1/18 Advice from the heart: Stop being a mere speculator with little control over his own future and become an empowered entrepreneur. The smart contract revolution is here. Let me share an example of how you could create superior products that might generate income/profits.
2/18 @chainlink will provide many entrepreneurial opportunities to those that paid attention. A new ecosystem is being built that will become the enterprise-grade standard for corporations to do business with one and each other, and create superior products for their customers.
3/18 Some truly smart people have already undertaken the first steps: projects like @linkpoolio, @Fiewsio, and @clcgio have been some of the first to truly see the underlying potential, and thus have been building upon this new ecosystem. They will profit, and so could you.
4/18 Here is an example I will share freely with all of you. You are free to use it if you believe this is a sound idea. Maybe it is not sound but could still inspire others to improve it. Maybe someone is already building something alike. Whatever the case, here goes:
5/18 Chainlink´s acquisition of #TownCrier has expanded the tech capacities of the oracle network due to the Trusted Execution Environment (TEE) nodes. TEE nodes are secured hardware based on @intel #SGX that can compute data without any party knowing what that data is.
6/18 Once TEE nodes are operational we could have smart contracts creating BTC wallets. The TEE node would be the sole entity to control the private key that was generated. This means that the smart contract would be in control of the BTC wallet, and the Bitcoins stored within.
7/18 We could thus create date/time triggered BTC TX smart contracts. For example, when the clock turns 12:00am on the 07/12/2021, @chainlink oracle nodes connected to API date/time providers will trigger the smart contract to transfer the Bitcoins to another wallet or exchange.
8/18 Instead of date/time, the BTC transfer could be triggered by reaching a certain price at a certain exchange. Once BTC reaches xxx price on XXX exchange, @chainlink oracle nodes will trigger the smart contract to execute the BTC transfer to XXX wallet or XXX exchange.
9/18 Now here is why we would create such a product. Imagine you own a substantial amount of Bitcoin, but you are not confident that you will be able to hold onto your Bitcoin assets until it reaches what you envisioned, due to “weak hands”, the need for emergency liquidity, etc.
10/18 This tech product will prevent YOU (and anybody else) from doing so, because the smart contract is the only one in control of the private key, and it will not execute the transfer until triggered by real-life events, like a certain date/time, or price valuation.
11/18 Here is another reason: cryptocurrencies like BTC change the way we control our money. Basically, the person that holds the private key is the owner of the BTC contained within the wallet. This turns the owner into his own bank/vault, and his own “single-point-of-failure”.
12/18 Unfortunately, we have seen that criminal elements have targetted cryptocurrency holders because it is easier to hack, force, or steal a private key from an individual than it is to break into or hack a bank. Criminals love to choose the easier path...
13/18 By making use of this product you will be able to feel completely secure because hackers won't be able to steal your private keys or force you to give up your private keys under pressure because only the smart contract with TEE will be in control of the keys.
14/18 Whether you fear to sell too soon, or you fear being hacked/robbed, you can protect yourself with this tech product. You would be able to lock up your funds until a certain date/time or price is reached. Untouchable until triggered as coded. Deterministic and trustless.
15/18 What if you could build and sell these services through a UI website with this running in the back-end? A trustless, tamperproof, deterministic, and audited smart contract triggered by a decentralized oracle network, written on a decentralized smart contract platform...
16/18 Another use-case is heritage, whereby upon death the smart contract is triggered to transfer the BTC to its heirs. How this real-life event (a person's death) will be triggered I don't yet know, but it is or will most certainly be made available in the near future.
17/18 This “Heritage smart contract” could also trigger Fiat payments in the near future thanks to #psd2 and #Swift. These smart contracts are probably already being discussed by companies/projects like @OpenLawOfficial, @ClauseHQ, and @RocketLawyer, and if not, take note ;)
18/18 Possibilities will be endless. Now is the time to bounce ideas around, and become a business-minded person, and create superior products. The only question will be: will you be a part of this creative process, or will you just stay on the sideline. It is up to you...
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