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Revolution Populi’s crypto clearing house could potentially super-charge the volume of crypto trading
The first action by RevPop in its quest to become a clearing house for crypto is the auction of its own novel currency, which will be a basis of participation in a new blockchain being built for social media. Revolution Populi One of the obstacles to crypto-currencies in the mainstream financial world is the absence of a neutral party to help banks settle trades in crypto by making sure that no counter-party reneges on a transaction.
That role, the so-called clearing house, is the goal of a band of tech and finance geeks who have developed a new blockchain database. Monday, they kicked off their clearing house quest with their own crypto coin auction.
“It’s a huge proof of concept for the blockchain to be used for a whole host of financial service applications,” said Rob Rosenthal, a co-founder of Revolution Populi, or RevPop, as the firm’s founders refer to themselves.
RevPop’s broader mission, as covered in ZDNet over the past two years , is to transform social media by enabling numerous “Facebook Killers.” RevPop is building an entire set of infrastructure to foster competing social networks.
Rosenthal, and co-founder Dr. David Gelernter, a famous professor of computer science at Yale University, believe […]