Friday, October 20, 2017

BLOCKCHAIN, SMART CONTRACTS , PART 4 - CAPT AJIT VADAKAYIL



THIS POST IS CONTINUED FROM PART 3 , BELOW---






Each and every criminal case could be logged and amended using blockchain technology.   When a record is legitimately updated, for example, changes are reflected automatically across multiple copies – in a matter of seconds

Blockchains are regulated by technical code which is programmed into the software itself. Whereas breach of legal or regulatory rules results only in the potential for some form of punishment to be dealt, breach of technical codes causes an error to be returned and no activity to occur.

Because the law can’t keep up with innovation.   To move forward, we must necessarily break the past.

The Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India (RBI), is developing a model platform for blockchain technology. 

They don’t have the cerebral wherewithal.


The Institute for Development & Research in Banking Technology (IDRBT) is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India (RBI) in 1996, the Institution works at the intersection of Banking and Technology.  It is located in Hyderabad, India.   

Since IDRBT has been set up, they have done FUCK ALL.



Below:   Because these CUNTS dont know shit--  

I am forced to pen this blog series.   I am  NOT enjoying this.


I penned a 33 part SHELL series -- Modi just stirs the pot .




The blockchain model promises us a future free from middlemen. Intuitively, we have always hated middlemen as they invariably increase transaction costs.  The biggest middlemen of this planet are the parasite white Jews who make money by doing NO work

Those who were happy working hard and paying taxes, would never want to deal in Bitcoin currency which is being used by criminals.     The growth of bitcoins invariably prove the criminal affinity of the human society and of the profiteering others who want to cash in on the growing value of it.

Hence, no government would ever want to officially recognise the bitcoin currency. The acceptance would directly mean that they are either ignorant of or totally fine with the huge criminal aspect bitcoins reveal everyday.   Unnecessarily, blood money gets equated to good hard-earned money. 

A notary ( not the shit ones we have now ) can verify and levy stamp duty on a smart contract on the blockchain network.

The justice system in India is ‘archaic and paper-based.’   These problems resulted in inefficient services and poor planning and even worse organization.  These judges are the slowest creature on earth, yet they give deadlines to everybody else.

These loser lawyers turned judges even gave a deadline to the elected executive INTERLINK all Indian river and kill Bharatmata


The combination of AI algorithm technology coupled with a distributed chain-locked book to replace antiquated criminal justice systems around the world could have great compassionate effect on human suffering and help alleviate the abominable injustices that exist in prisons in India.


Artificially intelligent ( AI ) blockchain lets joint parties collectively agree on the state of the device and make decisions on what to do based on language coded into a smart contract. 

Using blockchain tech, artificially intelligent software solutions are implemented autonomously. Risk management and self-diagnosis are other use cases being explored.

Artificial intelligence and blockchains are the 2 closed components of digital business. While Blockchains can help us verify, execute and record. AI helps in decision making, assessment, understanding and recognizing. 

While the machine learning methods that are a part of AI help us find opportunity and improve decision making, smart contracts and blockchains can automate verification of the transactional parts of the process.. 

The AI sub-field called “Artificial General Intelligence” (AGI) is most relevant as AGI can be modeled as a feedback control system.. AI is developed “by the people, for the people” in an inclusive sense. 

This leads to the concept of a decentralized, self-organizing AI economy — a network of AIs that exchange information and value among each other freely and rapidly, with participation open to anyone who creates an AI and inserts it into the network. 

Such a network also opens new frontiers in social good, via issuance of value tokens that specifically direct AI effort toward tasks democratically determined to provide broad social benefit. 


Until now, A.I. and blockchain have remained separate, however now they are joining forces to accelerate the development of robotic intelligence. 

Machine learning makes use of algorithms that learn how to perform tasks such as prediction or classification without explicitly being programmed to do so. In essence, the algorithms learn from data rather than being pre-specified.




Blockchain with AI is already being offered as a service by major cloud providers including IBM and Microsoft. In the future, almost every transaction could be running on blockchain technology.

Smart contracts help companies benefit from a more streamlined approach while creating unbreakable agreements--reducing the presence of costly KOSHER middlemen and legalese. 

A smart contract represents an impartial third party that is designed to advance both parties’ interests without the need for a broker. In Indian cities thousands of people earn a living by being brokers for flats. They collect their brokerage even when the 11 monthy renewal comes ( Mumbai ). 

If you dont pay a fixed percentage as bribe at land registry govt offices, you stand to lose your own land.. The document writer collects this money and everybody gets their share. This is a mafia system.

As a logic-based system, a smart contract is intended to cover every aspect of a transaction from start to finish. It could be imagined as a very elongated “if/then” function that covers every inevitability that could arise from an agreement. Once established, a smart contract governs every interaction between the two parties, automatically responding to inputs from either party and executing the agreement as programmed. 

The basic assumption of these blockchain mechanisms is that a large amount of nodes participate in the system, making it almost impossible for one to have the capability to control more than half of the nodes in the system.

In general, the more companies are involved in the network, the harder it is for one or a few to take over the blockchain system.

In reality, however, and especially in the adoption stage of a new technology, it is difficult to motivate a large number of enterprises to participate. Therefore, blockchain is more likely to be deployed and used among a limited number of pilot entities, which could collude to create fraudulent transactions. The kosher underworld is already drooling over this .

To mitigate the collusion risk, different priorities could be granted to different parties for transaction verification based upon their roles. For example, a bank could have the priority to verify a cash transaction, or regulators or auditors could be given the authority to hold a transaction with high risk of fraud before it is confirmed.

Blockchain provides the potential opportunity to prevent fraud in advance or detect fraud shortly after it occurs. By bringing various outside parties, such as business partners, creditors, and investors, into the loop, blockchain could enable a real-time alerting schema for fraud prevention. 

