The mobility ecosystem with user stories – used at BlockchainedMobility Hackathon 2018
Blockchain is a foundational technology, an underlying technology layer for applications built on top of it, allowing them to share a joint database and a ledger. It provides realtime access to an immutable and consistent data set. Based on our experiences launching the Building Blocks project on behalf of the United Nation’s World Food Programme (WFP) in May 2017, we launched its RAAY project in early 2018.
RAAY’s goal is to become a new operating system for banking. Since the finance industry hasn’t changed much during the last decades, and financial crises followed by new stern regulatory frameworks have made banking even harder, banks are faced with a multitude of challenges, from a degenerated trust to inflexible and overcharged IT infrastructures and processes. For the RAAY team, blockchain provides the ideal basis for renewing trust and making IT more efficient for banking. Therefore, RAAY has been working on a new operating system to enable players of the finance industry with a blockchain-based technology layer to build lean, efficient, trust-less applications on top of it.
RAAY is partnering with a German bank to create a blockchain-based token representing the ownership of a German real estate fund. The token is part of an immutable, trust-less and decentralised system built specifically for the new RAAY operating system for banking. The token and the auxiliary system achieves an improved model for ownership of real estate by applying blockchain technology, secure and scalable identification solutions and tried-and-tested account management software.
The token is characterised by a smart contract defining key functionality (transfers, rights, etc.) and listing properties (ownership, price, fund information, etc.). The token smart contract is linked to another smart contract which manages the different tokens and allows users to interact with various tokens in a simple way. Ownership of a token is proven by the possession of a private key. The corresponding public key is publicly listed in the smart contract. Building on the immutability and security of blockchain technology allows any token holder to prove ownership to anyone, in real-time, without doubt.
The auxiliary system contains three main components:
- Application for Tokens and
The Identification takes place according to applicable KYC-regulations with the addition of the creation of a blockchain identity, in effect a public-private key pair. The secret private key is much like a password and can be either downloaded to a secure offline-storage by the client or can be stored in a so-called cold wallet managed by a future RAAY-bank entity. If investment amounts exceed a certain limit, tokens are stored in a multi-signature wallet for additional security.
The Application for Tokens is a protocol for converting any type of funds (fiat or cryptocurrency) into tangible asset tokens. It requires an account with a depository bank for fiat currencies.
The Fund-Connection is the direct correspondence between existing tokens and shares of the fund in question. This ensures the validity of each claim that a token holder may have, on any ownership/access to dividends from the fund.
This is the first step in RAAY’s strategy to create the new operating system for banking. It is a needed use case that will be operational and reduce costs for the fund deploying it. By going stepwise from one application area to another, RAAY will build a modular and configurable OS for banking that removes inefficiencies regardless whether the partner is a fund, a bank or a fintech-company.
THE BLOCKCHAINED MOBILITY HACKATHON @DAHO.AM
Compete and collaborate: The Blockchained Mobility Hackathon brings together the biggest players in Europe’s mobility ecosystem with the brightest independent developer teams for 2.5 days of blockchain mobility hacking! You’ll use bleeding edge blockchain tech to imagine and build prototype solutions for a sustainable mobility ecosystem. Network and innovate in an open sandbox with industry peers! All participants will get free tickets to the DAHO.AM Tech Conference in Munich on July, 24th2018 and the hackathon winner will receive prizes to be announced at the event.
Continue reading “REGISTER NOW: The Blockchained Mobility Hackathon 2018”
Email is dead? Not really. Beside billions of exchanged emails daily, many people have returned to newsletters when looking for valuble information within specific fields of interest. Especially short and concise newsletters that don‘t overstrain the limited attentions spans of today‘s readers are a good alternative to the necessity to look for valuable news yourself.
Our new Datarella Blockchain Newsletter – in German language – offers exactly what the interested reader is looking for: on a weekly basis, you can read a curated selection of the most relevant news in the blockchain ecosystem.
Continue reading “New: The Datarella Blockchain Weekly Newsletter”
Big news over at Crowdstart: with CROWDVOTE we will provide a community driven opinion forming and decision making model that follows on the present centralized distribution model of CrowdstartCoins XSC.
Starting with our IOTA hackathon in Gdansk, in November 2017, we have distributed CrowdstartCoins XSC to over 2,000 developers who have added valuable code to the blockchain ecosystem. As promised, we at Crowdstart do not think that we are the best people to decide who is eligible to receive CrowdstartCoins XSC, but rather it should be the responsibility of the entire blockchain community to form opinions and make decisions that define the distribution of XSC.
CROWDVOTE to be launched at DAHOAM Tech Conference
We announced our plan of developing a liquid democracy model to enable that kind of a decentralized decision making process last November. Today, we are very happy to announce that we will launch the first version of CROWDVOTE at DAHOAM Tech Conference, on July, 24.
