Tag Archives: fintech

Interview With Lewis Just of The Eco coin Project

ECO coin logo

ECO coin To economically reward environmental action

BitcoinDood: Thanks so much for taking the time to respond to this interview. Could you please tell the readers a little about who you are and your relationship to the ECO coin project?

Lewis Just: My name is Lewis Just and I am the project leader of the ECO coin, which is an initiative of Next Nature. We are a think and design organization based in Amsterdam that stems from a need to explore how technology and nature come together to create our future environment, our Next Nature.

BD:  ECO coin will be a bit different than other cryptocurrencies out there. From what I understand, its main purpose is to help as an incentive based token, to reward individuals for acts of eco freindly actions. The PDF you sent me uses the phrase, “To economically reward environmental action”. Can you expound on this a little more and tell us how a cryptocurrency can be utilized for this purpose?

LJ: Absolutely. When we look at our current economic system is seems that we often reward actions that our terrible for our ecology in order to gain profits, grow business and help a debt-based economy survive. And yet we do very little to truly understand or protect the value of our shared ecology. It seems strange that businesses can make money from cutting down the forest and turning it into a raw material, but citizens are not paid to plant the forest.

Although there are some initiatives (ecosystem services, carbon trading etc.) that try and combat this growing issue they are often top down solutions that rely on bureaucracy and are there to limit the damages done. The ECO coin by contrast is a currency that positively rewards citizens who are actively contributing to a more sustainable world. It is a bottom up approach that we are designing to help catalyze our economy and society to transition to a more ecological one.

We believe that by utilizing blockchain technologies we can make the ECO coin a project that is not owned by one but many. Having the ECO coin as a cryptocurrency also means that the way in which it is created does not need to be the same as the way in which fiat money is created, through the creation of debt. Carrying out sustainably good actions can create it.

BD: You’re planning on partnering with some pretty big names with the likes of Deloitte and Bitonic. Can you talk a little about these organizations and how they will help the advancement of ECO coin?

LJ: Yes, the ECO coin has been an idea of Next Nature for some time now but it is only fairly recently that we have really been transforming the project from a theoretical idea into a practical solution. To do this we feel it’s best to collaborate and find partnerships that fit and we have been fortunate to find these with Deloitte and Bitonic. Both organizations have fantastic people with really hands on knowledge of blockchain technologies and implementation expertise. They will help us to run community experiments to see the strengths and weaknesses of the currency so that we can develop it into the strongest possible form it can be. At Next Nature we really believe that no single party should own the system but that we should all help to bring it to life.

BD: Your white paper states that the coin will be promoted and used at music festivals. This seems like an absolutely brilliant idea and great way to introduce a lot of new people to the use of cryptocurrency. I’ve helped promote rave parties back in the mid 90’s and giving 10,000 plus people instructions on anything can be a bit daunting. What is your vision for this idea and how would it be executed?

LJ: The great thing about music festivals is that they come with amazing communities and the space provides a great context as it has everything you might find in a city (water and energy infrastructure, food and marketplaces, housing etc). The key to making the ECO coin a success at a music festival is to design the system so that festival goers can learn as they go. So the ECO coin will be integrated into RFID wristband tickets meaning everyone already has their ECO coin wallets. Then people can earn and spend throughout the festival when they like. Say you use a digital ticket instead of a paper ticket to enter the festival ground, then you can immediately earn an ECO coin. Attend a lecture or workshop about sustainability and you can earn more ECO coins. Help to keep the festival tidy of plastic cups, earn even more. You can then spend your ECO coins onsite on meat-free food, exclusive digital downloads or if you earn enough ECO coins you can become a V.E.P. Much like a V.I.P but you will reach Very Ecological Person status and gain access to areas of the festival that others can’t. It’s definitely going to be a challenge to execute but we have a great festival onboard (we will be announcing who in the next few weeks so keep following our progress at nextnature.net) so we are optimistic we can make it a success.

BD: One of your plans will be to have approved businesses, festivals, and projects, to earn and use ECO coin. The white paper I read discourages trading to fiat or to other currencies. I’m trying to wrap my head around how this will work. If businesses are accepting ECO coin for goods and services won’t they eventually want to cash out for some other form of fiat or cryptocurrency? I’m imagining some guy renting bicycles at the beach and accepting ECO coin. Once he accrues a good amount of ECO’s he’s going to want to cash those out. How will business owners go about this and will this coin be listed on any of the altcoin exchanges?

LJ: Yes, although we cannot stop people from buying and selling the ECO coin we would always promote that you earn them through environmentally good actions. We want to avoid businesses “cashing out” by making sure that internal trading can happen from the other ECO coin businesses. So if the bicycle repairman has many ECO coins he can spend them on employing an urban miner to go and salvage old bike parts. The miner can then spend the ECO coins on locally grown fruit and vegetables and so forth. This idea is borrowed from the Wir Bank, which has a very successful track record of strengthening business ties whilst lowering the amount of cash liquidity a business needs. This is just one idea but we are also looking at other currencies and ways in which you might be able to invest your ECO coins in new green businesses. We also hope that becoming an ECO coin business will carry some reputational value with it. So like B Corporations, the ECO coin stamp will be a marker of a sustainable business or organization.