It must be noted that the process of mapping the double-entry accounting system onto a blockchain infrastructure, and using it to deter corporate frauds, is still in its infancy.


INDIA MUST NOT JUMP OFF THE DEEP END WITHOUT EXTENSIVE VERIFICATION.    

TELUGU CM CHANDRA BABU NAIDU IS ALREADY PALPITATING—  

HE WANTS ANDHRA TO BE THE FIRST TO ADOPT BLOCKCHAIN-ULU ( OR IS IT BLOCKCHAIN-UDU ?) AND ENGRAVE HIS OWN NAME ON THE ROCK OF POSTERITY 



Despite the AML controls that must be complied with and exemplary punishments, global money laundering flows are estimated to be as high as 6% of the world’s GDP –  over $2.2  trillion.


Currently, banks spend about US$11 billion per year on AML ( anti-money-laundering )   measures, yet money laundering continues to take place on a vast scale. The goal of laundering money is to “wash” illegally obtained money (e.g. through corruption) into “clean” money, making the origins of the money untraceable.

Blockchain technologies have five features that could make AML efforts both more effective and less costly:----
Consensus: Due to blockchain’s distributed ledger technology, everyone (or at least everyone involved) is able to see the same information on a transaction instantly. Rather than having databases that communicate with each other and update individually, blockchain updates happen simultaneously. In other words, banks can be sure that “I see what you see,” “I know that you know that I know,” and so on. This is essential for trust and has the potential to cut out the middlemen in transactions.
Validity: Blockchain technology provides certainty that every update in the system is valid, because the technology ensures that there is a common agreement on the rules of transactions. This makes it harder to game the system, for example by claiming database errors.
Uniqueness: It is impossible to create two conflicting entries into a blockchain system, making it impossible to pretend to source the money legally while actually sourcing it illegally.
Immutability: Because blockchain records are distributed over the whole network in a distributed ledger system, rather than a central database, blockchain transactions that were recorded are practically “immutable.” The data of past transactions cannot be changed, but only updated, and the data on previous transactions remains permanently available. Thus, once the data of a transaction have been recorded (including the previous owner of money, the new owner, and the basis for the transaction), these data are not falsifiable.
Authentication: Every transaction is associated with at least two private keys, while the concept of a “master key” is not part of a blockchain. This is very different from current database systems where an administrator or “super-user” could alter the database single-handedly, which is clearly risky from a security perspective.


In sum, transferring money with blockchain technology makes it possible to trace the historic and current ownership of every penny in the system. 

It is akin to being able to look at the serial number on every dollar bill and identify every person who has ever held that dollar, as well as when, where and why it changed hands.

The most pressing challenge to move forward with blockchain technology in the financial industry – as noted by regulators and banks alike – is the standardization of the blockchain protocol. 

Currently, there are multiple cryptocurrencies, blockchain networks, and protocols available, with hundreds of financial technology players fragmenting the market. 

Without standardization, most benefits of blockchain will be unachievable, as the different networks will not be able to communicate with each other simultaneously. 

Also, without a sound understanding of the technology, it will be hard for users – both in the public and the professional sphere – to find trust in the technology. And trust is the most crucial element for financial transactions.


Blockchain  integrates “legal prose” in agreement to allow for disputes to be resolved transparently and quickly;  It allows business logic to be written into the existing code.

Blockchain could make it possible to view a customer's payment history in real time and thus judge eligibility for loans.

Blockchain  can help in social welfare objectives by eliminating the need for credit cards or bank accounts to disburse funds to those who are unbanked.


Building proper oracles to ensure execution of smart contracts is crucial.  All cryptographic key material must be properly stored and handled.  

The entire blockchain security rests on the assumption that cryptographic keys will be secured properly.  Since most consensus algorithms are latency sensitive, it is also very important to have the most stable and lowest latency network connections possible. 

If network interference increases latency, the maximum transaction throughput drops.  One potential denial of service is to prevent consensus from occurring by disrupting the lines of communication. 

With blockchains, extra care of network connections is needed or things go PHUTTT .


For blockchain technology to reach its full potential, it must  exceed—accepted security standards. Currently, many security-conscious institutions rely on hardware security modules (HSMs) to safeguard and manage their digital keys, protecting potential access points in virtually any application that requires secure, verified digital signatures.

A hardware security module (HSM) is a physical computing device that safeguards and manages digital keys for strong authentication and provides cryptoprocessing. 

These modules traditionally come in the form of a plug-in card or an external device that attaches directly to a computer or network server.

 HSMs housed in bank data centers verify PIN numbers every time a customer withdraws cash from an ATM and validate transaction cryptograms when customers purchase goods at a merchant POS terminal. 

In both cases, only the HSMs under a bank’s control have access to the correct keys to perform the secure processing. Leaving cryptographic keys in software sitting on a computer is the equivalent of leaving your house keys under the door mat. 

An HSM is a cryptoprocessor that securely generates, protects, and stores keys.

The keys always live inside the secure, certified HSM boundary, rather than in software or on a hard drive, where they are vulnerable to attacks.HSMs use a certified, cryptographically secure random number generator to create keys that are of superior quality to those generated by a typical computer system

There are two main concerns that surround the technology; one is scalability and the other is security. 


The security issue comes into play because in certain blockchain implementation, such as financial services use cases, digital wallets will be required. The digital wallet technology has not always been well protected and there have been instances where it has been hacked.


First created for use with Bitcoin, the most popular cryptocurrency, blockchain is a distributed-trust public ledger system.  Blockchain depends on volunteer users or “nodes” to track, verify, and add transactions to a continuously updated ledger using encryption.  

Within cryptocurrencies, blockchains are maintained by nodes within the P2P blockchain network who use their own hardware resources to perform a process known as “mining”.  Mining is the process of verifying transactions and adding them to the blockchain using encryption.

