Red Alert: Australia About to Lose Right to Use Cash—Activate “The People” [videos] ~ July 31, 2019


Editor’s Note: The bigger guns are being pulled out now by the Dark! The are saying…”Let’s take away their ability to use cash, and then we can easily control them by cutting of their funds whenever we want for whatever reason!” Shades of Hunger Games!

I think we 99% are just a tad smarter then the dark, and we all KNOW this plan, too, will fail as well, but be prepared (if you know what I mean), and be…

InJoy!

___________________________________________________________________________________________

Red alert: ScoMo declares war on the Australian people

Time to speak up in Oz. Or else.

We have warned the citizens of the world that cryptocurrency is a multi-pronged weapon of the globalists to take control of the financial system and remove control from the People. Without cash in hand, you lose your power over your finances. The repeated so-called “hacking” of personal data banks and financial institutions, Facebook, etc. should tell you that “virtual” is a dangerous way to go.

The controllers would have us cashless. Anything good for them, is bad for us.

The cabal wants access to everyone’s personal data and finances and cryptocurrency is the ideal way to do it. If you need a card or an access chip implant to get to your virtual money, you could be SOL any time the establishment decides you are a problem that must be dealt with. Disagree with the government? You’re the enemy. Refuse to vaccinate? You’re the enemy.

You may as well hand over your bank account to them now if you’re going to go crypto and cashless. It’s bad enough as it is with money simply being numbers on a screen—not to mention the privacy concerns.

You’d best speak up, folks, or forever hold your peace. The People need to actively run their country and their government, not sit back and let the corrupt globalists run it for us. That’s how we all got in the mess we’re in now, and it’s rapidly getting worse.

There are many reasons to reject a cashless society that we won’t get into here and it’s a critical precipice. ACT NOW. This is time sensitiveinstructions below to preempt this legislative trickery.

Thanks for the heads up, Richard.  ~ BP


Citizens Electoral Council of Australia
Media Release Wednesday, 31 July 2019

Craig Isherwood‚ National Secretary
PO Box 376‚ COBURG‚ VIC 3058
Phone: 1800 636 432
Email: cec@cecaust.com.au
Website: http://www.cecaust.com.au

Red alert: ScoMo declares war on the Australian people

In a critically important new video post, economist John Adams and banking expert Martin North have thoroughly exposed Scott Morrison’s sneaky legislation to strip Australians of their right to use cash.

Click here to watch: “Red Alert: ScoMo Declares War On The Australian People!” on YouTube

Following on from their 16 March post, “A War On Cash Is A War On The People“, Adams and North dissect the just-released exposure draft of the government’s Currency (Restrictions on the Use of Cash) Bill 2019, which bans all cash transactions over $10,000.

They note that this draft legislation was released online by Treasurer Josh Frydenberg late last Friday afternoon, in order to evade scrutiny. As experienced in 2017, when Morrison released the exposure draft of his APRA crisis resolution powers bail-in law also on a Friday afternoon, such laws, if the Opposition doesn’t oppose them, can be easily sneaked through Parliament without anybody knowing, least of all the MPs who either just vote the way they are told, or don’t bother to vote at all.

(In the case of the 2017 law, it was detected by a sharp-eyed staffer at the Citizens Electoral Council who recognised it was a bail-in law. In the case of this cash-ban law, it was only detected by someone from outside Australia who monitors money laundering policies, who tipped off an Australian contact, who tipped off John Adams!)

Adams and North discuss in detail the International Monetary Fund’s promotion of negative interest rates as monetary policy to support the global financial system, which cannot work without a cash ban, as consumers would simply pull their money out of banks. This was the experience in Japan. Adams puts the probability of negative interest rates coming to Australia in the next three years at 50 per cent.

They also explain the difference between the legislation, which bans all cash transactions over $10,000, and the associated regulation that the government claims will exempt cash deposits and withdrawals in banks, and consumer-to-consumer cash transactions. This is a sneaky trick, however, as the responsible government minister can change the regulation at any time, removing all exemptions to the law.

Martin North observed that this measure is of a type with many other changes in recent years which centralise control and restrict civil liberties. “We are going to lose more and more of our ability to do the things we want to do”, he warned. “We’ll have to dance the tune that’s being played by the piper.”

Voice your objection to this law!

