What is the OODA Loop?


The OODA loop (Observe, Orient, Decide, Act) is a strategic framework for decision making. It was a concept developed by USAF Colonel John Boyd, and was first presented in his briefing “Destruction and Creation”. We use it in our consultancy practice to assess whether an organisation has in place the appropriate frameworks (how they think about things) and methods (how they do things) to guide their decision making. It is used as a decision making troubleshooting tool.

What is loan collateralization in crypto?

Loan collateralization occurs when crypto borrowers use their crypto tokens to secure a loan. This happens when a crypto investor deposits tokens from their wallet into a loan smart contract. In return the loan smart contract creates or “mints” a stablecoin typically. This stablecoin is the loan. The token that was deposited is the collateral.

What is the relationship between triple entry accounting and the blockchain?

In the double-entry accounting system, at least two accounting entries are required to record each financial transaction. The limitations of these principles have led to the rise in fraud and the increasing dependency on auditors to establish the accuracy of the entries.

Then in 1986 triple entry accounting was conceived by the late Yuji Ijiri, a professor at Carnegie Mellon University. It was an enhancement to the traditional double entry system in which all accounting entries involving outside parties are cryptographic sealed by a third entry. The applications of this triple accounting technique has now gone on to power the blockchain and the crypto industry.

Cryptolocally is a decentralized fiat onramp into crypto

If you are sick of
paying high transaction fees to banks and centralized exchanges
having to deal with stupid KYC processes
and governments being able to snoop in on your financial activities
Then check out Cryptolocally. It uses a non-custodial escrow deployed as a smart contract on the blockchain to facilitate trades between individual users who want to buy and sell fiat currencies and crypto currencies in a safe and secure peer to peer manner.