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16213153 No.16213153 [Reply] [Original]

https://www.mas.gov.sg/schemes-and-initiatives/Project-Ubin

We see a lot of news like this and the Santander/ UN bond settlement for ETH. The thing I need help with is understanding how permissioned blockchain uses like Quorom will help the public usage (and price action) of ETH.

Aside from the privacy issues, it's clear that permissioned blockchains will execute faster and with no miners (PoS will affect this). We can argue until the cows come home about whether this is better or not for enterprises.

Fact remains that my ETH is holding the (price) line, and fueling the fluctuating (ETH) bank balances of developers. Then their work is ported over to the permissioned blockchain.

How will the increasing use of permissioned blockchains raise the usage and price of ETH? How do I profit by holding ETH?

>> No.16213159

Decentralization was a mistake. Like communism, looks good on paper, but does not work with the real world adoption.

>> No.16213186

>>16213153

The main reason banks are using permissions versions of ethereum is they don't want all information associated with what should be private accounts visible to everyone on the blockchain. Other than that there is no reason a private bank couldn't use DAI and smart contracts on the public blockchain. I think once we get a wrapped zcash token linked to Ethereum that will allow for more privacy and use of the public chain. There is literally no advantage to a permissioned blockchain they might as well keep shit centralized if they want to base it on trust.

>> No.16213224

>>16213159
Decentralization is not just a scam. DeFi and trustless markets are a thing that captures the crazy market and adds to my pressure cooker expectation price for ETH. I'm only wondering if decentralized or not, the permissioned blockchain adds to that pressure.

>> No.16213320

>>16213186
ok i get it. I typed a long answer about privacy erc-20 protocols like Aztec. Eth-Zcash will provide a global settlement layer, that will also shield parties balances intra bank and inter bank right? But a privacy erc20 will only work inhouse and not be transferable inter bank?

>> No.16213333

>>16213224
one other way i see pressure cooking permissioned blockchains working is all these trusted authorities using Ethereum. Then nerds like Dinwiddie use the public blockchain to tokenize contracts or other things. Sort of individuals being their own financiers. I haven't read into how it's so much different from RVN style tokenization, but it's really cool if I can tokenize stuff and open up new areas of investment. I could invest in a tokenized version of fine art, a cellar of wine, even hedge the future of my legal job my buying tokenized version of programmer contracts. But word needs to get out and that's anaethemical to the idea of a permissioned blockchain right? Quorom is nothing but private ETH with no miners and private/ free transactions

>> No.16213373

>>16213186
>>16213320
https://www.coindesk.com/zcash-will-get-a-gateway-into-ethereums-defi-ecosystem

thanks anon

>> No.16213388

>>16213153
There is no use for ETH, once companies figure out how to make their own private ETH forks. Why the fuck would companies want to do business with other companies??

>> No.16213421

>>16213388
Totally wrong. The public chain leaves validation to random miners/stakes who you don't have to trust to get the job done. A permissioned chain is validated by people you need to trust so its no different than a centralized system. The only advantage to using a pemissioned version of ethereum is to make use of EVM and smart contracts. From the point of view of the bank there is no difference between the two other than privacy and price stability, one of which is already solved.

>> No.16213425

>>16213388
because every time you want to do business with another company, you have to bootstrap them into your private ETH fork.

Why the fuck even bother with a blockchain then.

>> No.16213505
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16213505

>>16213153
Permissioned blockchains aka walled gardens make 0 sense if they cant talk to eachother or public chains we have centralsied databases allready
Go back in history and see how many private networks and private interwebs existed before everything connected in internet you know today
But they need base layer and standardisation on protocol level first.
So you as eth holder hold part of/gas of network and with pos if staking help secure it.
Did you noticed how every permissioned shit like heyperledger and rest allready is part of EAA and making bridges to eth mainnet.
Or how EY wants to start on eth mainnet from getgo and why: https://www.youtube.com/watch?v=i2q-aoDVRRY&t=334s
(think this video answers all your bulletpoints acually)

I would argue everyone doing permissioned networks on eth forks today is most bullish case for eth out there.

>> No.16213526

>>16213388
>Why the fuck would companies want to do business with other companies??

Are you like retarded?

>> No.16213535

>>16213186
>Bank
>Using permisionless dlt
Idiot
>Bank
>Using DAI
MOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOORON

>> No.16213724

>>16213505
thanks anon, will watch.

>> No.16214000

>>16213159
THIS, fuck decentralization. A single global currency is the way to go.