Microsoft Announces Availability of R3’s Corda Blockchain Platform on Azure
R3’s blockchain software Corda, developed by the Fintech startup alongside 70 of the world’s biggest banks forming the R3 consortium, is now available on Microsoft’s cloud computing platform, Azure.
Announced quietly last week, the revelation comes soon after Corda’s code was contributed to the Linux Foundation-led Hyperledger Project on November 30. R3 first announced its decision to go open-source with Corda, the product of its Concord blockchain product, in October this year.
Elaborating on R3’s year-long development, Richard Brown, technology chief at R3 claims:
Corda is a distributed ledger platform designed from the ground up to record, manage and synchronize financial agreements between regulated financial institutions. It is heavily inspired by and captures the benefits of blockchain systems, without the design choices that make blockchains inappropriate for many banking scenarios.
Corda’s availability is the latest offering and addition of Microsoft’s blockchain services toolkit called Project Bletchley. First announced in June 2016, Project Bletchley is Microsoft’s endeavor to push for “an open, modular blockchain fabric powered by Azure.” Fundamentally, Microsoft is looking to provide comprehensive solutions with blockchain technology for customers on various platforms, as Blockchain as a Service (BaaS).
R3’s Blockchain Demo Available
Microsoft’s announcement includes a demo offering of Corda via virtual machine image. While this author hasn’t tried the demo prior to publishing, Microsoft claims the demonstration will showcase Corda’s capabilities through real-world scenarios such as interest rate swap deals. Details reveal that deployment will take 3-5 minutes for the virtual machine to be created, one which will deploy a multi-member Corda demo network. The demo isn’t charged, but usage of Microsoft’s resources including storage, networking and computing will be billed.
R3’s blockchain software Corda is now available on Microsoft’s clould computing platform, Azure.
Brown’s comments above point to a marked difference in the ‘design choices’ made by Corda compared to a public blockchain, like bitcoin’s ledger. These choices include developing the Corda blockchain platform within the confines of legal and regulatory frameworks, a focus on privacy and the means to achieve a modular consensus.
R3’s CTO added:
By making simple Corda demos available on the Azure Marketplace, R3 and Microsoft are making it easy for newcomers to experience Corda for themselves before joining the community.
R3’s efforts to push its blockchain product for wider adoption (with its notable call to go open-source) comes during a time when the New York-based startup is losing some of its notable banking members. The likes of Goldman Sachs, Morgan Stanley and Banco Santander have all decided to exit the consortium after a year’s membership.
Bitcoin’s Big Problem: Transaction Delays Renew Blockchain Debate
Bitcoin is facing a major problem as the time it takes transactions to be processed has increased dramatically leading businesses to stop accepting the cryptocurrency and others to issue warnings that the problems could be terminal.
The problem is not something that has come out of the blue with those within the bitcoin community as well as researchers pointing to this looming issue for some time. The problem relates to how transactions are processed on the blockchain, the decentralized, distributed ledger technology that underpins bitcoin.
The average time it takes for a bitcoin transaction to be verified is now 43 minutes, and some transactions remain unverified forever. Some of the problem stems from the fact that anyone can add a fee to every bitcoin transaction, which bumps that transaction up in the queue, meaning that those who didn’t pay such a fee — or didn’t pay a sufficiently big fee — may be waiting hours and sometimes even days for a transaction to complete.
This is how it works. When someone uses bitcoin to pay for an item in a shop, that transaction needs to be verified on the blockchain. This is done by what are known as miners, individuals or groups who use massive computing power to solve increasingly complex mathematical equations to mine new bitcoins, which come in “blocks” and are mined about every 10 minutes. These blocks are used to record all transactions made on the bitcoin network, and have a maximum size of 1 megabyte (MB), meaning they can record just seven transactions per second at most.
To put this in context, Visa says its payment system processes 2,000 transactions per second on average and can handle up to 56,000 transactions per second if needed.
The result of the slowdown in transaction clearance rates has led some businesses to give up on bitcoin completely while others are recommending users to switch from bitcoin to alternative cryptocurrencies like litecoin.
The problem grew so large this week that at one point there were 40,000 bitcoin transactions waiting to be cleared — though at the time of writing, that figure has dropped to under 10,000. This drop has mirrored a drop in bitcoin’s dollar value this week, going from over $917 on Friday to under $863 yesterday, according to Gemini's tracker.
The bitcoin community has split into two distinct groups over the past years. The first group is known as Bitcoin Core, the network’s volunteer developers who want to change the way the signatures are stored on the blockchain rather than increase the size of the blocks. The other is known as Bitcoin Classic, a group comprised of developers and enthusiasts who propose the adoption of an alternative blockchain (incompatible with the original) that would increase the block size to 2 MB, a move it believes would increase user adoption.
Bitcoin’s architecture worked well when it was not widely used, but with over 200,000 bitcoin transactions processed every day and a market capitalization of over $14,588,828,445, the system is beginning to creak.
The problem was flagged up earlier this year by one of the main developers of bitcoin over the last five years, Gavin Andresen, who told MIT Technology Review at the time that the problem with bitcoin’s limited transaction rate "is urgent."
"Looking at the transaction volume on the bitcoin network, we need to address it within the next four or five months,” Andresen said.
Then last January, another core bitcoin developer Mike Hearn penned a widely read missive on Medium, which declared bitcoin a failure. “[Bitcoin] has failed because the community has failed,” Hearn said. “What was meant to be a new, decentralized form of money that lacked ‘systemically important institutions’ and ‘too big to fail’ has become something even worse: a system completely controlled by just a handful of people in China.”
These concerns were backed up last month with the release of a research paper from a large group of researchers mostly affiliated with Cornell University, titled “On Scaling Decentralized Blockchain.” The research suggests that bitcoin would need a complete redesign if it is to support a much larger network of users and transactions.
In a blog post this week, Andresen said that the block size limits are there to protect the network from attacks — and so far that method has been effective. He added that the current problems could be highlighting an underlying problem. “In my view, people are using the block size limit for something it was never meant to do — to influence how people use the bitcoin blockchain, forcing some users off the blockchain,” he said.
It is time for a new evolved enterprise solution.
Enter the impending launch of a new type blockchain that is a POS (Proof of Stake) in contrast to Bitcoins POW (Proof of Work). A truly exponentially expanded distribution that has no latency and gets even faster as it grows.
The technology is in the phone apps, not big cumbersome Mining Computer systems.
And this prevents the density of miners in one area or country as Bitcoin is mostly mined in China. And there are many reasons to have concerns in that regard.
A new type of Blockchain coin that delivers a wallet that transacts all fiat and crypto currency, comes with a VISA debit card and is part of the POS system, thereby earning you money on an ongoing basis.
MCC (My Crypto Coin)
Launches January 10th on to all the exchanges, it will be exciting to watch how this progresses. MCC is in the final days of a Crowd Funding where you could fund at any level and find yourself holding a fortune as a result. Do not delay. Come to our meetings. There are only a few days left.
Bitcoin has had quite a month, rising from $725 to a high of $911 today.
Part of what is driving bitcoin's price movement is the financial turmoil in China. A weakening yuan in combination with increasingly strict capital controls in the country have driven investor's capital out of mainland china and into bitcoin.
Likewise, since the Chinese government considers bitcoin to be a commodity rather than a currency, it is impervious to foreign exchange regulators – meaning that it is nearly impossible for them to limit its upside.
But, in my opinion, China is only one of numerous reasons bitcoin has been rising.
