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RESEARCH REPORT ABOUT ARYACOIN

RESEARCH REPORT ABOUT ARYACOIN
Author: Gamals Ahmed, CoinEx Business Ambassador

https://preview.redd.it/a7jv4azk86u51.jpg?width=1600&format=pjpg&auto=webp&s=e4a4dbb5afacd5747076beaa59e6343b805c3392

ABSTRACT

Aryacoin is a new cryptocurrency, which allows for decentralized, peer to peer transactions of electronic cash. It is like Bitcoin and Litecoin, but the trading of the coin occurs on sales platforms that have no restriction to use. Further, it was created with the goal of addressing the double spend issues of Bitcoin and does so using a timestamp server to verify transactions. It works by taking the hash of a block of items to be timestamped and widely publishing the hash. The timestamp proves that the data must have existed at the time in order to get the hash. Each timestamp then includes the previous timestamp in its hash, forming a chain.
The Aryacoin team is continuously developing new use cases for the coin, including exchanges where users can exchange the coins without any fees or restrictions, and offline options where the coins can be bought and sold for cash. The coins can also be used on the company’s other platform, mrdigicoin.io. Along with the coin, there is a digital wallet that can be created and controlled by the user entirely, with no control being retained by the Aryacoin team.

1.INTRODUCTION

The concept of Blockchain first came to fame in October 2008, as part of a proposal for Bitcoin, with the aim to create P2P money without banks. Bitcoin introduced a novel solution to the age-old human problem of trust. The underlying blockchain technology allows us to trust the outputs of the system without trusting any actor within it. People and institutions who do not know or trust each other, reside in different countries, are subject to different jurisdictions, and who have no legally binding agreements with each other, can now interact over the Internet without the need for trusted third parties like banks, Internet platforms, or other types of clearing institutions.
When bitcoin was launched it was revolutionary allowing people to transfer money to anytime and anywhere with very low transaction fees . It was decentralized and their is no third party involved in the transaction , only the sender and receiver were involved.
This paper provide a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. Bitcoin was made so that it would not be controlled or regulated but now exchanges and governments are regulating bitcoin and other cryptocurrencies at every step. Aryacoin was developed to overcome these restrictions on a free currency.
Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.

1.1 OVERVIEW ABOUT ARYACOIN

Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.
Aryacoin is a blockchain based project that allows users to access their wallet on the web and mobile browsers, using their login details.
Aryacoin can be mined; it also can be exchanged by other digital currencies in several world-famous exchanges such as Hitbtc, CoinEx, P2pb2b, WhiteBit, Changelly and is also listed in reputable wallets such as Coinomi and Guarda.
Aryacoin is a coin, which can be used by anyone looking to use cryptocurrency which allows them to keep their privacy even when buying/selling the coin along with while using the coin during transactions. Proof of work and cryptographic hashes allows transactions to verified.
Stable Fee Per AYA is a unique feature of Aryacoin, so by increasing the amount or volume of the transaction, there is no change in the fee within the network, which means that the fee for sending an amount less than 1 AYA is equal to several hundred million AYA. Another unique feature of Aryacoin is the undetectability of transactions in Explorer, such as the DASH and Monero, of course, this operation is unique to Aryacoin.
Using Aryacoin digital currency, like other currencies, international transactions can be done very quickly and there are no limitations in this area as the creators claim.
Aryacoin aims to allow users to access the Aryacoin wallet via the web and mobile browsers using their login details.
Aryacoin is a peer-to-peer electronic cash system that enables users to send and receive payments directly from one party to another, and allow them to transfer funds across borders with no restriction or third party involvement. The blockchain-based system embraces the digital signature, which prevents double spending and low transfer fees, which enables users to transfer huge amounts with very low fees. The proof-of-work consensus mechanism allows each transaction to be verified and confirmed, while anonymity enables users to use the coin anywhere at any time.
According to the website of the operation, each wallet is divided into 2 or more AYA wallet addresses for each transaction, and depending on the volume of the transaction block, the origin, and destination of transactions in the network can not be traced and displayed to the public.
In fact, each wallet in Aryacoin consists of a total of several wallets. The number of these wallets increases per transaction to increase both security and privacy. Aryacoin also uses the dPoW protocol. In the dPoW protocol, a second layer is added to the network to verify transactions, which makes “51% attack” impossible even with more than half of the network hash, and blocks whose Blockchain uses this second layer of security never run the risk of 51% attacks.
AYA has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by
first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin.

1.1.1 ARYACOIN HISTORY

Aryacoin (AYA) is a new cryptocurrency, which has been created by a group of Iranian developers, is an altcoin which allows for decentralised, peer to peer transactions of electronic cash without any fees whatsoever. Along with the coin, there is a digital wallet that can be created and managed by the user entirely, with no control being retained by the Aryacoin team.
Aryacoin’s founder, Kiumars Parsa, has been a fan of alternative currencies and particularly Bitcoin.
We see people from all around the world using Blockchain technology and the great benefits that came with it and it then that I decided to solve this puzzle for find a way of bringing the last missing piece to the jigsaw. The idea for Aryacoin was born.” Parsa said.
Parsa and his team of Iranian ex-pats not only persevered but expedited the project and just a year later, in the summer of 2019, the first version of Aryacoin was released. In 2020, Aryacoin is the first and only Iranian coin listed on CMC.
Parsa goes on to state that it is now the strength of the community that has invested in the coin that will ultimately drive its success, alongside its robust technology and appealing 0% network fees.
We have thousands of voices behind Aryacoin. People for the people make this coin. It is a massive shout out for democracy. This had made us base the whole team strategy on the benefits for both our users and our traders.
One key example is that the network fee on AYA Blockchain is 0%. Yes, absolutely nothing, which which differentiates us from other networks. What also differentiates us from other coins is that we have AYAPAY which is the first cryptocurrency Gateway in the world which does not save funds on third party storage with all funds being forwarded directly to any wallet address that the Gateway owner requests”.
So for the first time ever, and unlike other gateways, incoming funds will be saved on the users account with submitted withdrawal requests then made on the Gateway host website. In AYAPAY which has also been developed by the Aryacoin team, all funds without extra fees or extra costs will directly forwarded to users wallets. We have named this technology as CloudWithdrawal.
We are continuously challenging ourselves as it is a crowded marketplace. We are striving to have a safer Blockchain against 51% attacks, faster confirmations speeds of transactions, cheaper network fee, growing the market by cooperation with Top tier Exchangers.

1.1.2 ARYACOIN’S MAIN GOAL

Aryacoin’s main goal is to educate people and give them the freedom to use cryptocurrency in any way they want. Aryacoin empowers the users to transfer, pay, trade cryptocurrency from any country around the globe.
Platforms that have been created by Aryacoin Team, as well as those that will go live in future, operate on the same principle and exclude absolutely no one.

1.1.3 PROBLEM ARYACOIN SEEKS TO SOLVE

Aryacoin aims to provide a long-term solution to the problem of double spending, which is still common in the crypto market. The developers of the system have created a peer-to-peer distributed timestamp server that generates computational proof of the transactions as they occur.
Besides, the system remains secure provided honest nodes control more CPU power than any cooperating group of attacker nodes. While Bitcoin was designed not to be regulated or controlled, many exchanges and governments have put regulatory measures on the pioneer cryptocurrency at every step. Aryacoin aims to overcome these restrictions as a free digital currency.

1.1.4 BENEFITS OF USING ARYACOIN

Aryacoin solution offers the following benefits:
  • Real-time update: whether you’re going on a holiday or a business trip, no problem. You can access your coins all over the world.
  • Instant operations: Aryacoin makes it quite easy for you to use your digital wallet and perform various operations with it.
  • Safe and secure: all your data is stored encrypted and can only be decrypted with your private key, seed, or password.
  • Strong security: The system has no control over your wallet. You are 100% in charge of your wallet and funds.

1.1.5 ARYACOIN FEATURES

1. Anonymity
The coin provides decent level of anonymity for all its users. The users can send their transactions to any of the public nodes to be broadcasted , the transaction sent to the nodes should be signed by the private key of the sender address . This allows the users to use the coin anywhere any time , sending transactions directly to the node allows users from any place and country .
2. Real Life Usage
aryacoin’s team is continuously developing new and innovative ways to use the coins , they are currently developing exchanges where the users can exchange the coins without any fees and any restrictions . They also are currently developing other innovative technologies, which would allow users to spend our coins everywhere and anywhere.
3. Offline Exchanges
They are also working with different offline vendors which would enable them to buy and sell the coins directly to our users on a fixed/variable price this would allow easy buy/sell directly using cash . This would allow the coins to be accessible to users without any restrictions which most of the online exchanges have, also increase the value and number of users along with new ways to spend the coin. This would increase anonymity level of the
coin. In addition, introduce new users into the cryptomarket and technology. Creating a revolution, which educates people about crypto and introduce them to the crypto world, which introduces a completely new group of people into crypto and a move towards a Decentralized future!
4. Transactions
When it comes to transactions, Aryacoin embraces a chain of digital signatures, where each owner simply transfers the coin to the next person by digitally signing a hash of the previous transaction and the public key of the next owner. The recipient can then verify the signatures to confirm the chain of ownership. Importantly, Aryacoin comes with a trusted central authority that checks every transaction for double spending.
5. Business Partner with Simplex
Aryacoin is the first and only Iranian digital currency that managed to obtain a trading license in other countries.
In collaboration with the foundation and financial giant Simplex, a major cryptocurrency company that has large companies such as Binance, P2P, Changelly, etc. Aryacoin has been licensed to enter the world’s major exchanges, as well as the possibility of purchasing AYA through Credit Cards, which will begin in the second half of 2020.
Also, the possibility of purchasing Aryacoin through Visa and MasterCard credit cards will be activated simultaneously inside the Aryacoin site. plus, in less than a year, AYA will be placed next to big names such as CoinCapMarket, Coinomi, P2P, Coinpayments and many other world-class brands today.

1.1.6 WHY CHOOSE ARYACOIN?

If you want to use a cryptocurrency that allows you to keep your privacy online even when buying and selling the coins, the Aryacoin team claims that AYA is the way to go. Aryacoin is putting in the work: with more ways to buy and sell, and fixing the issues that were present in the original Bitcoin, plus pushing the boundaries with innovative solutions in cryptocurrencies. You can get started using Aryacoin (AYA) payments simply by having a CoinPayments account!

1.1.7 ARYANA CENTRALIZED EXCHANGE

Aryana, the first Iranian exchange is a unique platform with the following features:
  • The first real international Persian exchange that obtains international licenses and is listed in CoinMarketCap.
  • The first Iranian exchange that has been cooperating with a legal and European exchange for 3 years.
  • The possibility of trading in Tomans (available currency in Iran) at the user’s desired price and getting rid of the transaction prices imposed by domestic sites inside Iran.
  • There is an internal fee payment plan by Iranian domestic banks for depositing and withdrawing Tomans for Aryacoin holders in Aryana Exchange.
  • The number that you see on the monitor and in your account will be equal to the number that is transferred to your bank account without a difference of one Rial.
  • The last but not least, noting the fact that there is a trading in Tomans possibility in Aryana exchange.
Aryana Exchange is using the most powerful, fastest, and most expensive server in the world, Google Cloud Platform (GCP), which is currently the highest quality server for an Iranian site, so that professional traders do not lag behind the market even for a second.
The feature of Smart Trading Robots is one of the most powerful features for digital currency traders. Digital cryptocurrency traders are well aware of how much they will benefit from smart trading robots. In the Aryana exchange, it is possible to connect exchange user accounts to intelligent trading bots and trade even when they are offline.
The injection of $ 1 million a day in liquidity by the WhiteBite exchange to maintain and support the price of Tether and eliminate the Tether fluctuations with Bitcoin instabilities used by profiteers to become a matter of course.

1.1.8 HOW DOES ARYACOIN WORK?

Aryacoin (AYA) tries to ensure a high level of security and privacy. The team has made sure to eliminate any trading restrictions for the network users: no verification is required to carry out transactions on AYA, making the project truly anonymous, decentralized, and giving it a real use in day-to-day life. The Delayed-Proof-of-Work (dPoW) algorithm makes the Aryacoin blockchain immune to any attempts of a 51% attack. AYA defines a coin as a chain of digital signatures — each owner transfers the coin to the next owner by digitally signing the hash of the previous transaction and the public key of the next owner, and the receiver verifies the signatures and the chain of ownership.

