. It originated from a location data company, one of dozens quietly collecting precise movements using software slipped onto mobile phone apps. You’ve probably never heard of most of the companies — and yet to anyone who has access to this data, your life is an open book. They can see the places you go every moment of the day, whom you meet with or spend the night with, where you pray, whether you visit a methadone clinic, a psychiatrist’s office or a massage parlor. The Times and other news organizations have reported on smartphone tracking in the past. But never with a data set so large. Even still, this file represents just a small slice of what’s collected and sold every day by the location tracking industry — surveillance so omnipresent in our digital lives that it now seems impossible for anyone to avoid. It doesn’t take much imagination to conjure the powers such always-on surveillance can provide an authoritarian regime like China’s. Within America’s own representative democracy, citizens would surely rise up in outrage if the government attempted to mandate that every person above the age of 12 carry a tracking device that revealed their location 24 hours a day. Yet, in the decade since Apple’s App Store was created, Americans have, app by app, consented to just such a system run by private companies. Now, as the decade ends, tens of millions of Americans, including many children, find themselves carrying spies in their pockets during the day and leaving them beside their beds at night — even though the corporations that control their data are far less accountable than the government would be. Source Here
The IoT should be renamed to IoTT (Internet of Tracking Things), shouldn't it. But we can't have people figure out what's really happening, can we? It's a good thing that quantum computing isn't too close, isn’t it?
April 5, 2018: Global News • (Project Maven) Over 3,000 Google employees have a signed a petition in protest against the company’s involvement with a U.S. Department of Defense artificial intelligence (AI) project that studies imagery and could eventually be used to improve drone strikes in the battlefield. Source Here
December 12, 2019 • Palantir took over Project Maven defense contract after Google backed out. Source Here
December 29, 2020: Input • Palantir exec says its work is on par with the Manhattan Project. Comparing AI to most lethal weapon in human history isn’t comforting. SourceHere
August 14, 2020: Venture: • Google researchers use quantum computing to help improve image classification. Source Here
Hmmm. Maybe Apple will be for the little guy? They have always valued privacy rights, right?
October 2, 2013: Vice News • The hacktivist group Anonymous released a video statement with an accompanying Pastebin document claiming that there are definitive links between AuthenTec, the company that developed the iPhone 5S’s fingerprint scanner, and the US government. Source Here
An apple a day helps the NSA. Or Google. Or Microsoft. Or Amazon. Take your pick from the basket, because dem Apple's are all the same. But at least we have fundamental rights, right?
Foreign agent declaration not required • No mention of foreign agent status is made in the Protect America Act of 2007. Under prior FISA rules, persons targeted for surveillance must have been declared as foreign agents before a FISA warrant would be accorded by the FISC court.
'Quasi-anti-terrorism law' for all-forms of intelligence collection • Vastly marketed by U.S. federal and military agencies as a law to prevent terror attacks, the Protect America Act was actually a law focused on the 'acquisition' of desired intelligence information, of unspecified nature. The sole requirement is geolocation outside the United States at time of Directive invocation; pursuant to Authorization or Order invocation, surveillance Directives can be undertaken towards persons targeted for intelligence information gathering. Implementation of Directives can take place inside the United States or outside the United States. No criminal or terrorism investigation of the person need be in play at time of the Directive. All that need be required is that the target be related to an official desire for intelligence information gathering for actions on part of persons involved in surveillance to be granted full immunity from U.S. criminal or civil procedures, under Section 105B(l) of the Act.
Removal of FISA Strictures from warrant authorization; warrants not required • But the most striking aspect of the Protect America Act was the notation that any information gathering did not comprise electronic surveillance. This wording had the effect of removing FISA-related strictures from Protect America Act 2007-related Directives, serving to remove a number of protections for persons targeted, and requirements for persons working for U.S. intelligence agencies.
The acquisition does not constitute electronic surveillance • The removal of the term electronic surveillance from any Protect America Act Directive implied that the FISC court approval was no longer required, as FISA warrants were no longer required. In the place of a warrant was a certification, made by U.S. intelligence officers, which was copied to the Court. In effect, the FISC became less of a court than a registry of pre-approved certifications.Certifications (in place of FISA warrants) were able to be levied ex post facto, in writing to the Court no more than 72 hours after it was made. The Attorney General was to transmit as soon as possible to the Court a sealed copy of the certification that would remain sealed unless the certification was needed to determine the legality of the acquisition.Source Here
Oh. FISA is basically a rubber stamp. And even if it the stage play wasn't pretending to follow the script, would it matter? Who could actually stop it at this point? The cat's out of the bag and Pandoras Box is open.
Controversial debates arose as the Protect America Act was published. Constitutional lawyers and civil liberties experts expressed concerns that this Act authorized massive, wide-ranging information gathering with no oversight. Whereas it placed much focus on communications, the Act allowed for information gathering of all shapes and forms. The ACLU called it the "Police America Act" – "authorized a massive surveillance dragnet", calling the blank-check oversight provisions "meaningless," and calling them a "phony court review of secret procedures."
So the surveillance state doesn't have checks and balances anymore. The state is preparing for Massive Civil Breakdown. They keep warning us about environmental collapse. Got it? Good. Let's keep on keeping on.
The District of Columbia Organic Act of 1871 created a single new district corporation governing the entire federal territory, called the District of Columbia, thus dissolving the three major political subdivisions of the District (Port of Georgetown, the City of Washington, and Washington County) and their governments. Source Here)
The first big leap in corporate personhood from holding mere property and contract rights to possessing more expansive rights was a claim that the Equal Protection Clause applied to corporations. One of the strangest twists in American constitutional law was the moment that corporations gained personhood under the Equal Protection Clause of the Fourteenth Amendment. It occurred in a case called Santa Clara County, and what was odd was that the Supreme Court did not really even decide the matter in the actual opinion. It only appeared in a footnote to the case. What we are likely to have at the conclusion of the Supreme Court term is corporations that are empowered to spend in American elections because of Bellotti and Citizens United; corporations that can make religious objections thanks to Hobby Lobby; and if Jesner turns out as badly as I predict, corporations will be able to aid and abet human rights violations abroad with impunity. Source Here
"Having a corporation would allow people to put property into a collective ownership that could be held with perpetual existence," she says. "So it wouldn't be tied to any one person's lifespan, or subject necessarily to laws regarding inheriting property." Later on, in the United States and elsewhere, the advantages of incorporation were essential to efficient and secure economic development. Unlike partnerships, the corporation continued to exist even if a partner died; there was no unanimity required to do something; shareholders could not be sued individually, only the corporation as a whole, so investors only risked as much as they put into buying shares. Source Here
The way that the Arab Bank may get away with this alleged morally troubling behavior, even though it has a New York branch, is by reasserting the basic argument that was made in Nestle USA and Kiobel II: that the federal Alien Tort Statute was not intended to apply to corporations full stop. Given other cases in this area like Mohamad v. PLO, which held the word “individual” in the Torture Victim Protection Act means a natural person and does not impose any liability against organizations, the Arab Bank’s procorporate argument may well prevail. There are multiple federal Circuit Courts which have shot down the argument that corporations are immune from suit under the Alien Tort Statute. The lone outlier is the Second Circuit, which decided in 2010 that corporations are excused from suit in Kiobel I. This is the case that was appealed to the Supreme Court and became Kiobel II. Jesner v. Arab Bank was litigated in the Second Circuit. One question in Jesner was what exactly did Kiobel II do to Kiobel I. So far in the litigation, Jesner concluded that Kiobel I and its conclusion that corporations can’t be sued in federal court using the Alien Tort Statute remained the controlling law of the Second Circuit.
There's a reason people call lawyers snakes, it's because most of them speak with forked tounges. So the corporation isn't being held liable, but the shareholders can't be held liable either. That's too insane to even be called a Catch 22. We are literally being set up to have no recourse because there isn’t anybody who can be held responsible. Why is that important when I've been talking about the surveillance state?
July 14, 2020: The Intercept • Microsoft’s police surveillance services are often opaque because the company sells little in the way of its own policing products. It instead offers an array of “general purpose” Azure cloud services, such as machine learning and predictive analytics tools like Power BI (business intelligence) and Cognitive Services, which can be used by law enforcement agencies and surveillance vendors to build their own software or solutions. A rich array of Microsoft’s cloud-based offerings is on full display with a concept called “The Connected Officer.” Microsoft situates this concept as part of the Internet of Things, or IoT, in which gadgets are connected to online servers and thus made more useful. “The Connected Officer,” Microsoft has written, will “bring IoT to policing.” With the Internet of Things, physical objects are assigned unique identifiers and transfer data over networks in an automated fashion. If a police officer draws a gun from its holster, for example, a notification can be sent over the network to alert other officers there may be danger. Real Time Crime Centers could then locate the officer on a map and monitor the situation from a command and control center. Source Here
Uhm, I guess it's really is all connected, isn’t it?
June 18, 2020: The Guardian • How Target, Google, Bank of America and Microsoft quietly fund police through private donations. More than 25 large corporations in the past three years have contributed funding to private police foundations, new report says. Source Here
Long live the Military Industrial Techno Surveillance State. If you have nothing to hide, than you have nothing to worry about. Really? Are we still believing that line? Cause it's a load of crap. If we have nothing to worry about, then why are they worried enough to be implementing surveillance systems with corresponding units on the ground? Got your attention there, didn't I?
August 19, 2019: Big Think • Though the term "Orwellian" easily applies to such a technology, Michel's illuminating reporting touches something deeper. Numerous American cities have already been surveilled using these god-like cameras, including Gorgon Stare, a camera-enabled drone that can track individuals over a 50-square kilometer radius from 20,000 feet. Here's the real rub: the feature that allows users to pinch and zoom on Instagram is similar to what WAMI allows. Anything within those 50-square kilometers is now under the microscope. If this sounds like some futuristic tech, think again: Derivations of this camera system have been tested in numerous American cities. Say there is a big public protest. With this camera you can follow thousands of protesters back to their homes. Now you have a list of the home addresses of all the people involved in a political movement. If on their way home you witness them committing some crime—breaking a traffic regulation or frequenting a location that is known to be involved in the drug trade—you can use that surveillance data against them to essentially shut them up. That's why we have laws that prevent the use of surveillance technologies because it is human instinct to abuse them. That's why we need controls. Source Here
Want to know more about the Gorgon Stare? Flatten the Curve. Part 12. Source Here
Now, I'm not sure if you remember or know any Greek Mythology, but the Gorgons were three sisters, and one sister had Snakes on her head (she wasn't a lawyer) and she turned people to stone when she looked at them.
MEDUSA (Mob Excess Deterrent Using Silent Audio) is a directed-energy non-lethal weapon designed by WaveBand Corporation in 2003-2004 for temporary personnel incapacitation. The weapon is based on the microwave auditory effect resulting in a strong sound sensation in the human head when it is subject to certain kinds of pulsed/modulated microwave radiation. The developers claimed that through the combination of pulse parameters and pulse power, it is possible to raise the auditory sensation to a “discomfort” level, deterring personnel from entering a protected perimeter or, if necessary, temporarily incapacitating particular individuals. In 2005, Sierra Nevada Corporation acquired WaveBand Corporation.
Ok. Get it? The Gorgon eye in the sky stares at you while the Medusa makes you immobile. Not good, but at least it'll just freeze you in your tracks.
July 6, 2008: Gizmodo • The Sierra Nevada Corporation claimed this week that it is ready to begin production on the MEDUSA, a damned scary ray gun that uses the "microwave audio effect" to implant sounds and perhaps even specific messages inside people's heads. Short for Mob Excess Deterrent Using Silent Audio, MEDUSA creates the audio effect with short microwave pulses. The pulses create a shockwave inside the skull that's detected by the ears, and basically makes you think you're going balls-to-the-wall batshit insane. Source Here
Uhm. And drive you insane.
July 26, 2008: Gizmodo • The MEDUSA crowd control ray gun we reported on earlier this month sounded like some pretty amazing-and downright scary-technology. Using the microwave auditory effect, the beam, in theory, would have put sounds and voice-like noises in your head, thereby driving you away from the area. Crowd control via voices in your head. Sounds cool. However, it turns out that the beam would actually kill you before any of that happy stuff started taking place, most likely by frying or cooking your brain inside your skull. Can you imagine if this thing made it out into the field? Awkward! Source Here
Annnnnnnndddddd it'll kill you.
Guys, they're prepared. They've been prepared. They're ready. Remember the Doomsday Bunkers? The military moving into Cheyenne Mountain? Deep Underground Military Bunkers? The rapid rolling out of 5G? BITCOIN and UBI so neatly inserted into our minds over the last five years? They've directly told us to have three months of supplies in our homes. 2020 isn't going to be an anomaly? It's the start of the collapse of our natural resources. Take a look on Reddit and all the posts about crazy weather. Cyanobacteria blooms killing dogs and people. Toxic Super Pollution caused by atmospheric inversions killing people. This isn’t normal, this is New Normal. And they know it. They've known it for a while. Let me show you one last thing before I wrap it up.
From the earliest Chinese dynasties to the present, the jade deposits most used were not only those of Khotan in the Western Chinese province of Xinjiang but other parts of China as well, such as Lantian, Shaanxi.
Remember, words matter. Look at Gorgon Stare and Medusa. They don't randomly grab names out of a hat, or pick them because they think it sounds dystopian. They pick words for a reason.
July 7, 2017: The Warzone • There only appears to be one official news story on this exercise at all and it's available on the website of Air Mobility Command’s Eighteenth Air Force, situated at Joint Base Charleston. At the time of writing, a google shows that there were more than a half dozen more copies on other Air Force pages, as well as number of photographs. For some reason, someone appears to have taken these offline or otherwise broken all the links. Using Google to search the Defense Video Imagery Distribution System, which is the main U.S. military's public affairs hub, brings up more broken links. Oh, and unless there's been some sort of mistake, JADE HELM actually stands for the amazingly obtuse Joint Assistance for Deployment Execution Homeland Eradication of Local Militants. A separate web search for this phrase does not turn up any other results. Source Here
Now, using an acronym that indicates training to Eradicate Local Militants seems pretty dumb. It may be used in that manner if environmental collapse triggers riots, but i don't think they would warn everyone ahead of time, do you? So I dug a little bit more.
Joint Assistant for Development and Execution (JADE) is a U.S. military system used for planning the deployment of military forces in crisis situations. The U.S. military developed this automated planning software system in order to expedite the creation of the detailed planning needed to deploy military forces for a military operation. JADE uses Artificial Intelligence (AI) technology combining user input, a knowledge base of stored plans, and suggestions by the system to provide the ability to develop large-scale and complex plans in minimal time. JADE is a knowledge-based system that uses highly structured information that takes advantage of data hierarchies. An official 2016 document approved for public release titled Human Systems Roadmap Review describes plans to create autonomous weapon systems that analyze social media and make decisions, including the use of lethal force, with minimal human involvement. This type of system is referred to as a Lethal Autonomous Weapon System (LAWS). The name "JADE" comes from the jade green color seen on the island of Oahu in Hawaii where the U.S. Pacific Command (PACOM) is headquartered.
PACOM? Why isn't that command group responsible for the South China Sea?
Formerly known as United States Pacific Command (USPACOM) since its inception, the command was renamed to U.S. Indo-Pacific Command on 30 May 2018, in recognition of the greater emphasis on South Asia, especially India.
Now doesn't it look like Jade Helm is preparing for an invasion? And possibly insurrection later. Or at the same time? Or riots over WW3? Or food riots? And start thinking about why the laws are starting to exclude corporations? Then think about the mercenaries that are being contracted out by the government.
October 17, 2018: The Carolinan • In 2016, 75 percent of American forces were private contractors. In 2017, Erik Prince, former head of Blackwater, and Stephen Feinberg, head of Dyncorp, discussed plans for contractors completely taking over U.S. operations in Afghanistan. Although ultimately unsuccessful, it remains to be seen if the current administration will change its mind. Contractors are involved in almost every military task, such as intelligence analysis, logistics and training allied soldiers. Contractors are even involved in U.S. special ops missions. This is because contractors are essentially untraceable and unaccountable. Most are born in other countries; only 33 percent are registered U.S. citizens. Private military firms don’t have to report their actions to Congress, unlike the military or intelligence agencies. They also aren’t subject to the Freedom of Information Act, so private citizens and journalists aren’t allowed to access their internal documents. There are also no international laws to regulate private military firms. It’s been proven that many contractors are involved in illegal activities. The larger multinational companies sometimes hire local subcontractors. These contractors sometimes aren’t background-checked. A 2010 investigation by the Senate found that many subcontractors were linked to murders, kidnappings, bribery and anti-coalition activities. Some subcontractors even formed their own unlicensed mercenary groups after coalition forces leave. A 2010 House investigation showed evidence that the Department of Defense had hired local warlords for security services. In 2007, Blackwater contractors massacred 17 civilians. This eventually led Blackwater to being restructured and renamed as Academi. Source Here
Military Exercises. Private Defense Firms. No oversight. And it's all coming soon. Read more at Flatten the Curve. Part 20. Upcoming war and catastrophes. Source Here
Nah. I'm just fear mongering and Doomscrolling again.
Heads up and eyes open. Talk soon.
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Update and Few Thoughts, a (Well-Typed) transcript: Liza&Charles the marketeers, Voltaire kick-off, PrisM and Ebb-and-Flow to fuck ETH2.0 Gasper, the (back)log of a man and a falcon, lots of companies, September Goguen time, Basho, 2021 Titans, Basho, Hydra and much more thoughts and prayers

