That's great news to see the bill progress further. I've been following it since I heard about it. DNotes Global is incorporated in the state of Delaware. As stated, it will make the swapping of assets much easier, faster, and cheaper and make blockchain equity platforms more attractive with the first state backing it. DNotes Global is incorporated in Delaware.
Thank you, alaalfa, for bringing this to our attention. This is very significant. Delaware is taking the lead but one day all the remaining states will follow, including Illinois. DNotes Global, Inc is incorporated in the state of Delaware and operating its registered business in the state of Illinois. It has limited transactions and business activities at this point but that will change in the future. The path we a chosen is consistent with our vision and the likely path of state and federal regulatory registry, reporting, and licensing requirements as the industry becomes increasingly matured.
Personally, I am concerned about the reckless conducts of our industry as a whole, especially, with regards to the rampant speculative ICOs often with little to zero underlining value. I am fearful that many investors will see substantial losses in their investment with no recourse or hope that what they invested will be worth anything one day. We are already seeing a "blood-bath" that could be quite painful. And regulators will have no choice but take corrective actions to protect consumers investors.
This is a very predictable out-come and a thinning-out process, just like what happened to other emerging technology eras, including PC and dot com. Only a few survived but most vanished. DNotes will survive the test of time. Sadly, most investors in our industry don't seem to do enough home-work to separate fluff from substance. Despite significant added value in DNotes 2.0 development and other areas the value of DNotes has dropped by 75% from its high. It has been under-valued to begin with. I am in accumulation mode.
Do you think that that time of "cleaning" is already here? What about the August 1st? Will you keep your funds on poloniex? Sad story about this blood bath. I am in accumulation mode too, switching from coins that remained more stable to DNotes and Eth.
From my prospective, the industry market-cap went up too quickly to an unsustainable level. It is now trying to seek a technical bottom and re-establish itself before the next up trend. The August 1st Bitcoin hard fork user activated Segregated Witness (Segwit) under Bitcoin Improvement Proposal (BIP) 148 will introduce further uncertainties and prolong the correction period. Over the short term this will be very damaging, especially, those with ICOs in the works. I believe that investors will be more cautious going forward; though the greed factor often lead to short memory. Best case, people will try harder to do their home before investing a good thing for DNotes. I am certain that the thinning out cleaning process has already started.
Longer-term out-look is excellent for DNotes. The insane volatility will cause significant loss of confidence to most real world investors that are waiting on the side-line. More people will begin to appreciate why DNotes has elected to take a different path with a focus to create fundamental intrinsic value for DNotes stakeholders.
Especially after our recent meeting with our core development group, I am very confident that DNotes will be a technology leader within a year or two. DNotes 2.0 will be a significant contribution to our industry once we achieved 100% conversion to C#.
Think of it as a brand new garden hose as oppose to one with 100 patches from volunteers with each hose clamp tighten from 85% to 95% Tensile strength. There are inefficiencies and leaks all-over. That is the inherent problem of an open source environment, especially without strong leadership and commitment to finish the job no matter how challenging and difficult.
In reality, you can not fire a volunteer. They all believe that they have the best solution and often left the last 10% to 15% of the most challenging part unfinished. All the work-around and patch after patch lead to inefficiencies and confusions. We are committed to give DNotes 2.0 a clean start. That will give us the advantage to offer many apps we have in mind.