Readings

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.

Reputation Inflation by Filippas, Horton, Golden

Reputation Inflation, by Apostolos Filippas, John J. Horton, and Joseph M. Golden

Great paper showing how perceived relative costs to rating systems can loop into system lower effectiveness.  As raters react to incentives to report public rating, bias is introduced and can lead to a rather boolean outcome: anything different from perfect score is serious statement of reproval.

This at first may be seen as a problem.  However, those proposing rating mechanics may in fact use such bias to get a stronger grip on those being rated.

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.

Data Brokers – A Call for Transparency

Cambridge Analytica’s may deservedly be set apart for its practices and the way it collected data.  And 50 MM user’s data sounds like a lot, right?

Now compare to this 2014 report “… one data broker’s database
has information on 1.4 billion consumer transactions and over 700 billion aggregated data elements; another data broker’s database covers one trillion dollars in consumer transactions;
and yet another data broker adds three billion new records each month to its databases. Most importantly, data brokers hold a vast array of information on individual consumers. For example, one of the nine data brokers has 3000 data segments for nearly every U.S. consumer…”

And this was what U.S. Federal Trade Commission found from nine data brokers.  In 2014.  And by the fact that “Seven of the nine data brokers in the Commission’s study provide data to each other. Accordingly, it would be virtually impossible for a consumer to determine how a data broker obtained his or her data…” this is now far out of reach of any action by Facebook or CA themselves.

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.“