The Trump effect as well and his embracement of the Blockchain apparent in his cabinet appointments as Kim Dotcom has also predicted Bitcoin to hit $2000 next year giving Trump much of the credit.
But, with it breaking out to all-time highs now, it begs the question, how high can it go?
Let's look at the total market cap compared to other money and sectors.
Bitcoin is currently near $14 billion of total market cap. If you multiply the total amount of bitcoins available (currently just above 16 million) by its current price you get its market cap near $14 billion.
At $14 billion, bitcoin has nearly the same market cap as silver.
But, when compared to Bill Gates, with a worth of $75 billion, bitcoin is still worth much less than the world's richest man.
When comparing it to companies, like Apple, the world's highest market cap company at $620 billion, bitcoin is still only worth 2% of the value of Apple.
And, compared to the total value of all gold in the world of $7.8 trillion, bitcoin is only 0.17% of that value.
Gold is likely the most similar item to compare bitcoin to. Like bitcoin, it is a store of wealth and considered by many to be money.
And given the ease of use of bitcoin and how digital the world is becoming, it is fair to posit that at some point bitcoin may be worth as much as gold.
If that were to happen the price of each bitcoin would have to be valued at $487,500.
Another item that could be compared to bitcoin is the value of all fiat money in the world. It is estimated, by the CIA Fact book, that there is about $28.6 trillion of coins, bank notes and bank deposits in the world.
If bitcoin were to replace all fiat currencies, something in which we speculate is certainly a possibility, the value of each bitcoin would be worth $1,787,500.
Will that happen anytime soon? Of course not. Could it happen? Absolutely.
So, if you think you have missed the boat on bitcoin by not buying it earlier… there are plenty of reasons to think that it hasn't even begun yet.
Will Latency Slow Bitcoin Rise
Yes bitcoin has doubled in value over the past year, however as more people turn to bitcoin then more miners are required to ensure transactions are completed quickly. China has a large share in mining pools, however in the past months some of them have been shut down for stealing electricity to power the computers required to solve the mathematics which builds blocks in the blockchain. the longer it takes to produce blocks the slower the transaction becomes.
There has been talk of fork to update the blockchain but there is no consences for this. Implimentation might also prove challenging due to its widespread distribution which perversly adds to it security.
Waiting in the wings is a new coin Mycryptocoin (MCC), which brings together the best of bitcoin and ether, but using Proof Of Stake(POS) to replace mining as all coins will be allocated at launch.
Smart contract and application can be run on the blockchain. Owners walletscan hold MCC and these can be bought and sold within the wallets with links to all other ccyptocurrencies, bank accounts, cards and other payments systems such as paypal. Truly a one stop wallet complete with its own Visa card.
Are you interested to join a brave new world, if so you are just in time to join an Initial Coin Offering (ICO) cloud funding project which is about to close.
MyCryptoWorld, has a lucrative offer at the moment which is going to be explained TODAY
Then remember to come to our webinar today at 12 noon MT on Friday 23rd December (Use http://www.timeanddate.com/worldclock/meeting.html enter Denver as location 1 and your own location to check your local time)
Join our live Webinars Every Day: For times and Webinar logins on go to the Markethive calendar: https://markethive.com/calendar
We have the opportunity right now to take a very good risk to acquire results into the millions of dollars.
Here me out and come to our live webinars. Time is running out.
The lessons learned in business. Paying attention and seeking knowledge. Pursuing wisdom and mentors with wisdom and experience
Case in point, Bitcoin 2009, where were you?
You see back in 2012 when Bitcoin was trading around a penny, I was aware of the new revolutionary tech called Blockchain. Aware, but very ignorant. I had $50,000 invested in bulk silver coin and gold 1 ounce Maple Leafs. I was totally focused on the wrong preparations for the immediate future
I am a smart, experienced, entrepreneur and have been my entire life. I created and built Veretekk with nothing more than my visions, and my bare hands. There was no one before me to teach me. I joined UCSD’s Super Computer center to learn how to build the tools I envisioned and with the help of George Kremeneck and the partnership I built with Jeff Balmeo, we, laid the foundations, for what is now Markethive, the first off, Market Network (evolving from the Social Networks). I invented Inbound Marketing in the mid 1990’s Way way to early.
Markethive is a new wave technology, born from 20+ years of endeavor, innovation and dedication. It’s time has come. Why? And why am I discussing the summary history of and birth of Markethive?
Because it needed the Blockchain to morph into the most powerful social network what the pundits have identified as the new Market Networks that will dwarf the “Social Networks” and we are the first to produce one.
But Markethive needs a Blockchain to produce a shopping platform that every single human could utilize to build wealth regardless of nationality or residency. That is our mission, and MCC’s blockchain has given us the foundation to do it.
So, how in the world did I miss it in 2009-2012? I was not “Paying Attention” If I had paid attention, I would have liquidated my small holding of silver and gold, and purchased $50,000 worth of Bitcoin at less than a penny per coin.
Segway to the near completion of Markethive, discovering that Markethive was actually a Market Network, a new market to supersede the Social Networks, as has begun recognition of this new burgeoning SAAS, Social Network, market platform predicted to eclipse the Social Networks and become the first Quadrillion dollar market.
Markethive (over 20 years in development) is ready to launch, as the new Market Network.
In that process we are seeking capital investors. And along came MCC, as this new emerging Blockchain company, they see the future and raw power potential in Markethive.
So James Wilfong and I talked about their investing into Markethive. We negotiated 5% of the Markethive stock for $5 million. This comes about in January after their ICO (Initial Coin Offer).
A few weeks after the negotiations I started really looking at the bitcoin market, educating myself, researching etc. As I did so, it started to form from the fog, that perhaps MCC (MyCryptoCoin) was more then I realized at first.
Now understand; as I did this research it dawned on me that back in 2008 when I started buying up Gold and Silver bulk coins (not collector coins) at around $800 per ounce. About $50,000 worth.
If I had paid attention to the Bitcoin revolution and bought the same amount I would have over $4.5 billion today. This caught my attention. I have seen a similar event with the Internet, but this is actually hundreds of times more intense. In fact, this trend (revolution) will likely be bigger than any other event in the history of mankind.
I started to realize that what MyCryptoCoin was doing was not just another coin, MyCryotoCoin’s DAO (Do you know what that is?), Their own Blockchain, their own proprietary Wallet, all developed with engineers that came from Bitcoin and Etherium, are about to launch the next level in this revolution. I call it bitcoin V2 and will address and solve the latency of Bitcoin, will give Markethive the ability to offer an Ebay type shopping platform that will allow all forms of live payment processing within 2nds.
Listen carefully, Markethive will be able to offer an Ebay type shopping platform that will accept all forms of payment. With MyCryptoCurrency over coming Bitcoins bottle neck of latency, transactions in crypto coin, fiat accounts (ACH), credit cards, 3rd party wallets like Payza, and Paypal will all be accepted with instantaneous transactions. Instant, no waiting (like) occurs with today’s crypto coins.
This is a substantial technical advancement that will both catapult Markethive becoming a trillion dollar Market Network, eclipsing LinkedIn (A social network) with monthly profits in the billions. Think I am kidding?
Fueled by MCC (mycrytocurrency) another huge disruptive company poised to launch, which I am convinced will eclipse Bitcoin, because they will be launching the “Latency” solution Blockchain, an advanced Wallet that solves the online Merchant Account issues and a series of other proprietary technology that will bring the CryptoCurrecy revolution into the main stream.
