“Comparative researches on Bitcoin and NEM and Ethereum” etc.
Notes of "Event of talking about a thing like a true motive of a block chain venture"
March 18 ohte-machi Finolab "The the other side of the block chain service development"
This is a notes of the "Event of talking about a thing like a true motive of a block chain venture" with which I participated the other day.
2.introduction of participants company
3.About the contents of the seminar
3.1 About the block chain
3.2 About the Smart contract
2.introduction of participants company
The Techbureau company is currently developing private block chain "mijin",
The company is now conducting demonstration experiments for mijin with various companies(Infoteria Corporation
SAKURA Internet Inc. Lock-on Bank).
The characteristic of the company is developing mijin by applying the public block chain called NEM.
These core developers are the same engineer.
As a result of demonstration experiments, mijin have processing power of 100tx/s 8,000,000tx/d.
This processing power can easily handle the volume of business of the local bank.
Also they carried out an experiment of hacking.
As a result, that proves Impersonation transaction can not be executed by a system stopping.
Apparently government of a country seems to have asked for construction of the system of the central bank for 500 million yen to techbureau.
Deals4 is Unification API platform, it easily connected in the account of the financial institution and the plural block chains(ethereum,Open Assets)
and the Database.
In other words, The Currencyport is a company developing system cooperation API to use advantage of existing system of the financial institution and block chain.
The block chain which they use does not have a limit.
They can coordination with various block chains(bit coin,ethereum,NEM,etc.).
Also They have the technique about the consecutive system of the private block chain and public block chain and they do the demonstration experiments of the smart contract.
This company provides wallet application called the indie square for coin users.
This application called Counterparty is using the mechanism of issues of original token with an bitcoin base.
In other words,Unless someone hacks Bitcoin and that's destroyed, the user can issue the original token which can't alter that dishonestly.
By riding together on the mechanism of bit coin for which it's difficult to alter dishonestly, for example it can be issued the original ticket, gift certificate, and the original premium card of the idol, etc.
For example AKB can issue limited 1,000 coin called AKB coin and it's possible to use a AKB coin as a live concert limitation ticket.(AKB is a Japanese idol group.)
Also as another example it can issue a promotion ticket to be usable only in a specific shop and specific area as an electronic gift certificate.
This company develops public block chain NEM and provides payment solution to the financial institution.
And it run "TEPS" providing the following service (Transaction Ecosystem Platform Solution).
・"ACES" Service to automate the payment and clearing on interbank.
・"BCAIB" Efficiency of the on-line banking and ATM service of the digital money with the block chain.
・"CDAPI" The service which can connect a payment system and POS of existence easily.
・"DIMONEX" Exchange for digital tokens such as Japanese yen, the dollar.
In other words, the service are similar to a currency port.This company provides automation and cost reduction service for the thing which entailed a vast cost so far (escrow business,etc.) by using block chain NEM and existing financial system.
Example of the escrow business:
In case of The transaction to which a dollar is sent from Mizuho Bank and The transaction to which a Japanese yen of the same value is sent from American bank, Those can't be finishing at the same time because of a problem of the time difference and the business hours.
When a one side sends money first, a loss occurs on the remittance side if a receiver become bankrupt.
Also because they cannot make a deal immediately, It have exchange rate fluctuation.
Therefore they entrust money to the third party called the clearing house once and when each other's remittances were completed, a clearing house remitted to both sides that until now.
In future when Mizuho Bank and an American bank signed the business engagements of the remittance,
The service where a remittance is carried out at the same time is provided by using a block chain and the smart contrast.
A clearing house becomes unnecessary by this.
3. Contents of the seminar
3.1 About a blocks chain
The block chain is a dispersed calculation engine; and an account book.
Processing speed becomes high-speed when company use a private block chain, but the audit becomes impossible.
If the public block chain is used, because the transaction is shown, audit becomes easy.
The currency port achieve a good balance between high-speed business and audit by connecting public to private.
The issue of token (currency) is carried out in public.
When a token was transferred to a private block chain, It is locked on the public side and cannot use it.
Preserve the resource base so that an administrator can't operate on the private side.
Difference between NEM and ethereum is
When using ethereum, It's necessary to write a program on the ethereum to issue a token by ethereum and It is necessary to build the smart contract from a base,
therefore more time is required in order to understand and implement it.
In case of NEM, Token issue is completed in around three hours to only set based on rule.
In other words, ethereum can put the application designed freely on it.However, a bug is easy to occur to produce programming.
The NEM facilitates token publication in the structure called the mosaic, and a bug does not happen in this layer.
This depends on difference in the thoughts of NEM and ethereum.
The Ethereum aims at building a system of newly various business on the huge platform of the block chain.
The NEM aims at putting an existing system and the advantage of the block chain together.
Similar opinion of the companies is It's the folly to destroy all financial systems of existence and when a programming becomes a lot after all, the bug occurs, so a bank doesn't have to use that, It's important to link an advantage of a system of existence with a block chain.
3.2 About smart contract
The block chain is weak in management of the complicated business and time.
Therefore it has a problem to perform a contract of the complicated business by smart contract.
At present, it is appropriate that the block chain is used for simple business such as the escrow business sending Japanese yen and the dollar.
As a result of demonstration experiments of the syndicated loan of currency port and Mizuho Bank, a problem of various block chains and smart contracts has been seen.
I think personally execution of adjustment business and Long-term complicated contract to each bank seems difficult.
It is a problem of the decision time of the business that a brokerage firm worried in a meeting with NIPPON GINKO.
By making distributed processing, it is an occurrence that seldom happens but each node may carry out business approval at the same time, one approval of dealings is canceled at this time.
But this hardly occurs when processed with a private block chain at high speed.
As for taking cost for this problem, I doubt.
Considering those, The companies consider that The management of a fund and the business with the block chain will spread from the company which is not a financial circles.
The article about this event is placed in BTCN too.