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Blockstream Reveals Massive Bitcoin Mining Facilities, Fidelity An Early Customer

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On Thursday, blockchain technology company Blockstream revealed details related to their massive Bitcoin mining data centers in Quebec, Canada and Adel, Georgia. The facilities account for a combined 300 megawatts worth of energy capacity, and they’re currently available for hosting enterprise-level mining activities, in addition to Blockstream’s own mining operations.

Blockstream plans to open their facilities to smaller scale miners in the future. For now, two of their active customers include Fidelity Center for Applied Technology and LinkedIn founder Reid Hoffman.

The size of Blockstream’s mining facilities cannot be overstated. According to Blockstream CSO Samson Mow, the facilities would account for roughly 6 exahashes of Bitcoin mining power if used at full capacity with the latest ASIC mining hardware. This would have equated to 10% of Bitcoin’s total network hashrate less than a month ago, according to BitInfoCharts. However, the Bitcoin network hashrate recently skyrocketed to around 80 exahashes this week.

In addition to their mining centers, Blockstream will soon launch the first mining pool with a focus on putting more power back into the hands of individual miners via the BetterHash protocol.

Blockstream Concerned About Bitcoin Mining Centralization

According to a company blog post, Blockstream first got into Bitcoin mining due to concerns around the centralization of the industry back in 2017. At that time, the activation process for Segregated Witness (SegWit), which was a capacity increase and bug fix for the Bitcoin network, had become politicized by Bitcoin miners in the eyes of many Bitcoin developers and users.

Concerns related to Bitcoin mining centralization were recently discussed on a panel at the Bitcoin 2019 conference in San Francisco. Genesis Mining CEO Marco Streng explained why Bitcoin users should be more alarmed about the level of centralization in mining, while longtime Bitcoin developer Matt Corallo did his best to point out the issue may not be as bad as it seems at first glance.

Notably, Blockstream CEO Dr. Adam Back, who was cited in the original Bitcoin white paper, also spoke at the conference regarding his thoughts on the future of Bitcoin and other cryptocurrencies alongside Yugen Partners Chief Scientist Dr. Scott Stornetta, who was also cited in the Bitcoin white paper.

Putting Power Back in Miners’ Hands

In addition to pushing for the geographic decentralization of Bitcoin mining, Blockstream’s upcoming mining pool should be helpful due to its use of BetterHash. The BetterHash protocol, which was developed by the aforementioned Corallo, solves a key issue with mining centralization in that it allows individual miners to choose which transactions go into new blocks rather than the mining pool operators.

While Bitcoin mining is rather centralized in terms of mining pools, the picture looks much better in terms of the diversity of entities that are actually operating the hardware. Putting individual miners in control of transaction selection means collusion in terms of transaction censorship, blockchain reorganizations, or other types of 51% attacks on the network would be much more difficult.

Braiins also recently announced a new mining protocol, called Stratum v2, that offers a similar upgrade in terms of the decentralization of transaction selection (based on Corallo’s work).

When asked why Blockstream decided to go with BetterHash rather than Stratum v2, Blockstream CSO Samson Mow stated, “Stratum v2 seems to still be in the discussion phase, and we started with BetterHash months ago.”

Some critics may argue that implementing BetterHash while also developing large Bitcoin mining data centers may be a bit of a contradiction in terms of promoting decentralization, but Mow pushed back on this argument when reached for comment.

“I don’t believe Blockstream Mining poses centralization risks,” said Mow. “If anything, Blockstream Mining serves to decentralize the Bitcoin mining ecosystem in many ways. We’re self-mining with just a small portion of our available power, with the rest allocated to customers, and we have plans to make the hosting service available to smaller miners that otherwise would not be able to mine effectively. Also, by leveraging the BetterHash protocol in our mining pool, all of our customers can run their own full-nodes and build block templates. This means the pool cannot use their hashrate for censoring transactions or falsely signaling readiness for Bitcoin protocol upgrades – which has happened in the past as with SegWit2x.”

