Banks are not so ready 'to shake hands' with blockchain

Banks are not so ready 'to shake hands' with blockchain

Insights on the organization of EOS mainnet, banks don't want to use xRapid and improvements of the new protocol released by Golem.

Despite the announced launch on June 10th, EOS mainnet is still not working properly

Nobody wants to stake and vote for the delegates as currently, it’s too risky without the proper tools.

This is getting ridiculous. This situation raises two questions. One question is 'does anyone seriously hold these tokens or all this amount is totally intended for speculations?' The second is more serious. How come that this multi-billion project is completely unusable for normal users? Why should anyone compile the tool for voting and use it from a command line?

There were some talks that now EOS is a decentralized network, everything is in hands of the community and if had built a wallet and voting tools, the project would have been more centralized. If the community doesn't trust them in building the wallet, why trust them in the first place, with building the EOS blockchain? It's just a tool.

Let's imagine some guy promises to build you a big house, a mansion, for you and your family to live in for decades. You pay him, say, $200 million. In the end, you get a big house, but it's located somewhere in the tundra and it doesn't have any doors or windows. This guy says his work is done, you can do whatever you want with your house and disappears, of course with all your money. This is how the launch was organized. Is it good? You decide.

David Schwartz from Ripple says that banks aren’t ready yet for blockchain

He admits that the feedback from many banks about their XRP isn’t very positive.

All banks want their transactions to stay private, that's natural for them. What is amazing is that Ripple somehow manages to stay arrogant, claiming they aren't a part of blockchain market, having their own unique view, and not respecting other projects. Maybe they think that by discrediting the whole market they could make xRapid look better?

Last time Brad Garlinghouse declared that bitcoin will fail in the end. Now it's David Schwartz telling that banks are not interested in blockchain, even in XRP. But the possible truth is, and they can't admit it, that it's not the blockchain technology that the banks aren't interested in. It's xRapid. The consequences of such statement could be devastating for Ripple. As we see, everyone is excited about blockchain, from governments to banks who do their own researches, and big companies who adopt blockchain technologies developed by various projects on the open market.

But for somewhat unknown reason banks don't want to use xRapid, and specifically, XRP as a vessel for transportation of the value. Maybe they can use something else, but not xRapid. If the market would have realized this, the price of XRP would fall off the cliff, and that's the asset that everyone was buying in hopes it would become used one day. That's why we see such behavior from Ripple officials.

Golem has released a new version of their protocol

This new version, labeled 0.16.0, contains a lot of improvements, both in network and in Golem client. Now requestors can define the specifications of the machine they want to give the task to.

Golem project always was one of the most innovative projects in the space. Building the world's first decentralized supercomputer is an ambitious task. The most appealing is that it actually works, requestors get their scenes rendered, providers lend their computing power and complete the tasks, getting rewarded by GNT tokens in the process.

No greed, no buzz all over the news, just the team silently getting its job done, according to the whitepaper. Crypto would be a much better place if all projects were like this one.

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