LINK BREADCRUMBS PART 2: AUSSIE BOOGALOO
I'm actually more qualified to talk about this than most anons.I'm employed with a cyber-techno machinations company, I do a lot of security analyst programming type work. Open source, decentralized, APIs, partnerships, you name it. We'd be one of the first companies in line for something like Chainlink, if the decentralized smart contract space had more value over traditional data exchanges. There's a catch though, an underlying flaw more deeply embedded in the bedrock of LINK than the very code itself. The flaw is with the concept, and it's this: Companies won't actually go through the hassle of trusting their data API's through crypto.
Now I can already hear your keyboards going frantic, but hear me out. Jow Forums hates banks, and traditional data providers. But actual companies, businesses, and investors do not. There's an old saying you might have heard of: "If it ain't broke, don't fix it!". The idea that any of our bosses would give us the go ahead if we approached them to put our companies valuable data in a smart contract on a cryptocurrency called Chainlink, that they've never heard of, we'd be laughed out at best and fired on the spot at worst. We already have API data buyers and providers we trust.
'But Chainlink is trustless!' I hear you cry, but is that really a good thing? Just listen to the sound of it. Businesses don't want to spend millions of dollars on something that is trustLESS, they want something trustFUL. 'But the reputation system!', doesn't that defeat the whole point of your coin? If companies only trust nodes with high reputation, what's the difference between trusting banks and data providers that already have reputation, but in real life not on a computer screen.
The fact is, LINK is going to share the same fate as ETH will. A lot of 'real world application' hype, with a lot of 'crypto world application' reality. Only, this billion supply coin isn't going to come close to the $1k that Etherum hit. Happy gambling though anons.
>The legal profession is helping to create a blockchain to deliver "contracts on steroids" by turning paper-based legal agreements into computer code to transform them into proactive risk management tools.
You guys always rustle my jimmies, I dont want to be deluded and crazy.
From that, page 6
>"ASX will replace CHESS with a post-trade solution that provides users with more efficient clearing, settlement
and other post-trade services through improved record keeping, reduced reconciliation, more timely
transactions, and better quality data.
The new system incorporates a permissioned distributed ledger that will provide benefits for users.
However, ASX recognises that users will require flexibility as to how they connect to the new system. Users
may choose to connect and transact by sending and receiving messages in a similar way as today or they
may choose to take a DLT node and interact directly.
The DAML Software Development Kit (DAML SDK) being offered by DA will enable stakeholders to develop
DAML based applications that integrate directly with a DLT node. This will allow them to leverage data and
services they are permissioned to access and facilitate real time and deeper integration into their existing
processes.
For those using messaged based interaction, ASX has previously announced its intention to replace the
proprietary CHESS message protocol with the global standard of ISO 20022. This will streamline the existing
suite of messages, facilitate more efficient processing and provide a richer data set.
All permissioned users will also be able to request and access data they are entitled to through a modern,
secure Application Programming Interface (API).
All users, regardless of their connection choice, will be subjected to an on-boarding process governed and
managed by ASX.
The new technology, accompanied by a commitment to use global message standards and APIs, will
facilitate non-discriminatory access to market operators (including non-ASX affiliated operators) and/or
other licensed clearing and settlement facilities."
>"6. Digital Asset (DA) Platform and Node Access
As previously outlined, users have the option to maintain their existing systems by connecting to the new
system with standard XML ISO 20022 messaging, and utilising on-demand access to data. Alternatively they
may choose to perform a deeper integration by taking a DLT node and utilising the Digital Asset Modelling
Language26 (DAML) to develop integration applications, and bypass XML messaging entirely.
The DA platform combines DLT and the DAML to allow the mutualisation of workflow processing between
ASX and users. The users who are operating on ASX’s DA platform are able to share a single source of truth
which provides continuous data integrity, increased transparency where required, and the opportunity for
innovation.
The new system consists of a post-trade application, written in DAML, which interfaces with the DA
platform. The DA platform processes the business logic for the cash equities market and sends this to the
distributed ledger.
Users will have the opportunity to interact directly with the new system via a node. In addition, DA will offer
its DAML Software Development Kit (DAML SDK) to enable users and 3rd parties to develop DAML based
applications that integrate directly to a node. This will allow a real time and deeper integration into their
existing processes and to create new applications that leverage the data and services they are permissioned
to access.
The DAML SDK was released via a developer program in a Beta version on 19 April 2018. For organisations
interested in downloading the DAML SDK Developer Preview, registrations are accepted at www.daml.com. "
i.warosu.org
Goddamnit you all are lazy today
So Australia is really the key to all this, huh
Whats the name of the thread friendo?