Even with these concerns around Bitcoin mining centralization, some U.S. lawmakers are convinced they would not be able to ban Bitcoin.

On the other hand, Facebook’s Libra cryptocurrency project would be much easier to manipulate, regulate, and control. That said, multiple members of the Bitcoin industry have pointed out the roundabout ways Bitcoin could benefit Facebook’s Libra.

That said, even if improvements are made to the decentralization and censorship resistance of Bitcoin from a technical level, the reality is the digital cash system still faces a serious regulatory issue in terms of its use as a payments mechanism due to the way in which the crypto asset is taxed.

Follow me on Twitter. Check out my website.

I’m a writer who has been following Bitcoin since 2011. I’ve worked all over the Bitcoin media space — from being editor-in-chief at Inside Bitcoins to contributing to Bitcoin Magazine on a regular basis. My work has also been featured in Business Insider, VICE Motherboard, and many other financial and tech media outlets. I’m mostly interested in the use of Bitcoin for transactions that would be censored by the traditional financial system (think darknet markets and ransomware) in addition to the use of bitcoin as an unseizable, digital store of value. Altcoins, appcoins, and ICOs don’t make much sense to me. Find all of my work at kyletorpey.com. Disclosure: I hold some bitcoin

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Aion Network Launches First Blockchain Virtual Machine on Java – CoinDesk

Aion Network, a non-profit aiming to “rebuild an internet that puts users first” through broadening the use of blockchain, announced a new virtual machine built on top of the popular Java Virtual Machine (JVM).

This marks the first blockchain virtual machine available to Java developers.

The Aion Virtual Machine (AVM) is not a modification or rewrite of the underlying JVM, but a supplementary software layer that can interact with the JVM as developers build decentralized applications and smart contracts above it.

Java provides a secure, transparent, scalable, and easily-deployed environment for those unacclimated to the crypto-landscape. This is fits Aion’s mission statement to promote more extensive use of blockchain.

By employing a commonly used language like Java, Aion CEO Matthew Spoke hopes to surmount one of the largest barriers to widespread blockchain adoption: terra incognita.

“We made the strategic decision to leave the JVM intact so we could fully leverage the mature ecosystem around it,” said a company representative in a blog. “Leaning on a hardened language like Java was crucial since a major obstacle for a business interested in Blockchain is the cost and time needed to train their teams on unfamiliar frameworks, languages, and tools.”

To this end, Aion also provides blockchain education and onboarding through Aion Learn and Aion University. Billed as a collection of engineers, academics, designers, and entrepreneurs – aligned with a singular, altruistic mandate – the network provides a catalog of developer tools and application templates, as well as mobile API’s and software development kits.

“We have a unique opportunity to build a foundation for the future economy. Aion is our contribution to that future; and we need the best and brightest to work alongside us to make it real,” said Spoke, on the network’s website.

The Aion blockchain utilizes multiple tools already popular on the mainnet, which provide accessibility and redundancy in the public network.

“Aion aims to become the common protocol used for these blockchains, enabling more efficient and decentralized systems to be built. The Aion protocol enables the development of a federated blockchain network, making it possible to seamlessly integrate dissimilar blockchain systems in a multi-tier hub-and-spoke model, similar to the internet.”

The native currency, AION, facilitates transaction fees for miners of the network. It has a current market cap of $60,495,358 USD, according to CoinMarketCap.

Code image via Shutterstock

Source: Aion Network Launches First Blockchain Virtual Machine on Java – CoinDesk

Why Use a Blockchain? By Maria Kuznetsov

As the implications of the invention of have become understood, a certain hype has sprung up around blockchain technology.

This is, perhaps, because it is so easy to imagine high-level use cases. But, the technology has also been closely examined: millions of dollars have been spent researching blockchain technology over the past few years, and numerous tests for whether or not blockchain technology is appropriate in various scenarios have been conducted.