2. ARYACOIN TECHNOLOGY

2.1 PROOF-OF-WORK

They use a proof-of-work system similar to Adam Back’s Hashcash to implement a distributed timestamp server on a peer-to-peer basis, rather than newspaper or Usenet publications. The proof-of-work involves scanning for a value that when hashed, such as with SHA-256, the hash begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash.
For their timestamp network, they implement the proof-of-work by incrementing a nonce in the block until a value is found that gives the block’s hash the required zero bits. Once the CPU effort has been expended to make it satisfy the proof-of-work, the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing all the blocks after it.
The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If honest nodes control a majority of CPU power, the honest chain will grow the fastest and outpace any competing chains. To modify a past
block, an attacker would have to redo the proof-of-work of the block and all blocks after it, then catch up with, and surpass the work of the honest nodes.

2.2 NETWORK

The steps to run the network are as follows:
  • New transactions are broadcast to all nodes.
  • Each node collects new transactions into a block.
  • Each node works on finding a difficult proof-of-work for its block.
  • When a node finds a proof-of-work, it broadcasts the block to all nodes.
  • Nodes accept the block only if all transactions in it are valid and not already spent.
This is a very simple system that makes the network fast and scalable, while also providing a decent level of anonymity for all users. Users can send their transactions to any of the public nodes to be broadcast, and the private key of the sender’s address should sign any transaction sent to the nodes. This way, all transaction info remains strictly confidential. It also allows users to send transactions directly to the node from any place at any time and allows the transferring of huge amounts with very low fees.

2.3 AYAPAY PAYMENT SERVICES GATEWAY:

According to creators Aryacoin, the development team has succeeded in inventing a new blockchain technology for the first time in the world, which is undoubtedly a big step and great news for all digital currency enthusiasts around the world.
This new technology has been implemented on the Aryacoin AYAPAY platform and was unveiled on October 2. AYAPAY payment platform is the only payment gateway in the world that does not save money in users’ accounts and transfers incoming coins directly to any wallet address requested by the gateway owner without any additional transaction or fee.
In other similar systems or even systems such as PayPal, money is stored in the user account.

2.4 CONSENSUS ALGORITHM IN ARYACOIN

The devs introduced the Delayed-Proof-of-Work (dPoW) algorithm, which represents a hybrid consensus method that allows one blockchain to take advantage of the security provided by the hashing power of another blockchain. The AYA blockchain works on dPoW and can use such consensus methods as Proof-of-Work (PoW) or Proof-of-Stake (PoS) and join to any desired PoW blockchain. The main purpose of this is to allow the blockchain to continue operating without notary nodes on the basis of its original consensus method. In this situation, additional security will no longer be provided through the attached blockchain, but this is not a particularly significant problem. dPoW can improve the security level and reduce energy consumption for any blockchain.

2.5 DOUBLE-SPEND PROBLEM AND SOLUTION

One of the main problems in the blockchain world is that a receiver is unable to verify whether or not one of the senders did not double-spend. Aryacoin provides the solution, and has established a trusted central authority, or mint, that checks every transaction for double-spending. Only the mint can issue a new coin and all the coins issued directly from the mint are trusted and cannot be double-spent. However, such a system cannot therefore
be fully decentralized because it depends on the company running the mint, similar to a bank. Aryacoin implements a scheme where the receiver knows that the previous owners did not sign any earlier transactions. The mint is aware of all transactions including which of them arrived first. The developers used an interesting solution called the Timestamp Server, which works by taking a hash of a block of items to be ‘timestamped’ and publishing the hash. Each timestamp includes the previous timestamp in its hash, forming a chain. To modify a block, an attacker would have to redo the proof-of-work of all previous blocks, then catch up with, and surpass the work of the honest nodes. This is almost impossible, and makes the network processes more secure. The proof-of-work difficulty varies according to circumstances. Such an approach ensures reliability and high throughput.

3. ARYACOIN ROADMAP

April 2019: The launch of Aryacoin; AYA ICO, resulting in over 30BTC collected
December 2019: The launch of AYA Pay
April 2020: The successful Hamedan Hardfork, supported by all AYA exchanges, aimed at integrating the dPoW algorithm, improving the security of the AYA blockchain.
June 2020: Aryana Exchange goes live, opening more trading opportunities globally
July 2020: The enabling of our Coin Exchanger
November 2020: The implementation of Smart Contracts into the Aryacoin Ecosystem
Q1 2021: Alef B goes live (more details coming soon)

4. THE NUCYBER NETWORK COMMUNITY & SOCIAL

Website: https://aryacoin.io/
Explorer: https://explorer.aryacoin.io/
Github: https://github.com/Aryacoin/Aryacoin
Twitter: 1.1k followers https://twitter.com/AryacoinAYA
Reddit: 442 members https://github.com/nucypher
Instagram: 3.8k followers https://www.instagram.com/mrdigicoin/ Telegram: 5.9k subscribers https://t.me/AYA_Global

5. SUMMARY

Aryacoin (AYA) is a new age cryptocurrency that combines the best of the blockchain technology and strives to deliver high trading and mining standards, enabling users to make peer-to-peer decentralized transactions of electronic cash. Aryacoin is part of an ecosystem that includes payment gateway Ayapay and the Ayabank. AYA has a partnership with the Microsoft Azure cloud platform, which provides the ability to develop applications and store data on servers located in distributed data centers. The network fee for the AYA Blockchain is 0%. In Ayapay service, which has been developed by the Aryacoin team, all funds without extra fees or costs are directly forwarded to users’ wallets with technology called CloudWithdrawal. The devs team is introducing new use cases including exchanges where users will exchange AYA without any restrictions. You can buy AYA on an exchange of your choice, create an Aryacoin wallet, and store it in Guarda.

6. REFERENCES

1) https://coincodex.com/crypto/aryacoin/
2) https://www.icosandstos.com/coin/Aryacoin%20AYA/YuXO60UPF3
3) https://www.publish0x.com/iran-and-cryptocurrency/a-brief-introduction-of-aryacoin-first-ever-iranian-cryptocu-xoldlom
4) https://techround.co.uk/cryptocurrency/aryacoin-the-digital-currency-created-by-iranians/
5) https://bitcoinexchangeguide.com/aryacoin/
6) https://blog.coinpayments.net/coin-spotlight/aryacoin
7) https://guarda.com/aryacoin-wallet
submitted by CoinEx_Institution to Coinex [link] [comments]

As awareness is increasing for Quant after recent announcements, here is an overview and links to find more info about this fantastic project

As awareness is increasing for Quant after recent announcements, here is an overview and links to find more info about this fantastic project
1/ As awareness is increasing for @quant_network after recent announcements I encourage everyone to see the thread below providing more details around the project. Excellent Team, Tech, Use cases, Tokenomics, Partners has it all.
https://preview.redd.it/usj6bepzvz751.png?width=1345&format=png&auto=webp&s=bf859c622fcf2fdebf9c1be24b369e7a8312119d
2/ Quant’s Overledger Blockchain Operating System not only provides interoperability between all the leading Enterprise and Public Blockchains but also connecting the world’s networks to blockchain with just 3 lines of code.
https://preview.redd.it/1tf32qb1wz751.png?width=1200&format=png&auto=webp&s=f6d7c437d5b764916fab8fdfefe787ad2afce38f
3/ Unlike other solutions, Overledger solves interoperability at scale without the overhead/bottleneck/single point of failure of adding another blockchain in the middle, nor does it impose restrictions / require blockchains to fork their code to connect.
https://medium.com/@CryptoSeq/what-is-a-blockchain-operating-system-and-what-are-the-benefits-c561d8275de6
4/ Overledger is not a blockchain itself, but an OS that runs on top of multiple blockchains, providing a platform to build and use multi chain applications and abstracts all of the complexities involved with integrating with all the different blockchains
https://medium.com/@CryptoSeq/blockchain-operating-system-learning-from-the-past-to-build-a-better-future-92142c823d30
5/ #Interoperability is more than just Blockchain-to-Blockchain. True Interoperability is Any-to-Any.@quant_network are launching a universal connector for Overledger which allows for any API to connect to any Blockchain through Overledger.
https://preview.redd.it/taxpb9p3wz751.png?width=806&format=png&auto=webp&s=8c527753dc62ab00756c8a32fa16134b91df8821
6/ This will mean APIs like IFTTT/ZapiePayment APIs/Banking APIs/IoT APIs etc can now seamlessly interoperate with Blockchains through Overledger. You can integrate pretty much any tech and API into Overledger
https://preview.redd.it/7f35q465wz751.png?width=1199&format=png&auto=webp&s=09dd7480212eb44903a683e81ecb9878ff077fbe
7/ Quant's approach is superior, enabling scalable interoperability, can connect any blockchain / existing network, future proof and without imposing limitations / requiring connected chains to fork their code
See https://twitter.com/CryptoSeq/status/1270237869043572737
and this article https://medium.com/@CryptoSeq/quant-networks-overledger-part-two-the-layers-of-overledger-ea23a7148af1
8/ Every Blockchain has their own advantages and disadvantages. Why compromise on one platform when with Multi-chain Applications (MAPPs) you can combine the best features from multiple? Why have the risk and limitations of Vendor Lock in?
9/ Only Overledger enables Treaty Contracts, where you can deploy, query and execute multi-chain smart contracts. Bridge and extend smart contracts across multiple blockchains.
10/ Overledger Network is due to launch in a few days and is a Network of Networks, which allows enterprise and communities stakeholders to access and participate in a growing hyper-connected decentralised ecosystem
https://preview.redd.it/00z37ih7wz751.png?width=679&format=png&auto=webp&s=b073064f717953e6329a07bc61f3d77dd334f643
11/ Enterprises, banks, central banks, trading venues, etc will be able to host their own secure dedicated gateways, enabling secure connectivity to permissioned networks, permissionless networks, ecosystems, consortia and other distributed technologies.
https://medium.com/@CryptoSeq/the-network-of-networks-scalable-interoperability-to-unleash-the-true-potential-of-blockchain-c54e7d373d2d
12/ Community members will also be able to run an Overledger gateway to further enhance the scalability, decentralisation and optimise network latency, providing enterprises, developers and users choice to use the closest gateway when accessing permissionless blockchains.
13/ The Overledger gateways will create a scalable p2p network that shares the transaction and volume between participants and chooses the closest or largest node to transact with
https://medium.com/@CryptoSeq/how-the-overledger-network-community-treasury-powers-the-network-of-networks-b716b01d8284
14/ Quant will be open sourcing the connectors so that anyone can connect their favourite blockchain to Overledger Network and benefit from increased adoption from the Enterprises, Developers and users of all the existing connected blockchains / networks.
15/ Partners: Quant have partnered with SIA, the leading financial network provider in Europe and both companies are confident that this development will play an integral part in building the financial infrastructure of the future globally
https://www.sia.eu/en/media-events/news-press-releases/quant-network-and-sia-successfully-tested-blockchain-interoperability
16/ SIA provide a private financial network which is the backbone of the European financial market. SIA and SWIFT are the only 2 providers for the Eurosystem Single Market Infrastructure Gateway, granting access to all RTGS, Securities and Instant Payment transactions for Europe.
17/ Overledger is integrated into SIAChain part of that private financial network (SIAnet) that is the backbone of the european financial market, enabling the 580 banks, central banks, trading venues that are building projects on SIAChain to benefit from scalable Interoperability
18/ Some of the largest blockcain projects in the world are being launched on SIAChain, one of those is the Spunta project.
Spunta is a huge project consisting of the entire italian banking system and looks to further expand into europe
https://www.r3.com/videos/italian-banking-association-and-r3/
19/ Another project building on SIAChain is Fideiussioni Digitali, a digital sureties project with the Bank of Italy sia.eu/en/media-event… as well as potential trial platform for digital euro
To read more about the partnership with SIA is a game changer
https://medium.com/@CryptoSeq/quant-network-partner-with-sia-a-game-changer-for-mass-blockchain-adoption-by-financial-9059ab411069
20/ Quant have partnered with Oracle (the 2nd largest Software provider in the world) as a Fintech Partner to deliver financial services infrastructure.
Quant are enabling #interoperability of DLTs to deliver mission-critical business applications and workloads for FS clients.
https://preview.redd.it/o15tnnr9wz751.png?width=1200&format=png&auto=webp&s=8aba1e61de76b39b4f82ce9a3f8a15b456b674f5
https://preview.redd.it/qdnu6piawz751.png?width=1012&format=png&auto=webp&s=b25bee3d43a6d6cc56eab1ad594c656c07658de1
21/ Oracle invited Quant to attend the leading financial event of the year - SWIFT SIBOS where Oracle were co-marketing with Quant to take their solution to their 480,000 clients including meetings with Banks / Central Banks
https://preview.redd.it/oer1rbxbwz751.png?width=770&format=png&auto=webp&s=802d9edfc82fe383aacacd16eabe733a20860703
22/ Another fantastic partnership is with @SimbaChain. It is a smart-contract-as-a-service (SCaaS) platform, enabling users across a variety of skill sets to implement dapps. They are developing on Overledger to allow them to deploy DAPPs across multiple connected blockchains.
23/ SIMBA Chain have recently been awarded a $9.5 million contract with the US Navy, they are also working with the US Air Force. They have a thriving ecosystem with over 2300 Organizations and 1150+ Applications developed.
https://cointelegraph.com/news/us-navy-bets-95m-on-blockchain-to-keep-messaging-secret
24/ Quant are working with clients in the Capital Market space such as AX Trading to bring more digital assets, securities and tokenised assets to their existing 800 institutional traders in an already live and connected FINRA and SEC regulated exchange.
https://medium.com/@CryptoSeq/wall-street-2-0-17252ffd8919
25/ @quant_network's Interchange enables FIAT to be representing on a blockchain enabling Delivery vs Payment across multiple blockchains with cross chain atomic swaps as well as integrating into existing payment rails such as Faster Payments, CHAPS, SEPA, SWIFT, PAY UK
https://preview.redd.it/8w39juydwz751.png?width=1200&format=png&auto=webp&s=0c8cfec6050ff2d6b27922ba640bfbb549fa9db1
https://preview.redd.it/fnxfo0qewz751.png?width=924&format=png&auto=webp&s=a3573556d7081e672bb86e31500f06a75f6ca662
26/ Enormous traditional exchanges like Fidelity, SIX, Nasdaq, Deutsche Borse will soon be entering the space, offering Digital Assets that are traded today on Crypto exchanges as well as tokenising Stocks, bringing in enormous amounts of investment from institutional investors.

