Here's a simpler version
What happened : Uber ran a test (a "pilot") of moving money between companies over the weekend, when normal banks are closed 😉
Uber just tested weekend money movement on Canton, with HSBC tokenized deposits (real bank money in digital form).
👀👀👀
Weekend settlement, with treasury controls intact.
@FireblocksHQ details Uber's pilot on Canton, using @HSBC tokenized deposits and delivery-versus-payment settlement.
Uber retained its own signing controls and entitlements.
WHY NOT JUST USE AN ORDINARY PUBLIC BLOCK CHAIN?
Good question.
Imagine a bank makes a deal to lend $500 million to another institution.
The transaction might contain:
The amount borrowed.
The interest rate.
The identities of the parties.
The repayment date.
The collateral
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Would the bank want every person on the internet to see those details?
PROBABLY NOT
Financial institutions need privacy, confidentiality, compliance processes and control over their records.
On many public blockchains, transaction information is publicly visible by default.
@CantonNetwork was designed around a different approach:
parties can transact and coordinate while sharing only the information that relevant participants are entitled to see.
This is one of Canton's biggest selling points.
Walk with us, we will simplify #cantonnetwork 😎
WHY WAS CANTON CREATED
They are many reasons why @CantonNetwork was created.
But at the core, INTEROPERABILITY & PRIVACY was the main reason Canton was created.
INTEROPERABILITY
Interoperability simply means different systems can communicate & work together
🧵
Think about WhatsApp and Telegram.
They are separate applications. They have different owners, infrastructure and databases.
You cannot normally send a WhatsApp message directly into someone's Telegram inbox.
Now Imagine a technology that allows independent systems to coordinate actions without forcing them all to become one application
That is the kind of problem Canton is designed to solve for financial markets
More coming soon
Stay glued for our next post 😎
#CantonResearchNov26
Think of Canton as a way for separate financial systems to work together without requiring everybody to share one giant public database.
That is the foundation.
In the next post I will be explaining why that matters. 😎
He knows something you don't.
The best place to hide anything is in plain sight, because no one will look in that direction.
Your ability to profit in this space and in life as well depends largely on your ability to predict the future or to see something before others does.✌🏿
Top CEO says he holds large amounts of Canton Coin.
@Joshua_Frank_, CEO of @TheTieIO, has disclaimed that he is personally a large holder of $CC and is planning on buying even more!
The news is perhaps unsurprising, given that The Tie itself is already known as a super validator on @CantonNetwork having locked 130M $CC in order to maintain its status.
Talk about conviction...
CANTON FOR DUMMIES
Let's start from absolute zero.
Forget everything you think you know about blockchain for a moment.
I will attempt to explain Canton Network the easiest way possible. I will start with toys, money, banks and people. 😌
7) What DAML is and why it matters.
8)What validators and synchronizers do.
9) What $CC is and how it relates to Canton.
10)Where and how certain projects fit into the ecosystem.
11)Where Canton could fit into the future of finance.