We’ve raised $8.7M to bring clearing to the masses. Our new round was led by Blockchange to work on the most powerful idea in finance.
It’s not just about moving money faster & cheaper; it’s about moving less while doing more.
Soon we’ll release the @cyclesmoney whitepaper on a new financial paradigm, so here's a few things you should know to prepare yourself.
We know that blockchains, crypto, and defi apps have long promised to replace banks and finance. But there’s a lot of problems with this 🧵
We’ve been quiet the last few weeks, putting the final touches on our whitepaper and new website.
The whitepaper is under review by many of our Cosmos & Ethereum friends
And the website is now live 🎉 cycles.money
We’re building the initial version of @cyclesmoney using the best blockchain tech stack around: @cosmos.
Our privacy architecture is built around a TEE-based CosmWasm sidecar process, with thoughtful protocol design to reduce TEE attack vectors, and with ZK proofs for integrity.
1/ We’re excited to announce that Andrew Miller joined our team last summer to lead Cycles protocol design, with a focus on secure privacy for payments and credit via TEEs & ZKPs. There’s few people better positioned for this kind of protocol design work than @socrates1024
Something incredible is happening among crypto OGs.
The realization that money is more than store of value.
That finance is more than the transfer and exchange of assets.
That there's a whole other side of the balance sheet.
Okay, I’m getting excited again by this whole “uninventing money”/“post-money” idea that Chris Goes, Ethan Buchmann, and Andrew Miller have been on about for years.
(WARNING: long rambling thread ahead with no “TLDR” summary.)
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Wonder what the killer use case of blockchains is? Cross-border payments? Fungible (or not) tokens? Decentralized global currency?
We’ll let you in on a secret. The killer use case is: atomic multilateral settlement.
What’s that? Let’s break it down👇
Cycles is the Open Clearing Protocol.
Mission? To clear the most debt with the least amount of money.
Why? To take down barriers in the global market of deferred payments, from trade credit, to rents, wages, interest payments, and beyond.
Too often the general discourse around technologies is counterproductive & unrealistic.
Instead of searching for the one perfect technology, it’s generally more fruitful to seek out powerful and creative combinations of proven and practical technologies.
This is where most of
Titans are attacking - and Paradis Island needs more walls!
FairyCycles combines MPC + TEE, giving users stronger walls to protect their confidential computations.
Read more about our work on secure MPC + TEEs with @cyclesmoney' Quartz SGX sidecar, here: github.com/Fairblock/fair…