Did I mention? No I did not. Until the year end, we are offering you the option to purchase 3 million coins and $500,000 worth of Markethive stock for a ridicules low cost. We have other incredible packages that I can personally embrace as being one of those once in a lifetime events were you can leap from your financial level into wealth. Making literally millions even billions in dollars in profits.
I missed the first wave with Bitcoin in 2009 but I am firmly paying attention this time.
Come to the meetings! Do not miss this! CHECK THE CALENDAR
Bitcoin Caucus co-founder Mick Mulvaney is the US'
next Director of Office of Management and Budget.
It seems the election of Donald Trump could spell great news for American blockchain startups and cryptocurrency users. President-elect Trump has added to his cabinet an active and vocal supporter of cryptocurrencies and blockchain which means that there will be at least one powerful voice in the US government that will resist further efforts to legislate the technology into oblivion.
Trump picked Congressman Mick Mulvaney, Tea Party Republican, as his administration’s Director of Office of Management and Budget. He is considered a staunch fiscal conservative that wishes to drastically limit the federal government’s spending on social programs.
Just this September he was among the founders of the bipartisan Blockchain Caucus. Commonly called the Bitcoin Caucus by American media, it is meant to help congressmen stay up to speed on cryptocurrency and blockchain technologies, and develop policies that advance them.
Mick Mulvaney
“Blockchain technology has the potential to revolutionize the financial services industry, the U.S. economy and the delivery of government services, and I am proud to be involved with this initiative,” Mulvaney said in a statement back then.
Mulvaney is also a supporter of Coin Center, a non-profit research and advocacy center focused on public policy issues facing cryptocurrency technologies, which raised over $1 million earlier this year.
“For the past two years we have worked with Representatives Mulvaney and Polis to educate their colleagues through briefings and other events, and the new Congressional Blockchain Caucus will be a wonderful new platform to continue these efforts,” Jerry Brito, executive director of Coin Center said at the time. “Their forward-thinking leadership on blockchain technology in Congress is unmatched.”
Trump’s ascendancy will be confirmed in January – a time in which Kim Dotcom hopes to launch his Megaupload 2.0.
Saxo’s projected three-fold increase in the current price of the digital currency – currently at $760 – is similar to Dotcom’s prediction that Megaupload and its potential Bitcoin wallet Bitcache system could take the price of Bitcoin to $2000, based on the claim that the file sharing product would overcome Bitcoin’s scaling problems.
The anonymous cloud sharing, anti-surveillance, video hosting, Bitcoin-caching online service, that will serve the equivalent to the population of the Philippines (approximately 103 mln), is slated for a release in late January. Let’s hope he can pull it off.
China to exceed growth expectations
On Dec. 1, China restricted the importation of gold in order to prevent capital leaving the country. The country still plans to regulate the importation of gold to avoid the Chinese yuan from leaving the country.
As a huge determinant of the eventual quasi-synchronization in price between Bitcoin and the yuan, the Chinese trading volume will correlate with the price of Bitcoin in the coming weeks even as the Chinese central bank and authorities struggle to recover the value of the yuan which has fallen 5.8 percent against the dollar already this year.
Saxo Bank notes that China is expected to exceed growth expectations in the coming years, adding that the country’s current slowdown has been predictable due to elevated investment levels of around 50 percent of GDP while total debt has swollen to an unsustainable 237 percent of GDP.
Through massive stimulus from fiscal and monetary policies, and by opening up capital markets even more, the country successfully steers a transition to consumption-intensive growth surpassing current expectations and reaching eight percent growth in 2017.
India is ready for Bitcoin
Bitcoin’s price increased following the recent demonetization of the Indian rupee. Following this, there were suggestions that the government could be planning a ban on the importation of gold as the precious metal reached two-year highs in November. This, coupled with the growing awareness of Bitcoin in the world’s second most populated country and the Indian government's resolve to work on Bitcoin and the Blockchain framework before 2018, could push it to a tipping point.
In its Payment and Settlement Systems in India: Vision-2018, the Reserve Bank of India notes that it will be monitoring framework for new technologies/innovations in order to “ensure that regulations keep pace with the developments in technology impacting the payment space, the global level developments in technology such as distributed ledgers, Blockchain etc. will be monitored and regulatory framework, as required, will be put in place.”
This will improve the country’s payments ecosystem, it says, which has been evolving dynamically with the advancements and innovations taking place, particularly in the area of FinTech.
In a chat with Cointelegraph, a spokesperson for Zebpay agrees that there's been no talk of Bitcoin without the mention of India lately and this will continue for a little longer because Bitcoins are the new game changers in the era of cashless economy offering billions of Indians the ability to go cashless using digital currencies.
The spokesperson says: “We skipped the landline generation and have a modern mobile phone infrastructure. Similarly, India has the potential to skip the plastic money generation and build a modern financial infrastructure on this revolutionary technology.”
For Coinsecure CEO Mohit Kalra, India is rising to Bitcoin and 2017 seems promising for its adoption and usage.
"In terms of use, we are hoping to see more merchants start accepting Bitcoin in India. Demonetization and going cashless can definitely help boost adoption rates across merchants, businesses and individuals alike!"
P.S. At least move some of your money into Bitcoin. Here is a comprehensive list of Bitcoin exchanges. This is a new shift, much like the Internet. Do not reject this move, rather embrace it. The List: https://99bitcoins.com/best-bitcoin-exchanges-comparison-review/
These days, it’s hardly surprising to hear that a hot new startup has received gobs of money from eager investors. But a new company called the DAO (short for “decentralized autonomous organization”) is not your average startup.
The DAO, designed to serve as a kind of venture capital fund for the cryptocurrency community, is the first of a new breed of business. It has no CEO and no staff; indeed, it has no human management at all. The company itself is simply software that runs on a blockchain, the technology that powers digital currencies like bitcoin. Through its first three weeks, the DAO raised over $130 million from tens of thousands of global investors, and it’s not done yet. But regardless of how the company fares, its mere existence portends profound changes for business, government, and the roles that people play in our economy.
Analysts have questioned whether the DAO is legal or viable. Like any startup, it may fail. It may have attracted investors who don’t understand the risks. Some investors may be speculators in it for a quick buck, in turn, reducing the size of the fund. It may be attracting criminals or terrorists masquerading as entrepreneurs. To be sure, these are important concerns.
But the DAO’s debut is a watershed moment in the history of financial services. It demonstrates that autonomous entities can raise huge sums of money without traditional intermediaries. How will venture capitalists and investment banks respond to these blockchain IPOs that crowd-source hundreds of millions of dollars from a global invest
Even more significantly, the distributed autonomous enterprise raises the intriguing possibility that software could ameliorate, or even eliminate, some of the most vexing problems of management and mass collaboration.
Consider the impact of software that automates important aspects of governance and decision-making in a firm. Companies like this have no executive team, board of directors, or assets other than code. This could eliminate the possibility of managerial wrongdoing and incompetence. Such an organization will do what it’s coded to do, which is to act in the interests of those who hold its tokens. In the case of the DAO, the tokens are valued in Ether, the cryptocurrency of the Ethereum blockchain on which the DAO runs.
Meanwhile, stakeholders can review and vote on proposals for how the DAO will allocate its funds. Think about that for a moment. With such a company, there is no information asymmetry between management and stakeholders, because there are no managers. Nor is there room for moral hazard, where managers may behave contrary to the interests of their customers or clients, taking outsized risks for personal gain because they know they won’t suffer the consequences. There would be no way for the heads of an electronics conglomerate to overstate their earnings by $2 billion over seven years, as Toshiba’s did. Sports league officials couldn’t take bribes in exchange for hosting or broadcasting rights to big sporting events, as FIFA’s did. For regulators, there’s a lot to love here.