Blockchain technology offers new tools for authentication and authorization in the digital world that preclude the need for many centralized administrators. As a result, it enables the creation of new digital relationships.

By formalizing and securing new digital relationships, the blockchain revolution is posed to create the backbone of a layer of the internet for transactions and interactions of value (often called the ‘Internet of Value’, as opposed to the ‘Internet of Information’ which uses the client-server, accounts and master copy databases we’ve been using for over the past 20 years.)

But, with all the talk of building the digital backbone of a new transactional layer to the internet, sometimes blockchains, private cryptographic keys and cryptocurrencies are simply not the right way to go.

Many groups have created flowcharts to help a person or entity decide between a blockchain or master copy, client-server database. The following factors are a distillation of much of what has been previously done:

Is the data dynamic with an auditable history?

Paper can be hard to counterfeit because of the complexity of physical seals or appearances. Like etching something in stone, paper documents have certain permanence.

But, if the data is in constant flux, if it is transactions occurring regularly and frequently, then paper as a medium may not be able to keep up the system of record. Manual data entry also has human limitations.

So, if the data and its history are important to the digital relationships they are helping to establish, then blockchains offer a flexible capacity by enabling many parties to write new entries into a system of record that is also held by many custodians.

Should or can the data be controlled by a central authority?

There remain many reasons why a third party should be in charge of some authentications and authorizations. There are times when third-party control is totally appropriate and desirable. If privacy of the data is the most important consideration, there are ways to secure data by not even connecting it to a network.

But if existing IT infrastructure featuring accounts and log-ins is not sufficient for the security of digital identity, then the problem might be solved by blockchain technology.

As Satoshi Nakamoto wrote in his (or her) seminal work, “Bitcoin: A Peer-to-Peer Electronic Cash System”: “Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable.”

Private key cryptography enables push transactions, which don’t require centralized systems and the elaborate accounts used to establish digital relationships. If this database requires millions of dollars to secure lightweight financial transactions, then there’s a chance blockchains are the solution.

Is the speed of the transaction the most important consideration?

Does this database require high-performance millisecond transactions? (There is more on this point in our guide: “What is the Difference Between a Blockchain and a Database?”).

If high performance, millisecond transactions are what is required, then it’s best to stick with a traditional-model centralized system. Blockchains as databases are slow and there is a cost to storing the data – the processing (or ‘mining’) of every block in a chain. Centralized data systems based on the client-server model are faster and less expensive… for now.

In short, while we still don’t know the full limits and possibilities of blockchains, we can at least say the use cases which have passed inspection have all been about managing and securing digital relationships as part of a system of record.

Authored by Nolan Bauerle; images by Maria Kuznetsov

Source: Why Use a Blockchain? – CoinDesk

Boston Fed Announces Plans To Design a Blockchain ‘Supervisory Node’ – Anna Baydakova

The Federal Reserve of Boston is starting a new blockchain experiment this summer.

The Massachusetts state regulator has been one of the earliest and most involved government bodies to dip their toe into the new technology. It has been quietly developing blockchain systems since 2016 but has said very little about their plans.

Now the first results of those trials are out and the Boston Fed published a white paper on its proof-of-concepts on ethereum and Hyperledger Fabric. Now it’s getting ready for the next stage, Boston Fed’s vice president of IT Paul Brassil told CoinDesk.

The team is going to look into possible opportunities to set up a “supervisory node,” a regulatory surveillance tool that should be able to connect to various banking blockchains in the future. This node will watch the money flows and settlements between different banks, Boston Fed’s senior vice president Jim Cunha said.

“If you look at the future, there might be one blockchain that is holding securities, one that is holding derivatives, one is holding cash or interbank transfer — how do you as a supervisor watch the traffic on all these platforms that also will be on different technology?”

Cunha adds, that Boston Fed is not looking at these explorations from a policy standpoint and that is expects to work with the central Federal Reserve on these rules. But in the meantime monetary authorities have to keep apace with the technology development.

