Category Archives: blockchain

Civil rights to autonomous artificial systems

In an open letter to the European Commission a group of ‘Political Leaders, AI/robotics researchers and industry leaders, Physical and Mental Health specialists, Law and Ethics experts gathered to’ voice their concern about negative consequences of legal status to robots.

This echoes the concept that granted corporations personhood legal status, and the long debate over its convenience, how this notion spread and became usual in modern law.

The paragraph 59 f  from report cited in the letter is by its turn based on the recommendations to the Commission on Civil Law Rules on Robotics that can give a thorough view on the grounds of what moved the Committee on Legal Affairs to propose it.

Pier – Brazilian Central Bank data platform on blockchain

Brazilian Central Bank new ‘PIER platform works as a distributed ledger connecting monetary, securities and pension regulation authorities.  To be specific, BCB, Susep, CVM, and Previc.

Unsurprisingly features such as data integrity, immutability and the core reliability and security of blockchain networks support this development.  Eliminating duplicated data handling work is also good.

Interesting topic is that one driver was the decentralization aspect.  Limited, of course, since platform is not open.  Centralized system introduces a hierarchy not backed by the law.  Among those regulators bodies, they are equals.

Seeking a reliable, secure, efficient peer-to-peer information exchange system they ended up in… blockchain.

(Central Bank take-one does not look like they are all equals, tho)

Chile to post Energy Data on Blockchain

Chilean Energy commission (CNE) announced plans to publish energy generation, distribution and demand on an Ethereum based blockchain.

At first data of output capacity, average and marginal prices, fossil fuel costs, and registered residential generation, among others.

This is part of the ‘Energia Aberta’ (Open Energy) platform.  Chilean energy authorities states that information is important for investment decision making, public policy and service to society.  Such pioneer use of blockchain systems intends to keep information integrity.

Though not mentioned by chilean authorities, having residential energy output available in blockchain could spark the application of distributed energy, peer-to-peer energy market and smart contract.  For instance, residents could help finance solar powered energy generation if they were able to sell excess generation to the grid.  One of many proponents of such a system is SolarCity.

Golem (GNT) – sharing excess CPU

Golem is a decentralized global supercomputer.  Processing power is shared by users (providers) to applications (requestors).  Ethereum based smart contract handles transaction of remuneration.

Network nodes create sandboxes isolated in providers’ machines.  Golem technology then combine computations back to requestor application.

After a hyped launch in 2016 when it raised 820k ETH, software development delayed until they had its Brass Golem mainnet ready for their first use case: CGI rendering.  Next in line could be machine learning.

According to the whitepaper, GNT is the utility token that is used to remunerate providers from requestors to providers and other interactions with the network according to the transaction framework.

Blackmoon Token Platform

“The Blackmoon platform facilitates the asset token creation process. The token issuer creates and distributes the asset tokens in exchange for contributions in crypto-currencies. The contributions are accumulated by the Token Issuer. Once the creation book is closed the Token Issuer converts contributions to the Fund’s base currency through an Exchange”

“Blackmoon’s vision is to create a new standard for tokenized investment vehicles that will bridge the gap between the fiat* and crypto universes”

Token issuers will act on the primary market involved directly in creation and redemption of tokens.  KYC, AML, and other regulatory provision should apply according to each fund and distribution.

Funds tokenizers are domiciled in the Cayman Islands.  Each fund may be incorporated as a Limited Partnership if suitable.

Ripio (RCN) – p2p Credit Network

RCN is a peer-to-peer protocol for blockchain and smart contracts.  The network connects lenders, borrowers and other members into a network to facilitate credit.

RCN engines hosts and run the logic and state of smart contracts.  Oracles provide the interface between RCN and other currencies.  Other agents may connect to the network in order to provide credit scores, ID verification, and interact with credit.

Check out their technical guidelines and documentation.

RCN tokens are the network’s utility payment.  RCN are required to access the network and allow interaction among its members.

Coinbase fixes smart contract vulnerability

Coinbase solved a glitch that if exploited could allow undue balance credit of ETH accounts.

Researchers at VI Company found the security flaw and communicated with Coinbase.

As reported, before fixing the problem was that “By using a smart contract to distribute ether over a set of wallets you can manipulate the account balance of your Coinbase account. If 1 of the internal transactions in the smart contract fails all transactions before that will be reversed. But on Coinbase these transactions will not be reversed, meaning someone could add as much ether to their balance as they want. When you look up the Coinbase wallet address after this transaction you will see that it is empty, but checking your Coinbase wallet will show your funds.“

Ley Fintech – Mexico sets legal ground for cryptos

Mexican houses approved the new ‘Ley Fintech’.  Initially proposed to accommodate fintechs, crowdfunding, sandbox regulation, financial data APIs – open banking,  this law sets the grounds for use of crytocurrencies.

Most of the practical effects is still to come, and depends on Central Bank further regulation, and the outcomes from a government body ‘Grupo de Innovación Financiera’ proposals.

Despite the clear reference to Mexican Central Bank authorization, cryptos are defined as ‘virtual assets’, which may be close to securities, but not currencies.