Hi everybody this is Charles Hoskinson broadcasting live from warm sunny Colorado. I'm trying a new streaming service and it allows me to annotate a few things and simulcast to both periscope and youtube. Let's see how this works. I also get to put a little caption. I think for the future, I'm just for a while going to put: "I will never give away ada". So, when people repost my videos for giveaway scams they at least have that. First off, a thank you, a community member named Daryl had decided to carve a log and give his artistic impression of my twitter profile picture of me and the falcon so that always means a lot when I get these gifts from fans and also I just wanted to, on the back of the Catalyst presentation, express my profound gratitude and excitement to the community.
You know it's really really cool to see how much progress has been made in such a short period of time. It was only yesterday when we were saying "when Shelley"? Now Shelley's out and it's evolving rapidly. Voltaire is now starting to evolve rapidly and we're real close to Goguen. At the end of this month we'll be able to talk around some of the realities of Goguen and some of the ideas we have and give some dates for certain things and give you a sense of where that project is at. The good news is that we have gained an enormous amount of progress and knowledge about what we need to do and how to get that done and basically people are just executing and it's a much smaller task than getting us to Shelley. With Byron to Shelley we literally had to build a completely new cryptocurrency from the ground up. We had to have new ledger rules, new update system, we had to invent a way of transitioning from one system to another system and there's hundreds of other little innovations along the way: new network stack and so forth. Byron cosmetically looks like Shelley but under the hood it's completely different and the Shelley design was built with a lot of the things that we needed for Goguen in mind. For example, we built Shelley with the idea of extended UTXO and we built Shelley understanding what the realities were for the smart contract model and that's one of the advantages you get when you do this type of bespoke engineering. There's two consequences to that, one, the integration is significantly easier, and two, the integration is significantly faster. We won't look at that same complexity there.
The product update at the end of the month... We'll really start discussing around some of these things as well as talk about partners and talk about how the development ecosystem is going to evolve. There are a lot of threads throughout all three organizations that are happening simultaneously. Emurgo, they're really thinking deeply about DeFi and they've invited us to collaborate with them on things like stablecoins for example but we're also looking at oracles (oracle pools), DEX and these other things and because there are already people in market who have made mistakes, learned lessons, it gives us the benefit of hindsight. It means we can be much faster to market and we can build much more competitive things in market and the Cardano community gets first access to these next generation DeFi applications without a lot of the problems of the prior generations and that's super beneficial to us.
You know, the other side of it, is that Voltaire is going to have a systemic influence not just on community funding but also the overall evolution and direction of the platform. The longer it exists the more pervasive it will become. Probably first applied towards the Cardano foundation roadmap but later on it will definitely have a lot of influence and say over every element aspect of the system including the launch dApps and these other things. Basically, long term, the types of problems that Cardano solves so that's incredibly appealing to me and very exciting to me because it's like I have this giant community brain with the best and brightest of all of you working with us to get us where we need to go.
You know, another thing that was super encouraging, it's a small thing, but it shows us that we're definitely in the right direction was that we recently got a demo from Pramod (Viswanath) and his team out of university of Illinois on a protocol they create called PrisM which is a super fast proof-of-work protocol and they wrote this beautiful paper and they wrote code along with it that showed that PrisM is a ten thousand times faster than Nakamoto consensus. If you take the bitcoin proof-of-work protocol, you strip it out, you put PrisM in, you can run the entire bitcoin system 10000 times faster. They have these beautiful benchmarks to show that. Even in bad network conditions. (I'm) promoting this team, they're, they're real researchers, and they're real engineers, they use a lot of cool HPC concepts like springboarding and other things like that to accommodate that. Then I asked him in the presentation, I said well, how much faster if you replay the Ethereum chain? He says, well, that it takes a big performance hit, could be only maybe a hundred times because that model is not as easy to optimize and shard with standard computer science concepts. In fact in some cases there are limitations there that really can't be overcome. It turns out that we're more on that UTXO side than we are on the account side. As a coincidence or intent of the design of extended UTXO we're gonna have a lot easier time getting much higher performance where and when it's necessary.
I also approved this week a scaling up of the Basho project. In particular, to build a hydra prototype team. The science has gotten to a point where we can make a really competitive push in that particular direction. What does that mean? It means that in just a few short months we can de-risk technological approaches that long-term will give us a lot of fruit where and when the community decides that they need infrastructure like hydra. Now, here's the beautiful thing about hydra. If you watch my whiteboard back in September of 2017 when Cardano first hit market with Byron I talked about this concept of looking at scalability with a very simple test which is as you get more people in the system it stays at the same performance or it gets faster. We all experience systems that do this, for example, bittorrent, more people downloading something you tend to be able to get it faster and we all experience the converse which is, the system gets slower when you get more people. What does this mean? It means that hydra is an actual approach towards true scalability in the system and it's a lot easier to do than sharding even though we have a beautiful approach to get the sharding on the ledger side if we truly desire to go down that way. There's beautiful ideas that we are definitely in deep discussions about. That's a very complex thing. There was recently a paper ("Ebb-and-Flow Protocols: A Resolution of the Availability-Finality Dilemma") out of Stanford that showed that the Gasper protocol as proposed for ETH2.0 does have some security concerns and it's going to be the burden on the shoulders of the Ethereum 2.0 developers and Vitalik to address those concerns from those Stanford professors. Whenever you have these very complex protocols they have so many different ways they can break and things can go wrong so it's much more appealing when you don't have to embrace complexity to achieve the same. The elegance of hydra is that stake pool operators are very natural parties to put hydra channels on and every time we add one we get much more performance out of that and the system as it gets more valuable. The k factor increases which means you get more stake pull operators, which means you get more hydra channels, so with growth we get appreciation, with appreciation we get more decentralization, with more decentralization we get more performance. In essence, this spiritually speaking, is really what we meant when we said scalability. That the system will always grow to meet its particular needs and we have a very elegant way of moving in that direction that doesn't require us to embrace very sophisticated techniques. It's not to say that these techniques don't have a place and purpose but it says that the urgency of implementing these is gone and we then have the luxury to pick the best science when it's ready instead of rushing it to market to resolve a crisis of high fees. We'll never have that crisis so there's a beauty to Cardano that is missing, I in my view, from many cryptocurrencies and blockchains in the marketplace and we're now seeing that beauty shine through. Not only through our community who are so passionate and amazing but in the science and the engineering itself and how easy it is for us to navigate the concepts. How easy it is for us to add more things, to take some things away, to clean some things up here and there and our ability to move through.
I never imagined when in 2015 I signed up to go in on this crazy ride and try to build a world financial operating system we would have made as much progress as we made today. We've written more than 75 research papers as an organization many of which are directly applicable to Cardano. We've got great partners who work with Nasa and Boeing and Pfizer, massive companies, that have 10 years of history and millions of users to come in and help us grow better. We've worked with incredible organizations, major universities like university of Wyoming, university of Edinburgh, Tokyo, tech professors all across the world. We've worked with incredible engineering firms like VacuumLabs and AtixLabs and Twig and Well-Typed, runtime verification, QuviQ and dozens of others along the years and despite the fact that at times there's been delays and friction throughout this entire journey we've mostly been aligned and we keep learning and growing. It gives me so much hope that our best days are ahead of us and an almost fanatical belief that success is inevitable in a certain respect. You see because we always find a way to be here tomorrow and we always find a way to make tomorrow a better day than today and as long as that's the trend you're monotonically increasing towards a better tomorrow, you're always going to have that outcome, you're always going to be in a position where Cardano shines bright. Towards the end of the month we'll have a lot more to say about the development side and that'll be a beginning just like Voltaire is the beginning and then suddenly you now notice the beautiful parallelism of the roadmap. Shelley continues to evolve, partial delegation is coming, in fact, I signed the contract with vacuumlabs to bring that to Ledger (and Trezor). The Daedalus team is hard at work to make that feature apparent for everyone as is the Yoroi team.
You see that, with now Voltaire, and soon was Goguen, and these are not endpoints, rather they're just beginnings and they're never over. We can always make staking better, more diverse, more merit-based and entertain different control models, have better delegation mechanics, have better user experience. The same for smart contracts, that's an endless river and along the way what we've discovered is it's easy for us to work with great minds and great people. For example with testing of smart contracts I would love to diversify that conversation above and beyond what we can come up with and bring in some firms who have done this for a long time to basically take that part with us shoulder to shoulder and build beautiful frameworks to assist us. For example, runtime verification is doing this with, the EVM with a beautiful project called Firefly to replace Truffle. I believe that we can achieve similar ends with Plutus smart contracts.
When you ask yourself what makes a system competitive in the cryptocurrency space? In my view there are four dimensions and you have to have a good story for all four of those dimensions. You need security and correctness. A lot of people don't prioritize that but when they get that wrong it hurts retail people, it hurts everyday people, billions of dollars have been lost due to the incompetence and ineptitude of junior developers making very bad mistakes and oftentimes those developers faced no consequences. The people who lost money were innocent people who believed in cryptocurrencies and wanted to be part of the movement but didn't protect themselves adequately. That's a really sad thing and it's unethical to continue pushing a model that that is the standard or the likely outcome rather than a rare edge case. You have to as a platform, a third generation platformn invest heavily in giving the developers proper tools to ensure security and correctness. We've seen a whole industry there's been great innovations out of Quantstamp and ConsenSys and dozens of other firms in the space including runtime verification who have really made major leaps in the last few years of trying to improve that story. What's unique to Cardano is that we based our foundations on languages that were designed right the first time and there's over 35 years of history for the approach that we're following in the Haskell side that allows us to build high assurance systems and our developers in the ecosystem to build high assurance systems. We didn't reinvent the wheel, we found the best wheel and we're giving it to you.
I think we're going to be dominant in that respect as we enter 2021. Second, you look at things like ease of maintenance, ease of deployment, the life cycle of the software upgrades to the software and as we've demonstrated with things like the hard fork combinator and the fact that Voltaire is not just a governance layer for ada and Cardano but will eventually be reusable for any dApp deployed on our system. You have very natural tooling that's going to allow people to upgrade their smart contracts, their dApps and enable governance for their users at an incredibly low cost and not have to reinvent the governance wheel each and every application. This is another unique property to our system and it can be reused for the dApps that you deploy on your system as I've mentioned before. Performance is a significant concern and this was often corrupted by marketers especially ICO marketers who really wanted to differentiate (and) say: "our protocol tested on a single server in someone's basement is 500000 transactions per second" and somehow that translates to real life performance and that's antithetical to anyone who's ever to study distributed systems and understands the reality of these systems and where they go and what they do and in terms of performance. I think we have the most logical approach. You know, we have 10 years of history with bitcoin, it's a massive system, we've learned a huge amount and there's a lot of papers written about, a lot of practical projects and bitcoin is about to step into the world of smart contracts. We congratulate them on getting Schnorr sigs in and the success of Taproot. That means entering 2021, 2022, we are going to start seeing legitimate dApps DeFi projects, real applications, instead of choosing Ethereum or Algorand, EOS, Cardano, choosing bitcoin and they're adding a lot to that conversation. I think that ultimately that model has a lot of promise which is why we built a better one. There are still significant limitations with what bitcoin can accomplish from settlement time to the verbosity of contracts that can be written.