https://preview.redd.it/w6scjpnvwz751.png?width=430&format=png&auto=webp&s=fc7051595807a58fbe5505b8ccacc58f135ded61
https://preview.redd.it/p5i5rwdwwz751.png?width=1100&format=png&auto=webp&s=e050c5fc5ac4614313e4fd737c1d2c5bf9dcfc31
27/ Quant were made a guarantor of Pay.uk - the UK’s largest payment network. Through this relationship, Quant will shape the payment ecosystem and help set the strategic direction of the Payments infrastructure and adopting the New Payments Architecture (NPA).
https://preview.redd.it/vqg19hngwz751.png?width=770&format=png&auto=webp&s=85bc997d93e052a8e1d0e574a1509c06cb996237
28/ Quant have also partnered with AUCloud and UKCloud to provide highly secure and interoperable Blockchain-as-a-Service for Australian Government and Defence and the critical national industries and supply chains that serve the nation.
https://www.quant.network/blog/quant-network-and-aucloud-partner-to-provide-worlds-first-blockchain-operating-system-for-government-and-critical-national-industries
29/ And others such Crowdz a leading blockchain-based trade finance company who are partnered with Barclaycard and recently received $5.5 million Series A Investment from Barclays Bank and others
As well as being a member of Hyperledger, MOBI and more
https://medium.com/@CryptoSeq/large-enterprise-adoption-of-blockchain-is-happening-enabled-by-quant-networks-overledger-32321b650115
30/ The Team: Gilbert Verdian the CEO - his CV speaks for itself. Before starting Quant he was the Chief Information Security Officer for Vocalink (Mastercard) and was in charge of security for the entire payments in the UK managing £6 Trillion per year
https://www.gilbertverdian.com/cv/
31/ Martin Hargreaves recently joined as Chief Product Officer. He has 12 years experience at Vocalink and was the Vice President of Product. Vocalink (Mastercard) manage the entire payments system for the UK as well as other payment networks in the US, Singapore
https://preview.redd.it/mfzp5bfiwz751.png?width=1200&format=png&auto=webp&s=d3f7f16e5f2f8ad27907f5b94e5af3aadb548d18
32/ Guy Dietrich the managing director of Rockefeller Capital (who manage assets worth over $30 billion) joined the board of directors and has attended meetings personally with Gilbert such as with the Financial Conduct Authority in the UK
https://preview.redd.it/on3qgijkwz751.png?width=619&format=png&auto=webp&s=d7a2c38edd0efd32487c33b0b552ed54eefd18d8
33/ Gilbert founded ISO TC 307, the globally recognized standard which has 57 countries working towards. This is vitally important for Enterprise / Government adoption and designed from the start to adhere to those rather than have to redesign it later.
https://preview.redd.it/b9ugauimwz751.png?width=1200&format=png&auto=webp&s=6d9c483e3017310814220260711fd737edc55fcb
34/ Not only do they have enormous meaningful partnerships, advanced tech that's solving a problem which is very much needed and an excellent team, they also have the best tokenomics i have seen in a project and is integral to everything.
https://preview.redd.it/udtf3w9owz751.png?width=1345&format=png&auto=webp&s=42cfe696b777591bb034dd71e4bd782284e0bcf1
35/ Hedge against Inflation - has a total supply of just 14.6 million, no inflation, no new tokens minted and no huge % of tokens controlled by the team waiting to be released. Circulating supply is 12 Million which will reduce over time with QNT being locked up for licenses
36/ Whether it's #Bitcoin, Stable Coins, #DeFi, Central Bank Digital Currencies that come out on top or a combination of all, @quant_network is working with them all, connecting , , and working with multiple Central Banks all leading to more demand / usage of
37/ @Overledger has been designed to be future proof by not being a blockchain itself and performing #interoperability at a layer above, learning from what made TCP/IP so dominant after 40+ years. Whether it be Blockchain 1.0, 2.0, 3.0.. it doesnt matter,$QNT can connect them all
38/ Whether it be Permissioned or Permissionless Blockchains, @Overledger can connect them all. Currently $BTC, $ETH, $XRP(L), $EOS, $XLM, $IOTA, $DAG, #Corda, #Hyperledger, #Qurorum. $QNT is one of very few tokens that are needed even in a Permissioned Enterprise environment.
39/ Sustainable Business Model - Earning revenue (on track for $10 million last year), moving into an office twice the size in the UK and currently hiring 6 additional employees and expanding to other parts of the world despite the uncertainty many are facing.
40/ is needed for licenses, consumption fees, gateways (staking for higher throughput), signing of messages on #Overledger, minimum holdings of QNT.will be locked up reducing circulating supply so not just bought then immediately sold and needed by all inc enterprises
41/ Provides what all projects need - true scalable #interoperability not just between blockchains but legacy systems as well. With no added overhead of an additional consensus mechanism, doesn't impose restrictions or require connected chains to fork their code. Anybody can join
https://preview.redd.it/eq11fnjqwz751.png?width=679&format=png&auto=webp&s=3079aafd7c0717c878b10edf5819cee6d428e13e
43/ For Tokenomics see @quant_network's Utility Paper https://bit.ly/2xc25mA and @DavidW___'s article https://medium.com/@davW/a-deeper-look-into-the-quant-network-utility-token-qnt-valuation-dynamics-and-fundamentals-84633ca7cb58
https://twitter.com/CryptoSeq/status/1277555274405068801
https://threadreaderapp.com/thread/1277555274405068801.html
submitted by xSeq22x to QuantNetwork [link] [comments]

As awareness is increasing for Quant after recent announcements, here is an overview and links to find more info about this fantastic project

As awareness is increasing for Quant after recent announcements, here is an overview and links to find more info about this fantastic project
1/ As awareness is increasing for @quant_network after recent announcements I encourage everyone to see the thread below providing more details around the project. Excellent Team, Tech, Use cases, Tokenomics, Partners has it all.

https://preview.redd.it/gbm8yhtbvz751.png?width=1345&format=png&auto=webp&s=1eb8953930cf676aa3caefa2ea94a9ac1c877723
2/ Quant’s Overledger Blockchain Operating System not only provides interoperability between all the leading Enterprise and Public Blockchains but also connecting the world’s networks to blockchain with just 3 lines of code.

