Digital Currency DNotes to Present at NASDAQ in New York – Builds on Bitcoin’s Shortfalls

Bitcoin Magazine
Digital Currency DNotes to Present at NASDAQ in New York – Builds on Bitcoin’s Shortfalls
DNotes-Employee-Screenshot (1)

Bitcoin Press Release: Bitcoin alternative DNotes’ co-founder Alan Yong will be joining the “Innovation Spotlight: Digital Currencies” panel at Silicon Dragon, to be held at the NASDAQ on June 22nd, 2015. DNotes is a second generation digital currency focused on long-term adoption, scalability, and solving real-world issues.

DNotes co-founder Alan Yong is pleased to be joining the Innovation Spotlight: Digital Currencies panel at this year’s Silicon Dragon event, to be held in New York at the NASDAQ on June 22nd. Alan Yong is an experienced tech entrepreneur having founded personal computer company Dauphin Technology in 1989. Francesco Rulli, President of bitLanders and bitCharities, will also be part of the panel, along with Sarah Martin, VP at Digital Currency Council. The panel will be moderated by Porter Bibb, Managing Partner at MediaTech Capital Partners.

Stable Bitcoin alternative DNotes is focused on long-term adoption and solving real-world issues for the unbanked and people worldwide from all walks of life. DNotes’ ecosystem includes the world’s first Cryptocurrency Investment Savings Plans (CRISPs) for retirees, employees, students, and children worldwide. CRISPs include a 100% deposit guarantee and bonus interest for retirement CRISPs participants. DNotes also funds cryptocurrency neutral site CryptoMoms in order to aid women’s participation in cryptocurrencies.

Bitcoin has correctly been credited as the most disruptive technology in the monetary system since the debit card. However, Bitcoin has been hit with countless negative headlines and has arguably settled with a very limited purpose as a speculative trading vehicle. Some believe Bitcoin is failing to meet the full function of money and gain mass acceptance as it is too costly to acquire, and too volatile as a store of value and medium of exchange.

But Bitcoin’s ground-breaking technology laid the foundation for improved and more advanced cryptocurrencies that have a real chance to make it into the mainstream and revolutionize the monetary system just as the debit card once did. The main innovation stemming from Bitcoin is trustless transactions, meaning transactions are fully decentralized and do not rely on a central bank or government. Bitcoin also introduced the primary innovation of blockchain technology; a public ledger where all Bitcoin transactions are recorded indefinitely together with all Bitcoin ‘blocks’ that have been mined to secure the network.

DNotes is the second generation Bitcoin alternative digital currency taking full advantage of the pioneer Bitcoin’s innovation while avoiding the pitfalls. It was clear early that DNotes strives to maintain reliable long-term appreciation building stability, trust, and currency value in line with fundamental value.

DNotes is a currency with a purpose with global initiatives to help solve global problems. There are currently 2.5 billion people worldwide that do not have a bank account, insurance, or are under-served by banks and financial service companies. DNotes is beneficial for the unbanked as it does not require a stable government, includes inexpensive transactions, minimal exchange fees, and near zero remittance costs for sending money to any country. No ID is required for people who do not have one or do not trust their governments. DNotes has the potential to change the wealth of nations and their citizens by enabling anyone, anywhere to tap into the emerging wealth creation opportunities provided by digital currency.

Bitcoin will most likely go down in history as one of the greatest technology revolutions in history. Bitcoin as a currency is an integral part of the technology pack, powered by the Blockchain as the most innovative protocol of decentralized distributed consensus ledger ever conceived. DNotes, designed from the ground up with a purpose as the stable trustworthy digital currency for everyone, is destined to possibly become the global Digital Currency of the future with lasting value. With an ecosystem that currently consists of DNotesVault, Cryptocurrency Investment Saving Plans and CryptoMoms, DNotes is the currency with the highest potential for mass global acceptance. The DNotes ecosystem consists of highly scalable buildings block to expand rapidly on a global scale at the most opportune time.

About Alan Yong:

DNotes Co-Founder Alan Yong is a well -regarded visionary since the early days of personal computers. He founded Dauphin Technology in 1989, which had contracts with the US Department of Defense, and is best known for creating the Dauphin DTR, the most powerful window-based miniature computer that competed head-on with Apple’s Newton computer that became the Apple Iphone as we know it today. In 2007, Yong co-founded Smokeys Daylily Gardens, one of the largest daylily growers in the world. Smokeys Daylily Gardens is the first merchant to accept DNotes as payment for its products.