Blockchain provides an inexpensive and efficient way to record data by mass collaboration among users on a network. With all the peers on a network working in concert to verify and add data using encryption to a continuous data record or chain, the result is a fully trusted data source that is easy to maintain and unalterable.

As the nodes approve transactions, they are grouped together into blocks and added to the chain. Every block is coded with a specific cryptographic hash that subsequent blocks on the chain will share, which ensures the blocks will remain linked.  

In addition to the hashes, Blockchain relies on cryptography and public key infrastructure to function.  All data entered into the chain is encrypted, and every user on the network is assigned their own private key. Though the blockchain is publicly available, it is protected with encryption throughout the process.

Blockchain is built upon the principles of collective interest and mutual trust. Every user has access to the most recent version of the blockchain. Once a node completes a new block, it is added to the chain and the updated version of the blockchain is broadcasted to all other nodes. 

There is no official version of the blockchain and no one version is more trusted than another. In addition to speed and efficiency, the decentralized structure of blockchain creates a difficult target for hackers. With no centralized structure, there is no primary target or single point of failure for attackers to exploit.

There is an old adage in computer science that goes: even if we design and build the perfect computer system, if you put garbage into it, you will get garbage out.  Blockchains don’t change that at all.   

People and computer-human interfaces are still the dominant factor in the overall security of a blockchain network. It all boils down to the fact that blockchains are distributed systems made up of computers that need to be secured by humans.  

With permissioned blockchains, humans are responsible for managing the membership of users and their capabilities.  They are also responsible for deploying the chaincode/smart contracts and also manage the cryptographic key material.  

The cryptography and algorithmic design of blockchains is sound and if something goes wrong it is most likely because some HUMAN  made a mistake ( DELIBERATELY )

The blockchain API performs the initial validation of the transaction and verifies that the proper credentials have been presented by the transaction proposer.  The transaction then gets forwarded to a peer for validation and endorsement.   To continue the analogy, think of the blockchain peer as being like the web application server, because it also handles executing smart contracts.  

Once the transaction is endorsed and the smart contract executed, the transaction moves on to being ordered and recorded in the next block in the blockchain.  That is very similar to how web application state is recorded in a back-end database cluster.

The point of this analogy is to show that blockchains don’t have drastically different security requirements.  The one area that does require some extra attention is around the protection of the cryptographic key materials.  

Special care must also be taken to ensure that the consensus part of the distributed ledger operates on network connections with the lowest latency and highest quality of service as possible.  

This is because many of the consensus algorithms are latency sensitive and the upper bound on their transaction rate is tied to the overall system latency.

We will never drive criminals entirely off the blockchain,.  But we can explore innovations that would make the blockchain safer for legitimate commerce but inhospitable for bad actors, and that would allow law enforcement to focus its resources just on those parts of the network where criminals are able to operate despite our best efforts.

We all have a shared interest in making sure that those who seek to use the blockchain for criminal purposes do think twice.  

WAIVING FARMER LOANS HAS NOW BECOME A VOTE MILKING MACHINE

Farm loan waivers across states could hurt the finances of states and make them throw good money after bad, and stoke inflation.  Debt waiver packages, even if limited to a few states, will likely prove to be counter-productive and offer little gains to farmers over the long run.

MPs AND MLAs WANT TO GET REELECTED

 YOUNG J SCINDIA CALLS FARMERS “ANNA DHATA “ WHILE HE SPEAKS IN LOK SABHA—LIKE A BHARATNATYAM DANCER USING HIS TENDER HANDS AND BODY SWAYS

SORRY-   ANNA DHATA IS GOD.    A LOT OF OUR FARMERS ARE DESH DROHI MAOISTS AND NAXALS


Three major states—Uttar Pradesh (UP), Punjab and Maharashtra—have announced large-scale farm debt waivers.   

The debt waiver packages of UP and Punjab were aimed to fulfil poll promises made by the Bharatiya Janata Party (BJP) and the Congress party, respectively, in these two states. The cumulative debt relief announced by the three states amounts to around  Rs77,500 crore or 0.6% of India’s 2016-17 GDP.

WE DEMAND THAT FARMER LOANS AND FLOOD RELIEFS SHOULD NOW BE ON BLOCKCHAIN

EVERY YEARS THE SAME PEOPLE CLAIM FLOOD RELIEF .. THEY HAVE TWO HOMES—ONE IN A FLOOD PRONE AREA BUILT ON GOVT LAND ( A SHED WITHOUT VALUABLE  )


Blockchain can be used to "reduce fraud, corruption, error and the cost of paper-intensive processes. UK government has used blockchain to disburse student loan grants and track welfare checks.

British welfare claimants use an app to receive and spend their welfare checks. This enables the government to track the claimants' spending digitally. 






Below: Foreign funded NGO controlled farmer agitation



LOANS AND WAIVERS  MUST BE TIED TO AADHAR

IN INDIA LTTE TERRORISTS TOOK LOANS FROM I GOVT BANKS TO FUND THEIR MOVEMENT

A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. A credit score is primarily based on a credit report information typically sourced from credit bureaus.

Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt. 

Lenders use credit scores to determine who qualifies for a loan, at what interest rate, and what credit limits. Lenders also use credit scores to determine which customers are likely to bring in the most revenue. 

The use of credit or identity scoring prior to authorizing access or granting credit is an implementation of a trusted system.

A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government), predicting their ability to pay back the debt, and an implicit forecast of the likelihood of the debtor defaulting.  

The credit rating represents an evaluation of a credit rating agency of the qualitative and quantitative information for the prospective debtor, including information provided by the prospective debtor and other non-public information obtained by the credit rating agency's analysts.

A credit history is a record of a borrower's responsible repayment of debts.   A credit report is a record of the borrower's credit history from a number of sources, including banks, credit card companies, collection agencies, and governments.   

