FoTWR's Simon Taylor used to have a killer out of office message: "I love all your emails equally, and will respond to them as soon as I can." So with that as inspiration, instead of having to pick, I will love each of the (many) Sibos press releases equally (even our own!) and list them below.
- R3, eight banks successfully test Intel blockchain platform for bond trading
- Symbiont, Credit Suisse and R3 come together for syndicated loans proof of concept
- CGI Launches Blockchain Lab for Trade Finance
- UBS To Build Blockchain-Based Trade Finance System
- Microsoft and Bank of America Merrill Lynch collaborate to transform trade finance transacting with Azure Blockchain as a Service
- CLS Developing Blockchain-Based Payment Netting for FX Market
- Paxos and Euroclear Collaborating on Launch of Blockchain Solution For Gold Settlement in London Bullion Market
- Ripple gatecrashes Sibos party (technically not a press release, but pretty entertaining nonetheless)
Accenture's "editable blockchain" mentioned last week prompted this response by Brian Kelly in CoinDesk:
In my view, for blockchain technology to move beyond "lab experiments", it is critical that we embrace the features of immutability and use the tool for its intended purpose. A blockchain is a great way to keep a record that you don't ever want changed – this is the heart and soul of a trustless system – it is a feature, not a flaw.
Interestingly, Accenture decided to respond in the comments section (!) to set (or edit, haha) the record straight:
So Accenture considers immutability very much an asset, and not a flaw. We simply believe that "absolute immutability" will become a challenge when it meets real-world compliance and risk management requirements. There needs to be a technical solution when things go wrong.
Blockchain Hype (cont.)
Vitalik Buterin gets another Vanity Fair-esque profile in this Fortune piece (which also has a bonus pic of our Mike Hearn rocking a v-neck sweater/jumper), in the wake of the second well attended DevCon in Shanghai. Pair this article with this cautionary posting from Nick Tomaino on Irrational Appcoin Exuberance:
Crypto enthusiasts (myself included) want to see these types of projects come to fruition; the visions are alluring. The projects haven’t delivered anything tangible yet though. These fundraises are getting done based on vision rather than any semblance of execution. This has been a problem on Kickstarter for years and I’m fearful we’re going to see a lot of the same in the ICO world.
IBM released a survey of over 200 global banks entitled Leading the Pack in Blockchain: Banking Trailblazers Set the Pace:
It found 15% of bank respondents intend to have fully implemented, full-scale commercial solutions in 2017. Behind them, another 65% indicated they plan to have blockchain solutions in production over the next three years.
Perhaps the report should be checked for proper usage, according to this handy, short guide by Ryan Shea on Blockchain Terminology:
The term “blockchain” is a noun, but it’s important to note the noun types that it can fit into.
Just like the term “rocket”, the term “blockchain” can be used as a concrete noun, but never as an abstract noun, like “genetic engineering”. One can say “I have a rocket”, “I see the rocket”, “there are rockets” and “we’re using rocket technology” but one cannot say “I am focused on rocket”.
Likewise, one can say “I have a blockchain”, “I see the blockchain”, “there are blockchains”, and “we’re using blockchain technology” but one cannot say “I am focused on blockchain”.
What is this Rocket you speak of? Can I get in on the pre-mine ahead of the ICO?? I want Rocket.