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Some Thoughts on the Official Economic Report of the President
Crypto Debunked by US : I read US President Economic Report 2023 so that you don't have to .
Crypto Debunked by US : I read US President Economic Report 2023 so that you don't have to .
Software implementation company | Software Implementation | PKC Management Consulting
Analysis of The Whitehouse’s Annual Economic Report Of The President
Working in the field of cryptocurrency
Trying to understand Blockchain better - Part 1
Why most of blockchain projects will not make it, and it's not really for the reasons you think. It's for the reasons that most of you confuse and misunderstand what blockchain really is.
NewHype And NewTrend on BSC easy to the Moon,renounced,Ever Ratscoin- Potential 10x from now ,Time to the moon,Dont miss $ERATS
Ever Ratscoin- NewHype And NewTrend on BSC easy to the Moon,renounced, Potential 10x from now ,Time to the moon,Dont miss $ERATS
The Problem With CryptoCurrency Payments
Solana: I tested the network so you dont have to. Couldnt even close an open trade due to "Degraded performance" AGAIN TODAY. But they applied a "fix". Is this a public blockchain or a glorified database?
Mentions
No problem. It’s a very common concept for those working with SCM systems, PLM systems, ERP systems, any big consulting firm like PWC, Deloitte, KPMG, McKinsey, etc - we will all have exposure to these concepts. It is a big part of why Apple air freights the iPhone. A few hundred dollars of the iPhone price is due to air freight. They need to execute against demand expectations on day 1 and be able to reconcile demand with supply. This is in large part because they are planning obsolescence into their products, into their sales, production, and financial plans for the fiscal year. So, it is a very common concept that any electronics company with strong education should be aware of. Happy to discuss more but I am honestly surprised (or not surprised, because it’s…Reddit…) that people are just simply unaware of this concept. It’s common knowledge for those that consult this particular economic segment
[https://github.com/ERP-FTW](https://github.com/ERP-FTW) see the readmes for more info, the bitcoin modules are FOSS. We sell a set-up service and support.
I would like to see the technical specifications of this so called blockchain to see if they are really utilizing blockchain or if IBM and DL freight are just coopting the name in order to hype their products. Traceability existed prior to blockchain, it was essentially assigning batch numbers to all inventory which was traced from inventory increment all the way to the decrement when shipping to the customer. These batch numbers can be referenced if something goes wrong at the end customer, say a returned item with some sort of issue like e-coli. Then, the shipper could locate other shipments related to that same batch and even quarantine them in their system. This is not blockchain, but some may unscrupulously describe it as such. So, I am left wondering. Same thing with automated payment processing. This could simply be EDI exchange of advance shipping notices and the return of shipping documents back to the ERP system with the actual costs which take about 5 days to calculate after delivery. These happen based off of a load ID not necessarily blockchain.
Microsoft D365 is an ERP system for the mid-market. They are modular, so General ledger, Accounts payable, Accounts receivable etc. I would like to develop a Crypto Module to feature a wallet, and the ability to do AP and AR invoicing in cryptocurrencies, cash receipts, cash payments, etc. I would like to sell this to MSFT. Let me know if you are interested in building this out together. We could even develop a blockchain explorer to exist within the application, perhaps even integrate smart contracts which execute automatically with vendors and customers as they relate to Sales orders etc.
Do you think ERP systems like SAP, Siebel, Oracle, D365 and others will one day process crypto payments from customers and to suppliers?
I want to integrate with ERP systems need devs.
Biggest ERP Technology company with significant Business2Business customer
https://en.m.wikipedia.org/wiki/SAP Massive ERP company. Largest non-American software company in the world.
SAP also is an Enterprise Resource Planning (ERP) system for medium plus size business. I wonder how soon crypto and blockchain comes to ERP systems. Does anyone want to help me code a new module for Microsoft D365? It is prevalent ERP for middle market and a competitor to SAP.
AI can work with any and everything, and crypto is no more special in this regard than your calendar, social media account, or ERP software. The crypto x AI market will pump due to speculation, like we saw with metaverse coins in the last cycle, but I HIGHLY doubt any of them are actually going to offer real novelty.
Global enterprise resource sharing (ERP) are a very real use case for crypto.
I bet there’s something that could be done to help incentivize more efficient work with smart contracts. I’ve worked with some companies that use ERP systems to keep track of their work orders, purchase orders, and the underlying accounts and one of the largest pain points is just the uncertainty of dealing with multiple different parties on one job. It would be really cool to see something that implements a smart contract that contains pays out the money and notifies the appropriate parties (General contractor and next person in line) on completion/approval. You could also keep track of who has been paid, who has done what, what issues were encountered, estimated timelines all on the contract. Sorry for the stream of consciousness comment. I just thought it’s a pretty interesting use case
Blockchain has been for some time now looked on for use in industry to enable better traceability. Even adding certificates and test results is possible. Some industrial processes are already using early versions for ERP integration. It has a lot of potential since it's very cheap to secure from outside manipulation, and security is a major topic in industry 4.0.
Isn't SAP an ERP? Sure its functions are called transactions, but they provide data access. Never saw any Crypto related transactions while working with it ...