A borrower's credit score is the result of a mathematical algorithm applied to a credit report and other sources of information to predict future delinquency.

In many countries, when a customer fills out an application for credit from a bank, credit card company, or a store, their information is forwarded to a credit bureau. The credit bureau matches the name, address and other identifying information on the credit applicant with information retained by the bureau in its files.

 The gathered records are then used by lenders to determine an individual's credit worthiness; that is, determining an individual's ability and track record of repaying a debt. The willingness to repay a debt is indicated by how timely past payments have been made to other lenders. 

Lenders like to see consumer debt obligations paid regularly and on time, and therefore focus particularly on missed payments and may not, for example, consider an overpayment as an offset for a missed payment. 

To establish a real decentralized lending system on the Blockchain, that for now consists only of pseudo-anonymous users, we need to introduce a fully Decentralized Credit Rating (DCR) system, that obtains it’s data from the Blockchain directly. 

This way, the risk profile related to collateral free lending might become tangible, since addresses will have reputation, as we have it with centralized credit scores.

In the west many startups have blockchain-based initiative to build a decentralized credit platform.

These startups are NOT lenders, but rather, a platform to facilitate lending between lenders and borrowers. 

In the wake of the Equifax hack, which exposed the private information of more than 140 million people, we’ve all become painfully aware of the flaws and limitations of today’s credit system 






Even today, there are two billion people in the world (including 40 million Americans), who cannot access credit and remain “trapped” for reasons out of their control — the systematic under-banking of certain regions, lack of family credit history, or even algorithmic discrimination. 

This could be a true opportunity to demonstrate the value of decentralization — the first real “killer app” for the blockchain.

Smart contracts and the blockchain makes this process easier

The Blockchain is a global, open and in real time available ledger of financial transactions, that can be analysed using automated algorithms and prediction markets.   Credit scoring will now call the shots.

As the Equifax data breach shows, no one’s credit information is secure. It’s estimated that 143 million Americans and as many as 400,000 Brits may have been affected by the breach. 

Since the breach has been reported, there has been a run on credit monitoring products. And none of the credit bureaus can guarantee that hackers won’t gain access to their data. In fact, its getting increasingly more difficult for any company using the Web for database storage to insure the data they keep is 100% secure.

Using the Global Credit Profile, users will be able to:--

Monitor and control their own financial data in real time
Dispute errors and omissions
Link credit accounts so that more data is included in their profile
Port their data anywhere they want to globally to ensure they have access to the best credit products in any country they live or travel to
Control who gains access to the data and get paid for that access

A Global Credit Profile will work by leveraging the inherent decentralization of the blockchain as a distributed ledger allowing each credit transaction to be approved using the same or similar processes used to record cryptocurrency transactions in real time today. 

Any information currently collected by the credit bureaus can be kept in a consumer’s self-controlled file including rent and mortgage payments, utility bill payments, lines of credit, and more. Plus, the credit profile can include social data gathered from user’s social media accounts.

Each user gets an IP address and a key to enable the application. The user can access all of their financial information in one location.

Alternative data will become the norm in credit profiling in the future. That will include machine learning algorithms, social data, and utility payments for many of the world’s unbanked and underbanked

The Internet is a centralized system involving many actors, with no unified consensus mechanism. As a result, there are many different systems and components that do not communicate.

The basic structure of the blockchain is its address or public key: the very mechanism that allows users to transfer funds and work with digital agreements called smart contracts. 

Similarly, the Internet runs on a server with a public IP address. Since no public information about this address exists, it is merely a point to which one can connect and execute certain actions.

The main area in which blockchain and the Internet differ is in the number of services they require to operate. For instance, a web site needs a domain name, which is then assigned to the DNS and indexed in a search engine; an SSL certificate for the security of users; and functional content that is used directly.

On the blockchain, any person or company with a profile rating reflecting some digital essence of trust, including the history of the transactions of the user — similar to a Google search history log

Each profile, as a smart contract, will be able to contain all user information in one economic unit, make deals with other profiles, arbitrage and be arbitraged, and most importantly, connect to different rating networks. 

Rating networks will be a blockchain representation of an organization unit where we have some score based on different factors, including job and academic performance.

Simply put, all users in the network will be able to see how successful you are.
Blockchain is in its early stages of development. As much as it’s been compared to the Internet, one of its primary advantages is that it represents an opportunity to start from scratch: to design anything we want and develop our own standards. 

By letting users work on their profiles within the blockchain network, it gives them the chance to create a full-fledged economic unit, or “digital passport.” Each user, whether this is a company or an individual, will now be able to carry out transactions between other individuals.

In addition, the rating and history of their profile will be much more informative and more trusted, but also immutable. This final rating will be more reliable than a work reference, tax filing, or credit history, chiefly because it will be impossible to forge. 

This will offer new projects the ability to forge the path of their own destiny in the age of the digital economy.


While the advent of the Internet offered the possibility of increased connectivity, blockchain has the potential to take this to the next step by providing the world with a way to become fully digital. 

When transactions and marketplaces have become completely digitized, the creation of fully decentralized and trustless societies becomes a very real possibility.



ILLEGAL IMMIGRATION CAN BE CONTROLLED BY BLOCKCHAIN

Finland has said it has “solved” the problem of refugee identity, using the Blockchain to record data of new residents. 

Finland is providing arrivals with a prepaid debit card instead of cash, and linking the identity of cardholders to the Blockchain.  

In issuing them, Finnish authorities are able to track both spending and identity with the added benefit that the Blockchain data is immutable.

Finland wants immigration. Their men are unable to get their pricks up and women want  tight twat to keep their sexual market value high.  Let truth be told 

Population is dwindling.    Immigration is an increasingly important driver of population growth in Finland.


Immigration accounted for 81 % of the population growth as the number of births have been decreasing  year after year

Blockchain, a technology that has more compute power behind it on a decentralized basis than any open source project in history, could fundamentally reinvent the banking system.   Very few bankers understand it.

