Partnering with NEVERDIE on their ICO for Etherium Block Chain Tokens

Discussion in 'Announcements' started by Lord British, Jul 20, 2017.

  1. Jaanelle DeJure

    Jaanelle DeJure Avatar

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    The essence of the concept behind cryptocurrency is that we can use blockchain technology in order to directly exchange value on the Internet, without the use of an intermediary like a bank or a clearinghouse.

    The reason we typically need banks and the like is in order to have a third party certify that a real transaction has occurred by maintaining a ledger that records the transactions.

    Since blockchain is essentially a distributed ledger, all of the transactions of a blockchain-based currency become the content of the blockchain itself. Because the blockchain is distributed among multiple nodes, the trust factor is supplied by the consensus of the nodes that the transaction occured.

    There are many other uses of blockchain technology as well. For example, it could be used to create a tamper-proof voting system. Or even allow citizens to vote in real-time on proposed legislation, thus undercutting the need for a representative congress. That's just one example- there are many and most of them have not even been discovered yet!

    TL;DR We no longer require a third party for two entities to exchange something of value.

    BTW there is technically nothing prohibiting a POT governor from issuing their own Ethereum-based tokens. There's just no immersive way to exchange them in game.
     
    Last edited: Aug 3, 2017
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  2. Time Lord

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  3. Krissa Lox

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    Well, I just acquired the publishing rights to some cryptocurreny materials for my online employment site. After I verify the info and get it released, it'll be interesting to think through and possibly try out some innovative uses as both an employer and a developer. Maybe not pertaining to this thread specifically, but I'm still interested in continuing discussion if it grows past just being commentary on a news item.
     
  4. Barugon

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    Ooo, I like the idea of a blockchain cypher voting system.
     
  5. Brickbat

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    The problems with blockchain voting =
    #1 Verifying that the voter is eligible voter and not stuffing the ballet box with a multi wallet system. Possible solution would be to require an exchange of value/token to validate.
    #2 When ALL transactions are recorded, eventually with enough real life interactions with said blockchain the other party knows who you are and everyone you have dealt with. Same with voting, I wouldn't be surprised if the authorities (IRS, FBI, IBM, Google, Facebook, Amazon, Fitbit, etc.) already don't track/log and figure out who is doing what. Chilling effect if your votes are recorded for prosperity.

    V/R Brickbat
     
  6. Jaanelle DeJure

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    Definitely issues to keep in mind!

    1. Similar to as you suggested, a single-use private key could be issued to every authenticated voter.

    2. Similarly, users can get a new public key for each and every transaction, should they desire, to maximize privacy.

    Still better than relying on a bunch of people who are much more prone to mistakes and corruption, i.e. chad confusion and "oops" we forgot to count those absentee ballots... again. ;)

    If deployed in an emerging democracy, I think blockchain voting could have revolutionary potential, both figuratively and literally.
     
  7. Brickbat

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    They NEVER count absentee ballots unless the election is razor close and needs a recount, even then they only do it if they have to like...oh we got 500 absentee ballots in and the margin between the candidates is less then 500 then they might.

    Still the best country in the world!

    V/R Brickbat
     
  8. Jaanelle DeJure

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    Yeah, well that may be so.

    But if this kind of incompetence is the best we have to offer, I think we all have a looong way to go.

    I'll take my chances with the blockchain. :D
     
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  9. Brickbat

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    Pour one for Detroit, it'll be less than 10 years until the next Bankruptcy-Half Ass restructuring. It's R.I.C.O. worthy corruption that will never be broken up - like Chicago and the State of California. The difference for California is that at least Cali has nicer weather.
     
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  10. Solazur

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    I gotta say, I'm glad this all went down. Only time will tell how my Neverdie investment works out but my bones say it'll fly just fine. I split my investment though...I put 1/2 my $ into the neverdie coins and 1/2 into Ether. Tbh.. this whole thing had kinda been slipping past me. If not for @Lord British getting into it I may have continued to overlook the fascinating world that is blockchain.
     
  11. Jaanelle DeJure

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    Agreed. I've been telling myself that I need to wrap my mind around blockchain for some years now. This finally put the fire under my butt.

    Turns out that blockchain might be the solution to a couple of things I've been trying to figure out for my business. Which itself was partially inspired by LB/Ultima.

    Thanks again, Richard! :)
     
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  12. Solazur

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    I'd be (and am) more inclined to be wary of the security of our banks. Which reminds me.. someone.. I don't recall who atm, made mentioned of $ in banks at least being insured. I had to chuckle when I read that as the whole FDIC thing is one of the biggest frauds ever perpetrated. Most people aren't aware for example that the amount that sticker in your bank's window is the total amount for your registration number (aka your SSN). In other words.. if you had $250k in 10 banks, you would only be able (hopefully) to recoup 250.
    I don't know what the current stats are, but I remember well as a young stockbroker in training ( take the wayback machine to the early 90's) the amount that was actually available to cover losses was a fraction of a % (something less than 1%) of the total amount of bux in da banks. Things haven't changed.
    Another thing, unlike your car insurance, they don't have to pay out all at once. They can pay back your 250 and spread that out over 10 years.. backed ofc on your now dwindling full faith in the credit of the Us of A.
    That sticker in the window has one main function... to serve to keep us lulled into a false sense of security so we don't all do a run on the banks

    just saying :)
     
    Last edited: Aug 5, 2017