However, a DAO could act like a regular corporation in many other ways. It could invest in new businesses, support social causes, or back political candidates. It could hire lobbyists and a legal team to represent its interests and advocate on its behalf. Using smart contracts—agreements written in code that self-enforce—a DAO could do pretty much what any organization could do, with one important exception. On the blockchain, there is no way to override agreements, mission statements, corporate values, or operating principles without broad stakeholder discussion and consent.
That’s huge.
A DAO also offers perfect financial transparency. This is a tantalizing prospect for engaged and frustrated investors alike. The company’s finances are visible on the blockchain to anyone, not just its accounting department. (Of course, there is no accounting department.) Its corporate charter is enshrined in code for all to see.
That’s only the beginning. The software could also be used as a platform for integrity, a trust protocol of sorts, within traditional corporations. Stakeholders could participate in organizational governance directly and regularly, rather than by proxy or once a year at shareholder meetings.
Such an entity could also hire any human being or group via a smart contract on the blockchain, not through an HR department or procurement. Contractors would know the rules and norms for acceptable behavior and achievement in the collaboration, because they would be encoded in work orders and performance metrics. When they completed the job as specified, they could get paid immediately, not weeks or months later.
Stakeholders could receive dividends immediately, too, since real-time transparent accounting on the blockchain would make year-end reports unnecessary. The organization would hum along according to the trust protocols that governed it.
Imagine a global IPO with 100 million shareholders, each contributing a few pennies and voting their shares. That’s governance on a massive scale. At last, investors at the bottom of the pyramid could participate and own shares of a wealth-creating venture anywhere in the world. Anyone could design a corporation without executives—just stakeholders, money, and software.
We are not predicting a future in which there is no need for people in business. Human stewardship will be critical for these new kinds of business to succeed. In fact, in the last few days, surprised (perhaps alarmed) by the staggering success of the crowd-sale, the founders and early investors in the DAO have called for a moratorium on investment proposals for funding by the DAO. Among other things, they worry that bad actors could exploit the DAO to fund undeserving or fraudulent projects, or manipulate the value of tokens at the expense of the DAO as a whole.
So while the DAO code may run itself flawlessly, it is unable (for now) to fix itself in real time. Human problem-solvers can. Time will tell if they will succeed.
We think it is no accident that the DAO’s stated values include democracy and non-exclusion. Time will tell whether it can reach those loftier goals. But if it can, we may finally be able to democratize opportunities for prosperity and wealth. For anyone who cares about the integrity of the organizations that fuel the economy, the DAO is worth a close look as an alternative model of governance, collaboration, and performance.
Do you want the option to turn $50,000 into $3 million? Wait, and also received $100,000 in private stock in a rising emerging state of the art Market Network, and that $3 million potentially turning into billions within a few years even within one year?
Visionaries, Internet Geniuses, and Network Wizards will be hosting the next webinar where you will understand what the Brexit effect, the Trump effect represent in the economies of 2017 and how you could make a modest investment today and become a multi-millionaire next year.
If you had invested $50,000 into Bitcoin at its beginning you would be worth $4.8 billion today. That was the first wave of what is to become a series of waves each one a bigger wave than the last one.
We are now staring at the next wave. It is right in front of us.
The True Democracy how the Blockchain not only brings wealth to the common man and woman, it also prevents war. Because the blockchain ends usury and usury is needed to finance war. So the blockchain architecture ends the ability to wage war.
Stefan Molyneux (A brilliant and very nice guy) discusses why war becomes obsolete in the decentralized world of the blockchain.
Make sure to join our conferences, you can find the calendar for our meetings in our calendar here.
The crypto currency revolution is here. Bitcoin, the blockchain, ethereum, and the accelerating trend breakthroughs in new technology destined to change the world and empower the little guy and gals. Are you prepared for the future of decentralized global finance and blockchain governance? If not, well, it is advisable that you get that way quickly, because this global revolution will top anything we have ever seen, including the Internet itself.
If you position yourself ahead of this massive movement, you are in for the ride of your lifetime, and your finances could be where your dreams actually are, and then some. If you wait for the wave to pass, you could find yourself paddling harder than ever just to get to shore.
In the coming weeks, we will be educating you in everything you need to know about this coming wave in order to position yourself just right. As many of you already know, bitcoin began its rise to worldwide disruption in 2008 and rose from just a fraction of a penny to now around $750 each and steadily rising.
Of course, had you invested $5K to $10K in 2009, your investment would have made you worth hundreds of millions of dollars today. Do you think that would have changed your life some?
You may think you have already missed the boat, that the massive wave of higher than high earnings and the opportunity to invest at the forefront of this wave has already passed you by. Fortunately, nothing could be further from the truth. You are exactly where you need to be.
As with the Internet, it has taken some time for the world to grasp the scope and power of cryptocurrency, and for the technology to develop to the point where mainstream use and practical applications are both imminent and far reaching.
Our global financial world is about to take a whole new look and exist on a completely different platform. User friendliness and blockchain apps are now in a position like never before. Cryptocurrency is ready to go mainstream. Are you ready for the ride?
To get you ready, we will begin with an overview of bitcoin, the blockchain, how this all got started and most importantly, for you, where it’s all going. So be diligent and take the time to get educated now so you will be ready for tomorrow. And not only ready conceptually, but ready also to reach your financial dreams on top of the financial tidal wave of your life.
We will begin with some enlightening education about bitcoin itself, which of course, has made many multi-millionaires during its dramatic and turbulent rise to global awareness.
For those who didn’t invest when the time was right, it is almost too painful to think about missing out on opportunities of this magnitude. But like I said at the beginning of this article, the first wave in the set is not the biggest, an even bigger wave is coming in fast.
So take the time and get yourself ready. You will be so happy when your wave comes in and you are on top of it, riding all the way to financial freedom while the worldwide transformation unfolds under your feet. The best wave in cryptocurrency is still yet to come.
Enjoy this first step video and we’ll see you tomorrow as we build up to the big event.
News that Green Party presidential candidate Jill Stein has requested a recount in Wisconsin, and will likely do the same in Michigan and Pennsylvania, has raised faint hopes among Hillary Clinton supporters that somehow Donald Trump will not become the next president of the United States.
Now that Clinton's campaign has said it will participate in the recount efforts, those supporters' hopes have been lifted even higher.
To put the matter bluntly: They should give up that hope.
There is essentially zero chance that the recounts in Wisconsin, Michigan, and Pennsylvania will change Trump's lead, which number in the thousands, not hundreds, in all three states. Trump is winning Wisconsin by a little more than 27,000 votes; his lead in Michigan sits at around 11,000; and his lead in Pennsylvania is insurmountable at over 68,000.
This is not Florida 2000. On Election Night in 2000, George W. Bush held a 1,784 vote lead over Al Gore in Florida's election for president, representing just 0.031 percent of the 5.8 million votes cast in the state. After a recount — which the US Supreme Court halted by a 5-4 vote — Bush ultimately won Florida by 537 votes, securing the presidency. Yet even if the Court had allowed the recount to proceed, the margin would not have swung by much.
This is not Washington 2004, where a recount reversed the result, handing Democrat Christine Gregoire a 129-vote win over Republican Dino Rossi after he initially had a 261-vote lead on election night.
This is not Minnesota 2008, where a recount gave Democrat Al Franken a 225-vote win over Republican Norm Coleman, reversing Coleman's initial lead of 215 votes.