First, there was the view that bitcoin is purely for payments. No. Bitcoin, the protocol, and other cryptocurrencies are for the recording of digital value exchanges that can take any form from a payment to a marriage vow. 

Bitcoin blockchain is of interest, but not the currency.

In simple words, Blockchain is nothing but an open, anonymous, permanent online ledger connected to a centralized network. It uses a new data structure to simplify the process and eliminate the need for third parties. 

Hence, it brings down that erstwhile dependence on people for verification of transactions. Being a distributed database, Blockchain captures inputs and places them into a block and then each block is connected or ‘chain’-ed to the next block through a cryptographic signature. 

It is a ledger that is easy to make, is open and accessible by anyone as long as permissions are set. Blockchain, as a continuously growing list of records i.e. blocks, that are linked and secured using cryptography, allow an application developer to create a distributed database that can be read by anyone, but can only be written to by consensus.

It’s anonymous, so it can protect the identities of users and allow entities and people to carry out transactions at never-before levels of privacy, security and non-intrusion.

It’s permanent and digital, so that translates into putting in any number of transactions and records and chronicling them so well that the whole thread or equation accomplishes degrees of transparency and credibility that even the best of regulators can still merely dream of.

It’s open, distributed and can also be programmed so transactions can be triggered automatically, contracts can become set in digital code and safe from tampering or deletion ever. Every agreement between parties can, easily and non-physically, get converted into a digital record – properly identified, validated, stored, and shared. This wipes away the role, effort and expense of intermediaries, brokers, as algorithms enable fast and free interactions devoid of previous friction and oversight.

So yes, this is possible – two entities may not know each other and still agree and assign verity to something without the presence or involvement of a third party. Blockchains can also function as  ‘permissioned’ ledgers so that everyone in the process is pre-selected, or as ‘unpermissioned’ ones that are open to all.

They can be used as a single source of information and hence, for money transfers, record keeping and other back-end functions being the easy, digital, open, decentralised ledgers they are. For instance, most Banks need to maintain reserves with multiple counterparties at once and it would help immensely if they can settle transactions point-to-point as a straight-through process. This will mean a world that is easier, cheaper, and faster for banks and customers alike since the complex, superfluous and expensive list-keeping can finally be done away with. Now direct transactions are possible – immediate and irrevocable ones at that. So real-time settlements can finally happen. Also holding accounts with correspondent banks and managing lifting fees can now be a thing of the past

The quality and speed of data becomes so high, consistent, precise and so real-time that new revenue streams can also be tapped while offering customers seamless and actually-nimble experiences. Plus, their special quality of being non-alterable, as immutable ledgers in real time, can help to track documentation and authenticate ownership of assets digitally. Business models like asset servicing, and smart contracts can flourish amazingly for many banks easily.

They can reduce human intervention and make it possible for banks to execute and verify transactions with improved accuracy and efficiency.

Since transactions are continuously kept as ‘blocks’ of records, they are secure, scalable and durable- also making the entire process far simpler and fluid than it ever was. They do not just cut paper and costs but also revitalize the ingredient of trust that is quintessential in financial information.

Disintermediation takes off both the risk and expense of counterparties and enables more empowerment for users to control their information.

Possibility of failure or intrusion is almost negligible with these ledgers and hence process integrity as well as transparency goes to a new realm here. These are almost immutable and hence find ready use in areas like exchanges, smart contracts and Payments.

Financial entities can reap many more rewards whenthe clutter and complications of multiple ledgers is taken off and lower transaction costs can be tapped successfully. Endless days for clearing and final settlement can now be a thing of the past as transaction times become real-time and available all the time. 


For banks where keeping records of transactions made a major part of function and reconciling transactions across individual and private ledgers took so much time, paper and error – a Blockchain is almost a boon.








In computer programming, an application programming interface (API) is a set of subroutine definitions, protocols, and tools for building application software. In general terms, it is a set of clearly defined methods of communication between various software components. 

A good API makes it easier to develop a computer program by providing all the building blocks, which are then put together by the programmer.

 An API may be for a web-based system, operating system, database system, computer hardware or software library. 

An API specification can take many forms, but often includes specifications for routines, data structures, object classes, variables or remote calls.

Mastercard is to open up access to its inhouse blockchain technology platform via an API which will be made available to developers at banks and retailers.


Smart contracts can interact with data living in the blockchain but it is impossible to get informations from the web. Using Oraclize, we’ll see how your smart contracts can get data from outside the blockchain and execute any API call.






Blockchain is updated via a Consensus protocol. It ensures an unambiguous ordering and validation of transactions and guarantees the integrity and consistency of the Blockchain across geographically distributed nodes. Some Consensus protocols are decentralized/permissionless, and some are permissioned






Blockchain  is made up of three technologies – cryptographic algorithms, a distributed protocol, and replicated data – which combined provide a trustworthy service to a group of nodes that do not fully trust each other. With blockchain, several users can write entries into a block or a record of information, and a community can control how the record of information is modified and updated.

There are two types: public and permissioned. In a public blockchain, such as Bitcoin or Ethereum, anyone can join or run a node and anyone can participate in the consensus process for determining what’s called the ‘valid’ state. In contrast, a permissioned blockchain is operated by known entities, such as consortium blockchains, where a specific group of stakeholders in a given context run a permissioned blockchain network

Permissioned blockchain systems have the means to identify the nodes that can control and update the shared state of a ledger, and often also have ways to control who can issue transactions.

A consensus protocol ensures that the involved nodes agree on a unique order in which entries to the ledger are appended. Currently, many new features and completely new blockchain protocols for distributed ledgers are emerging, mainly within the fintech and startup scene.