https://preview.redd.it/9kmidjenqz751.png?width=1200&format=png&auto=webp&s=ebac8c6534ec601394fc995143284b57d6137232
3/ Unlike other solutions, Overledger solves interoperability at scale without the overhead/bottleneck/single point of failure of adding another blockchain in the middle, nor does it impose restrictions / require blockchains to fork their code to connect.
https://medium.com/@CryptoSeq/what-is-a-blockchain-operating-system-and-what-are-the-benefits-c561d8275de6
4/ Overledger is not a blockchain itself, but an OS that runs on top of multiple blockchains, providing a platform to build and use multi chain applications and abstracts all of the complexities involved with integrating with all the different blockchains
https://medium.com/@CryptoSeq/blockchain-operating-system-learning-from-the-past-to-build-a-better-future-92142c823d30
5/ #Interoperability is more than just Blockchain-to-Blockchain. True Interoperability is Any-to-Any.@quant_network are launching a universal connector for Overledger which allows for any API to connect to any Blockchain through Overledger.
https://preview.redd.it/0tax2hqsqz751.png?width=806&format=png&auto=webp&s=397bc6416262978bf5e59d67e9d5074032d86e55
6/ This will mean APIs like IFTTT/ZapiePayment APIs/Banking APIs/IoT APIs etc can now seamlessly interoperate with Blockchains through Overledger. You can integrate pretty much any tech and API into Overledger
https://preview.redd.it/gg4lrycuqz751.png?width=1199&format=png&auto=webp&s=23a344e7086c63d1d4b269cae989bb1b2c577a28
7/ Quant's approach is superior, enabling scalable interoperability, can connect any blockchain / existing network, future proof and without imposing limitations / requiring connected chains to fork their code
See https://twitter.com/CryptoSeq/status/1270237869043572737
and this article https://medium.com/@CryptoSeq/quant-networks-overledger-part-two-the-layers-of-overledger-ea23a7148af1
8/ Every Blockchain has their own advantages and disadvantages. Why compromise on one platform when with Multi-chain Applications (MAPPs) you can combine the best features from multiple? Why have the risk and limitations of Vendor Lock in?
9/ Only Overledger enables Treaty Contracts, where you can deploy, query and execute multi-chain smart contracts. Bridge and extend smart contracts across multiple blockchains.
10/ Overledger Network is due to launch in a few days and is a Network of Networks, which allows enterprise and communities stakeholders to access and participate in a growing hyper-connected decentralised ecosystem
https://preview.redd.it/u8l4yoh6rz751.png?width=679&format=png&auto=webp&s=a3d7618dd2e86e8bb1944d9da5224b75652e04c4
11/ Enterprises, banks, central banks, trading venues, etc will be able to host their own secure dedicated gateways, enabling secure connectivity to permissioned networks, permissionless networks, ecosystems, consortia and other distributed technologies.
https://medium.com/@CryptoSeq/the-network-of-networks-scalable-interoperability-to-unleash-the-true-potential-of-blockchain-c54e7d373d2d
12/ Community members will also be able to run an Overledger gateway to further enhance the scalability, decentralisation and optimise network latency, providing enterprises, developers and users choice to use the closest gateway when accessing permissionless blockchains.
13/ The Overledger gateways will create a scalable p2p network that shares the transaction and volume between participants and chooses the closest or largest node to transact with
https://medium.com/@CryptoSeq/how-the-overledger-network-community-treasury-powers-the-network-of-networks-b716b01d8284
14/ Quant will be open sourcing the connectors so that anyone can connect their favourite blockchain to Overledger Network and benefit from increased adoption from the Enterprises, Developers and users of all the existing connected blockchains / networks.
15/ Partners: Quant have partnered with SIA, the leading financial network provider in Europe and both companies are confident that this development will play an integral part in building the financial infrastructure of the future globally
https://www.sia.eu/en/media-events/news-press-releases/quant-network-and-sia-successfully-tested-blockchain-interoperability
16/ SIA provide a private financial network which is the backbone of the European financial market. SIA and SWIFT are the only 2 providers for the Eurosystem Single Market Infrastructure Gateway, granting access to all RTGS, Securities and Instant Payment transactions for Europe.
17/ Overledger is integrated into SIAChain part of that private financial network (SIAnet) that is the backbone of the european financial market, enabling the 580 banks, central banks, trading venues that are building projects on SIAChain to benefit from scalable Interoperability
18/ Some of the largest blockcain projects in the world are being launched on SIAChain, one of those is the Spunta project.
Spunta is a huge project consisting of the entire italian banking system and looks to further expand into europe
https://www.r3.com/videos/italian-banking-association-and-r3/
19/ Another project building on SIAChain is Fideiussioni Digitali, a digital sureties project with the Bank of Italy sia.eu/en/media-event… as well as potential trial platform for digital euro
To read more about the partnership with SIA is a game changer
https://medium.com/@CryptoSeq/quant-network-partner-with-sia-a-game-changer-for-mass-blockchain-adoption-by-financial-9059ab411069
20/ Quant have partnered with Oracle (the 2nd largest Software provider in the world) as a Fintech Partner to deliver financial services infrastructure.
Quant are enabling #interoperability of DLTs to deliver mission-critical business applications and workloads for FS clients.
https://preview.redd.it/xmf4xk8irz751.png?width=1200&format=png&auto=webp&s=ccb0a86346deea037f439e3bfc968f50f9128f9b
https://preview.redd.it/p7uizctirz751.png?width=1012&format=png&auto=webp&s=331bf12514d557e1f4793b62eb6af27ef24f1d53
21/ Oracle invited Quant to attend the leading financial event of the year - SWIFT SIBOS where Oracle were co-marketing with Quant to take their solution to their 480,000 clients including meetings with Banks / Central Banks
https://preview.redd.it/78uvr1qkrz751.png?width=770&format=png&auto=webp&s=2a3c4b609041f8fdbd4e100c6866ca52a69214fe
22/ Another fantastic partnership is with @SimbaChain. It is a smart-contract-as-a-service (SCaaS) platform, enabling users across a variety of skill sets to implement dapps. They are developing on Overledger to allow them to deploy DAPPs across multiple connected blockchains.
23/ SIMBA Chain have recently been awarded a $9.5 million contract with the US Navy, they are also working with the US Air Force. They have a thriving ecosystem with over 2300 Organizations and 1150+ Applications developed.
https://cointelegraph.com/news/us-navy-bets-95m-on-blockchain-to-keep-messaging-secret
24/ Quant are working with clients in the Capital Market space such as AX Trading to bring more digital assets, securities and tokenised assets to their existing 800 institutional traders in an already live and connected FINRA and SEC regulated exchange.
https://medium.com/@CryptoSeq/wall-street-2-0-17252ffd8919
25/ @quant_network's Interchange enables FIAT to be representing on a blockchain enabling Delivery vs Payment across multiple blockchains with cross chain atomic swaps as well as integrating into existing payment rails such as Faster Payments, CHAPS, SEPA, SWIFT, PAY UK
https://preview.redd.it/ysnwozbprz751.png?width=1200&format=png&auto=webp&s=11fed83c8e99c4e9d5db55f84da95607296bf9cc
https://preview.redd.it/0xxkr52qrz751.png?width=924&format=png&auto=webp&s=54dab97f9128a9fc92352fd223fec1fa093b663e
26/ Enormous traditional exchanges like Fidelity, SIX, Nasdaq, Deutsche Borse will soon be entering the space, offering Digital Assets that are traded today on Crypto exchanges as well as tokenising Stocks, bringing in enormous amounts of investment from institutional investors.
27/ Quant were made a guarantor of Pay.uk - the UK’s largest payment network. Through this relationship, Quant will shape the payment ecosystem and help set the strategic direction of the Payments infrastructure and adopting the New Payments Architecture (NPA).
https://preview.redd.it/obzmq90trz751.png?width=770&format=png&auto=webp&s=a219a30246b644a9c38e0205b5eb2426cbbb6d8b
28/ Quant have also partnered with AUCloud and UKCloud to provide highly secure and interoperable Blockchain-as-a-Service for Australian Government and Defence and the critical national industries and supply chains that serve the nation.
https://www.quant.network/blog/quant-network-and-aucloud-partner-to-provide-worlds-first-blockchain-operating-system-for-government-and-critical-national-industries
29/ And others such Crowdz a leading blockchain-based trade finance company who are partnered with Barclaycard and recently received $5.5 million Series A Investment from Barclays Bank and others
As well as being a member of Hyperledger, MOBI and more
https://medium.com/@CryptoSeq/large-enterprise-adoption-of-blockchain-is-happening-enabled-by-quant-networks-overledger-32321b650115
30/ The Team: Gilbert Verdian the CEO - his CV speaks for itself. Before starting Quant he was the Chief Information Security Officer for Vocalink (Mastercard) and was in charge of security for the entire payments in the UK managing £6 Trillion per year
https://www.gilbertverdian.com/cv/
31/ Martin Hargreaves recently joined as Chief Product Officer. He has 12 years experience at Vocalink and was the Vice President of Product. Vocalink (Mastercard) manage the entire payments system for the UK as well as other payment networks in the US, Singapore
https://preview.redd.it/ko5sxwbyrz751.png?width=1200&format=png&auto=webp&s=a098d33d7fb48a8354c508b43dbf7e2bfc65c56c
32/ Guy Dietrich the managing director of Rockefeller Capital (who manage assets worth over $30 billion) joined the board of directors and has attended meetings personally with Gilbert such as with the Financial Conduct Authority in the UK
https://preview.redd.it/ovmrhejzrz751.png?width=619&format=png&auto=webp&s=065a65e6515e34d3194b0d3e3c5caa933d589283
33/ Gilbert founded ISO TC 307, the globally recognized standard which has 57 countries working towards. This is vitally important for Enterprise / Government adoption and designed from the start to adhere to those rather than have to redesign it later.
https://preview.redd.it/a79wp7o0sz751.png?width=1200&format=png&auto=webp&s=0d5e4c787f19bc383aa733e53033c01f331e5a3a
34/ Not only do they have enormous meaningful partnerships, advanced tech that's solving a problem which is very much needed and an excellent team, they also have the best tokenomics i have seen in a project and is integral to everything.
https://preview.redd.it/vu853iycvz751.png?width=1345&format=png&auto=webp&s=3625ebb93975954ed273ab29e01ee29f80ecca8a
35/ Hedge against Inflation - has a total supply of just 14.6 million, no inflation, no new tokens minted and no huge % of tokens controlled by the team waiting to be released. Circulating supply is 12 Million which will reduce over time with QNT being locked up for licenses
36/ Whether it's #Bitcoin, Stable Coins, #DeFi, Central Bank Digital Currencies that come out on top or a combination of all, @quant_network is working with them all, connecting , , and working with multiple Central Banks all leading to more demand / usage of
37/ @Overledger has been designed to be future proof by not being a blockchain itself and performing #interoperability at a layer above, learning from what made TCP/IP so dominant after 40+ years. Whether it be Blockchain 1.0, 2.0, 3.0.. it doesnt matter,$QNT can connect them all
38/ Whether it be Permissioned or Permissionless Blockchains, @Overledger can connect them all. Currently $BTC, $ETH, $XRP(L), $EOS, $XLM, $IOTA, $DAG, #Corda, #Hyperledger, #Qurorum. $QNT is one of very few tokens that are needed even in a Permissioned Enterprise environment.
39/ Sustainable Business Model - Earning revenue (on track for $10 million last year), moving into an office twice the size in the UK and currently hiring 6 additional employees and expanding to other parts of the world despite the uncertainty many are facing.
40/ is needed for licenses, consumption fees, gateways (staking for higher throughput), signing of messages on #Overledger, minimum holdings of QNT.will be locked up reducing circulating supply so not just bought then immediately sold and needed by all inc enterprises
41/ Provides what all projects need - true scalable #interoperability not just between blockchains but legacy systems as well. With no added overhead of an additional consensus mechanism, doesn't impose restrictions or require connected chains to fork their code. Anybody can join
https://preview.redd.it/16pdtu59sz751.png?width=679&format=png&auto=webp&s=064d031b5d24760511b15b4c2b6a78cf9ac5ec89
43/ For Tokenomics see @quant_network's Utility Paper https://bit.ly/2xc25mA and @DavidW___'s article https://medium.com/@davW/a-deeper-look-into-the-quant-network-utility-token-qnt-valuation-dynamics-and-fundamentals-84633ca7cb58
https://twitter.com/CryptoSeq/status/1277555274405068801
https://threadreaderapp.com/thread/1277555274405068801.html


submitted by xSeq22x to CryptoCurrency [link] [comments]

The Network of Networks, Scalable Interoperability to Unleash the True Potential of Blockchain

The Network of Networks, Scalable Interoperability to Unleash the True Potential of Blockchain
There is not going to be one blockchain to rule them all, each have their own advantages and disadvantages. Interoperability is key to unlocking the true potential of blockchain, where it will have a profound effect across all industries, creating a secure, trusted and hyper-connected world.
The rise of The Networks of Networks, interconnecting all DLT Networks, existing off-chain networks and even the Internet itself. Where true, scalable interoperability can be achieved without requiring connected chains to fork their code and imposing limitations, without the overhead, bottleneck and single point of failure of adding another blockchain in the middle. Where it will be quick, easy and free to participate.
It’s time to stop the childish tribalism that’s plagued this space for so long and realise the bigger picture. Tribes fighting amongst themselves over a tiny insignificant island where there is a whole world out there to conquer if they work together. A rising tide lifts all boats and with the birth of The Network of Networks all connected projects can benefit from the efforts of each other, to usher in Mass adoption of Blockchain.
https://preview.redd.it/wlwj7pmmyoi41.png?width=683&format=png&auto=webp&s=34918b25c8ef6303fc5579666352e8c8c52c4835
In this article I will discuss the foundations that are being laid in preparation for the release of Overledger Network, The Network of Networks to make all of this possible and to unleash the true potential of blockchain with a secure, hyper-connected decentralised ecosystem. Table of Contents:
  1. Overledger SDK Update
  2. Standards
  3. Security
  4. Regulation
  5. Overledger Network
  6. The Five Ingredients of Interoperability
  7. Connecting Blockchain and Non-DLT Applications / Networks to Overledger
  8. Connecting the Internet directly to blockchain
  9. Join your favourite Blockchain project to the Overledger Network Ecosystem

Overledger SDK Update

Quant have just released their Overledger SDK update which has enabled standardisation of objects to abstract and simplify how to interact with different types of blockchains (UXTO and Account-based) in a common model. As well as the ability to directly deploy, invoke and query smart contracts directly through Overledger. I strongly recommend reading the teams Overledger SDK Update which explains it in more detail and includes example use cases of how Overledger is being used and the benefits it brings. Dr Luke Riley also did a fantastic job providing an in-depth demo of the Overledger SDK Update via Video as well.
https://youtu.be/PbpaZpe4mTQ

“This update sets the foundations to build the ecosystem for Overleger Network, allowing stakeholders other than Quant to write any type (DLT and non-DLT) Overledger connectors and sets up the ecosystem with multiple entry points for Overledger Gateways. These updates open up the integration capabilities of Overledger to 3rd parties and create the foundations for the Overledger Network”

Standards

“Trusted standards mean that industry doesn’t need to reinvent the wheel, that innovations will be compatible and work with existing technology, and that products and services will be trusted too. Governments use standards as trusted solutions to complement regulation, and they give peace of mind to consumers who know they are not putting themselves or their families at risk.” — Acting ISO Secretary-General Kevin McKinley
The foundations need to align with internationally recognised standards as they play a crucial role in ensuring interoperability with new and existing technology and validates a product meets the best practices / regulation required to ensure Enterprises remains in compliance. CEO of Quant, Gilbert Verdian, founded the ISO TC 307 standard covering blockchain as a whole, which 56 countries are working towards today.
Countries involved with ISO TC 307 — https://www.iso.org/committee/6266604.html?view=participation
Gilbert Verdian is the chairman for the ISO TC 307 working group for interoperability of blockchain and distributed ledger technology systems as well as being chairman for Blockchain and Distributed Ledger Technology for BSI (British Standards Institution) which represent the UK and includes companies such as Quant, IBM, Microsoft, HSBC, BAE Systems, Huawei as well as a number of UK Government bodies such as BEIS — Department for Business, Energy & Industrial Strategy, Defence Science and Technology and the National Cyber Security Centre.
The standardisation updates to the Overledger SDK aligns with the work in ISO TC 307 and academic work from Dr Paolo Tasca and Dr Claudio Tessone to provide users with a clear distributed ledger data standard. This will enable everyone to easily create connectors in a standard way, facilitating interoperability with all of the connected blockchains / non-DLT networks that are already connected to Overledger through Overledger Gateways.

Security

Cybersecurity is in Quant’s DNA. The team have a rich heritage of working for Governments, banks and industry for over 20 years protecting organisations and people from security threats. Before Quant, Gilbert Verdian was the Chief Information Security Officer for Vocalink (Mastercard) where he was in charge of security for the entire payments infrastructure in the UK (£6 Trillion per year).
Gilbert has led a team determined to take security to another level, protecting a critical part of the UK’s infrastructure, protecting UK citizens and businesses from fraud and risk and, by extension, allowing them to live as they want to. Under Gilbert’s guidance, Vocalink security is not merely best-in-class, but setting a new standard. — https://connect.vocalink.com/2017/july/a-winning-streak/
In addition to Quant being selected as a Guarantor for Pay.UK, Gilbert has also been appointed to the Cybersecurity Advisory Board (Pay.UK is the UK’s leading retail payments authority and runs the UK’s retail payments operations, which includes Bacs, Faster Payments and Cheques.)
The pillars of security are Confidentiality, Integrity and Availability. As such, they have used their experience in running payment and financial infrastructure and critical national infrastructure for nations and embedded these principles into every aspect of Overledger.

