Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Aye to that OB.
You are right about the huge income they get from their managed funds and then they sell their own annuities at the end.
License to print money.
In the short term it will reduce the costs of financial transactions. The big players will not want to pass that on to the customer but the neo banks will and we will be one of them with a platform for use by all.
Here's to a good week ahead.
HI Jiffy
Your one of the informed posters who has done their research and try to pass that on.
All I can say is that the Dinosaurs have been riding the gravy train and will not want to give it up.
Unfortunately for them they will either have to accept that the party's over and adapt or go extinct.
As for GST I would not be too concerned if the API transfer was not ratified by the 31st as the FCA are notoriously slow but in my experience they are not against progress but their due diligence takes time and they are after all there to protect the consumer.
Hi RK, great post and very interesting.
Re: 'There will be others who will implement their systems but the Financial Dinosaurs are already scared and must know their days are numbered.
Why do you think that is? Is it because they will not embrace Blockchain?
I guess that’s why a lot of us are here…
Excellent post by Rktech - most pi’s don’t understand blockchain technology and recently Central banks across the world are exploring the potential for shifting parts of their payments systems on to blockchain technology.
Rktech you are clearly a clever individual. I enjoy reading what you have to say and there's always something I can learn from you.
Coalculus will address the problems associated with blockchain for financial systems.
1) Scalability or how can you increase the number of users and their customers by having a parent/child system.
2) Data bloat.......transactions from the child chains are compressed and bundled into the blocks of the parent.
3) Speed........Proof of stake is instant whereas proof of work takes time to validate the transaction.
4) Power wastage........Proof of work requires many nodes all competing in a pointless guessing game to ensure security and the amount of power goes up as more mining nodes get involved and the mining difficulty increases as their can only be one new block mined every ten minutes in the bitcoin protocol for example.
Proof of stake is virtually instant as the node that forges the block puts up a value many times what it would make if it tried to cheat and falsify the data.
Blocks are said to be forged in POS as opposed to mined in POW.
5) The multichain system allows transactions to take place in FIAT or Crypto or chocolate buttons if you want to assign some value to them.
There will be others who will implement their systems but the Financial Dinosaurs are already scared and must know their days are numbered.
For example Standard Life, Prudential and especially AVIVA are resisting the new pension Fintech's like Pension Bee and are being investigated by the FCA for malpractice......Just a heads up for any shareholders.
Have you noticed incidentally how many adverts there are for the likes of Western Union, VISA and again especially AVIVA trying to put out some kind of cuddly image for their malodourous products like equity release, FX transactions, Payments in general, Pension Annuities............etc........the list goes on.
We all know they are are just a pack of Barstewards who want to profit from the gullibility of their customers.
Fintech gives Value for money which is something they don't want.
The times are changing and the new Fintech will inevitably win out whilst the Dinosaurs will either adapt or go extinct.
RK thanks for the info However I have read it twice and still not really sure what it all means but hopefully I’ll know what it means for me soon !!
Wow just read your second post fantastic information thank you for sharing it with us all
It has certainly helped me understand the process better .
Can’t wait for Monday to add some more .
I think the plan always was to acquire a company with an API.
The next step will then be to include the blockchain technology into the transaction system and get that accepted.
Whilst the FCA do not like Bitcoin this is not a cryptocurrency but just uses blockchain technology which is already accepted by the financial community as being efficient, secure and the future in so many different aspects of the internet of things including Fintech.
The coalculus platform uses Jelurida tech and their Ardor system.
Ardor is an open source multichain platform launched on 01.01.2018. Its unique architecture was designed from the beginning to overcome existing blockchain technology problems and ensure scalability. Ardor’s advanced design introduces a parent - child chain system where the network security and transaction processing for the entire platform is provided by the Ardor main "parent" chain while all the business-ready functionality is present on the permissionless and permissioned child chains.
This architecture has three fundamental advantages:
All child chains have their own native tokens, used as a unit of value and for paying transaction fees, and a variety of ready to use features
Scalability is achieved by pruning of the unnecessary child chain data once they are included in the permissionless Ardor parent chain, preventing the "bloat" of the network
All child chains are connected and share the same source code, ensuring ecosystem interoperability that allows child chain token trading to one another in a fully decentralized way and transactions on one child chain to access data or entities on another
All transactions of the child chains are included in the parent Ardor chain thanks to the bundling system - a process that groups several child chain transactions into parent chain blocks and enables application owners to sponsor transaction fees for their end users.
Ardor uses a 100% pure proof-of-stake consensus algorithm which makes it energy efficient - significantly reducing the hardware requirements for securing the network. The Ardor parent chain token, ARDR, is used for forging - the generation of new blocks and network consensus. ARDR forgers receive the transaction fees from the blocks they forged but no new ARDR coins are created.
What's not to like.
I believe you lget an RNS Not this Friday as previously stated by me but the Monday following.
Best wishes to all, its been a long haul .
Schalf
either on or before or the 31st October,
Ok, this is my own personal view on the completion aspect re the 31st October dateline.
Given that the company has already and explicitly announced a date of the 31st October, then I am expecting at the very least an update/announcement, either or before or the 31st October, even if it is a simple conclusion of the DD exercise and requisite RNS , so that task DD exercise then becomes ticked off.
So, as far as the FCA approval is concerned, yes we may have to wait beyond the 31st, who knows?.
Having said that, I also think that our directors are reasonably confident of API approval, otherwise why would they abandon their original own API application process in the first place?
GLA.......... let's hope we hear soon on the approval of the Angra buyout ,and more importantly a transfer to GST of the API licence... which would happen by default anyway given that we are buying the company.
Cannot see a reason for it to fail, IMHO.
GST have good intentions and are very adroit when giving information.
inter alia, meaning 'among other things', when you want to say that there are other things involved apart from the one you are mentioning......
For me personally you can either Jump in and out and endure the highs and lows but in the long run I feel the guys in charge have been busy setting up the same protocols in the past, making other companies a great deal of money. They have now decided to create the own company in an industry that is accelerating at an incredible pace. The potential gains from this business model are obscene so I'm happy to play with my crypto and save this for a rainy day. It will either fly to the moon or return to a below penny stock. Only time will tell.
Good luck to all.
Riches are within your reach......
Okay….Let’s get the facts right shall we, so as not to create any negativity on this board (or any more anyway).
It is just the final due diligence that is expected to be done by the 31st October 2021, not the acquisition of Angra as we would all like.
From the RNS….
“Completion of the Acquisition is conditional, inter alia, on final due diligence, which is expected to be completed by GST by 31 October 2021, and also on GST obtaining approval from the FCA for the change of control of Angra, a regulated entity”.
So the final due diligence is expected to be completed by 31st October 2021 and also, it may not be. So people shouldn’t bank on this.
Plus, nobody knows how long the FCA will take to approve the acquisition…2 weeks? 2 months? If people state that it is going to be done and dusted by next week and it isn’t……well, the share price will tank back down and we don’t want that.
Now cue the abuse and deramping accusations lol
Yes, I am invested here. Yes, I am in profit and I would like to stay that way.
GLA
So I have a date for my multi bagger… excellent;)
Not on but by the 31st.