About DNotesVault and CRISP:

DNotes is a currency for everyone – unborn to most senior, rich or poor. Over the last year DNotes successfully launched the world’s first Cryptocurrency Investment Savings Plans (CRISPs) for employees, children, students, and retirement. CRISPs provide a 100% guarantee matching fund verifiable on the transparent blockchain and embedded in infrastructure. For the first time, DNotes’ CRISPs and DNotesVault allow anyone worldwide to take advantage of the unprecedented opportunities provided by digital currency.

About CryptoMoms:

In 2014 DNotes founded, an online community to encourage and assist women to participate in the emerging world of cryptocurrencies overwhelmingly dominated by men. Surveys from 2014 show that 95% of cryptocurrency participants are male even though women account for 50% of the buying power. CryptoMoms is a platform fully equipped with a forum, chat, information pages and a full guide on how to store, buy, and sell digital money. It is clear that in order for digital currencies to become truly mainstream the gender imbalance must be corrected.

About Silicon Dragon:

Silicon Dragon is a news, events, and research group covering innovation and investment hubs in the Silicon Valleys of the world, and provides insights to strategize and profit in the world’s top tech innovation centers. The next Silicon Dragon event will be held on the 22nd of June at the NASDAQ in New York where Alan Yong will be attending as a panelist on the Innovation Spotlight: Digital Currencies Panel.

For more information please visit:

To trade DNotes with Bitcoin please go to:

To learn more about DNotesVault and CRISPs please go to:

Follow DNotes on twitter:

Media contact:

Name: Alan Yong



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BitShares 2.0 Plans to Adapt New SmartChains Cryptotechnology

BitShares, a blockchain-based financial smart contract platform has announced the upgrade of BitShares 2.0. The platform is now built on a system known as “Graphene toolkit,” which is developed by an independent blockchain development company founded by the core developers of BitShares, called Cryptonomex Inc.

With the implementation of a new crypto-technology called SmartChains, the soon-to-be released BitShares 2.0 reportedly is set to have the “Speed of the NASDAQ,” with a new “high-performance protocol and engine, capable of handling over 100,000 transactions per second.”

To test its efficiency and capability of the technology, the BitShares team had set up a pilot blockchain with 200,000 accounts, and issued an asset to every account, which involved around a million operations/transactions. After the creation of the blockchain, the BitShares team timed the duration of reindexing the blockchain without signature verification.

According to the press release of BitShares, “A single core of a 2.6 Ghz i7 is able to validate 10,000 signatures per second. Today’s high-end servers with 36 cores (72 with hyper-threading) could easily validate 100,000 transactions per second.”

Criticisms and Improvements

Previously, BitShares received criticisms from the cryptocurrency community and blockchain developers that the slow and inefficient performance of the platform negatively affects user experience, and that the model object fails to engage real-world usage.

As a response to the suggestions, the core developers of BitShares have designed a high performance blockchain technology specifically for cryptocurrencies and smart contract transfers. According to its developers, the newly built platform is designed to confirm transactions in just one second, allowing the system to process more transactions per second than MasterCard and VISA combined.

During the beta operation of BitShares, users also indicated two major problems with the previous version of BitShares:

Nonstandard market matching algorithm discourages traders
Insufficient incentives for new stakeholders to help grow the network.

Incentives and Rewards

To better incentivize and reward its users, BitShares has also introduced a referral rewards program, built directly into the software. Recognizing that the value of the BitShares network is derived from its user base, the platform is set to reward its users that encourage others to join the network in an automated way.

BitShares 2.0 is set to enter a public testing period for community feedback upon its completion, which will continue until everyone in the community is satisfied with the platform.

BitShares core development team is also planning to outsource some of the platform’s operations to Cryptonomex Inc., to create a “more robust, sustainable, and fair” smart contracts platform.

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Blockchain Workshop to Educate Financial Industry About Digital Currency

Today’s Blockchain Workshop will attempt to bring financial industry executives, regulators and digital currency entrepreneurs together to learn about the impact and potential of decentralized ledger technologies.

Blockchain Workshop runs June 15-16 at the Millennium Hotel in London and hosts a series of talks covering emerging blockchain payment networks, regulatory challenges, financial inclusion and more. The event is organized by Constance Choi, founder of blockchain law firm Seven Advisory, as well as two Harvard law professionals: Law Lab Co-director John Clippinger and Berkman Center for Internet & Society Research Fellow Primavera De Filippi.

