At CRDZ we feel that cryptocurrencies are striving to gain mainstream traction but failing because of the absence of decentralized commerce. As we see it, there have been three waves of cryptocurrencies...
The first wave was anoncoins. Their central innovation was the decentralized validation of asset transfer. The wave began with Bitcoin, but it’s since been overshadowed – in a technical sense – by Ethereum, and a number of other anonymous tokens.
All anoncoins are intent upon complete anonymity. They believe it’s the only solution to liberating finance from the inefficient centralized institutions that currently control it. In some part, this belief is a reaction to the unscrupulousness demonstrated by many of those institutions, much of which was highlighted by the GFC.
But while the goals of anoncoins are worthwhile, they share what could be considered a fatal flaw. They allow for an entry into unrecognized transactions, which violates the basic principles that protect society from crime, and individuals from financial exploitation.
The second wave has been made up of institutional initiatives, of which Ripple is the most prominent.
The aim of Bankcoins is to empower banks and other centralized financial institutions to facilitate peer-to-peer transactions.
This wave adopted the label of decentralized cryptocurrency, but depends on centralized permissioned networks to govern outcomes. This wave, rather than trying to allow for free financial innovation, is displaying an intention to control it.
It seeks to constrain innovation within the institutions that maintain the inefficient bank practices that anoncoins want to get away from.
The third wave, is the emergence of solutions which will liberate the potential of cryptocurrencies and see their widespread adoption. It would fulfill what the first wave couldn’t. This wave takes as its foundation the decentralized ethos underlying the early Internet and cryptocurrencies, and expands upon it.
Articles and studies which predict that the fundamental advantages of decentralization will result in a newly decentralized Internet are many. This theory lies behind the promise of Bizcoins, which are cryptocoins designed to enable easy adoption by users and businesses.
We see CRDZ as being part of this movement, as it’s a decentralized commerce platform designed to unleash the potential of any business. Key to its design, is how it offers access ramps to customers that are independent of regulations.
CRDZ is a decentralized platform that addresses every core issue that has prevented the development and adoption of commercial services. It is a censorship resistant, decentrally governed public network which enables confidential, identified use and confidential (jurisdictional) compliance.
CRDZ is a crypto-initiative, focused on a decentralized commercial platform that embraces the core tenets of crypto: censorship resistance, user privacy, consensus enabled governance, prevention of government overreach, and elimination of institutional dependence.
Developers intent upon cashing in on the transition from centralized to decentralized applications will be enabled to unleash their imagination, unhindered by the the restrictions inherent in unregulated anonymous platforms.
Any business, government or financial institution can participate by way of confidential compliant transactions and organization driven token initiatives, while benefiting from a common base of attested credentialed users
There are many moving parts to CRDZ, but here are some key components:
Critical to business acceptance is giving organizations the ability to confidentially coexist on a common chain.
Confidential regulatory reporting obligations – defined within the Compliance Council's constitution – will liberate service providers from regulatory reporting. This will reduce costs and ensure accurate reporting.
By introducing regulation-free access ramps, CRDZ will leverage the power of organizations to grow the network. Any business, large or small, will be able to contribute to user adoption, free of the regulatory conditions that impede existing crypto initiatives.
OHC (Self Sovereign Credentials) are the pinnacle of any blockchain initiative intent upon enabling expeditious, confidential access to services and secure asset based transactions.
Anonymous transactions – which too easily enable theft and extortion – will be replaced by identity driven security. This will release the potential of blockchain technology and increases confidence in its sustainable future, while also providing confidence to both CRDZ investors and the CRDZ community.
Developers implementing smart contracts will be able to choose between Ethereum’s Solidity and other favored languages relevant to their application.
Confidentiality works both ways, CRDZ has determined methods that protect users’ identities and transactions from unconstrained inspection and yet offers regulators ‘Need To Know’ access to suspicious transactions (SAR's, STR's).
Critical to the success of crypto initiatives is the ability to grow the network without undue regulatory interference and potential legal recourse. CRDZ access nodes (herein known as Pioneers), are liberated from regulatory responsibility or recourse.
There are many crypto initiatives created with an anonymity-first approach, but very few that have been designed from the ground up to serve the needs of commercial privacy. CRDZ is an exception.