Regulation

Regulation is playing an ever increasing role for blockchain. Standards and Security naturally complement and help define regulation. The verticals Quant are involved in with regards to regulation span the globe. Gilbert helped shape the conversation about consumer data protection rights during his time as CISO of NSW Health, and is continuing to serve as a cornerstone for policy within the adoption of blockchain in public infrastructure. Quant serves as a founding member of INATBA (The International Association of Trusted Blockchain Applications), which is the formal governing body of the European Blockchain Partnership, all of which is overseen in Brussels by the EU. More locally, Gilbert and team are in consistent contact with the House of Lords within the UK, and advises the FCA in matters regarding cryptoassets.
https://preview.redd.it/9eynt6jpyoi41.png?width=735&format=png&auto=webp&s=c6073e7717ece1c8b878e02e34c9e359e3282fd7
As recently seen in the SDK update, Overledger can serve as a key component of automatic compliance of governance bodies’ financial regulation, shown here by an Overledger instance reporting to the BoE’s Prudential Regulation Authority. Project BARAC, stewarded by University College London, is a project examining the impact Automatic Regulation as administered by Blockchain can have on the Federal Government. Most notably, the FCA and R3, the developers of Corda, are involved here. Gilbert’s recent engagements with the Federal Reserve Bank of Boston also seem to revolve around this very topic, with the Boston Fed pilot-testing a Supervisor Node for automatic regulatory compliance. While at P2PFISY 2019, it was noted by Gilbert that Raphael Auer’s “Regulation Automata” aligns very well with the vision of Overledger, with Paolo Tasca, former CSO of Quant, more recently co-hosting a recent blockchain panel with him. Raphael’s ideas will most likely be taken into consideration by the BIS, as they recently announced a trial of a 6 central banks collaboration centered around exploring CBDC, and are in the early stages of installing Innovation Hubs in Hong Kong, Switzerland, and Singapore.
Gilbert Verdian with Guy Dietrich (Managing Director at Rockefeller Capital who is also on the Board at Quant) attending a meeting with the Financial Conduct Authority

Overledger Network

https://preview.redd.it/1wgbdybryoi41.png?width=1684&format=png&auto=webp&s=baf87b413947a19e745fcd859c0706a1cf8570b2
The Overledger Network is a network of networks, which allows enterprise and communities stakeholders to access and participate in a growing hyper-connected decentralised ecosystem. Enterprises, banks, central banks, trading venues, etc will be able to host their own secure dedicated gateways, enabling secure connectivity to permissioned networks, permissionless networks, ecosystems, consortia and other distributed technologies. Community members will also be able to run an Overledger gateway to further enhance the scalability, decentralisation and optimise network latency, providing enterprises, developers and users choice to use the closest gateway when accessing permissionless blockchains. The Overledger gateways will create a scalable p2p network that shares the transaction and volume between participants and chooses the closest or largest node to transact with.
As per the example use case in the recent update a Bank can run an Overledger Gateway to provide access to the various consortiums hosted on a variety of blockchains including Corda, Hyperledger Fabric and JP Morgan’s Quorum as well as access to the legacy / non-DLT platforms. Should they want to utilise a public blockchain as well in a hybrid scenario then they also have the option of using a Overledger Gateway hosted by a community member.
https://preview.redd.it/veb0q18syoi41.png?width=1096&format=png&auto=webp&s=c8ea3bedd09e16e548c6da938d50f3b245e18ac6

https://preview.redd.it/r9j1v04tyoi41.png?width=1252&format=png&auto=webp&s=ae9cc70a01f6360550d7f1f00e046d9b801b89a1
The Overledger Gateways contain several layers which we will explore some of their features below:

Overledger Operating System

https://preview.redd.it/9v7rxtmvyoi41.png?width=1197&format=png&auto=webp&s=01c9d6e0a73f595283e3cebeb45b5a6bf484d94d
Overledger allows connection to any blockchain / DAG as well as easily integrating with existing non-DLT environments. It does this without adding the overhead of yet another blockchain / consensus in the middle, ensuring that it’s scalable and doesn’t contain a single point of failure. Nor does it require the connected blockchains to fork their code to integrate and place restrictions on what can be implemented going forward. All of this is done in a secure, trustless manner where transactions are signed and encrypted client side so the contents can’t be viewed / modified as they pass through Overledger. It currently connects all of the leading permissioned and permissionless blockchains used by enterprises today. This article explains the differences between other interoperability solutions and the benefits of Quant’s approach

The Five Ingredients of Interoperability:

Recently there was an interoperability webinar with Fintech connect with speakers such as R3’s CTO Richard Gendal Brown, along with representatives from the Bank of England, Deutsche Boerse, Nasdaq, ArchaxEx and SwissRe. Richard Gendal Brown from R3 wrote about the Five key Ingredients of Interoperability:
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  1. INTEGRATE with existing business systems — Businesses aren’t going to replace their existing applications for new blockchain ones, they need to integrate with their existing systems.
  2. INITIATE Payments on existing rails or blockchain rails — Needs to be able to make a payment / settlement using a wide variety of existing payment rails (off chain) as well as blockchain rails, ensuring delivery vs payment can be achieved with certainty that they have happened.
  3. INTERCHAIN applications and smart contracts that can be deployed / executed across protocols — Enabling a solution built on Corda such as Marco Polo to easily connect to a solution on another platform such as Vakt on Ethereum or CargoSmart on Hyperledger Fabric etc
  4. INTRACHAIN applications that benefit from value add of same underlying protocol — What happens when networks such as Marco Polo and Contour both running on Corda want to interoperate and the additional value and benefit that can be achieved.
  5. INTERCHANGE applications to switch platforms — What happens if you want to interchange one platform for another. Can you achieve that holy grail of interoperability by being able to be completely agnostic to the underlying platform?
Overledger meets all of these key ingredients in performing interoperability. Overledger enables existing business systems to benefit from blockchain connectivity by adding as little as 3 lines of code to their existing applications. No need to completely rewrite / replace their existing systems and all done in the most common programming languages such as Java and JavaScript.
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At QuantX in December they announced Overledger Interchange which enables settlement on a variety of existing non-dlt payment rails such as Faster Payments, BACS, CHAPS, SEPA, SWIFT as well as on DLT payment rails such as with Central Bank Digital Currencies, Stablecoins and XRP. It also facilitates Cross Chain Atomic Swaps using Hash Time Locked Contracts ensuring Delivery vs Payment is achieved. Interchange is at the centre of the discussions Quant has had with traditional exchanges in capital markets and central banks and is a technology financial services have been missing and was built it address client needs.
Overledger enables interoperability within the same ecosystem such as Corda DAPP to another Corda DAPP etc as well as interoperability between any of the connected permissionless and permissioned blockchains.
Quants blockchain agnostic Operating System enables users to benefit from using the best features from different chains in combination and migrate between them, preventing Vendor or Tech Lock in without having to completely rewrite existing applications, achieving the holy grail of interoperability. It enables developers to quickly test a variety of connected blockchains in a sandbox environment to see which is best suited for their requirements, starting with just 3 lines of code.

Transactions Services Layer

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The Transaction Services layer handles more complex features of Overledger. Allowing for applications to request services such as cross-chain atomic swaps, treaty contracts (Multi Chain Smart Contracts as well as enabling smart contract functionality even on blockchains that don’t support smart contracts natively such as Bitcoin) and transaction brokering (using heuristic analysis to determine which method is the fastest / cheapest out of the various payment rails)

Financial Services Layer

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Financial services features can be called upon by participants and applications to use crosschain and cross-platform. Financial Services specific use cases can use the features in Overledger to operate across networks. This layer provides enhanced privacy and security to regulated entities and institutions who require additional controls to maintain compliance to regulation and security policy. The features of Zero-knowledge Proof and privacy can be mandated for all transactions.

Channels Layer

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Channels provide interoperability of services related to digital assets, payments and tokenisation. The Overledger Network allows for participants to transfer interoperate enterprise and institutional issued tokens and assets. Connect to many existing payment rails such as SWIFT, SEPA, Faster Payments etc.
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Connecting Blockchain and Non-DLT Applications / Networks to Overledger

The connectors to Overledger which grant access to Overledger Network will be open source and soon be made available, allowing for anyone to create a connector and benefit from being part of the ecosystem. Currently the permissionless blockchain space is mostly speculation with little adoption, mainly due to issues that need to be resolved such as scalability, privacy and regulation with permissionless blockchains, however there are some extremely large Enterprises, Banks, Governments, even Central Banks getting heavily involved and going into production albeit mostly in the permissioned blockchain space where such issues are not a problem. Just as each Blockchain has its advantages and disadvantages, parts of Enterprise applications are better suited to Permissioned blockchains (such as more sensitive parts) and permissionless blockchains suited for a higher degree of immutability, thus a Hybrid model requiring interoperability between permissioned, permissionless as well as existing non-DLT applications is required arguably for many years ahead. Just as with cloud computing where everything didn’t suddenly just move up into the cloud, well over a decade later since the birth of the likes of Amazon AWS, hybrid is still very prevalent today with only recently the likes of central banks, banks, governments discussing moving more sensitive workloads to public clouds such as Amazon AWS, Microsoft Azure, Oracle Cloud etc.

SIA, Central Banks, Banks, Trading Venues

Quant Network partnered with SIA, a game changer for mass blockchain adoption by Financial Institutions. SIA is the leading financial network provider in Europe that connects over 570 Banks, Central Banks, Trading Venues (stock exchanges etc) to their infrastructure. They provide a dedicated private network / infrastructure for financial institutions. Every European financial institution will either connect via SIA, in partnership with Colt or via SWIFT (and in many cases they will have connectivity with both) in order to access the Eurosystem Single Market Infrastructure Gateway, granting access to all RTGS, Securities and Instant Payment transactions for Europe.
SIA have integrated Overledger into their private infrastructure covering Europe consisting of 570 supernodes called SIAChain which enables each bank, central Bank, trading venue etc to utilise Overledger for interoperability. Some of the largest deployments of blockchain are happening on SIAChain such as the Spunta project where the entire Italian Banking Sector will be using blockchain and due to go live next month. As well as the “Fideiussioni Digitali” initiative (Digital Sureties) to digitize the management of sureties using blockchain technology with the Central Bank of Italy involved.
Central Bank Digital Currencies are going to play a hugely significant role in the future and there is one central Bank currently testing Overledger and Quant are in discussions with 4 others.
Connecting your blockchain / legacy network to Overledger enables the possibility that it could be used by any of these connected Banks, Central Banks, Trading venues etc in their private network (obviously due to the amount of regulation and critical financial infrastructure the options are going to be limited on what they want to connect).
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Oracle

Quant are a Fintech Partner with Oracle, the 2nd largest software company in the world and Oracle are taking Quant’s tech to their clients directly. They have 480,000 clients globally and towards the end of last year Oracle invited Quant to attend Sibos (SWIFT) where they met existing financial services and banking clients and introduced to new ones. By connecting to Overledger this also enables your solution to potentially be used by those 480,000 of Oracle’s global clients.
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SIMBA Chain

SIMBA Chain is a cloud-based, smart-contract-as-a-service (SCaaS) platform, enabling users across a variety of skill sets to implement dapps (decentralized applications). The easy-to-use platform is tailored for users, developers, government, and enterprises to quickly deploy blockchain dapps for their enterprise. SIMBA Chain are developing on Quant’s Overledger Blockchain OS to allow them to deploy DAPPs across multiple connected blockchains.
SIMBA Chain have recently been awared a $9.5 million contract with the US Navy, they are also working with the US Air Force. They have a thriving ecosystem with over 1100 Organizations and 650+ Applications developed. Partners include Microsoft, Government Blockchain Association, Air Force Research Laboratory, Caterpillar, SAP and EY. Recently they also integrated Unity 3D plugin for Gaming to enable owning, storing, and managing all personal gaming assets across a variety of blockchains.
These are just a few of the companies that Quant have partnered with directly, but the ecosystem for Overledger Network is the Network of Networks. Every connected blockchain (Bitcoin, Ethereum, Ripple (XRPL), EOS, Stellar, IOTA, DAG, R3’s Corda, Hyperledger Fabric, JP Morgan’s Quorum and other Permissioned Variants of Ethereum) and their associated partners / applications built on them have the ability to connect and interoperate with the other blockchains connected as well as non-DLT networks such as existing payment rails like SWIFT, Faster Payments, SEPA etc. This Network of Network’s effects will grow exponentially as more and more join the ecosystem.
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Connecting the Internet directly to blockchain

Quant Network are also developing the ability to allow developers to build MAPPs that integrate directly with the internet as well as blockchain data. They will enable this via creating a new IP address for blockchains which they are calling Quant IP which will enable traffic to be routed from an IP connection from the Internet through Overledger to the connected blockchains.
Another Quant product called Seeq is a distributed search engine that is able to search and retrieve data from multiple blockchains and display them via html directly from the blockchain. More details will be released about Seeq later this year.
Connecting the Internet directly to blockchain will allow websites to be natively created and served directly from blockchains, without the need to have, run and maintain web servers, web services, SSL certificates etc and all running in a completely trusted, extremely resilient / tamperproof environment. The implications of this are enormous and more details will be released by the team later on this exciting prospect. By connecting your blockchain to Overledger you will also be able to benefit from this.