Most of these proposals come without a clearly stated trust assumption or a solid security model, despite the bold claims being made. Moreover, there is no agreed consensus in the industry on which assumptions are realistic for an intended application, nor is there an accepted standard for the validation for protocols


I RECKON I AM GETTING TOO TECHNICAL.



OK, I WILL SCALE BACK FOR THE LOWEST COMMON DENOMINATOR
































SOMEONE ASKED ME

IF THE TOP GUN OF THE SHIPPING COMPANY ASKS YOU AS CAPTAIN TO WRITE ENGINEERING TRAINING STUFF --

THEN THERE MUST BE A REASON WHY THEY TRUST YOU SO MUCH-- OVER THE HUNDREDS OF CHIEF ENGINEERS ( ASHORE AND AFLOAT ) IN THE COMPANY

INDEED

SEE-- WHAT I AM ABOUT TO DISCLOSE , I AM BEING FORCED TO NOW

BE PREPARED FOR AN A ABSOLUTE SHOCKER -- THOUSANDS OF ENGINEERS READ MY BLOGS
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I HAVE NOT YET SEEN AN ENGINEER WHO CAN START A ENCLOSED LIFEBOAT ENGINE-- THIS IS THE PITS-- I HAVE BEEN CAPTAIN FOR 30 YEARS

IN THE POST BELOW-- I QUOTE A REAL MESSSAGE TO MY COMPANY-- WHERE I SAY THE PASS PERCENTAGE IS CLASSIFIED.

THE TRUTH IS ZERO PERCENTAGE

http://ajitvadakayil.blogspot.in/2011/07/naive-sailor-starting-life-boat-engine.html

THIS IS LIKE YOU NOT KNOWING HOW TO START YOUR OWN CAR

YOU START THE CAR ENGINE WITH THE GEAR ENGAGED AND THE CAR JUMPS AS SOON AS YOU TURN THE ENGINE WITH THE BATTERY –BECAUSE YOU ARE A CUNT . IN THE WATER PROPELLER SLIPS—SO THE BOAT JUST NOT JUMP LIKE A FROG . BUT THE BATTERY DRAINS OUT .

I HAVE ADMINISTERED THE FAMOUUS VADAKAYIL KALARI TAP ON THE NOSE ( BEHIND CLOSED DOORS ) WHERE BLOOD POURS OUT LIKE A FAUCET-- WHEN DESPITE PROPER TRAINING AND BRIEFING MY ME-- THE SENIOR OFFICER/ ENGINEER IN THE LIFEBOAT SCREWED IT UP , NEARLY CAUSING LOSS OF LIFE

ONCE MY SHIP WAS FULLY LOADED WITH PETROL FROM EUROPE.

I HAD TO UNLOAD IT AT HOLYROOD NEW FOUNDLAND

THE WHOLE BAY WAS FROZEN THICK WITH ICE AND PACKED HUGE BERGY BITS FLOATING IN BY SOUTHERLY LABRADOR CURRENT –THE HOLYROOD BAY IS LIKE THE OPEN MOUTH OF A CROCODILE.

https://www.tide-forecast.com/locations/Holyrood-Newfoundland

MY SHIP WAS NON ICE CLASS AND I WENT TO THE ENTRANCE - -GOT TO SEE THE PACK ICE LADEN BAY ON TV LIVE-- WHERE A LOCAL CROSS BAY ICE CLASS FERRY WAS STUCK FOR DAYS .

THEN I WENT TO A NEARLY PROTECTED BAY NAMED "COME BY CHANGE " ON THE OTHER SIDE AND ANCHORED THERE UNANNOUNCED --SO THAT I CAN WATCH LOCAL HOLYROOD TV

https://www.gorgeousgirl.org/single-post/2016/05/17/Newfoundland-1

ALL THREATENED TO BITE MY HEAD OFF -- I SAID "FUCK OFF"

AT THIS ANCHORAGE I WAS THERE FOR TWO WEEKS -- WITH ALL AND SUNDRY , INCLUDING ECAREG AND CANADA COAST GUARD THREATENDEDNEDNEDING TO BITE MY HEAD OFF EVERY 3 HOURS -- AND EVEN LOSS OF CANADIAN VISA FOR LIFE. ( NO THEY DID NOT THRETEN TO THROW ACID ON MY FACE LIKE THE IRANIANS )

ECAREG means the Eastern Canada Vessel Traffic Services Zone and they are in charge of safety of ships in ice and ice reports

After ten days ( this is HUGE loss of money ) ECAREG and CANADIAN COAST GUARD joined hands and said-- it is now safe to come into Holyrood. We have decidETH.

I REPLIED-- INDEED , BUT I NEED TO MAKE SURE THAT AFTER UNLOADING MY SHIP CAN COME OUT TOO-- AS MY SHIP WILL BE ON LIGHT DRAFT EXPOSING MY SHIPS PROPELLER

I WAS AN EXPERT IN ICE NAVIGATION IN CANADA AND NEW FOUNDLAND --ON SHIPS NOT STRENGTHENED FOR ICE .. HAD DONE MIRACLES IN THE PAST

IN THE POST BELOW I TALK ABOUT MY NEWLY MARRIED WIFE ASKING ME HOW I EARN MY WAGES--AS I DO NOTHING ON BOARD --ALL I DO IS SLEEP, DRINK BEER, PLAY TEEN PATTHI / TT ETC, WATCH MOVIES , HAVE APRTY, ATTEND BULLSHIT SESSSION ETC

http://ajitvadakayil.blogspot.in/2011/01/freezing-weather-precautions-on.html

DURING THIS STAY ON THE 8TH DAY I LOWERED MY LIFEBOAT AT "COME BY CHANCE"- A DRILL

CONTINUED TO 2-




  1. CONTINUED FROM 1-

    BEFORE LOWERING THE LIFEBOAT I CALLED A CREW MUSTER AND TRAINED MY CHIEF OFFICER AND SECOND ENGINEER HOW TO START THE LIFEBOAT ENGINE

