Bitcoin, Blockchain & Cryptocurrency News
1.5K views | +0 today
Your new post is loading...
Your new post is loading...
Scooped by Jan Miranda
Scoop.it!

R3 Blockchain Opens to All

R3 Blockchain Opens to All | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Blockchain banker group R3 has released the source code behind its distributed ledger "Corda" to developers through the website Github.
Jan Miranda's insight:
Financial technology firm R3 CEV is the latest upstart to lift the veil on its blockchain, a kind of distributed ledger that may revamp banks’ back offices with modernized software.

A number of startups and Wall Street stalwarts have been vying to develop products that will eventually replace, or supplement, present-day financial infrastructure. Advocates of blockchain tech, the fundamental innovation that underpins cryptocurrencies like Bitcoin, say that it streamlines settlements as well as the execution of certain legal contracts, making business processes quicker, more secure, and less prone to error.

In the interest of attracting adherents to its own concoction, R3 posted the source code of Corda, its distributed ledger prototype, to Github, a code-sharing site, on Wednesday morning. The firm also debuted a website featuring supplementary materials for developers and enthusiasts at Corda.net.

“People will be surprised when they dig into the code of the technical white paper,” Hearn told Fortune on a call. For one thing, he said, Corda is designed to be compatible with tools that programmers within large organizations are likely already familiar, such as relational databases for storing digital information and Microsoft SQL, a tool for accessing data contained therein.

Criticism

Following the release, some skeptics on social media and at industry conferences moved to voice doubt over the distributed ledger’s value proposition. Bitcoin Core developer Peter Todd expressed confusion over what problem Corda is designed to solve. He also argued that, without a clear explanation of who authorized changes, there would be a lack of accountability to partners.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Miners to Attack Ethereum Classic after Poloniex’s Listing

Miners to Attack Ethereum Classic after Poloniex’s Listing | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Chandler Guo, a well-known and respected figure in the Chinese digital currency community stated that miners will 51% attack Ethereum Classic ASAP.
Jan Miranda's insight:
Poloniex, one of the biggest altcoin exchanges, shocked the community this morning by listing a conceptually insecure and flawed coin, Ethereum Classic, a deprecated chain that has barely any miners and thus lacks any security.

The chain was fully ignored and Ethereum’s community had already moved on before Poloniex made a surprising announcement while Europe and America was asleep. Ethereum Classic’s price instantly crashed to pennies, before slightly recovering while Ethereum’s price, although somewhat volatile, continues to trade above $13, down $1 dollar since the news.

Many consider Poloniex’s action to be utterly reckless as Ethereum Classic’s chain can be easily double spent and due to its almost non-existent hashpower the chain can easily be made unoperational. Uninformed users or traders of that chain, perhaps perceiving the coin to have some legitimacy due to Poloniex’s action, may, therefore lose all of their money as the coin is fully insecure.

Chandler Guo, a well-known and respected figure in the Chinese digital currency community stated that he, assisted by other miners, will 51% attack Ethereum Classic as soon as possible.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Why Corporations Love Ethereum

Why Corporations Love Ethereum | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Ethereum, the world's second most valuable cryptocurrency network after Bitcoin, recently fell victim to a sophisticated hack within one of its thir
Jan Miranda's insight:
Why Corporations Love Ethereum.

Ethereum is a year old in the marketplace, and has already briefly flirted with a US $1.5 billion market valuation. Despite this crazy vote of confidence from the crypto market, the technology is still new. Bitcoin had many problems in its first couple years that required correction or tweaking; Bitcoin came into existence more than 7 years ago in January 2009. 

To a user who posted about Ethereum possibly being “over-engineered,” or too complex, Buterin popped in to offer his thoughts: “iPhones are incredibly over-engineered below the surface. It often takes a lot of complexity at the bottom and at middle layers in order to make the top look clean and shiny (though ethereum’s philosophy is certainly to favor complexity in the middle over complexity at the bottom wherever possible for consensus/security reasons).”
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Major Ethereum pools switching to Soft Fork to stop hacker from withdrawing stolen funds

Major Ethereum pools switching to Soft Fork to stop hacker from withdrawing stolen funds | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

DAO Wars - Major Ethereum pools switching to support a soft fork. If successful it will freeze funds for "The DAO" in 5 days.

Jan Miranda's insight:
Large Ethereum mining pools are moving to accept a soft fork to block The DAO hacker from withdrawing stolen funds. If this fork is successful only white listed accounts will be able to retrieve funds from The DAO. This new fork takes effect on block #1,800,000 (in 5 days).