The extended UTXO model was designed to be the fastest accounting and most charitable accounting model ever, on and off chain, and hydra was designed to allow you to flex between those two systems seamlessly. When you look at the foundations of where we're at and how we can extend this from domain specific languages, for domain experts, such as Marlowe to financial experts, and the DSLs that will come later, for others, like lawyers and supply chain experts in medical databases and so forth and how easy it is to write and deploy these. Plutus being beautiful glue code for both on and off chain communications. I think we have an incredibly competitive offering for performance and when hydra comes, simply put, there'll be no one faster. If we need to shard, we're going to do that and definitely better than anybody else because we know where our security model sits and there won't be surprise Stanford papers to blindside us that require immediate addressing.
In terms of operating costs, this is the last component, in my view, and that's basically how much does it cost you the developer to run your application? There are really two dimensions, one is predictability and the other is amount. It's not just good enough to say: it's a penny per transaction today. You need to know that after you spend millions of dollars and months or years of effort building something and deploying something that you're not going to wake up tomorrow and now it's five dollars to do what used to cost a penny. You need that cost to be as low as possible and as predictable as possible and again the way that we architectured our system and as we turn things on towards the end of this year and as we enter into the next year we believe we have a great approach to achieve low operating cost. One person asks why Cardano? Well because we have great security and correctness in the development experience and tools with 35 years of legacy that were built right the first time and don't put the burdens of mistakes on your customers. They ask why Cardano and we say: well the chain itself is going to give you great solutions with identity value transformation and governance itself and as a consequence when you talk about upgrading your applications having a relationship with your customers of your applications and you talk about the ease of maintenance of those applications. There's going to be a good story there and we have beautiful frameworks like Voltaire that allow that story to evolve and we keep adding partners and who have decades of experience to get us along. We won't stop until it's much better. They asked why Cardano? We said because at the moment we're 10 times faster today than Ethereum today and that's all we really need for this year and next year to be honest and in the future we can be as fast as we need to be because we're truly scalable. As the system gets more decentralized the system improves performance and where and when we need to shard we can do that. We'll have the luxury of time to do it right, the Cardano way, and when people ask why Cardano? Because the reality is, it's very cheap to do things on our platform and the way we're building things. That's going to continue being the case and we have the governance mechanisms to allow the community to readjust fees and parameters so that it can continue being affordable for users. Everything in the system will eventually be customizable and parameterizable: from block size, to transaction fees and the community will be in a good position to dynamically allocate these things where and when needed so that we can enjoy as an ecosystem predictability in our cost.
In the coming weeks and months, especially in my company, we're going to invest a lot of time and effort into comparison marketing and product marketing. When I see people say, oh well, you've launched proof of stake, a lot of other people have done. I don't think those people fully appreciate the magnitude of what we actually accomplished as an ecosystem and the quality of the protocols that are in distribution. That's not their fault, it's our fault, because we didn't take the time in simplistic terms, not scientific papers and deep code and formal specifications, but rather everyday language, to really show why we're different. I admit that that's a product failing and that needs to be corrected so we hired a great marketing director, named Liza (Horowitz?) and she is going to work full time with me and others in the ecosystem, a great team of people, every single day to get out there and explain what we have done is novel, unique, competitive and special to our industry. Everything from Ouroboros and contrast to major other protocols from the EOSes and Algorands and the Tezos of the world. Why we're different, trade-offs we chose over them, to our network stack, to the extended UTXO model, to Plutus, to Marlowe and we're going to keep hammering away at that until we get it right and everybody acknowledges and sees what has been accomplished.
I've spent five years of my life, good years of my life, and missed a lot to get this project where it needs to go. All of our employees have invested huge sums of their personal lives, their time, their brand, their careers, in trying to make this the really most magical and special cryptocurrency and blockchain infrastructure around. No one ever signed up in this company or the other companies working on Cardano to work on a mediocre protocol. That's just another blockchain, they signed up to change the world, they signed up to build a system that legitimately can look at you in the face and say: one day we have the potential to have a billion users! That's what they signed up for and they showed up to play. They built technology that evolves in that direction with some certainty and great foundations and we have an obligation to market in a way that can show the world why, succinctly, with clarity. Understandably, this has been a failing in the past but you know what? You can always be better tomorrow that monotonically increasing make it better and that's what we're going to do. We recognized it and we're going to invest in it and with Voltaire if we can't do it. You the community can do it and we'll work with you. If you can do a better job and the funding will be there to get that done. In addition to this, we think about 2021 and we ask where does the future take us? I've thought a lot about this you know I've thought a lot about how do we get the next five years as we close out 2020 and here's the reality: we're not going to leave as a company until we have smart contracts and multi-asset and Voltaire has evolved to a point where the community can comfortably make decisions about the future of the protocol and that the staking experience has solidified and it's stable.
I don't care if this costs me millions or tens of millions of dollars out of my own pocket to make happen. I'm going to do that because that's my commitment to you, the community and every product update will keep pushing our way there. We'll continue to get more transparent, we'll continue to get more aggressive and hire more and parallelize more. Aware when we can, to deliver that experience so that Cardano gets where it needs to go. Then when we ask about where do we go next? The reality is that the science as an industry, the engineering as an industry has given a menu of incredibly unique attractive and sexy things that we can pursue. What we're going to do is work with the community and the very same tools that are turning on today, the Voltaire tools, the cardano.ideascale.com tools and we're going to propose a consortium and we're going to bring the best and brightest together and give a vision of where we can take the system in another five years. With the benefit of hindsight, massively improved processes, better estimation capabilities and the fact that we're not starting with two people at IOG. We're starting with 250 people and the best scientific division in our industry and the legacy of almost, nearly by the end of this year, 100 scientific papers. That's us, you know what, there's dozens of companies throughout the history who have worked on Cardano. It's about time to scale them up too and get client diversity. So come next year when the protocol has evolved to the point where it's ready for it, we'll have that conversation with you the community and that's going to be a beautiful conversation. At the conclusion of it, there's going to be certainty of how we're going to evolve over the next five years to get ourselves beyond the cryptocurrency space. I'm very tired of these conversations we have about: are you going to go to (coindesk's) consensus or not? Or who's going to be the big winner? What about Libra or what about this particular regulation and this crypto unicorn and this thing?
You know I've been in the space a long time and I've noticed that people keep saying the same things year after year in the same venues. Yes, the crowd sizes get larger and the amount of value at risk gets larger but I haven't seen a lot of progress in the places where I feel it is absolutely necessary for this technology to be permanent in the developing world. We need to see economic identity. People often ask what is the mission for Cardano? For us IOG, you look at economic identity and you take a look at a roadmap. For it, you scale up and down, and each and every step along the way, from open data, to self-sovereign identity, to financial inclusion. You can keep going down: to decentralized lending, decentralized insurance, decentralized banking. Each and every step along the way to economic identity. When you admit a blockchain tells you that, there's a collection of applications and infrastructure that you need to build.
My life's work is to get to a point where we have the technology to do that. The infrastructure to do that, with principles, and so we'll keep evolving Cardano and we'll keep evolving the space as a whole and the science as a whole until I can wake up and say: each box and that road to economic identity, for all people not just one group, we have a solution for that. I'm going to put those applications on Cardano and success for me is not about us being king of the crypto hill and having a higher market cap than bitcoin or being entrepreneur of the year coindesk's most influential person. It's meaningless noise, success for me is reflecting back at the things that we have accomplished together and recognizing that millions if not billions now live in a system where they all matter, they all have a voice, they all have an equal footing. The Jeff Bezos of the world have the very same experience as the person born in Rwanda and we're not done until that's the case. It's a long road, it's a hard road, but you know what? We're making progress, we have great people in Africa, we have great people in eastern Europe, we have great people in southeast Asia and great partners all along the way. Great people, Latin America, great people in south America, great people here in the United States.
When we talk about economic identity there are millions, if not tens of millions of Americans who don't have it. Same for Canadians, hundreds of thousands, who don't have it. Developed western cultures, it's the greatest blind spot of policy and as we enter into a depression as a result of coronavirus, add millions if not tens of millions more onto that list. Generations are being disenfranchised by this legacy system and we as an ecosystem, we as an entire community are offering a different way forward. Not hyper centralizationn not social credit but a way forward where you own your own money, your own identity, your own data. You're not a victim of surveillance capitalism, you're not a victim of civil asset forfeiture. When you say the wrong things, you get shut out of society. Each and every human being matters and I'm optimistic to believe that when you remind people that they matter they're gonna rise to the occasion. That is the point of my company. In the things that we do each and every day, that's our mission to give the platforms to the world so that those who don't have economic identity can get it and they can keep it and no one can take it from them and they can enjoy an ever increasing growth of standard of living wealth and prosperity.
However you want to measure that this is my goal post, I couldn't care less about the cryptocurrency space. It was a great place to start but the space needs to be reminded why it exists. Bitcoin was given a mandate on the back of the 2008 financial crisis to do something different. It was not given a mandate to go be a new settlement layer for central banks or a new way for the old guard to make more money and banks get bigger and for those who are in control to preserve their power. The whole point of doing something so crazy as to buy a coin that doesn't even exist in real life, that's just a bunch of numbers in the cloud, the whole point of that was so that we as a society could do something different than the way that we'd been doing things before. So, each and every member of the cryptocurrency space needs to remind everyone else from time to time why we're here and where did we come from and where are we going to go.
The beauty of Cardano is we have already achieved for the most part a decentralized brain and that momentum is pushing harder than ever. More and more scientists are waking up, more and more institutions are waking up, getting us there. The code we have, the right approach and I think we have a great competitive offering for 2021 as we go and battle the titans and that's going to be a lot of fun but we know who we are and where we're going and we're in the right places. It's so incredibly encouraging to see the stake pool operators not just be from California or Texas or New York or Canada. To see a lot of stake pool operators from the place that need the most, help everybody does matter and it means a lot to me for the people who are there but it means a lot to everybody to say that we have created an equal platform. It makes the participation of all of us so much more meaningful. We're not just talking to each other, we're talking to the world and by working together on this platform we're lifting the world up and giving people hope. That's the point, there's a lot more to do, we didn't get everything done. You never do you aspire, you work hard, you set a moon, shot and sometimes you can just get to orbit with the first go but you know what? When you build the next rocket you can go to Mars.
Thank you all for being with me, thank you all for being part of this. Today was a damn good day with the announcement of Voltaire. Go to cardano.ideascale.com. You can participate in that, so end of September is going to be a good day too. There's a lot of good days to come, in between a lot of hard days, doing tasks sometimes entirely forgettable but always necessary to keep the revolution going and the movement going. I cannot wait for 2021, our best days are ahead of us, because of you. You all take care now .
Source: https://www.youtube.com/watch?v=BFa9zL_Dl_w
Other things mentioned:
https://cardano.ideascale.com/
https://www.atixlabs.com/blockchain
https://www.well-typed.com/
https://www.vacuumlabs.com/
https://medium.com/interdax/what-is-taproot-and-how-will-it-benefit-bitcoin-5c8944eed8da
https://medium.com/interdax/how-will-schnorr-signatures-benefit-bitcoin-b4482cf85d40
https://quantstamp.com/
https://bloxian.com/bloxian-platforms/ (TWIG)
https://runtimeverification.com/firefly/
https://www.trufflesuite.com/
https://experts.illinois.edu/en/publications/prism-deconstructing-the-blockchain-to-approach-physical-limits (PrisM and not our Prism https://atalaprism.io/)
Ebb-and-Flow Protocols: A Resolution of the Availability-Finality Dilemma (aka Gasper and ETH2.0 fucker) https://arxiv.org/abs/2009.04987
http://www.quviq.com/products/
https://en.wikipedia.org/wiki/Schnorr_signature
submitted by stake_pool to cardano [link] [comments]