All of these recounts had one significant fact in common: the margin of victory was in the hundreds, not thousands. And the shifts in vote totals after the recounts were very small.
In the past 15 years, a statewide recount has reversed the winner from the election-night tally only three times — in the Washington 2004 governor's race (a 390-vote shift), the 2008 Minnesota US Senate race (a 440-vote shift), and a 2006 election in Vermont for Auditor of Accounts, which initially had a 137-vote margin on election night that changed to a 102-vote win for the other candidate after the recount (a 239-vote change).
FairVote, a nonpartisan organization that advocates for electoral reform, found that from 2000-2012 there were only 22 statewide recounts across the country, and the average shift in those recounts was just 0.026%.
But, a Clinton supporter might say, what if the machines were hacked? What if the election was actually rigged? It is an ironic sentiment given that Trump was the one claiming widespread election rigging before the election and Clinton supporters blasted Trump for refusing to say whether he would honor the results.
Irony aside, there is simply no evidence of election hacking, as Clinton's top lawyer, Marc Elias, himself conceded. Of course, now that Stein has begun the process, it is perfectly reasonable for Clinton and her lawyers to stay involved. But her supporters should not take that fact as a sign that the election is still in question.
Prolonging the campaign by seeking a recount breeds unwarranted doubt about the legitimacy of our elections — without any real evidence to back it up. Our democratic system relies on everyone accepting the result. That legitimacy suffers when mere speculation calls the result into question with little evidence of rigging and Electoral College vote totals that decisively determine a winner.
Moreover, all of this talk of recounts and election rigging obscures the more important fact about our elections: We impose too many obstacles on voters for no good reason. We need to work harder to eliminate onerous voting laws and make voting easier, not focus on long-shot recounts that provide only false hope. For instance, this recount effort does nothing to address issues surrounding Wisconsin's controversial voter ID statute, which improperly prevented some people from voting.
While Stein's futile recount effort should give no solace to Clinton supporters, there is a silver lining to the current debate: It might finally prompt Congress and state legislatures to devote greater resources to election technology.
We desperately need better voting equipment and stronger post-Election Day audits. Going into this election, experts warned about the woefully out-of-date equipment that most states use. Indeed, old machines — especially if they do not allow for a paper trail — raise the possibility, however small, of election hacking. Old machines can lead to long lines, lost votes, and other Election Day problems.
Updated voting technology can increase turnout by making voting easier. As just one example, Doña Ana County, New Mexico uses Voting Convenience Centers instead of precinct-based polling places, meaning that anyone in the county can vote at any of the 40 centers instead of having to go to their assigned home precinct. This makes it easier to vote near work or school and eliminates the possibility of having to vote via a provisional ballot — which could potentially not count — if a voter shows up at the wrong place.
This system shows that improved technology can both enhance the integrity of our election system — a standard Republican talking point — and also make voting more accessible to more people, thereby increasing the electorate — something Democrats usually strive to achieve.
The recounts in Wisconsin, Michigan, and Pennsylvania will do nothing to assuage the fears of Clinton supporters who recoil at the thought of a Trump presidency. But at a minimum, they should force politicians on all sides to re-examine how we run our elections.
Like it or not, Donald Trump will become our next president. Hopefully, when he runs for re-election in four years, we will have a stronger election system that makes voting easier, more convenient and accessible, less susceptible to manipulation, and more easily verifiable. That's the closest to a "win" that Clinton and her supporters can expect.
Blockchain opens 10 millionth bitcoin wallet after Brexit and Trump boost
London-based bitcoin wallet provider Blockchain has opened its 10 millionth digital wallet.
It comes almost two weeks after the company's cofounder and CEO Peter Smith told Business Insider the company would "pretty easily" have its biggest ever month for activity in November, following a surge in use after Donald Trump's shock election victory in the US.
He told BI shortly after the election: "People are basically hedging against economic instability. It's a worrying time to be holding a lot of British pound or if you're America — people flee to safe haven assets. Bitcoin is one of those."
Smith says in an emailed statement on Wednesday: "Hitting this milestone at this particular moment isn’t a coincidence. In the wake of the Brexit vote, the US Presidential election and a weakening Yuan, we have seen unprecedented levels of activity and transaction on our platform, which further suggests that people are embracing the need for a more globally accessible currency system, and one that does not exclude over one-third of the world’s population.
"We are excited to play such an important role in powering the world’s shift to a more open, fair and accessible financial system."
Blockchain lets people download software onto their computer that lets them open a digital wallet to store cryptocurrency bitcoin. The wallet, which lets people store their own bitcoin rather than hold it with Blockchain, can also be used to pay for things using bitcoin.
Blockchain employs around 25 people in London but also has offices in Luxembourg and New York. The company is the world's biggest provider of digital wallets for bitcoin, with over 50% market share, and processes over 150,000 transactions a day on average. It has raised over $30 million (£23.9 million) to date.
12 years ago I owned a home in La Jolla, had 4 cars (BMWs and a Jeep) a yacht, 4 companies and a 7 figure income. And then it slowly started collapsing, higher regulations, deeper debt, etc. Then the housing crash, etc. Obama took over, huge spending and great corruption. Bottom line, right now I have nothing but one new ready to launch company (Markethive). All debt gone but all income gone too. I am just hanging in there.
Now Trump arrives and I am more than hopeful. I am cleaning the rain gutters, digging the irrigation ditches deeper and restoring the reservoir dams.
Do you know why I say that?
It is the prophesied revival, the biggest renaissance in human history. The Rise of the Entrepreneur I have been preparing for over 20 years. (I am a bit of a prophet myself)
Reagan was only the foreshadowing of this event. It is during this revival Israel becomes the biggest energy country in history and a giant economic engine. (America is just an extension of Israel)
It is during this time the true Jews are restored to their home (hint: they aint white).
Trump is prophetic, even his name suggests that. He has already torn the deceptive veil back to reveal to the world the depth of corruption at hand.
We are on the cusp of an amazing economic nuclear explosion. Get your house in order!
Entrepreneurs are busy people. Many of us do realize the importance of business of writing and publishing an ebook, but we simply feel we don’t have the time to write a book, especially if you are already producing a lot of content with our blog(s).
I can think of many types of books you can write fast—especially by blogging them—and turn them into short ebooks. I am an active blogger as you probably know by the volume I produce in Markethive.
Case in point (and feel free to swipe them and make your own Ebook. An eBook on Inbound marketing.
The same can be done for email, social marketing, SEO, etc. utilizing my and others who allow swiping in Markethive. You see, you have no excuse.
Short ebooks can be anywhere from 15 to 100 manuscript pages in length. The completed book might be between 4,000-35,000 words long. This is, indeed a short book you write fast.
Create a content plan for you short ebook, and then don’t make more work for yourself than necessary. Keep your chapters short. Don’t write more than necessary. Blog your book, or write it as if you were blogging it; sit down each day and write 500 words. Then make each chapter 1,500-2,500 words long, for example. Each chapter will consist of 3-5 blog posts (each averaging 500 words). If you have 10 chapters, you’ll end up with a 15,000-25,000 word book.
By employing one of these seven short-book structures, you’ll write or blog your book fast. You’ll then be ready to get it edited, have a cover designed, and convert it into an ebook format. Before you know it, you’ll be using your short ebook (and maybe even a printed book, too) to promote yourself and your business.
Video support:
How To Publish A Kindle eBook Today On Amazon
Fast and Easy eBook Template in Word
Create Stunning eBooks & Lead Magnets In 30 Seconds
Many ebook publishers (and this could easily be you) make $200 or more per day selling their story, their knowledge, etc. in a ebook format. Combined with the viral and marketing power of Markethive many of you will learn how to produce a yearly income in excess of $70,000 a year.