Thats because like most redditors theyre oblivious to what chainlink is doing. If you followed them, you would be aware that alot of these companies are diving into web3. [https://provide.services/news/chainlink-integration-with-sap-via-prvd](https://provide.services/news/chainlink-integration-with-sap-via-prvd) ​ >Our submission integrates Chainlink price feeds into the SAP S/4 HANA enterprise resource planning system - the #1 ERP system used by Fortune 500 businesses and other global organizations for finance, supply chain and other business processes. In so few words - we used Chainlink price feeds to update the foreign currency rates in SAP.
Gee i wonder what service they are going to use. >Business ByDesign or S/4HANA Cloud), thus making it a fully automated process with autonomous reconciliation. [https://provide.services/news/chainlink-integration-with-sap-via-prvd](https://provide.services/news/chainlink-integration-with-sap-via-prvd) >Our submission integrates Chainlink price feeds into the SAP S/4 HANA enterprise resource planning system - the #1 ERP system used by Fortune 500 businesses and other global organizations for finance, supply chain and other business processes. In so few words - we used Chainlink price feeds to update the foreign currency rates in SAP.
Cross border is the key case for crypto in the short term. In many places globally moving money in/out is massively inefficient. Making it easy for corporates to do this on the ERP/accounting infra-structure removes an important barrier to adoption.
This is a complete game-changer. And I mean it and here is why: The video shows that it would be integrated into the ERP/ Finance like any standard transaction. My head is exploding. Picture this: 80% of world-wide business revenue transactions end-to-end at some point touch a SAP system.
SAP would be amazing for the crypto industry. So many companies rely on their ERP system.
[https://milightningrod.com/home/release/](https://milightningrod.com/home/release/) Check out our tool! It might help you accept bitcoin/lightning alongside traditional methods (cash and cards) and possibly give you access to many more business function tools. It is basically BTCpay server connected to Odoo point-of-sale, so you get to be sovereign with your bitcoin but with the full power of a ERP system. DM us if you would like.
[Here is the White House Economic Report from last month](https://www.whitehouse.gov/wp-content/uploads/2023/03/ERP-2023.pdf). Chapter 8 (page 237) is where the talks of digital assets take place. Worth the read. My take is that the gov is going to implement CDBC’s no matter what. Blockchain’s will most likely exist but unsure if they will have a value tied to them. Again, that’s just my take as a pleb in this space. DYOR.
>Isn't/wasn't this mostly a problem in the US? Like how they still for some reason use cheques? Yes, it's just an example. If you want a global example, try flush toilets, which are not particularly new or difficult technology, but the good old fashioned hole in the ground is still widely used. To extend a metaphor: it's not the technology, it's all the associated plumbing and practice that's the problem. Plus despite how much the hole might stink, it's already dug. >I would argue that something like SP500 ETF would be fairly straight forward to launch on blockchain. Sure. It's just a lift and shift. But anyone whose tried one of these things will tell you that it's important to think about all the stuff that plugs into what's already there. Putting a new brain in your head isn't technically hard. Keeping you alive and functioning is the hard part. It's quite particularly hard if you happen to be an athlete, running a marathon. The S&P500 is not just a computer database in a room somewhere. It's also an entire system of people and processes that access the database, feed it information, pull information, share information ... There are literally tens of thousands of people with jobs who make various things work, and while all of them will be quite enthusiastic about saving costs, the cost that each of them is guaranteed to be least enthusiastic about cutting is the cost of their own salary. And second to that, they will spend a lot of time and energy convincing you why their job also shouldn't change. Because people. What tends to happen when we try these things in real life is a convergence toward one of two poles: either we make the change so surgical and small (and unnoticeable) that we ultimately get very little of the value at a reasonable cost, or it mushrooms in cost and complexity to the point where the disruption and expense isn't worth it. Arriving at either pole tosses the program in the bin. Ask any large company who's gone through an ERP system upgrade and they will tell you nightmare stories. And then scale that up from one company where there's a decision hierarchy to everyone connected to SP500 in which nobody can control everyone else's views... it's just not going to happen. These are the kinds of things that kill lift-and-shift technology projects. It's never the technology.
Isn’t that ERP SNAFU at all companies?
Our team has ensured a failed ERP implementation now there are 2 parallel systems. Online system which nobody trusts Offline system which is basically Excel sheets
The fact that Bitcoin was designed to be POW, and will remain so, must really irritate the government control freaks, especially those that want it to be a regulated security as opposed to a commodity. Haven’t read the report, but here’s the link from the article: [https://www.whitehouse.gov/wp-content/uploads/2023/03/ERP-2023.pdf](https://www.whitehouse.gov/wp-content/uploads/2023/03/ERP-2023.pdf) The report is book length and covers diverse topics with enough content to feed Reddit subs for months. Digital asset content starts on Page 211.
It’s coming from the top as well. President sees crypto as an existential threat: https://www.whitehouse.gov/wp-content/uploads/2023/03/ERP-2023.pdf I think the more interesting question is long term implications. Europe, Japan, Switzerland, Singapore and Hong Kong are embracing blockchain technologies. Is this the beginning of America’s reduced global economic hegemony?
