(JaiChai) "Cardano and COTI, I understand it, BUT...."

Cardano and COTI.jpg

(image by coinquora)

Full Disclosure: I have always been a fan of Charles H. and the Cardano project. I still have some pretty full, ancient ADA bags.

However, I must confess that although I understand the COTI and Cardano connection, I am still a bit disappointed.

Don't get me wrong, it's a brilliant move.

COTI is a superfast, fully encompassing “finance on the blockchain” ecosystem. It is built on multi-DAG technology; meaning, FAST and scalable, and designed to meet the challenges of traditional finance.

COTI Cardano ecosystem.png

(image by cryptopotato)

COTI will be the platform for issuing Djeds (Cardano's algorithmic Stablecoin that's flexible enough to adapt to any country's currency).

It's just that, IMHO, COTI with its strict KYC and blatant centralization (probably 'cause of the historical vulnerabilities in security of all previous DAG platforms) appears to be a digital version of a Central Bank; the antithesis of Cardano's apex position in crypto decentralization.

Cardano's first Stablecoin.jpg

(image by IOHK)

I just wonder if COTI's "training wheels"; that is, the ONE full node and other 12 partial nodes, will - if ever - relinquish their watchdog, "monitoring role" when the multi-DAGs are sufficiently propagated.

I guess even Charles has to make concessions to keep pushing the Cardano project forward. And he did promise this kind of function for those in heavily regulated environments.

But I thought the solution was going to be a "privacy-centric" (aka ZK-Snarks quality) protocol with owner assigned levels of security.

Stated differently, all personal KYC information is dispersed on a "need to know", case by case transaction basis using a privileged access model assigned by each individual user; that is, an owner designated, permissioned access to KYC metadata.

(Heavy Sigh)

Oh well, who am I to say...

DJED by COTI.png

(image by Medium)

In Lak'ech, JaiChai

JC Be the Crypto.jpeg

(JaiChai 18 OCT 2021. Simultaneous multi-site submissions posted. All rights reserved.)

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