Wednesday, May 24, 2017

Innovation in Timber




The excerpted and linked article below explores innovations in the timber industry in Australia. Authored by David Chandler, FAIB out of Sydney, Australia, the article serves as a reminder of the global nature of innovation in the built industry. Chandler, who is working to launch the new Center 4 Smart Modern Construction at Western Sydney University, also touches on issues related to integration and modernization of the built industry. You can follow the link above to donate to the cause and to learn more about the innovative new Construction Management program the University is launching.

The recent WoodSolutions workshops on tall timber buildings were a powerful indicator of just how fast and how far the transformation of construction is going in Australia and globally.
There were some impressive presentations and in their own way, each showed evidence of these changes. The big distinction in these presentations was that they were not just vendor self-proclamations of their achievements. This time we heard of independent measures.


Welcome to the Golden Rule Alliance

James L. Salmon, Esq.
Collaborative Construction
300 Pike Street
Cincinnati, Ohio 45202
Summary of Services and James L. Salmon's CV


Office 513-721-5672
Fax 513-562-4388
Cell 512-630-4446
JamesLSalmon@gmailcom












Monday, May 15, 2017

Fracking in Argentina




Shale oil and gas reserves abound globally. However, to date, only America has successfully tapped those reserves. Working diligently behind the scenes Argentina now appears ready to join the US on the world stage as a serious player in the shale gas market.

The article excerpted and linked below provides details.

The shale boom has thus far remained a uniquely American phenomenon (for a long list of reasons), but the issue of other countries replicating that success has always been a question of when, not if. Argentina’s Vaca Muerte formation contains the second-largest reserves of shale gas in the world behind China, and as the WSJ reports, those multitudes of hydrocarbons are attracting the keen interest (and capital) of oil and gas companies:


Welcome to the Golden Rule Alliance

James L. Salmon, Esq.
Collaborative Construction
300 Pike Street
Cincinnati, Ohio 45202
Summary of Services and James L. Salmon's CV


Office 513-721-5672
Fax 513-562-4388
Cell 512-630-4446
JamesLSalmon@gmailcom












Thursday, May 11, 2017

R3 Consortium's Distributed Ledger - Corda




A lot of interesting developments in the blockchain space.

The R3 Consortium, made up of a number of international banks, successfully syndicated a loan on its distributed ledger, Corda. While not a pure blockchain Corda deserves special attention as the banks developing it currently occupy the high ground in the fintech battle space.

Below is a link to the article that mentions the successful syndication experiment and a link to a blog briefly exploring Corda. Anyone interested in learning more should reach out and obtain a copy of the Corda whitepaper.



Welcome to the Golden Rule Alliance

James L. Salmon, Esq.
Collaborative Construction
300 Pike Street
Cincinnati, Ohio 45202
Summary of Services and James L. Salmon's CV


Office 513-721-5672
Fax 513-562-4388
Cell 512-630-4446
JamesLSalmon@gmailcom












Smart Contracts on the Blockchain




Smart Contracts Built on the Blockchain

James L. Salmon

Introduction

Entities interested in creating smart cultures, both internally and among their collaborative partners, need to understand smart contracts and how to deploy those smart contracts on a blockchain. Deploying these innovative new tools on a secure worldwide operating system promises to revolutionize business and government. In future articles AEC industry challenges such as pay applications, requests for information and other payment issues will be explored. This article, however, focuses on the basics.

Smart Contracts

Smart contracts reside on the cloud as code and self-execute when a triggering event occurs. Online bill payment systems utilize smart contracts. The due date of a bill triggers automatic electronic payment of the bill by executing prior instructions embedded in the code. Smart contracts leverage software to increase efficiency and productivity by automating workflow. The potential uses of smart contracts are legion, and limited only by the imagination of the drafters and, importantly, the appetite for risk of those entering into such agreements. Deploying smart contracts on a secure blockchain reduces those risks exponentially.

Blockchain

Blockchains themselves rest on a secure distributed ledger that enables the use of smart contracts. That ledger creates an immutable record of each transaction. As append-only databases these ledgers create the perfect audit trail, ensure transparency and accountability and, overtime, become virtually un-hackable. Bitcoin and other crypto currencies reside on such ledgers.

Emerging Worldwide Operating System

Intrigued by the value of the blockchain, businesses and governments are exploring the use of blockchain style ledgers as secure, worldwide operating systems. Multiple sectors of the economy, ripe for digital disruption, appear poised to launch innovative versions of these new WWOS in an effort to increase efficiency, productivity, security and transparency. These include sectors as diverse as finance, government, real estate, medicine and legal marijuana growers. For now, the AEC industry appears to be on the outside peering in at these new technologies.
Two big time players in this space are the R3 Consortium and the state of Delaware. Made up of 19 different members, all banks, the R3 Consortium controls a research lab that recently completed the origination and funding of a Syndicated Loan on a private blockchain called Corda. In 2016 Delaware launched the Delaware Blockchain Initiative whereby the state intends to record all government data on a state controlled blockchain, to issue, track and update UCC filings and, ultimately, issue, record and track stock ownership in Delaware Corporations.

Smart Contracts on these WWOS  

Deployed via distributed ledgers smart contracts harken the wide spread use of these new, secure WWOS on the web. Rather than a disparate collection of hackable information the worldwide web, informed by these innovative new WWOS, will become a dynamic, secure and efficient marketplace of information and ideas exchanged via smart contracts. From a public and corporate governance perspective, smart contracts written on the blockchain promise a revolution akin to those trigged by the signing of the Declaration of Independence and the creation the corporation. As secure public and private versions of these WWOS emerge the economic benefit of improved workflows, on a global scale, will benefit all of humanity just as the emergence of the worldwide web did over the past 30+ years.

Conclusion

The impact of these WWOS on global commerce cannot be understated. No sector of the economy, including the AEC industry, will be spared the digital disruption associated with the emergence of these powerful new tools. Contact James L. Salmon at BYH today to learn more!

Financial Institutions Move Closer to Realizing a Blockchain Solution for Syndicated Loans, Ipreo, March 30, 2017, accessed May 1, 2017 http://www.prnewswire.com/news-releases/financial-institutions-move-closer-to-realizing-a-blockchain-solution-for-syndicated-loans-300431763.html
Delaware Blockchain Initiative: Transforming the Foundational Infrastructure of Corporate Finance, Tinianow, Andrea and Long,  Caitlin, March 16, 2017, accessed May 1, 2017 https://corpgov.law.harvard.edu/2017/03/16/delaware-blockchain-initiative-transforming-the-foundational-infrastructure-of-corporate-finance/

Welcome to the Golden Rule Alliance

James L. Salmon, Esq.
Collaborative Construction
300 Pike Street
Cincinnati, Ohio 45202
Summary of Services and James L. Salmon's CV


Office 513-721-5672
Fax 513-562-4388
Cell 512-630-4446
JamesLSalmon@gmailcom