BD: From what I’m gathering you currently have a proof of concept and the ECO coin itself is not available yet. When can we expect to see an actual working blockchain and completed project? Please feel free to talk about any road map plans as well.

LJ: That’s correct. We are not yet on a blockchain but are, with our partners, exploring the best way to achieve this. There are many ways we can realize the ECO coin on a blockchain but we also want to use the technology when it’s appropriate. Many projects use blockchain technology too early without establishing a great community to use their coin. So our road map for the ECO coin is first focused on testing the currency within a local community (a music festival). Once we understand how to make it efficient and easy to use then we will look to spread the currency to other communities to create an international network of ECO coin users. This will go hand in hand with implementing the coin on a blockchain so that it will become a global cryptocurrency for anyone, anywhere to use.

BD: On the last page of your white paper it talks about the benefits of using the blockchain for the ECO coin token. The paper explains the benefits of blockchain voting, and making it more decentralized and democratic. Are you planning something like what the DASH community is currently doing with voting for projects and the distribution of budget funds? http://dashvotetracker.com/ How will the democratization and decentralization of the blockchain benefit ECO coin and the ECO community in general?

LJ: Exactly that. We see that blockchain technology can facilitate a far more decentralized governance system. Although the project will start with a core team/leadership we want to democratize the system so that everyone using the ECO coins can have a say in its future. We believe that no single party should own the system, but that all partners and users should be able to improve the system. In that sense making the project open source is really important to us.

BD: I remember reading about a very similar project awhile back, and at first I thought this was that project. I’ve always thought this was a novel use of blockchain technology and I love the concept of an incentive based cryptocurrency that helps to better the environment. While researching for this interview, I came across multiple other coins with the same name and ticker symbol, ‘ECO’. It looks like most of these other projects have been abandoned. How will you separate yourselves from the other ECO’s out there?

LJ: For us it’s less about separating ourselves from other projects (actually we are open to collaborate when it makes sense if we are working towards the same goals) and more about making sure that our ECO coin is something that, to stick with the environmental analogies, can grow organically. This means it has to start with making sure there is a community for this currency and that all parties are benefiting from its use. I don’t see a problem with many initiatives exploring this idea of valuing our ecology in tandem, especially when others also share what they learn from their experiments.

BD:  I really appreciate your time in responding to this interview. Is there anything that you would like to add or talk about that hasn’t been covered already?

LJ: If you want to follow our progress on the ECO coin and support our project we welcome you to become a member of the Next Nature Network at nextnature.net/welcome

BD: I ask all my interviews the same last question. Cryptocurrency will likely play a large roll in future society. How do you see cryptocurrency in general being used in the future?

LJ: Personally, I see any technology as a way to achieve some sort of societal goal. So I believe cryptocurrencies certainly have the potential to play a strong role in the future of our society because it can allow us to develop and redesign our monetary system. I think one major success of the Bitcoin and altcoin movement is that it has helped open up the conversation about how and what we value in our society. Euros, Pounds, Yen and Dollars represent one form of value but I believe its far more interesting to have many currencies representing many value systems in the world. This creates not only a more resilient economy, but also a far more diverse economy that people, objects and even plants may one day be a part of.

The Dood would like to thank Lewis Just of The ECO coin Project for taking the time to answer these questions. I’m really looking forward to watching this coin develop and wish the entire ECO coin team the best of luck on this project and all their future endeavors. This is an interesting use of blockchain technology and I’m really looking forward to following this project in the future. Try these links to learn more about ECO coin and to follow their development.

https://www.nextnature.net/projects/ecocoin/

Coming soon: http://ecocoin.com/

On twitter: https://twitter.com/TheECOcoin

 

It’s Going To Be An OK Christmas!

As many of you know The Dood is a huge fan of OKcash! I was talking with my cousin the other night and she expressed an interest in learning about cryptocurrency. I decided to get her and a couple other relatives started with OKcash this Christmas. It’s a strong coin, has a decent market cap for an alt, and lots of community support. Not to mention an easy to use wallet with support for most OS platforms.

IMO the best way to hand out holiday cryptocurrency would be to hand out paper wallets. However, to insure that the paper wallet had a backup I also backed it up with an image and uploaded it to a USB drive. I then placed the printed out paper wallet, and the USB stick in a gift box and wrapped it for presentation. Here’s what I did.

OKcash Christmas paper wallet

Finished product! Paper wallet printed out, usb stick with jpg image of paper wallet.

First thing go to the OKcash github to create your paper wallet.

https://okcashpro.github.io/okcash.paperwallets/wallets/okxmas2/index.html

There are multiple themes to choose from, I selected one of the Christmas themes.

Now make sure you press the single wallet tab, then click on generate wallet and it will automatically generate the wallet for you and create a couple matching QR codes for the public and private address. Now take a screen shot of the wallet you created and save it in jpg format.

paper wallet screen shot

The paper wallet screen shot that was printed out and saved to USB stick

I should note, that there is a way to create a really cute paper wallet / gift card but using my Firefox browser I just couldn’t get it to print large enough. I have no idea what I was doing wrong, whether it was my printer or the browser but it just wasn’t working for me. However, taking the screen shot and printing them out almost reminded me of a stock certificate and it looked really cute with the Xmas theme. So I took the screen shot, cropped the image in Gimp however any image editing software would do, printed it out and then loaded the image onto a USB stick for a backup.

