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Blog URL: https://xrpcommunity.blog/ten-minute-xrp-news-recap/ So you need a ten-minute XRP news recap? I've got you covered in today's latest blog! 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐂𝐫𝐲𝐩𝐭𝐨 𝐍𝐞𝐰𝐬: Bakkt releases more information about its go-live. 𝐑𝐢𝐩𝐩𝐥𝐞 𝐍𝐞𝐰𝐬: Xpring invests in Agoric, a smart contracts company. 𝐗𝐑𝐏 𝐍𝐞𝐰𝐬: Boerse Stuttgart, a German exchange, approves XRP-related ETNs; and New York approves Coinbase's trading of XRP. I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread

Not new(s), but still a brilliant yet simple idea, IMO, that I just wanted to reshare and see if anyone knows of any progress on, or implementations of, the BitMint concept. Essentially it's a "digital claim check" on dollars (or any cash/asset). But the money can be tethered or "fused with" contracts inside the actual units, unlike say bitcoins that only represent generic accounting units. So you can do some very clever, game-changing things with these conditions attached, e.g. loyalty schemes, time-sensitive money, fraud tracking, disaster recovery money (@Haydentiff) , etc. Or in Gideon's words, "No one can sever the connection between the money and its disposition." Check it out:

Hi everyone. I would like to ask if anyone has any facts to the current status for Codius in regard to the huge market for derivatives? I remember watching a video where this was portrayed as a very promising usecase. Who if anybody is working on this? I came across this company: https://marketprotocol.io/ but it´s working on on the Ethereum blockchain.

The following video basically shows the DAO hack contract which was written in Solidity being applied to both the Ethereum and the Cardano virtual machines, the latter being in testnet phase known as IELE. I'm not a coder - I just find this stuff interesting:

In my latest blog, find out why strategic thinking leads us directly to XRP! Does XRP compare to Bitcoin or Ethereum when crypto investors are making their portfolio choices? I don't think so. With the latest developments from Ripple & Coil, and xRapid's status as the only digital asset with a comprehensive liquidity solution for financial institutions, it's tough to find much upside in the competition. I hope you enjoy the read & please leave any feedback below. Also, feel free to share my blog with a friend or on any other platform - and of course thank you for doing so! Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread

I have to take some responsibility for the lack of input into this Codius sub so I wanted to apologise for that. I've spent weeks trying to work out how I can wind back my day job to focus on these issues. For now, it will be a slow grind. Malta can't come soon enough. Meantime, I thought it might be interesting to give everyone a flavour of topics I'm working through because I believe these will become defining themes in this field. They include: What is a "contract" for the purposes of smart contracts? I already know the answer to this intuitively from my work (and I suppose most of you do as well) but it's been interesting to dissect it for the purposes here. I've had to re-think many assumptions. That has been fun. Are smart "contracts" actual contracts in the legal sense? Contract law has developed over hundreds of years and software developers would not be aware of all of that history. It would help to know what a contract is before we attempt to make it "smart". There's a requirement for smart "contracts" to have a dual nature reflected in a human-readable form setting out the terms (enforceable at law) and the object code representation of those terms (enforceable in code). Anyone who has investigated the problems of translation (poetry, literature etc) would instantly see the issues with that.There is a tension here because the question of precedence is important for the courts. How should smart "contracts" handle typical suspension/termination events that would otherwise bring a contract to an end before its natural conclusion? This requires a bridge between dry and wet code. Some have referred to "oracles" playing this role but that comes with a requirement for trust. How do we protect a party's rights with respect to contracts that are void or voidable? By what means can we interpret and read down/modify smart contracts to align with public policy considerations and local law? Enforceability There is a rather strange obsession with enforceability, as if the ability to enforce a binding agreement through immutable code is the be-all and end-all. Not surprisingly, this obsession has resulted in large numbers of irreversible frauds, hijackings, thefts and ponzi schemes in Solidity. There is a blind spot for many developers here because the research in the computer science community hasn't joined the dots back to the nature of these so-called "contracts". There simply isn't enough cross-curricular work occurring. Immutability of Code The immutable nature of smart "contracts" and their inability to deal with ex post developments and shading is a major challenge that cannot be solved by software alone. As a corollary of the above point, there is an inherent inefficiency associated with "complete" compared to "incomplete" contracts (I'm relying here on the work of Nobel prize winners Oliver Hart and Bengt Holmström). Contracts have traditionally represented a set of ex ante reference points to be satisfied ex post. However code is based on producing deterministic outcomes hard-baked onto the imprecise ex ante reference points which doesn't provide sufficient flexibility to optimise contract outcomes. This inefficiency is locked into the smart "contract" from day 1 which goes to the heart of the smart contract pitch. That problem can be solved and needs to be solved. Code of Law, Code as Law There is a troubling theme through much of the literature that Code is Law which to my mind has a tyrannical overtone. I'm particularly interested in the paradox that we had a number of Libertarian theoreticians who have protected the tyrannical forces at play in every contract but transferred this power from the State to the individual contracting party, embodied in the smart "contract" code. That shift of power is huge and has not been appreciated by those working in this field. All contracts have a latent violence that is sanctioned by the State if one attempts to breach the contract terms. The State has traditionally had a monopoly on this violence (interlocutory orders, orders for damages, forcible removal of assets and savings, bankruptcy, criminal sanctions etc). There is also the State sanctioned violence which is symbolic, psychological, sociological or just the threatening backdrop against which good contracting behaviour is encouraged. All of this is now subsumed into code and the IoT/IoV. We need to think through what this means for all of us. The Regulatory Question There is a lack of judicial and regulatory support for this developing intersection of jurisprudence and technology. Early days obviously but we are seeing for the first time in history technology not simply supporting the operation of the law but supplanting it entirely. What does a regulatory framework look like so that the benefits of smart "contracts" can be realised? The regulators are taking a wait-see approach at this stage so there's a huge opportunity for meaningful dialogue and input here. What does the future look like? I want to present my own view on the necessary pre-conditions for a successful ecosystem of smart contracts. This is a huge topic but I've started coming around to the conclusion that it requires a form of "judicial" oversight (whether through AI, data analytics or similar) that connects into the ledger and gives contracting parties some element of oversight during the operation of the contract. As a minimum, the system has to allow for the full range of contract principles, remedies and defences as well as protect against malfeasance. The literature I had hoped to summarise for everyone the huge volume of academic research in this area (particularly in regards to The DAO and Solidity thefts/ponzi schemes that continue today) because it is illustrative and deeply important for future development in this field. This research demonstrates the depth of misunderstanding that has had drastic consequences to date and could even kill this idea stone-cold if mishandled. Yes, it's dark, knotty stuff. Anyone got a quick meme I could use?