All concerned Australians are urged to get involved in fighting this law, which could be introduced in Parliament as early as September. Whether you use much cash or not, this still affects you, because it strips you of your right to use cash, and forces you to use the private banks. By doing so, it removes the power of consumers to keep the banking system honest, on such policies as bail-in and negative interest rates.

As the CEC maintains, the banking system is very important, but the government should be reforming it, not forcing people to use it. This government allows the banks to recklessly gamble and put their customers and the economy at risk; yet now, as people increasingly see the consequences of this, in the danger of a new financial crisis and policy responses like bail-in, and may withdraw their deposits, it is moving to ban cash and force people to use banks, instead of reforming the banks. Let the government and your MP know this is unacceptable!

Here’s what you can do:

  1. Write a quick email or letter submission to the Treasury consultation process, which closes on 12 August, objecting to this law. Don’t think that one submission won’t make a difference—we are going to generate hundreds or even thousands, not to “convince” Treasury, but to send a message to the government and Parliament that the public won’t accept this!

Email: blackeconomy@treasury.gov.au with the subject line:
Submission: Exposure Draft—Currency (Restrictions on the Use of Cash) Bill 2019

Address written submissions to:
Manager
Black Economy Division
Langton Cres
Parkes ACT 2600

  1. Contact your local MP (and your Senators if you can), by email, phone or in person, informing them about this law (there’s a real chance they don’t know), and demanding they oppose it. You could forward this release asking them to watch the Adams-North video, and the CEC’s press release from yesterday: Morrison is banning cash so Australians can’t escape bail-in, negative interest rates. Your email or call will be one of many that forces them to recognise the public is angry about this.
  2. Sign the CEC’s petition: Hands off our banks deposits—stop ‘bail-in! This is what the cash ban is really about—trapping people in the banking system so they can’t escape from “unnatural” policies like bail-in and negative rates. If we can force the government to scrap the cash ban law, they’ll have to start looking at real reforms for the banks, like the CEC’s Glass-Steagall bill to separate banks with deposits from speculation, the Banking System Reform (Separation of Banks) Bill 2019.

Click here for a free copy of the latest issue of the Australian Alert Service.

Click here to join the CEC as a member.

Click here to refer others to receive regular email updates from the Citizens Electoral Council of Australia.

Headlines & Updates for November 19, 2018 [videos] ~ November 19, 2018


These people are so predictable and never deviate from the playbook. “Racism” is their mantra. They wield the word like a weapon.

Brenda Snipes Blames Racism for Widespread Backlash Against Her — Not Her Incompetence


X22 Report… updates from Sunday, November 18

They All Know, Part Of The Plan, One Step Closer To The Central Bank Removal – Episode 1718a

Think Projection, Time Is Up, Haiti Op Underway [C]? – Episode 1718b


Remember those legendary FEMA barges that steamed off to Hawai’i last summer? They’re back in the news. Is this part of the the ‘fear porn’ we were warned about or…?


Multiple anonomalies continue… still unexplained. The triangle craft are not hiding, and that “fake alien invasion” continues to hang over our heads.

SpaceX has another  “delay”, they claim. Today is a no go. Eyes to the skies.

SpaceX Delays Historic Third Launch of Used Rocket (and Its Flock of Satellites)


A reader notified us of the following, saying it’s a money-grabbing scam by the elite. Sounds like it. Just a warning to use your highest discernment. Thanks, C.

The elite is trying to steal more money, while pretending that it’s going to redistribute it! Sponsored ads of some facebook page (called ReadHeroes) just create October 3rd 2018, are appearing, claiming to have a software (a transaction Bot for crypto and stocks) developed by Elon Musk saying that it distributes the wealth from th super rich 0.1% to the other 99.9%. The site is a complete scam! You gotta warn people. BitcoinCode is a scam.

Late Headlines for November 14, 2018: The Plan Unfolds [videos] ~ November 14, 2018


It sounds like some folks are questioning the validity of QAnon and the White Hats because there have been no arrests (that we know of).

I also hear many patriots who are perfectly comfortable—as I am—with what is unfolding. Either you’re on board or you’re not, I guess. If you don’t trust your instincts and intuition then I can see how the optics would be disconcerting.

