/biz/ - Business & Finance

>>8223659
>Cryptocommodities are analogous to physical commodities (e.g., food, grain, lumber, metal) that are traded in traditional financial markets.
>Like these conventional commodities, blockchain commodities are critically important to blockchain-based industries, and fluctuations in their prices pose a business risk.
>A critical property of physical commodities is that they can be stored and delivered under contract. The resulting derivatives market (financial instruments based on commodity prices) is instrumental for managing and alleviating the business risks associated with surpluses and shortages of the commodities they rely upon. In contrast, cryptocommodities cannot be directly stocked or traded. So how could a cryptocommodities market work?
>Project Chicago aims to understand the new generation of financial instruments that can be created
>This includes the study of oracle-based and in-protocol futures for Bitcoin block and UTXO space, and for Ethereum state and block space

So they want to bring derivatives to cryptocurrecy. We all thought that LINK would capture a share of the derivatives market in traditional financial markets. But what they're proposing here in this project Sergey tweeted about is bringing derivatives to crypto through cryptocommodities.

This is why holding smart contract related tokens is way smarter than "muh crypto as a currency" like Nano. All that currency cryptos can do is move around fast and maybe cheaper than traditional transfers. Smart contracts (using oracles) are able to CREATE new opportunities for money TO BE MADE. It's not about saving money but creating money.

Bullish AF

From the project Chicago and gastoken websites: “Cryptocommodities are analogous to physical commodities (e.g., food, grain, lumber, metal) that are traded in traditional financial markets. Like these conventional commodities, blockchain commodities are critically important to blockchain-based industries, and fluctuations in their prices pose a business risk. A critical property of physical commodities is that they can be stored and delivered under contract. The resulting derivatives market (financial instruments based on commodity prices) is instrumental for managing and alleviating the business risks associated with surpluses and shortages of the commodities they rely upon. In contrast, cryptocommodities cannot be directly stocked or traded. So how could a cryptocommodities market work? Project Chicago aims to understand these new generation of financial instruments that can be created. This includes the study of oracle-based and in-protocol futures for Bitcoin block and UTXO space, and for Ethereum state and block space”

So they want to bring derivatives to cryptocurrecy. LINK holders have speculated that LINK would capture a share of the $1.2 quadrillion derivatives market in traditional financial markets. But what they're proposing here in this project Sergey tweeted about is bringing derivatives to crypto through crypto-commodities (and specifically oracle based ways to do this, obviously chainlink). Correct me if I’ve understood this wrong.

This is why investing in smart contract related tokens is way smarter than "muh crypto as a currency" like Nano or Ripple. All that currency cryptos can do is move money around fast and maybe cheaper than traditional bank transfers etc.

In contrast, smart contracts (using oracles) are able to CREATE new opportunities for money TO BE MADE. It's not about saving money but creating value.

interesting that no one has mentioned that ari juels is part of project chicago. too obvious?

>>8232434
Yeah it just double confirms that project Chicago and LINK will be intimately connected. It’s not too obvious - most link holders are now retards who only hold for the memes.

>>8232468
He’s dead. RIP

>>8232500
Yes.

Just to repeat: project Chicago wants to bring derivatives to crypto. Not using smart contracts in traditional derivative markets, but creating a new derogate market based on crypto commodities - these are forms of computation or block space, rather than traditional commodities like oranges or rice.

>>8232556
One thing I’m not sure about. Would cryptocommodities include stable coins, say, pegged to the price of gold or oil or other IRL commodities? They don’t talk about that on project Chicago site so maybe I’m not thinking about it correctly.

>>8233150
Even if traditional derivative markets are never even touched by LINK, if project Chicago creates cryptocommodities with LINK that alone should be a big deal.

>>8233397
The speculative shitcoin market where you trade tokens on binance has little to do with the adoption of smart contract technology. They will use the tech and price will reflect that eventually. They don’t care about whether bitcoin is up or down, they will use the tech.

>>8232572
>>8232556
>>8232511
>>8232500
project Chicago has under 100 followers does this mean normies don't know about this yet? Are they super under the radar?

>>8239770
>This is basically Wall Street sniffing around the money being made by places like Bitmex.
That’s not true at all. Project Chicago is run by academics, not Wall Street! They probably only want to invent cryptocommodities and derivatives as an exercise in autism or because they like coding.

>>8229318
Oh, christ, i should have known. This "Project Chicago" is a university teacher who's grouped with 3 other Ph.D candidates who are studying crypto. This isn't a sign of anything other than these guys are interested in researching the topic, not that "crypto derivatives" are coming to Wall Street any time soon. Nothing "confirmed" at all, it's a huge nothingburger by a Link spammer.

LOL.

Fucking 4chan. This is all just more Link pump.

>>8239935
FWIW Ari Juels is a co-author of the ChainLink whitepaper and he's also a team member of Project Chicago.

>>8240006
This is another reason crypto is so different than previous business ventures. Previous ventures like IBM or Apple or google start with the academics but then it moves to the venture capitalists and entrepreneurs to get the stuff off the ground. That takes time and money.

It’s a little different with crypto because the academic research is the product itself, I.e. the coding, developing, and programming that someone like project Chicago is working on.