“We believe that the rapid emergence of blockchain technologies presents revolutionary opportunities and challenges to the future of modern society as we face the 21st century,” Choi told Bitcoin Magazine. “The fundamental lack of understanding of these complex technologies has impaired exploration, innovation and deployment. We started this initiative to address blockchain policy issues through a multi-stakeholder approach.”

Demystifying the Blockchain

The conference’s location in London is not by accident. The city recently has been recognized as the world’s leading hub for financial technology and Bitcoin startups. The region’s financial focus is represented in the event’s partners and sponsors. Deutsche Bundesbank, the University of Oxford and the European Commission’s Startup Europe are some of the event’s partners, and sponsors include Barclays Bank, international law firm Bryan Cave and Swedish Bitcoin exchange Ecurex.

The conference will kick off with an introduction to digital currency and blockchains, covering Ripple, Ethereum, Eris, Bitcoin and others. Then talks get into the nitty gritty of the economics behind these emerging platforms with a keynote by Houman Shadab of New York Law School.

The event then transitions into one of the most talked about finance topics of the decade: financial inclusion. Yussar A.F. Abar, former governor of Central Bank of Somalia and vice president at Citigroup, will lead a talk about how blockchain technology could help those without bank accounts in Africa and beyond.

The next day starts with a keynote by IBM database programmer and Ethereum developer, Henning Diedrich, who will show how blockchains could be used to secure and facilitate transactions between the Internet of Things. The event will then go on to explore who and what will be regulated under new decentralized schemes for corporations and financial institutions. BlockchainWorkshop will end by going over existing or potential use cases, such as supply-chain payments, crowdfunding and monetization of art.

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Santander: Banks and Innovators Should Join Forces to Create Fintech 2.0

Santander InnoVentures, Oliver Wyman and Anthemis Group have today published “The Fintech 2.0 Paper: Rebooting financial services.” The paper is presented as “a call to action to banks, financial institutions and financial technology (fintech) businesses to work together to undertake a fundamental ‘reboot’ of the core processes, systems and infrastructure of the banking industry.”

“The research underpinning the paper has identified several markets with huge potential,” said Emmet Rennick, head of innovation at Oliver Wyman. “In these areas banks can realize efficiencies, customers benefit from better services and [fintech startups] can grow their businesses.” According to Andrew Veitch, Director of Anthemis Group, “the greatest opportunity in the industry lies at the meeting point of large financial institutions and young, ambitious startups.”

According to the paper, fintech 2.0 will offer substantial opportunities, such as streamlining the processes surrounding the creation of $25 trillion of new mortgages issued annually across the globe. Elsewhere, an estimated $4 billion is lost through inefficiency in global collateral management within the asset leasing sector. These are two of several opportunities identified in the paper, which also outlines opportunities for banking innovation based on the “Internet of Things” (IoT), smart data, distributed ledgers and frictionless processes beyond payments and consumer credit.

A problem identified by the paper is that financial technology developers and startups (fintechs) are still operating only at the edges of banking. To help engineer more fundamental improvements to the banking industry, they must now be invited inside, to contribute to reinventing core infrastructure and processes in the financial system. According to the paper, such reinvention can only be brought forward by a collaborative endeavor of banks and fintechs working together as partners.

“Funds alone are not enough,” said Mariano Belinky, managing principal of Santander InnoVentures. “To move to the next phase of evolution in financial services, banks need to invite fintechs to work within our industry, even inside our own businesses. Santander is committed to achieving innovation by partnering with fintech startups. That means investing in funding but also giving access to our expertise, as well as utilizing our client base and our own innovation initiatives.”

Distributed ledger technology could save banks $15 billion-$20 billion per annum by 2022

In contrast to today’s transaction networks, distributed ledgers eliminate the need for central authorities to certify ownership and clear transactions. Distributed ledgers can be open, verifying anonymous actors in the network, or they can be closed and require actors in the network to be already identified – which seems to be the approach currently favored by most banks and mainstream financial institutions.

The paper acknowledges that Bitcoin represents the best existing example of distributed ledger, and goes on to identify important advantages of distributed ledgers: near-realtime and irrevocable settlements, robust P2P transactions verified by tamper-proof networks without central management cost overheads, and permanent records of all transactions that can be monitored and audited by all participants. According to the paper, it’s only a matter of time before distributed ledgers become a trusted alternative for managing large volumes of transactions.