The “big picture” is so much bigger than most people know. The scope of what is transpiring on our planet extends beyond the planet—on a galactic scope. Interstellar. Multiversal. Most of our news doesn’t involve those aspects because the general public is not educated about those realms and it would be meaningless to go there. Their eyes would glaze over and “conspiracy theory” would spring to mind. It was difficult enough to get them to acknowledge the corruption in their governments.

The problems on our planet don’t stem from issues within Humanity; they are based on extraterrestrial and non-terrestrial interference and control and the militaries and governments of the world are well aware of this. This is not just a war for control, it’s a battle of good versus evil; a spiritual war involving aspects we cannot mention without opening a whole can of worms.

Bottom line, we have so much more help than we can expound on in a little blog or video. Trust us—we are in good hands. It’s hardest for those of us who understand the vastness of this because it’s so rare for anyone to address all the aspects. We have positive forces on the planet and off who have coordinated a massive, decades-long effort to free us from the tyranny and manipulation. We have things to sort out, but basically we’ve already won, and that is why QAnon and the White Hats are pleased with how the election went.

Q said on Nov. 12 that something big is about to drop. I think it needs to. Timing is everything—and The People who are now awake are not happy and hopefully President Trump will not only tell America what is going on, but will do something to stem the flow of American blood as innocent people are lost to the psychopaths trying to scramble back to safe footing and regain control of the country. The New World Order is being systematically dismantled by 99% of the world. They don’t have a hope in hell and they’re too programmed, lied to, greedy, and stupid to surrender.

President Trump has now called for Brenda Snipes to be fired. This, after she recently said she feels it’s time she “moved on”. (Left her job.) She’s a smart cookie.

Fox News Files Brief Supporting CNN’s Lawsuit Against the White House

I don’t think we’ve talked about the election fraud/rigging/corruption enough,lol, so I’m including this excellent video with plenty of evidence.

There’s some very telling footage here about the election corruption, particularly in Broward County, FLA where Congressman Matt Gaetz himself went to the elections officials and he says he believes those in charge are either too stupid or too corrupt to run the process the way the American people deserve. Matt tells us armed security guards prevented him from taking video of “something” being loaded in and out of trucks at the Broward County offices. Transparency? What transparency? These people are unbelievable stupid. In case you missed it on Hannity (Fox News), that clip is below.

The video from Black Conservative Patriot also shows protestors who are aware what is going on and they demand authorities adequately and appropriately deal with the corrupt Brenda Snipes.

The election is so badly compromised at this point that the results should not be allowed to stand. Americans deserve a new election.

CROOKED COUNTY EMPLOYEES CAUGHT IN THE ACT OF CREATING BALLOTS!!

 


America is such a swamp…

Michael Avenatti Arrested for Felony Domestic Violence

 


DAHB0077 brings us an update on the first group of illegal immigrants to reach the Tijuana/San Diego, CA border. There’s nothing going on, really. Perhaps a diversion?

First Wave Of Migrant Caravan Arrives In San Diego As Troops Erect Barricades & Razor Fence


On the financial front, Dr. Richard Presser sent this today, which agrees with what Thomas Williams has said in past intel updates. Anything “virtual” is easily corruptible and controlled. I have never felt comfortable with Bitcoin or anything similar and am waiting to see how this all pans out.

Dr. Presser says…

I have long speculated that Bitcoin was “an inside job”.
This article gives credence to that view, and fingers the NSA. Penned last year, when Bitcoin was still on the way up, it says the following:

The NSA has the capability, the motive, and the operational capacity – they have teams of cryptographers, the biggest fastest supercomputers in the world, and they see the need.  Whether instructed by their friends at the Fed, in cooperation with their owners (i.e. Illuminati banking families), or as part of a DARPA project – is not clear and will never be known (unless a whistleblower comes forward).  In fact, the NSA employs some of the best mathematicians and cryptographers in the world.  Few know about their work because it’s a secret, and this isn’t the kind of job you leave to start your own cryptography company.

But the real smoking Gun, aside from the huge amount of circumstantial evidence and lack of a credible alternative, is the http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm

End of quote.

I commend the article to you.