White Swan came, Black Swan's a comin'

Like many here, I'm trying to come up with an investment thesis and a strategy for these uncertain times. I'm currently Bearish - have gone largely to cash, but want to invest in defensive plays because I see much more uncertainty ahead. So this long and rambling post is going to try to play with some ideas I've been having about the future. For the record, I've been investing for 8 years, was primarily an ETF buy and hold investor, and am Canadian, with a background in Political Science. ( I mean, I've got an undergraduate degree and a long-time interest, I'm no expert or nothing.)
I've read Nassim Taleb's Incerto series and have been mainly convinced, I think, and am surprised at the number of people who are calling this a Black Swan (BS) event; there's a post from today where a guy points out that it's not, and that Taleb himself says it's not and he got downvoted to hell. So first off: the Covid-19 pandemic was not a Black Swan. The Covid-19 pandemic, or one like it, has been predicted by damn near everybody for decades. The Obama administration even used a similar pandemic as a war game to get the Trump administration up to speed during the transition, Bill Gates called this years ago, we had a similar outbreak in SARS and H1N1, etc. Even if that wasn't the case, C19 would only be a BS for China - as a bunch of media sources have pointed out, there were US intelligence reports as far back as December saying this would be a huge deal, which were ignored by the administration. So all the suggestions that this is a BS event are really just pointing out how bad many governments, markets, and corporations are at predicting the future - they're unable to predict or prepare, or respond appropriately for a predictable event and only capable of reacting (with the exception of some countries like South Korea, Taiwan, Singapore, Germany...)
Now with the market rallying the bulls are all saying "it's priced in, you can't fight the Fed, etc," and I'm thinking:
1) The emperor has no clothes; the US government is clearly incompetent. It couldn't even listen to it's own experts about the likely extent of the pandemic, had no plan or even seemingly the ability to be at all proactive. For example, an aircraft carrier had a port call in Vietnam, during the middle of a pandemic that started in Asia. Then, completely predictably, it had an outbreak of C19 and it's capabilities were badly damaged and the administration couldn't even properly help it's own ship, nor manage the public relations fallout that resulted. I mean, do you have any idea how insane it is that that ship was allowed to dock during a pandemic? One of the most powerful military devices that ever existed got taken off line cause the administration couldn't understand it's own intelligence.
This incompetence isn't limited to the US of course - the UK handled their initial response badly and had to switch horses mid-race, Canada lagged badly responding as well, Italy and Spain mismanaged their response - but I'd argue that the US, given their advantages in intelligence collection, should have been best positioned to deal with this crisis so I focus on them.
2) Because of this, I think the odds of a real Black Swan event have gone up considerably, and if one does occur, it will occur when the US is historically divided and weakened and where it's economic system is out of ammunition to deal with a second crisis. I'll explain:
We have been living at at time when major geopolitical disruptions have been absent - while proxy wars and minor terrorist attacks still occur, there's been no wars between great powers for some time, and I think many have come to see this as natural; that the unipolar world will continue. But Russia is resurgent, China has a 50 year plan to grow its economy and eventually take a place as a hegemon, which may be entering end-game, and much of the Western international community has grown uncomfortable with US leadership, given the American tendency to elect incompetent Republicans. So we're likely entering an era of uncertainty and increased instability as the contenders vie for status in the new international order.
This doesn't mean war or open combat - it's become a cliche that the new wars of the 21st century are economic ones, and, given nuclear proliferation that's likely to continue. And I think we're more likely to see significant economic combat in the next 6 months than at almost any time during the last decade, because: 1) Trump is incompetent (and here I should stop just shitting on Republicans... the Dems have picked a 77 year old half senile fool to go up against him. I mean, looking at the two guys contending for the leadership of the most powerful country that has ever existed, it's hard to come away thinking that this is the sign of a healthy political system.)
2)America is weak (relatively speaking obviously, they're still the undisputed big swinging dick) and divided.
3)Because of C19 hits to economy, Trump may not be re-elected. I suspect that if it looked likely that he's re-elected, China at least would be content to sit quiet and wait for 4 more years of dumbasserry to take its toll on US hegemony - similarly with Russia. But if it looks like he'll lose come November, they'll take advantage.
What would that economic war look like? Lots of options that I see, and I'm curious if you guys see other ones. I mean, what would it look like if China dumped treasuries over the next 7 months? Or what would happen if China and Russia, or even OPEC+ decided to trade oil in non-US dollars? Or what if China leverages foreign aid to African and Asian countries hard-hit by C19 for long term trade deals designed to damage US interests? Iran and North Korea are additionally wild cards, and if either one is hard hit by C19 could go down flailing with unpredictable results. Any others I'm missing? Curious to hear other's ideas.
Now, note I'm not saying that odds of economic war with China or any other US adversary are likely; I'm saying if the odds of a geopolitical Black Swan were usually 5% in any given year of the last twenty, I suspect the odds of a major BS have gone up 4 or 5 fold - so like 20-30%. And I'm wondering, given unlimited QE, zero interest rates almost everywhere, central banks everywhere supporting stock and currency markets, etc -- what a defensive portfolio, preferably one that's still exposed to positive black swans like a sudden cure, would look like. Is it gold or silver? Cash? Bitcoin? I've already got enough guns and bullets and a bunker... just kidding about the bunker.
But seriously, I'm thinking something like 10-20% PMs and miners, 20% cash, 20% bonds and the rest equity ETFs of some countries likely to benefit from a stronger and more dominant China, like South Korea and Australia. Given Chinese dishonesty and the opacity of the financial system, investing directly in Chinese companies makes me nervous, though I've been considering a stake in BABA. Canada, it seems to me, is too joined at the hip with the USA to do anything other than follow where it goes.
Anyways, if you stuck with me through all that, thanks and I'd love to hear other's thoughts. I'm absolutely not a prepper nor prone to panic -- I just think we're living in real interesting times and the times are likely to get interestinger in the near future.
submitted by Davidallencoen to investing [link] [comments]

How is Blockchain technology improving The Future of Employees?

How is Blockchain technology improving The Future of Employees?
https://preview.redd.it/dywnns3j7ka51.jpg?width=2400&format=pjpg&auto=webp&s=dc23b675f0ffea160ff23d02e8f47151029b7342
Blockchain is a technology that has impacted every aspect of life, from being a technology that forms the framework for a Bitcoin transaction to become the part of mainstream tech support system, Blockchain has come a long way. The technology has been there for a long time now, and we have seen a growing demand for Blockchain professionals. In this blog, we are going to explore some of the conspicuous changes that Blockchain is going to bring for the employees.
Blockchain Impacting The Future Of Employees:
1. Better Job Prospects- One of the key change which Blockchain is going to bring forth is the increasing demand for Blockchain professional or the ones who have Blockchain certification. Gartner predicts Blockchain will create $3.1 trillion in business value by 2030. This indicates that the demand for Blockchain professionals is going to increase over some time. When we talk about Blockchain, then its application is not limited to just one industry. Instead, you can find its use cases across different sectors like accounting, finance, HR, education, medical and healthcare, etc. This universal application indicates the need for Blockchain professionals who can leverage the Blockchain platform for integration with different business operations.
2. Better Pay- Any individual who picks up Blockchain as their career option is undoubtedly willing to get excellent compensation. And the fact is that the average salary of Blockchain professionals is higher than a software engineer. As per ZipRecruiter, the average wage of Blockchain developers in the US is $157,893. Glassdoor mentions that the salary of Blockchain developers is £50,278 annually. This clearly shows that Blockchain opens up an excellent opportunity for people.
3. Work As You like if you are willing to become a Blockchain professional, then there are some unconventional career options like Blockchain consultants, content writer, professor etc. You are not required to work full-time; rather, you can work as a freelancer. The good thing is that Blockchain is going to increase its penetration across different segments, and hence, there are going to be a plethora of options out there.
4. Job Security- One of the biggest concern for any employee is growth and job security. To make it happen, many employees opt for upskilling and acquainting themselves with new skills that are going to help them grow. Here choosing the right skill is paramount. Blockchain is the new vibe that is hitting every business, and companies now want employees who are adept with knowledge about this technology. Hence, it is a guarantee that with Blockchain certification and training, employees have a great future.
All these factors make Blockchain technology of the future which is going to benefit the companies alike. To learn about Blockchain, you can opt for Blockchain certification. Platforms like Blockchain Council offer different types of certification programs like certified Blockchain professionals, certified Blockchain developer, certified Hyperledger expert, certified Corda expert and many other certification programs are provided under the ambit of Blockchain Council. If you also want to become a Blockchain professional with excellent career growth, then you must connect with Blockchain Council today.
submitted by Blockchain_org to BlockchainStartups [link] [comments]

Congressional activity: week of 7/29 to 8/2

Good Sunday, and welcome to this (late) installment of Congressional activity and financial markets. The general idea is that the statements and actions of federal legislators can have an effect on broader markets. I try to provide interesting happenings as well as participants. I don't suggest any specific positions: I'd like those to come from consensus in the discussion.
A few things to keep in mind:
Results from last week:
Shared activity (across both chambers):
None, explicitly. The House has gone on one of its many annual six-week vacations (https://thehill.com/homenews/house/454817-house-leaves-for-six-week-august-recess), which makes this post shorter than usual. But the main thing the House did was pass a budget bill (https://abcnews.go.com/Politics/house-passes-trumps-bipartisan-deal-lift-budget-spending/story?id=64573914) before leaving. The bill does a number of things: it ends sequestration, which was the mandatory cutting of certain discretionary spending if budget deadlines were not met. More importantly, it suspends the debt ceiling for two years (until after the 2020 presidential election), which takes the pressure of another shutdown off the table (remember when that happened?) and punts until the next election. The Senate should pick it up sometime this week---again, it's basically impossible to predict when---which should ease fiscal pressure (except the debt) for the foreseeable future.
House activity:
The House is in recess until early September. Of course, they can call themselves out of recess any time they like. But this is rare.
Senate activity:
The Senate is expected to vote some time on the bipartisan budget bill outlined above.
The Senate is expected to hold a veto-override vote on S J Res 36, S J Res 37, and S J Res 38, which are variants of Congressional prohibitions on arms sales to other countries, particularly Saudi Arabia. The president's veto messages on each outlined the security interest in placating Saudi Arabia (https://www.imperialvalleynews.com/index.php/8-news/18994-s-j-res-36-s-j-res-37-s-j-res-38-veto-messages.html). The interesting thing will be how many Republicans, especially in the Senate, vote to override the veto. For instance, the original vote on S J Res 36 was 53-45, with zero Democrats voting against (https://www.congress.gov/bill/116th-congress/senate-joint-resolution/36/all-actions?overview=closed&q=%7B%22roll-call-vote%22%3A%22all%22%7D). Lindsay Graham was one of the Republicans to vote for the resolution, which is unexpected.
The reason this matters is it will serve as a thermometer for further action against the president in ... other areas ... in the Senate. Impeachment, as you all know, is a two-step process. The House can bring articles of impeachment all on its own with a majority. In the past, bringing these articles has exerted a ton of political pressure, especially on presidents (which is why Nixon resigned). But in the present, those articles would go to the Senate, who would then have to actually try the articles in a sort of trial, with the Chief Justice presiding. The Senate is controlled by Republicans, and Mitch McConnell has said repeatedly that impeachment articles would be dead-on-arrival (https://thehill.com/homenews/senate/445512-senate-gop-pledges-to-quickly-quash-any-trump-impeachment-charges). For impeachment to be successful in the Senate, it would require a <2/3> majority, or a lot of Republicans voting against the president. Overriding any of S J Res 36, 37, or 38 would also require a 2/3 majority, and the similar yardsticks are why people will be paying some attention.
The Senate will hold full committee hearings on 7/30 on regulatory frameworks for blockchain technologies (https://www.banking.senate.gov/hearings/examining-regulatory-frameworks-for-digital-currencies-and-blockchain). In theory, if you had cryptocurrency holdings, this might affect those holdings directly. But Senators are simple-minded folk, and they for sure don't understand the implications of cryptocurrency. Instead, I'm guessing that most of them will rail on Facebook and corporations, and you'll hear the names Bitcoin and Libra way more than anything else.
The Senate will hold full committee hearings on 7/30 on the USMCA (https://www.finance.senate.gov/hearings/the-united-states-mexico-canada-agreement). The witness list is all over: dairy farmers, jewelry makers, automotive trade reps. My guess is that completing the deal would be good.
The Senate will hold full committee hearings on 7/31 on positive train control (https://www.commerce.senate.gov/public/index.cfm/hearings?ID=4D197EB1-ADA7-402A-8F12-A87FF4B1682F https://en.wikipedia.org/wiki/Positive_train_control). Look: not much is going on in Congress this week. But positive train control includes a bunch of regulations on trains taking turns and crew sleep and a bunch of other safety stuff (https://en.wikipedia.org/wiki/Positive_train_control). The sole interesting thing is that PTC is expected to cost between $6-$20 billion, with most of the cost borne by train operators. If the (Republican, anti-regulatory) Senate guides toward easing the regulatory burden, it could lift a crosswind on the industry.
submitted by NonExpert_NotAdvice to wallstreetbets [link] [comments]

Black Swans and Cryptocurrency

Introduction

I recently re-read the notes that I took on the book The Black Swan by Nassim Taleb, which can be found here. When I first read The Black Swan, it completely changed my viewpoint on how systems work and function. Rereading my notes, I immediately realized that many of the principles from The Black Swan could be applied to the space of cryptocurrency today. In this post, I will use ideas from The Black Swan to analyze cryptocurrencies as a whole and hopefully allow you, the readers, to gain some more insight into systems not only behind cryptocurrency but also in systems in general.
Please note that in this article, when I use the word cryptocurrency I am also including blockchain technology within that definition.

Our Illusion of Understanding

As humans, we suffer from various mental biases that cause us to believe things that are not in fact true, especially when it comes to looking back at history. These three mental biases are:
  1. The illusion of understanding, or how everyone thinks he knows what is going on in a world that is more complicated (or random) than they realize
  2. The retrospective distortion, or how we can assess matters only after the fact, as if they were in a rearview mirror
  3. The overvaluation of factual information and the handicap of authoritative and learned people
I believe that points one and two are the most salient for this discussion when it comes to cryptocurrency. The first point applies to when we believe we understand how the world works when in reality we do not. I find this especially prevalent when I attempt to explain to others how Bitcoin and other cryptocurrencies work to other family-members and friends. To them, they believe digital currencies cannot have any value because it is artificial. They believe they understand how money works, when in reality they suffer from the illusion of understanding.
That's not to say that those that understand the value of cryptocurrencies don't also suffer from this mental bias. I am sure that I too have only an illusory understanding of cryptocurrency, and that in 10/20 years cryptocurrencies will be able to accomplish things that I had never even thought of before. Take Amazon, as an example, which when it started out only sold books. Now you can buy practically anything on Amazon with the mere click of a button. It would've been difficult in the late 90's to predict that Amazon would go that route, and yet here we are. The same principle applies to cryptocurrency as well.
The second point, regarding retrospective distortion, is also important because that's what gives us the "I knew it all along" attitude. Nassim Taleb explains retrospective distortion by stating "Much of what took place would have been deemed completely crazy with respect to the past. Yet it did not seem that crazy after the events." I believe that this will be the case for cryptocurrency as well. In 10/20 years, the same people who dismissed or did not understand cryptocurrencies will see it as an inevitability which was bound to happen. Of course, when it comes to cryptocurrency the growth and adoption will become exponential. As Taleb states -- "History and societies do not crawl. They jump". I truly believe cryptocurrency will be that next jump in our society.