The potential inefficiencies of decentralized governance will be alleviated by community sanctioned councils of expertise, operating under code-enabled constitutions. Councils facilitate the efficient filtering and refinement of a community endorsed prioritization of proposals.
Every pioneer on the network will earn rewards when participating in the consensus model. This will attract more pioneers because they’ll see the advantages of growing the reach of their own services while contributing to the diversity and robustness of the network.
There are real issues facing the current crypto market, and it’s important to address them if we want it to truly realize its potential and disrupt our world for the better. One of the more significant issues are the wild fluctuations we see in the price of cryptocurrencies, which are a result of a number of factors:
Anonymous coins have little or no intrinsic commercial value. There are rare exceptions, but most can’t purchase anything apart from other cryptocurrencies, which severely limits their utility.
So long as there is a lack of adoption of cryptocurrencies as an alternative means of exchange, they will remain primarily instruments for speculative investment. Much of the current interest in them is based solely on the prospect of making short term, massive profits.
The lack of security in the crypto space is obvious. We’ve seen it in the hacking of exchanges and user wallets. But perhaps the most spectacular examples have been the collapse and bankruptcy of major exchanges, such as Mt Gox and Youbit (South Korea), where client investments were wiped out.
Banks are impeding the buying and selling of crypto. Recently, some of the world’s largest banks announced that customers are now prohibited from buying cryptocurrencies with credit cards. Other banks have refused to process transactions specifically related to cryptocurrencies.
There are governments and regulatory bodies looking to impose harsh regulations on cryptocurrencies. Some are taking more drastic steps, such as moving to ban anonymous cryptocurrencies completely – as recently seen in China and India.
CRDZ cares because we hold an unwavering belief that blockchain technology can solve real business problems, but that this will only be achieved if business and users have confidence that the technology meets the needs of basic commercial transactions.
Widespread adoption will ensure intrinsic value. Once we have broad, serious commercial adoption of identity-based cryptocurrencies as a valid form of exchange, price volatility will slow, speculation will become less profitable and there will be more market stability. Prices will be more reflective of the utility the currencies deliver to everyday users, as well as the underlying value of their business models.
Retail Performance $$
Here we focus on the critical importance of decentralized commerce as the foundation for adoption of cryptocurrencies. Our conviction is that unless commercial motivation is behind adoption driving services, very little will be accomplished.
There are some fundamental issues with the underlying protocols of today’s current crypto technology, which are at odds with what businesses and users consider critical. Most importantly anonymous tokens don’t support:
We believe identity is the basis for commercial use, trust, mainstream adoption and inevitable commercial success. Critical to identified use and regulatory support is confidentiality and KYC methods used for confirming the validity of the transacting party However until a user’s credentials are under their control, rather than in trusted centralized systems, privacy will continue to be an issue.
By its very nature blockchain is open and all transactions are stored and visible in the public ledger. So whilst it speaks to anonymity, blockchain actually provides pseudonymity instead. This may be acceptable to some users but for business this is untenable. This type of data, customers, suppliers, other contracting parties, sales, transaction volumes and values, is considered sacrosanct and at the heart of competitive advantage. They can’t put their faith in a network which could reveal confidential data.
As a result of the recent investment in cryptocurrencies by the general public, regulators will play an increasing role in protecting investors. Many consider it impossible to support the tenets of a liberated financial system and the needs of the regulator, but to ignore the importance of regulations, is to deny business a role in developing the market for decentralized technologies.
Commercial development cannot commence until such time there is a platform that supports credentialed use, confidential coexistence of participants and regulatory support. The absence of credentialed use means developers are unable to target a shared base of increasing users, and as a consequence services that attempt to build siloed identity demanding applications, atop an anonymous platform, fail to garner the network effect that would be possible with an credentialed enabling platform.
Security of transactions and money is paramount before businesses and users will trust their credentials and transactions to any platform or infrastructure. We have witnessed many examples of compromised security at all levels within the current crypto ecosystem. From users losing their private key data and not being able to access wallets or hackers stealing funds direct from user and exchange wallets.
As a consequence of anonymous cryptographic addresses, transacting using anonymous platforms is complex and risky, as a result of having to identify recipients independent of transacting network. While those seeking to circumvent transaction detection will tolerate complexities, mainstream commercial users won’t.