Now if you have a phone wallet, that you’ll use to load the wallets, just scan the public qr code on the printout and transfer the OKcash. Send a small amount first, then go to the blockchain and make sure it accepted it and everything is working good.

https://chainz.cryptoid.info/ok/

Wait a couple minutes then type in either the transaction ID or the public wallet address to make sure the wallet is loading properly.

If you’re going to scan it off your computer you can scan the public QR code with your webcam using Webqr https://webqr.com/

Once you complete a small test transaction, load the wallets with the desired amounts.

Find your wallet in the block and verify the funds are in the wallet.
https://chainz.cryptoid.info/ok/address.dws?PSQjXjDbmjhGPEnkFmw1dNUnFS1u8dWVfd.htm

If anyone is quick enough, there’s 9 OKcash for the grabbing. Not a lot but I wanted to show a test transfer for loading the wallet.

Once the paper wallet is loaded, place in box with USB drive, wrap and give for Xmas.

What a fun way to introduce friends and family to cryptocurrency. You can do this with any cryptocurrency that offers a paper wallet. The process is pretty much the same. Thanks for reading, happy holidays, and wishing you all a prosperous New Year!

It's going to be an OK Christmas

The Dood wishes you all a happy holiday and prosperous new year!

 

Here’s a video from OKcashHelp showing you how to do it.

Don’t forget to check out the OKcash forum, when you get a chance.

OKcash forum paper wallet help
Here’s a complete list of OKcash tutorials.

To find out more about OKcash check out my interview with OKtoshi lead dev of OKcash.

Special thanks to @shbour_ for the video tutorial. Stop by his twitter page and show him some love!

 

The Dood Interviews Covertress From Krypton!

The usual disclaimer: Nothing posted in this blog, website or post is meant to be investment advice. Please seek a duly licensed investment professional for investment advice, not some guy on the internet who refers to himself as “The Dood”. In the spirit of full disclosure The Dood currently doesn’t hold any Krypton but may sometime in the future.

Krypton Coin Logo

KR Krypton

Hello, and thank you for taking the time to do this interview. Could you tell the readers who you are and what your relationship is to Krypton?

Hi, Bitcoin Dood. Thanks for giving me the opportunity to talk more about my fork of Ethereum, Krypton.

Many of your readers will probably know me best from Twitter where I’ve spent a lot of time in the crypto community since 2014. Until now, I’d been playing on Twitter as a crypto hostess, helping coins make a name for themselves and growing my Twitter following. (Now over 13 thousand! Thanks, Twitter!)

Then one day, several of my dev friends finally convinced me to dust off my project management skills and lead the development of a new digital currency, so I envisioned and they created Krypton (ticker: KR).

My real-life career has been as a business systems programmer and project lead. You can check me out on LinkedIn if you like by searching for “covertress covertress.”  So, it was about time that I quit playing coin hostess and get back into project management. I’ve shifted my full attention now into creating and building a blockchain startup so, here I am, the founder and manager of Krypton.

So from reading the BitcoinTalk Ann on Krypton, Krypton is an Ethereum based cryptocurrency that develops smart contracts and decentralized applications for business systems and the IoT. I have to admit, The Dood’s showing up a little late to the party with all things Ethereum related. I really just started paying attention to everything these Ethereum based “platforms” have to offer. If you don’t mind, for those of us who were
sitting in the back of the class and not paying attention, could you explain a little about how an Ethereum based platform like Krypton works? What do DAOs,DACs, and DAPPS have to offer us, and how do they benefit businesses and interact with the IoT?

Whoa! That is a tough question, so allow me to employ a back-of-the-class reply and keep this as simple as possible.

DAO is an acronym for a Distributed Autonomous Organization. In a nutshell, the management responsibilities of the organization do not fall upon the CEO and board of directors, management of the organization is handled entirely by the democratic voting of the organization’s coin owners or shareholders. An open ledger of votes is recorded on whatever blockchain this DAO is deployed on. DAO members spend the associated blockchain coin in order to cast votes. Voting issues can be for anything from funding projects to determining how the DAO will actually operate.

DAC is an acronym for a Distributed Autonomous Corporation. Here’s the best, simple explanation of a DAC that I’ve read so far:

Imagine a corporation that engages in economic activity without guidance or direction from humans. Programmed with a mission statement maximize profit for shareholders from the sale of widgets, for example the corporation could own capital, enter contracts, and employ robots. People could even be hired for more creative tasks. Such an entity would live on the Internet, distributed across thousands or millions of nodes (stakeholders who host the DAC on their computer). The Economist: DAC Attack.

A DAPP is a Decentralized Application. Because it works in the same way as a DAC, being distributed across a multitude of nodes, it is an application which does not suffer the fault of downtime.