Why does the article not link to the report? Is it that hard to put in your source? [Here](https://www.whitehouse.gov/wp-content/uploads/2023/03/ERP-2023.pdf) (link to the pdf) is the Economic Report of the President. Chapter 8(starts on page 237) is about crypto assets.
basically a real life ERP, and the admin holds all of power
Sure but when I’m consulting enterprises, we establish these reports in the ERP to illustrate gain/loss that flow directly to the financial reports. Tax is separate from FinOps, managerial, or executive accounting and finance. You are quite literally poorer from the loss. There are nuances but that’s the top-down view
Well we all know that ERP stats for: *Erected Red Penis*
I took an ERP class in college. All the comps that had the installs were VMs we would connect to. Someone wiped our VMs halfway through the semester and I remember wondering how the fuck we lost all our data. I think we literally all got B’s or C’s the class was completely ruined.
For enterprise crypto - TaxBit, Bitwave, Lukka, ZenLedger, a few others. Most along w/ an ERP like mentioned, SAP, Oracle, Netsuite, etc.
Enterprise ERP and EPM applications. Most big companies use Oracle or SAP. Everything is going cloud based now. I work with Oracle Fusion Cloud ERP, Oracle HFM, and many other apps daily.
Cloud ERP software, usually
Adoption is driven by big companies expanding to utilize/replace some of their infrastructure with blockchain tech. Retail doesn't mean anything for adoption at this stage and what they understand also doesn't mean anything. The leading global firms dealing with accounting, banking, databases, ERP, gaming, incident management, etc, will be the drivers of mainstream adoption, because if they choose to use an L2, then customers will end up using that solution too, in most cases without even knowing it. The same way you got electricity in your wall socket, but you didn't have any say in choosing what source it came from nor did you really understand how it was produced and transported to you - you just need to learn how to flip a switch.
Some please call the ERP fellas. I want to see all the big crypto scammers of 2022 do a rap battle.
our financial modules are not strong as strong as the core financial ERPs i agree but we do integrations with Oracle, SAP, SAGE and MD. you are right its a small company employee wise, but we are talking about a company that has billions of dollars in assets, dozens of registered entities around the world doing crypto trading, which is not something standard and would also probably require for the ERP to be integrated with their trading platform, something that the conventional ERPs will not have be default and would need to be tailored for them. Then there is also the other issue of every entity having different taxation rules as well as the accounting methods for the different services that are offered will not be treated the same way. I'm sorry but if you think this can be done in a month or two then I don't know what else to tell you, just the workshops and finalizing the user requirement documents would take more than a month or two.
And even excluding those firms who aren't keeping the data in-house, there are still a **ton** of small-scale companies provide cloud services. I think there's a bit on comfort if you're the CIO and knows the names of the folks housing your ERP or what have you. Now is this *actually* safer? Ehhh...
It takes a company like 80m to change ERP, but we swear we have top tier coders fueled by their desire to live off mi goreng noodles.
MITM: This doesn't answer where these problematic MITM attacks are taking place. What is this solving? Saito: why is blockchain necessary here? All of this exists and works well in traditional database structure. Corps: I didn't say bad actors either. We are both agreeing that the programmer limits the program. ERP: then you can't really have any understanding what it means to implement enterprise level software. It's very involved, and has a lot of stress points. These things cost $50k starting for a reason.
\> Where are you seeing a problem with MITM attacks that require this? ​ In a blockchain approach whereby users put their public keys in published blocks, the information is distributed over the participating nodes with links to previous and following blocks. This makes the public key immutable and it becomes harder for attackers. \> If I'm not paying a premium for this Zoom clone, how does the dev get paid? And there will absolutely be corporate limits. The dev of the application is the Corp, and the limits of the program are the limits. In Saito you will have to pay money to use applications, but there would be ad faucets if you don't want to pay money from your pocket. So devs would be paid for their work provided to network by the network. \> It's naïve to act as if a corporation is the reason a program has limitations. What I wrote is "Saito saves you paying for premium and doesn't have corporate-controlled limits." I never said that they are the bad actors, they are doing what is best in their interest by adding limitations for who can use how much part of system. Simple as that. \> Have you ever deployed an ERP? No, I haven't
Where are you seeing a problem with MITM attacks that require this? Why is Blockchain necessary when other key handling protocols exist and work more efficiently? If I'm not paying a premium for this Zoom clone, how does the dev get paid? And there will absolutely be corporate limits. The dev of the application is the Corp, and the limits of the program are the limits. It's naive to act as if a corporation is the reason a program has limitations. Implemention flexibility requires extremely robust software and teams of programmers ready to do custom implementation work. Have you ever deployed an ERP?