That’s why the crypto space moves much faster than traditional finance or business industries. The people doing the academics (like ari Juels), just deploy the coding to the internet and the ideas can move forward because communication allows horizontal cooperation. Traditional ventures required more vertical research to launch processes, plus the fact that crypto has made all these academics rich, they can do the work AND finance it being launched.

Rise of the nerds faggots.

>>8254095
CRYPTO-DERIVATIVES

Cryptocommodities, very simply, are raw resources used for blockchain transactions. The main examples are various forms of blockchain memory (e.g., block space or space in a UTXO set) or computation (e.g., gas in Ethereum). Cryptocommodities are analogous to physical commodities (e.g., food, grain, lumber, metal) that are traded in traditional financial markets.

* They're called derivatives cause they DERIVE their price from the price of the underlying asset.

Project Chicago wants to bring derivatives to crypto. Not using smart contracts in traditional derivative markets, but creating a new derogate market based on crypto commodities - these are forms of computation or block space, rather than traditional commodities like oranges or rice.

https://projectchicago.io

>>8448699
>putting LINK and shit like COSS and ODN into the same bucket

nigger are you fucking serious
last time I checked Sergey was at Sibos (SWIFT's premiere annual financial event) TWICE, and LINK has a whitepaper co-authored by Ari Juels who is a professor at MIT. Look into Project Chicago as well as intel SGX.

This is a freebie for newfags, do your own research, never listen to LINK fudders

Again. 30k Link stack. Smart contract are the future and so are crypto-derivatives.

CRYPTO-DERIVATIVES

Cryptocommodities, very simply, are raw resources used for blockchain transactions. The main examples are various forms of blockchain memory (e.g., block space or space in a UTXO set) or computation (e.g., gas in Ethereum). Cryptocommodities are analogous to physical commodities (e.g., food, grain, lumber, metal) that are traded in traditional financial markets.

* They're called derivatives cause they DERIVE their price from the price of the underlying asset.

Project Chicago wants to bring derivatives to crypto. Not using smart contracts in traditional derivative markets, but creating a new derogate market based on crypto commodities - these are forms of computation or block space, rather than traditional commodities like oranges or rice.

https://projectchicago.io

>>8522216
>>8522183
>>8522143
>>8522105
>>8522065
>>8522045
>>8522018
>>8521990
Crypto-derivatives and crypto-commodities, very simply, are raw resources used for blockchain transactions. The main examples are various forms of blockchain memory (e.g., block space or space in a UTXO set) or computation (e.g., gas in Ethereum). Crypto commodities are analogous to physical commodities (e.g., food, grain, lumber, metal) that are traded in traditional financial markets. They're called derivatives because they DERIVE their price from the price of the underlying asset.
Project Chicago wants to bring derivatives to crypto. Not using smart contracts in traditional derivative markets but creating a new derogate market based on crypto commodities - these are forms of computation or block space, rather than traditional commodities like oranges or rice. See (2).

>>9129078

ok nvm i dmor

https://www.reddit.com/r/LINKTrader/comments/83hru1/project_chicago_partnership_speculation/?st=jgio0usv&sh=c3e88563

>Project Chicago is a project of IC3, which is a confirmed working partner of Smartcontract.com, which means this isn't speculation, and Project Chicago-Chainlink is therefore confirmed.

https://twitter.com/SergeyNazarov/status/972000465905901570

https://twitter.com/ChainLINKfan/status/972123399190384647

>>9176922

Project Chicago is trying to create a derivatives market for crypto-commodities. Ari Juels, who co-wrote the Chainlink white paper, is a founder of Project Chicago and the whole thing is an IC3 project.

So basically another Chainlink partnership is confirmed.

>Cryptocommodities, very simply, are raw resources used for blockchain transactions. The main examples are various forms of blockchain memory (e.g., block space or space in a UTXO set) or computation (e.g., gas in Ethereum). Cryptocommodities are analogous to physical commodities (e.g., food, grain, lumber, metal) that are traded in traditional financial markets.

https://projectchicago.io/

>price of ETH in USD
Could be nothing but could be project chicago testing

>>10033321
What think yee aboot Project Chicago?

>>10406214
https://twitter.com/SergeyNazarov/status/972000465905901570?s=20

Anons, start digging on project chicago

>>10406254
it's called project chicago because that's where commodities are traded

Is ari actually involved?

Wp says he's actually invested in it, not just reviewing the paper in a professoral capacity. The video today made me wonder why would Sergey attend a vitalik conference just to ask a question when he could just have a direct private line through ari,even if there's an awkward rivalry going on.

Ari seems to be involved in a shitload of different projects, like project Chicago or the other project with that chink lady.

Sergey still regularly attends ic3 events and cl is still considered a partner. We assumed he was a strong asset, especially for networking, but should we be worried he's not really as involved as he could be. Look at Levi in this picture, hyperledger manager, or the jp morgan chink. We assume they could be using chain link simply because ari is the middle link. But is he really doing what we're hoping he's doing? A lot of mystery and ambiguity around his activity.

The Market Protocol partnership could help make a derivative based off the link token that is tied down to a stable coin. Also, we know Ari Juels is working on Project Chicago, which if I remember correctly was trying to build a derivative for eth, so gas prices could be more easily calculated and costs for companies could then be budgeted more accurately.

https://projectchicago.io/

What you guys think?