I clarify the core elements of cryptocurrency and outline a different approach to designing such currencies rooted in biomimicry
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Beyond Blockchain: Simple Scalable Cryptocurrencies - The World of Deep Wealth - Medium - 0 views
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This post outlines a completely different strategy for implementing cryptocurrencies with completely distributed chains
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we are interested in the resilience that comes from building a rich ecosystem of interoperable currencies
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Holdings are electronic and only exist and operate by virtue of a community’s agreement about how to interpret digital bits according to rules about operation and accounting of the currency.
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Specifically, access, issuance, transaction accounting, rules & policies, should be collectively visible, known, and held.
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This cryptographic structure is used to enable a variety of people to host the data without being able to alter it.
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there must be a way to associate these bits with some kind of account, wallet, owner, or agent who can use them
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Other things that many take for granted in blockchains may not be core but subject to decisions in design and implementation, so they can vary between implementations
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does not have to be money. It may be a reputation currency, or data used for identity, or naming, etc
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Then you must tackle the problem of always tracking which coins exist, and which have been spent. That is one approach — the one blockchain takes.
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You might optimize for anonymity if you think of cryptocurrency as a tool to escape governments, regulations, and taxes.
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if you want to establish and manage membership in new kinds of commons, then identity and accountability for actions may turn out to be necessary ingredients instead of anonymity.
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In the case of the MetaCurrency Project, we are trying to support many use cases by building tools to enable a rich ecosystem of communities and current-sees (many are non-monetary) to enhance collective intelligence at all scales.
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Managing consensus about a shared reality is a central challenge at the heart of all distributed computing solutions.
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If we want to democratize money by having cryptocurrencies become a significant and viable means of transacting on a daily basis, I believe we need fundamentally more scalable approaches that don’t require expensive, dedicated hardware just to participate.
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Blockchain is about managing a consensus about what was “said.” Ceptr is about distributing a consensus about how to “speak.”
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how nature gets the job done in massively scalable systems which require coordination and consistency
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Each speaker of a language carries the processes to understand sentences they hear, and generate sentences they need
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we certainly don’t carry some kind of global ledger of everything that’s ever been said, or require consensus about what has been said
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there is certainly no global ledger with consensus about the state of trillions of cells. Yet, from a single zygote’s copy of DNA, our cells coordinate in a highly decentralized manner, on scales of trillions, and without the latency or bottlenecks of central control.
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Imagine something along the lines of a Java Virtual Machine connected to a distributed version of Github
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Every time this JVM runs a program it confirms the hash of the code it is about to execute with the hash signed into the code repository by its developers
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This allows each node that intends to be honest to be sure that they’re running the same processes as everyone else. So when two parties want to do a transaction, and each can have confidence their own code, and the results that your code produces
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Then you treat it as authoritative and commit it to your local cryptographically self-validating data store
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Allowing each node to treat itself as a full authority to process transactions (or interactions via shared protocols) is exactly how you empower each node with full agency. Each node runs its copy of the signed program/processes on its own virtual machine, taking the transaction request combined with the transaction chains of the parties to the transaction. Each node can confirm their counterparty’s integrity by replaying their transactions to produce their current state, while confirming signatures and integrity of the chain
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If both nodes are in an appropriate state which allows the current transaction, then they countersign the transaction and append to their respective chains. When you encounter a corrupted or dishonest node (as evidenced by a breach of integrity of their chain — passing through an invalid state, broken signatures, or broken links), your node can reject the transaction you were starting to process. Countersigning allows consensus at the appropriate scale of the decision (two people transacting in this case) to lock data into a tamper-proof state so it can be stored in as many parallel chains as you need.
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When your node appends a mutually validated and signed transaction to its chain, it has updated its local state and is able to represent the integrity of its data locally. As long as each transaction (link in the chain) has valid linkages and countersignatures, we can know that it hasn’t been tampered with.
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If you can reliably embody the state of the node in the node itself using Intrinsic Data Integrity, then all nodes can interact in parallel, independent of other interactions to maximize scalability and simultaneous processing. Either the node has the credits or it doesn’t. I don’t have to refer to a global ledger to find out, the state of the node is in the countersigned, tamper-proof chain.
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Just like any meaningful communication, a protocol needs to be established to make sure that a transaction carries all the information needed for each node to run the processes and produce a new signed and chained state. This could be debits or credits to an account which modify the balance, or recoding courses and grades to a transcript which modify a Grade Point Average, or ratings and feedback contributing to a reputation score, and so on.
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By distributing process at the foundation, and leveraging Intrinsic Data Integrity, our approach results in massive improvements in throughput (from parallel simultaneous independent processing), speed, latency, efficiency, and cost of hardware.
