Australian Senate Serious About Digital Assets

On 27 August, I gave evidence before the Australian Senate’s Select Committee on Australia as a Technology and Financial Centre (transcript here). In concert, blockchain, digital assets and smart contracts can deliver guaranteed outcomes participants can live with, instead of perfected rights no one can enforce. These benefits best come – if at all –Continue reading “Australian Senate Serious About Digital Assets”

US Infrastructure Bill a Case Study In Hub-and-Spoke vs P2P

According to reports, the US government is proposing a law as part of its Infrastructure Bill that would expand the definition of a “broker” to include “any person who (for consideration) is responsible for and regularly provides any service effectuating transfers of digital assets.” Brokers Must Spy on Their Clients In the US, brokers areContinue reading “US Infrastructure Bill a Case Study In Hub-and-Spoke vs P2P”

Why We Chose XRP Ledger for Evernode

The way HotPocket plus its daemon, Sashimono, is designed, Evernode could be a stand-alone chain or “nailed” to any layer 1 chain with sufficient smart contract capabilities to issue tokens and function as a message board. However, we think Evernode could be best launched as a layer 2 solution composed via the XRP Ledger becauseContinue reading “Why We Chose XRP Ledger for Evernode”

Evernode: Layer 2 Smart Contracts for the XRP Ledger

Introducing Evernode Today we published our White Paper for Evernode, a project to bring “layer 2” smart contracts to the XRP Ledger. It combines our HotPocket protocol with the proposed Hooks amendment – small pieces of code that allow XRP Ledger Accounts to function as “lite smart contracts” – to create a global, permissionless, decentralisedContinue reading “Evernode: Layer 2 Smart Contracts for the XRP Ledger”

iXRPL White Paper

Today we published the White Paper that accompanies our iXRPL demo. iXRPL has the following components: The User Mobile App: The User uploads their identity documents and XRPL account information via the mobile app to get verified by iXRPL. The app also maintains the rolling encryption keys for the User’s personal documents. When the UserContinue reading “iXRPL White Paper”

Digital Assets Down Under: Is Your Blockchain a Managed Investment Scheme?

It can be difficult, bordering on impossible, for peer-to-peer blockchain projects to comply with laws drafted on the assumption of a hub-and-spoke world where middlemen exist that can be regulated and deputised police their clients. This post is going to explore one such example: managed investment schemes under Australian law, what Americans call investment contracts.Continue reading “Digital Assets Down Under: Is Your Blockchain a Managed Investment Scheme?”

Digital Assets Down Under: Making Australia A Destination Jurisdiction for Digital Asset Projects

Yesterday I filed my submission “Digital Assets Down Under. Making Australia a Destination Jurisdiction for Digital Asset and Cryptocurrency Projects, Investment, and Skills” with the Australian Senate Select Committee on Australia as a Technology and Financial Centre. Here are what I think are the inherent challenges involved in any nation being a “destination jurisdiction”.  Challenge 1: Blockchains (ideally)Continue reading “Digital Assets Down Under: Making Australia A Destination Jurisdiction for Digital Asset Projects”

iXRPL (Self-KYC dApp) Video Demo

Today we uploaded a video demo of our Self-KYC dApp, iXRPL. iXRPL is a proof-of-concept for an “on-chain”, GDPR-compliant, Self-KYC solution powered by HotPocket. It tokenises the fact an XRP Ledger Account is controlled by a verified identity, turning the verification into a reusable asset. Any participating business can then perform KYC activities on theirContinue reading “iXRPL (Self-KYC dApp) Video Demo”

Digital Cows: Tokenising Interests in Australian Cattle

Today we publish our Issues Paper on Digital Cows: Tokenising Interests in Australian Cattle. Properly functioning cattle markets are important to Australia as the world’s second largest exporter of beef. Physical cattle markets have costs and inefficiencies that digital, tokenised markets would probably avoid. Blockchain and smart contracts might be able to leverage Australia’s existingContinue reading “Digital Cows: Tokenising Interests in Australian Cattle”

Tokenising Digital Identity: Exploring the Promise of Blockchain-based KYC Solutions

Today we published our Issues Paper on Tokenising Digital Identity: Exploring the Promise of Blockchain-based KYC Solutions. Know Your Customer (KYC) is a very specific identity problem governed by specific laws, regulations, and standards. These rules cost financial institutions and customers in time, money, and inconvenience. Banks are at risk of prosecution. Individuals risk invasionContinue reading “Tokenising Digital Identity: Exploring the Promise of Blockchain-based KYC Solutions”