“We are surrounded by very large financial institutions and banks and we know that all of them are experimenting with the blockchain technology. So the more we can work with them and understand their roadmap, the more we know that we’re moving in a right direction,” Brassil said.

First, the Boston Fed plans to set the agenda and determine the main direction of this experiment and the work on this ideological part will start as early as this summer. Cunha said there are no plans yet for the publicly releasing the project.

“Right now there is very little research on it, so our next goal is to look into what an audit node look like,” Cunha said. “What kind of data we should have access to, how to interact, how to update nodes, can you create operational problems with it? What kind of coding you will need to do to store the information about the movement of funds, so you can do analysis of the flows. We are really starting from scratch.”

In the future, it could be possible that we will see multiple blockchains by various banking institutions, Brassil said, so the Fed’s supervisory node should have a technical capacity “broad enough to cover all the platforms.”

“Startup in the basement mentality”

Boston Fed started blockchain technology trials back in 2016 by experimenting with ethereum. At that time, there were no specialized blockchain developers on staff, so the team of coders educated themselves watching relevant videos on YouTube. Cunha and Brassil called it their “startup in the basement.”

During that period, developers tried to put depository institution balances under the Boston Fed supervision on a blockchain and create mock transactions — a kind of a blockchain-powered back office model. They conducted the testing first on the ethereum blockchain and then on Hyperledger Fabric. In the end, the latter was considered a more suitable option.

Why did they pick Fabric? first of all, a permissioned blockchain is preferable for a government entity. Among other challenges, the necessity to maintain a supply of ether to pay gas in transactions complicated the task and they were also worried about speed limitations.

“The time necessary to create a block was slower than could be tolerated in a production environment,” the white paper said.

Now, with the project of the blockchain back office on hold and the “supervisory node” experiment in the pipeline, Boston Fed is hiring some professionals to ramp up its blockchain testing, Cunha told CoinDesk.

“We are trying to add stuff to do something more robust internally, we need more dedicated resources,” he said. The new blockchain team will not be large, though, only “a handful” of people.

Boston Fed is also actively talking to other monetary authority bodies, though Cunha and Brassil won’t name the particular institutions. That said, they are excited to spread the word about the project.

“We have to share information because the whole industry needs to educate itself,” Cunha said.

Image of the Boston Fed office — courtesy of the Boston Fed. 

Source: Boston Fed Announces Plans To Design a Blockchain ‘Supervisory Node’ – CoinDesk

World’s Largest Business Organization Embraces Blockchain

The International Chamber of Commerce counts members from 130 countries among its ranks.Getty

From the embers of World War I emerged a new kind of organization, led by entrepreneurs, committed to ensuring the free flow of goods across the world’s war-ravaged borders.

The International Chamber of Commerce, whose mission is to streamline global business, is one of last vestiges of the League of Nations, founded in 1920 by U.S. President Woodrow Wilson to peacefully settle international disputes. By 1923, following the League’s lead, the ICC had established international courts to arbitrate business disputes, and in the aftermath of WW II, it represented global business interests at the Bretton Woods conference, which established the current monetary order.

“If goods are able to move across borders without the need to be accompanied by troops,” says John Denton, the ICC’s current secretary general, “there is a higher probability of peace and prosperity.” The Paris-based group, which represents 45 million businesses in more than 130 countries and brands itself the world’s largest business organization, is now making its boldest play in a generation.

With global borders hardening once again, this time behind border walls, broken unions and looming trade wars, Denton signed an agreement with the Singapore-based blockchain startup Perlin Net Group to explore how the technology, made popular by bitcoin for its ability to move value without banks, could help the ICC continue its mission to facilitate the free flow of goods.

“We can trace back the ICC interventions that made a big impact on the global economy in the 20th century,” says Denton, who was a fellow at the Australian Institute of International Affairs before being appointed secretary general of the ICC last year. “We think this might be one which we can look back on in 100 years and say the ICC shifted blockchain in a way that enabled the private sector to function more effectively in a sustainable way and actually create more opportunities for people.”

