Blockstream announces new "Liquid" sidechain.

[bytemaster]

Yes, we could do it trivially via the following process:

1. Define a multi-sig group on the bitcoin network as the highest N witnesses
2.  Transfer funds to that multi-sig address and have the witnesses issue an asset in return
3.  Have funds sent to the witnesses direct them to a bitcoin address to withdraw to.

The primary challenge is implementing the communication protocol for the witnesses to approve the deposit / withdraw.

[jakub]

For those interested in the technical aspects, here I've found a good explanation of the sidechain concept:
http://gendal.me/2014/10/26/a-simple-explanation-of-bitcoin-sidechains/

[bitmeat]

correction, a much much slower wheel

With much higher access to cash.

[fav]

yes, without a sidechain.

bitcoin sidechains are useless IMO

[luckybit]

Can Bitshares 2.0 do this? http://www.coindesk.com/blockstream-commercial-sidechain-bitcoin-exchanges/