A Smart Contract, which is really just a piece of code within a DAPP, can continue to run forever, provided it was not programmed with a suicide clause which will terminate it. This code, once initially provided with the proper data inputs, can autonomously draw conclusions and provide output without any further user input.

How’s that? Still need that dunce cap?

Great explanations thanks. 🙂

Is it safe to assume that both Ethereum and Krypton are the same underlying technology? Could you  also explain a little bit about how the Krypton project differs from the Ethereum project?

Yes, both Ethereum and Krypton are the same technology. What differentiates Krypton’s coin, KR, are a few minor things: fewer initial coins at launch (~2.669 million), faster block time (15 seconds) and lower inflation (creating 1 coin per minute through proof-of-work mining.)

Since KR is a fork of ETH, Krypton will not be required to perform the same updates that Ethereum will do. As you may have read, Ethereum is planning to change their platform from proof-of-work (POW) to proof-of-stake (POS) with their planned release of the Casper protocol.

We at Krypton have decided to take a wait-and-see approach to all developments from Ethereum, especially one as large as this which would affect how KR’s blockchain functions. Besides, by remaining POW while ETH goes POS, KR will be well positioned to pick up ETH’s disenfranchised miners.

Krypton is fairly new, I believe it was released February 18th 2016. You’ve already put together a pretty impressive team to work on the project. Do you care to talk a little about team Krypton and what they bring to the Krypton community?

Haha. That’s a tricky question since many of my lead developers so value their privacy that I only represent them on Krypton’s website and our BitcoinTalk OP as anonymous avatars. Fortunately, rather than scaring angel investors off, this has endeared many to Krypton. After all, one of the main tenants of a good digital currency is anonymous peer-to-peer transactions. Why couldn’t this anonymity also apply to a development team?

Like I did at Consensus 2016 and in all my business dealings, I use my real name. However, for Twitter, LinkedIn’s main page and other internet forums, I too remain anonymous, as covertress (which means female spy.) I do this for personal security reasons.

Now, some members of Team Krypton are not such privacy snobs as I like to call us. Our web developer, Saugat Sigdel, who created Krypton’s faucet, is a talented young man from Nepal.

I’ve employed a host of translators to bring Krypton’s message in our BitcoinTalk OP to the world. Many of these people use their real names, others remain anon.

A longtime anonymous friend of mine, Aminerminer, does much of Krypton’s graphics.

Krypton’s core development team, RagingBull (blockchain administrator) and Krypton_Dev (lead developer, who is a JS guru with tons of smart contracts experience), as well as our current pool of Solidity developers (whom I like to call Spec_Apps) are all anonymous on the internet.

If you’re a talented dev who values your privacy, join Krypton. We won’t give you up for our press. Besides, I kind of enjoy the spotlight and won’t mind the fame if Krypton grows to be the size of Ethereum.

As a trader, I’m always interested in how a project is funded and supported. Was there any type of ICO? Was there a premine? Is the project completely funded by community support? How does the Krypton project support itself?

When the KR chain was initially created, it was premined to generate 10,000,000 (10 million) coins for use in Krypton’s Crowd Funding Campaign. This CFC lasted several weeks and distributed a final total of approximately 2.669 million KR coins. The remaining coins of the initial 10 million premine were burned. Krypton officially launched with this ~2.669 million in total KR supply.

Krypton’s CFC generated a total only ~3.94 BTC, which at the time was worth roughly $1,600. No surprise, this has already been spent. My business trip to Consensus 2016 and promo materials alone were far more costly than that. The remainder of this expense came from my own pocket.

Everything Krypton has built to-date has been through volunteer effort and through personal funding from our core dev team.

Looking forward, Krypton will remain a volunteer dev and community-supported project until we get those angel investors to open their wallets. I’m working hard to foment these relationships. I’m not the only one on Team Krypton who would enjoy working it full-time, with benefits.

At the time of this writing, coinmarketcap.com shows 2,804,787 KR available. What will be the maximum amount created?

I hope many many more millions since KR is a POW blockchain. One KR is generated every minute. That’s an additional 1,440 KR each day. Compared with Ethereum that generates 20 coins per minute, KR’s total coin supply will remain relatively low.

Until a time that KR moves to a POS protocol, the total number of KR will naturally remain unlimited. Of course, it will take much time to add to the total number of available KR coins since KR has such a low inflationary model.

According to the Krypton blog :
http://krypton.rocks/2016/03/25/covertress-is-bringing-krypton-to-the-consensus-2016-conference/

Krypton was represented at the Coindesk Consensus summit. There were a lot
of big names and players in the fintech industry in attendance. Could you
tell us a little about the conference and how Krypton was received?

I began by joking with the attendees of Consensus before I ever arrived. On Twitter I posted a picture of Angelina Jolie in Maleficent and said that everyone at Consensus will know my true identity. Haha. Many more than a few people actually recognized me from Twitter. Roger Ver, Purse’s CEO, Andrew Lee, and Emily from Shapeshift.io were among them. It was a pleasure for me to connect with these people in real life.

Oh! And speaking of faces… I took one of the personally worst photos ever when I snapped a selfie with Gavin Andresen. I’d show you but, I’d have to kill you. Lol.