With CROWDVOTE, members of the blockchain community will be able to propose and vote for blockchain projects supporting them to receive their deserved CrowdstartCoins XSC. In the first version, there still will be some centralized elements; e.g. there will be a set of rules that define the proposal and voting mechanism. A framework of rules has to be implemented from the start – otherwise the model would create more confusion than joy about the new decision making opportunities. Our plan, however, is to go further and also decentralise these aspects. In future versions of CROWDVOTE, the community will be able to define the rules for proposing and voting for projects by themselves.
Want to participate and help CROWDVOTE to be developed?
If you are generally interested in decentralise decision making processes and liquid democracy, please feel invited to participate and support the development of CROWDVOTE. Send us an email to crowdvote (at) crowdstart (dot) capital.
Here’s a quick overview of four of the newest crypto wallets with built-in DAPP browsers
If ethereum is to realize its promise as the “world computer” we’re going to need more advanced wallets. Mobile has arguably overtaken desktop as the dominant paradigm for interacting on the web but most decentral applications aren’t mobile ready. DAPPs promise to be our connection to voting, governance and the backbone of the web’s future. There are lots of mobile wallets available now but in the coming world, just sending tokens and crypto back and forth won’t be enough.
Today we’re taking a quick look at four bleeding-edge wallets which combine a DAPP browser with a mobile crypto wallet. Since development in this area moves very very fast we’re not going to make any kind of a ranking. Instead, we’ll list a few key features where each app shines.
The Cipher Browser has a solid DAPP browser which handles the login process for early DAPPs such as cryptokitties.co and leeroy.io as though one was using metamask. The Touch ID integration is good and approving transactions is pain-free. In addition, adding custom ERC20 tokens to the app is quick and straightforward if you are someone who knows their way around etherscan and who’s not afraid to find out how many digits a token contract allows.
Who’s it for? Old-school crypto nerds who want to keep it simple.
The open source Toshi browser is not only a wallet and a DAPP browser but also an encrypted chat platform. It uses a chatbot for the initial user journey which in our experience is an either a “you love it or you hate it” kind of thing. After that, one can access an app store like DAPP browser, a public chat client based on identities tied to ethereum addresses and a wallet supporting both fungible and non-fungible ethereum assets.
Toshi uses the Signal protocol by Whisper Systems for chat and the uPort identity protocol to store user profiles. All in all, it’s pretty forward thinking stuff if a bit cluttered at times. There’s also one weakness for industrial applications. Developers and other geeks may want to work on more than one network (Testnet, POA etc.) If that’s your use case, this one isn’t for you.
Who’s it for? Social crypto nerds who love trying out new stuff.
Status takes the social / chat idea from Toshi to the next level. In Status, one finds not only contacts in the chat interface but also DAPPs. As in Toshi, setup occurs via a dialogue with a chatbot. Again this isn’t for everyone, but it’s super for people who prefer onboarding by bot.
Status defines itself as a new kind of peer-to-peer encrypted messaging and payment system rather than a DAPP browser or a wallet. Yes, it does offer those things too, but everything in the Status app is centered around chat. The idea is that people do business and transact with other people, so their communication should enable that.
Right now, status is only available as an alpha release that you can test on the testnet using Testflight (iOS). There’s a very lively Discord community if you want to jump in and join the dialogue.
Who’s it for? Do you dream of native ethereum transactions while using whatsapp? Then this app is for you!
Like Cipher, Trust Wallet offers a more conventional experience. There’s a browser tab, a transactions tab, a tokens tab, and settings. Everything is pretty self-explanatory. The Web3 integration in the DAPP browser is great, so log in and transaction approval are simple. Also, the developer is working with decentral exchanges such as Kyber Network to make sure the DAPP creators are building stuff that is actually usable on mobile.
Also, this open source app is the only one on our list that may be appropriate for use in industrial applications. This is due to the fact that the Trust wallet allows the user to switch the network and that a proof-of-authority network connection is possible.
Who’s it for? Crypto industrialists, exchange integrators, open source forkers and friends of straightforward wallet tech.
Confronted with new technologies, market participants quite often choose to become members of some kind of group, organisation, alliance or initiative. Same with blockchain technology. In this meetup, we will hear about some practical experiences of members of the Ethereum Enterprise Alliance and B3i, the blockchain initiative of insurers.
Our first talk: Oliver Volk, Allianz SE
We’re happy to have Oliver Volk, Allianz Re Blockchain Expert and B3i Representative, to present his perspective.
Continue reading “Blockchain Meetup 11: Does Blockchain Enable Co-opetition? On Consortia, Alliances And Initiatives”
Today, our Building Blocks project we launched together with the World Food Programme Accelerator on 1 May 2107, was discussed at the World Economic Forum in Davos. In the video below you see UN World Food Programme’s Robert Opp mentioning Building Blocks on a panel with his colleagues Kevin Jenkins of WorldVision and Tara Nathan of Mastercard.