    AS USUAL THEY FUCKED IT UP

    THERE WAS A CURRENT AND THE BOAT STARTED DRIFTING-- THE WATERS WERE FREEZING BUT PLACID

    SUDDENLY FOG THREATENED TO SWAMP THE AREA. WHEN THIS HAPPENS THE FOG LIFTS AFTER MANY DAYS-- MAYBE THREE DAYS OR EVEN A WEEK

    I HAD TO WAKE UP THE SECOND MATE AND LOWER THE OTHER LIFEBOAT TO TOW THE DRIFTING BOAT BACK , AS THERE WAS STRONG CURRENTS AND YOU CANT ROW AN ENCLOSED LIFEBOARD AGAINST A STRONG TIDAL CURENT –

    WITH ALMOST ALL MY CREW IN TE BOATS --I HAD A SKELETON CREW ON BOARD

    WELL WE TOWED BACK THE DRIFTING BOAT -- WITHING 5 MINUTES OF SECURING THE BOATD, DENSE FOG ENGULFED THE SHIP AND IT LIFTED ONLY AFTER THREE DAYS.

    IF MY RESCUE ATTEMPT WAS NOT SUCCESSFUL ALL MY OFFICERS AND CREW IN THE DRIFTING BOAT WOULD HAVE BEEN FORZEN TO DEATH—A VERY PAINFUL DEATH

    AS SOON AN BOTH LIFEBOATS CREW WERE MUSTERED ON BRIDGE ( WITH ENTIRE CREW / OFFICERS ) I SLAPPED MY THREE STRIPERS IN THE BOAT WHICH WENT ADRIFT.

    THERE WAS NO DRAWING BLOOD- BUT THE ENTIRE CREW SAW WITNESSED THE TIGHT SLAPS ON THE FACE , WITH CHIEF ENGINEER IMPLORING "CAPTAIN DONT SLAP OUR SENIOR OFFICERS"

    THIS IS WHY I DONT WRITE MY BOOK "GAMES CAPTAIN PLAYED "--THIS IS JUST ONE INCIDENT AMONG HUNDREDS.

    TO CUT A LONG STORT , THERE WAS A MASSIVE SHOWDOWN AFTER 2 WEEKS --WHEN THE CANADIANS HOLYROOD PORT CONTROL, THE CHARTERERS, THE SHIPPERS , THE CONSIGNEES, MY OWN BOSSES, MY OWNERS , ECAREG, COASTGUARD --AL JOINED HANDS AND HISSED AT ME "CAPTAIN, WHEN DO YO THING YOU WILL ENTER HOLYROOD ?"

    I SAID "I DONT KNOW"

    THEN THEY SEND ME TO A CANADIAN PORT ST JOHNS IN THE MAIN LAND.-- TWO WEEKS OF HIRE WERE LOST-- BUT THEN "CAPTAIN WAS RIGHT" .

    CAPTAIN HAS A SPINE ( UNLIKE MODI )

    I SEND A STINKER TO ECAREG AND CANADIAN COAST GUARD - -COPIED TO ALL--  YOU BASTARDS ARE INTERESTED ONLY IN FOSTERING CANADIAN TRADE. LET US NOT FOOL EACH OTHER --YOU DO NOT EXIST FOR "SAFETY OF LIEF AT SEA"

    THIS IS WHY I TELL MY FAWNING OFFICERS " I AM A POOR ROLE MODEL ". IF YOU HAVE TO EMULATE ME-- BE THE BEST IN THE PROFESSION .

    capt ajit vadakayil
    ..








THIS BLOGSITE ASKS MY OVERSEAS READERS --SPREAD THE WORD

WHEN YOU INVEST IN INDIA-- 

YOU MUST NOTE THAT PM MODI MAY NOT BE THE PM OF INDIA IN 2019

WE HAVE A NEW EMERGING NATIONAL LEADER NAMED YOGI ADITYANATH , THE CM OF INDIAs LARGEST STATE UTTAR PRADESH

MODI AND HIS MINION "EGO MASSAGE " TEAM -- HAS NOT CARED FOR INDIA-- THEY CARE ABOUT THEMSELVES

INVEST IN INDIA-- 


AVOID MODI WHO HAS NOT DELIVERED ON HIS PROMISES TO HINDUS 



GO DIRECT TO YOGI , THE UNDISPUTED HINDU LEADER -- A MAN WHO CAN TAKE DECISIONS --NOT JUST STIR THE POT ENDLESSLY TO MILK VOTES

YOGI WILL HEAL BHARATMATAs FESTERED SOUL 
WE HINDUS ARE DISAPPOINTED THAT MODIs TERM IS NEARLY OVER , HE HAS DONE NOTHING FOR KASHMIRI PANDITS

NOT A SINGLE BIG FISH CRIMINAL IS IN JAIL .  OUR WOMEN ARE BEING CONVERTED TO WHORES 

WE WANT DEEDS NOT WORDS

PU THIS COMMENT IN PMO, PM MODI, CM YOGI ADITYANATHs WEBSITES 

SPREAD ON SOCIAL MEDIA ..

capt ajit vadakayil
..


Sad to hear this Captain! Deep within I am wishing that PM Modi gets your message and act soon. Many of us have believed and still believe him as a great leader and I want him to give a start for our country to become a superpower. However there are many issues and you have deeper and greater perception. Hoping for the best.