Somewhere in this forum I was having a discussion about how Codius could be used. I know it was with @Chewiecoin and I used the example of a purchase contract for real estate being fulfilled using the Codius platform to create the terms of the smart contract and fulfillment of that contract. This got me to thinking about other possible avenues for Codius to be used. Looking at the www.codius.org website they say that Codius is: "Codius makes it easy to develop applications that are: - secure and distributed - modular, forkable, and constantly improving - integrated with web technologies - independent of their developers These are smart programs. Smart programs can encode the logic of agreements or “smart contracts”, or their functionality can extend far beyond the realm of contracts. With Codius, smart programs can hold assets of their own on any or multiple cryptography-based ledgers, such as Bitcoin and Ripple." I was sitting at home today streaming a moving with my family when an idea came to me: what about Codius being used in the movie and music business? According to who you speak with, pirating of IP in these two industries is a huge issue...to the tune of billions of dollars. Codius could be used as the purchase and authentication platform so that these IPs can be protected from pirates. Say you want to distribute a movie (or a song...each would the same). You could encode on the digital copy of the movie being sent to the theaters and on the DVDs a "contract" which can only be executed via the ledger. The theater would be issued a "key" which would allow them to show the movie. Without that key, the movie could not be watched, even if the movie file was pirated. Every time the movie was watched using this key it would be recorded, giving the studio a record of showings and, thus, an ability to audit show times versus ticket sales. Without the key, though, the movie could not be downloaded or pirated and each key can be traced back to a specific theater. (Replace theater in this case to music app/account for song files and you get the same idea). For DVDs the feature would be the same except that only the key would be encoded on the disc. Put the DVD into your "player" (which is actually a streamer), it reads the key, finds the apporpirate contract on the Ledger, and allows you to watch your movie. Once the key was executed it could not be executed again by copying it to another disc. Or, if you remember many years ago there was a new product that allowed 1 time viewing, or "timed viewing" of DVD's. It was a "degrading" DVD that "broke down" over time only allowing so many views of the movie. Using Codius, studios could use this technology for the likes of RedBox. Instead of printing the movie on the DVD, a special key would be encoded allowing your DVD player to effectively stream the movie from its secure site. This key could be a one time use key, thus removing the necessity to return a DVD back to RedBox...just throw the disc away. The ability to assign contract terms using Codius could be limitless...my ideas about movies and music are, I'm sure, peanuts compared to what Codius could be used for. So, what are your ideas?

I have been wondering recently about the execution of smart contracts in the exchange platforms like bitstamp, or kraken for trading purposes. I know that people use bots to facilitate day trading, but is it also possible to set smart contracts or some kind of script based on a certain algorithm for the execution of trade order. ?

https://xrphodor.wordpress.com/2017/07/13/xrp-and-hyperledger-to-compete-with-ethereum-for-smart-contracts/ Latest blog entry; I talk about how Ethereum is facing increasing competition, and how both hyperledger and XRP are poised to take sizable market share from Ethereum if my analysis is correct. Feel free to leave your comments positive or negative here, and also feel free to share over other media as you can! Reddit: https://www.reddit.com/r/Ripple/comments/6n4rxt/xrp_and_hyperledger_to_compete_with_ethereum_for/ Twitter: https://twitter.com/Hodor7777/status/885616036392947712

Thx to The DAO attack, there is new competitor to Ethereum that's NXT's Ardor “With the ability to create customizable and easily deployed child chains, combined with Assets that can be traded system-wide, Ardor offers great value to the growing industry.” http://www.forbes.com/sites/rogeraitken/2016/06/21/nxt-crypto-blockchain-team-prepares-ardor-scalable-child-chain-platform/#70f77ca4349b

http://www.coindesk.com/turing-complete-smart-contracts/ There are Interesting points in the article and cost/benefit analysis will be key to the success of any distributed solution. Detailed comparisons with centralized equivalents should be a requirement for any idea or venture in the distributed ledger field. Today, the cost to transact in blockchain-based ledgers is not perceived because these systems receive a constant inflow of money (caused by the growth in the demand for native coins), which pays for the seigniorage incentives that buys security to the network. Once the demand for the coins stabilize, the real cost of a transaction will be pushed to the system's users.