Richard

 


Thomas Williams will host the regular Thursday show tomorrow with the latest financial and other intel. Listen here at Spreaker.com or here at the Think Different website. Timing is 7:30 EST, 5:30 Pacific. I’m still behind on last week’s shows.  ~ BP

 


The Central Bankers Just Pushed Back Against “The Plan” – Episode 1527a ~ March 21, 2018


Snowden reveals that the NSA has been targeting Bitcoin users and tracking their transactions. The Fed raises rates, they have just fired a shot across the bow to block the plan. The plan is in motion and Trump has started a trade war with the largest US trading partner. This has been done on purpose, China, Russia and the US are now in talks to take down the central bankers, reset the system and take the world off of the dollar and fiat currency. The take down of the global system is being pushed forward All source links to the report can be found on the x22report.com site.

What is Blockchain Technology? A Step-by-Step Guide For Beginners ~ Jan., 2018


This is another article I found on GalacticConnection.com which is really fascinating for me to read and consider. Computer technology IS the reason many are know “waking up” to their own personal level of spirituality….thank you Internet!

Interpersonal communication is now easier than ever to achieve…just stick a blog our there, or put a video on YouTube! Because mass communication is now available from a personal perspective, humanity no longer feels compelled to “play by the rules” as the rules are easily seen to be flagrantly false!

What’s the latest and greatest in the computer world? It’s called “blockchain” and this article explains how and why it is used. The biggest use today? I guess this to be the proliferation of cryptocurrancy. My mind considers cryptocurrancy to to be needed in the evolution of how value is handled, that is, cryptocurrancy (or a cashless society) is the next step before anyone can have anything via a replicator. The Illuminati may not be too fond of that idea! 🙂

So…enough of my speculation. Please watch this video to learn more about blockchain technology, think about how this will change your life, and…

InJoy!

Block Geeks

Is blockchain technology the new internet?

The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym,  Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain?

By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currencyBitcoin, the tech community is now finding other potential uses for the technology.

Bitcoin has been called “digital gold,” and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Like the internet (or your car), you don’t need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why it’s considered revolutionary. So, we hope you enjoy this, what is Blockchain guide.

 


What is Blockchain Technology?

What is Blockchain Technology? A step-by-step guide than anyone can understand

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Don & Alex Tapscott, authors Blockchain Revolution (2016)

 

 

 

A distributed database

Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.

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Information held on a blockchain exists as a shared — and continually reconciled — database. This is a way of using the network that has obvious benefits. The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.

To go in deeper with the Google spreadsheet analogy, I would like you to read this piece from a blockchain specialist.

Blockchain as Google Docs

 


What is Blockchain Technology? A step-by-step guide than anyone can understand

“The traditional way of sharing documents with collaboration is to send a Microsoft Word document to another recipient, and ask them to make revisions to it. The problem with that scenario is that you need to wait until receiving a return copy before you can see or make other changes because you are locked out of editing it until the other person is done with it. That’s how databases work today. Two owners can’t be messing with the same record at once.That’s how banks maintain money balances and transfers; they briefly lock access (or decrease the balance) while they make a transfer, then update the other side, then re-open access (or update again).With Google Docs (or Google Sheets), both parties have access to the same document at the same time, and the single version of that document is always visible to both of them. It is like a shared ledger, but it is a shared document. The distributed part comes into play when sharing involves a number of people.

Imagine the number of legal documents that should be used that way. Instead of passing them to each other, losing track of versions, and not being in sync with the other version, why can’t *all* business documents become shared instead of transferred back and forth? So many types of legal contracts would be ideal for that kind of workflow.You don’t need a blockchain to share documents, but the shared documents analogy is a powerful one.”

William Mougayar, Venture advisor, 4x entrepreneur, marketer, strategist and blockchain specialist 

Blockchain Durability and robustness

Blockchain technology is like the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network, the blockchain cannot:

  1. Be controlled by any single entity.
  2. Has no single point of failure.

Bitcoin was invented in 2008. Since that time, the Bitcoin blockchain has operated without significant disruption. (To date, any of problems associated with Bitcoin have been due to hacking or mismanagement. In other words, these problems come from bad intention and human error, not flaws in the underlying concepts.)

The internet itself has proven to be durable for almost 30 years. It’s a track record that bodes well for blockchain technology as it continues to be developed.


