Bitcoin is getting zk tech if we are to believe their coders’ newsletter that says a privacy focused wallet which got the attention of Europol, Wasabi, is now working on confidential transactions, which is more commonly known as zero knowledge techniques. They say:
“This allows a client to create a commitment to arbitrary output amounts and—without revealing the amounts—prove that each amount is individually within a specified range (e.g. 0.0001 BTC to 21 million BTC) and that they collectively sum to a specified value.”
This is a mixer, with the above basically being a way to allow for even more fine tuned mixing. Or we’ve understood none of it now that we’re far too tired to look at much of it.
Because this is news of news, the bit where we clean the desk as quickly as possible to make way for tomorrow’s new tabs.
Starting with Saudi Arabia. They’ve put out a fairly interesting press release describing the use of blockchain tech for the specific requirements of Islamic Finance.
You can’t have interest there, so to force repayment, you have late payment fees which go to charity. Since neither the bank nor the customer might have a profit motive here – and a disincentive for both in regards to costs of enforcing collection – many of these late payment fees go unpicked.
They say their blockchain design adds incentives for these fees to be picked, but don’t describe how so, if we have time to find out then maybe we’ll fully cover it.
“This is chicken 2.0 in China,” said Jackson Chan, managing director of Cargill Protein in China, adding:
“Our Sun Valley RWA chicken products have passed more than 100 tests to ensure high food safety and quality.
Through digital innovation, we are now offering traceable protein products for the Chinese market.
This launch is an important step in bringing more protein options to consumers with better traceability and product quality for local consumers.”
Yes, actual chicken. You get out your phone, you scan
barcode QR code, and now you know everything about the chicken. All of it on the blockchain of course.
Not a blockchain, blockchain, but, it’s not too far off actually because here conceptually speaking you have a blockchain of both code and humans.
It’s a platform where all can write to it but no one can edit what others have written, not even the admins, and if they do edit then you can see they have done so.
Making it a bit less blockchain and more digitization of paper, with China moving very fast in that area as they lacked many of the rigid structures during the leapfrog over the past two decades.
That same sort of blockchainish digitization is coming to Bangkok but for a different use case. They say:
“The innovative technology will help provide information associated with value-added tax and inspecting VAT refunds to reduce fraud, said Finance Minister Uttama Savanayana.
In the next stage, Mr Uttama will seek to connect data from three tax-collecting agencies — the Revenue Department, the Customs Department and the Excise Department — using blockchain technology to increase working and inspection efficiency.”
The irony of blockchain tech being used to make tax collection more efficient won’t escape bitcoiners, but what they mean is a way to share data without anyone being able to change the data after it has been shared, making it more the Estonian method.
ConsenSys wants stake, not for itself but they’ve come up with a pan for others to use it. They say:
“Codefi Staking is built on top of a trusted software stack built by ConsenSys. The mission is to provide a white-label institutional grade API, with easy and efficient access to the Ethereum 2.0 network to enable enterprises to safely and profitably engage with the next phase of Ethereum’s evolution.”
A $1.2 million home has been sold for bitcoin in Turkey, with it unclear who exactly got the better deal.
That’s while Grayscale continues its excellent marketing, bringing them an all time high price for eth, but only if bought through their loopholed derivatives courtesy of SEC’s last century bureaucracy.
That’s despite the many European ETFs, or of course the ethereum based modern ETFs like Curve which give unusually high interest rate returns for your ethernized dollars.
“On Monday June 22nd at 1pm CEST the Barcelona ($BAR) Fan Token 48 hour flash sale will begin on Chiliz.net & Socios.com.”
They say, with this apparently being some sort of tokenized share in the actual FC Barcelona club.
As we said at the very opening this is the section where we don’t do much verification, but Coindesk has covered them before so you can blame them if this isn’t that related to the football club.
That said, Coindesk usually does less research for their full articles than we do even in this section, so do your own research.
“( youtube please listen my problem
Folded hands ) My channel has been removed without any warning. 28 days passed on appeal. i didn’t received a reply.”
That’s an email we were sent with the sender clearly taking an effort to persuade us to take the time, but we’re nice and to be fair to him, arguably he has no reason to think we would take the time.
We don’t know if the channel is legitimate since it has been ‘terminated,’ but obviously this isn’t the first crypto related suspension and to be fair to gulag they have been dealing with actual scam livestreams for months.
There have been quite a few mistakes by their bots which they have reverted with the monstrous ‘support’ service by gulag needing no elaboration.
Still, not their fault. It’s the fault of whoever decided to turn off online innovation like a switch, with it happening about seven years ago when VCs got fat and rich and told the new entrants to not touch the gulagsis.
Openly they have been repeating for years the ‘fact’ you can’t compete against gulag et al which obviously translates to they won’t fund your startup if its within the gulags’ “buffer zone.”
Thus there’s one youtube, there’s one wikipedia, in our so called competitive capitalism with these same gulagers arguing we’re free to use another service or that a semi merger of the state and corporations is still capitalism.
Semi, that’s now becoming a full blown merger, with intellect naturally wondering whether these words can still freely be said in five or ten years time.
Hence the need of course to take back control and have an actual competitive space where projects are funded not by a handful of billionaires or the state, but by us.
As has often been the story in this space, it so happens its very capitalist design and its very objective balance of incentives translates to very powerful allies even in unexpected places.
So as many projects right now are struggling and many ideas that have been tried or proposed are being challenged, one should consider the limitations of the offerings of others and less the perfection of previous promises.
The tech scene is ripe for disruption in every sphere and in every way. It just so happens this is the window where our space has the opportunity to do it.