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Another noteworthy observation about humans, cells, and atoms, is that each has a general “container” that gets configured to a specific use.
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Likewise, the Receptors we’ve built are a general purpose framework which can load code for different distributed applications. These Receptors are a lightweight processing container for the Ceptr Virtual Machine Host
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Ceptr enables a developer to focus on the rules and transactions for their use case instead of building a whole framework for distributed applications.
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Most people think that money is just money, but there are literally hundreds of decisions you can make in designing a currency to target particular needs, niches, communities or patterns of flow.
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the challenging task of tracking all the coins that exist to ensure there is no counterfeiting or double-spending
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You wouldn’t need to manage consensus about whether a cryptocoin is spent, if your system created accounts which have normal balances based on summing their transactions.
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In a mutual credit system, units of currency are issued when a participant extends credit to another user in a standard spending transaction
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Managing the currency supply in a mutual credit system is about managing credit limits — how far people can spend into a negative balance
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keep in mind there can be different classes of accounts. Easy to create, anonymous accounts may get NO credit limit
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What if I alter my code to give myself an unlimited credit limit, then spend as much as I want? As soon as you pass the credit limit encoded in the shared agreements, the next person you transact with will discover you’re in an invalid state and refuse the transaction.
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If two people collude to commit an illegal transaction by both hacking their code to allow a normally invalid state, the same still pattern still holds. The next person they try to transact with using untampered code will detect the problem and decline to transact.
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Hawala is a network of merchants and businessmen, which has been operating since the middle ages, performing money transfers on an honor system and typically settling balances through merchandise instead of transferring money
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To minimize key management infrastructure, each hawaladar’s public key is their address or identity on the network. To join the network you get a copy of the software from another hawaladar, generate your public and private keys, and complete your personal profile (name, location, contact info, etc.). You call, fax, or email at least 10 hawaladars who know you, and give them your IP address and ask them to vouch for you.
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Once 10 other hawaladars have vouched for you, you can start doing other transactions because the protocol encoded in every node will reject a transaction chain that doesn’t start with at least 10 vouches
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As described in the Mutual Credit section, at the time of transaction each party audits the counterparty’s transaction chain.
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Our hawala crypto-clearinghouse protocol has two categories of transactions: some used for accounting and others for routing. Accounting transactions change balances. Routing transactions maintain network integrity by recording information about hawaladar
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The final hash of all of the above fields is used as a unique transaction ID and is what each of party signs with their private keys. Signing indicates a party has agreed to the terms of the transaction. Only transactions signed by both parties are considered valid. Nodes can verify signatures by confirming that decryption of the signature using the public key yields a result which matches the transaction ID.
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As with accounting transactions, the hash of the above fields is used as the transaction’s unique key and the basis for the cryptographic signature of both counterparties.
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Remember, instead of making changes to account balances, routing transactions change a node’s local list of peers for finding each other and processing.
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It would be possible for someone to hack the code on their node to “forget” their most recent transaction (drop the head of their chain), and go back to their previous version of the chain before that transaction. Then they could append a new transaction, drop it, and append again.
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After both parties have signed the agreed upon transaction, each party submits the transaction to separate notaries. Notaries are a special class of participant who validate transactions (auditing each chain, ensuring nobody passes through an invalid state), and then they sign an outer envelope which includes the signatures of the two parties. Notaries agree to run high-availability servers which collectively manage a Distributed Hash Table (DHT) servicing requests for transaction information. As their incentive for providing this infrastructure, notaries get a small transaction fee.
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This approach introduces a few more steps and delays to the transaction process, but because it operates on independent parallel chains, it is still orders of magnitude more efficient and decentralized than reaching consensus on entries in a global ledger
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millions of simultaneous transactions could be getting processed by other parties and notaries with no bottlenecks.
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There are other solutions to prevent nodes from dropping the head of their transaction chain, but the approach of having notaries serve out a DHT solves a number of common objections to completely distributed accounting. Having access to reliable lookups in a DHT provides a similar big picture view that you get from a global ledger. For example, you may want a way to look up transactions even when the parties to that transaction are offline, or to be able to see the net system balance at a particular moment in time, or identify patterns of activity in the larger system without having to collect data from everyone individually.
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By leveraging Intrinsic Data Integrity to run numerous parallel tamper-proof chains you can enable nodes to do various P2P transactions which don’t actually require group consensus. Mutual credit is a great way to implement cryptocurrencies to run in this peered manner. Basic PKI with a DHT is enough additional infrastructure to address main vulnerabilities. You can optimize your solution architecture by reserving reserve consensus work for tasks which need to guarantee uniqueness or actually involve large scale agreement by humans or automated contracts.