Ian Khan, TEDx Speaker

“As revolutionary as it sounds, Blockchain truly is a mechanism to bring everyone to the highest degree of accountability. No more missed transactions, human or machine errors, or even an exchange that was not done with the consent of the parties involved. Above anything else, the most critical area where Blockchain helps is to guarantee the validity of a transaction by recording it not only on a main register but a connected distributed system of registers, all of which are connected through a secure validation mechanism.” 

– Ian KhanTEDx Speaker | Author | Technology Futurist

 

Transparent and incorruptible

The blockchain network lives in a state of consensus, one that automatically checks in with itself every ten minutes.  A kind of self-auditing ecosystem of a digital value, the network reconciles every transaction that happens in ten-minute intervals. Each group of these transactions is referred to as a “block”. Two important properties result from this:

  1. Transparency data is embedded within the network as a whole, by definition it is public.
  2. It cannot be corrupted altering any unit of information on the blockchain would mean using a huge amount of computing power to override the entire network.

 

In theory, this could be possible. In practice, it’s unlikely to happen. Taking control of the system to capture Bitcoins, for instance, would also have the effect of destroying their value.


Vitalik Buterin, inventor of Ethereum

“Blockchain solves the problem of manipulation. When I speak about it in the West, people say they trust Google, Facebook, or their banks. But the rest of the world doesn’t trust organizations and corporations that much — I mean Africa, India, the Eastern Europe, or Russia. It’s not about the places where people are really rich. Blockchain’s opportunities are the highest in the countries that haven’t reached that level yet.”
Vitalik Buterin, inventor of Ethereum

 

 

A network of nodes

A network of so-called computing “nodes” make up the blockchain.

 

What is Blockchain Technology? A step-by-step guide than anyone can understand

Node

(computer connected to the blockchain network using a client that performs the task of validating and relaying transactions) gets a copy of the blockchain, which gets downloaded automatically upon joining the blockchain network.

 

 

 

 

Together they create a powerful second-level network, a wholly different vision for how the internet can function.

Every node is an “administrator” of the blockchain, and joins the network voluntarily (in this sense, the network is decentralized). However, each one has an incentive for participating in the network: the chance of winning Bitcoins.

Nodes are said to be “mining” Bitcoin, but the term is something of a misnomer. In fact, each one is competing to win Bitcoins by solving computational puzzles. Bitcoin was the raison d’etre of the blockchain as it was originally conceived. It’s now recognized to be only the first of many potential applications of the technology.

There are an estimated 700 Bitcoin-like cryptocurrencies(exchangeable value tokens) already available. As well, a range of other potential adaptations of the original blockchain concept are currently active, or in development.

 


Larry Summers, Former US Secretary of the Treasury

“Bitcoin has the same character a fax machine had. A single fax machine is a doorstop. The world where everyone has a fax machine is an immensely valuable thing.”
Larry Summers, Former US Secretary of the Treasury

 

 

 

 

The idea of decentralization

By design, the blockchain is a decentralized technology.

Anything that happens on it is a function of the network as a whole. Some important implications stem from this. By creating a new way to verify transactions aspects of traditional commerce could become unnecessary. Stock market trades become almost simultaneous on the blockchain, for instance — or it could make types of record keeping, like a land registry, fully public. And decentralization is already a reality.

A global network of computers uses blockchain technology to jointly manage the database that records Bitcoin transactions. That is, Bitcoin is managed by its network, and not any one central authority. Decentralization means the network operates on a user-to-user (or peer-to-peer) basis. The forms of mass collaboration this makes possible are just beginning to be investigated.


Melanie Swan, author Blockchain: Blueprint for a New Economy (2015)

“I think decentralized networks will be the next huge wave in technology.”
Melanie Swan, author Blockchain: Blueprint for a New Economy (2015)

 

 

Who will use the blockchain?

As web infrastructure, you don’t need to know about the blockchain for it to be useful in your life.

Currently, finance offers the strongest use cases for the technology. International remittances, for instance. The World Bank estimates that over $430 billion US in money transfers were sent in 2015. And at the moment there is a high demand for blockchain developers.

The blockchain potentially cuts out the middleman for these types of transactions.  Personal computing became accessible to the general public with the invention of the Graphical User Interface (GUI), which took the form of a “desktop”. Similarly, the most common GUI devised for the blockchain are the so-called “wallet” applications, which people use to buy things with Bitcoin, and store it along with other cryptocurrencies.

