Russia’s National Settlement Depository Trials NXT Blockchain-Based E-Proxy Voting Prototype

Russia’s National Settlement Depository (NSD), the country’s sole central securities depository (CSD), has tested a blockchain-based e-proxy voting system using the NXT blockchain platform. The NSD provides settlement services for government bonds, municipal bonds and corporate bonds, accounting for 99% of domestic corporate bond issues.

E-proxy voting is a technology designed for corporate actions processing that provides electronic interaction between securities holders and issuers for the purpose of exchanging information and documents.  According to the NXT Foundation, initial tests have revealed that the NXT blockchain based voting system can support 80 votes per second, however the NSD hopes to scale the system’s throughput to 300 instructions per second.

Dave Pearce, founding member of the NXT Foundation, commented:

“The National Settlement Depository’s decision to use NXT technology for its voting system demonstrates very effectively how mature and versatile our platform is. NXT blockchain technology provides a technological quantum leap that allows institutions to replace external verification processes carried out by computers or humans, with a blockchain-based system that has these verification mechanisms built into its very core.”

E-proxy technology was introduced at NSD in August 2014. In April 2015, NSD upgraded the technology, bringing it in line with the global ISO standards. In April 2016, a blockchain-based prototype of e-proxy voting successfully passed the testing related to bondholder meetings. The NSD’s decision to trial a blockchain voting system is the latest announcement from a number of institutions to trial blockchain technology and create greater efficiency and transparency in financial markets.

Read more: http://allcoinsnews.com/2016/05/04/russias-national-settlement-depository-trials-nxt-blockchain-based-e-proxy-voting-prototype/

Drachmae Project Plans Blockchain-Based Travel Club, Token Crowdsale

In 2015, during the Grexit debate, the Drachmae Project was exploring various use cases over the blockchain. This year, after aneducational Proof of Concept, the project is moving forward to use blockchain technology to disrupt the travel sector.

Last year a multi-currency wallet called Drachmae Money was constructed, and SMS and NFC interfaces were added and tested alongside card payments. The lessons learned highlighted some risks, for instance that it is highly possibly to do double spending using Bitcoin.

According to the project leaders, testing on Agistri Island in Greece with a  digital currency and blockchain derived credible data on which to build services that are centered on human behavior.

Project Lead, Lee Gibson Grant, notes:

Consumers and businesses alike require this most of all: Convenience, Savings, Assurance and Community. Techno-centric thinking tends to lose sight of these benefits.

Drachmae Project is now developing its commercial solution that targets travel. The solution will use more than the NXT blockchain used in the Agistri case study. It will also be using Ethereum and permission nodes, and has been dubbed DT Chain.

To raise funds for its development, the Drachmae Project is launching its own crowdsale, where it will offer two instruments:

  • an initial coin offering of the native toke used by the network, DT Token
  • tokenized and smart contract based memberships to a private travel club that will support multiple currencies and be tradeable.

The memberships include Standard – limited to 50,000, Gold – limited to 25,000, and VIP – limited to 5,000

The DT Token total supply will be limited to 88,888,888 tokens, with 8,888,888 being released for the crowdsale. Drachmae has pledged the proceed to supporting the release of the “Travel App Game”, set to launch in June 2016 and Travel Club in September 2016. The most important development is the travel money service, which uses lockchain technology and will be connected to a branded prepaid card.

Grant adds:

The larger question to be answered is whether there is actually appetite to disrupt the Travel Sector, and why this type of project would be supported. Is it the start of an alternative loyalty and rewards mechanism to compete with Air Miles that is currently in decline.

Read more: http://allcoinsnews.com/2016/05/02/drachmae-project-plans-blockchain-based-travel-club-token-crowdsale/

The Viral Exchange joins SuperNET


The Viral Exchange (TVE), project-led by Killakem (founder of Fibre coin and also project leader of Blitz), has just been announced as a SuperNET official partner.

TVE enables users to promote their websites and social media presence whilst earning NXT, Bitcoin and Blitz for their social interactions on all the major social networks.

TVE is the first social exchange platform that allows users to cash out points to digital currencies.

Killakem writes:

The Viral Exchange (TVE) is a next generation social exchange with the goal of monetising social network activity via the blockchain.