What would that mean for you? It would give you the needed revenue to build additional businesses, right? After all we are entrepreneurs!
I (we) are pursuing funding for Markethive. It is a long and winding road. In this quest, we have met very innovative amazing people. Case in point James Wilfong a partner owner of an upcoming crypto coin company called MyCryptoWorld has an amazing system that is to the Crypto Coin market as Markethive is to the Inbound Marketing world.
The friendships between MyCryptoWorld, Markethive and Greenfire is growing and is opening up some amazing possibilities. This is what we are talking about this Sunday.
Come join me as I run the workshop system that lifts you up into entrepreneurial exceptionalism!
Markethive is a Market Network. That means it is basically broken down into 3 facets all integrated.
A market platform for conducting business
A social network primarily for entrepreneurs
A SAAS (Software as a Service) Inbound Marketing platform
All systems (Facebook included) have a learning curve. Our focus, our goal, is to deliver to you a gentle intuitive fun and rewarding learning process. We are in the process of turning the entire process into an automated structure. Regardless, this learning structure is designed to build you into a powerful , wealthy, successful entrepreneur.
Are you an entrepreneur? Good question. Not necessarily easy to answer. So here are a few definitions:
The classic definition (I do not totally agree with)
en·tre·pre·neur
noun: entrepreneur; plural noun: entrepreneurs
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so
Most people would agree that an entrepreneur is a person who has started his or her own business. But that basic definition barely scratches the surface. It does little to capture the true essence of what it means to be a risk-taker, innovator and individual willing to carve his or her own path in a world that doesn't always take kindly to people who fail to follow the status quo.
Are you itching to venture out on your own, but you wonder if you have what it takes to choose the road less traveled? Check out what these company founders and business leaders think makes a truly successful entrepreneur.
However, before we venture further defining what exactly is an “entrepreneur” and other aspects breaking it down and related concerns like “venture capital” and the proverbial “entrepreneurial ecosystem, let me direct you along the paths of getting quickluy up to speed, as I believe that is exactly what you need. To succeed, attain structure, stability, vision and ultimately wealth.
Getting into our Workshops:
I made this simple little instructional video so you clearly see how easy it is to assimilate this ecocenter and huge powerful platform.
OK now about being an entrepreneur!
"Entrepreneurship is all about embracing challenges. When you're building something from the ground up, you need to get into the weeds and problem solve. All the weed whacking often allows you to better hone in on a better big-picture strategy — why did this happen? How do I solve it? How do smarter people than me solve it? With a young company, when you experience a new challenge, it's usually a growing pain. So while it can be difficult to get through, it's for the best possible reason — your company is getting bigger!" – Jennie Ripps, CEO of Owl's Brew
"To me, entrepreneurship means being able to take action and having the courage to commit and persevere through all of the challenges and failures. It is a struggle that an entrepreneur is willing to battle. It is using past experiences and intelligence to make smart decisions. Entrepreneurs are able to transform their vision into a business. I believe this process is at the core of any true entrepreneur." – MJ Pedone, founder and CEO of Indra Public Relations
"Being a successful entrepreneur requires a great deal of resourcefulness, because as an entrepreneur, you often run into dead ends throughout the course of your career. You need to be able to bounce back from losses if you want to be successful. Know that there will be much more disappointment than progress when you first start off, and you need to have a short memory in order to put the past behind you quickly. It's imperative to stay optimistic when bad things happen." – Vip Sandhir, founder and CEO of HighGround
"Entrepreneurship is the ability to recognize the bigger picture, find where there's an opportunity to make someone's life better, design hypotheses around these opportunities, and continually test your assumptions. It's experimentation: Some experiments will work; many others will fail. It is not big exits, huge net worth or living a life of glamour. It's hard work and persistence to leave the world a better place once your time here is done." – Konrad Billetz, CEO of Frameri
"To me, entrepreneurship is completely dedicating yourself to creating something out of nothing. It's not simply taking a risk and hoping to realize big rewards. Creating something out of nothing also tends to present numerous challenges and roadblocks which seem insurmountable. I believe the great entrepreneurs, who I look up to, can help their team push through those roadblocks and find solutions." – David Greenberg, CEO of Updater
"Entrepreneurship is the mind-set that allows you to see opportunity everywhere. It could be a business idea, but it could also be seeing the possibilities in the people that can help you grow that business. This ability to see many options in every situation is critically important; there will be unending challenges that will test your hustle." – Preeti Sriratana, co-founder and CEO of Sweeten
"It is not about making a quick buck or deal. Successful entrepreneurs look past that 'quick buck' and instead look at the bigger picture to ensure that each action made is going toward the overall goal of the business or concept, whether or not that means getting something in return at that moment." – Allen Dikker, CEO of Potatopia
"Entrepreneurship is a lifestyle, in that being an entrepreneur is ingrained in one's identity. [It] is the culmination of a certain set of characteristics: determination, creativity, the capacity to risk, leadership and enthusiasm. I don't think you can be an entrepreneur without these qualities, and for me, that idea was ingrained in me very early on. An entrepreneur is part of the foundation of who I am, and who I strive to be." – Eric Lupton, president of Life Saver Pool Fence Systems
"Entrepreneurship is an unavoidable life calling pursued by those who are fortunate enough to take chances [and are] optimistic enough to believe in themselves, aware enough to see problems around them, stubborn enough to keep going, and bold enough to act again and again. Entrepreneurship is not something you do because you have an idea. It's about having the creativity to question, the strength to believe and the courage to move." – Jordan Fliegel, founder of CoachUp
"The journey of entrepreneurship is a lifestyle for many of us; we are wired this way and have no choice. We are driven by an innate need to create, build and grow. In order to be a successful entrepreneur, you must have an underlying positivity that enables you to see beyond the day-to-day challenges and roadblocks, always moving forward. You must also be a master plate juggler, able to switch between thinking, genres and activities moment to moment. Most importantly, you must not be afraid to fail, and you must be comfortable living with risk and unknowns — a state of mind which is certainly not for everyone!” – Justine Smith, founder and CEO of Kids Go Co.
"Being an entrepreneur is about giving everything you have when the going gets tough and never giving up. If you truly love and believe in what you're doing, then you must hang in there. Entrepreneurship is not knowing everything about your business. You must humble yourself and not work from your ego. Always be willing to grow, change and learn." – Jennifer MacDonald and Hayley Carr, founders of Zipit Bedding
"Entrepreneurship is seeing an opportunity and gathering the resources to turn a possibility into a reality. It represents the freedom to envision something new and to make it happen. It includes risk, but it also includes the reward of creating a legacy. Anti-entrepreneurship is satisfaction with the status quo, layers of controls and rules that hamper forward movement, and fear of failure." – Maia Haag, co-founder and president of I See Me!
"When it comes to being a successful entrepreneur, I think one must possess grit. The stakes tend to be high, the bumps in the road frequent. Remaining focused, regardless of the obstacles, is paramount. That said, being an entrepreneur means being in full control of your destiny. If that's important to you, then all of the challenges associated with striking out on one's own are but a small price to pay.” – Mike Malone, founder of Livestock Framing
Thomas Prendergast
Founder CEO
Markethive Inc.
P.S.
Reid Hoffman Tells Charlie Rose: "Every Individual Is Now An Entrepreneur."
Facebook, Twitter and Instagram all started life as revolutionary networks that brought existing real-world relationships online. Today, they are aging utilities, powering an outdated version of the social internet.
