Quote from: NewLiberty on May 28, 2015, 11:48:56 AM

Quote from: HeliKopterBen on May 27, 2015, 07:28:37 PM

Quote

Veritaseum uses only bitcoin, and subsists completely on the bitcoin blockchain. It is the only bitcoin wallet system that can trade simple and complex value structures without using non-bitcoin tokens, alt coins, sidechains or alternative blockchains. It can trade the value of over 45,000 tickers in all asset classes, from major exchanges from all around the world. At its essence, Veritaseum is a hyper-intelligent Bitcoin wallet system that is able to create and interpret smart contracts through the blockchain. It coordinates with an Oracle to gain access to conventional, physical and legacy financial data and information and uses it to price, value, trade and settle OTC, P2P financial instruments - all in BTC.

Quote from: from Reggie Middleton

The Veritaseum platform, using nothing but pure bitcoin with no tokens or alternative internal currencies, moves the value of all that he mentioned plus much more (over 45k tickers), with absolutely no counterparty risk on a fully autonomous basis using smart contracts based solely on bitcoin script

It might be worth pointing out in these two posts.

Post 1 - it uses an Oracle
Post 2 - claims no counterparty risk.

A trusted oracle is a 3rd party. Is this not a form of counterparty risk?

No, an oracle doesn't represent counterparty risk. If anything it may expose you to execution risk. Counterparty risk is the risk that your counterparty (other side of the trade) reneges or fails to deliver as agreed. That's not possible in our system because we make everyone face the blockchain as a Counterparty via preprogrammed scripts of coin that is used to fully collateralize (and/or overcollateralize) the contracts. At an absolute minimum, each contract is collateralized 100%, after all fees. I'm writing this on my phone so there may be typos.