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It is not only possible, but far more scalable to build cryptocurrencies without a global ledger consensus approach or cryptographic tokens.
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shared by Tiberius Brastaviceanu on 09 Jun 16
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Access control - Wikipedia, the free encyclopedia - 0 views
en.wikipedia.org/...Access_control
blockchainaccess_project wikipedia paper access passport IoPA tech
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Geographical access control may be enforced by personnel (e.g., border guard, bouncer, ticket checker)
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n alternative of access control in the strict sense (physically controlling access itself) is a system of checking authorized presence, see e.g. Ticket controller (transportation). A variant is exit control, e.g. of a shop (checkout) or a country
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access control refers to the practice of restricting entrance to a property, a building, or a room to authorized persons
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can be achieved by a human (a guard, bouncer, or receptionist), through mechanical means such as locks and keys, or through technological means such as access control systems like the mantrap.
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Historically, this was partially accomplished through keys and locks. When a door is locked, only someone with a key can enter through the door, depending on how the lock is configured. Mechanical locks and keys do not allow restriction of the key holder to specific times or dates. Mechanical locks and keys do not provide records of the key used on any specific door, and the keys can be easily copied or transferred to an unauthorized person. When a mechanical key is lost or the key holder is no longer authorized to use the protected area, the locks must be re-keyed.[citation needed] Electronic access control uses computers to solve the limitations of mechanical locks and keys. A wide range of credentials can be used to replace mechanical keys. The electronic access control system grants access based on the credential presented. When access is granted, the door is unlocked for a predetermined time and the transaction is recorded. When access is refused, the door remains locked and the attempted access is recorded. The system will also monitor the door and alarm if the door is forced open or held open too long after being unlocked
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The above description illustrates a single factor transaction. Credentials can be passed around, thus subverting the access control list. For example, Alice has access rights to the server room, but Bob does not. Alice either gives Bob her credential, or Bob takes it; he now has access to the server room. To prevent this, two-factor authentication can be used. In a two factor transaction, the presented credential and a second factor are needed for access to be granted; another factor can be a PIN, a second credential, operator intervention, or a biometric input
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There are three types (factors) of authenticating information:[2] something the user knows, e.g. a password, pass-phrase or PIN something the user has, such as smart card or a key fob something the user is, such as fingerprint, verified by biometric measurement
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Passwords are a common means of verifying a user's identity before access is given to information systems. In addition, a fourth factor of authentication is now recognized: someone you know, whereby another person who knows you can provide a human element of authentication in situations where systems have been set up to allow for such scenarios
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When a credential is presented to a reader, the reader sends the credential’s information, usually a number, to a control panel, a highly reliable processor. The control panel compares the credential's number to an access control list, grants or denies the presented request, and sends a transaction log to a database. When access is denied based on the access control list, the door remains locked.
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A credential is a physical/tangible object, a piece of knowledge, or a facet of a person's physical being, that enables an individual access to a given physical facility or computer-based information system. Typically, credentials can be something a person knows (such as a number or PIN), something they have (such as an access badge), something they are (such as a biometric feature) or some combination of these items. This is known as multi-factor authentication. The typical credential is an access card or key-fob, and newer software can also turn users' smartphones into access devices.
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An access control point, which can be a door, turnstile, parking gate, elevator, or other physical barrier, where granting access can be electronically controlled. Typically, the access point is a door. An electronic access control door can contain several elements. At its most basic, there is a stand-alone electric lock. The lock is unlocked by an operator with a switch. To automate this, operator intervention is replaced by a reader. The reader could be a keypad where a code is entered, it could be a card reader, or it could be a biometric reader. Readers do not usually make an access decision, but send a card number to an access control panel that verifies the number against an access list
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Generally only entry is controlled, and exit is uncontrolled. In cases where exit is also controlled, a second reader is used on the opposite side of the door. In cases where exit is not controlled, free exit, a device called a request-to-exit (REX) is used. Request-to-exit devices can be a push-button or a motion detector. When the button is pushed, or the motion detector detects motion at the door, the door alarm is temporarily ignored while the door is opened. Exiting a door without having to electrically unlock the door is called mechanical free egress. This is an important safety feature. In cases where the lock must be electrically unlocked on exit, the request-to-exit device also unlocks the doo
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Access control decisions are made by comparing the credential to an access control list. This look-up can be done by a host or server, by an access control panel, or by a reader. The development of access control systems has seen a steady push of the look-up out from a central host to the edge of the system, or the reader. The predominant topology circa 2009 is hub and spoke with a control panel as the hub, and the readers as the spokes. The look-up and control functions are by the control panel. The spokes communicate through a serial connection; usually RS-485. Some manufactures are pushing the decision making to the edge by placing a controller at the door. The controllers are IP enabled, and connect to a host and database using standard networks
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Semi-intelligent readers: have all inputs and outputs necessary to control door hardware (lock, door contact, exit button), but do not make any access decisions. When a user presents a card or enters a PIN, the reader sends information to the main controller, and waits for its response. If the connection to the main controller is interrupted, such readers stop working, or function in a degraded mode. Usually semi-intelligent readers are connected to a control panel via an RS-485 bus.
