Re: NEM partners with major bank, consortium of 5000 businesses, and cloud service
Not to be rascist but factual. I think you will soon learn why Japanese are not leaders in software evolution.
An exception might be the Nintendo and Sony Playstation which were the forerunner of the Xbox. That was more an outshoot of Japanese anime (cartoon) culture than software innovation. The programmer Mike Fulton who worked for me back in the 1980s (on WordUp, FONTZ! on the Atari ST) ended up being the head of development relations in the USA for the Playstation. Mike was very diligent and a reasonably smart guy, but I could run rings around him mentally (and athletically but I am now no where near where I was physically then, neither is he lol).
Point of the link above is the Japanese are a corporate culture and do not typically understand hacker culture, concepts which are anti-authoritarian, nor viral growth strategies.
The Playstation succeeded in no small part due to the work of USA developer participation such as that of Mike Fulton on developer relations with USA software developers.
Private block chains are a big yawn, because they break the trustless property of block chains (if you don't understand that, then you shouldn't be investing in anything until you finish a crypto 101 course):
most core crypto concepts are lost on this alt crowd.
gotta love when crypto goes from being an alternative to the greedy bankers of the world, too working for them
I have no problem if the banks use decentralized block chains, but I do have a very big problem with a world in which instead of one internet, we have many private corporate intranets which can't freely interopt with each other.
The entire reason that corporations must adopt open source and why the world must adopt one internet, is because closed source does not scale. And it causes all sorts of dependencies which muck up degrees-of-freedom and cause Rigor Mortis.
Sorry private block chains are not an evolution. They are devolution. And anyone who doesn't understand that, shouldn't be marketing anything in crypto.
study evolution and learn some history. how do things change? life didn't evolve from amoeba to humans in one go!
having japanese banks assimilate the 'idea' of a shared ledger (even if permissioned) is a stepping stone to decentralised finance. once they start using blockchains they won't go back, and when they fail the 'concept' of blockchains is already established and moving to open shared ledgers is easier.
do you expect banks to accept bitcoin straight off the bat?
do you expect banks to roll-over and die?
bollocks ... they'll evolve
having japanese banks assimilate the 'idea' of a shared ledger (even if permissioned) is a stepping stone to decentralised finance. once they start using blockchains they won't go back, and when they fail the 'concept' of blockchains is already established and moving to open shared ledgers is easier.
do you expect banks to accept bitcoin straight off the bat?
do you expect banks to roll-over and die?
bollocks ... they'll evolve
How ever the banks evolve to decentralized block chains, they are extinct. So I don't see the point. NEM is extinct.