The Turkey Fallacy

I believe that the Turkey Fallacy is the perfect example of our illusory understanding of the world. Here is the story behind the fallacy:
A turkey is selected by a family to be the turkey for Thanksgiving. In order to prepare the turkey for the feast, the family begins to give the turkey extra food months before Thanksgiving to make it extra plump. Now, in the turkey's view, he has it pretty good. He is consistently being fed more and more food. In fact, if the turkey assumes this will continue forever he'll have a pretty good life. Finally, on the day of Thanksgiving, the family takes the turkey and kills it immediately to feast on it.
The Turkey Fallacy is essentially this: Things work until they don't. What we learn from the past turns out to be either irrelevant or completely false, and at worst looking at the past as an example of the future can be incredibly misleading. This was no doubt the case with the turkey, and this will also be the case with cryptocurrency as well. A cryptocurrency in the top 20 marketcap, for example, may have a fatal security flaw and suddenly it becomes worthless. The best way to prevent this type of event from affecting you is by diversifying your cryptocurrency portfolio.
That unexpected event is what Taleb calls a black swan, and it comes from the fact that explorers in the 14th century believed all swans were white. One day, however, they came upon a black swan and that worldview was shattered.
Black swans can be both positive and negative, but a key point to remember is that positive black swans take time to show their effect while negative black swans can happen very rapidly. This can no doubt be seen with cryptocurrencies as well. Negative black swans, such as The DAO hack, happened very rapidly and caused the price of Ethereum to crater very quickly. Meanwhile positive black swans, such as applications that can be built on Ethereum, will generally take much longer to show their effects because it takes time for those positive events to occur.

Confirming our Worldview

The major reason that people do not become aware of black swans is because people more often than not wish to confirm what they already believe, instead of what the truth actually is. If you look hard enough, it is easy to find sources that confirm what you believe to be true.
Unfortunately, this is the wrong way to view things. You should look at the evidence and then reach a hypothesis, instead of the other way around. As soon as you formulate a hypothesis, you should immediately try to find evidence to the contrary of your hypothesis to test it. Ask yourself, "what evidence would prove me wrong?" If you find evidence that goes against the validity of your hypothesis, then readjust your hypothesis. This type of thinking allows you to formulate well-structured, thorough hypotheses on things. This is especially important when it comes to cryptocurrency, as the field tends to learn towards complex hypotheses as opposed to simple ones. The world lends itself more to shades of grey as opposed to simple black-and-white viewpoints, which usually only serve as naive simplifications of complex issues.

Why we can't predict black swans

A key component of black swans is that they are highly asymmetrical in terms of consequences. If you look at Bitcoin, for example, you will see what I mean. The rise in value of one Bitcoin in the past 7 years was massive and, even for people who understood what Bitcoin was capable of, would be nearly impossible to predict. Other black swans, such as the DAO hack, caused an extremely negative outlook for Ethereum and cryptocurrency as a whole.
One can see why it would be useful to be able to predict a black swan -- after all, if we can see it coming then we can avoid its effects entirely. Unfortunately, predicting black swans is nearly impossible. Why? Because we have an innate bias to think we know more than we actually do. This is also known as epistemic arrogance, which is hubris concerning the limits of our own knowledge.
The issue, too, is that people may acknowledge this fact but believe that experts in a field are somehow more capable of predicting these types of things than normal people. In fact, the more we view ourselves as an "expert" in a field the more our estimations become inaccurate in other fields: Janitors and cabdrivers were able to make more significantly accurate predictions in random facts like the height of a building than Harvard MBAs.
Studies have shown that people who professionally make forecasts are especially prone to this type of mental bias. Public price predictions of Bitcoin that predict the price will reach $100,000 in 10 years or even $1 billion are more based on making sensational headlines and news stories than being based in reality. People who publicly state price predictions are usually incentivized to make outlandish claims because:
  1. It makes for a good headline
  2. It gives them the "knew it all along" if they turn out to be right. These people will be heralded as geniuses or market "wizards"
  3. If they're wrong, they can simply deflect questioning. Most likely, the price prediction will be forgotten quickly anyway.
When you perform incorrect predictions, you usually deflect in three ways:
  1. You tell yourself that you were playing a different game entirely.
  2. You invoke the outlier. i.e. "that event was one in a million so there was no way to predict it!"
  3. You use the "almost right" defense: You focus on the parts you got right, not the ones you got wrong.
It's also important to remember that sophisticated or complex methods of predicting events does not necessarily lead to more accurate forecasts than simpler methods.

Tools and Toys

The most important advances we have in society are also the least predictable. Bitcoin is a clear example of this. Almost all advances in society are the direct result of a tool that was built. These tools can lead to unexpected effects and outcomes, which themselves can lead to even more unexpected outcomes. Whatever tools lead to, they rarely are used exactly for what they were first intended for. Facebook was originally exclusively for Harvard students. Taking a more outlandish example, Play-Doh was originally created because Kroger wanted a product that could clean coal residue from wallpaper.
"We build toys. Some of those toys change the world".
The best way to get maximal exposure to positive black swans is to continue researching and gathering potential opportunities. It is important, however, that we do not use the past too often as a reference for what the future will be. Too often, when we think of tomorrow we project it as just another yesterday. As the common saying goes, "Past performance is not indicative of future results." Even if the past were somehow an indication of what is to come, we do not truly know much about the past either.
It's also important to distinguish between chaotic and random systems. Random systems are completely random and do not have any predictable properties. Chaotic systems, on the other hand, have predictable properties but are difficult to understand and know. Lottery numbers are random, the price of a cryptocurrency is chaotic. Being able to tell the difference between the two is key in discovering areas where you can find black swans.

How to maximize the effect of (positive) black swans

Now that you understand what black swans are and how difficult they are to detect, what can you do in order to increase the likelihood that you effected by a black swan? You must maximize your serendipity. Serendipity is defined as "the occurrence and development of events by chance in a happy or beneficial way". To maximize your serendipity, you must find instances where there are highly asymmetrical positive payouts (e.g. Bitcoin, other altcoins, etc.) and increase your exposure to these instances as much as possible.
When exposing yourself to these highly asymmetrical opportunities, you must do it in a number of different fields or areas in order to diversify serendipity while limiting your downside but maximizing your upside potential. Let's use another field besides cryptocurrency as an example of this: venture capital. Let's say that a venture capitalist invests $25k into 10 various startups one year after their founding, all of which could potentially have positive black swans. Let's say that 8/10 of those companies experience negative black swans and those go bankrupt. Out of the two companies that's left, one of them happens to break even and you make your money back but that's it. Unfortunately, you're still $200k down. But what about the last company? What if that last company you invested in were Uber, or Facebook? Suddenly that $25k could potentially be worth hundreds of millions of dollars, more than making up for your other losses. The same principle applies with investing in cryptocurrency: You probably won't be able to pick exactly the next big winner, but you could probably diversify among 10 different coins that could have positive black swans in the future.
It is usually futile to exactly predict black swans, as usually what occurs is reading the signal as the noise and over-interpreting data. Instead, it is recommended that you instead spend your time looking for areas where there is a strong possibility a positive black swan could exist, even if you don't know exactly what it is yet. Seize anything that looks like an opportunity, because they are much, much rarer than you think. Remember that to feel the effects of positive black swans, you must be exposed to them first.
Lastly, remember that usually there will be periods of calm and stability punctuated with massive change (for better or for worse) concentrated from a small number of black swans. Those black swans are the ones to look out for, and the ones you least expect.
submitted by domecraft1 to CryptoCurrency [link] [comments]

USDQ GOOD PROJECT


What are Stable Coins? USDT, TUSD, GUSD, USDC and USDQ

In this article, Slava Mikhalkin talks about USDQ, a fully algorithmic stablecoin that offers reliability and easy collateralization for Bitcoin. Working as a Blockchain Architect with PLATINUM ENGINEERING, Slava collaborates within the +200-employee team to develop bleeding edge solutions in white-label wallets, STOs and IEOs fundraising platforms, and full-cycle business models for crypto projects. A key value proposition, brought by PLATINUM ENGINEERING, is a holistic approach, where a versatile talent pool helps startups build up capabilities in IT, marketing and legal. A unique decentralized stablecoin USDQ features various price stabilization algorithms, an intricate system of incentives for traders and AI-driven predictive analytics module. This novel stablecoin is worth noting while it’s still gathering steam.
Foreword
It's clear that cryptocurrencies are gradually making inroads into the global economy, moving closer to mass adoption. Cryptocurrencies offer a number of advantages - decentralization and trust, lower commissions and disintermediation - that make it easier for users to carry out their daily transactions. Anybody can transfer value around the globe, winning from fast processing time.
In comparison, sending value across borders via legacy financial systems requires lengthy waiting periods and fees, while also making users stuck into highly complex processes. For instance, if a person from Japan wants to send some money to England, the fees can range anywhere from 5% up to 10%, depending on the system being used. In addition, there will be some currency conversion fees. It seems that centralized players, currently enjoying lack of competition, set up fees and commissions just as they wish.
And it's merchants that carry out cross-border transactions that find working with legacy finance institutions most troublesome. They keep losing hefty chunks from their potential profits, just paying out fees to payment processors. This makes businesses hike up their prices, passing these expenses to ordinary consumers. Crypto offers a paradigm shift change, bringing to the table lightning speeds and lower fees. Although cryptocurrencies have been winning more and more attention from merchants worldwide, there's still a number of roadblocks to wider adoption, among which are price volatility, scalability limitations and others.
Volatility is admittedly the biggest hurdle that prevents businesses from using cryptocurrencies more. Bitcoin can experience huge fluctuations in just a matter of hours or even minutes. In addition, major coins like Bitcoin and Ethereum present scalability issues, which results in high processing time. A merchant, who has to handle hundreds of payments on a daily basis, would not be able to conduct their business efficiently if transactions get stuck for days on end. On top of that, it's extremely hard for adopters to convert cryptocurrencies into fiat via the banks and other financial agents they usually work with.
Cryptocurrencies seek to offer solutions to all of these issues.
What is stablecoin?
A stablecoin is a cryptocurrency, whose architecture enables its price to always equal the price of another asset. Most of the stablecoins are pegged to USD. The biggest names in cryptocurrencies are Tether, Gemini Dollar, USDQ, TUSD and others.
How do stablecoins manage to be so stable?
As opposed to other coins that float freely, stable cryptocurrencies require that each unit is backed with a unit of the fiat currency. For instance, Tether (USDT) pegs 1 USDT to 1 USD on the one-to-one basis. In this way, stablecoins are somewhere between cryptocurrencies and regular fiats. Tether is based on its own blockchain that is built on top of Bitcoin, Litecoin and Ethereum systems.
Although Tether is the biggest stablecoin, there's a number of concerns as to its operations. The biggest one is the continuing controversy as to the fiat reserves, which the issuer is supposed to store on the one-to-one ratio to the number of issued Tether units. The company has been saying that the audit will be done in the near future, but just several weeks ago it started to claim that it's not only the cash, but also loans to other companies that can be recorded as fiat reserves. These statements resulted in growing distrust among crypto enthusiasts.
Another project is TrueUSD (TUSD). It also pegs to USD. The difference with Tether is the openness to audits and transparency. The company is open to third-party audits, it publishes the duly verified reports on the fiat reserves it holds. In addition, users enjoy legal protections.
USDC is another stablecoin that was created by the famous cryptocurrency exchange Circle. Just as TUSD, if offers regulatory compliance and transparency. The big problem about all these systems is the fact that they enable authorities to seize users’ funds, which completely negates the very idea of decentralization and anti-censorship, on which crypto is built.
USDQ is different from other stablecoins as it's not backed by the fiat currency, but by Bitcoin and other top-10 cryptocurrencies in the future. This enables the ecosystem to avoid dealing with legacy financial systems. Through the overcollateralization process, USDQ turns highly volatile cryptocurrencies into the USD-pegged USDQ that is perfect for storing value and processing transactions in the external economy without any risk of price changes. The coin is being developed by PLATINUM ENGINEERING with the small community slowly growing around the project.
Why do we need stablecoins?
Stablecoins have advanced as a new iteration on cryptocurrencies, enabling to address such issues as high volatility and interactions with legacy financial systems.
Coins like USDQ make sure that various mechanisms are used in order to stabilize the prices at the USD peg. Traders can easily change their Bitcoins into USDQ and thus prevent the negative impact on unwanted prices changes. Stablecoins are very easy to use, which is a boon for non-techy adopters. Any person from around the world can quickly convert fiats into stablecoins, without any need to think about future price changes and without worrying about potential risks for losing their funds. As a rule, you'll always find various stablecoins on crypto exchanges, enabling traders to quickly move around stables and other cryptos.
As we've spoken above, cross-border payments win most from using the stablecoins. This hybrid species between fiat and crypto will help open up the hidden value in global trade, amounting to trillions of dollars in profits for stakeholders.
USDQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First run in line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for high-endurance stablecoins. Fully anonymous, USDQ breaks limits out of this legacy world.
PLATINUM ENGINEERING openly shares about its development and vectors for growth, enabling stakeholders to learn about cutting-edge solutions in the blockchains/crypto domain. PLATINUM ENGINEERING has already helped over 150 crypto projects to grow through emerging blockchain economy of the future. Businesses would be amazed at new capabilities they can obtain through tokenizing their business models, automating routine business processes and drawing investors on crypto markets. The team welcomes the community to contact directly via the official groups in Telegram, Facebook or LinkedIn. Readers will learn how to obtain new competitive advantages by tapping into blockchain in their blog.
What is Q DAO and USDQ StableCoin? Fully Explained.
In this article, Slava Mikhalkin shares his opinion about USDQ, a unique fully decentralized stablecoin for easy Bitcoin collateralization. Serving as a Blockchain Architect at PLATINUM ENGINEERING, he’s helped deploy dozens of DLT-based success stories. Leveraging +15Y developer track record, he empowers USDQ with high-usability UI and robust back-end. Smart contracts the team develops quickly turn into industry best practices. He's certain that blockchain will disrupt finance as we know it. He goes raw on USDQ's inner working, telling it all.
Look into real-life use cases for Q DAO
Introduction
Cryptocurrency markets have been famous for huge volatility. This quality of crypto helps speculators earn enormous profits. This high volatility drew attention to Bitcoin in December 2017 when the price rocketed up to $20,000. Subsequently, the price plummeted. And up to this day, no other cryptocurrency has managed to repeat this feat. Some adopters don't need speculation and only want to use crypto to execute transactions, but scalability issues mean that execution might lag and prices might slip. As a result, either of the parties will inevitably incur a loss. USDQ has been created to address this very issue.
What are the problems that volatility creates?
  1. Cryptomarkets are moving toward creating the second financial system, featuring all those capabilities that the legacy finance institutions enable. Among these, lending is of particular importance. And lending doesn't win from volatility but only loses, because it's either lenders or borrowers that will lose from a change in prices for a crypto asset, which is used to execute the lending contract. Consequently, creating a stable crypto asset has become a top priority for the community with many experts believing that without it no adoption will occur.
  2. For another group of users, volatility is how they make money. It's traders. But even traders sometimes look for assets to cover against undesired prices moves. The only option they have is to transfer value into a more stable asset. Fiat is the first choice that comes to mind, but the big disadvantage of fiat is lengthy processing process, KYC/AML and fees. The crypto asset that simultaneously behaves just as fiat does and offers all the perks that cryptocurrencies do will always in favor among crypto traders.
All about Q DAO token
Seeing all these needs in the market, Q DAO was created in order to act as an internal governance token within the ecosystem, which helps to govern USDQ, a USD-pegged stablecoin. All future projects within the ecosystem will be carried out with the use of this internal token, bringing wide utilization of Q DAO and a driver behind the strong growth potential. As of now, it’s only Bitcoin that users can use as a collateral, but there are plans to expand to other top 10 crypto assets as well. Importantly, the ecosystem doesn’t use national fiat currencies, thus eliminating any need to engage the legacy financial system.
Naturally, the more successful the ecosystem projects are, the more rationale there'll be for Q DAO to grow in price. And USDQ has already proven that the crypto industry has evaluated the system's use at a high level. The coin’s value is pegged to USD, so 1 USDQ = 1 USD
What's the purpose of Q DAO token?
Q DAO is used in several ways throughout the USDQ ecosystem. The first of them is paying fees, payable by users who wish to exchange back from the stablecoin into Bitcoin or other cryptocurrencies which were locked as a collateral. Whenever the fees are paid, Q DAO is burned, which results in supply reduction and growing prices.
The second way for Q DAO to bring value is enabling participation in the ecosystem governance. All holders of Q DAO token are entitled to participating in votes on proposals regarding to potential changes within the system. Since holders will win from continued success and expansion of the system, they are incentivized to thoroughly review the proposals and vote only for the most promising ones.
What's the fair value for Q DAO? Is it underpriced or overpriced?
The fair market value for Q DAO is indirectly correlated to the prices for USDQ. As long as the use of USDQ continues to grow, so will the prices for Q DAO. Accounting for the fact that USDQ is one of the pioneering stablecoins that will enable easier and more effective crypto lending, there are currently enormous opportunities for growth. In the years to come, combined with benefits from fast processing and lowered fees, Q DAO might garner global popularity as an instrumental component for lending, transacting and funding transactions, all automated and transparent through the use of smart contracts.
USDQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First, run in the line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for high-endurance stablecoins. Fully anonymous, USDQ breaks limits out of this legacy world.
PLATINUM ENGINEERING openly shares about its development and vectors for growth, enabling stakeholders to learn about cutting-edge solutions in the blockchains/crypto domain. PLATINUM ENGINEERING has already helped over 150 crypto projects to grow through emerging blockchain economy of the future. Businesses would be amazed at new capabilities they can obtain through tokenizing their business models, automating routine business processes and drawing investors on crypto markets. The team welcomes the community to contact directly via the official groups in Telegram, Facebook or LinkedIn. Readers will learn how to obtain new competitive advantages by tapping into blockchain in their blog.
This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins. This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates.