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Intelligent readers: have all inputs and outputs necessary to control door hardware; they also have memory and processing power necessary to make access decisions independently. Like semi-intelligent readers, they are connected to a control panel via an RS-485 bus. The control panel sends configuration updates, and retrieves events from the readers.
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Systems with IP readers usually do not have traditional control panels, and readers communicate directly to a PC that acts as a host
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Some readers may have additional features such as an LCD and function buttons for data collection purposes (i.e. clock-in/clock-out events for attendance reports), camera/speaker/microphone for intercom, and smart card read/write support
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shared by Steve Bosserman on 31 May 11
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Instead of Student Loans, Investing in Futures - NYTimes.com - 0 views
opinionator.blogs.nytimes.com/...ent-loans-investing-in-futures
risk_management investment milton_friedman human_capital
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So how do we finance something that is extremely valuable both for individuals and for society - something that, in most cases, should happen, but often won't happen because the risks are too high? The best way is to spread the risk. That's how insurance works. In Lumni's case, students share the risk with investors, who make more or less based on how well the students do. But they also share it with one another. Lumni pools its investments into funds to balance out the risks. They know that some students will run into difficulties, some will achieve average success, and some will do very well - but they don't know in advance how any individual student will fare. And students don't know this themselves. Through diversification, however, their funds can achieve stable returns. What this means is that the students who have the biggest problems benefit the most. And, in effect, those who decide to become investment bankers end up subsidizing the ones who decide to become social workers. Since a good society needs many different roles fulfilled, everyone benefits. That, at least, is the theory. Economists are skeptical about human capital contracts - which were first proposed by Milton Friedman in the 1950s - because they have many potential problems and little track record. But Lumni seems to be making them work - at least on a small scale. Whether it can succeed at a larger level remains to be seen.
InstantConference.com - Recording Download - 0 views
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shared by Tiberius Brastaviceanu on 03 May 11
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Google Apps Script - introduction - 0 views
code.google.com/...guide_events.html
google script apps Programming javascript tool tools infrastructure
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Google Apps Script provides simple event handlers and installable event handlers, which are easy ways for you to specify functions to run at a particular time or in response to an event.
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Calendar, Mail and Site are not anonymous and the simple event handlers cannot access those services.
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Installable event handlers are set on the Triggers menu within the Script Editor, and they're called triggers in this document.
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The spreadsheet containing the script does not have to be open for the event to be triggered and the script to run.
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You can connect triggers to one or more functions in a script. Any function can have multiple triggers attached. In addition, you can add trigger attributes to a function to further refine how the trigger behaves.
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When a script runs because of a trigger, the script runs using the identity of the person who installed the trigger, not the identity of the user whose action triggered the event. This is for security reasons.
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An event is passed to every event handler as the argument (e). You can add attributes to the (e) argument that further define how the trigger works or that capture information about how the script was triggered.
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an example of a function that sends email to a designated individual containing information captured by a Spreadsheet when a form is submitted.
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With Google Apps, forms have the option to automatically record the submitter's username, and this is available to the script as e.namedValues["Username"]. Note: e.namedValues are only available for Google Apps domains and not for consumer Google accounts.
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How The Blockchain Will Transform Everything From Banking To Government To Our Identities - 1 views
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The first generation of the Internet was a great tool for communicating, collaborating and connecting online, but it was not ideal for business. When you send and share information on the Internet, you’re not sending an original but a copy. That’s good for information — it means people have a printing press for information and that information becomes democratized — but if you want to send an asset, it’s a problem. If I send you $100 online, you need to be sure you have it and I don’t, and that I can’t spend the same $100 somewhere else. As a result, we need intermediaries to perform critical roles — to establish identity between two parties in a transaction, and to do all the settlement transaction logic, which includes record-keeping.
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With blockchain, for the first time, we have a new digital medium for value where anyone can access anything of value — stocks, bonds, money, digital property, titles, deeds — and even things like identity and votes can be moved, stored and managed securely and privately. Trust is not established though a third party but with clever code and mass consensus using a network. That’s got huge implications for intermediaries and businesses and society at large
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There’s an opportunity to disrupt how those organizations work. Intermediaries, though they do a good job, have a few problems — they’re centralized, which makes them vulnerable to attack or failure
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With blockchain, we can go from redistributing wealth to distributing value and opportunity value fairly a priori, from cradle to grave.