I wished that I had not booked my travel arrangements so early because Consensus added two days to their agenda, before the conference, and devoted this to a hackathon. I missed it. One of my primary reasons for attending was to find more developers and try to hire them for Krypton. As luck would have it, one of the first people I met was Eric Piscini, a principal at Deloitte, who was one of the panelists at the hackathon. He caught me up on what I missed and introduced me to some amazingly talented devs. He was personally blown away by these kids at the hackathon as was I when I met them too.

Overall, I couldn’t be more pleased with the stack of business cards that I collected and new friends that I made. In my opinion, there is simply no substitute for conducting business face-to-face. I plan to attend many more conferences on behalf of Krypton.

Are you at liberty to  tell us if any companies have already hopped on board with Krypton, or are you in negotiations with any companies that you can talk about?

Not at this time, but I’m so excited I can hardly keep my mouth shut.

So the more I learn about DAOs, DAPPs, and smart contracts the more I realize the future of business or at least running one may look significantly different in the future. For example, a boss or manager may be replaced by an employee simply meeting the requirements of a smart contract. In some way’s a DAO could even replace everyone in upper management, with DAO holders voting on how the company runs. So back to the technology of Krypton. How will technologies like Krypton reshape the landscape of the corporate structure? What type of changes do you see in the future of businesses utilizing these types of technologies?

I’d have to get out my crystal ball to see where The DAO (Slock.it) will end up. I’m not impressed by this democratic crowd management model. First of all, there is no incentive for DAO holders to vote no since coins are required to vote and all coins are held in limbo until the vote concludes. This promotes yes votes, which promotes spending, since that’s what the coin owners are voting on, what projects to fund. It’s quite possible that The DAO will spend itself into the grave. In addition, I’ve spoken with several attorneys who see a ton of legal issues with this model and also complain that it was too hastily put together, without proper legal precedents being set before launching. Suffice it to say, Krypton will not be employing this type of DAO technology. I’m the head of Krypton and I’m not giving up my job of directing it to the uninformed masses.

DAPPs and smart contracts are a different story. I see these coming to every business model imaginable and that’s a good thing. Businesses who employ these technologies will not only streamline their accounting and product delivery but they will also benefit from a shift to becoming more service-oriented and by providing more information to their customers. And, a customer who feels that he or she owns their own data and can manage that data easily is a happy customer.

In addition to business systems, the Internet of Things (IoT) is estimated to consist of almost 50 billion objects by the year 2020. That’s a lot of objects to code for!

Krypton’s focus will be on developing applications for business systems and the IoT. I know this is broad by definition but, why limit ourselves to just locks, for example, when these new technologies allow us to do it all?

Anything you want to add about Krypton or tell the readers about that wasn’t covered in the interview?

I am so proud of the greater Krypton Community. It has grown so fast and accomplished so much. Krypton’s slack now hosts over 220 members. All of our community members, including those who found us through Facebook and Twitter and irc worked together to overwhelm Bittrex with a ton of messages, towards the goal of adding KR. Sorry, Bill, but you chose that avenue of engagement! Lol.

As a company, Krypton may look like a mouse when compared to the elephant size of Ethereum but, just give us time. I’m a patient and determined woman who has been blessed with an excellent team. Watch us.

OK, I ask everyone the same last question. Where do you see cryptocurrency going in the future? Any thoughts, visions, or predictions you might want to share about the future of cryptocurrency in general?

The cryptocurrency market will continue to be refined through new, real-world uses and new technologies. No one could have predicted Ethereum’s creation and rise in 2010, just as we cannot predict where crypto will be in 2020. However, we now have the tools to produce the self-governing and distributed systems and organizations that I think we will see much more of and hopefully, with Krypton’s logo on them! It’s an exciting time for crypto and an exciting time in which to be alive.

Follow these links to find out more about Krypton KR :

https://twitter.com/covertress

Looking for smart contract and DAPPs developers.
https://bitcointalk.org/index.php?topic=1368118.msg15114757#msg15114757

http://slack.krypton.rocks/

http://krypton.rocks/

https://bitcointalk.org/index.php?topic=1368118.0

https://coinmarketcap.com/currencies/krypton/

The Dood Interviews Bitcoin Whos Who

logo bitcoin who's who

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I was playing around on your site and I have to say it’s really cool. I found one of my older bitcoin addresses that I’ve only used for experimentation and tips on blogs and entered it into the search box. It found the associated website bitcoindood.com, the page description, the number of transactions,and a lot of additional information. I was surprised at the amount of information it actually pulled. Where does this information come from and without getting overly technical, or giving away any company secrets, how does this work? 

Thanks for the questions Dood. At this stage you can think of Bitcoin Who’s Who as a big data public reference project complete with its own web crawler. The goal is to provide everything there is to know about a bitcoin address in one report – including website appearances, wallet ID, balance rank, transaction information and more. We collect website appearances and partner with other providers for the rest (WalletExplorer, BitcoinRichList, Blockchain.info)

Besides being a really cool and fun site to play with. Why did you build Bitcoin Whos Who, and how do you envision people using it? 

