Syscoin Community Weekly Update #24

Syscoin Community
Oct 30, 2018 · 7 min read

This weekly update is written by the community for the community, to bring you all the latest Syscoin, Blockchain Foundry and SCMT news! Thank you to our Slack member @blgh for compiling this update. Weekly updates, other articles and a lot more can also be found on the new website!

Syscoin, SCMT, and BCF News

BCF Announces Consulting Agreement with LODE!

With the help of BCF, LODE is constructing the world’s first two-token Cryptographic Silver-Monetary-System to streamline business-to-business, peer-to-peer and quote-to-cash processes and integrate seamlessly with Customer Relationship Management and Enterprise Resource Planning systems. Maintaining a relationship to vaulted, pure 99.9% investment-grade silver bullion, LODE’s two-token silver-leasing ecosystem will be connected with Syscoin’s platform and will utilize Syscoin’s immutable blockchain technology to provide LODE with fast, permissionless, seamless transactions, enabling individuals to transact with cryptocurrency and/or fiat in an encrypted, secure environment. The system will utilize a graduated KYC/AML protocol to remain compliant with best practices regulation.

Over the next several weeks, BCF will be fully engaged with LODE and their partners INTERFIX Corporation and Atomic47 to complete the LODE token system design with the intention of integrating the Syscoin blockchain, the INTERFIX engine, the existing member’s portal platform and 18 million grams of vaulted 99.9% pure silver bullion known as the “LODE Community Monetary-Mass.

BCF will also provide the LODE Community with the knowledge base to design and develop the blockchain-based infrastructure of its two-token architecture.

New Blockchain Foundry Website

A New Mini-Proposal Round

Vote Vote Vote!

Syscoin Community Developers on Trello

Check it out here.

Keep up-to-date on noteworthy projects started by developers of the Syscoin Community, through our Trello board. Join the community-dev channel in #Slack and help shape the future of #Syscoin:

Summary of the weekly AMA with Dan Wasyluk

  • Dan: “We are working to get SYS on more places too, and its going well this stuff just takes time even when we have a path to getting SYS on new platform XYZ. I think we have a very strong hardware wallet opportunity too, SYS needs a hw wallet badly.”
  • Dan: “There is definitely a lot of work going on re: bcf/sys and we are working to get to a point where we can share the strategy there it’s very closely intertwined with the Syscoin Foundation effort as well. From what has been communicated thus far the specifics of what we are planning to do might be a first for a public company. All seems feasible, its just going through the process to get from A to B… while still building products and serving clients :)”.
  • Dan: “SYS4 is based on SYS3, but with new original code added, given the 2 options whether it wil be based on a codebose outside SYS3 or SYS3 with new orginal code added”.
  • Dan: “When a fork happens from SYS3 toSYS4, funds will be generated for various parties and transparently distributed to these parties. For now we don’t have enough clarity on that for me to specifically comment on that part. This because it is somewhat dependent on those legal answers, but any funds created would most definitely be distributed transparently but certainly part of the intent is to provide operating funds to Syscoin Foundation. So when the Foundation gets funds, we’ll publish exactly what address those funds were sent to and how much and from there it’s all chain-traceable. To the extent of the knowledge who will get the funds, we are now in discussions with accountants setting up foundation, discussion with our public company auditors, recap with the legal team advising on the fork, and maybe then we can share with some confidence that what we are saying will align with what is actually going to happen. The first 2 in that string are happening next week, and hopefully we can circle back w our legal by Friday but I would bank on the week after for that. I assume they are happening next week, they aren’t actually on calendar yet. I am excited about the plans though, and they seem to have a good chance of working out from all indications.”
  • Dan: “BMD 3.2 is going really well too, J is just wrapping up the last bits this week and then once @keyare acceptance tests and greenlights the final candidate we’ll roll it out so next week is what it looks like as long as nothing showstopping is discovered.”
  • Dan: “Regarding the products that we have been building for our clients in BCFN, right now it’s been a lot of solution design work that would result in systems such as incentive/loyalty programs, tokenizing real world assets, ledgering real estate on the chain some of those will be moving into implementation once the clients secure funds too- and we have meetings to speak with several governments around the products we’ve talked about relative to that ecosystem government procurement is a pain tho tbh, so who knows how long that will take to materialize. We’re gonna keep banging on that til it does because we think government-issued blockchain identities pave the way for an ecosystem of blockchain apps for mainstream users some of which we’re working on developing ourselves- we have a few product development efforts on the go in addition to pangolin that could yield some very valuable products for us while also enabling non-blockchain developers with an easy platform to develop and deploy applications that tie together centralized and decentralized systems develop/deploy/distribute.”

Want to read more? Check out the full AMA with Dan here.

Summary of the weekly AMA with J

  • J: “BMD 3.2 is intended to be the last “major” release of BMD for some time. There will likely be a bugfix release or two depending on if we discover something odd, but no other major release is currently planned. The next steps for the team on BMD are to sync up with Schepis on something that…without going into super details about it, I felt when Sebastian showed it to me that it addressed a number of technical difficulties I saw over the last while in a very positive way. It’s pretty fascinating stuff. I hate to be all “oh exciting, wish I could tell you” but I think when it becomes clearer (and realer) it’ll make a lot of sense.”
  • J: “The repositioning of resources from BMD is representative of that overall alignment coalescing as well I think in the next 6 months w/ community involvement and the directions we are headed in, it will be a pretty cool time to be around, if only to say “hey I remember just before ‘everything’ happened”.”
  • J: “Ideally would also like to see people contributing PRs to the core, but we recognize that code base is currently fairly opaque and difficult to work with. One of the many goals of SYS4 is to reduce the barrier to entry for people who want to help with the protocol”.

Want to read more? Check out the full AMA with J here.

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