Apr 282017
 
Greenfire supports blockchain business and technology. It is a belief held by Greenfire that business is growing into a blockchain technology based accountability system that will provide the move into a more sound money system. Aaryn Prettyman   Maybe you’ve heard the term “blockchain” but aren’t quite sure what it is. You’d be in good company. However you may want to start learning, as it just may be a technology platform that changes the ARM industry someday. In super-simple terms, blockchain is a decentralized way of keeping track of what is “true” (i.e. who owns what, who has signed what, who has paid what, etc.). This decentralized mechanism is called a “distributed ledger” – imagine a town checkbook, but instead of living in city hall, everyone in the town has a copy of it. Each time an entry is made it must be validated by everyone with a copy, and then everyone’s copy is updated. Each update is a new “block” in the “chain,” and each block needs all the other blocks to form the whole picture. The result is said to be a highly secure, transparent, interdependent chain.  Today, most information is tracked in major centralized databases owned by one company (or government) or another. As we know, these databases are often vulnerable to hackers, they are not at all transparent, and they can be difficult to get corrected when they are wrong. This has created a lack of trust in our systems, and makes it frustrating to do business. Blockchain was first used to manage bitcoin, the new kind of electronic currency that pretty much operates on the fringe. But many are now experimenting with a wide range of other, more mainstream uses. One example is that the State of Arizona has just passed a bill giving legal status to smart contracts and blockchain based signatures. Here’s what the bill says, "A signature that is secured through blockchain technology is considered to be in an electronic form and to be an electronic signature. A record or contract that is secured through blockchain technology is considered to be in an electronic form and to be an electronic record. Smart contracts may exist in commerce. A contract relating to a transaction may not be denied legal effect, validity or enforceability solely because that contract contains a smart contract term. For the purposes of this section: “Blockchain technology” means distributed ledger technology that uses (more…)
Mar 112017
 
GreenFire DAO, Announces A Cryptocurrency Crowdsale for Its GLD gold backed currency, a Landfill Mining Asset Currency The GreenFire DAO project has announced its upcoming crowdsale of GLD cryptocurrency, a gold backed currency for current and future Landfill Mining and “Children of the Landfill” projects. Panama City, Panama – The Panama-based GreenFire DAO studio. GreenFire DAO is launching a crowdsale of its GreenFire DAO (GLD) cryptocurrency. The soon to be launched crowdsale will involve custom gold backed tokens based on the Infinity-Economics’ next generation blockchain. The GLD cryptotokens, sold during the crowdsale will serve as an in-project currency for the landfill mining projects and the “Children of the Landfill” eco-village development. The GLD and the IoT for the projects are developed by GreenFire DAO Studios. Subscribers to GreenFire DAO crowdsale can use the tokens on the Infinity-economics exchanges — a cryptocurrency,universal wallet and exchange. With the GLD cryptotokens, investors will be able to buy the many manufactured items produced by the 3D printing manufacturing included in the “Children of the Landfill” eco-villages. All purchases made on the platform get recorded on the Infinity-economics blockchain, enabling GLD holders to share, trade, sell, register and safely store digital assets. The use of the advanced blockchain by Infinity-economics also allows investors and asset owners to verify their holdings at any time. Assets owned by the investors on GreenFire DAO network are free from third-party intervention. It prevents others from seizing, deleting or modifying the assets or the markets on which they are exchanged. The GreenFire DAO team continues to develop both the current as well as new sub-currencies. All the sub-tokens developed by GreenFire DAO will support and use the native Infinity-economics blockchain and exchanges just as GLD tokens, all will be interchangeable. The GreenFire DAO team will be creating tokens according to the GreenFire DAO asset value on deposit. Presently GreenFire DAO has assets to issue 2 million tokens at an assured base price of $50USD. 100,000 GLD tokens, out of 2,000,000 GLDs will be made available to the crowdsale participants. The rest of the 2,000,000 GLD tokens will be held on deposit for later distribution GreenFire DAO has already made its whitepaper and supporting credentials available on the website. It will soon announce the exact dates for the upcoming GLD Crowdsale as well. In preparation for the Crowdsale, you may download your free Infinity-Economics wallet at http://infinity-economics.org/ About GreenFire DAO The (more…)
Feb 172017
 