CRDZ addresses the core paradoxes that currently prevent widespread commercial use of decentralized chains. The CRDZ solution enables businesses and users to co-exist on a common platform. That enables businesses coming together to solve bigger problems for their users and because of this each business becoming a lead for each other’s products and services. A platform where we have devised a balanced solution to maintaining a user's privacy whilst enabling jurisdictional, confidential compliance.
Common Credentialed Users
Common Credentialed Users
An exploration of the key constraints to widespread adoption and insight into how CRDZ is enabling adoption
The most common way for users to access cryptocurrencies is via exchanges, as banks to date deny direct exchanges due to a lack of regulatory endorsement. The risk hanging over the heads of cryptocurrency enthusiasts is the perilous nature of exchanges, which are vulnerable to hacking, corruption and regulatory action. It is certain that regulators will clamp down on exchanges, even if we don’t know the particular events that will trigger the clampdowns.
Users want things to be simple, so it’s essential their experience with blockchain services is intuitive, and as easy to use as other payment systems. This is very far from the experience of today’s cryptocurrencies. They remain very complex, requiring a fairly high degree of technical sophistication to use. As a result mainstream users and businesses are not prepared to embrace them.
Users will only engage with a new technology or service if it provides an improved value proposition. Instead, even the most basic commercial services are difficult to implement on cryptocurrencies, as any form of identified use requires extra layers to be placed on top of existing anonymous platforms. There are hundreds of so called ‘killer apps’ waiting to be developed but they need the conventions of commerce to be respected, i.e. identified confidential use and confidential compliance.
CRDZ has a strategy for addressing each of these challenges. In the first instance the platform is targeted at developers, as we understand the importance of providing utility to broad user communities in order to entice them to the platform and ecosystem. On CRDZ, developers can contribute services to a common pool of users, and users can manage their own credentials on a compliant chain.
To prove the appeal of CRDZ to developers, a CRDZ associated team is currently working on a compelling service for a significant market. This offering is the subject of a planned complimentary ICO.
Adoption of CRDZ will be expedited, as businesses of any size can act as access ramps and replace regulatory demanding gateways. This will remove friction by deferring KYC obligations until transaction conditions actually demand user verification.
Having customers transact on a blockchain will give businesses insight and knowledge of their customers, without having to own the customer data. Both developers and businesses will be incentivized to participate in the ecosystem, which encourages their commitment to the longer term success of the project.
Here we address the challenges facing regulators, and introduce the innovative approach that CRDZ takes to ensure compliance without sacrificing privacy.
The meteoric rise in the price of cryptocurrencies, and the surrounding hype about amazing profits, has seen a number of hopeful everyday investors jump into the market. Unfortunately, many of those same investors then experienced spectacular losses in the first part of 2018. Given the size of the market, its volatility, and the potential losses for regular, uninformed investors, regulators need to take note and recognize the risk associated with anonymous coins and tokens.
Regulators protect investors – and indeed society – from illicit activities and unfair, and manipulated markets, while supporting and encouraging innovation. Contrary to some crypto purists, we believe that a healthy and sustainable long term cryptocurrency market will benefit from the protection regulation brings. We also believe regulatory compliance can be achieved while protecting user privacy. The key is to maintain user privacy while giving regulators access to suspicious transactions.
Regulators are currently enforcing KYC and AML/CTF regulation on exchanges. This approach seriously compromises the effectiveness of the regulatory control, as users are only one step from anonymous wallets and unreported transactions. Equally compromised are identity based tokens sitting on top of anonymous chains, as these enable identified holders to transact with anonymous tokens, free of potential regulatory detection. Unless presented with effective alternatives to anonymity, regulatory action like that seen in China might become more common, and cryptocurrencies would fall victim to their own intransigence.
CRDZ offers regulators confidence that all transactions can be scrutinized and that any and all suspicious transactions will be reported on an almost real time basis. With CRDZ, it is the blockchain and not the ramps that are regulated.
This means scrutiny and subsequent reporting is from the source and not an intermediary. So there is no opportunity for users to easily move from a regulated exchange or gateway, to anonymous unregulated channels in an effort to avoid scrutiny.