We built it for fun, and because we saw a need for a keyword search for bitcoin info, rather than being limited to searching by address.  The possibility of finding newsworthy connections was another reason, and we’ve been able to find some pretty interesting stuff (see our blog).

Once you type that first bitcoin address into the search box and see the results for yourself you get a good sense of how much information is available when using bitcoin. It also shows that bitcoin is only as anonymous as the person using it. Once you have someone’s bitcoin address you can see every transaction associated with that address. I guess that’s a good reason to use a wallet that issues several bitcoin addresses and why you should change them often. I know a lot of people don’t like the fact that all of their transactions are recorded on the blockchain for the world to see. What are your feelings on this? Do you see it as a problem for bitcoin? Do you see it as a hindrance to mass adoption? Do you think this is a negative or positive for bitcoin? 

The blockchain is great for people that benefit from being anonymous and it’s great for people that benefit from being known. You can actually have it both ways with bitcoin so we view it as a great strength that will encourage adoption of the protocol over time. 

On the results of my address search, for “Most Recent Known Output” and “Most Recent Known Input” the address seemed to be associated with a twitter account I wasn’t even following, and a Irish cryptocurrency faucet list that I don’t ever remember visiting. How accurate is the information, and why would the address be associated with that particular twitter account and website? 

Yeah, well, you know, that’s just like your opinion man. (j/k, had to, it’s my favorite line from the movie.) 🙂
The idea with the “most recent” fields was to show transactions with any “known” addresses, i.e. addresses we had “tagged” to a website. It doesn’t work as intended sometimes. Just because we find an address on a website doesn’t mean that is the same owner. I’ll rename that something clearer. Send me the address you searched and I’ll be happy to explain the relationship it found. 

I did sign up for the site and I submitted a profile. I entered some basic information pertaining to bitcoindood.com, my bitcoin address, a little information about the website and what it offers. Will this eventually work as a directory or a search engine for bitcoin related businesses? In other words, if I wanted to put my bitcoin address in a QR code on my business card, could my potential client scan that address and pull up all my company information on your website? Is that one of the site goals and objectives? 

Yes to all those questions!  The next major enhancement we’re planning involves a revamp of the “Submit a Profile” feature where we’ll allow you to enter more info – type of profile (business/individual), social media links, and more.  Then the plan is to enable searching by all of those fields.

We’re also considering “Verified Profiles” where you would send us a tiny amount of BTC in order to verify that your profile is actually associated with that address.  That way, your potential client could not only get all the background on your company (KYC), but they’ll also be able to make sure that the address is correct before sending any BTC to it.  This should be especially useful for charities or others looking for donations.

I really enjoyed learning about Bitcoin Whos Who and playing around on the website. Any final thoughts you want to share with the readers about Bitcoin Whos Who that may not have been covered in the previous questions? 

I would just mention that we’re also working on address clustering, so users can see other addresses likely to be controlled by the same entity. And we love hearing from people so please don’t hesitate to contact us – admin at bitcoinwhoswho.com. Thanks Dood! 

I ask all my interviews the same last question. Where do you see cryptocurrency going in the future? Any thoughts, visions, or predictions you might want to share about the future of cryptocurrency in general?

Bitcoin to the moon! Bitcoin is here to stay – it’s just a question of how widespread adoption becomes. 

We believe that bitcoin’s frictionless cross-border, thirdparty-less validated, payment system awesomeness will flourish.

As far as other blockchains, I’m interested in ETH and the concept of smart contracts, but I also think that ETH and BTC will co-exist nicely in the marketplace addressing different market needs.

Andy Duggan
BitcoinWhosWho.com

Thanks to Andy Duggan for taking the time for this interview. The Dood had a lot of fun playing around on Bitcoin Whos Who. If you get a chance stop by the site, type in a bitcoin address and see what kind of information you come up. http://bitcoinwhoswho.com/

Interview With Kobocoin Dev

The Kobocoin dev was kind enough to take some time out of his busy schedule to give “The Dood” an interview. I sincerely thank him for giving me this opportunity to share his story, and also for taking the time to answer my questions. I also should disclose that “The Dood” does hold a small amount of Kobocoin. With that said, please enjoy this interview with the Kobocoin dev.

Kobocoin

First off thanks for taking the time to answer the questions for this interview. I really appreciate it. I recently moved servers, and lost 3 months of old blog posts, and this will be the first interview on the new blog. Thanks for giving me the time and opportunity to help get the word out about Kobocoin.

Thank you as well for the interview. It’s really appreciated. Exposure is definitely required in such a fast-moving industry. Kobocoin is going through a period of rapid development and it’s great to be able to take that news to the wider public. Kobocoin was recently listed as one of the African FinTech 100. These are among the most innovative and disruptive startups in Africa. We’re also one of the nominees for the African FinTech Awards. http://www.fintechafrica.co.za/fintech-100.html. It’s good to get that news out there, so thanks!

And sorry about the data loss. I recently went through the same thing when I lost a server, but thanks to GitHub I was able to recover everything quickly. Ironically, the data loss and rebuild has made the KOBO mobile wallets more stable and reliable. It was a good test of a backup/restore strategy. I only lost 1 night’s sleep and 2 pints of sweat, so not too bad.