Thank you for the level headed and factual exchange. It's refreshing with such a controversial topic. ​ *But now, all of the responsibility has been offloaded to me.* Yes, decentralization requires education. If it's not the right thing for you, ok. But please don't deny it for others. *I can get the same effect.* You can't, it's not immutable. Therefore it wouldn't work as a monetary system. *But what is the incentive to improve it?* To stay competitive. *With our ERP system this was easy, we saw we actually got 15 X and removed the other entries.* There are ways of implementation that take care of this. You just can't change the original entry. With a central system it's easy to forge data for whatever reason. *I don't want people looking at my internal data.* Again, that's understandable and totally ok. But please don't fight others who see the benefit. Imagine taxes being paid through a decentralized crypto asset. We could see exactly where that money goes. *Because the larger a chain the more scaling issues. I mean this is true of any system, Blockchain just has it worse.* Absolutely true. Blockchain is outdated technology. DLTs like Radix solve these issues. Though this just touched a technological aspect, not the benefits decentralization itself. *But the underlying system has to be centralized.* Centralized systems and decentralized systems can coexist as the examples of renewables or the current crypto space show.
>*Then why would I trust a smart contact code writers anymore than I would, say, Google or Microsoft?* > >Because they are open source. > That doesn't mean it's any better, I now need to trust another 3rd party to verify it, or be an expert myself. And even experts miss things. But now, all of the responsibility has been offloaded to me. >*But that's the thing, it really doesn't.* > >Just saying it doesn't make it true. You can't create a decentralized monetary incentive with an SQL database, come on. > I can get the same effect. >*Any decentralized network still have running costs that need to be passed on, and systems in place to do so.* > >True. Since there is no corporation making massive gains, drivers and clients save billions. You just act like these corporations would not make any revenue and just cover their costs. > But what is the incentive to improve it? >*But is that better?* > >From the point of people yes. From the point of corporations and banks losing revenue, no. > >*(1) is bad* > >How so? It's what you want overseeing a supply chain. > I'll use a real world example that has happened to me. One of our suppliers had a malfunctioning laser, so our scanned in QR codes were messed up. We ordered 15 of item X, and according to the scanner we got 3X, 7Y, 2Z and some others. With our ERP system this was easy, we saw we actually got 15 X and removed the other entries. >*(2) is debatable* > >even though the ledger data is publicly visible and you can look at it yourself? > I don't want people looking at my internal data. I concede for high-oversight non profits this would be a good thing. That's a real solution. >*(3) is a lie* > >I already explained with the Uber example why it's cheaper if you don't have a corporation serving as a middle man > Because the larger a chain the more scaling issues. I mean this is true of any system, Blockchain just has it worse. >*But is that better?* > >If you are a person, yes. If you are a corporation losing market share, no. If you are a corporation saving costs through using decentralized alternatives, yes. > >*Where and why does Blockchain enter here?* > >I didn't use it to explain blockchain, I used it to explain the benefits of decentralization. DLTs are needed to incentivize running the necessary decentralized infrastructure. But the underlying system ***has to be centralized***. Nobody cares if you are producing extra power unless they can use it. The reason you have a centralized grid is for both redundancy, standardization, and load balancing. You do not want your power out of phase or bad things happen.
ERP in the day. Blockchain in the night - side hustle. One day, you'll know when to switch the side hustle to main one
2- yes if a middleman swaps our products they will get bad reviews nft or no. What I’m saying is that the nft does not provide better security of the product in the hands of that middleman. Why then is the nft needed? 2B- When I said a middleman could mint an nft I didn’t mean they could mint an authentic nft, but instead could mint a fake nft that could scan to a similar looking site etc but was fraudulent. Are you saying that is not possible from the customer side? 3- I was trying to figure out how a customer facing authenticated nft would work in this scenario. In this case you are saying that the nft on a product package would link to a page with QR code info. Why not just simplify use the QR code alone? NFT or not the QR code would have to be maintained so the cost isn’t eliminated by an NFT and additionally the company would have the cost of generating the nft right? As well the cost to house QR codes is very low- my guess is MUCH lower than the cost for generating NFTs and is something many businesses are doing in a low cost centralized way. Can you explain how the nft cost would be lower? As far as interfacing with a QR code, cell phones etc are already set up so the retailers shouldn’t have an issue with linking to that system. You seem to be confused and think that a DLT = decentralized blockchain = NFTs when that’s not the case. DLTs in the form of private permissioned databases use the power of a central authority /notary to approve participants, make and change rules, approve transactions, even rewrite the transactions as needed. They don’t need crypto currencies to run and usually have the same customer costs as other ERP systems. I’m all for businesses looking at whether an SQL database vs DLT makes more sense but neither are a public decentralized blockchain. And the fundamental tech that is being used for authenticity in the cases you and I are are taking about is QR or RFID tech not NFTs.