We are GreenFire DAO, an industrial blockchain application for Landfill Mining & Reclamation and its cryptocurrency, the “Gladiator” (GLD), a gold and asset backed global trade token. Our solution is the creation of a decentralized autonomous organization, the GreenFire DAO to manage this project. To fund the GreenFire DAO creation, a crypto token, the “Gladiator” (GLD), is issued and may then freely traded, with its value reflecting the productivity of the GreenFire DAO and the constantly increasing gold and cash backing. The “Gladiator” Token is available HERE , The Gladiator (GLD) is backed 2:1 with assets on deposit. If you are interested in participating in the reclamtion of global open dumps and help stop the 20% stream of additional global pollution coming form them, then, please buy a Gladiator Token. For Friends and visitors – a 15 day 50% discount, Go to http://greenfirefunding.com and purchase with this discount code: insidethedao Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
Dec 302016
 
Russian Airline and a Bank Execute a Blockchain Service Payment – CryptoCoinsNews The post Russian Airline and a Bank Execute a Blockchain Service Payment appeared first on CryptoCoinsNews. up JSC Siberia Airlines, commonly known under its operative name of S7 airlines has executed the first of its kind service payment using Ethereum blockchain smart-contracts through a letter of credit, with Russia-based Alfa-Bank. The announcement reveals that the agreement took place between the airlines and a counterpart using a letter of credit, through Alfa-Bank. A letter of credit is issued as a bank guarantee that payments will be made to a seller from the buyer. The bank issuing the letter of credit is obligated to cover the amount in the event that a buyer is unable to make the payment. Services giant Deloitte acted as the advisory consultant to the airline on blockchain technology, whilst providing legal support to the project. With the deal, smart contracts helped record the bank’s actions of opening and executing the letter of credit on a blockchain. In providing a conclusive statement, Artem Tolkachev, director of legal services for tech products at Deloitte said: Legally, this transaction meets all the requirements for a letter of credit as a form of bank settlement, and demonstrates the potential of smart contract application in the framework of Russian legislation. The Blockchain Service Payment The bank specifically provided members of the deal with an electronic “Alfa-business online” system where a customer could apply to open a letter of credit while a contractor is enabled with providing the bank documents upon provision of services. A “special cover account” sees funds written off from a customer’s account when the letter of credit is issued, and the funds reach the contractor’s account upon submission of documents confirming the transaction. S7 airlines deems the opening and the utilization of the letter of credit as the two main facets of the deal. “A blockchain record includes a hash (result of encryption) of the following information: deal identifiers (Taxpayer Identification Numbers (INN) of the customer and the contractor and type of works) and commercial terms (value of the letter of credit, date of opening and closing of the letter of credit),” the announcement explains further. The airline group’s deputy director general Dmitry Kudelkin added: By conducting the deal, we have tested efficiency of smart-contracts and realized how this technology could help to optimize business-processes and improve (more…)
Sep 272015
 
Cara Anna, Associated Press Updated 7:49 pm, Saturday, September 26, 2015 UNITED NATIONS (AP) — China’s president on Saturday pledged billions in aid and said Beijing will forgive debts due this year in an effort to help the world’s poorest nations, as world leaders begin to seek the trillions of dollars needed to help achieve sweeping new development goals. President Xi Jinping spoke at a global summit that on Friday launched the non-binding goals for the next 15 years. Xi and others spoke as the U.N. gathering began to shift focus from development to the high-powered General Assembly meeting that begins Monday with speeches by Xi, President Barack Obama, Russian President Vladimir Putin and Iranian PresidentHassan Rouhani on the first morning alone. Obama and Putin will meet Monday. The prospects for any meeting between Obama and Rouhani, even a handshake, remained unclear. Rouhani arrived Saturday and immediately was encouraged by U.N. Secretary-General Ban Ki-moon to have Iran step up to help achieve political settlements to the grinding conflicts in Syria and Yemen, where Iran has influence. The Islamic republic is a top ally of the Syrian government of President Bashar Assad and supports Shiite Houthi rebels who have held parts of Yemen for months. Iran’s president said in his address that the recent deal with world powers on its nuclear program “has created suitable conditions for regional and international cooperation,” including on protecting the environment. As world leaders met quietly behind the scenes, others lined up to express support for the new development push that aimed to eliminate both poverty and hunger over the next 15 years. They replace a soon-to-expire set of development goals whose limited success was largely due to China’s surge out of poverty over the past decade and a half. China’s president vowed to help other countries make the same transformation. Xi said China will commit an initial $2 billion to establish an assistance fund to meet the post-2015 goals in areas such as education, health care and economic development. He said China would seek to increase the fund to $12 billion by 2030. And Xi said China would write off intergovernmental interest-free loans owed to China by the least-developed, small island nations and most heavily debt-burdened countries due this year. He said China “will continue to increase investment in the least developed countries,” and support global institutions, including the Beijing-backed Asian Infrastructure Investment Bank that is due to launch by the end of the year and is seen as a Chinese (more…)
Sep 092015
 