What Is USDQ and Q DAO? Complete Guide from PLATINUM ENGINEERING
Mihaill Kudryashev, a Front-end engineer at PLATINUM ENGINEERING, wrote this article while seeking to raise awareness about USDQ, a stablecoin his team is helping to develop. Among the biggest benefits, USDQ brings full decentralization and predictive capabilities. Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ under Q DAO governance. Slowly learning more about blockchains, Mihail has been effective in transforming vague ideas into effective front-end solutions with strong UI/UX. Within his team, he’s helped many crypto startups to make their voice heard throughout the emerging global crypto community. In this article, Mihail looks into the key benefits that users win from using USDQ.
USDQ brings stability, with no need to engage legacy finance
How do USDQ and Q DAO coins work within the ecosystem?
USDQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. It's backed by Bitcoin (another top 10 cryptocurrencies will be added in future). The elegant system places all transactions on the blockchain and empower users to execute cross-border and disintermediated transactions at any time and from any place. It's pegged to the value of USD, i.e. 1 USDQ always equals 1 USD. The ecosystem's design borrows heavily from fractional banking systems. In the nutshell, USDQ is a customer-facing stablecoin and Q DAO is an internal "operational" coin; together they help create a stabilized safe haven for anybody who's looking to hedge against rampant volatility of crypto markets.
Introduction to Q DAO and USDQ
There's a number of factors that prevent mass adoption of cryptocurrencies. The biggest factor among this is high volatility, seen in crypto. Bitcoin, the oldest and most popular coin, has been fluctuating with prices oscillating between 20,000 and 3,500 in just one year of 2018. No potential adopters, be it merchants or individuals, would be happy with suffering huge losses that such drastic changes can entail. And it's this high volatility that USDQ is set to address, bringing stability and convenience.
Tether (USDT) is probably the most well-known and widely used stablecoin. However, it has been embroiled in various controversies from the very start with no end to these in sight. Although the system is supposed to assure the 1-to-1 fiat reserves for all Tether units created, the website content has been recently changed to say that the issuer views not only cash in the bank, but also various loans to other companies, as the reserves. Both regulators and crypto enthusiasts have voiced concerns, which might bode ill for Tether in the months to come.
USDQ works differently. Here, the stablecoin is pegged to US Dollar and backed by Bitcoin (+top 10 other cryptocurrencies in future). It's similar to lending operations and fractional banking systems. Overcollateralization is used to mitigate potential unexpected changes in assets prices.
The USDQ ecosystem is highly transparent as all of the operations are recorded on the immutable Ethereum blockchain, open to review by anybody and at any time. The smart contracts bring automation to business processes and eliminate the need for middlemen to assure trust and prevent abuse.
In order to determine how viable USDQ will be in the future, we need to discuss the two tokens used within the ecosystem.
Review of Q DAO and USDQ
Q DAO is governance token, entitles holders to participate in voting for new decisions. Importantly, holders are interested seeing Q DAO's prices growing and thus they are incentivized to thoroughly review proposals and deliver the best decisions. In this way, Q DAO imbues higher democracy and decentralization, on which many current crypto projects lag.
In addition, all the fees, charged for the system use, can be paid only in Q DAO.
In order to create USDQ, a user needs to transfer Bitcoins into a Collateralized Debt Contract (CDC). This will automatically trigger the smart contract to generate USDQ and send it to the user. In order to change USDQ back into crypto assets, users need to pay back the amount of USDQ they input and the fees, chargeable in Q DAO Tokens. Whenever this is done, USDQ is automatically destroyed and the Collateralized Debt Сontract is closed.
In addition by getting USDQ directly at the company's website, users can trade in USDQ on secondary markets. It's as easy as trading Bitcoin or Ethereum or any other coin.
Traders can store both coins in their wallets, assuring higher security. The stability and ease of use for USDQ open up wide ranges of adoption for both businesses and end consumers alike.
What makes USDQ stand apart
The main difference between projects like Tether and USDQ is complete transparency and openness in the inner workings of USDQ. All the data is easily accessible on the blockchain and there are no rumors or controversies as to the reserves held by the team, potential conflicts of interest or hidden agendas.
The CDС mechanics ensure that it's impossible to create fake units of USDQ, as smart contract can be activated only after an amount in Bitcoins is input. The development is being done completely transparent. Interested parties can review the smart contract, presented on the website. The audits and peer reviews were carried out to assure the highest quality of smart contract. The website-based scanner enables to track all the data about each and every transaction, including time, amount and collateral size.
In addition, should a "black swan" event occur, i.e. a drastic fall in Bitcoin prices, Q DAO is sold on secondary markets. Bitcoin value is liquidated to make a USDQ buyback procedure, which prevents any losses on the part of the system's users.
Additionally, PLATINUM BLOCKCHAIN ENGINEERING which is helping to develop the ecosystem is working hard to build up long-term partnerships with stakeholders in the crypto industry. The more liaisons the team wins, the better outlook for USDQ will be.
Why do we need stablecoins anyway?
Different assets produce varying levels of volatility in prices, when compared to each other. For instance, the purchasing capacity of US dollar has reduced over time with 1 USD from 1913 equaling 24 USD today (2019). This happens due to inflation 3-10% per year.
In comparison, Bitcoin almost tripled in value in 2018 and then fell down by as much. Thus, fiat currencies are more stable, when compared to cryptocurrencies.
Stablecoins don't attempt to fight inflation. Instead, coins like Tether and USDQ peg themselves to US dollar, bringing relatively higher stability to crypto trading communities. One of the most famous transactions with Bitcoin is when a pizza was bought with Bitcoin back in 2010. At that time, the pizza ended up costing just a couple of bucks, but today it costs millions. Although stablecoins continue to be impacted by inflation and exchange rates that come to them from fiats they peg themselves to, they are nowhere near the mindboggingly high volatility of crypto assets.
One of the major use cases for stablecoins like USDQ is concluding long-term contracts. For instance, when using a popular decentralized platform Augur, users can bet on the price of oil in 5-10 years. The problem is that you won't only have to account for future changes in oil prices, but also for prices in Ethereum or Bitcoin that you use to make the bet. USDQ solves this problem elegantly and without much trouble. Using it, users don't have to consider future changes in Bitcoin prices and they can concentrate on what they've come here for - betting on future events. And they don’t have to worry about technical details as it’s easy to purchase USDQ and use for trader’s purposes.
Betting industry is just one of the many use cases, where USDQ can bring benefits. It can be successfully used for any transactions done across borders and long-term financial contracts. Virtually, USDQ opens up new opportunities any time value is exchanged and volatility has a negative effect.
Bottom Line
USDQ has a high potential to democratise transactions between companies and individuals globally, bringing fast execution and low volatility. The "PLATINUM BLOCKCHAIN ENGINEERING" is working hard to enable and improve various features in order to help USDQ to take leading positions on crypto markets.
Here are the main ecosystem’s features:
Taking into account these beneficial features, there's no question that USDQ will become a viable alternative to other fiat-backed cryptocurrencies like TUSD, USDT, GUSD, USDC etc. Competing with other stablecoins, both already operating and just being developed, PLATINUM ENGINEERING will roll out the new features and underlying tech solutions that'll help propel the coin.
USDQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First run in line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms for high-endurance stablecoins. Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ under USDQ brand. Fully anonymous, USDQ breaks limits out of this legacy world.
PLATINUM ENGINEERING values your opinion and welcomes you to continue the conversation on Telegram or Facebook, where the company’s development team is always ready to help you find solutions to pressing issues. Working on projects like USDQ, Michael has gained an invaluable suite of skills and insights, enabling to roll out high-usability UI/UX with tight deadlines and lack of clear expectations as to user behaviors. The team has successfully produced white-label wallets, stand-alone fundraising platforms, as well as integrated fundraising ecosystems. Any startup looking for a reliable partner to help execute a success-story will win from a free consultation with the PLATINUM ENGINEERING team about potential solutions to their needs and issues.
This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins. This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates.
submitted by vitinhoES to u/vitinhoES [link] [comments]

Black Swans, Bitcoin, and Cryptocurrency

Introduction

I recently re-read the notes that I took on the book The Black Swan by Nassim Taleb, which can be found here. When I first read The Black Swan, it completely changed my viewpoint on how systems work and function. Rereading my notes, I immediately realized that many of the principles from The Black Swan could be applied to the space of cryptocurrency today. In this post, I will use ideas from The Black Swan to analyze cryptocurrencies as a whole and hopefully allow you, the readers, to gain some more insight into systems not only behind cryptocurrency but also in systems in general.
Please note that in this article, when I use the word cryptocurrency I am also including blockchain technology within that definition.

