Based on this, it seems to me that financial corporations didn't want to take the risk of decentralized crypto-currencies making them obsolete, so they decided to create their own crypto-currency, one they can control...
Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
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Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#62Based on this, it seems to me that financial corporations didn't want to take the risk of decentralized crypto-currencies making them obsolete, so they decided to create their own crypto-currency, one they can control...
Regardless of your opinions about Ethereum, its origins were decidedly non-corporate.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#63What are the advantages Ethereum has over Bitcoin, except faster transactions?
People like to compare the two but they are actually quite different. Bitcoin is supposed to be a store of value, Ethereum is a new decentralized web protocol. ETH is the gas used to power smart contracts on this protocol.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#64Always surprises me a bit because it seems to me like those large corporate players don't necessarily need all the features offered by Ethereum (or Bitcoin), especially proof-of-work, since there's enough non-adversarial cooperation between them that a simple distributed ledger with traditional (efficient) consensus mechanisms would suffice for most of their applications. They wouldn't have to deal with the drawbacks…
EDI and other JIT Hub technologies have nonrepudiation as a core feature. I always wondered if blockchain could be adapted for that. If so then it would make sense for almost every B2B interaction.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#65Earlier quoted context omitted.
More capable embedded code that can implement interesting criteria to be enforced on transactions.
I'm just learning but are there any real world examples of this yet? any idea what % of transactions utilize this today?
Your probably looking for some working examples of dApps (decentralized apps). Install MetaMask for Chrome and visit one of these sites: http://etheroll.com, http://etherdelta.github.io, and http://oasisdex.com are all working examples of smart contracts at work.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#66Based on this, it seems to me that financial corporations didn't want to take the risk of decentralized crypto-currencies making them obsolete, so they decided to create their own crypto-currency, one they can control...
Regardless of your opinions about Ethereum, its origins were decidedly non-corporate.
According to Wikipedia it was started as, and at, a Swiss corporation, followed by raising a crowd investment.
So it was a funded corporation before it was a cryptocurrency.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#67Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#68> The EEA describes itself as a standards group designed to help enterprises build their own interoperable technology, mostly using private versions of the ethereum blockchain. Ether price soaring right now, but isn't Master Card's bussiness direct competition of the public Ethereum blockchain as a payment system?
I don't understand why the coin would increase in value, it's the tech that they are looking at, to use among themselves on private block chains.
Them using the tech privately is seen as an indication of support (or at least interest) in the platform. So the public coin benefits from exposure and validation of its tech.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#69It seems like Ethereum is getting a lot more industry support than Bitcoin ever did. If Ethereum continues it looks like it could kill off Bitcon, the looming possibility of a hard fork might be contributing make that happen really soon.
The hard fork will likely have enough hash rate and industry support that it will go smoothly.
Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance
#70Andhra Pradesh, one of the four who have joined this alliance in the announcement, is a state of India. Visakhapatnam is its largest city, with just about 50 million people, more than the state of California.