Transactions online are closely connected to the processes of identity verification. It is easy to imagine that wallet apps will transform in the coming years to include other types of identity management.


What is Blockchain Technology? A step-by-step guide than anyone can understand

“Online identity and reputation will be decentralized. We will own the data that belongs to us.”
William Mougayar, author The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology (2016)

 

The Blockchain & Enhanced security

By storing data across its network, the blockchain eliminates the risks that come with data being held centrally.

Its network lacks centralized points of vulnerability that computer hackers can exploit. Today’s internet has security problems that are familiar to everyone. We all rely on the “username/password” system to protect our identity and assets online. Blockchain security methods use encryption technology.

The basis for this are the so-called public and private “keys”. A “public key” (a long, randomly-generated string of numbers) is a users’ address on the blockchain. Bitcoins sent across the network gets recorded as belonging to that address. The “private key” is like a password that gives its owner access to their Bitcoin or other digital assets. Store your data on the blockchain and it is incorruptible. This is true, although protecting your digital assets will also require safeguarding of your private key by printing it out, creating what’s referred to as a paper wallet.

 

 

A second-level network

With blockchain technology, the web gains a new layer of functionality.

Already, users can transact directly with one another — Bitcoin transactions in 2016 averaged over $200,000 US per day. With the added security brought by the blockchain new internet business are on track to unbundle the traditional institutions of finance.

Goldman Sachs believes that blockchain technology holds great potential especially to optimize clearing and settlements, and could represent global savings of up to $6bn per year.


george-howard-associate-professor-brown-universit

“2017 will be a pivotal year for blockchain tech. Many of the startups in the space will either begin generating revenue – via providing products the market demands/values – or vaporize due to running out of cash. In other words, 2017 should be the year where there is more implementation of products utilizing blockchain tech, and less talk about blockchain tech being the magical pixie dust that can just be sprinkled atop everything. Of course, from a customers viewpoint, this will not be obvious as blockchain tech should dominantly be invisible – even as its features and functionality improve peoples’/business’ lives. I personally am familiar with a number of large-scale blockchain tech use cases that are launching soon/2017. This implementation stage, which 2017 should represent, is a crucial step in the larger adoption of blockchain tech, as it will allow skeptics to see the functionality, rather than just hear of its promise.”

–  George Howard, Associate Professor Brown University, Berklee College of Music and Founder of George Howard Strategic

 

 

The Blockchain a New Web 3.0?

The blockchain gives internet users the ability to create value and authenticates digital information. What will new business applications result?

  • Smart contracts

    Distributed ledgers enable the coding of simple contracts that will execute when specified conditions are met. Ethereum is an open source blockchain project that was built specifically to realize this possibility. Still, in its early stages, Ethereum has the potential to leverage the usefulness of blockchains on a truly world-changing scale.

    At the technology’s current level of development, smart contracts can be programmed to perform simple functions. For instance, a derivative could be paid out when a financial instrument meets certain benchmark, with the use of blockchain technology and Bitcoin enabling the payout to be automated.

  • The sharing economy

    With companies like Uber and AirBnB flourishing, the sharing economy is already a proven success. Currently, however, users who want to hail a ride-sharing service have to rely on an intermediary like Uber. By enabling peer-to-peer payments, the blockchain opens the door to direct interaction between parties — a truly decentralized sharing economy results.

    An early example, OpenBazaar uses the blockchain to create a peer-to-peer eBay. Download the app onto your computing device, and you can transact with OpenBazzar vendors without paying transaction fees. The “no rules” ethos of the protocol means that personal reputation will be even more important to business interactions than it currently is on eBay.

  • Crowdfunding

    Crowdfunding initiatives like Kickstarter and Gofundme are doing the advance work for the emerging peer-to-peer economy. The popularity of these sites suggests people want to have a direct say in product development. Blockchains take this interest to the next level, potentially creating crowd-sourced venture capital funds.

    In 2016, one such experiment, the Ethereum-based DAO (Decentralized Autonomous Organization), raised an astonishing $200 million USD in just over two months. Participants purchased “DAO tokens” allowing them to vote on smart contract venture capital investments (voting power was proportionate to the number of DAO they were holding). A subsequent hack of project funds proved that the project was launched without proper due diligence, with disastrous consequences.  Regardless, the DAO experiment suggests the blockchain has the potential to usher in “a new paradigm of economic cooperation.”