A soft-fork is perfectly compatible with all protocol rules and requires only the consensus of the majority of miners to enact. It is temporary and can be removed/amended at any point in time upon miner consensus. It does not break protocol rules; it does not roll back any executed transactions/blocks; and it does not change any blockchain state outside of the original protocol capabilities.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Lawyers Be DAMNed: Andreas Antonopoulos Takes Aim at Arbitration With DAO Proposal

Lawyers Be DAMNed: Andreas Antonopoulos Takes Aim at Arbitration With DAO Proposal | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

"Mastering Bitcoin" author Andreas Antonopoulos takes aim at local governments with his plans for an Ethereum-based legal structure for The DAO that could be recognized world-wide.

Jan Miranda's insight:
Currently under review at The DAO, the distributed autonomous organization that raised over $150m worth of the cryptocurrency to date, is a proposal for an international legal structure.

Submitted by "Mastering Bitcoin" author Andreas Antonopoulos on 23rd May, the proposal entails a decentralized arbitration and mediation network, or DAMN, that would be built on top of the New York Convention legal structure.

Passed by the UN in 1958, the New York Convention is an agreement between more than 65 countries establishing that any decision made by a recognized arbitrator will not only be recognized by the courts of those nations, but enforced by them.

If successful, DAMN would give its users access to a new form of dispute resolution that is not only more affordable, but almost borderless, according to Antonopoulos.

Morgan, an attorney with a background in commercial arbitration, explained what she viewed as the true power behind the encoding of alternative dispute resolution services into the Ethereum blockchain:

"While this idea is relatively new to our community, these practices are well established in commercial transactions. This is not new. All we’re doing is bringing something that until now has been reserved for the elite, the well-connected, the wealthy, and we’re bringing it to every-day people by way of smart contracts." - Morgan
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

The DAO is a New Dow - An evolution of stock exchange infrastructure

The DAO is a New Dow - An evolution of stock exchange infrastructure | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

The DAO is a paradigm shift on the existing stock exchanges and financial systems which can bring more wealth opportunities to the average investor.

Jan Miranda's insight:
The DAO - an evolution of the stock exchange infrastructure, part of the progression of technology in the past two centuries.

The DAO has raised $160M+ worth of ether, the native cryptocurrency of the Ethereum network, in just a few weeks.

The DAO and its valuation will be an effective ether index of the proposals it accepts, much like the Dow is a stock market index. The difference is that The DAO is owned by market participants who choose what is funded, listed and potentially provides a return on those investments.

First Investment

One of the first proposals set to be voted on by The DAO following its creation phase – wherein voting tokens are created through the exchange of ether – will be submitted by Ethereum-based startup Slock.it.

In its first proposal, Slock.it will offer the creation of what they call the Universal Sharing Network, an effort aimed at creating a technology backbone for Ethereum.

Part of The DAO’s recipe for success is that the creators came at blockchain from two angles. The combination of a blockchain-coded business entity (The DAO) funding an IoT hardware product (Slock.it) that is controlled through a blockchain for use in the sharing economy is just too sexy for the futurist blockchain community to resist.

The DAO will use votes to accept or reject funding for future proposals like Slock.it. It will also be participatory, as thousands of people appear to have purchased voting rights.

A New Financial Paradigm  

Global capital markets have been a cloistered community since they began. Capital markets are not democratized in the sense that the people participating belong to a unique demographic and are able to navigate the particular and complex language of investment finance.

Capital markets are seeing challengers as digital finance innovations accelerate. Crowdfunding platforms like Kickstarter and Indiegogo were only the beginning.

Going Forward

This may be a powerful innovation for capital markets, something that has been suggested ever since the implications of bitcoin became understood. Innovating capital markets the way The DAO is suggesting could have profound effects on society.

The platform leverages blockchain to be the market’s digital backbone, breaking down the friction in the flow of information. If this creates a market that will benefit micro-investors as well as entrepreneurs seeking that elusive first million dollars, it could mean the difference between an idea growing or dying on the vine.

It will also bring governance of a business into a transparent, blockchain-based sphere. Meaning, there will be off-the-shelf blockchain code to set-up and operate a business proposal for funding and listing on The DAO.

more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

All the cool kids are doing Ethereum now

All the cool kids are doing Ethereum now | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
In the beginning the Prophet Satoshi brought us Bitcoin. And the cryptogeeks and libertarians looked upon it, and said lo, we smile upon this, for it is good, and decentralized, and solves the Byzantine Generals Problem. For a time all was well. But then came wailing and gnashing of teeth and wearing of sackcloth. And then came the Prophet Vitalik, bearing Ethereum; and lo, it was even better.
Jan Miranda's insight:
What is Ethereum?