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creating a true sharing economy by replacing service aggregators like Uber with distributed applications on the blockchain
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build accountable governments through transparency, smart contracts and revitalized models of democracy.
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So there’s a strange phenomenon from the first generation of the Internet where the most important asset class that’s been created is data —and we don’t control it or own it.
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an opportunity to profoundly change the nature of the entire industry. The Starbucks transaction should be instant.
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so this is both an existential threat to the financial services industry and an historic opportunity.
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With blockchain, you could have a third entry time-stamped in a distributed ledger that could be acceptable to any relevant stakeholders from regulators to shareholders, giving you a perfect record of the truth and thus the financial health of an organization.
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Nobel-winning economist Ronald Coase argued that firms exist because transaction costs in an open market are greater than the cost of doing things inside the boundaries of the corporation.
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you can now synthesize trust on an open platform and people who’ve never met can trust each other to do certain things. So this results in a whole number of new business models
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It turns out the Internet of Everything needs a Ledger of Everything, because a lightbulb buying power from your neighbor’s solar panel definitely won’t use banks or the Visa network
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Right now, governments take tax revenue from corporations, individuals, licenses and so on. All of that can change. We can first of all have transparency in a radical sense because sunlight is the best disinfectant. Secondly, we can open up governments in a different sense of sharing data.
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governments can enable self-organization to occur in society where companies, civil society organizations, NGOs, academics, foundations, and government agencies and individual citizens ought to use this data to self-organize and create what we used to call services or forms of public value. The third one has to do with the relationship between citizens and their governments.
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Electronic voting won’t be delivered by traditional server technology because it won’t be trusted by citizens
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If not Global Captalism - then What? - 0 views
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I posit an optimistic view of the potential for Society from the emergence of a new and “Open” form of Capitalism.
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‘Enterprise’ is defined as ‘any entity within which two or more individuals create, accumulate or exchange Value”.
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Pirsig’s approach Capital may be viewed as “Static” Value and Money as “Dynamic” Value. “Transactions” are the “events” at which individuals (Subjects) interact with each other or with Capital (both as Objects) to create forms of Value and at which “Value judgments” are made based upon a “Value Unit”.
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The result of these Value Events /Transactions is to create subject/object pairings in the form of data ie Who “owns” or has rights of use in What,
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It, too, may then be defined in a subject/object pairing through the concept of “intellectual property”.
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“The purpose of money is to facilitate barter by splitting the transaction into two parts, the acceptor of money reserving the power to requisition value from any trader at any time
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The monetary process is a dynamic one involving the creation and recording of obligations as between individuals and the later fulfilment of these obligations
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Static Value – which only becomes “Money”/ Dynamic Value when exchanged in the transitory Monetary process.
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the practice of Lending involves an incomplete exchange in terms of risk and reward: a Lender, as opposed to an Investor, has no interest in the outcome of the Loan, and requires the repayment of Principal no matter the ability of the Borrower to repay.
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"The Lender has no interest in the outcome of the loan", i.e doesn't care what happens in the end. The Lender ins not interested in the economical outcome of the Lender-Loner relation. So in fact there is no real risk sharing. the only risk for the Lender is when the Loner doesn't pay back, which is not really a risk... In fact it is a risk for the small bank, who has to buy money from the central bank, but not for the central bank.
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an “Object” circulating but rather a dynamic process of Value creation and exchange by reference to a “Value Unit”.
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in relation to Productive Capital relates to the extent of “property rights” which may be held over it thereby allowing individuals to assert “absolute” permanent and exclusive ownership - in particular in relation to Land
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need for institutions which outlived the lives of the Members led to the development of the Corporate body with a legal existence independent of its Members
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The key development in the history of Capitalism was the creation of the ‘Joint Stock’ Corporate with liability limited by shares of a ‘Nominal’ or ‘Par’ value
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over the next 150 years the Limited Liability Corporate evolved into the Public Limited Liability Corporate
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Such “Closed” Shares of “fixed” value constitute an absolute and permanent claim over the assets and revenues of the Enterprise to the exclusion of all other “stakeholders” such as Suppliers, Customers, Staff, and Debt Financiers.
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It has the characteristics of what biologists call a ‘semi-permeable membrane’ in the way that it allows Economic Value to be extracted from other stakeholders but not to pass the other way.
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Capital most certainly is and always has been - through the discontinuity (see diagram) between:‘Fixed’ Capital in the form of shares ie Equity; and ‘Working’ Capital in the form of debt finance, credit from suppliers, pre-payments by customers and obligations to staff and management.