  • Governance

    By making the results fully transparent and publicly accessible, distributed database technology could bring full transparency to elections or any other kind of poll taking. Ethereum-based smart contracts help to automate the process.

    The app, Boardroom, enables organizational decision-making to happen on the blockchain. In practice, this means company governance becomes fully transparent and verifiable when managing digital assets, equity or information.

  • Supply chain auditing

    Consumers increasingly want to know that the ethical claims companies make about their products are real. Distributed ledgers provide an easy way to certify that the backstories of the things we buy are genuine. Transparency comes with blockchain-based timestamping of a date and location — on ethical diamonds, for instance — that corresponds to a product number.

    The UK-based Provenance offers supply chain auditing for a range of consumer goods. Making use of the Ethereum blockchain, a Provenance pilot project ensures that fish sold in Sushi restaurants in Japan has been sustainably harvested by its suppliers in Indonesia.

  • File storage

    Decentralizing file storage on the internet brings clear benefits. Distributing data throughout the network protects files from getting hacked or lost.

    Inter Planetary File System (IPFS) makes it easy to conceptualize how a distributed web might operate. Similar to the way a bittorrent moves data around the internet, IPFS gets rid of the need for centralized client-server relationships (i.e., the current web). An internet made up of completely decentralized websites has the potential to speed up file transfer and streaming times. Such an improvement is not only convenient. It’s a necessary upgrade to the web’s currently overloaded content-delivery systems.

  • Prediction markets

    The crowdsourcing of predictions on event probability is proven to have a high degree of accuracy. Averaging opinions cancels out the unexamined biases that distort judgment. Prediction markets that payout according to event outcomes are already active. Blockchains are a “wisdom of the crowd” technology that will no doubt find other applications in the years to come.

    Still, in Beta, the prediction market application Augur makes share offerings on the outcome of real-world events. Participants can earn money by buying into the correct prediction. The more shares purchased in the correct outcome, the higher the payout will be. With a small commitment of funds (less than a dollar), anyone can ask a question, create a market based on a predicted outcome, and collect half of all transaction fees the market generates.

  • Protection of intellectual property

    As is well known, digital information can be infinitely reproduced — and distributed widely thanks to the internet. This has given web users globally a goldmine of free content. However, copyright holders have not been so lucky, losing control over their intellectual property and suffering financially as a consequence. Smart contracts can protect copyright and automate the sale of creative works online, eliminating the risk of file copying and redistribution.

    Mycelia uses the blockchain to create a peer-to-peer music distribution system. Founded by the UK singer-songwriter Imogen Heap, Mycelia enables musicians to sell songs directly to audiences, as well as license samples to producers and divvy up royalties to songwriters and musicians — all of these functions being automated by smart contracts. The capacity of blockchains to issue payments in fractional cryptocurrency amounts (micropayments) suggests this use case for the blockchain has a strong chance of success.

  • Internet of Things (IoT)

    What is the IoT? The network-controlled management of certain types of electronic devices — for instance, the monitoring of air temperature in a storage facility. Smart contracts make the automation of remote systems management possible. A combination of software, sensors, and the network facilitates an exchange of data between objects and mechanisms. The result increases system efficiency and improves cost monitoring.

    The biggest players in manufacturing, tech and telecommunications are all vying for IoT dominance. Think Samsung, IBM and AT&T. A natural extension of existing infrastructure controlled by incumbents, IoT applications will run the gamut from predictive maintenance of mechanical parts to data analytics, and mass-scale automated systems management.

  • Neighbourhood Microgrids

    Blockchain technology enables the buying and selling of the renewable energy generated by neighborhood microgrids. When solar panels make excess energy, Ethereum-based smart contracts automatically redistribute it. Similar types of smart contract automation will have many other applications as the IoT becomes a reality.

    Located in Brooklyn, Consensys is one of the foremost companies globally that is developing a range of applications for Ethereum. One project they are partnering on is Transactive Grid, working with the distributed energy outfit, LO3. A prototype project currently up and running uses Ethereum smart contracts to automate the monitoring and redistribution of microgrid energy. This so-called “intelligent grid” is an early example of IoT functionality.