Current practices are a compromise for regulators. The CRDZ solution eliminates that compromise and provides them with the ability to set minimum compliance standards for all other blockchains transacting in their jurisdiction.
Unregulated Access Ramps
Network Secured by Any Business
Unregulated Access Ramps
Network Secured by Any Business
One of the critical foundations of blockchain architecture is decentralized control, where no single institution, group or individual controls the chain or the way in which it operates and performs. This is a very different approach to centralized control. Good governance is critical in a decentralized world. As more users and businesses adopt the technology, there needs to be an effective mechanism for ensuring continuous evolvement of the platform. Decisions need to be sound, fast and reflective of the wishes and needs of the broader community of users, not just a select few.
rapid decision making, clear direction
reliance on leadership, suppression of innovation and corruption
community contribution, transparency, and a plethora of ideas/proposals
unproductive noise from too many opinions, consensus paralysis
Our approach to governance adheres to the principles of decentralization but introduces structure and processes that eliminate the disadvantages of that approach and so attains the advantages of a centralized model.
In the CRDZ model we have decentralized “councils of influence”, with elected members from the community who operate under a specific constitution with code enforced frameworks. These councils will streamline the process of proposing, vetting and enacting change to the blockchain. In our model, decisions are made quickly as we use an exceptions based acceptance concept.
Consensus: Any Business Can Participate
Government Can Engage
Financial Institutions Can Engage
Consensus: Any Business Can Participate
Government Can Engage
Financial Institutions Can Engage
We are a group of passionate individuals with a shared belief that the full potential of Blockchain technology can only be unleashed if businesses are empowered to drive consumer adoption for mainstream commercial applications. Applications that can be supported and accepted by applicable regulators.
It takes a special team with a unique blend of visionary, technical, business, and marketing talents to be able to conceptualize the new world of opportunities, design an innovative solution, build the best possible platform, provide regulatory comfort around it, and then instill the the wider world with the confidence to adopt the new reality.
We have been building such a team, one that has the skills and experience to accomplish every aspect of the required solution.
John co-founded CRDZ to fulfil his passionate desire to have “my life in one place where every single thing I need to have is there on my device and I can immediately and easily retrieve it.” You can’t do that without having a decentralized, credentialed platform and supported ecosystem which is where CRDZ came about.
With in-depth experience in developing strategy and technologies for online consumer and telecommunications services, he sets the overall vision and strategic orientation for the business and guides the team in developing innovative solutions to significant social and economic challenges that.
John has a rich history of embracing emerging and disruptive technologies and approaches. He has owned and operated software services and product companies reliant on emerging technologies to build mission critical applications for the world’s largest corporations, founded companies on Wall Street, in Australia, Hong Kong and Malaysia and has built thriving, online provincial communities in the Philippines. He has been invested in blockchain technologies for the last 4 years.
John has an extensive network with relationships extending from Hong Kong to New York and which includes Rockefeller, Kravis, Paulson Chasen, Waxman and other notable New York investors.
Over the years timing has been a dominant factor in determining success. John is convinced today the technology, the opportunity and the need are ideally aligned to maximize disruption. And CRDZ has the answer for decentralized commerce, a key enabler for having your “life in one place"
Susan has been delivering complex change programs, running sizeable operations and managing client delivery contracts for many years across a number of industries, but dominated by financial services and technology. She has direct start up experience, worked with multinational organizations as well as specialized SMEs and understands the intricacies, challenges and operational requirements within each of these structures.
Susan’s strong operational and client delivery experience will be essential for ensuring CRDZ has the underlying structures, processes and service standards in place to deliver exceptional service.
As the Technical Lead, chief architect and manager of the technical roadmap, Paul is head of all technical aspects of the business.
Paul is known for his extraordinary insights into emerging and real time developments in leading edge technologies and methodologies. He has a history of successful executive oversight of the development of crypto, human resources, banking and telecommunications systems for major Financial Services, Telecommunications, E-commerce and Cyber Security organizations.
With his IT systems development background, including driving solution architecture and operational resilience, Paul will draw upon 25 years leadership experience to ensure that all of our products are scalable, best of class and operationally resilient.
Paul has lived and worked in some of the world’s major financial centres, including Wall Street, Singapore and Hong Kong.