Join your favourite Blockchain project to the Overledger Network Ecosystem

Instead of the current mentality of having the main focus for many projects of listing on exchanges for vast sums of money, why not spend a little time (connectors can be created in as little as a week of development and don’t necessarily even need to be created by the team themselves) and make your blockchain / non-DLT application available to be used by all existing enterprises / members. Not only that but if you also run an Overledger Gateway connecting your blockchain node you also benefit from the transaction fees of the traffic going to it. The connectors are open source and completely free to connect and now with the standardisation of Objects in the recent SDK update the foundations are in place for the launch of Overledger Network with an ETA of Q2 2020. If you would like your favourite blockchain project to interoperate and be part of the ecosystem to further adoption then make the relevant people aware and keep an eye out for further details released in the future.

https://medium.com/@CryptoSeq/the-network-of-networks-scalable-interoperability-to-unleash-the-true-potential-of-blockchain-c54e7d373d2d

Thanks to community member Ghost of St. Miklos for contributing the section about regulation as well as Sonic for proofreading.
You can find more about Overledger Network as well as the token utility — here and community member David W. wrote an excellent article “A deeper look into the Quant Network Utility Token (QNT) valuation dynamics and fundamentals”
What is a blockchain operating system and what are the benefits? Introducing Overledger from Quant Network.
Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading
Large Enterprise Adoption of Blockchain is happening, enabled by Quant Network’s Overledger
As well as an 8 Part Series taking an indepth look at Overledger starting with Part 1
submitted by xSeq22x to QuantNetwork [link] [comments]

Sep 4 AMA SUMMARY - GILBERT VERDIAN, QUANT FOUNDER & CEO

GIL: Hi All, got about 15mins and thought to drop by.
GIL: Thank you all for the complements regarding the Forbes article. Got even more recognition from Linkedin, with clients, colleagues and supporters from large companies and governments all of the world. We're very lucky to be surrounded by such wonderful people.
Q: How are things progressing with SIA?
GIL: SIA's going very well and new announcements are coming shortly. All the stakeholders involved are very pleased with the progress and what has been accomplished.
Q: Hi Gilbert, congratulations on the Forbes piece! That was a nice update given all the fud the days before, I'm sure you read about 😉
GIL: Yes we get a lot of fud unfortunately and are dealing with it. Our clients and partners don't follow what is said on platforms such as 4chan and youtube, they only look at coprorate channels like Gartner, Forbes, FT etc.
Q: How is the team expansion going? And US plans?
GIL: We have Luke Riley who's heading up Quant Labs that has joined us this week and a new Lead Solutions Engineer starting in September. We're making public announcements on these
Q: Hi Gil, can you give us an update on any progression within health in the UK?
GIL: We're working with 2 Health departments which are not in the UK and now in the early discussions with a very large Health provider in the US
Q: Will there be an official announcement regarding HCL as it was with SIA?
GIL: Yes when we sign and announce partnerships it will be publicised. We are currently working with 2 of the Big 4 global consultancy firms who are taking our technology to their clients.
Q: re: health you've mentioned a consortium.... is that related to the 2 health departments you just mentioned or a seperate thing?
GIL: Yes
Q: Gilbert anything you can share us UUT related?
GIL: We're working on this. There will be expanded use of the QNT token related to gateways and providing enterprise and the community to the opportunity to be part of the network.
Q: You had mentioned previously the team had been working with Binance for months - is there something further to come beyond the connector integration?
GIL: We've delivered the binance connector as we promised and on time. This allows our institutional and enteprise clients to create multichain applications and use cases from their private permissioned networks to public blockchains like binance chain for the first time. We're bridging the traditional financial world with the new decentralised financial infrastructure for the first time. We are working with banks in the US that are doing this with us.
Q: Will we be seeing more public testnets added to the community SDK anytime soon?
GIL: Yes new ones coming this month plus mainnets. Enabling hyper-decentralisation across private permissioned and public permissionless blockchains.
Q: Will the capital raise be private or public?
GIL: Can't comment on this as yet we're exploring our options
Q: A word on the $10million revenue from the forbes article? I assume it is comprised from multiple sources besides licenses.
GIL: Yes.
Q: Hi Gil any comments on simbachain?
GIL: We have a call with them today to collaborate on the US Air Force engagement and deliver our technology to the military
Q: Any new updates on the hyperledger quilt reboot? And is colin still apart of that?
GIL: Haven't got an update, we're working with Quilt and are a Hyperledger member.
Q: Hiya Gilbert, any updates on the teams involvement with MOBI?
GIL: Yes, we've been asked to respond to an interoperability use case and RFP which we're happy to do
Q: Any comment on recent departures?
GIL: Yes, people come and go and we have new people who've joined, like any other company.
Q: Its been a pretty busy 2019 for you and the team so far.. how do you reflect on the past 9 months and what you've achieved?
GIL: We've delivered one of the biggest, or the
biggest blockchain implementation in financial services in the world solving interoperability at scale covering financial infrastructure. Now we're focusing on capital markets and tokenisation of securitites and digital assets in a trillion dollar market. We're very exciting with the clients and partners we have and the new work we're doing. We're now responding to new client requests, one of them being the European Space Agency and also Government, we met the FCA and also HMRC.
Q: Hi Gilbert , any plans to bring your technology to your NSW Health friends ?
GIL: Watch this space, something brewing in the Australian Government
Q: CVS Health is #1 pharmacy brand in USA with a humongous customer base? Any chances they can use Overledger
GIL: We are speaking to other large health providers in the US at a similar scale, using what we've already done in Healthcare and applying it to the US market
Q: Hi Gil 🙂 there has been some confusion about this: will Quant be listed on traditional exchanges this year or is it an idea to be evaluated in the future?
GIL: I said that digital assets will be listed on traditional exchanges by the end of the year. We're already seeing the adoption of this with SIX SDX in Europe and others in the US. We're working with AX to bring more digital assets to 800 institutional traders in an already live and connected and FINRA & SEC regulated exchange. If this isn't adoption by Wall St, I dont' know what else is!
Q: How big is the Total Addressable Market (TAM) that Quant/Overledger can serve..
GIL: Well, when you have finanical infrastructure and capital markets infrastructure globally that is powered by QNT, it's the entire financial system globally. Plus central banks now getting into this space with CBDC.
Q: Hopefully teir 1 soon for the volume thats going to be required
GIL: Let's all please stop the constant when exchange requests. We've heard you, we understand your concerns and are dealing with it. Our focus is to deliver our technology, onboard clients and drive value and mass adoption which is all reliant on QNT, in line with our utility token model and approach.
Q: Do you think Carney's recent idea about the sintethic hegemony currency is feasible?
GIL: Yes, I worked at the Bank of England. They have been working on this for quite a while, so are other central banks. I even had a call with another central bank this morning
Q: Great progress👍🏻 Are the clients already „locking in“ quant token for license?
GIL: Yes, there are now around 300 registered organisations in our developer portal that are using Overledger and QNT and these *do* include multiple global banks.
Q: Hi Gilbert, are you still in touch with Cisco about potential Overledger integration?
GIL: We're taking another approach which has wider use and access than Cisco
Q: Is the growth curve getting more vertical or is it a stable increase
GIL: We've seen an increase from steady organic growth to more clients engaging us directly now. Thanks to the recognitions in Gartner, Oracle and our partners.
We're expecting more new leads as Oracle's financial services team is taking Overledger to Oracle's clients directly. They have 480,000 clients globally and now are co-marketing with Oracle at Sibos in a couple of weeks. Where we are meeting existing financial services and banking clients and will be introduced to new ones.
Q: Wasn't there talk about a 4 bn company located in asia?
GIL: $8B - that was HCL
Q: Does quant have any involvement with Australian open banking through data61 etc
GIL: Yes, we're help shape the policy to Consumer Data Rights (open banking) which Data61 are also involved.
Q: Mr V, would love to see you have another chat with Brad Laurie.
GIL: It's on the cards
Q: When will client token lockup start to make demand impact price any way for us to see how many are locked?
GIL: The more clients that use Overledger through licensing and transaction fees paid by QNT the more QNT is used.
Q: Are you working on Qnt staking?
GIL: We're working on the Overledger gateways. More coming on this.
Q: There will be a dashboard later, No ETA
GIL: I've said, we already have the first versions of the dashboard in the developer portal. We'll evolve this as we progress
Q: I'm overloaded gil cheers what a suprise. That current market cap tho 🤭
GIL: Our focus is our clients and using our technology by real world usage and adoption. This will naturally be reflected in the market cap. We're not a cryptocurrency or a company that wants to be bitcoin. We're here to rearchitect and implement the new financial infrastructure to bring about mass adoption of blockchain and hyper-decentralisation to benefit people. The last time this opportunity came about was in the 1960's when we moved to electronic financial systems.
Q: Hey Gil, any chance we could have a more organised reddit AMA?
GIL: You know, our clients don't value any of the Reddit chatter in /cc or others. Our clients simply don't read it and don't know about it. If we are on reddit or a similar platform or not, it doesn't matter to them. Actually it doesn't matter to us either
GIL: Sorry have to drop off, have a call with the CTO of one of the Big 4 consultancies now.
submitted by robis87 to QuantNetwork [link] [comments]

The Network of Networks, Scalable Interoperability to Unleash the True Potential of Blockchain

The Network of Networks, Scalable Interoperability to Unleash the True Potential of Blockchain
There is not going to be one blockchain to rule them all, each have their own advantages and disadvantages. Interoperability is key to unlocking the true potential of blockchain, where it will have a profound effect across all industries, creating a secure, trusted and hyper-connected world.
The rise of The Networks of Networks, interconnecting all DLT Networks, existing off-chain networks and even the Internet itself. Where true, scalable interoperability can be achieved without requiring connected chains to fork their code and imposing limitations, without the overhead, bottleneck and single point of failure of adding another blockchain in the middle. Where it will be quick, easy and free to participate.
It’s time to stop the childish tribalism that’s plagued this space for so long and realise the bigger picture. Tribes fighting amongst themselves over a tiny insignificant island where there is a whole world out there to conquer if they work together. A rising tide lifts all boats and with the birth of The Network of Networks all connected projects can benefit from the efforts of each other, to usher in Mass adoption of Blockchain.
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In this article I will discuss the foundations that are being laid in preparation for the release of Overledger Network, The Network of Networks to make all of this possible and to unleash the true potential of blockchain with a secure, hyper-connected decentralised ecosystem. Table of Contents:
  1. Overledger SDK Update
  2. Standards
  3. Security
  4. Regulation
  5. Overledger Network
  6. The Five Ingredients of Interoperability
  7. Connecting Blockchain and Non-DLT Applications / Networks to Overledger
  8. Connecting the Internet directly to blockchain
  9. Join your favourite Blockchain project to the Overledger Network Ecosystem

Overledger SDK Update

Quant have just released their Overledger SDK update which has enabled standardisation of objects to abstract and simplify how to interact with different types of blockchains (UXTO and Account-based) in a common model. As well as the ability to directly deploy, invoke and query smart contracts directly through Overledger. I strongly recommend reading the teams Overledger SDK Update which explains it in more detail and includes example use cases of how Overledger is being used and the benefits it brings. Dr Luke Riley also did a fantastic job providing an in-depth demo of the Overledger SDK Update via Video as well.
https://youtu.be/PbpaZpe4mTQ

“This update sets the foundations to build the ecosystem for Overleger Network, allowing stakeholders other than Quant to write any type (DLT and non-DLT) Overledger connectors and sets up the ecosystem with multiple entry points for Overledger Gateways. These updates open up the integration capabilities of Overledger to 3rd parties and create the foundations for the Overledger Network”

Standards

“Trusted standards mean that industry doesn’t need to reinvent the wheel, that innovations will be compatible and work with existing technology, and that products and services will be trusted too. Governments use standards as trusted solutions to complement regulation, and they give peace of mind to consumers who know they are not putting themselves or their families at risk.” — Acting ISO Secretary-General Kevin McKinley
The foundations need to align with internationally recognised standards as they play a crucial role in ensuring interoperability with new and existing technology and validates a product meets the best practices / regulation required to ensure Enterprises remains in compliance. CEO of Quant, Gilbert Verdian, founded the ISO TC 307 standard covering blockchain as a whole, which 56 countries are working towards today.
Countries involved with ISO TC 307 — https://www.iso.org/committee/6266604.html?view=participation
Gilbert Verdian is the chairman for the ISO TC 307 working group for interoperability of blockchain and distributed ledger technology systems as well as being chairman for Blockchain and Distributed Ledger Technology for BSI (British Standards Institution) which represent the UK and includes companies such as Quant, IBM, Microsoft, HSBC, BAE Systems, Huawei as well as a number of UK Government bodies such as BEIS — Department for Business, Energy & Industrial Strategy, Defence Science and Technology and the National Cyber Security Centre.
The standardisation updates to the Overledger SDK aligns with the work in ISO TC 307 and academic work from Dr Paolo Tasca and Dr Claudio Tessone to provide users with a clear distributed ledger data standard. This will enable everyone to easily create connectors in a standard way, facilitating interoperability with all of the connected blockchains / non-DLT networks that are already connected to Overledger through Overledger Gateways.