  • Identity management

    There is a definite need for better identity management on the web. The ability to verify your identity is the lynchpin of financial transactions that happen online. However, remedies for the security risks that come with web commerce are imperfect at best. Distributed ledgers offer enhanced methods for proving who you are, along with the possibility to digitize personal documents. Having a secure identity will also be important for online interactions — for instance, in the sharing economy. A good reputation, after all, is the most important condition for conducting transactions online.

    Developing digital identity standards is proving to be a highly complex process. Technical challenges aside, a universal online identity solution requires cooperation between private entities and government. Add to that the need to navigate legal systems in different countries and the problem becomes exponentially difficult. E-Commerce on the internet currently relies on the SSL certificate (the little green lock) for secure transactions on the web. Netki is a startup that aspires to create an SSL standard for the blockchain. Having recently announced a $3.5 million seed round, Netki expects a product launch in early 2017.

  • AML and KYC

    Anti-money laundering (AML) and know your customer (KYC) practices have a strong potential for being adapted to the blockchain. Currently, financial institutions must perform a labour intensive multi-step process for each new customer. KYC costs could be reduced through cross-institution client verification, and at the same time increase monitoring and analysis effectiveness.

    Startup Polycoin has an AML/KYC solution that involves analysing transactions. Those transactions identified as being suspicious are forwarded on to compliance officers. Another startup Tradle is developing an application called Trust in Motion (TiM). Characterized as an “Instagram for KYC”, TiM allows customers to take a snapshot of key documents (passport, utility bill, etc.). Once verified by the bank, this data is cryptographically stored on the blockchain.

  • Data management

    Today, in exchange for their personal data people can use social media platforms like Facebook for free. In future, users will have the ability to manage and sell the data their online activity generates. Because it can be easily distributed in small fractional amounts, Bitcoin — or something like it — will most likely be the currency that gets used for this type of transaction.

    The MIT project Enigma understands that user privacy is the key precondition for creating of a personal data marketplace. Enigma uses cryptographic techniques to allow individual data sets to be split between nodes, and at the same time run bulk computations over the data group as a whole. Fragmenting the data also makes Enigma scalable (unlike those blockchain solutions where data gets replicated on every node). A Beta launch is promised within the next six months.

  • Land title registration

    As Publicly-accessible ledgers, blockchains can make all kinds of record-keeping more efficient. Property titles are a case in point. They tend to be susceptible to fraud, as well as costly and labour intensive to administer.

    A number of countries are undertaking blockchain-based land registry projects. Honduras was the first government to announce such an initiative in 2015, although the current status of that project is unclear. This year, the Republic of Georgia cemented a deal with the Bitfury Group to develop a blockchain system for property titles. Reportedly, Hernando de Soto, the high-profile economist and property rights advocate, will be advising on the project. Most recently, Sweden announced it was experimenting with a blockchain application for property titles.

  • Stock trading

    The potential for added efficiency in share settlement makes a strong use case for blockchains in stock trading. When executed peer-to-peer, trade confirmations become almost instantaneous (as opposed to taking three days for clearance). Potentially, this means intermediaries — such as the clearing house, auditors and custodians — get removed from the process.

    Numerous stock and commodities exchanges are prototyping blockchain applications for the services they offer, including the ASX (Australian Securities Exchange), the Deutsche Börse (Frankfurt’s stock exchange) and the JPX (Japan Exchange Group). Most high profile because the acknowledged first mover in the area, is the Nasdaq’s Linq, a platform for private market trading (typically between pre-IPO startups and investors). A partnership with the blockchain tech company Chain, Linq announced the completion of it its first share trade in 2015. More recently, Nasdaq announced the development of a trial blockchain project for proxy voting on the Estonian Stock Market.

 

 


Judd Bagley: What is Blockchain

“2016 was the year in which blockchain theory achieved general acceptance, but remained in theory, with the big players lingering around the hoop waiting to see who would take the first shot. As the year comes to an end, blockchain technology is tantalizingly close to turning the corner and entering the realm of small-scale commercial ability. Overall, 2017 is going to be the year of the very well-considered and well-funded proof of concept, with a few projects achieving revenue positive status. Venture investment is going to continue to be substantial but less than we saw in 2016 and 2015. I’d predict one or two exits by acquisition.” 

– Judd Bagley  Director of Communications at Overstock.com and Chief Evangelist at t0.com