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Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

entethalliance.org

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Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#71

Post by kaoD »

PretzelPirate wrote: post #60
Asdfbla wrote: post #49

Always 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…

Those companies are using Ethereum without PoW in their private networks. They plug in a different consensus model.

Are they? I know it's possible but I can't think of a single use where traditional software and/or contracts are more convenient.

What does Ethereum with no PoW bring to the table?

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#73

Post by joeblau »

lpasselin wrote: post #7

What are the advantages Ethereum has over Bitcoin, except faster transactions?

They are two different technologies for two different problems. Your question is analogous to asking what advantages gold has over oil.

Genrally:

- Bitcoin is a store of value token with the goal of becoming a decentralized reserve currency.

- Ethereum is a smart contracts token with the goal of turning all business operations into programmatic traceable transactions.

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#74

Post by DennisP »

jethro_tell wrote: post #57
DennisP wrote: post #43

Earlier quoted context omitted.

For now, because the public chain doesn't have the privacy and scalability they need. They expect that to change, and which point they plan to migrate some applications to the public chain. In the meantime they're being careful to stay compatible, and contributing development resources. Also JP Morgan has a client that bridges public and private chains. Source: I watched the EEA conference, and some smaller presentat…

Interesting, are they funded in anyway by eth coin?

As far as I know the big corporations haven't invested in ETH. There are also some ICO-funded startups involved. I don't think the Ethereum Foundation is funding any private chain efforts, though they are collaborating with the EEA.

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#75

Post by wideem »

JumpCrisscross wrote: post #18
lpasselin wrote: post #7

What are the advantages Ethereum has over Bitcoin, except faster transactions?

Better politics, internally and externally. Internally because the community isn't as hardcore. Externally because it hasn't been publicly associated with black markets the way Bitcoin has.

ETH is a premined coin, that is also much more centralized that bitcoin

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#78

Post by JackFr »

wuliwong wrote: post #29
Torai wrote: post #12

> 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 have always thought that but it just crossed my mind that credit cards are basically just terrible loans. You could still give out loans in cryptocurrencies. Maybe Master Card could just switch if a particular crypto currency gained wide adoption. They could start issuing new cards with some sort of technology that allowed for cryptocurrency transactions at businesses. Or maybe they can use existing card tech, I re…

So maybe I don't understand this, but one of the purported advantages of cryptocurrencies is that the supply cannot be expanded by loose credit.

Thus it is seemingly impossible (to me at least) for a bank to for a bank to extend credit.

Re: Master Card, Cisco, and Scotiabank Join the Enterprise Ethereum Alliance

#79

Post by CuriousCosmic »

avaer wrote: post #66
komaromy wrote: post #62

Earlier quoted context omitted.

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.

however that swiss corporation is Ethereum Switzerland GmbH which kinda exists for the sole purpose of making Ethereum
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