ICON utilises Hedera Hashgraph to achieve the gold standard for security in the field of distributed consensus: Asynchronous Byzantine Fault Tolerance (ABFT). Other platforms that use coordinators, leaders, or communication timeouts tend to be vulnerable to Distributed Denial of Service (DDoS) attacks against those vulnerable areas. Hashgraph is resilient to these types of attacks against the consensus algorithm, and achieves the theoretical limits of security defined by ABFT. Achieving this level of security at a scale of hundreds of thousands of transactions per second is a fundamental advance in the field of distributed systems and it is the gold standard for security in this category.
Many applications require that the consensus order of transactions match the actual order in which the transactions are received by the network. It should not be possible for a single party to prevent the flow of transactions into the network, nor influence the order of transactions in the eventual community consensus. A fair consensus algorithm ensures that if a user can submit a transaction to the network at all, then the transaction will be received by the network and the order in which it was received will be a fair ordering. Hashgraph uniquely ensures that the actual order transactions are received by the community will be reflected in the consensus order. In other words, hashgraph ensures both Fair Access and Fair Ordering.
Formal proofs of the ABFT and fairness properties for the hashgraph consensus algorithm exist and have been available for public review since June, 2016. Furthermore, the hashgraph algorithm has been validated as ABFT by a math proof checked by computer using the Coq system in October, 2018.
Creators and Custodians of Intergenerational wealth readily acknowledge that new statutes and regulations targeting their wealth ensures that Privacy and Compliance are top of mind. There are four states of Privacy including:
In 2010, as part of FATCA, US Congress enacted new disclosure requirements for specified foreign financial assets (“SFFAs”). The types of reportable assets include: direct holdings of stock in foreign entities, interests in foreign funds, depository accounts, custodial accounts, or interests in financial institutions.
In 2018, the CRS was adopted across the G20 requiring the name and identifying number of the reporting foreign financial institution (FFI) as well as the name and the account number, year end balance, address, tax identification number, date and place of birth of each reportable person.
Interestingly, Gold held in a custodial account maintained by an FFI (bank) would be considered reportable, however, Gold held in an independent vault or safety deposit box is exempt from declaration provided (i) the vault is not in an FFI (bank) or (ii) the storage arrangement is not a financial account.
ICON CAPITAL RESERVE SA is not an FFI.
Fibonacci’s Golden Mean is a mathematical formula that permeates the fractal design of our world from subatomic DNA structures the patterns of the stars in the universe. The Golden Mean is embedded in the architecture of our most iconic buildings from the Great Pyramids to Sydney’s Opera House. Since the dawn of humanity, Trusted Sacred Symbols found in places of worship have been generating carrier waves that are literally broadcasting information.
Trust can be traced to the neurobiological activity of our human brain. Our increasingly complex world slows decision making, so we use heuristic defaults like intuition and common sense to help the process. Gold has become the heuristic default for 6000 years because across geography, language, culture and economics, it is the numeraire that the entire world agrees on. Gold is Value.
The stock of Gold refers to the available c200,000MT mined throughout history and the flow refers to the c2,700MT mined annually. Mathematically, Gold has a stock and flow ratio of 1.35%. The stock of our Planet refers to the c7.45b inhabitants and the flow is a net 80m people added per year. Mathematically, Humanity has a stock and flow ratio of 1.20%. As people move up through Maslow’s Hierarchy of Needs, they create surpluses that are stored in a trusted reserve asset like Gold. Hall’s Law suggests that the stock and flow ratios of Gold and Humanity have been correlated for centuries and the ratios are immune to manipulation.
ICON CAPITAL RESERVE SA (“ICON”) established in 2013 to empower UHNW and Family Office Private Clients to create, trade and reserve value using Gold and the Blockchain has agreed to acquire 5% of BIOHAX INTERNATIONAL (“BHX”) also established in 2013, as a leading Blockchain powered company offering human embeddable technology protecting digital identity.
Jowan Osterlund, Founder and CEO of BHX noted “Peo Stromberg, who leads Business Development for Hedera in Europe connected ICON CEO Brad and I and something just clicked, as we spoke for 90 minutes on our first call discussing various pains and cures in technology and how solving the KYC challenge was a company maker for those that figure it out. Brad quickly understood that our injectable biochips provide immutable KYC and rather that being about big brother or conceding control, the BMX solution offers complete sovereignty over identity which is powerful. Relatively quickly, Brad suggested investing in BHX and we jumped at the chance to align and also pick up some shares in ICON. We have also taken onboard his montra of ‘the future has arrived it just isn’t evenly distributed’ and are benefiting from his subtle guidance as we enroll new customers and investors.”