US dollar dominance finances Washington’s reckless spending, global militarism, its empire of bases, endless wars, corporate takeovers, as well as speculative excess creating bubbles and economic crises – at the expense of democratic freedoms and beneficial social change. China, Russia and other nations increasingly trading in their own currencies pose a significant threat to dollar dominance. Mahdi Darius Nazemroaya explained Washington’s currency war on China, saying: The Chinese are in the process of displacing the monopoly of the US dollar. They are dropping their US Treasury bonds, stockpiling gold reserves, and opening regional distribution banks for their own national currency. This will give them easier access to capital markets and insulate them from financial manipulation by Washington and Wall Street. China bashing by public and private US officials is part of a campaign to denigrate its government – making inflammatory accusations without proof about hacking, defying its legitimate right to do what it wishes in its own waters, and threatening sanctions – legal only by Security Council members, never by individual countries against others, Washington’s longstanding weapon against independent governments. “As the financial architecture of the world is being altered by China and Russia, the US dollar is gradually being neutralized as one of Washington’s weapon of choice,” Nazemroaya explained. The post-WW II US-dominated international monetary system is threatened with unraveling. Washington is fighting back with propaganda, energy, financial, economic and currency wars against China and Russia, said Nazemroaya. Russia sold a fifth of its $125 billion in US Treasuries holdings last March. China’s US Treasuries holdings exceed $1 trillion dollars. It’s been aggressively dumping them. It’s gone from the world’s largest buyer to its biggest seller. Will other countries follow suit? Nations are increasingly trading in their own currencies. Weakening America’s financial strength is the best way curb its imperial ambitions. Russia drafted legislation aimed at eliminating dollars and euros in trade between Commonwealth of Independent States (CIS) countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Russia, and other former Soviet republics. A Kremlin statement said “(t)his would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets.” It would facilitate regional trade and help achieve economic stability. It would reduce dependency on the world’s two dominant currencies. China’s central bank launched a Heilongjiang Province yuan/ruble program – Russia’s currency replacing the dollar. Both countries are increasingly trading (more…)
Sep 012015
 
Forex FactoryThese reforms include deepening its capital markets and increasing the importance of the yuan in the global economy.3 Some commentators have argued that the yuan may become a global reserve currency in the near future, given these reforms and …China Follows IMF’s Market-Opening Prescriptions Through TurmoilBloombergChina’s political interventionsThe Japan TimesChina’s Two-Yuan DilemmaWall Street JournalSalt Lake Tribune -MarketWatchall 392 news articles Source:: http://news.google.com/news/url?sa=t&fd=R&ct2=us&usg=AFQjCNF3woSNNT9pGI4ot5BgZFvn5fzCpA&clid=c3a7d30bb8a4878e06b80cf16b898331&cid=52778941084090&ei=T_bkVcDYIYLS8wHE1IKYDg&url=http://www.forexfactory.com/news.php?do%3Dnews%26id%3D555643        Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)
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Aug 312015
 
Extracted from BBVA Research on Digital Banking. What is Blockchain? Blockchain is a peer-to-peer public ledger maintained by a distributed network of computers that requires no central authority or third party intermediaries. It consists of three key components: a transaction, a transaction record and a system that verifies and stores the transaction. The blocks are generated through open-source software and record the information about when and in what sequence the transaction took place. This “block” chronologically stores information of all the transactions that have taken place in the chain, thus the name blockchain. In other words, blockchain is a database of immutable time-stamped information of every transaction that is replicated on servers across the globe. This technology is the foundation of bitcoin, a crypto currency. In traditional transactions such as money transfers or foreign currency, there is usually an intermediary or a centralized entity that records the transmission of money or currency that exist apart from it. In blockchain, the token or digital coin itself is what has value, which is determined by the market. This is what makes the system a truly decentralized exchange. When people buy or sell cryptocurrency, a secret key or token is broadcast to the system. “Miners” use nodes, computers or devices linked to a network, to identify and validate the transaction using copies of all or some information of the blockchain. Before the transaction is accepted by the network, miners have to show “proof of work” using a cryptographic hash function –a special algorithm- that aims to provide high levels of protection. Miners receive some form of compensation for their computing power contribution, avoiding the need to have a centralized system. New protocols such as Ripple rely on a consensus process that does not need miners nor proof of work and can agree on the changes to the blockchain within seconds. In any case, the blockchain offers an inherent level of trust for the user, eliminating the need for the middleman and mitigating the risk of human error. In this public ledger, the data is protected against tampering and revision, and individuals cannot replace parts of the blockchain as the cost of doing so is significant – hypothetically one would need to control more than half of the “nodes” to surreptitiously alter the block chain. The Disruption While cryptocurrency itself has received a lot of criticism, the blockchain technology is thought to offer great (more…)