Re: [projectvrm] R3 and TradeIX develop open account trade finance DLT business network – R3

[John Philpin < >]

awesome quote John - thankyou - so good I had to borrow it  - with due credit of course!

On Oct 6, 2017, at 9:48 AM, John Wunderlich < " class=""> > wrote:

James;

The corollary of the "Death of contracts of adhesion" because of information decentralization is that physical hubs will also gradually disappear. Mass customization, on-demand local manufacturing, and local sustainable power are trends that suggest that centralized hubs can, and hopefully will, disappear in the coming decades. It may be the second coming of the customer as king.

"Things fall apart; the centre cannot hold;

Mere anarchy is loosed upon the world," (but in a good way)

Y.B. Yeats, The Second Coming.

John Wunderlich, BA, MBA
@PrivacyCDN

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Kantara Initiative: Consent Receipt Specification 

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On 6 October 2017 at 11:28, James Hazard < " target="_blank" class=""> > wrote:

It seems to me that once a part of a supply "chain" becomes standards-based, it also becomes reconfigurable.  Hubs that extract more than they deliver will be bypassed. 

Many blockchain-based approaches imagine centralization of the data (on "decentralized" databases).  It seems likely that the records will be mostly decentralized and access control will do most of the linking.  That makes them very reconfigurable.  R3's CORDA is not a blockchain, and they may have sorted this out.  

I'll be in Toronto at the International Association for Contract and Commercial Management's Americas Meeting on Oct 11-13, pitching a common record syntax as the key to standards formation, with legal document codification as the bridge.

    

   

On Fri, Oct 6, 2017 at 3:14 PM, John Wunderlich < " target="_blank" class=""> > wrote:

Buzzword bingo alert:

"The initial development phase involves creating standard trade finance smart contracts on a distributed ledger infrastructure. This provides secure and automated financing of supply chain using a single record for critical trade data including identities, purchase orders, invoices, shipping and logistics information, trade assets, financing activity, credit risk, and more. Following this phase, R3 and TradeIX will engage the broader ecosystem, expanding services and onboarding additional members."

I note the inclusion of 'identities' in this announcement. This opens up both a VRMy vision of user-initiated transactions that a user could track through the supply chain for validating preferences, be they fair trade, country avoidance, lowest cost etc. That's if the supply chain places the user/customer at the centre. i.e. Not likely when implemented by banks and trade organizations. A more likely scenario is user tracking, targetting, exploitation, and surveillance. This will be the case even if the end user has full visibility of their order. Unless and until the power imbalance created by centralized pools of capital and individual customers, even self-sovereign identities can be subjected to this kind of exploitation.

https://www.r3.com/blog/2017/09/26/r3-and-tradeix-develop-open-account-trade-finance-dlt-business-network/

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