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1,703 Posts.

31

02/02/18

16:06

Post #: 30776743
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Originally posted by abdm ↑

Hi Cuse,

IvyKoin's business model proposes the addition of a second intermediary for each transaction. How does this improve on Satoshi Nakamoto's original vision of creating a purely peer-to-peer version of electronic cash payments to be sent directly from one party to another without going through any intermediary. One of the core principles of the Bitcoin Blockchain technology is to eliminate the need for 'trusted gateways' - this is what makes it disruptive.

While Mr Duncan did address this point he also suggested that, "there is no platform in the market that can compete with the ‘ease’ factor that banks provide" however I would encourage him to have a closer look at some of the projects Bitcoin developers are currently working on, in particular, Atomic Swaps, Lightning Network and RSK Smart Contracts. In fact the Bitcoin Lightning payment system is designed to be incompatible with the AML/KYC obligations of the financial sector including cryptocurrency exchanges.

The capital raising firm will receive fiat, ETH and BTC payments?

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Hi Abdm, r u able to share any thoughts on OBJ?

cheers,
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