That’s catchy… but https://www.govinfo.gov/content/pkg/ERP-2011/pdf/ERP-2011-table73.pdf The interest rates were already pretty constant for about a year prior to the financial crisis starting in Q2 2007 and lasting through 2008. The 2007-2008 meltdown had more to do with predatory home loans and banks being incentivized to have mortgages regardless if there customers could pay for them. ^(go to last page of above link and far right column to view month by month interest rates from 2006-2010)
For all the instances you have mentioned e.g. Apple making phones, Spotify giving you music, KFC serving you chicken, a lot of technology and plenty of other tools, businesses and processes are running on the background to make all that possible, so your question is like asking why all that shit like SAP (or any other ERP), and the tech on the cashier machines and the speakers of the drive-thru, and the technology of the frying machine or even the optic fiber connection at the restaurant is useful for KFC if I just need my chicken wings? Therefore, the coins (as the chicken wings) is the product the final user sees and a way for the company to get revenue from, however the real value is on all the technology and research and effort behind. Industry has been using Distributed Ledgers (the base for the so-called blockchains) for decades and trying to improve and find new uses cases for them every single day since then...All this blockchain hype nowadays is simply a capitulation and realization of this undeniable enhancement of an specific technology. Currently we might be on a very early stage and similarly like your great (great) grandmother didn't directly benefit from the invention of the IC engines 1.5 centuries ago, most of the people cannot see the impact of an invention until it is adopted by the masses. However If we are lucky enough you and your mom will benefit from whatever "crypto project" is being used in the near future to claim an insurance policy in seconds, stop worrying about paying toll or parking or EV-charger fees, stop carrying around a passport and other documents while traveling or a license while driving, stop doing tons of paperwork for tax reporting, leave your home appliances do shopping for your supplies, or check if your food is really organic at the super market. TL;DR: The more unreliable and untrustworthy the human beings become, the more benefits we can get from all these blockchain techs.
Many of the GC members are very active with Hedera use cases. These include but are not limited to: * DLA Piper with their Toko securitization platform * Shinhan Bank working on a KRW-backed stablecoin * ServiceNow improving ERP auditability and transparency * Avery Dennison ensuring transparency of carbon consumption and sustainability impact in supply chains * Ubisoft supporting game tokenization with the Hedera Token Service
That's the next phase which most likely is decades away, ref. my example how slow even the ERP-segment is moving. Still, in order to get there you first need middleware solutions that'll connect existing solutions with blockchains. Currently, what you have, is blockchain projects basically disguising themselves as blockchains while in reality they are ERP-systems disguised.
There is Oracle, SAP, Oodo, And those are just 3 huge enterprise ERP systems. We will need multiple blockchains. Like ERP systems, SAP is essentially a framework that can be customized to your needs. Blockchains will be no different between dApps and services. Most likely there will be a blockchain and dApps for non profit and NGO’s. Maybe something geared towards real estate , property, property management and services, titles, deeds etc. Another specialized use would be medical and dental records and services. Every use case in the real world is a potential blockchain.
1. I know how testing and measurements go, and what you'd expect after 5 years (in this case, 7 years in busienss!). I've built a company of my own doing stuff exactly like this (ERP systems, which is basically what blockchains need in order to work) and let's just say what Vechain is "turning over" in a day (AFTER 5-7 years) in vthor burn equated to about an hour of work we did for one single client. That's how little this network produces). 2. Blockchain is not as revolutionary as you may think. Most companies can verify anything simply by using whatever system they are using now and can build extensions to any blockchain and have their information stamped on the blockchain for immutability. Finished, done. 3. If you can't read their data numbers providing you with all you need, displaying what is complete lack of any continuity or consistency over such a long time, by all means, stick to your own fantasies Vechain, as many other projects, will display technical plays by big money. You are seeing it now. The prices are moving up on most projects because most projects have suffered 80-95% retrace off their ATHs, so traders are coming back to squeeze out more money from the gullible who think that every project is a success, and the dreams start over. 4. Oh, btw, OriginTrail is doing everything your Vechain promised they are doing, and more. This being just one single aspect, go check out [AidTrust](https://youtu.be/xdjsJHVHnUs) and [Multi-Mode Compliance and Standards Program (MMCS)](https://www.youtube.com/watch?v=j3IQKydFnPc&feature=youtu.be), a global standard for both shipping and deliverance of medicines, for the ENTIRE PHARMA INDUSTRY, developed by none other than BSI (British Standards Institute) and their partners. "BUT BUT BUT....BUT....Vechain, the lord savior of supply chains was suppose to do all this...how can this be!" Note that none of those people presenting in the videos are OriginTrail employees, they are BSI-developers, BSI-employees, BSIs partners and BSI clients who are present. Vechain doesn't even come close to this! Because I have background in this industry, I'm not distracted by flashy and fancy marketing, and I've done all the research I need. 5. Again, there is no way in hell Vechain will reach $1. You first need to learn about market caps, and realize, that Vechain with a network usage of $200 daily will never have a market capitalization of $70 Billion. Even traders and big money are not that stupid. Look at the chart from when the price reached $0,28. It was a selloff bonanza.
That sounds like shitty project management honestly. With well written documentation and well designed code, software doesn't become a black box. A million lines of telecom code has been more navigable than some ERP, so scale doesn't cause spaghetti.
It doesn't matter that barcodes and QR codes aren't unique. No ERP system is going to trigger a false positive for scanning a duplicate barcode since the first scanning will have already logged it into the software. All that'll happen is the ERP will spit out an error and then the person scanning has to spend 5 seconds manually typing the item into the software. I'm an industry professional so I really hate admitting this, but VeChain doesn't have much of a future.
