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| 10 m | Introduction & Anti-trust & Code of conduct | ||
| 30 m | eThaler | Slides | |
| 15 m | Projects | CMSIG-Projects | |
Recordings
Audio
Video
Minutes
Anti-trust policy
Capital Markets - first every ever use case is payments. Part It is part of the capital markets umbrella.
We formed this group 6+ months ago. The rationale is to discuss different aspects of capital markets and see where blockchain - Hyperledger technologies- apply.
Started with a taxonomy - structure of instruments of capital markets. Published on the projects page. Second, different projects people are interested in, some current, some not, some active. Examples, regulations, standards, (see projects page).
eThaler token formula - how it becomes important to think about a token as a composable set of behaviors and, subsequently, what those behaviors turn out to be in terms of implementation. Meaning, to have behavior such as transferrabletransferable, you have to finally implement with an interface that has a certain signature. Have to be met - interfaces
Interfaces are contracts (basically) between the implementation and outside world.
Contract says this particular behavior, to be implemented, must have these functions and the function signature has to be 'x'. Freezes the contract with the outside world. Addresses interoperability.
Why is eThaler important today? If read House Bill created a couple of days ago (1,400 page document!). Significant QE for the people. And, why is a central bank - digital currency important? Talk about giving a check to Americans, the way to distribute it is with a digital wallet, and blockchain. This first distribution is QE to the people. The concept of CDBC seems to be in view of House Finance Committee. Significant step. Crises product new ideas and acceptance of new ideas that will live on long after Covid 19.
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All deposits are digital, credit card transactions are digital. But, it always comes with an intermediary. That's where the risk is tremendous. Digital cash in your account is protected by FDIC only up to a certain amount. What is standing in the back of all of this, (and it's tied to a bank, if the bank goes bankrupt, currency moves to another bank, etc). FDIC ultimately moves account to other banks, but only to the max amount insured. Difference with CBDC, not any of those things.
Backed by the central bank. Backing doesn't change, mechanics do. If you're holding in your wallet, nothing is standing between you and the central bank guarantee. Of course, the central bank can go under (low risk).
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== Move to eThaler project.
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| Fungible - one physical dollar can be substituted by one digital dollar. Not, for example, not from a bad source with behaviors. Variable supply, not fixed like ICO type supply. Supply can vary according to the Feds control of the monetary policy. Today function is between Feds and US Treasury. The supply is controlled, you can withdraw money from the supply. Physical dollars. Sometimes more are printed to replace, based on physical deterioration. Token can be minted or born. Fractional - can be divided into either decimals, up to 4-points for micro payments. |
 | D - dividable C - compliance T - transferrable Fulfills KYC AMC check - compliance kicks in when transfer amount is greater than 1,000. Starting to model wholesale CDBC. May not require heavy compliance because institutions are regulated. Might require further look into transfer operations amounts. P - Pausable. Tokens received and become tainted? Challenges notion of fungability. Freezing - bugs or upgrade of infrastructure. Pause and resume particular account and set of tokens. SC - supply control mintable and burnable. |
| JSON file Taxonomy services TTF printer. can parse JSON and come out with no errors. |
Interface. Dividable, Transferrable, Pausable, Compliant, etc. need interface. Just starting.
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