Our Illusion of Understanding

As humans, we suffer from various mental biases that cause us to believe things that are not in fact true, especially when it comes to looking back at history. These three mental biases are:
  1. The illusion of understanding, or how everyone thinks he knows what is going on in a world that is more complicated (or random) than they realize
  2. The retrospective distortion, or how we can assess matters only after the fact, as if they were in a rearview mirror
  3. The overvaluation of factual information and the handicap of authoritative and learned people
I believe that points one and two are the most salient for this discussion when it comes to cryptocurrency. The first point applies to when we believe we understand how the world works when in reality we do not. I find this especially prevalent when I attempt to explain to others how Bitcoin and other cryptocurrencies work to other family-members and friends. To them, they believe digital currencies cannot have any value because it is artificial. They believe they understand how money works, when in reality they suffer from the illusion of understanding.
That's not to say that those that understand the value of cryptocurrencies don't also suffer from this mental bias. I am sure that I too have only an illusory understanding of cryptocurrency, and that in 10/20 years cryptocurrencies will be able to accomplish things that I had never even thought of before. Take Amazon, as an example, which when it started out only sold books. Now you can buy practically anything on Amazon with the mere click of a button. It would've been difficult in the late 90's to predict that Amazon would go that route, and yet here we are. The same principle applies to cryptocurrency as well.
The second point, regarding retrospective distortion, is also important because that's what gives us the "I knew it all along" attitude. Nassim Taleb explains retrospective distortion by stating "Much of what took place would have been deemed completely crazy with respect to the past. Yet it did not seem that crazy after the events." I believe that this will be the case for cryptocurrency as well. In 10/20 years, the same people who dismissed or did not understand cryptocurrencies will see it as an inevitability which was bound to happen. Of course, when it comes to cryptocurrency the growth and adoption will become exponential. As Taleb states -- "History and societies do not crawl. They jump". I truly believe cryptocurrency will be that next jump in our society.

The Turkey Fallacy

I believe that the Turkey Fallacy is the perfect example of our illusory understanding of the world. Here is the story behind the fallacy:
A turkey is selected by a family to be the turkey for Thanksgiving. In order to prepare the turkey for the feast, the family begins to give the turkey extra food months before Thanksgiving to make it extra plump. Now, in the turkey's view, he has it pretty good. He is consistently being fed more and more food. In fact, if the turkey assumes this will continue forever he'll have a pretty good life. Finally, on the day of Thanksgiving, the family takes the turkey and kills it immediately to feast on it.
The Turkey Fallacy is essentially this: Things work until they don't. What we learn from the past turns out to be either irrelevant or completely false, and at worst looking at the past as an example of the future can be incredibly misleading. This was no doubt the case with the turkey, and this will also be the case with cryptocurrency as well. A cryptocurrency in the top 20 marketcap, for example, may have a fatal security flaw and suddenly it becomes worthless. The best way to prevent this type of event from affecting you is by diversifying your cryptocurrency portfolio.
That unexpected event is what Taleb calls a black swan, and it comes from the fact that explorers in the 14th century believed all swans were white. One day, however, they came upon a black swan and that worldview was shattered.
Black swans can be both positive and negative, but a key point to remember is that positive black swans take time to show their effect while negative black swans can happen very rapidly. This can no doubt be seen with cryptocurrencies as well. Negative black swans, such as The DAO hack, happened very rapidly and caused the price of Ethereum to crater very quickly. Meanwhile positive black swans, such as applications that can be built on Ethereum, will generally take much longer to show their effects because it takes time for those positive events to occur.

Confirming our Worldview

The major reason that people do not become aware of black swans is because people more often than not wish to confirm what they already believe, instead of what the truth actually is. If you look hard enough, it is easy to find sources that confirm what you believe to be true.
Unfortunately, this is the wrong way to view things. You should look at the evidence and then reach a hypothesis, instead of the other way around. As soon as you formulate a hypothesis, you should immediately try to find evidence to the contrary of your hypothesis to test it. Ask yourself, "what evidence would prove me wrong?" If you find evidence that goes against the validity of your hypothesis, then readjust your hypothesis. This type of thinking allows you to formulate well-structured, thorough hypotheses on things. This is especially important when it comes to cryptocurrency, as the field tends to learn towards complex hypotheses as opposed to simple ones. The world lends itself more to shades of grey as opposed to simple black-and-white viewpoints, which usually only serve as naive simplifications of complex issues.

Why we can't predict black swans

A key component of black swans is that they are highly asymmetrical in terms of consequences. If you look at Bitcoin, for example, you will see what I mean. The rise in value of one Bitcoin in the past 7 years was massive and, even for people who understood what Bitcoin was capable of, would be nearly impossible to predict. Other black swans, such as the DAO hack, caused an extremely negative outlook for Ethereum and cryptocurrency as a whole.
One can see why it would be useful to be able to predict a black swan -- after all, if we can see it coming then we can avoid its effects entirely. Unfortunately, predicting black swans is nearly impossible. Why? Because we have an innate bias to think we know more than we actually do. This is also known as epistemic arrogance, which is hubris concerning the limits of our own knowledge.
The issue, too, is that people may acknowledge this fact but believe that experts in a field are somehow more capable of predicting these types of things than normal people. In fact, the more we view ourselves as an "expert" in a field the more our estimations become inaccurate in other fields: Janitors and cabdrivers were able to make more significantly accurate predictions in random facts like the height of a building than Harvard MBAs.
Studies have shown that people who professionally make forecasts are especially prone to this type of mental bias. Public price predictions of Bitcoin that predict the price will reach $100,000 in 10 years or even $1 billion are more based on making sensational headlines and news stories than being based in reality. People who publicly state price predictions are usually incentivized to make outlandish claims because:
  1. It makes for a good headline
  2. It gives them the "knew it all along" if they turn out to be right. These people will be heralded as geniuses or market "wizards"
  3. If they're wrong, they can simply deflect questioning. Most likely, the price prediction will be forgotten quickly anyway.
When you perform incorrect predictions, you usually deflect in three ways:
  1. You tell yourself that you were playing a different game entirely.
  2. You invoke the outlier. i.e. "that event was one in a million so there was no way to predict it!"
  3. You use the "almost right" defense: You focus on the parts you got right, not the ones you got wrong.
It's also important to remember that sophisticated or complex methods of predicting events does not necessarily lead to more accurate forecasts than simpler methods.

Tools and Toys

The most important advances we have in society are also the least predictable. Bitcoin is a clear example of this. Almost all advances in society are the direct result of a tool that was built. These tools can lead to unexpected effects and outcomes, which themselves can lead to even more unexpected outcomes. Whatever tools lead to, they rarely are used exactly for what they were first intended for. Facebook was originally exclusively for Harvard students. Taking a more outlandish example, Play-Doh was originally created because Kroger wanted a product that could clean coal residue from wallpaper.
"We build toys. Some of those toys change the world".
The best way to get maximal exposure to positive black swans is to continue researching and gathering potential opportunities. It is important, however, that we do not use the past too often as a reference for what the future will be. Too often, when we think of tomorrow we project it as just another yesterday. As the common saying goes, "Past performance is not indicative of future results." Even if the past were somehow an indication of what is to come, we do not truly know much about the past either.
It's also important to distinguish between chaotic and random systems. Random systems are completely random and do not have any predictable properties. Chaotic systems, on the other hand, have predictable properties but are difficult to understand and know. Lottery numbers are random, the price of a cryptocurrency is chaotic. Being able to tell the difference between the two is key in discovering areas where you can find black swans.

How to maximize the effect of (positive) black swans

Now that you understand what black swans are and how difficult they are to detect, what can you do in order to increase the likelihood that you effected by a black swan? You must maximize your serendipity. Serendipity is defined as "the occurrence and development of events by chance in a happy or beneficial way". To maximize your serendipity, you must find instances where there are highly asymmetrical positive payouts (e.g. Bitcoin, other altcoins, etc.) and increase your exposure to these instances as much as possible.
When exposing yourself to these highly asymmetrical opportunities, you must do it in a number of different fields or areas in order to diversify serendipity while limiting your downside but maximizing your upside potential. Let's use another field besides cryptocurrency as an example of this: venture capital. Let's say that a venture capitalist invests $25k into 10 various startups one year after their founding, all of which could potentially have positive black swans. Let's say that 8/10 of those companies experience negative black swans and those go bankrupt. Out of the two companies that's left, one of them happens to break even and you make your money back but that's it. Unfortunately, you're still $200k down. But what about the last company? What if that last company you invested in were Uber, or Facebook? Suddenly that $25k could potentially be worth hundreds of millions of dollars, more than making up for your other losses. The same principle applies with investing in cryptocurrency: You probably won't be able to pick exactly the next big winner, but you could probably diversify among 10 different coins that could have positive black swans in the future.
It is usually futile to exactly predict black swans, as usually what occurs is reading the signal as the noise and over-interpreting data. Instead, it is recommended that you instead spend your time looking for areas where there is a strong possibility a positive black swan could exist, even if you don't know exactly what it is yet. Seize anything that looks like an opportunity, because they are much, much rarer than you think. Remember that to feel the effects of positive black swans, you must be exposed to them first.
Lastly, remember that usually there will be periods of calm and stability punctuated with massive change (for better or for worse) concentrated from a small number of black swans. Those black swans are the ones to look out for, and the ones you least expect.
submitted by domecraft1 to btc [link] [comments]

Good proect

What are Stable Coins? USDT, TUSD, GUSD, USDC and USDQ

In this article, Slava Mikhalkin talks about USDQ, a fully algorithmic stablecoin that offers reliability and easy collateralization for Bitcoin. Working as a Blockchain Architect with PLATINUM ENGINEERING, Slava collaborates within the +200-employee team to develop bleeding edge solutions in white-label wallets, STOs and IEOs fundraising platforms, and full-cycle business models for crypto projects. A key value proposition, brought by PLATINUM ENGINEERING, is a holistic approach, where a versatile talent pool helps startups build up capabilities in IT, marketing and legal. A unique decentralized stablecoin USDQ features various price stabilization algorithms, an intricate system of incentives for traders and AI-driven predictive analytics module. This novel stablecoin is worth noting while it’s still gathering steam.
Foreword
It's clear that cryptocurrencies are gradually making inroads into the global economy, moving closer to mass adoption. Cryptocurrencies offer a number of advantages - decentralization and trust, lower commissions and disintermediation - that make it easier for users to carry out their daily transactions. Anybody can transfer value around the globe, winning from fast processing time.
In comparison, sending value across borders via legacy financial systems requires lengthy waiting periods and fees, while also making users stuck into highly complex processes. For instance, if a person from Japan wants to send some money to England, the fees can range anywhere from 5% up to 10%, depending on the system being used. In addition, there will be some currency conversion fees. It seems that centralized players, currently enjoying lack of competition, set up fees and commissions just as they wish.
And it's merchants that carry out cross-border transactions that find working with legacy finance institutions most troublesome. They keep losing hefty chunks from their potential profits, just paying out fees to payment processors. This makes businesses hike up their prices, passing these expenses to ordinary consumers. Crypto offers a paradigm shift change, bringing to the table lightning speeds and lower fees. Although cryptocurrencies have been winning more and more attention from merchants worldwide, there's still a number of roadblocks to wider adoption, among which are price volatility, scalability limitations and others.
Volatility is admittedly the biggest hurdle that prevents businesses from using cryptocurrencies more. Bitcoin can experience huge fluctuations in just a matter of hours or even minutes. In addition, major coins like Bitcoin and Ethereum present scalability issues, which results in high processing time. A merchant, who has to handle hundreds of payments on a daily basis, would not be able to conduct their business efficiently if transactions get stuck for days on end. On top of that, it's extremely hard for adopters to convert cryptocurrencies into fiat via the banks and other financial agents they usually work with.
Cryptocurrencies seek to offer solutions to all of these issues.
What is stablecoin?
A stablecoin is a cryptocurrency, whose architecture enables its price to always equal the price of another asset. Most of the stablecoins are pegged to USD. The biggest names in cryptocurrencies are Tether, Gemini Dollar, USDQ, TUSD and others.
How do stablecoins manage to be so stable?
As opposed to other coins that float freely, stable cryptocurrencies require that each unit is backed with a unit of the fiat currency. For instance, Tether (USDT) pegs 1 USDT to 1 USD on the one-to-one basis. In this way, stablecoins are somewhere between cryptocurrencies and regular fiats. Tether is based on its own blockchain that is built on top of Bitcoin, Litecoin and Ethereum systems.
Although Tether is the biggest stablecoin, there's a number of concerns as to its operations. The biggest one is the continuing controversy as to the fiat reserves, which the issuer is supposed to store on the one-to-one ratio to the number of issued Tether units. The company has been saying that the audit will be done in the near future, but just several weeks ago it started to claim that it's not only the cash, but also loans to other companies that can be recorded as fiat reserves. These statements resulted in growing distrust among crypto enthusiasts.
Another project is TrueUSD (TUSD). It also pegs to USD. The difference with Tether is the openness to audits and transparency. The company is open to third-party audits, it publishes the duly verified reports on the fiat reserves it holds. In addition, users enjoy legal protections.
USDC is another stablecoin that was created by the famous cryptocurrency exchange Circle. Just as TUSD, if offers regulatory compliance and transparency. The big problem about all these systems is the fact that they enable authorities to seize users’ funds, which completely negates the very idea of decentralization and anti-censorship, on which crypto is built.
USDQ is different from other stablecoins as it's not backed by the fiat currency, but by Bitcoin and other top-10 cryptocurrencies in the future. This enables the ecosystem to avoid dealing with legacy financial systems. Through the overcollateralization process, USDQ turns highly volatile cryptocurrencies into the USD-pegged USDQ that is perfect for storing value and processing transactions in the external economy without any risk of price changes. The coin is being developed by PLATINUM ENGINEERING with the small community slowly growing around the project.
Why do we need stablecoins?
Stablecoins have advanced as a new iteration on cryptocurrencies, enabling to address such issues as high volatility and interactions with legacy financial systems.
Coins like USDQ make sure that various mechanisms are used in order to stabilize the prices at the USD peg. Traders can easily change their Bitcoins into USDQ and thus prevent the negative impact on unwanted prices changes. Stablecoins are very easy to use, which is a boon for non-techy adopters. Any person from around the world can quickly convert fiats into stablecoins, without any need to think about future price changes and without worrying about potential risks for losing their funds. As a rule, you'll always find various stablecoins on crypto exchanges, enabling traders to quickly move around stables and other cryptos.
As we've spoken above, cross-border payments win most from using the stablecoins. This hybrid species between fiat and crypto will help open up the hidden value in global trade, amounting to trillions of dollars in profits for stakeholders.
USDQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First run in line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for high-endurance stablecoins. Fully anonymous, USDQ breaks limits out of this legacy world.
PLATINUM ENGINEERING openly shares about its development and vectors for growth, enabling stakeholders to learn about cutting-edge solutions in the blockchains/crypto domain. PLATINUM ENGINEERING has already helped over 150 crypto projects to grow through emerging blockchain economy of the future. Businesses would be amazed at new capabilities they can obtain through tokenizing their business models, automating routine business processes and drawing investors on crypto markets. The team welcomes the community to contact directly via the official groups in Telegram, Facebook or LinkedIn. Readers will learn how to obtain new competitive advantages by tapping into blockchain in their blog.