Just popping in to say… there’s no need for a public blockchain for grocery stores. What they would need is a private blockchain… otherwise known as a good ol private database or something like an ERP system Useful maybe for authenticating valuables (like what VEChain is doing) [I don’t own any VET] but unnecessary for things that a retail user wants to know or should have access to
Hedera is a corporate blockchain that runs dual networks... It's XRP for ERP systems... You really should learn about the poroducts you're shilling before you do so. Now, take your "real world" elsewhere... You obviously don't understand this world. I'd be happy to educate you though
Not when you’re company buys an off the shelf ERP product from a vendor (SAP).
Corporations don't care enough about supply chain transparency to migrate over to a completely different ERP system on the off chance it'll help with visibility.
>At this point it’s hilarious. One last time. No one is saying they, being immutable databases, don’t have uses. They simply don’t have uses in ERP apps or planning apps meant to scale for high data volume. And again they excel.at storing facts, which is a subset of what happens in basic crud applications like ERP software. >You would think with how condescending you are, you’d be able to read better. Says the programmer who design planning systems and doesn't know what a fact is >And again, Kafka is immutable only in name. Entries can be changed/deleted and logs can be deleted. >Which is weird, any expert would know that. Of course you wouldn't understand Kafka either, partitions are immutable... We've already covered updates in immutable data stores. Kafka uses tombstones for deletes. >But seriously this is my last reply. Have a jolly time being a co descending prick! Yeah you started with being a.dumbass no surprise you quit when you realize you are out of your depth. Imagine thinking multiple databases doesn't scale, you heard it here people microservices don't work...
I actually find it hilarious that you still miss the scope of the discussion after I clearly write it 3 times. At this point it’s hilarious. One last time. No one is saying they, being immutable databases, don’t have uses. They simply don’t have uses in ERP apps or planning apps meant to scale for high data volume. You would think with how condescending you are, you’d be able to read better.
ERP DBs and application DBs are the same thing, given that ERP software is just a type of application and all you know. What I guess you may not realize is that some systems have more than one database because different domains and different problems have different solutions. We don't just have one > I literally designed planning systems for the last 5 years, but ok. Simple crud app with an API or web service to access it? Yeah that makes sense, it wasn't quite what I was referring to. Honestly, try the book: Designing Data Intensive Applications by Martin Kleppmann, you can find it for free on github or you can buy it, I recommend it to my newer hires as it exposes you to a wide range of technologies and concepts and explains trade-offs. I can't remember if it covers immutable databases but it for sure covers multiple forms of database so you will get exposure to different types of DBs
I was talking about ERP DBs and application DBs. Clearly your reading comprehension is very poor. I literally designed planning systems for the last 5 years, but ok. Whatever helps you sleep at night lol. You’re gonna think whatever you need to think in order for that ego to get fed 😂😂😂
Yes companies like at&t storing trillions of data points don't count. Same with Facebook and Netflix, these guys don't count either... Like wait until you realize even Kafka is immutable and append only, that can't be possible either right, that has exponential performance costs according to you... You are so hilariously ignorant because anything outside your tiny COTS ERP world doesn't matter. You never even need to think about system design because the product you customize does it for you and it really shows.
>Lol large scale data solutions and market share leading data warehouses aren’t immutable. I feel like you’re just arguing to argue or feel like you’re right at this point. Oh my god, no way. Are you telling me mass market solutions don't have the same problems as large companies that have orders of magnitude more scale. You've clearly never reached the boundaries of the tools you use. The idea that a good product may not work for your scale is incomprehensible to you. >You’re misunderstanding the currency example, because it doesn’t seem like you have much applied experience. Large companies do business in local currencies and generally report in USD. Every year you generally restate the historical data using new exchange rates. Yes, notice how you don't update the historical data, it's almost like it's immutable... you aren't going back and updating the original sale price every year or the exchange rate from > Yes you can cryptographically track and store historical values, but who cares? No one, that's why immutable databases don't do this, centralized systems don't need cryptography to store data. > There’s no value add here and the cost goes up exponentially. Read/write speeds and IOPS slow down when dealing with historical data that’s archived iteratively for large volume data sets, and on the fly calculations on large volumes aren’t fun or efficient either, even in memory. 1) the cost isn't exponential... it's actually the same as any database that tracks old versions of data. 2) read/write speeds are significantly faster. As mentioned contention isn't a problem 3) calculations are the same as other products. You fundamentally can't comprehend that of something sold for $100 on a day that stored data never changes. The stored exchange rates for a day never change either and figuring out the cost in today's dollars is the same as how you would do it in a same mutable data store. >Here’s a good one since you’re so experienced. Name a major ERP that uses an immutable database. As a top 3 SAP customer by data volume, I’m sure the data volumes you work with are much larger, and you didn’t just devolve the discussion into dick measuring. 😂 Well I work on custom frameworks that is used internally by thousands of developers to create high availability products that serve multiple millions of users. But yes, I'm sure as someone who customizes SAP you have similar experience with scale and various tradeoffs. Or maybe not since yesterday was the day you learned about immutable databases. You clearly don't have much exposure past the tools someone else told you to use. I tried being nice and explaining a cool product that's used in places but your ego can't comprehend how it would be useful since it doesn't exist in your small world. Here's a hint there's more you don't know than what you know and this is part of it.