Security

Cybersecurity is in Quant’s DNA. The team have a rich heritage of working for Governments, banks and industry for over 20 years protecting organisations and people from security threats. Before Quant, Gilbert Verdian was the Chief Information Security Officer for Vocalink (Mastercard) where he was in charge of security for the entire payments infrastructure in the UK (£6 Trillion per year).
Gilbert has led a team determined to take security to another level, protecting a critical part of the UK’s infrastructure, protecting UK citizens and businesses from fraud and risk and, by extension, allowing them to live as they want to. Under Gilbert’s guidance, Vocalink security is not merely best-in-class, but setting a new standard. — https://connect.vocalink.com/2017/july/a-winning-streak/
In addition to Quant being selected as a Guarantor for Pay.UK, Gilbert has also been appointed to the Cybersecurity Advisory Board (Pay.UK is the UK’s leading retail payments authority and runs the UK’s retail payments operations, which includes Bacs, Faster Payments and Cheques.)
The pillars of security are Confidentiality, Integrity and Availability. As such, they have used their experience in running payment and financial infrastructure and critical national infrastructure for nations and embedded these principles into every aspect of Overledger.

Regulation

Regulation is playing an ever increasing role for blockchain. Standards and Security naturally complement and help define regulation. The verticals Quant are involved in with regards to regulation span the globe. Gilbert helped shape the conversation about consumer data protection rights during his time as CISO of NSW Health, and is continuing to serve as a cornerstone for policy within the adoption of blockchain in public infrastructure. Quant serves as a founding member of INATBA (The International Association of Trusted Blockchain Applications), which is the formal governing body of the European Blockchain Partnership, all of which is overseen in Brussels by the EU. More locally, Gilbert and team are in consistent contact with the House of Lords within the UK, and advises the FCA in matters regarding cryptoassets.
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As recently seen in the SDK update, Overledger can serve as a key component of automatic compliance of governance bodies’ financial regulation, shown here by an Overledger instance reporting to the BoE’s Prudential Regulation Authority. Project BARAC, stewarded by University College London, is a project examining the impact Automatic Regulation as administered by Blockchain can have on the Federal Government. Most notably, the FCA and R3, the developers of Corda, are involved here. Gilbert’s recent engagements with the Federal Reserve Bank of Boston also seem to revolve around this very topic, with the Boston Fed pilot-testing a Supervisor Node for automatic regulatory compliance. While at P2PFISY 2019, it was noted by Gilbert that Raphael Auer’s “Regulation Automata” aligns very well with the vision of Overledger, with Paolo Tasca, former CSO of Quant, more recently co-hosting a recent blockchain panel with him. Raphael’s ideas will most likely be taken into consideration by the BIS, as they recently announced a trial of a 6 central banks collaboration centered around exploring CBDC, and are in the early stages of installing Innovation Hubs in Hong Kong, Switzerland, and Singapore.
Gilbert Verdian with Guy Dietrich (Managing Director at Rockefeller Capital who is also on the Board at Quant) attending a meeting with the Financial Conduct Authority

Overledger Network

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The Overledger Network is a network of networks, which allows enterprise and communities stakeholders to access and participate in a growing hyper-connected decentralised ecosystem. Enterprises, banks, central banks, trading venues, etc will be able to host their own secure dedicated gateways, enabling secure connectivity to permissioned networks, permissionless networks, ecosystems, consortia and other distributed technologies. Community members will also be able to run an Overledger gateway to further enhance the scalability, decentralisation and optimise network latency, providing enterprises, developers and users choice to use the closest gateway when accessing permissionless blockchains. The Overledger gateways will create a scalable p2p network that shares the transaction and volume between participants and chooses the closest or largest node to transact with.
As per the example use case in the recent update a Bank can run an Overledger Gateway to provide access to the various consortiums hosted on a variety of blockchains including Corda, Hyperledger Fabric and JP Morgan’s Quorum as well as access to the legacy / non-DLT platforms. Should they want to utilise a public blockchain as well in a hybrid scenario then they also have the option of using a Overledger Gateway hosted by a community member.
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The Overledger Gateways contain several layers which we will explore some of their features below:

Overledger Operating System

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Overledger allows connection to any blockchain / DAG as well as easily integrating with existing non-DLT environments. It does this without adding the overhead of yet another blockchain / consensus in the middle, ensuring that it’s scalable and doesn’t contain a single point of failure. Nor does it require the connected blockchains to fork their code to integrate and place restrictions on what can be implemented going forward. All of this is done in a secure, trustless manner where transactions are signed and encrypted client side so the contents can’t be viewed / modified as they pass through Overledger. It currently connects all of the leading permissioned and permissionless blockchains used by enterprises today. This article explains the differences between other interoperability solutions and the benefits of Quant’s approach

The Five Ingredients of Interoperability:

Recently there was an interoperability webinar with Fintech connect with speakers such as R3’s CTO Richard Gendal Brown, along with representatives from the Bank of England, Deutsche Boerse, Nasdaq, ArchaxEx and SwissRe. Richard Gendal Brown from R3 wrote about the Five key Ingredients of Interoperability:
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  1. INTEGRATE with existing business systems — Businesses aren’t going to replace their existing applications for new blockchain ones, they need to integrate with their existing systems.
  2. INITIATE Payments on existing rails or blockchain rails — Needs to be able to make a payment / settlement using a wide variety of existing payment rails (off chain) as well as blockchain rails, ensuring delivery vs payment can be achieved with certainty that they have happened.
  3. INTERCHAIN applications and smart contracts that can be deployed / executed across protocols — Enabling a solution built on Corda such as Marco Polo to easily connect to a solution on another platform such as Vakt on Ethereum or CargoSmart on Hyperledger Fabric etc
  4. INTRACHAIN applications that benefit from value add of same underlying protocol — What happens when networks such as Marco Polo and Contour both running on Corda want to interoperate and the additional value and benefit that can be achieved.
  5. INTERCHANGE applications to switch platforms — What happens if you want to interchange one platform for another. Can you achieve that holy grail of interoperability by being able to be completely agnostic to the underlying platform?
Overledger meets all of these key ingredients in performing interoperability. Overledger enables existing business systems to benefit from blockchain connectivity by adding as little as 3 lines of code to their existing applications. No need to completely rewrite / replace their existing systems and all done in the most common programming languages such as Java and JavaScript.
https://preview.redd.it/9whqtamdxoi41.png?width=1127&format=png&auto=webp&s=1bdf408f7fe76a9fdd313ef2bc3032982d42c371
At QuantX in December they announced Overledger Interchange which enables settlement on a variety of existing non-dlt payment rails such as Faster Payments, BACS, CHAPS, SEPA, SWIFT as well as on DLT payment rails such as with Central Bank Digital Currencies, Stablecoins and XRP. It also facilitates Cross Chain Atomic Swaps using Hash Time Locked Contracts ensuring Delivery vs Payment is achieved. Interchange is at the centre of the discussions Quant has had with traditional exchanges in capital markets and central banks and is a technology financial services have been missing and was built it address client needs.
Overledger enables interoperability within the same ecosystem such as Corda DAPP to another Corda DAPP etc as well as interoperability between any of the connected permissionless and permissioned blockchains.
Quants blockchain agnostic Operating System enables users to benefit from using the best features from different chains in combination and migrate between them, preventing Vendor or Tech Lock in without having to completely rewrite existing applications, achieving the holy grail of interoperability. It enables developers to quickly test a variety of connected blockchains in a sandbox environment to see which is best suited for their requirements, starting with just 3 lines of code.

Transactions Services Layer

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The Transaction Services layer handles more complex features of Overledger. Allowing for applications to request services such as cross-chain atomic swaps, treaty contracts (Multi Chain Smart Contracts as well as enabling smart contract functionality even on blockchains that don’t support smart contracts natively such as Bitcoin) and transaction brokering (using heuristic analysis to determine which method is the fastest / cheapest out of the various payment rails)

Financial Services Layer

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Financial services features can be called upon by participants and applications to use crosschain and cross-platform. Financial Services specific use cases can use the features in Overledger to operate across networks. This layer provides enhanced privacy and security to regulated entities and institutions who require additional controls to maintain compliance to regulation and security policy. The features of Zero-knowledge Proof and privacy can be mandated for all transactions.

Channels Layer

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Channels provide interoperability of services related to digital assets, payments and tokenisation. The Overledger Network allows for participants to transfer interoperate enterprise and institutional issued tokens and assets. Connect to many existing payment rails such as SWIFT, SEPA, Faster Payments etc.
Overledger Network — Network of Networks

Connecting Blockchain and Non-DLT Applications / Networks to Overledger

The connectors to Overledger which grant access to Overledger Network will be open source and soon be made available, allowing for anyone to create a connector and benefit from being part of the ecosystem. Currently the permissionless blockchain space is mostly speculation with little adoption, mainly due to issues that need to be resolved such as scalability, privacy and regulation with permissionless blockchains, however there are some extremely large Enterprises, Banks, Governments, even Central Banks getting heavily involved and going into production albeit mostly in the permissioned blockchain space where such issues are not a problem. Just as each Blockchain has its advantages and disadvantages, parts of Enterprise applications are better suited to Permissioned blockchains (such as more sensitive parts) and permissionless blockchains suited for a higher degree of immutability, thus a Hybrid model requiring interoperability between permissioned, permissionless as well as existing non-DLT applications is required arguably for many years ahead. Just as with cloud computing where everything didn’t suddenly just move up into the cloud, well over a decade later since the birth of the likes of Amazon AWS, hybrid is still very prevalent today with only recently the likes of central banks, banks, governments discussing moving more sensitive workloads to public clouds such as Amazon AWS, Microsoft Azure, Oracle Cloud etc.

SIA, Central Banks, Banks, Trading Venues

Quant Network partnered with SIA, a game changer for mass blockchain adoption by Financial Institutions. SIA is the leading financial network provider in Europe that connects over 570 Banks, Central Banks, Trading Venues (stock exchanges etc) to their infrastructure. They provide a dedicated private network / infrastructure for financial institutions. Every European financial institution will either connect via SIA, in partnership with Colt or via SWIFT (and in many cases they will have connectivity with both) in order to access the Eurosystem Single Market Infrastructure Gateway, granting access to all RTGS, Securities and Instant Payment transactions for Europe.
SIA have integrated Overledger into their private infrastructure covering Europe consisting of 570 supernodes called SIAChain which enables each bank, central Bank, trading venue etc to utilise Overledger for interoperability. Some of the largest deployments of blockchain are happening on SIAChain such as the Spunta project where the entire Italian Banking Sector will be using blockchain and due to go live next month. As well as the “Fideiussioni Digitali” initiative (Digital Sureties) to digitize the management of sureties using blockchain technology with the Central Bank of Italy involved.
Central Bank Digital Currencies are going to play a hugely significant role in the future and there is one central Bank currently testing Overledger and Quant are in discussions with 4 others.
Connecting your blockchain / legacy network to Overledger enables the possibility that it could be used by any of these connected Banks, Central Banks, Trading venues etc in their private network (obviously due to the amount of regulation and critical financial infrastructure the options are going to be limited on what they want to connect).
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Oracle

Quant are a Fintech Partner with Oracle, the 2nd largest software company in the world and Oracle are taking Quant’s tech to their clients directly. They have 480,000 clients globally and towards the end of last year Oracle invited Quant to attend Sibos (SWIFT) where they met existing financial services and banking clients and introduced to new ones. By connecting to Overledger this also enables your solution to potentially be used by those 480,000 of Oracle’s global clients.