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xchange of Economic Value in a Closed Corporate is made difficult and true sharing of Risk and Reward is simply not possible
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All that is needed is a simple ‘Member Agreement’ – a legal protocol which sets out the Aims, Objectives. Principles of Governance, Revenue Sharing, Dispute Resolution, Transparency and any other matters that Members agree should be included. Amazingly enough, this Agreement need not even be in writing, since in the absence of a written agreement Partnership Law is applied by way of default.
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The ease of use and total flexibility enables the UK LLP to be utilised in a way never intended – as an ‘Open’ Corporate partnership.
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it is now possible for any stakeholder to become a Member of a UK LLP simply through signing a suitably drafted Member Agreement
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may instead become true Partners in the Enterprise with their interests aligned with other stakeholders.
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no profit or loss in an Open Corporate Partnership, merely Value creation and exchange between members in conformance with the Member Agreement.
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in an Enterprise constitute an infinitely divisible, flexible and scaleable form of Capital capable of distributing or accumulating Value organically as the Enterprise itself grows in Value or chooses to distribute it.
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Within the OCP Capital and Revenue are continuous: to the extent that an Investee pays Rental in advance of the due date he becomes an Investor.
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A Co-operative is not an enterprise structure: it is a set of Principles that may be applied to different types of enterprise structure.
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the crippling factors in practical terms have been, inter alia: the liability to which Member partners are exposed from the actions of their co-partners on their behalf; limited ability to raise capital.
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they favour the interests of other stakeholders, are relatively restricted in accessing investment; are arguably deficient in incentivising innovation.
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The ‘new’ LLP was expressly created to solve the former problem by limiting the liability of Member partners to those assets which they choose to place within its protective ‘semi-permeable membrane’
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However, the ability to configure the LLP as an “Open” Corporate permits a new and superior form of Enterprise.
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it is possible to re-organise any existing enterprise as either a partnership or as a partnership of partnerships.
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would be divided among Members in accordance with the LLP Agreement. This means that all Members share a common interest in collaborating/co-operating to maximise the Value generated by the LLP collectively as opposed to competing with other stakeholders to maximise their individual share at the other stakeholders’ expense.
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he ‘Commercial’ Enterprise LLP – where the object is for a closed group of individuals to maximise the value generated in their partnership. There are already over 7,000 of these.
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the Profit generated in a competitive economy based upon shareholder value and unsustainable growth results from a transfer of risks outwards, and the transfer of reward inwards, leading to a one way transfer of Economic Value.
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Whether its assets are protected within a corporate entity with limited liability or not, it will always operate co-operatively – for mutual profit.
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continuity between Capital as Static Value and Money as Dynamic Value which has never before been possible due to the dichotomy between the absolute/infinite and the absolute/finite durations of the competing claims over assets – “Equity” and “Debt”
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Open Capital Partnership gives rise to a new form of Financial Capital of indeterminate duration. It enables the Capitalisation of assets and the monetisation of revenue streams in an entirely new way.
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It is possible to envisage a Society within which individuals are members of a portfolio of Enterprises constituted as partnerships, whether limited in liability or otherwise.
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‘Commercial’ enterprises of all kinds aimed at co-operatively working together to maximise value for the Members.
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It can only be replaced by another ‘emergent’ phenomenon, which is adopted ‘virally’ because any Enterprise which does not utilise it will be at a disadvantage to an Enterprise which does.
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The ‘Open’ Corporate Partnership is: capable of linking any individuals anywhere in respect of collective ownership of assets anywhere; extremely cheap and simple to operate; and because one LLP may be a Member of another it is organically flexible and ‘scaleable’. The phenomenon of “Open Capital” – which is already visible in the form of significant commercial transactions - enables an extremely simple and continuous relationship between those who wish to participate indefinitely in an Enterprise and those who wish to participate for a defined period of time.
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Moreover, the infinitely divisible proportionate “shares” which constitute ‘Open’ Capital allow stakeholder interests to grow flexibly and organically with the growth in Value of the Enterprise. In legal terms, the LLP agreement is essentially consensual and ‘pre-distributive’: it is demonstrably superior to prescriptive complex contractual relationships negotiated adversarially and subject to subsequent re-distributive legal action. Above all, the ‘Open’ Corporate Partnership is a Co-operative phenomenon which is capable, the author believes, of unleashing the “Co-operative Advantage” based upon the absence of a requirement to pay returns to “rentier” Capitalists.
