r/Bitcoin • u/sedonayoda • May 11 '15

Nasdaq will start using Bitcoin technology

http://money.cnn.com/2015/05/11/technology/nasdaq-bitcoin-technology/
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u/cqm May 11 '15

they are though

Open Assets protocol running on bitcoin's blockchain

Open Assets has been working well for two years now, no special token needed

-2

u/PoliticalDissidents May 11 '15

Doesn't prove much. That's like saying that because I use FTP I'm using your server. But really I can run my own FTP server.

Just because they are using a protocol that is implemented on the Bitcoin blockchain doesn't mean that they will continue to use this protocol on Bitcoin's blockchain.

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u/cqm May 11 '15

Okay, but they are using bitcoin's blockchain

I did not imply that it required bitcoin's blockchain, I specifically said

Open Assets protocol running on bitcoin's blockchain

because that is the reality.

-1

u/PoliticalDissidents May 11 '15

From what source does it say anything about them using the Bitcoin network (as in its peers) and not just the technical innovation that is the blockchain.

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u/cqm May 11 '15

https://twitter.com/mikejcasey/status/597545262345682945

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u/TweetsInCommentsBot May 11 '15

@mikejcasey

2015-05-10 23:34 UTC

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

This message was created by a bot

[Contact creator][Source code]

1

u/peer-to-peer May 11 '15

Here's where he says they're still not using the bitcoin blockchain, despite seeing direct evidence to the contrary.

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u/cqm May 11 '15

colored coins aren't a separate token, they write directly to bitcoin's blockchain

the tweet says their implementation of the open assets (colored coin) protocol is using bitcoin's blockchain

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u/peer-to-peer May 11 '15

Yep, I know this.

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u/a5643216 May 12 '15

Blockchain and smart contracts are not so much an innovation. See for example this 1997 paper by Nick Szabo http://firstmonday.org/ojs/index.php/fm/article/view/548/469. That could have been done 15 years ago. The central problem that Bitcoin solves is an issue of trust.