Siva leads the marketing activities for CRDZ, working with the team to ensure key messages are on point and delivered through the most effective channels to maximize exposure, raise awareness and stimulate investor and end user take up.
A serial success story having built and sold two boutique digital marketing agencies which are still delivering online profiles and revenue channels for some of Australia’s premier brands across many industries and offerings. Siva brings his insights and experience to CRDZ developing our branding and integrated marketing presence, elevating us above the noise.
Managing the communications with investors, capital markets, partners, regulators and the broader market will be key as too will be ensuring we are delivering clear, accurate and timely messages to all stakeholders.
Gerrit has a distinguished background in investment banking and equity and capital markets in Europe and South East Asia with some of the most prestigious firms in this market.
He fully understands the working of these markets, how they assess opportunities and how to stand out from the crowd. Most recently evidenced by co-founding an avant-garde new styled fund management firm, built on non-traditional, accepted industry ‘norms and expectations’. A new market entrant that launched without an established team of experienced fund managers, the usual minimum capital base or respected industry profile, which challenged and contradicted the conventional approaches to valuing businesses on data other than that derived from financial statements.
With expertize in understanding market trends, developing, communicating and implementing strategies to capitalize on these together with cross border management experience, Gerrit brings perspectives of the merging of conventional and crypto markets and the necessary strategies for maximizing blockchain investment initiatives.
Nigel brings his experience in payment services and gateways to the design and management of our cryptocurrency wallets and payment solutions for all aspects of the broader CRDZ ecosystem.
Nigel has worked in the payment services space delivering innovative online payment solutions and ecommerce portals to companies in Australia, Japan and the Philippines with multiple currencies and payment methods. Working with payments systems means Nigel has valuable knowledge in security and privacy requirements which are also key aspects to our innovative solutions.
Further to that Nigel has led the research and development of experimental systems, as well as converting prototype projects into production-ready systems.
He has a unique blend of technical skills and business experience in payments, subscriptions, high volume transaction processing systems and recruitment solutions.
Brian Lynch is a senior media producer with 15+ years experience spanning Europe & Australia. He specializes in making the complicated simple, creating innovative ways to get across the core message of the video.
Having been an avid investor in both Bitcoin and Altcoins since 2015, he is a firm believer in the power of blockchain technology and is excited about the enormous potential CRDZ brings to this space.
Social media is where Influential conversations are had and where breaking news is heard first. Therefore it is core part of our marketing strategy and Evan’s primary role is to develop and run our social marketing campaigns.
Evans has 7+ years experience delivering digital marketing strategies and campaigns having worked as a freelance consultant and more recently with one of the world’s largest and most trusted media and digital marketing communications companies.
Evan is a born and bred advocate for all things digital. He brings complex digital marketing experience to CRDZ in order to strategically develop our branding and integrated marketing presence, elevating us above the noize.
Mark has over 20 years experience as a software engineer building enterprize level software across a number of industries. Working in the online space for two decades, Mark became fascinated with UX and how people interacted with internet services. He developed specialization in the area of UX design well before it became the hot topic it is today.
Mark discovered decentrlized technology back in 2013 and has become a devout believer in a new decentralized economy. An economy that enriches all participants, powered by autonomous, democratic, meritocracies and decentralized services free of all centralized overheads.
Girard is a writer and editor with a decade of experience. He has worked with clients as diverse as Vice, HRM, and CommSec Financial Advisory Services.
He’s written about alternative uses of blockchain — including its ability to dramatically improve the recruitment process — and is keen to explain the future of the technology to mainstream audiences.
Scott leads our software development team based in the Philippines. He is a seasoned Technology Executive with over 30+ years international experience working at the junction of business and software innovation and has been leading Philippines based teams to deliver complex software solutions for a number of years.
Scott has significant experience and insight at both the strategic and execution level across all facets of technology but notably with UX, product design and development as well as marketing new technology solutions. He leads a talented team of developers with blockchain experience who will be delivering our proof of concept and production ready platform.
Every organization needs a Beth. Someone focused on orchestrating opportunities and coordinating all the moving parts to connect potential investors, influencers and business development teams together ensuring we maximize funding potential. Living in Silicon Valley and being the consummate networker, Beth brings years of making things happen, with a network that stretches from San Francisco to Hong Kong and Singapore.
Consensus / Mining