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shared by Kurt Laitner on 07 May 15
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The Link Economy and Creditright - Geeks Bearing Gifts - Medium - 3 views
medium.com/...y-and-creditright-95f938b503be
contributory value accounting dimVal *jeffjarvis creditright
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News Commons used Repost as the basis of a content- and audience-sharing network among dozens of sites big and small in the state’s new ecosystem
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Huffington Post and Twitter can get thousands of writers — including me — to make content for free because it brings us audience and attention.
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Consider an alternative to syndication. I’ll call it reverse syndication. Instead of selling my content to you, what say I give it to you for free? Better yet, I pay you to publish it on your site. The condition: I get to put my ad on the content. I will pay you a share of what I earn from that ad based on how much audience you bring me.
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If content could travel with its business model attached, we could set it free to travel across the web, gathering recommendations and audience and value as it goes
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She searched Google for “embeddable article” and up came Repost.us, already created by entrepreneur and technologist John Pettitt. Repost very cleverly allowed embeddable articles to travel with the creator’s own brand, advertising, analytics, and links.
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First, he found that the overlap in audience between a creator’s and an embedder’s sites generally ran between 2 and 5 percent. That is to say, the embedders brought a mostly new audience to the creator’s content.
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Instead, Pettitt found that click-through ran amazingly high: 5 to 7 percent — and these were highly qualified clicks of people who knew what they were going to get on the other side of a link
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I call this creditright. We need a means to attach credit to content for those who contribute value to it so that each constituent has the opportunity to negotiate and extract value along the chain, so that each can gain permission to take part in the chain, and so that behaviors that benefit others in the chain can be rewarded and encouraged
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Each creator’s ads traveled with its content — though that wasn’t necessarily optimal, because an ad for a North Jersey hairdresser wouldn’t perform terribly well with South Jersey readers brought in through embedding.
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key factor in its failure: Repost could find many sites willing and eager to make their content embeddable. It didn’t find enough sites to embed the content.
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But the embedders got nothing aside from the free use of content — content that was just a link away anyway
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Our ultimate problem in media is that we do not have sufficient technical and legal frameworks for alternate business models.
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That formula was the key insight behind Google: that links to content are a signal of its value; thus, the more links to a page from sites that themselves have more links, the more useful, relevant, or valuable that content is likely to be
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Silicon Valley’s: Those people are your fans who are bringing value to you by sending you audiences and by contributing their creativity, and you’d be wise to build your businesses around making it easier, not harder, for them to get and share your content when and how they want it.
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And so, we came to agree that we need new technological and legal frameworks flexible enough to enable multiple models to support creativity.
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Hollywood’s side: People who download our content without buying it or who remix it without our permission — and the platforms that facilitate these behaviors — are stealing from us and must be stopped and punished.
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Imagine you are a songwriter. You hear a street poet and her words inspire you to write a song about her, quoting her in the piece. You go to a crowdfunding platform — Kickstarter, Indiegogo, or Patreon — to raise money for you to go into the studio and perform and distribute your song. Another songwriter comes along and remixes it, making a new version and also sampling from others’ songs. Both end up on YouTube and Soundcloud, on iTunes and Google Play. Audience members discover and share the songs. A particularly popular artist shares the remixed version on Twitter and Facebook and it explodes. A label has one of its stars record it. The star appears on TV performing it. A movie studio includes that song in a soundtrack. There are many constituents in that process: the subject, the songwriter, the patrons, the fans, the remixer, the distributor, the label, the star, the show, the studio, and the platforms. Each contributed value.
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Each may want to recognize value — but not all will want cash. There are other currencies in play: The poet may want credit and fame; the songwriter may want to sell concert tickets; the patrons may want social capital for discovering and supporting a new artist; the remixer may want permission to remix; the platforms may want a cut of sales or of subscription revenue; the show may want audience and advertising; the studio will want a return on its investment and risk.
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I’ve suggested they would be wiser to seek another currency from Google: data about the users, helping build better services for readers and advertisers and thus better businesses
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We will need a way to attach metadata to content, recording and revealing its source and the contributions of others in the chain of continuing creation and distribution.
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We need a marketplace to measure and value their contributions and a means to negotiate rewards and permissions
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And we need a legal framework to allow the flexible exploration of new models, some of which we cannot yet imagine.
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It took many more years for society to develop principles of free speech to balance the economic and political interests of those who would attempt to control a new tool of speech.