Lol large scale data solutions and market share data warehouses aren’t immutable. I feel like you’re just arguing to argue or feel like hitter right at this point. You’re misunderstanding the currency example, because it doesn’t seem like you have much applied experience. Large companies do business in local currencies and generally report in USD. Every year you generally restate the historical data using new exchange rates. Yes you can cryptographically track and store historical values, but who cares? There’s no value add here and the cost goes up exponentially. Read/write speeds and IOPS slow down when dealing with historical data, and on the fly calculations on large volumes aren’t fun or efficient. Here’s a good one since you’re so experienced. Name a major ERP that uses an immutable database. As a top 3 SAP customer by data volume, I’m sure the data volumes you work with are much larger, and you didn’t just devolve the discussion into dick measuring. 😂
Your take is theoretical and not rooted in reality. As I said before, historical data points do change due to restatements. You generally have to restate past currency values to update them with current exchange rates. Historical data can also be changed due to footprint migrations. I get what you’re saying, you can continually change data by writing over repeatedly and keeping a cryptographic log, but this not realistic in high volume business or data scenarios. You would need a larger amount of computing power and storage for this and it’s not cost efficient. I’ve spent the first 7 years of my career working with ERP systems and planning databases in high volume environments. Immutable DBs aren’t used in this market for the reasons above. There’s no benefit and a huge cost hit.
No they literally are changing. Market conditions change hourly. For user data sure, for ERP immutable aren’t the way to go. Hence why they aren’t used.
VRchat already has people doing "ERP" for a long time.
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70% ETH, 10% LRC, 10% TRAC. And other shitty coins Like DOT, ICP, ANKR, COSMOS. TRAC is struggling now but will make me reach in 5 years replacing all ERP systems like SAP and ORACLE. Still little capitalization, wonderful applicable idea and huge potential. NFA. Just my opinion.
He does seem to overestimate how difficult it would be to implement another currency in Accounting and ERP software, which is one of his core arguments why Bitcoin should not be a currency. (Many, many companies and software packages do this already). I also think that his view that 'nobody would spend Bitcoin' is flawed, but it's possible he's simplifying his position for the sake of a talking point. (I agree with him in the short term, but not in the longer term). In general I agree with him about nearly everything though. His core arguments are strong and well thought out.
I wonder if large businesses use it to transfer currencies internationally though. I think its still not regulated enough or accepted by ERP systems to handle easily.
I understand your reasoning and it is similar to some of the big IT players. The main issue would be that those prime would want their own system implemented at their supplier. As soon as you cross the path of a common supplier (let's say Boeing and Collins) you will have to convince their boss to adopt both systems or an interface to manage them. Which is why I want to develop a layer on the top of their existing ERP/MES, not replace them. And also do it the other way around and start with the suppliers to make their life easier. Then when it will come to connect with the big players' system I will offer this service through an API. But I agree it is not easy and the execution must be flawless.
Certainly valid points you bring up. I see you mentioned aerospace so let’s pull that thread a little. Most of the money is in the big boys (Boeing, Collins, LM, Raytheon) which is where I’d put my focus into capturing. So you’d need a fully integrated MRP/ERP system to replace what they currently have. If I were king for a day I’d capture those primes and require their subs to use some stripped down portal where your crypto service would come into play. If the subs wanted to get a more robust version you could provide for them to use easily connect with the primes system. I’m sure you’ve gotten feedback from a few suppliers that this system would make their lives easier but most of these mom and pop suppliers don’t have the funds to implement that. I think the idea is sound just need to execute it correctly. I’ve seen some Solumina software try this (non-crypto route) but the execution was clunky and time consuming which suppliers will happily pass these time and cost delays up the chain.
I love how people criticise a solution without even having any sort of knowledge about the project and just rant on about personal opinion. I've made 4 DDs on OT here on Reddit. Your question is answered by Dominik Halbeisen from Swiss Railways where he addresses the very ISSUE of disparate ERP systems/legacy systems and how OT solves this problem; [Dominik Halbeisen explains why they've chosen OT solution. ](https://youtu.be/Rzk-Z9lFaG0) This video is almost a year old, but Dominik answers your question regarding using OT solution as a middle layer that helps solving the issue of endless need to always having to integrate one ERP system with another. I've worked on very complex Oracle NetSuite implementations, not your standard out of the box stuff, where my team is known among NetSuite devs and NetSuite as the guys who do things with NetSuite that noone thought was possible. Just to point that I know what I am talking about when it comes to what OT is doing. Learn to do research/DD before hammering on with criticism. You may sound as an intelligent person among those who have no idea themselves, but in this case you simply show lack in knowledge. No offence.