TVE is a free social exchange network which helps businesses increase their social network presence and drive users to their websites. The exchange system is very simple: every time a user likes, follows, or views another member’s social media page they receive Viral Points which can then be used to get more followers, likes, views or visitors to their own website or social media pages. The Viral Exchange is the first social exchange platform that allows users to cash out points to digital currencies. Users can earn Bitcoin, NXT and Blitz with their Facebook, Twitter, Google+, YouTube plus many more.

The Viral Exchange is now a SuperNET official partner! TVE will be helping to raise awareness of SuperNET inside and outside of crypto, while also providing free marketing on the platform and exposure through our press releases. TVE will also utilize InstantDEX for automated user withdrawals once its ready and we will be integrating SuperNETs innovative technology with TVE wherever possible.

Version 2 of TVE is currently in beta testing and 100 Blitz is being offered for every new bug found (cosmetic bugs not included).

To find out more, join the Bitalize channel on Slack.

TVE is being redeveloped from scratch, the new platform will utilize an MVC Architecture providing an extensive API. Moreover, the NXT Monetary system will be used as part of our Proof Of Reserve system, this will give users, marketers and asset holders complete visibility of the purchases and withdrawals on The Viral Exchange. Asset holders will not need to rely on the information we give them: all deposits and withdrawals will be publicly available on the blockchain.

[Source: TVE Business Plan]

Working closely with NXtInspect, TVE has recently relaunched its Nxt Asset. ID: 10848741160900045194.

What is Nxt building?

Nxt as platform. NXT as tokens of power, not coins. That’s what BCNext imagined when he created the Nxt genesis block back in November 2013, and that’s what he proposed the Nxt Community should follow up, in his plans 1-3. Because in Nxtville: The community decides. And the issue has led to heated discussions from the beginning. Nxt was released as a crypto currency, and many investors wanted it to stay just that. Like any other crypto 1.0 investment, but with killer features to take it to the moon.

Only problem? Nxt just isn’t that. Take it from the horse’s mouth:

BCNext (through Come-from-Beyond):

NXTs r not coins, at least the creator of Nxt didn’t want them to be coins. They r tokens that grant privileges to support Nxt. Deflation is not much better than inflation, “real” coins should be created on top of Nxt and be issued in quantities that keep their value constant. BCNext understands that this is very arguable, the community should decide if it wants to follow the path showed by him or stick to Bitcoin legacy with unchangeable supply of coins in hope to become rich by doing nothing.

But… “real coins in quantities that keep their value constant”? Oh my. What if a NxtCoin really isn’t a coin but a share in a platform which is capable of powering not just other coins, money transactions, smart contracts, asset exchange and now the latest Nxt release: A p2p Marketplace – what if NXTs are real tokens of power, about to renew, decentralize and revolutionize just about everything – even the internet itself? Wah! Not a coin?

But then what about the “mining”/forging part, you might ask, shaky hand hitting the iPad to have another quick look at coinmarketcap, to make sure that Nxt is still there. Well, if you’ve been complaining about the forging algo, that it’s paying you too little, and that the fees are too low to generate real profit, or that the whales are getting more because they own more Nxt…, read on.

BCNext (through Come-from-Beyond):

Selfish miners (those who mine only to earn fees) should be “removed” from the system, they r not interested in success of Nxt and only want to cash-out. (…) True reward for supporting Nxt network comes from services that use Nxt. Someone owns a currency exchange and mine blocks to keep his business running. Another one owns a shop and mine blocks to keep his business running. The 3rd person owns a software company that develops programs for Nxt-based services and mine blocks to keep his business running.

Gulp. Don’t be in it for the “mining” fees. Forge to support the network. Fees will be even lower when the price of Nxt goes higher. The community has decided that. The demand is there. We want our services to use Nxt, and the world too.

You can buy yourself a good read in our NXTER STORE. You can even buy a house with NXT.
But consider the above quote again. It may be time to wrap your head around Nxt.

A new series about 3rd party developers and Nxt businesses will start on nxter.org tomorrow.
It’s called: ON TOP OF NXT.

Stay tuned.


This article is also available in French.