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We must reimagine the business of media and news from the first penny, asking where value is created, who contributes to it, where it resides, and how to extract it
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Applications of distributed ledger technology (DLT) and Blockchain-enabled smart contra... - 2 views
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Traceability concerns "the ability to record all required information relating to that which is under consideration, throughout its entire lifecycle, by means of recorded identifications" A consortium blockchain structure is adopted and supported by smart contracts for compliance code checking to improve construction quality management and better facilitate information sharing and enhanced mutual trust
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MyoStretcher - 0 views
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IonOptix is proud to announce the release of the MyoStretcher, our new cardiomyocyte force measurement system. Facilitated by the arrival of IonOptix MyoTak, our bio-compatible cell adhesive, we've developed the MyoStretcher with a focus on simplicity, ease-of-use and reliability. The MyoStretcher includes all of the necessary components to stretch as well as record force in isolated myocytes. In addition to the sensitive force transducer, motorized micro-manipulators and all component fittings, we also offer an optional piezo-electric translator for programmable stretching and a kit to facilitate attachment of glass rods to the MyoStretcher arms.
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Private 'Distributed Ledgers' Miss the Point of a Blockchain | Bank Think - 0 views
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Some say it's a tool to enable transparency by ensuring that all members of a group receive cryptographically secured messages about participants’ activities
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Some are even bold enough to predict that distributed ledgers will end the madness of managing multiple database and reconciliation structures.
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Distributed ledgers have primarily claimed to supplant the need for Bitcoin's mining process by introducing trust requirements among participants. These ledgers also promise users the immutability of Bitcoin without the need for expensive mining operations.
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Blockchain technology is useful not because it offers efficiency in a world of message-passing but because it uses a complex process to settle value between untrusted parties.
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But distributed ledgers do not offer users the ability to easily convert their tokens and messages into fungible units of value. Nor do distributed ledgers escrow value between parties that don't trust each other.
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If a ledger is not a public resource, it will have the pressures incumbent to existing settlement systems plus the overhead of maintaining a shared database among competitors. What efficiency will remain thereafter remains dubious.
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their institutional users will probably find it expedient to hash their private-chain transactions and use those hashes to create bitcoin addresses and then send tiny fractions of a bitcoin to them to register their data at a location that cannot be hacked or changed.
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In other words, all private ledger/blockchains will lead to Bitcoin's Rome, driven there by its low cost and high public accountability.
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Kerr Scientific Instruments - Brain Slice & Tissue Recording Systems - 0 views
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Science and Technology Consultation - Industry Canada - 0 views
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Under this strategy
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Genome Canada, the Canadian Institute for Advanced Research and the Canada Foundation for Innovation.
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Still, Canadian businesses continue to underperform when it comes to innovation—a primary driver of productivity growth—when compared to other competing nations. The performance of business R&D is one oft-cited measure used to gauge the level of innovative activity in a country's business sector.
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Canadians have reached top tier global performance in reading, mathematics, problem solving and science, and Canada has rising numbers of graduates with doctoral degrees in science and engineering.
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The ease and ability of the academic community to collaborate, including through research networks, is also well-recognized.
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Still, the innovative performance of Canada's firms and the productivity growth continue to lag behind competing nations.
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The government is also committed to moving forward with a new approach to promoting business innovation—one that emphasizes active business-led initiatives and focuses resources on better fostering the growth of innovative firms.
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Achieving this requires the concerted effort of all players in the innovation system—to ensure each does what one does best and to leverage one another's strengths.
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the government has invested more to support science, technology and innovative companies than ever before
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Canada must become more innovative
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providing a new framework to guide federal ST&I investments and priorities. That is why the Government of Canada stated its intention to release an updated ST&I Strategy in the October 2013 Speech from the Throne.
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seeking the views of stakeholders from all sectors of the ST&I system—including universities, colleges and polytechnics, the business community, and Canadians
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encouraging partnerships with industry, attracting highly skilled researchers, continuing investments in discovery-driven research, strengthening Canada's knowledge base, supporting research infrastructure and providing incentives to private sector innovation.
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Canada has a world-class post-secondary education system that embraces and successfully leverages collaboration with the private sector, particularly through research networks
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post-secondary and research institutions that attract and nurture highly qualified and skilled talent
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Why a race? We need to change the way we see this!!! We need to open up. See the European Commission Horizon 2020 program http://ec.europa.eu/programmes/horizon2020/en/ They are acknowledging that Europe cannot do it alone, and are spending money on International collaboration.
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There is nothing about non-institutionalized innovation, i.e. open source! There is nothing about the public in this equation like the Europeans do in the Digital Era for Europe program https://ec.europa.eu/digital-agenda/node/66731
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low taxes, strong support for new businesses, a soundly regulated banking system, and ready availability of financial services
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provide incentive for innovative activity in firms, improved access to venture capital, augmented and more coordinated direct support to firms, and deeper partnerships and connections between the public and private sectors.
Kerr Scientific Instruments - Brain Slice & Tissue Recording Systems - 0 views
kerrscientific.com/_recording_system_features.htm
instruments tissue Mosquito Scientific System company competitor
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