J. Bradley Hall, Founder and CEO of ICON commented “Jowan was facing a potentially lethal threat that many highly disruptive innovations face, namely fear. Technology is not good or evil, it simple enables. When German goldsmith Johannes Gutenberg invented the printing press 376 years ago, I don’t believe he was trying to topple the important information repositories that Churches, Temples and Mosques represented however, the leaders then certainly thought so. In spite of resistance, knowledge became decentralized, manifesting the Age of Enlightenment. The Chinese used Gutenberg’s tool to create precious metal backed, printed money and fused it with their own innovation, gunpowder to create inter-generational wealth and dynasties.”
Jowan added “When I described the frenzied excitement or frightened response I get from those first exposed to our injectable chip sets, Brad laughed out loud and noted that was the same response he got when he began advocating for a pending fusion of Gold and Blockchain that would become AUREALS™, a 1 gram weight and measure of fully reserved, digital Gold. He said when keynoting global, family office events starting in 2013 ‘Most of the audiences thought I had just beamed down from another planet’ and that he could relate to what we were going through. He decided to back my vision in a small but meaningful way and said ‘Together, let’s put the power of identity back where it belongs’.”
Brad observed “Identity and KYC are certainly hot buttons but I believe that focusing on the Blockchain as some sort of magic, is misguided. It is like giving a 5 year old a mobile phone without a network connection. After about a minute, what was cool becomes useless, unless you add a connectivity. IBM’s PC’s were ornaments until Microsoft (MS) offered them DOS and then changed the game, when they embedded Windows software on OEM devices. Sir Timothy John Berners-Lee created the ultimate geek club with the World Wide Web but the internet was unleashed when Netscape re-imagined his browser and Google began to index the treasure trove of information. The next wave of innovation is being constructed with distributed ledger technology (DLT) but simple ledger entries that act like ‘claim checks with nothing to claim’ will revert to their intrinsic value of zero, as Voltaire noted all fiat currencies do and powerful replacements representing assets and cash-flows will take center stage.”
In closing Hall noted “I think it was Bill Gates who said ‘There will always be banking but not necessarily banks.’ There is a bit of an arms race going on in financial services and in particular in payments where DLT based solutions like AUREALS™ are disrupting incumbents as the command and control hierarchies of the last 70 years begin to decay and implode under their own weight. In terms of Gold, a trusted store of value with a 6000 year legacy, I think Ray Dalio founder of Bridgewater Associates put it best when he said ‘Those who don’t allocate 10% of their portfolios to Gold, don’t understand history, economics or probably both.’ It seems the future has arrived and IT IS getting a little more evenly distributed.”
For further information:
ICON CAPITAL RESERVE SA was established in 2013 to empower UHNW and Family Office Private Clients to create, trade and reserve value using GOLD and the Blockchain. ICON is built on a foundation of Security, Discretion and Trust.
The Company has fully invested in future-proof software and encryption to create AUREALS™, a fusion of GOLD and the Blockchain that insulates holders from currency, institutional and systemic hazard.
ICON has established successful Private Client relationships in Europe, Asia, GCC, CIS and the Americas (excluding the USA) for several years. AUREALS™ were initially built with the Colored Coin Protocol of the Blockchain and have been updated, now offering AUREALS™ (ERC20) and CINTAMANI™ (ERC721) as smart contracts on Ethereum.
The Company has begun aggregating a USD$500m war chest to establish DLT leadership through a buy and build strategy built around AUREALS™ a fully Gold reserved, digital clearing and global reserve currency.
About BIOHAX INTERNATIONAL:
BHX started when Redhat Magnus Glantz and Jowan Österlund implanted biosafe NFC circuits for proof of concept. From the novelty of being able to open a door or activate a smart home, to hands-free checking out from the cafeteria the goal is to eventually eliminate the need for plastic cards and other disconnected physical tokens of identity and proof of value. In addition to ICON, BHX has secured partnerships and strategic alliances with companies like distributed ledger leader Hedera Hashgraph, and Verisec, a Swedish company providing secure Global E-ID.