The paper notes that international payments remain slow and expensive, and significant savings can be made by banks and end-users bypassing existing international payment networks, and suggests that distributed ledger technology could reduce banks’ infrastructure costs attributable to cross-border payments, securities trading and regulatory compliance by between $15 billion and $20 billion per annum by 2022.

The message to banks and to fintechs is the same, concludes the paper: “If you can’t beat them, you should join them to achieve Fintech 2.0.”


Photo by Peter Clayton / CC BY-SA 2.0

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Augur Launches Alpha Version of Prediction Market Platform

Augur, a decentralized platform allowing individuals to create prediction markets on a vast array of topics, announced today that it was launching its alpha test.

“Traditionally, prediction markets have fallen short due to their need for volume in order to be valuable forecasting tools,” explained Jeremy Gardner, the Director of Operations at Augur. “Having a global, unstoppable, blockchain-based prediction markets platform means anyone in the world with internet can connect to Augur.”

However, Augur is not, itself, a prediction market. Rather, it is open-source code for a prediction markets platform. In essence, the team doesn’t actually operate the software nor does the team own it.

One of the concerns for prediction markets is that they will come under assault from the Commodities Future Trading Commission, which is very strict about new markets being launched. Other prediction markets, such as Intrade, have been forced to ban United States users from the site. Gardner doesn’t believe this will be an issue.

“We’re just writing open-source code for a [prediction market] platform. That is constitutionally protected activity,” he explained. “In addition to speaking to a former CFTC Commissioner, my lawyer and myself have spoken to one of the CFTC’s top prosecutors along with a couple of the great guys at Coin Center. What we’ll likely see is the CFTC going after market-makers like the RIAA went after torrent uploaders, not after Bram Cohen and BitTorrent.”

How Augur Works

The platform works by allowing anyone to download the client where they are then able to create a market. A market could be a scenario such as: “Will aliens come to Earth tomorrow?” The user would then set the deadline for the outcome as well as determine what the trading fees are for that specific market.

People would then bet on the likelihood that aliens were going to actually come to Earth tomorrow. In the event that no aliens came, the vast majority that likely bet against it happening would get their reward. However, if the majority of people bet that aliens wouldn’t come and then they actually did, the group that bet that they would come could wind up making a significant amount of money depending on how big the market was.

Users are able to make bets with cryptocurrencies such as bitcoin or ether. When the deadline for the outcome has come and gone, those that participate in the upcoming crowdsale will determine the outcome of the bet. These people who participated in the crowdsale will own a token referred to as REP. This token allows the holders to act as “judges” of the outcome.

In the above example, if aliens did, in fact, come to Earth, those with REP would say yes and the rewards would be allocated accordingly. The trading fees, which the market maker sets up, would then be split evenly between the market maker and the reputation users.


In an effort to raise funds to continue working on the platform, the team has deployed a live-action model for crowdfunding. All told, there will be 11 million REP software licenses, which are what allow for the completion of all markets. The founders will receive 16 percent and the Forecast Foundation will receive 4 percent. The other 80 percent will be sold to people that want to be reputation users.

In the live-action model, the amount of licenses a user gets is directly contingent on the amount of money donated in comparison to the total amount donated. If there are 8,800,000 total pieces (80 percent of the total 11,000,000 REP) and someone donates $10, they would have all 8,800,000 licenses. However, if someone else came along and also donated $10, now both parties have 4,400,000 licenses.

The idea here is that a user gets a percentage of the licenses directly correlated to the percentage that the user’s donation was in comparison to the total pot.

To encourage early buying of the licenses, Augur will give bonuses to people at the start. The schedule of the event and the bonuses are:

July 1-5: 10%
July 6-15: 7%
July 16-31: 4%
August 1-15: 0%

Users can participate with cryptocurrencies through or by purchasing bitcoin from exchanges/broker-dealers.

The Future of Augur

 This open-source software is completely free for users. However, Gardner revealed that the plan is to create a for-profit product similar to the model that OpenBazaar recently announced.

“We will create a search website with for-profit [expectations],” Gardner said. “There’s also a huge amount of investor interest. Correspondingly, we’ll be raising a round for a for-profit sometime in the fall.”

For now, though, users are allowed to download the Alpha tool and start experimenting with creating markets.

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