So if you don’t mind, could you please tell the readers a little about yourself and your relationship to KoboCoin?

I’m the dev for Kobocoin. I’m not really an über-coder like most devs. I’m a community member with a vision of mainstream cryptocurrency adoption and I do have a day job. Crypto is an industry where I’m constantly learning new stuff. I’ve been involved with cryptocurrencies since mid-2013 when I started investigating bitcoin. I became a Litecoin miner for some time, then decided to look into other altcoins and discovered a lot of innovations taking place outside the bitcoin ecosystem. I used to make a lot of noise on forums about cryptocurrencies not being user-friendly enough, and being unfairly hoarded by the few. I also used to bang on about tech developments being nice for the crypto community but not something the wider public understood, or even desired. Kobocoin is some ideas I have about the industry in one cryptocurrency but released in the hope of adoption by the wider public.

I read that there was no ICO/IPO/or premine. How many people are currently involved with the project and is it entirely community supported?

At the moment it’s a one man project supported by a very loyal community. We also get a lot of support and encouragement from other projects, which is always appreciated as well.

Doing a little research on your coin, I see it’s geared towards the people of the continent of Africa. How did you come up with the idea for the coin, and was it born out of a necessity that you saw needed to be filled?

I’d had the idea for an African cryptocurrency for some time after I’d seen how cryptocurrencies work and discovered their mobile capabilities utilising QR codes. Africa is by far the largest mobile FinTech market on the planet. It’s so far ahead of the rest of the world that its mobile FinTech is being exported globally. I believe that the current offerings have barriers to entry that Kobocoin doesn’t have. They also charge a lot more than you’d probably expect. It’s said that 80% of Africa doesn’t have a financial history of any kind. I grew up in Nigeria. I never had a bank account. I never even considered opening one. Kobocoin would definitely have suited me. Participation doesn’t require a financial history of any kind. All that’s required is a wallet and some KOBO. No registration necessary, no subscription required, no questions asked. Mobile, web, or desktop. That’s it. Smartphone growth in Africa is booming. Kobocoin is ready to bring the next level of mobile FinTech home to make a difference.

Now Africa is the second largest and I believe the second most populated continent on the planet. It covers over 54 individual countries and also the Western Sahara. Is the coin geared towards any particular group or groups of African people or for the entire continent in general?

Kobocoin is a global cryptocurrency with an African heritage. It has a West African outlook in terms of the original concept, the naming of the 4 denominations, and the maximum number of coins that will ever be produced. I wanted to make sure that we Africans have our own cryptocurrency ready to adopt when the time comes. The names used for the KOBO denominations were carefully selected. They have been used in Africa, and the world over, for centuries of trading. Kobocoin as a currency can be easily adopted, globally, without getting lost in translation. In fact the most mobile wallets have been downloaded from Saudi Arabia and China. There’s also a lot of interest from the Philippines.

Do you see the coin as direct competition with services like Vodafone’s M-Pesa and BitPesa for remittances ? Also could you tell the readers how Kobocoin differs from these services?

Yes, and no. I’ve dabbled with Kobocoin being used for remittance but, at its heart, KOBO is meant to be used as a peer-to-peer currency. It is built and intended for person-to-person, face-to-face transactions. The idea of remittance to Africa is a great one. It’s an $80bn+ market, and perfect for the low costs of cryptocurrency transmission. In that respect we are more aligned with BitPesa than M-Pesa. But we’re hoping for a more direct means of remittance transport. I’d like to see individuals using the KOBO wallets themselves rather than relying on any third party services acting as an intermediary. In reality, there are so many conditions necessary to achieving a presence in the African remittance space. The main one for any cryptocurrency is trading volume. Without it, remittance is a dream.

I’ve read that parts of Africa are a little slow to adopt new technologies and also cryptocurrency in general. Is this trend changing and do you see Kobocoin as an easy solution to introduce more of the people of Africa to cryptocurrency?

I can’t say I see that changing more quickly than it is already. It’s easier for people in the West to try out new tech with the disposable incomes they have. One thing I know about back home is that money is not to be played with. I don’t see that attitude changing very quickly, but in saying that you also have to remember that Africa is the world’s largest adopter of mobile FinTech, by a very wide margin. So you have to question who is actually being slow in adopting new technologies? Kobocoin, with its human friendly naming conventions, will definitely make it easier for people to relate to the concepts of cryptocurrency, their subdivisions, and lack of a middleman in transacting. It’s a very easy entry point into a highly complex industry.

I would love to see a day when we no longer have to cash out cryptocurrency, and can pay and get paid in cryptocurrency without the use of government backed fiat. Do you see this happening sooner in parts of Africa where many people don’t have bank accounts, and how do we get to the point where none of us depend on government backed fiat currency anymore? Do you think that’s even possible?