  1. MODI HAD HIS CHANCE

    MODI COULD NOT SEE BEYOND THAT GUJARATI JAIN FELLOW AMIT SHAH AND VOTES


LET US DANCE FOR MODI -- KO KO KOVINDAAAAAA



SOMEBODY HAS BEEN REGULARLY ASKING ME ABOUT KRISHNA LIFTING GOVARDHAN MOUNTAIN

LISTEN-

WE ARE ALL DEGRADED MACHINES-- WITH 2 STRAND DNA , 97% JUNK

YET SEE EDDIE HALL LIFTING HALF A TON

https://www.youtube.com/watch?v=T9Y4o_BqC0A

OUR MAHARISHIS WERE 12 STRAND DNA, NIL JUNK

VISHNU AVATAR MORTAL GODS PARASHURAMA / RAMA/ KRISHNA/ AYYAPPA WERE 13 STRAND DNA AND MORE

SUCH SUPERMEN ARE BORN ONLY IN INDIA

MOKSHA TO SEVENTH ASTRAL LAYER CAN HAPPEN ONLY FROM THE HOLY LAND OF INDIA

WHEN A DEPRESSED ARJUNA WAS REFUSING TO FIGHT HIS RESPECTED ELDERS AND GURUS BEFORE THE WAR AT THE BATTLE GROUND OF KURUSKHETRA DESPITE THE SERMON ( MENTIONED IN BHAGAWAD GITA ) --


--KRISHNA GOT EXASPERATED AND TOOK ON HIS VIRAAT ROOP-- HE PROJECTED HIMSELF TO A GIANT HOLOGRAPHICALLY.    ONLY THEN ARJUNA GOT THE CONFIDENCE THAT HIS CHARIOTEER ALONE WAS A BETTER BET THAN THE NARAYANI SENA ( GRABBED BY DURYODHANA )
https://www.youtube.com/watch?v=anHasqFguCM

VISHNU AVATARS HAD NO NEED FOR COMPUTERS / CHIPS AND ELECTRONICS. THEY OWN BODIES WERE BETTER . 

WE IN INDIA HAVE NCERT BOOKS WHICH STILL TEACH US DARWINS MONKEY TO MAN EVOLUTION IN THIS DNA AGE . 

OUR EDUCATION AND I&B MINISTERS ARE CHOSEN BY JEW ROTHSCHILD EVEN TODAY. 

HULLO ARUN JAITLEY , HULLO VENKAIH NAIDU-- HULLO SMRITI IRANI, HULLO PRAKASH JAVEDEKAR -- YOU HAVE POWERFUL WHITE JEW SPONSORS. 

DONT EVER THINK ROTHSCHILDs APCO BRANDED MODI IS YOUR REAL BOSS.

INDIA IS A HOLY LAND--WE HAD THE GREATEST THICKNESS OF HOLY TOP SOIL WITH FANTASTIC MICROBES WHICH PRODUCED FOOD OF GOLDEN MEAN

YESTERDAY DESH DROHI, THE FATHER OF GREEN REVOLUTION MS SWAMINATHAN WAS TELLING SHEKHAR GUPTA ON NDTV --THAT MODI WHEN HE WAS GUJARAT CM SPONSORED GM AGRICULTURE. 

THANKS TO THIS GUJJU NO 2 , 90% OF OUR LAKES WHICH SURVIVED FOR MILLIONS OF YEARS ARE DEAD IN 55 YEARS FLAT.

WE ALSO KNOW APCO MODI ROLE IN SPONSORING DESH DROHI VERGHESE KURIAN , THE FATHER OF THE WHITE REVOLUTION-- WHICH DECIMATED OUR PRICELESS HUMPED VEDIC COWS.

http://ajitvadakayil.blogspot.in/2013/07/nutritious-a1-milk-of-vedic-cows-with.html


JALLIKKATU WAS ABOUT PRESERVING OUR PRICELESS HUMPED BULLS . BENAMI MEDIA DID KOSHER PROPAGANDA AGAINST IT.

SHIFT THE CAPITAL OF INDIA TO A PLACE WHERE THERE IS NO SMOG AND TEMPERATURE INVERSION. FARMERS MUST CONTINUE BURNING CROP STUBBLE TO PRODUCE BIOCHAR

DO NOT ALLOW FOREIGN FUNDED NGOs, COLLEGIUM JUDGES, NGT INTERFERE WITH FARMERS PRODUCE OF FOOD…. WARNING---- MODI GOVT -- BE VERY VERY CAREFUL……

Biochar is effective at retaining nitrogen in soils and there is NO need for CHEMICAL UREA...Biochar surfaces adsorb carbon and retain it in compounds with minerals, supporting at the same time a large microbial community that potentially makes more efficient use of organic debris containing carbon and other nutrients...

THIS IS THE ONLY INTELLIGENT WAY TO PREVENT FARMER SUICIDES...The desh drohi GREEN REVOLUTION has caused our holy topsoil to lose 80% of their original soil organic carbon (SOC) pool...

WE NEED 5 HUMPED COWS IN EVERY ACRE OF FERTILE LAND TO PRODUCE DUNG.

WE NEED TO ABOLISH CHEMICAL FERTILISERS AND GO BACK TO OLD METHODS WHICH KEEPS THE TOP SOIL HUMUS LADEN .

READ ALL 6 PARTS OF THE POST BELOW--

http://ajitvadakayil.blogspot.in/2017/05/ground-water-resources-of-india-capt.html

http://ajitvadakayil.blogspot.in/2017/05/nitrate-water-pollution-chemical.html


capt ajit vadakayil
..




  1. PUT THIS COMMENT IN THE WEBSITES OF PMO, PM MODI, VENKAIH NAIDU, SMRITI IRANI, ARUN JAITLEY, PRAKAS JAVEDEKAR, HOME MINITSER, DEFENCE MINISTER, FOOD MINISTER, WATER RESOURCES MINISTER ,YOGI ADITYANATH AND AL DESH BHAKT LEADERS

    ASK FOR AN ACK

    LET ME KNOW THE NAMES OF BASTARDS WHO CALL MY COMMENT "ROGUE"






CAPT AJIT VADAKAYIL
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