According to the terms of the agreement, part of which was shown to Forbes, the ICC and Perlin will create a new group, the ICC Blockchain/DLT Alliance, a reference to distributed ledger technology similar to the blockchain that powers bitcoin. The companies are exploring how Perlin’s blockchain platform, which has yet to publicly launch, could be used to shine a light on obscure supply chains and simplify cross-border trade finance.

As part of the agreement, the ICC will help Perlin recruit members to its nascent blockchain alliance, specifically by making introductions to the organization’s massive member pool, which in addition to most national chambers of commerce includes direct membership from companies like Amazon, Coca Cola, Fedex, McDonalds and PayPal. Also, as part of the agreement, Perlin will join the ICC as an official technology partner, offering free access to its blockchain platform during the early stages of the project.

Denton shared his plans with the ICC Banking Commission at its annual event in Beijing earlier this week, and the agreement, which was signed on March 20, will be formally announced at an ICC event in Singapore later today.

Unlike some early blockchain consortia, the ICC Blockchain/DLT Alliance already had projects under way when it was announced. According to the agreement, the ICC and Perlin will share the results of their first blockchain proof of concept, a collaboration with the fabric giant Asia Pacific Rayon (APR), in May at the Copenhagen Fashion Summit.

For that project, called “Follow Our Fibre,” APR is logging data in the blockchain at every level of its supply chain, from the trees that are harvested to the chemical treatments that turn them into the silk-like rayon substance through to the massive spools that are later sold to clothing producers.

“Globally, there is a dynamic shift in the textiles and fashion sectors calling for a more traceable and transparent supply chain,” says Cherie Tan, vice president of communications and sustainability at APR. “Follow Our Fibre will enable us to leverage powerful blockchain functionality to drive greater efficiencies.”

Other proofs of concept in the works that stand to benefit from the ICC partnership include a project with Mfused, a cannabis processor in Washington State that is using Perlin’s tech to prove the origin of its plants by recording every level of its supply chain, from when they are planted to when the cannabis is inhaled, in a shared, distributed ledger; a project with an unnamed tuna processor in Latin America; and a developing project in Africa to trace the origin of cobalt, which has a long history of being mined by unethical supply chain participants.

Assuming enough supply chains are unified on the Perlin blockchain, businesses could log digital representations of the commodities, called tokens, on the platform. This will enable the counterparties to trade directly, with bills of lading required to move freight and letters of credit, which are typically handled by banks, all tracked directly on the shared ledger.

“An interesting economic model is we could effectively launch governance around this,” says Denton. “If we’re able to tokenize this we could insert ourselves as the trusted intermediary, and there would probably be an admin charge, but not much.” A 2018 report by the ICC, the World Bank and others found that 90% of the world’s trade finance was being provided by 13 banks, something Denton thinks is evidence of a need to decentralize.

Perlin’s blockchain, like ethereum’s, is being designed to let users track and move all kinds of value and write distributed applications (dapps) that don’t rely on centralized processors. Also like ethereum, Perlin will have a native cryptocurrency, called perls, which are expected to be minted over the coming three months or so, depending on regulatory considerations.

While supply chain management is increasingly seen as ripe for disruption by blockchain, models like Perlin’s, which rely on tokens, have had difficulty gaining traction as regulators clamp down on what is required of such tokens. By contrast, models using permissioned blockchains, such as what IBM is doing with a number of industry-specific consortia, and what R3 and Hyperledger are doing more generally, are seeing broader interest.

Perlin founder Dorjee Sun positions the nascent ICC network as similar to competing consortia but for small and medium-size businesses. “This is a massive democratization effort of DLT, because now any company of the 45 million ICC members can give the benefits of DLT a try,” says Sun. “Not just massive companies that can afford IBM’s services.”