Yes I do. Barter is very important back home. If something has value, then people are happy to exchange it for what they need. In this respect I think Africa could lead the way with cryptocurrency adoption in the near future. I personally feel that fiat money is not as important to people as what it does for them. If you can replace fiat with another form of ‘trusted’ value transfer then people will be more than happy to adopt it. Remember that M-Pesa itself was borne out of people spontaneously using airtime as a proxy for money transfer. Kenyans were transferring airtime to their relatives or friends who were then using it or reselling it. This shows that people are happy to use whatever is of value for their own purposes or goods and services. I believe that once people accept the intrinsic value of cryptocurrencies you’ll see a rapid rate of adoption and usage. Statistics say 80% of Africa is unbanked. Kobocoin, and cryptocurrencies in general, offer a direct route to mobile FinTech without the hurdles.

There are so many altcoins now and I think that is a good thing for the most part.
Competition creates innovation. Do you care to talk about any of the differences that separate Kobocoin from other altcoins on the market? Any special wallet innovation that you care to tell the readers about and why they might want to use Kobocoin or its wallet over other products currently available?

Kobocoin is optimised for mobile phone usage. It’s one of the faster cryptocurrencies available and is actually 4 currency denominations in one. The main unit is KOBO, followed by MANILLA (mKOBO), COWRIE (uKOBO), and finally MANSA (satoshi). These human friendly subdivisions allow for KOBO to be easily used as a microtransaction tool. It’s one of the few cryptocurrencies with Android and Blackberry wallets currently available and in daily use already. It has the global infrastructure to ensure 24×7 reliability. I’m also in the process of building the Javascript client libraries to allow a new breed of web and mobile wallets to be developed. We already have an address-to-address private messaging sidechain and I’m looking into how new sidechains can be used to further extend the capabilities of the blockchain. And don’t let me forget that KOBO can also be used for twitter tipping (which is how we first met!). I’m hoping that KOBO tips can one day be exchanged for phone credit or any other necessities over the internet.

One of the things I discovered while researching the coin is that there was no ICO or premine and there will only be 350,000,000 max coins created. If I read correct the coin is now past the POW stage and is strictly POS. Last I checked the coin was fluctuating between 200 and 500 satoshi, any comment on where you see future valuation of this coin? Do you think it’s currently undervalued?

Do you really expect any dev to say their currency isn’t undervalued?? Yes, PoW ended 1 month after launch. It was quite an exciting time; we achieved some massive unexpected hash rates that month. It’s now pure PoS with 10% reward per annum to encourage long term stakeholding. I personally feel that the important thing for any cryptocurrency is not the unit price but the trading volume. Without a large enough trading volume the currency doesn’t have any stability. Without stability it won’t be seen as a reliable and trustworthy store of value and, as a consequence, will struggle to gain adoption. As a wish upon a star, I’d like to see the KOBO daily exchange volume hit a minimum of $1m for a 6 month period. That would definitely mean stability!

Final thoughts? Anything you would like to tell the readers about the coin or wallet that hasn’t been answered in the previous questions ?

There are many developments on the horizon for Kobocoin. The new Javascript libraries being released very soon are only another step in building a cryptocurrency ecosystem that’s custom built for the needs of African continent. There is a Kobocoin platform in development that will allow easy access to the blockchain and also allow interested parties to build services on it.

I see Kobocoin is currently available from yobit.net and coinexchange.io. Are there any other places we can purchase Kobocoins or any exchanges you are currently in the process of negotiating with that you are able to talk about?

I’m in the process of talking to a few other exchanges and the sounds are positive so far. I really want to roll out more services on the blockchain and continue with spreading the Kobocoin message. With the current marketing and twitter push I’m hoping to expand the community. When we do hit the larger exchanges we’ll have the volume to keep everybody happy.

OK, one last question! I ask all my interviews the same last question. Where do you see cryptocurrency going in the future? Any thoughts, visions, or predictions you might want to share about the future of cryptocurrency in general?

I see banks and cryptocurrencies existing side by side just as online shopping exists side by side with bricks and mortar. I don’t see the death of either. I see Africa lead the way in mobile cryptocurrency adoption with an explosion out-of-nowhere that no-one is expecting, or ready for. And, in general, I think BRICS will lead the way in crypto adoption.

Bloggers note: For anyone that doesn’t know, BRICS is an acronym that references the emerging national economies of Brazil, Russia, India, China and South Africa

Well that’s it… I really appreciate you taking the time to answer my questions and share the Kobocoin story with my readers. I’ve been playing around with the coin for about a week and absolutely love it. The Dood’s a big fan of POS, and I think that’s a great feature for any coin, especially for people who hold any amount of cryptocurrency and not just cash out as soon as they recieve it. I’ll certainly be using the coin more in the future. Best of luck to the Kobocoin team, and with all your future endeavors!

Thank you. And welcome to the KOBO community!

Thanks!

Again, I’d really like to take a second and thank the Kobocoin dev for taking the time to answer my questions. The Dood really enjoyed this interview and hope you , the reader, also found this informative and useful. Again, in the spirit of disclosure, I do have a small amount of Kobocoin, and plan on purchasing more in the future. This is not meant as investment advice. To find out more about this interesting coin, and do your own due diligence, check out the following links.

The Bitcointalk Announcement Page.

http://kobocoin.com/

Coin Market Cap

Git Hub

Twitter

Now available at: coinexchange.io and yobit.net

Kobocoin

Kobocoin