https://bitcointalk.org/index.php?topic=1256406.0
I understand banks dont even know BitShares exists, but they're preferring Ethereum over Ripple for example? For money transfers and banks use cases specifically, shouldnt it be something like
BitShares > Ripple > Ethereum or Ripple > BitShares > Ethereum?
We're way more into this kind of stuff than ethereum is. We have way more potential. We specialize in one thing while Ethereum is ok at everything else.
Do these people actually do decent research or only go for whatever they hear "should" be good enough? Or am I just completely wrong? Unless they want to develop other use cases for which Ethereum might be better at? I just didn't predict banks teaming up with Ethereum. I always thought that Ripple would be the one doing so becasue of all the connections they have and we would be the alternative and the "new" stuff for some other more bold banks while providing services for all exchanges.
Ethereum would just be used for... everything else
Ethereum took over Silicon Valley while Bitshares took over Virginia. Silicon Valley is more connected to the tech world so it's obvious why Ethereum is able to do certain things.
But I don't see why banks would choose Ethereum either. Ethereum has questionable security, is experimental, and I doubt banks are going to put all their hope into Ethereum at this time. Maybe in a few years if Ethereum matures it could have some support but it's not going to happen over night.
I think if they use it they might just fork it. Still, would probably be beneficial for eth. That isn't a race we should loose. Every crypto is trying to find it's niche.
We're just finding ours and would be nice if we wouldn't collide with other projects that could take away our market share.
My opinion is Bitshares should work with any organization or entity that a corporation could work with. Bitshares can work with banks, governments, non-profits, NGOs, private investors, celebrities or whomever. That in fact is the beauty of the design of Bitshares.
At the same time that is also why I try to tell people to tone down the ideological graffiti. Ideology puts people into a tribal state of mind, it makes it harder to do business dev, harder to collaborate, it divides people, makes people irrational, and while it's good at times for your community to have a deep philosophy, you don't want it on your website or in your marketing.
In your marketing and on your website you want to focus on how much $ the people or organizations can make, or how much $ they can save, by working with you over working with your competitors. You also want to highlight your strengths and compare it to the weaknesses of your competitors.
Bitshares has some clear and irrefutable strengths in the technological arms race. It also has some weaknesses. The strengths actually appeal to traditional institutions like banks and in many ways Bitshares has taken a conservative approach. On the other hand generalized programmable blockchain are a strength and while Bitshares has some of these capabilities it will be left in the dust by some of the other projects.
So Bitshares needs to focus on it's niche. It's niche is financial transactions, it's niche is decentralized exchange, and from a technological point of view if it can do bank functions better than Ethereum then it might win over some of the smaller banks. You don't need to win the biggest banks, you just need any banks.
Very good point Luckybit, yes this what BTS needs to do; gain mass exposure. I have put it to Fabian about the importance of getting BTS out into the big league BTS has far superior security, hack resistance (virtually hack proofing who starts using it and it is also generally more aligned with big finance to start with.
BTS needs to make its mark on silicone valley, where the boy's clubs are and the tech nerds that need to see what BTS is about.
BTS needs to promote itself as a hard core bottom up industry grade platform that will bring finance into the 21st century, the finance world is still in the dark ages tech wise BTS is the disruptor and it will take on conventional wisdom head on.
A hard nosed assault on silicone valley and the tech world is how BTS will ultimately flourish and be the tour de force it deserves to be.
So marketing is the key here, build enthusiasm in the boy's clubs over there in silicone valley, show the silicone wannabes the innovation force that BTS holds.
Connect Bitshares with the tech world, apps to connect to smart phones and ipads integration with trading platforms, then see what the result is. Whilst BTS is not perfect, nothing is. I see it being far better accepted than some silicone valley sandbox. Ethereum has its place but it's not at the forefront of financial security,
hack prevention and international trade.
The financial world wants security and peace of mind that funds are properly held and secured at all times, this has been and will always be the number one first order priority concerning the stowage and transfer of money.
I will also add that BTC is old hat tech now, it's too slow, too resource intensive and cannot scale up like BTS. So the real truth and fact of the matter of bringing finance into the 21st century is six fundamental rules:
Security, Keep out thieves and hackers.
Speed, Faster the better.
Scaleability, Grow as finance grows.
Adaptability, Make provision for change in the finance sphere.
Flexibility, Empower the individual with the ability to tailor their finances the way they want them not how they're told to..
Convenience, being able to pay and go quickly.
That's the ethos of people friendly modern finance.
Topic: Banks going for Ethereum (Read 5040 times)