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I report on how blockchain and cryptocurrencies are being adopted by enterprises and the broader business community. My coverage includes the use of cryptocurrencies su

Source: World’s Largest Business Organization Embraces Blockchain

This Ex-Googler Built What Is Now A $6 Billion Business And Raised $400 Million For His Next Company

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Many entrepreneurs seem to struggle with following what they are passionate about, versus creating startups just for the money.

Mohit Aron went with passion, co-founded a company that successfully completed an IPO with a valuation of more than $6 billion today, and has raised more than $400 million for a second venture which has already surpassed the billion dollar valuation.

After getting his Ph.D. from Rice University in Houston, Mohit made the move to the Valley. After a stint at Google where he was one of the early employees, he has gone on to create highly impactful ventures that have become a large part of the DNA of our tech today.

In a recent appearance on the DealMakers podcast, he shared his take on following your gut, when to go solo (and not), why you should sleep more, how to incubate a winning startup idea and the algorithm for hiring great leaders (listen to the full podcast episode here).

Google, Hyper-Convergence & Taking Time to Think

Mohit was one of Google’s early tech guys and received, as a result, Google shares at $2 per share. He was responsible for managing a team that had the goal of innovating in the file storage space. Selling those shares gave him financial freedom, and refusing just to stay comfortable he ventured out into building companies from the ground up himself.

Mohit takes a very different approach to cultivate startup ideas than most. Rather than jumping on the first idea, running with it and then getting an office, he has taken the time to build the architecture of those ideas and really get clarity before diving in.

For Nutanix, which became one of the early unicorns, hitting a $6 billion valuation and going public, he first rented office space just to develop and crystallize the idea.

Again, avoiding the seductiveness of getting too comfortable, he began working on his next venture, Cohesity, even before his previous company went public. There he repeated the brainstorming process before creating a new tech success, which raised $15 million in Series A funding from Sequoia in just two days.

Cohesity, a modern data management company, empowers enterprises to back up, manage, store and derive insights from their data and apps, has now raised more than $400 million, including $250 million from its latest Series D round. Investors in the company include Accel, Sequoia, Battery, Cisco Investments, Hewlett Packard Enterprise, Google Ventures, Foundation Capital, Trinity Ventures, Qualcomm Ventures, and the SoftBank Vision Fund to name a few.

The Algorithm for Hiring Great Leaders

Cohesity just celebrated hitting 1,000 employees. Mohit has found huge respect for the recruiting process and putting teams of great leaders in place.

He went into Nutanix with cofounders and then went solo on his second venture, a move he only recommends after you’ve had the experience of launching a startup with others.

Still, he admits it was a steep learning curve, especially when it came to hiring. Most notably there is a big difference in hiring technical and business staff. Today, he says if he started a new venture he would raise $1 million, and use the first $300k of that to use an executive recruiter to source three great executives.

Mohit says he learned the hard way on how to hire leaders. Now he uses a three-tiered process that starts with a comprehensive checklist. This outlines who you want from a resume perspective, the type of leader you need for this stage in your company, and the experience they should have. Maybe you want the person coming from a startup. Maybe you want a person who has done zero to $200 billion in revenue before. Then you have a list of candidates that meet your pre-interview checklist.

Then you go through an interview looking for specific things and asking specific questions. One thing you look for in an interview is that this leader is a great people-person and is a great culture fit. Once the person meets at least 80% of the checklist you have formed for the interview, then comes the post-interview checklist.

The post-interview checklist is all about references. Specifically from either people who reported to that leader or people who’ve been peers of that leader, because those are the one who tells you the truth. They will tell you any red flags.

Go with Your Gut

Mohit warns that “when you hire the wrong person, especially when that person is a wrong leader, that sets the company back at least six months if not more. The damage done is immense.”

He believes the body has a way to tell you if something bad is about to happen, and strongly recommends people listen to their gut. If everything else is pointing in one way, but your gut is saying something else, he says listen to your gut. Don’t hire the leader, and go with your gut and look for the next one. Conversely, sometimes the gut says that this is a great hire, and that’s where, as long as they’ve sort of met the checklists and there’s not a huge red flag there, then go with the gut.