As social networks like Twitter, Facebook, and Instagram grow larger, they skew disproportionately toward supernodes—celebrity, meme and business accounts. An estimated 8% of of all accounts are fake spam bots. The average Instagram user posts 2.69 times a day, while the average user with over a million followers posts 8.58 times. 80 million photos are posted a day, but the average engagement rate per post is 1.1%. On Instagram, 50% of posts are generated by less than 3% of accounts. Facebook is a bit more stable because it has a cap on the number of friends you can have. Still, original sharing like posting photos to your Facebook feed or updating your status is decreasing 21% year over year.
Today it’s no longer enough to “connect the world.”
If you want to survive, don’t just build a network. You have to build a hive, and eventually a hivemind.
The Existential Crisis of the Network
Even though some social networks have grown to include billions of people, the ramp up in communication hasn’t increased proportionally. Even as you add friends or follow users, you can only talk to so many. Facebook users with over 500 friends only actively communicate with between 10 to 20 people. Similarly, Twitter users who have follower counts of over 1,000 share strong ties with fewer than 50 of their followers.
Myspace’s rapid user growth precipitated an equally rapid decline. It’s a cautionary lesson that growth in the network doesn’t equate to growth in business value. Networks can’t just be neutral. They have to be instrumental.
A network connects different people and gives them many points of contact for communication and transaction. A network is a neutral description of how connections between composite parts form a system. As networks mature, we’re starting to see something completely new emerge.
When it comes to car travel,
Google Maps gives us the distance between point A and point B, but Uber moves us from A to B faster.
When it comes to socializing,
Facebook gives us a way to connect, but Messenger helps us to communicate.
When it comes to shopping,
eBay allows us to buy anything online, but Amazon Prime gives us what we want when we want it.
The value of being connected isn’t in being networked. It’s having an opinion and taking action toward an outcome.
The Hive
A single honeybee weighs around 1/10th of a gram. Add up all the honeybees in a hive, and you get around five to eight pounds worth of honeybees — but you don’t get a hive. The beehive is an 80-pound mass that includes every individual bee, but is much more.
The hive is a smarter, evolved network that is bigger than the sum of its parts. The hive:
Increases the frequency of interactions between nodes and creates more touch-points within the hive. It’s how the hive learns and makes informed decisions in response to a changing external environment.
Decreases friction between nodes and creates a higher level of synchronicity between members of the hive. This produces stronger ties between individual members and allows the hive to act collectively.
Because of the increased frequency of interactions, a hive behaves more intelligently, and because of the decreased friction between nodes, a hive can do more than transfer data. It responds and evolves based on that data. The hive isn’t just more networked. It’s more densely populated with organic, living components.
Though not obvious, the hive is becoming central to the way we think, behave and interact. The best way to understand emergent human hives is to observe how hives operate in nature.
Increasing Frequency of Interactions: Ant Colonies Move as Liquids and Solids
An ant colony is so in sync that a mass of them can stick together to form solids or melt into fluids as a single body. By simply holding onto each other or letting go, the viscosity of a cluster of ants changes. They’re able to do so because of the high frequency of interaction between ants in a colony.
For ants, communication is survival. If you apply pressure to a ball of ants, the ants nearest to the top will begin to act as though they are dead, increasing the fluidity of the writhing mass of ants. The harder the ants are pressed, the more fluid they become to absorb the pressure. The more ants there are linked together, the more pressure they can collectively withstand.
What allows ants to adapt so quickly isn’t the content of a transmitted message, but the way one ant presses against another triggers a chain reaction through the entire cluster. It’s how ant clusters can form rafts to avoid drowning and build bridges out of their bodies to cross gaps.
The fluidity of ants allows them to thrive in almost any environment. They’ve colonized every continent except Antarctica, making up 15–25% of terrestrial animals on Earth.
Consumerization of the Enterprise: Mass Alignment in the Workplace
Tools like Google Apps for Work, Slack and Github are making us more like ant clusters. They increase the frequency of interaction within an organization. People can communicate and switch tasks faster, make smarter decisions based on data and use smarter tools that talk to one another.
Rather than being individuals sitting alone in cubicles, we’re like a cluster of ants crawling and moving around and on top of each other with shared tools that everyone can access.
The image above on the left shows how email communication patterns follow organizational hierarchies at an HP research lab. The image on the right shows the pattern of developers collaborating over chat. With a network model like email, you have to jump from one person to the next to get the information you need. In a hive, real-time communication occurs seamlessly between people.
The high frequency of interaction gets everyone on the same page and working in sync:
People to people interactions: With the hive, a higher frequency of interactions means that work can be assigned on an ad-hoc basis with a tool for real-time chat like Slack. People can switch jobs more rapidly based on what the hive needs. One study shows that the top 20% of developers were also the ones that chatted the most frequently.
People to data interactions: What was specialized knowledge accessible via technical interfaces is now common knowledge exposed through conversational interfaces. Think Lookerbot for analytics and internal company data.
Data to data interactions: The workplace hive gives us insight where we once only got reports. Tools that everyone in the company uses creates massive amounts of data, which helps people use tools more efficiently. This workflow data used to be valuable only as a system of record. Today, it produces actual business intelligence.
The net result is a vastly smarter organization aligned around shared goals. With more interaction between workers and tools, a business can transform from solid to fluid depending on the needs of the hive.
Decreasing Communication Friction: Bee Swarms Operate like Neural Nets
A swarm of bees on the move resembles the movement of neurons in the human brain. That’s how they’re able to colonize new nesting sites within hours of leaving their old one.
This doesn’t happen through a centralized intelligence where the queen bee shouts down orders. Instead, it’s through the low-level communication of scout bees that reduces friction for the entire hive and allows for rapid and collective decision-making.
A hive has around three days to find a new nest site before it dies. Finding the right home means exploring possible sites in a one-mile radius of the queen. The queen can’t go out and look at sites on her own, and doesn’t have the bandwidth to process every possible location that the scouts find and make a good decision quickly.
Instead, scout bees — who represent 3% of the entire hive — are responsible for choosing the new hive. When it’s time for the hive to move, around 50 scouts are sent out to look for a promising home. When a scout finds one she likes, she does a “waggle dance” to signal the location to the other scouts. Scouts check out a variety of sites and dance around the one they think will help the hive survive.
As soon as 30 or so scouts gather around a new nest site, the rest of the hive is already lifting off into the air.
The decision-making process of bees reduces friction for how a massive collection of individual parts can evaluate a variety of inputs quickly and intelligently. Ultimately, 30 bees decide the fate for 10,000.
Mobile Messaging: The Formation of WeChat’s Hive
While networks like Instagram and Twitter are beginning to wear thin, messaging apps like WeChat are frenetic hives of activity that build economic empowerment. Like honeybee scouts, messaging apps decrease the friction of centralized nodes in the 1:1 communication between individual nodes and allow for emergent behaviors.
WeChat began five years ago as a messaging service. Today, you can use it to pre-order dumplings from a street-vendor, call a taxi, read the news, and even buy a house.
With WeChat, we see the evolution of a consumer product through the three stages of want, need and utility to the hive. At each stage, WeChat focuses on reducing friction by providing infrastructure for users. On WeChat, all it takes is a critical mass of people adopting new behavior to turn it into a utility that benefits the whole hive.
Want — 2011: When WeChat launched, it let you send messages, voice clips, photos and that’s about it. Over the next year, as China moved from 2G to 3G, WeChat gave users the ability to make voice and video calls. It automatically compressed videos people uploaded to save cellular data. People wanted to use WeChat because it allowed you to easily — and cheaply — talk to other people.
