

A Bitcoin Technology Gets Nasdaq Test - prostoalex
http://www.wsj.com/articles/a-bitcoin-technology-gets-nasdaq-test-1431296886

======
oska
Some clarification from one of the authors of this piece on their twitter
stream [1]:

@mikejcasey are they using Bitcoin-inspired blockchain technology or "the"
blockchain?

@jerrybrito THE blockchain. It's a colored coin implementation. That got lost
on cutting room floor.

@mikejcasey Any more details? That is a little vague.

@brantonbits They're using the Open Assets Protocol, a colored coins
implementation on top of bitcoin. That clearer?

[1]
[https://twitter.com/mikejcasey/status/597530065035988995](https://twitter.com/mikejcasey/status/597530065035988995)

~~~
andrewfhart
For anyone interested in learning more about the Open Assets Protocol, the
official specification is here [1]. It's relatively short, and really quite
readable.

The reference implementation is in Python [2], but I've been working on a
JavaScript implementation [3] that's available via npm [4]. It's mostly
complete, but I would love help from anyone interested in getting it over the
finish line...

[1] [https://github.com/OpenAssets/open-assets-
protocol/blob/mast...](https://github.com/OpenAssets/open-assets-
protocol/blob/master/specification.mediawiki)

[2]
[https://github.com/OpenAssets/openassets](https://github.com/OpenAssets/openassets)

[3]
[https://github.com/andrewfhart/openassets](https://github.com/andrewfhart/openassets)

[4]
[https://www.npmjs.com/package/openassets](https://www.npmjs.com/package/openassets)

------
andrewstuart2
Obligatory link via google. Somebody ought to write a bot for this.

[https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&c...](https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CCIQqQIwAA&url=http%3A%2F%2Fwww.wsj.com%2Farticles%2Fa-
bitcoin-technology-gets-nasdaq-
test-1431296886&ei=ixtQVZKYAom7ogTbz4DQBA&usg=AFQjCNEg64cebdsNmSa1sR9RVD_qDeK7rg&sig2=KSnagOPe1c4HOwff30CYRg)

~~~
ISL
Or build a micropayment system that takes off, so we can collectively pay for
good reporting....

~~~
nfoz
And/or use tax money to pay for good reporting, as has been standard practice
in many jurisdictions for a long time.

~~~
modeless
If you live in the US then you may not be aware but your tax money does pay
for a news service: [http://www.voanews.com](http://www.voanews.com)

~~~
throwaway7767
Isn't that more propaganda meant for export?

~~~
eru
The well regarded BBC World Service falls in the same category.

------
apo
The announcement from NASDAQ has some important details the original article
left out:

[http://www.nasdaq.com/press-release/nasdaq-launches-
enterpri...](http://www.nasdaq.com/press-release/nasdaq-launches-
enterprisewide-blockchain-technology-initiative-20150511-00485)

Specifically, this article points out that Colored Coins will be used,
together with the Open Assets protocol.

~~~
tdaltonc
Why would they use OAP as apposed to their own blockchain based system?

------
thatcherclay
Sounds interesting - however, if they are successful in reconciliation, then
seems logical that the next step will be addressing the transfer of wealth
that happens after reconciliation (ie, clearing). I am not sure how much of a
problem this truly is - ie, how much of counter party risk is attributed to
how often the counter party agrees on the reconciliation but just does not
have the capital to pay up at t+3.

Whatever it is, if you could instantaneously reconcile and clear, then some
forms of trading could get a lot faster.

------
evbots
sounds interesting, but will probably be fundamentally closed, so i'm curious
to see how the concept of "consensus" plays a role.