Real Estate NFTs would need to be able to split, recombine, contains geographical data, etc. Not impossible. But at the moment crypto is full of new projects trying to be the Next Platform, and doesn't have enough projects that solve a particular and specific problem. And often when they do, the use case is actually the developers proprietary software to interface with the their block chain or smart contract, rather than the being built in. The soft requirement for third parties in many cases hinders the decentralised aspect of crypto. Going back to your real estate NFTs, you need to make sure the chain has the functionality baked in. The geographic data decentralised within the chain, the use change functionality baked in, easy to write the deed contract in something approaching plain English between two parties, different lease, rent, mortgage, and ownership types baked in. If this functionality is not baked into the block chain or smart contract, then you need to rely on in-house development or a third party to interface with it. And by this point it's not necessarily worth the extra effort of implementation. I have not found a single crypto project so far that would benefit my existing customers over any of the functionality in their current ERP systems. Appendix: not every project needs it own token. I personally think this harms a lot of projects more than it helps, as folks often judge the project based on the token rather than the actual technical detail. Personal bugbear for this is VeChain.
XYO because of their focus on real-world applications in Supply Chain. I got my degree in Integrated Supply Chain Management (ISM) and have years of experience working with ERP (enterprise resource planning) software across numerous organizations in the manufacturing sector. In my opinion, XYO could quite literally revolutionize the way organizations manage things like inventory management, demand planning, and materials scheduling. Having said that, I personally don't expect XYO to really take-off until the next cycle. I purchased a bag and plan on sitting on it for the next couple of years. Another coin I'm really excited about is Bounce AUCTION. This isn't necessarily a tech play; but, the value proposition and use-case should make sense to anyone that's willing to do a little research. 2M circulating supply with a 10M cap, and funded by Coinbase Ventures. The fact that Coinbase recently announced their intention to start testing their NFT platform makes me VERY bullish on the AUCTION token. Keep in mind, I have zero evidence to prove that Bounce AUCTION will have any involvement in the Coinbase NFT platform; but, the connection to Coinbase Ventures is just too much of a coincidence for me to ignore. These are my opinions, not financial advice. Good luck!
You will see the future of metaverses in similar attempts like vr chat. Its neat but in the end it will be only used by very few and a lot of weird ERP dudes I think VR chat has more "secret" worlds than regular ones... by far
Well-reasoned response, but this response is missing Salesforce's extreme insterest in both Blockchain and conquering the entire financial pipeline. Thats why Salesforce has financialforce and has been allowing credit card companies to embed a widget directly in salesforce. Beyond that, each company has different rules, use cases and needs. Smaller corporations especially can't afford an ERP system, and now that blockchain and crypto are becoming wide spread, consumers are going to demand to get paid crypto, sales teams will demand to get paid in crypto (non-ERP), companies that have any type of IOT will want to get crypto embedded into some automation processes (non-ERP).
Interesting project but cash management outside the scope of Salesforce. Salesforce is primarily a CRM platform and not an ERP like SAP or Epicor. As such it has no native support for managing payments, bank balances, calculating deferred revenue, taxes, etc.. The flaw in the premise for Elongate is that cash management is part of the sales process. It's not, it's what happens after. Payment is the realm of customer service and accounting, not the sales or support teams. No account exec in an enterprise setting is going to be handling the invoicing of clients. Don't get me wrong, it's possible and I like the idea of where this is going. I love how extensible Salesforce is and that something like this is even possible for the platform but I fail to see widespread adoption by enterprise clients when they aren't using Salesforce to process transactions like this in the first place. So if it's not for enterprise clients, who is this for and what problem is it solving for them that isn't better served with something else? Those would be my two primary questions.
Sure thing. Enterprise focused. Backbone of baseledger, first functional chain modeled after the baseline protocol (well testnet running now, mainnet in q1 2022). There have been a couple big pilot programs, most notable with coca cola and service now (you'll see CONA, that's coke one North America). Will be used to bridge the gap between legacy ERP systems and Blockchain. Think streamlining procurement processes. Also things like enterprise DeFi, where assets (even accounts receivable, aka purchase orders) could be tokenized and lent out ( since the full purchase agreement is transparent and terms are guaranteed by a smart contract you can be sure that this asset will pay out given the terms are met - this is really kist scratching the surface here). Also to clear up any confusion, ultimately baseledger writes to a L1, currently Ethereum, in theory could be any protocol layer. Lots of good info out there. For more look up Provide (same company different product, it's the front end to baseledger basically), CONA pilot with unibright, service now and unibright, baseledger white paper, and baseline protocol ( tons of videos here, there's a recent one from September 1 with chico that corresponded with the test net launch). Chico also has a few videos specifically on unibright if that's your thing. Finally the unofficial telegram guys have a much better grasp of this stuff that I'm able to communicate and are generally pretty receptive to any questions (can be a bit culty there at times, but most of them have been around since < $0.10 so their furvor is a bit understandable
As far as I understand, OT can bring harmony to data exchange between disparate ERP systems, while also allowing a communication to more modern solutions such as technologies on Industry 4.0. I don't suppose a ERP from the 90s will suddenly be incorporating data from AI or IoT. But OT should enable these technologies to communicate pretty seamlessly, and allow new solutions to be built on top of that. That's my understanding anyway.
Blockchain ERP System designed for Manufacturing and Manufacturing Reps.