We are proud to support FC Bayern, Germany’s leading soccer club on their Hackathon:
Thinking of fan experiences and services in a new way. Testing and applying innovative and new technologies within and outside the stadium. Bringing the emotional connection of our club to life even more through technology and digital infrastructure. Learning from each other and creating new things together.
For the first time, FC Bayern Munich will host, together with its fans, partners, leading experts, start-ups and students from all over the world, the #FCBayernHackDays to learn together, face new challenges and to research new innovative possibilities.
Link to the event: hackdays.fcbayern.com
On December 6, 2017, game company and distributor Valve announced that its gaming platform Steam is no longer accepting Bitcoin as a payment method. The company explained that Bitcoin transaction fees have gone up to nearly $20 per transaction last week, “compared to roughly $0.20 when we initially enabled Bitcoin.”
At the same time, CryptoKitties burned up 15% of Ethereum’s gas, causing a mid-level congestion and increasing in-game fees.
Since we have been working on some ICO projects over the last months, focusing on cryptoeconomics and token design, we felt the need for a model that would allow a high-yield return for investors on the one hand, whilst guaranteeing the stability and a proper functioning of the specific application(s) at the same time.
Two Token Model TTM Thesis
Decentralized networks need a token model that
- guarantees a stable cryptoeconomic mechanism to exchange assets, services, time and money between peers, and, at the same time,
- allows investors to reap large economic benefits, and, therefore
- allows an overall story of combining a cooperative/post-capitalist model with a pure capitalist play by technically separating both aspects through the representation of two dedicated tokens.
A) Two-Token Model
The network features 2 different types of tokens:
a) a core token (CT) that is tradable at crypto-exchanges,
b) an application token (AT) (per application)
The only function of the CT is that of a currency. In all of the network’s potential applications, there is one overarching CT.
The AT is designed depending on the respective application’s requirements. It is the only token that allows the usage of the respective application. It is not listed at any exchange. Potential listings of ATs probably could not be prevented technically, but by regulation: The network defines the listing of AT’s as not allowed and will exclude applications that behave otherwise. Organizers of applications that already have a token will be offered to exchange their tokens for AT. Additionally, they can be awarded CT depending on their applications’ asset values.
B) Token Issuance Mechanism
Initially, there will be two events that happen at the same time:
- SAFT of CT to (accredited) investors
- One-time distribution of (free) AT to interested potential network application users (comparable to a basic income)
The Token Story
A (revenue-driven, high-yield) SAFT will finance the development of the network and serve as the initial AT supply of the network. Within the first applications running, AT holders can earn additional AT, and, directly derived from that, additional CT. The intensity of use and supply of AT represents the intrinsic value of a CT.
This model of a clear, technical separation into – and combination of – a speculative and an application part should serve the initially conflicting interests of both categories of the network‘s stakeholders: the potentially application-interested majority of AT holders and the potentially solely commercially driven and high-yield-driven investors who hold and trade the CT.
Every app token holder (ATH) will receive CT’s additionally to their AT’s, if the intensity of use of the application reaches a certain threshold. As long as the intensity of use is above this threshold, the ATH will receive additional CT’s, scaling with their intensity of use. When the intensity of use sinks below the threshold, there will be no CT’s awarded further on.
Definition of Intensity of Use IoU Criteria
As mentioned, ATH are being rewarded CT depending on their intensities of use of the application(s). There are several aspects of defining an “intensity of use (IoU)” in a good way. First, an ATH could use a specific application very frequently. This could add to her IoU. Then, the ATH could move huge assets within an application. Again, this could add to her IoU. Further on, an ATH could use an application in a way that leads to a higher IoU of another application. This would lead to trans-application elements of the IoU’s algorithm. Then, there are further aspects, s.a. hoarding/inflation, etc..
The definition of the IoU algorithm is one key aspect of this token model. On the one hand, it seemingly is the most complex problem to solve for the network. On the other hand it offers the opportunity to create one single algorithm that is completely variable in design and can be tweaked throughout the lifespan of the network without any need for changing the structure.
Due to the fact that the AT is not tradable, and the IoU algorithm prevents the ATH from hoarding and other unintended use, it can be regarded as stable.
The CT, in turn, is a tradable token that entails no other rights than being exchangeable with other currencies. The prize of the CT will be defined by market forces alone. This pure market-driven nature of the CT, combined with the value(s) of ATs, makes the network’s model highly attractive for application-focused users, as well as for investors.
We have intensely discussed the TTM within our network, and we have not found severe weaknesses that could prove to become showstoppers. However, we invite you to prove otherwise! Please provide us with your feedback on TTM – thank you!