Thursday, December 29, 2016

Trading pits can scale up for the Korean Central Bank

The Bank of Korea is considering the creation of a 'supernode' to help mitigate privacy concerns should it seek to adopt distributed ledger technology.Published as part of an overview of the central bank's future plans, the report titled "Present Status and Key Issues of Distributed Ledger Technology" further details policy issues that it believes could hinder the growth of distributed ledgers.Notably, in a section titled "Application Plan", the report's authors include several "solutions" to four key problems recommended by the Bank of Korea, headquartered in Seoul, South Korea.sSpecifically, the application plan advocates for a "supernode" or central manager that oversees privacy controls by helping protect information about the trading partners recorded on the blockchain.
The Bank of Korea proposes that the supernode would also be responsible for issuing tokens and granting participants (or "token users") access to the shared ledger, and calls for a Merkle root-based implementation of a public blockchain capable of conducting 3,000 transactions per second.

Just a note to the Korean Central baker, this is fine.  We will back you up with thousands of pits, we can break your tokens up and re-constitute micro tokens back into regular tokens, keeping your chain whole.  Re-assembling micro tokens back into block chain compatible tokens is  no brainer in the sandbox.  Redneck has  every possible method, and there will be no patents.. Redneck is compatible with Teechan, and we support 90% of the industry payment protocols. Add that to our fair pit boss, terrific bet compression technology, and Redneck is the name you want for your broker business.

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