Look at their enthusiasm. Look at the person’s willingness to learn. Those bets can be very rewarding.

What Do You Do With All That Wealth?

Mohit no longer does companies for money. He does it for passion. Along the way, he says it ’s also very gratifying to give back. That starts with what you’ve learned. He says “knowledge is free. Knowledge should not be for sale. So, I freely distribute to anyone who comes to me for advice on how to do companies.”

He gives lectures to share this information. The other part of giving is just financially. He’s given to charitable organizations. He and his wife have a structure set up that when they pass away, a bulk of their wealth is actually going to go into a charity.

As a company, his firm gives to a local foundation in San Jose that takes care of providing jobs to young people. He’s also given to Rice University and the Institute of Technology in Delhi which he attended.

He says “life is about giving, and I think giving brings you pleasure. Unlike what people believe, accumulation isn’t always very pleasing, but giving can be very fulfilling.”

Listen in to the full podcast episode for all the details, as well as how to contact him directly with your ideas and questions (listen to the full podcast episode here).

Alejandro Cremades is a serial entrepreneur and author of best-seller The Art of Startup Fundraising, a book that offers a step-by-step guide to today‘s way of raising money for entrepreneurs.

I am a serial entrepreneur and the author of the The Art of Startup Fundraising. With a foreword by ‘Shark Tank‘ star Barbara Corcoran, and published by John Wiley &…

Source: This Ex-Googler Built What Is Now A $6 Billion Business And Raised $400 Million For His Next Company

Navigating Bitcoin, Ethereum, XRP: How Google Is Quietly Making Blockchains Searchable

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It’s a balmy 80 degrees on a mid-December day in Singapore, and something is puzzling Allen Day, a 41-year-old data scientist. Using the tools he has developed at Google, he can see a mysterious concerted usage of artificial intelligence on the blockchain for Ethereum. Ether is the world’s third-largest cryptocurrency (after bitcoin and XRP), and it still sports a market cap of some $11 billion despite losing 83% of its value in 2018. Peering into its blockchain—the distributed database of transactions underpinning the cryptocurrency…………

Source: Navigating Bitcoin, Ethereum, XRP: How Google Is Quietly Making Blockchains Searchable

Taiwan to launch blockchain-based digital ID system in 2020 – TokenPost

The government of Taiwan is planning to roll out a blockchain-powered digital identification system in 2020, local news outlet CNA reported last week. Premier William Lai announced plans to launch the new eID system at a meeting held last week. The initiative is part of the broader efforts aimed at implementing “smart government” to promote the digital transformation of the government.

Source: Taiwan to launch blockchain-based digital ID system in 2020 – TokenPost

Italian government brings together 30 experts to build national blockchain strategy – TokenPost

Italy’s Ministry of Economic Development has brought together 30 experts in a bid to boost the country’s blockchain strategy, CoinDesk reported.In September, the ministry had launched a call for applications for the selection of up to 30 members of a group of experts for the drafting of a national strategy on distributed ledger technologies (DLTs) and blockchain.

Source: Italian government brings together 30 experts to build national blockchain strategy – TokenPost

Blockchain Is Starting to Show Real Promise Amid the Hype – Avi Salzman

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Partnerships and initiatives featuring blockchain seem to be trumpeted every day. Projects that actually solve real-world problems are much rarer. The research firm Gartner surveyed 3,160 chief information officers this year and found that only 1% had put blockchain to work. Take the Australian mining giant BHP Billiton (ticker: BHP), which announced in 2016 that it would use blockchain to track its supply chain, including the movement of rock and fluid samples. But after the company tested it in a pilot project, a BHP executive said this month that the technology “hasn’t reached the point of maturity where we think it applies to us……..

Read more: https://www.barrons.com/articles/blockchain-is-starting-to-show-real-promise-amid-the-hype-1534554901?mod=barpkt19

 

 

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