What is Q DAO and USDQ StableCoin? Fully Explained.
In this article, Slava Mikhalkin shares his opinion about USDQ, a unique fully decentralized stablecoin for easy Bitcoin collateralization. Serving as a Blockchain Architect at PLATINUM ENGINEERING, he’s helped deploy dozens of DLT-based success stories. Leveraging +15Y developer track record, he empowers USDQ with high-usability UI and robust back-end. Smart contracts the team develops quickly turn into industry best practices. He's certain that blockchain will disrupt finance as we know it. He goes raw on USDQ's inner working, telling it all.
Look into real-life use cases for Q DAO
Introduction
Cryptocurrency markets have been famous for huge volatility. This quality of crypto helps speculators earn enormous profits. This high volatility drew attention to Bitcoin in December 2017 when the price rocketed up to $20,000. Subsequently, the price plummeted. And up to this day, no other cryptocurrency has managed to repeat this feat. Some adopters don't need speculation and only want to use crypto to execute transactions, but scalability issues mean that execution might lag and prices might slip. As a result, either of the parties will inevitably incur a loss. USDQ has been created to address this very issue.
What are the problems that volatility creates?
  1. Cryptomarkets are moving toward creating the second financial system, featuring all those capabilities that the legacy finance institutions enable. Among these, lending is of particular importance. And lending doesn't win from volatility but only loses, because it's either lenders or borrowers that will lose from a change in prices for a crypto asset, which is used to execute the lending contract. Consequently, creating a stable crypto asset has become a top priority for the community with many experts believing that without it no adoption will occur.
  2. For another group of users, volatility is how they make money. It's traders. But even traders sometimes look for assets to cover against undesired prices moves. The only option they have is to transfer value into a more stable asset. Fiat is the first choice that comes to mind, but the big disadvantage of fiat is lengthy processing process, KYC/AML and fees. The crypto asset that simultaneously behaves just as fiat does and offers all the perks that cryptocurrencies do will always in favor among crypto traders.
All about Q DAO token
Seeing all these needs in the market, Q DAO was created in order to act as an internal governance token within the ecosystem, which helps to govern USDQ, a USD-pegged stablecoin. All future projects within the ecosystem will be carried out with the use of this internal token, bringing wide utilization of Q DAO and a driver behind the strong growth potential. As of now, it’s only Bitcoin that users can use as a collateral, but there are plans to expand to other top 10 crypto assets as well. Importantly, the ecosystem doesn’t use national fiat currencies, thus eliminating any need to engage the legacy financial system.
Naturally, the more successful the ecosystem projects are, the more rationale there'll be for Q DAO to grow in price. And USDQ has already proven that the crypto industry has evaluated the system's use at a high level. The coin’s value is pegged to USD, so 1 USDQ = 1 USD
What's the purpose of Q DAO token?
Q DAO is used in several ways throughout the USDQ ecosystem. The first of them is paying fees, payable by users who wish to exchange back from the stablecoin into Bitcoin or other cryptocurrencies which were locked as a collateral. Whenever the fees are paid, Q DAO is burned, which results in supply reduction and growing prices.
The second way for Q DAO to bring value is enabling participation in the ecosystem governance. All holders of Q DAO token are entitled to participating in votes on proposals regarding to potential changes within the system. Since holders will win from continued success and expansion of the system, they are incentivized to thoroughly review the proposals and vote only for the most promising ones.
What's the fair value for Q DAO? Is it underpriced or overpriced?
The fair market value for Q DAO is indirectly correlated to the prices for USDQ. As long as the use of USDQ continues to grow, so will the prices for Q DAO. Accounting for the fact that USDQ is one of the pioneering stablecoins that will enable easier and more effective crypto lending, there are currently enormous opportunities for growth. In the years to come, combined with benefits from fast processing and lowered fees, Q DAO might garner global popularity as an instrumental component for lending, transacting and funding transactions, all automated and transparent through the use of smart contracts.
USDQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First, run in the line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for high-endurance stablecoins. Fully anonymous, USDQ breaks limits out of this legacy world.
PLATINUM ENGINEERING openly shares about its development and vectors for growth, enabling stakeholders to learn about cutting-edge solutions in the blockchains/crypto domain. PLATINUM ENGINEERING has already helped over 150 crypto projects to grow through emerging blockchain economy of the future. Businesses would be amazed at new capabilities they can obtain through tokenizing their business models, automating routine business processes and drawing investors on crypto markets. The team welcomes the community to contact directly via the official groups in Telegram, Facebook or LinkedIn. Readers will learn how to obtain new competitive advantages by tapping into blockchain in their blog.
This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins. This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates.

What Is USDQ and Q DAO? Complete Guide from PLATINUM ENGINEERING
Mihaill Kudryashev, a Front-end engineer at PLATINUM ENGINEERING, wrote this article while seeking to raise awareness about USDQ, a stablecoin his team is helping to develop. Among the biggest benefits, USDQ brings full decentralization and predictive capabilities. Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ under Q DAO governance. Slowly learning more about blockchains, Mihail has been effective in transforming vague ideas into effective front-end solutions with strong UI/UX. Within his team, he’s helped many crypto startups to make their voice heard throughout the emerging global crypto community. In this article, Mihail looks into the key benefits that users win from using USDQ.
USDQ brings stability, with no need to engage legacy finance
How do USDQ and Q DAO coins work within the ecosystem?
USDQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. It's backed by Bitcoin (another top 10 cryptocurrencies will be added in future). The elegant system places all transactions on the blockchain and empower users to execute cross-border and disintermediated transactions at any time and from any place. It's pegged to the value of USD, i.e. 1 USDQ always equals 1 USD. The ecosystem's design borrows heavily from fractional banking systems. In the nutshell, USDQ is a customer-facing stablecoin and Q DAO is an internal "operational" coin; together they help create a stabilized safe haven for anybody who's looking to hedge against rampant volatility of crypto markets.
Introduction to Q DAO and USDQ
There's a number of factors that prevent mass adoption of cryptocurrencies. The biggest factor among this is high volatility, seen in crypto. Bitcoin, the oldest and most popular coin, has been fluctuating with prices oscillating between 20,000 and 3,500 in just one year of 2018. No potential adopters, be it merchants or individuals, would be happy with suffering huge losses that such drastic changes can entail. And it's this high volatility that USDQ is set to address, bringing stability and convenience.
Tether (USDT) is probably the most well-known and widely used stablecoin. However, it has been embroiled in various controversies from the very start with no end to these in sight. Although the system is supposed to assure the 1-to-1 fiat reserves for all Tether units created, the website content has been recently changed to say that the issuer views not only cash in the bank, but also various loans to other companies, as the reserves. Both regulators and crypto enthusiasts have voiced concerns, which might bode ill for Tether in the months to come.
USDQ works differently. Here, the stablecoin is pegged to US Dollar and backed by Bitcoin (+top 10 other cryptocurrencies in future). It's similar to lending operations and fractional banking systems. Overcollateralization is used to mitigate potential unexpected changes in assets prices.
The USDQ ecosystem is highly transparent as all of the operations are recorded on the immutable Ethereum blockchain, open to review by anybody and at any time. The smart contracts bring automation to business processes and eliminate the need for middlemen to assure trust and prevent abuse.
In order to determine how viable USDQ will be in the future, we need to discuss the two tokens used within the ecosystem.
Review of Q DAO and USDQ
Q DAO is governance token, entitles holders to participate in voting for new decisions. Importantly, holders are interested seeing Q DAO's prices growing and thus they are incentivized to thoroughly review proposals and deliver the best decisions. In this way, Q DAO imbues higher democracy and decentralization, on which many current crypto projects lag.
In addition, all the fees, charged for the system use, can be paid only in Q DAO.
In order to create USDQ, a user needs to transfer Bitcoins into a Collateralized Debt Contract (CDC). This will automatically trigger the smart contract to generate USDQ and send it to the user. In order to change USDQ back into crypto assets, users need to pay back the amount of USDQ they input and the fees, chargeable in Q DAO Tokens. Whenever this is done, USDQ is automatically destroyed and the Collateralized Debt Сontract is closed.
In addition by getting USDQ directly at the company's website, users can trade in USDQ on secondary markets. It's as easy as trading Bitcoin or Ethereum or any other coin.
Traders can store both coins in their wallets, assuring higher security. The stability and ease of use for USDQ open up wide ranges of adoption for both businesses and end consumers alike.
What makes USDQ stand apart
The main difference between projects like Tether and USDQ is complete transparency and openness in the inner workings of USDQ. All the data is easily accessible on the blockchain and there are no rumors or controversies as to the reserves held by the team, potential conflicts of interest or hidden agendas.
The CDС mechanics ensure that it's impossible to create fake units of USDQ, as smart contract can be activated only after an amount in Bitcoins is input. The development is being done completely transparent. Interested parties can review the smart contract, presented on the website. The audits and peer reviews were carried out to assure the highest quality of smart contract. The website-based scanner enables to track all the data about each and every transaction, including time, amount and collateral size.
In addition, should a "black swan" event occur, i.e. a drastic fall in Bitcoin prices, Q DAO is sold on secondary markets. Bitcoin value is liquidated to make a USDQ buyback procedure, which prevents any losses on the part of the system's users.
Additionally, PLATINUM BLOCKCHAIN ENGINEERING which is helping to develop the ecosystem is working hard to build up long-term partnerships with stakeholders in the crypto industry. The more liaisons the team wins, the better outlook for USDQ will be.
Why do we need stablecoins anyway?
Different assets produce varying levels of volatility in prices, when compared to each other. For instance, the purchasing capacity of US dollar has reduced over time with 1 USD from 1913 equaling 24 USD today (2019). This happens due to inflation 3-10% per year.
In comparison, Bitcoin almost tripled in value in 2018 and then fell down by as much. Thus, fiat currencies are more stable, when compared to cryptocurrencies.
Stablecoins don't attempt to fight inflation. Instead, coins like Tether and USDQ peg themselves to US dollar, bringing relatively higher stability to crypto trading communities. One of the most famous transactions with Bitcoin is when a pizza was bought with Bitcoin back in 2010. At that time, the pizza ended up costing just a couple of bucks, but today it costs millions. Although stablecoins continue to be impacted by inflation and exchange rates that come to them from fiats they peg themselves to, they are nowhere near the mindboggingly high volatility of crypto assets.
One of the major use cases for stablecoins like USDQ is concluding long-term contracts. For instance, when using a popular decentralized platform Augur, users can bet on the price of oil in 5-10 years. The problem is that you won't only have to account for future changes in oil prices, but also for prices in Ethereum or Bitcoin that you use to make the bet. USDQ solves this problem elegantly and without much trouble. Using it, users don't have to consider future changes in Bitcoin prices and they can concentrate on what they've come here for - betting on future events. And they don’t have to worry about technical details as it’s easy to purchase USDQ and use for trader’s purposes.
Betting industry is just one of the many use cases, where USDQ can bring benefits. It can be successfully used for any transactions done across borders and long-term financial contracts. Virtually, USDQ opens up new opportunities any time value is exchanged and volatility has a negative effect.
Bottom Line
USDQ has a high potential to democratise transactions between companies and individuals globally, bringing fast execution and low volatility. The "PLATINUM BLOCKCHAIN ENGINEERING" is working hard to enable and improve various features in order to help USDQ to take leading positions on crypto markets.
Here are the main ecosystem’s features:
Taking into account these beneficial features, there's no question that USDQ will become a viable alternative to other fiat-backed cryptocurrencies like TUSD, USDT, GUSD, USDC etc. Competing with other stablecoins, both already operating and just being developed, PLATINUM ENGINEERING will roll out the new features and underlying tech solutions that'll help propel the coin.
USDQ is decentralized stablecoin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First run in line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms for high-endurance stablecoins. Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ under USDQ brand. Fully anonymous, USDQ breaks limits out of this legacy world.
PLATINUM ENGINEERING values your opinion and welcomes you to continue the conversation on Telegram or Facebook, where the company’s development team is always ready to help you find solutions to pressing issues. Working on projects like USDQ, Michael has gained an invaluable suite of skills and insights, enabling to roll out high-usability UI/UX with tight deadlines and lack of clear expectations as to user behaviors. The team has successfully produced white-label wallets, stand-alone fundraising platforms, as well as integrated fundraising ecosystems. Any startup looking for a reliable partner to help execute a success-story will win from a free consultation with the PLATINUM ENGINEERING team about potential solutions to their needs and issues.
This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins. This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates.
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