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SIMBA Chain

SIMBA Chain is a cloud-based, smart-contract-as-a-service (SCaaS) platform, enabling users across a variety of skill sets to implement dapps (decentralized applications). The easy-to-use platform is tailored for users, developers, government, and enterprises to quickly deploy blockchain dapps for their enterprise. SIMBA Chain are developing on Quant’s Overledger Blockchain OS to allow them to deploy DAPPs across multiple connected blockchains.
SIMBA Chain have recently been awared a $9.5 million contract with the US Navy, they are also working with the US Air Force. They have a thriving ecosystem with over 1100 Organizations and 650+ Applications developed. Partners include Microsoft, Government Blockchain Association, Air Force Research Laboratory, Caterpillar, SAP and EY. Recently they also integrated Unity 3D plugin for Gaming to enable owning, storing, and managing all personal gaming assets across a variety of blockchains.
These are just a few of the companies that Quant have partnered with directly, but the ecosystem for Overledger Network is the Network of Networks. Every connected blockchain (Bitcoin, Ethereum, Ripple (XRPL), EOS, Stellar, IOTA, DAG, R3’s Corda, Hyperledger Fabric, JP Morgan’s Quorum and other Permissioned Variants of Ethereum) and their associated partners / applications built on them have the ability to connect and interoperate with the other blockchains connected as well as non-DLT networks such as existing payment rails like SWIFT, Faster Payments, SEPA etc. This Network of Network’s effects will grow exponentially as more and more join the ecosystem.

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Connecting the Internet directly to blockchain

Quant Network are also developing the ability to allow developers to build MAPPs that integrate directly with the internet as well as blockchain data. They will enable this via creating a new IP address for blockchains which they are calling Quant IP which will enable traffic to be routed from an IP connection from the Internet through Overledger to the connected blockchains.
Another Quant product called Seeq is a distributed search engine that is able to search and retrieve data from multiple blockchains and display them via html directly from the blockchain. More details will be released about Seeq later this year.
Connecting the Internet directly to blockchain will allow websites to be natively created and served directly from blockchains, without the need to have, run and maintain web servers, web services, SSL certificates etc and all running in a completely trusted, extremely resilient / tamperproof environment. The implications of this are enormous and more details will be released by the team later on this exciting prospect. By connecting your blockchain to Overledger you will also be able to benefit from this.

Join your favourite Blockchain project to the Overledger Network Ecosystem

Instead of the current mentality of having the main focus for many projects of listing on exchanges for vast sums of money, why not spend a little time (connectors can be created in as little as a week of development and don’t necessarily even need to be created by the team themselves) and make your blockchain / non-DLT application available to be used by all existing enterprises / members. Not only that but if you also run an Overledger Gateway connecting your blockchain node you also benefit from the transaction fees of the traffic going to it. The connectors are open source and completely free to connect and now with the standardisation of Objects in the recent SDK update the foundations are in place for the launch of Overledger Network with an ETA of Q2 2020. If you would like your favourite blockchain project to interoperate and be part of the ecosystem to further adoption then make the relevant people aware and keep an eye out for further details released in the future.

https://medium.com/@CryptoSeq/the-network-of-networks-scalable-interoperability-to-unleash-the-true-potential-of-blockchain-c54e7d373d2d

Thanks to community member Ghost of St. Miklos for contributing the section about regulation as well as Sonic for proofreading.
You can find more about Overledger Network as well as the token utility — here and community member David W. wrote an excellent article “A deeper look into the Quant Network Utility Token (QNT) valuation dynamics and fundamentals”
What is a blockchain operating system and what are the benefits? Introducing Overledger from Quant Network.
Wall Street 2.0: How Blockchain will revolutionise Wall Street and a closer look at Quant Network’s Partnership with AX Trading
Large Enterprise Adoption of Blockchain is happening, enabled by Quant Network’s Overledger
As well as an 8 Part Series taking an indepth look at Overledger starting with Part 1
submitted by xSeq22x to CryptoCurrency [link] [comments]

Quant Network Partner with the largest Financial Network Provider in Europe, SIA, bringing Overledger to SIA's 570 Banks and Trading venues as clients. Quant Network are also working with the Central Bank of Italy for settlements

Quant Network recently attended Money 20/20 in Europe where they announced a partnership with SIA.
https://www.sia.eu/en/media-events/news-press-releases/sia-partners-with-quant-network-to-explore-innovative-solutions-in-blockchain-interoperability-for-banks-and-financial

So what we’ve done is instead of just announcing one client and one thing, we’re announcing that we’re working with SIA. So, SIA is leading European payment infrastructure. And what we’re doing with SIA is interconnecting blockchain networks with SIA, and doing settlements, which are central bank settlements, with the central bank in Italy. So what Overledger is doing is we’re actually bringing blockchain and interoperability to all of SIA’s clients, which are 580 banks. So, Overledger could be rolled out to all these institutions, financial services, banks, at scale, and have interoperability to get the benefits of this.

https://www.youtube.com/watch?v=0cNmGrLPoTo&t=7s

Just to make it clear this isn't SIACoin, this is SIA, the largest financial Network provider in Europe. some more info about SIA below:
The Eurosystem (compromises of the European Central Bank (ECB) and 19 National Central banks that are using the Euro such as the central banks of Italy, Germany, France, Spain, Netherlands, Belgium, Ireland etc.) operates the financial market infrastructure for the settlement of payments (TARGET2), TARGET Instant Payment Settlement (TIPS) and securities (TARGET2-Securities, or T2S). These platforms form the backbone of the European financial market.
All of these platforms will be reachable via the Eurosystem Single Market Infrastructure Gateway (ESMIG). The single connectivity gateway to all Target services would provide a simpler and more efficient means to access the key market infrastructures and up to 3 Network Service Providers will be able chosen. The two companies currently going through the approval process are SIA (who were the first to be gain Eurosystem certification for TIPS) and SWIFT.

Other Partners and Announcements:


"Although Crowdz uses the Ethereum blockchain as the foundation for our Invoice Auction Exchange, we have needed a solution that allows for invoices and other documents to be transferred from one blockchain to another — for example, among Hyperledger, Corda, and EOS. With the Overledger solution from Quant Network, it is now possible to pass data among different blockchains. Crowdz looks forward to working with Quant Network to enable the true multi-blockchain environment that our customers demand.” - Payson Johnston, President and CEO of Crowdz

Team:

Incredible team with loads of experience - Gilbert CEO was the Chief Information Security Officer at Vocalink (Mastercard) Gilbert was in charge of Security for the Faster Payments service in the UK which deals with £6 Trillion every year. Previous roles at HSBC, PWC, HSBC, EY, UK Government, HM Treasury and Bank of England.
The most recent addition is the new COO, Cecilia Harvey, who joined from her previous role as Director at HSBC Global Banking and Markets. Cecilia is a Tech Women 100 Winner and also worked at Vocalink, Citi, Barclays, Accenture, IBM and Morgan Stanley
Lots of other experience in the team working for companies such as BT, Nationwide, NHS, Deutsche Bank, KPMG, HMRC, National Crime Agency and Europol
https://www.linkedin.com/search/results/people/?facetCurrentCompany=%5B%2211169903%22%5D

Token Utility

From our original thinking in the whitepaper and business paper, the purpose of QNT has always been multi-purpose. The 1st phase of QNT was to help create an ecosystem of developers and enterprise. The 2nd phase, QNT has been used to verify and the option to sign and encrypt every single transaction that flows through Overledger for security purposes. The 3rd phase of QNT is something we've been working on. It's to be used for the movement of Digital Assets across chains. QNT is a Universal Utility Token, providing access to the Overledger ecosystem and also to be used to pay for transactions and usage across chains. We're also going to enforce mimimum wallet holdings for all participants.This is a market need we're seeing with clients and a tokenised ecosystem is the future we're all working towards. This is something we can do now, where others have been trying to achieve for the last couple of years.We have clients we're working with in financial services that are moving digital assets internally within a permissioned network and want to be able to interoperate with other parties to recognise their digital asset on different internal permissioned chains. Plus they also want to be able to move and settle on public permissionless blockchains safely and securely - Overledger is the only technology that can do this today.
This is a game changer we've been working on. We're bringing blockchain interoperability to the 570 banks that SIA work with.We want users with volume - if we're powering the digital asset economy with QNT this is a game changer in this space. This is what Ripple with XRP, Stellar with XLM and partnering with IBM have been trying to do - Gilbert from Telegram
https://www.quant.network/QUANT_Token_Utility_V0.2.pdf
Quant have released the Quant Enterprise Treasury which allows Enterprises to pay for license fees in FIAT and the treasury automatically converts them into QNT. The treasury gets the tokens from Exchanges / OTC.
QNT has a total supply which is 1/3 less than Bitcoin's total supply at only 14.6 million QNT. Unlike Bitcoin currently you don't have to wait till 2140 for all of the tokens to be in circulation. All QNT is in circulation, there is no inflation and no new tokens will be minted.
Unlike with Ripple where the majority of partnered banks don't actually use XRP, all banks that use Overledger will use QNT. Ripple is valued at $17.7 Billion and 42 Billion XRP are in circulation. There is another 58 Billion XRP which is due to come into circulation via inflation. (If you take that into account at todays prices that's a total market cap of $42 Billion
The other thing to consider is that whilst they may not be popular on here, permissioned blockchains are going to far more widely used over the next couple of years than public blockchains for Enterprises. This is because public blockchains currently lack many features - speed, privacy, as well as regulation involved with being decentralised etc. Thats not to say it won't shift towards public blockchains in the future but not in the next couple of years. (Just have to look at the number of permissioned blockchains being used in Forbes recent blockchain 50 list to see this. Whilst permissioned blockchains don't need Gas and so don't have their own token. Even if enterprises are only using permissioned blockchains to interoperabte between them, they will need QNT.
QNT with all of its token in circulation, no inflation, better tokenomics than many, wide usage in short and long term connecting to permissioned and public blockchains as well as sitll on the 2nd page on Coinmarket cap and hasn't listed on a "Tier 1" exchange yet.

Other:


Would you like to connect your favourite blockchain to Overledger so that you have access to all of these enterprises / developers / clients to use? Well you can and unlike with exchange listings its completely free and open source. Once you have created the connector send it in for approval to connect to Overledger. Join the Quant Network Developer portal to find out more

for a more in depth look at Quant Network please see the following articles:
Part One — Blockchain Fundamentals
Part Two — The Layers Of Overledger
Part Three — TrustTag and the Tokenisation of data
Part Four — Features Overledger provides to MAPPs
Part Five — Creating the Standards for Interoperability
Part Six — The Team behind Overledger and Partners
Part Seven — The QNT Token
Part Eight — Enabling Enterprise Mass Adoption
Quant Network enabling mass adoption of blockchain at a rapid pace
submitted by xSeq22x to CryptoCurrency [link] [comments]

DIFFERENCE BETWEEN FIAT AND CRYPTO

• Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.
• Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.
• What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.
• There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.
• A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.
• It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.
• In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.
KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.
An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.
Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.
SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC: Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.
In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.
Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.
• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.
• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.
• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.
• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety. SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS: • Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.
• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.
• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.
• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?
• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.
• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.
• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.
• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works. TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS: • Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.
• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.
• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies. PRIVACY & ANONIMITY: • Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.
• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.
• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act. SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES): • No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.
• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.
• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat. KRATSCOIN SUMMARY: • Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.
• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.
• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?
• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.
"Quoted by" https://lintangnews.com/ada-kratscoin-ini-bedanya-dengan-bitcoin/ https://0xzx.com/201910111244312902.html https://news.tokocrypto.com/tag/kratscoin-ktc/ http://bbs.tianya.cn/post-lookout-836105-1.shtml https://zhuanlan.zhihu.com/p/84844615
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Setting up a Government Gateway ID - YouTube Bitcoin Basics (Part 1) - How to Register for the Government Gateway and log into ... How to Register with Government Gateway in the UK? (2018 ... GOV.UK Gateway [Demo 1] - YouTube

Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin ... With the publication of the Distributed ledger technology: beyond block chain report last year, the UK government has stated its aim of developing and promoting the use of blockchain technology, as… In a recent announcement, the UK government has expressed its keenness in taking strong steps to cushion investors from market predators. The HM Treasury is mulling over a plan to regulate crypto promotions. “Regulatory Gateway” The plan was fronted by the City Minister, John Glen. John is the head of the financial services sector in the UK ... The UK government announced this week that it was intensifying its oversight on cryptocurrency adverts. According to the announcement, many online crypto ads are misleading and that potentially puts investors at risk of losing money. The proposals request that all cryptocurrency companies undergo a regulatory gateway before they are approved to promote their products. Should the new proposal ... UK Government Moving to Restrict Cryptocurrency Promotions The U.K. government is looking to increase oversight into cryptocurrency promotions in order to protect investors.

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Setting up a Government Gateway ID - YouTube

A step by step guide explaining how to set up a Government Gateway account in order to claim under the Self Employed Income Support Scheme. How hacker's will trick you to obtain your Government Gateway Credentials, Stay Safe. Please Note: All videos on this channel are for educational purposes. Short video showing how to register for the Government Gateway and log into SPS Online. Try watching this video on www.youtube.com, or enable JavaScript if it is disabled in your browser. To be able to access the new HMRC portal for claiming wages under the Job Retentions Scheme, you need to have A Government Gateway Account. This video blog s...

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