EOS Medici Chainstone

EOS Medici Chainstone is proud to present itself to the EOS Community as an EOS Block Producer candidate.

See our Steemit announcement here, our discussion here, and our listing here.

About

EOS Medici Chainstone is a joint-venture between Medici Ventures, Chainstone Labs, the parent company of Medici Ventures, Overstock.com and Portfolio Companies. Lead partners Bruce Fenton of Chainstone Labs, Patrick Byrne of Overstock.com, and Jonathan Johnson of Medici Ventures share similar beliefs in the transformative potential of the EOS platform, actively supporting the EOS community.

With over 1,800 employees worldwide, Overstock.com has been a leader in the blockchain community since 2013. Today, Overstock.com continues its leadership and support of Blockchain development through their Medici Ventures and tZero subsidiaries. Medici Ventures maintains an extensive platform of portfolio companies. tZero continues to develop their platform to become a tokenized-securities exchange.

Chainstone Labs is the parent company for Atlantic Financial and The Satoshi Roundtable, both of which are focused on the growth and development of the tokenization of securities. Founded in 1994, Atlantic Financial has offered Financial Planning and Asset Management to a number of individual investors, institutions, and family offices. The company hosts the Satoshi Roundtable, one of the industries’ leading events.

Technical Specs

Block Producer Servers
MAIN SYSTEM:
Processors: Dual Intel Xeon® 8180M Scalable processors, up to 28 cores per processor and 56 threads per core
Memory: 1.5 TB 2666MT/s LRDIMM expandable to 3 TB
Storage: 900 GB 15k RPM SAS x 8 SSD (RAID 6) – expandable
Network: 10/25 Gb/s fibre card
FAILOVER SYSTEM:
Mirror of main system

Full Node Servers
MAIN SYSTEM:
Processors: Dual Intel Xeon® 8180M Scalable processors, up to 28 cores per processor and 56 threads per core
Memory: 128 GB 2666MT/s LRDIMM expandable to 3TB
Storage: Boot optimized internal 2 x M.2 SSDs 240GB
FAILOVER SYSTEM:
Mirror of main system

IPFS Servers
MAIN SYSTEM:
Processors: Dual Intel Xeon® 8180M Scalable processors, up to 28 cores per processor and 56 threads per core
Memory: 64 GB 2666MT/s RDIMM expandable to 3TB
Storage: Boot optimized internal 2 x M.2 SSDs 240GB (system), up to 22 additional M.2 or 2.5” Hard drives for IPFS, Initial 10TB.
FAILOVER SYSTEM:
2+ Mirrors of main system

Deployment
Main systems deployed in Overstock datacenters by the same industry leading engineers responsible for Overstock.com with failover systems deployed in a secondary offsite datacenter.

Scaling
EOS Medici Chainstone maintains the ability to add additional servers as needed to grow in-line with overall the EOS network and community.

Community Benefit

The Securities Token Industry
Tokenizing securities is a major use case for EOS and a major transformative change which we believe will occur in the global economy. The current global market for tokenized securities is over $10 trillion. The key benefit of using a blockchain over the current systems is that it has the ability to radically reduce the complexity and layers currently required by the system.

The Current Securities Ledger System
Currently, securities ledgers are run through a complex network of broker-dealers, issuers, customers, registrars, transfer agents, clearing firms and other parties who all are communicating highly complex information in tens of millions of real-time trades.

To make matters worse for Wall Street, the hundreds of parties involved in keeping pieces of the ledgers do not trust each other to manage one primary ledger. Issuers are already trusted by shareholders however issuers cannot run the ledger either because in certain cases (such as activist held hedge funds or leveraged buyouts) the shareholders don’t even trust the issuer to know that they own the shares.

The system Wall Street and other major global markets are built on is based on continual incremental capacity speed and technology improvements on an essentially century-old system. As late as the 1970s paper shares were still delivered between brokers using bicycles and today hundreds of billions of dollars of trades are reported to custodians and figures ledgers using antiquated technology like FTP.

Medici Chainstone has a great deal of experience in this area and understanding of the extreme complexity and subtle nuances needed to update these antiquated systems with tokenized securities.

Medici ventures is the owner of tZero a fully licensed broker-dealer, ATS and partner of a national market system exchange. tZero owns SpeedRoute, a leading routing firm who works with hundreds of broker-dealers routing 20 million orders per day.

A blockchain can serve as an excellent alternative to a ledger run by a centralized trusted third-party. However, the actual implementation and usage of such a technology requires a great deal of industry know-how, legal and regulatory experience, operational licenses and numerous other expertise.

Community & Developer Meetups
With a presence in both New Hampshire and Utah, EOS Medici Chainstone is well suited to hosting general Community Meetups as well as Developer specific events to support the organic growth of the EOS community. Events that will draw upon the experience from hosting The Satoshi Roundtable and the FSBDAC in New Hampshire.

Team