Need — 2012: WeChat users in China were often reluctant to download standalone apps because of high data costs. The launch of “official accounts,” or chatbots, emerged within these constraints. People could read the news or check bank statements via text message to an official account. Their needs were met entirely within WeChat’s platform.
Utility — 2013: The addition of mobile payments and WeChat Wallet provided a new layer of utility for users and drove the wide scale adoption of commercial behavior onto the platform. One group of Chinese students built a fruit delivery business on WeChat because other fruit stands on campus were expensive, poor quality and inconvenient. In an interview, one student points out that “WeChat is a bit more agile [than Taobao]. Asmall entity can still have its own brand.”
As WeChat grows, new utilities emerge on the platform. Each increases the time users spend on WeChat’s platform thus reducing friction between users. The latest progression of this is the launch of Applets, which will allow developers to build full HTML5 apps on top of WeChat.
What drove WeChat’s growth wasn’t the launch of any one feature. It was the individual fruit vendors, taxi cabs, and mom-and-pop shops that WeChat made life easier for. In the long run, this might be the winning strategy.
In 2015, 12,000 new companies were born on platforms like WeChat every day. The hive isn’t created from access to new functionality. It’s how new functionality creates new economic opportunity.
The Transformation of the Network to the Hive
The increase in the frequency of interaction and decreased communication friction of the hive can be traced to a move toward synchronicity between people over history. Once, a story passed down verbally from father to son turned into myth after a thousand years. The invention of writing and the first spread of literacy allowed the transmission of the first written history.
As technology has advanced, the delay between the transfer of information has decreased. Paved roads allowed couriers to deliver messages, while cables wired along those roads enabled telegraphs and then radio broadcasts. Eventually, you got email, instant messaging, SMS, camera phones, all the way up to live video.
As information networks become distributed from giant data centers to cellular towers and the cloud, the amount of bandwidth available to the individual continues to rise. We’re no longer limited to a broadcast radio model, where one signal is received by many nodes. Today, we send and receive higher quantities of data at higher frequencies, through texts, photos and videos. We sync with each other instantaneously, and all the time.
This is what allows networks to converge into hives, from the individual to the organization.
Instrumentalizing the Social Network
The function of the social network is to connect people and to grow the size of the network. What originally came about through increasing connections is now focused on delivering a better, more immediate experience.
Facebook in 2012:
Our mission is to make the world more open and connected.
Facebook in 2016:
Our top priority is to build useful and engaging products that enable people to connect and share through mobile devices and personal computers.
In 2012, Snapchat described itself on its website as:
Snapchat is the fastest way to share a moment on iPhone — up to 10x faster than MMS!”
Today, the renamed Snap Inc.’s website reads:
We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate.
Facebook and Snap Inc. are both converging around how we communicate and share experience, and they’re doing it by building a family of brands.
From the beginning, Snapchat has built itself around the camera and user experience. As the company moved from 1:1 communications to a broader platform for sharing experiences, this has not changed.
Facebook’s efforts to mimic Snapchat’s ephemeral messagesas well as its initiatives on products like Instagram Stories and its move into virtual reality through the acquisition of Oculus Rift all demonstrate a move away from the network, and toward a moments-driven hive.
The original experience of Facebook was more connected, but also a lonely experience. You put one version of yourself online and lived another one in real life. The original Facebook showed a version of you that you wanted to see.
Rather than alienating people, Facebook and Snap Inc. today are moving toward a vision of the future around creating real, shared experiences that actually bring people together.
Google, Uber, Tesla and Autonomous Vehicles
The map is possibly the most literal rendering of the network. A map connects physical locations together, and shows you how to navigate from one point to another. The autonomous car is built on top of the map, but it’s instrumentalized around actually taking you between points.
Autonomous vehicles can be imagined because they’re built on top of the information networks of Google’s Maps and Streetview, projects that Google undertook to organize the world’s information.
At Tesla, they’re building autonomous electric vehicles on top of their network of vehicle sales, service centers and Supercharger stations. Self-driving Teslas have already collected 100 million miles of autonomous driving data and 780 million miles of human driving data from the sensors it builds into each vehicle.
Meanwhile, Uber is moving towards autonomous cars through the ride-sharing marketplace it has built. Through the Uber app, the company collects 100 million miles of driving data each day. In contrast, the average American only drives 15,000 miles a year.
Why are all these vastly different companies converging on the autonomous car? That’s because for these companies, it’s about platform and hive, not just about roads without drivers.
Google’s 10-K, 2016:
From the start, the company has always strived to do more, and to do important and meaningful things with the resources they have.
Uber’s blog, 2016:
The old Uber was black and white, somewhat distant and cold. This belied what Uber actually is — a transportation network, woven into the fabric of cities and how they move. To bring out this human side — the atoms — we’ve added color and patterns.
For Google, the search giant, it’s about putting information to work. It is leveraging its massive data sets, of roads, driver behavior, and physical objects, and continuously feeding data back to the system. Uber, meanwhile, has evolved from a white glove black car service into a transportation hive. Through logistics and cleaner, cheaper interfaces, Uber directs human actions more efficiently through algorithms. The autonomous car was the next logical step.
By allowing cars to get from A to B more predictably, autonomous cars will reduce the number of cars on the road, and the number of deaths in car accidents, and even the amount of money for insurance. The hive is what gives us a shot at collectively solving these seemingly impossible problems.
The Future is the Hivemind
A network’s value is traditionally tied to the idea of more—this is what’s known as a “network effect.” The more people and things there are networked, the more possible connections there are between nodes, and the more valuable the network grows.
And yet, the world we’re moving to will be defined by the idea of more with less. Global warming and drought mean fewer resources to work with. At the same time, population growth is beginning to stall across America and Europe, and with it the “free lunch” economic growth that comes with a rising population.
A hive is more than the sum of its parts. Through the hive, a network of drivers and riders also work as a turnkey resource that other services can be built on top of. For companies that operate as hives, sheer quantity matters less than it did for older generations of companies. By increasing interaction and decreasing friction between nodes, they accelerate growth through virtually unlimited, real-time access to data and people.
Hives colonize instinctively as they grow, which is why we’re seeing so many companies converge around the similar trends. But the sequence that they grow in matters. The next big companies will have to do more than just pick the right trends. They’ll have to nail the right timing by moving in sync with their composite parts.
They won’t just be hives. They’ll be hiveminds.
Markethive has already reached this hive mind level. Interesting that others are suspecting this phenomena and here we are! The original and first Market Network.
Bitcoin’s Big Problem: Transaction Delays Renew Blockchain Debate
Bitcoin has had quite a month, rising from $725 to a high of $911 today.
Experts Predict Bitcoin Hits 1 Million Next Year
Trump Picks Cryptocurrency and Blockchain
Mick Mulvaney
Bitcoin Can Rise to $2000 in January 2017
What is a DAO distributed autonomous orginization
Bitcoin: The True Democracy
Dear Clinton supporters: Recall wont matter
Blockchain opens 10 millionth bitcoin wallet after Brexit and Trump boost
How to Write an eBook (Blog) Quickly
I (we) are pursuing funding for Markethive. It is a long and winding road. In this quest, we have met very innovative amazing people. Case in point James Wilfong a partner owner of an upcoming crypto coin company called MyCryptoWorld has an amazing system that is to the Crypto Coin market as Markethive is to the Inbound Marketing world.
Markethive is a Market Network
The Hive is the New Network