It’s a combination of a cryptocurrency, like Bitcoin, and a vast decentralized computer. Let me explain. As an above-average TechCrunch reader, you already know Bitcoin is a currency whose transactions are secured by the immense computing power of its distributed network of “miners,” rather than any central entity. But you may not appreciate that every Bitcoin transaction is actually a program written in the Bitcoin scripting language — aka a “smart contract.” 

Bitcoin’s contractual language is quite limited, by design. But it allows for transactions that can be delayed until a particular time; or transactions that occur only if, say, 3 of 5 signatories agree to them; or crowdfunding campaigns that only transfer money if a particular total is attained; and many other possibilities. Importantly, once incorporated into the Bitcoin blockchain, these contracts require no trust and no human intervention. Bitcoin is programmable money … with a highly restrictive programming language.

Ethereum removes those restrictions entirely. The Ethereum scripting language is Turing-complete, meaning it can replicate any program written in any traditional programming language. However, to prevent ill-behaved contracts with infinite loops from running forever, every Ethereum transaction computation must be paid for. Just as Bitcoin miners collect small amounts of bitcoin, known as “fees,” in exchange for mining transactions onto the Bitcoin blockchain, Ethereum miners collect “ether,” the Ethereum currency, for running Ethereum contracts.

You may well be thinking: “Oh come on. Bitcoin was more than abstruse and geeky enough. Now this new made-up-magical-money thing is even more complicated? Why should I care?”

You should care because decentralized cryptocurrencies like Bitcoin and Ethereum are–or at least could be–essentially an Internet for money, securities, and other contractual transactions. Like the Internet, they are permissionless networks that anyone can join and use. Ethereum optimists might analogize Bitcoin as the FTP of this transactional Internet, with Ethereum as its World Wide Web.

more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Coinbase Exchange Starts Trading Ethereum on May 24

Coinbase Exchange Starts Trading Ethereum on May 24 | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Bitcoin exchange and wallet service Coinbase is adding support for ether, the native cryptocurrency of the Ethereum network.
Jan Miranda's insight:
The addition of Ethereum comes amid rising interest in ETHER among digital currency traders and the technology platform itself among financial institutions and other enterprises worldwide. Trading will begin on 24th May.

Initially, traders on Coinbase's exchange platform will be able to buy and sell ethers. Later this summer, the company will add support for the digital currency to all Coinbase users. An official announcement is expected to be made Tuesday. In interview, White confirmed the added support for ether after details about the integration began circulating on social media.

Coinbase's ether integration was, in some ways, largely expected given recent trends in the exchange space. Since San Francisco-based exchange Kraken announced last August that it would become the first major venture-backed business to offer ether trading pairs, a variety of exchanges worldwide have followed suit in the past few months. More recently, Gemini added ether trading pairs to its exchange.

Last year, employees took part in multiple Ethereum meetups as part of their research into the digital currency. But it wasn’t until Microsoft Azure entered the fray that the startup begin to look more closely.

Interest in other assets:

Coinbase is also paying close attention to The DAO, a decentralized organization built on top of Ethereum that acts as a funding vehicle for related projects.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Winklevoss Bitcoin Exchange Gemini Will Now Include Ethereum

Winklevoss Bitcoin Exchange Gemini Will Now Include Ethereum | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

The Gemini exchange, founded & operated by the Winklevoss twins has gained approval from the State of New York to trade Ethereum's Ether

Jan Miranda's insight:
The Gemini exchange, founded and operated by Tyler and Cameron Winklevoss has gained the approval from the State of New York via the Department of Financial Services to offer trading of Ether, the crypto-asset and token of the Ethereum network.

In an interview with Reuters, Gemini co-founder and president Cameron Winklevoss revealed that the twins’ investment firm Winklevoss Capital began buying ether at the beginning of 2016, noting that the investment arm is now a “significant” holder of the cryptocurrency.

Winklevoss stated: There is a place for ether on our platform. It does what bitcoin doesn’t do.

Gemini customers will be able to store their Ether from Thursday before trading officially begins on Monday, May 9.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Ethereum's Vitalik Buterin asks if Google, Apple and Facebook are threatened by blockchains

Ethereum's Vitalik Buterin asks if Google, Apple and Facebook are threatened by blockchains | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

The Gafa companies (Google, Apple, Facebook, Amazon) have been conspicuously silent on blockchain.

Jan Miranda's insight:
Vitalik Buterin, inventor of consensus computing system Ethereum, said a "blockchain blindspot" around the likes of Google, Facebook and Apple could signify the threat this technology poses to those sorts of companies.

The Gafa companies (Google, Apple, Facebook, Amazon) have been conspicuously silent on blockchain, but it could be said a serious advance into some kind of platform banking model from them (as has happened in China with Alipay for instance) is also something the fintech universe awaits. Airbnb made an acquisition of crypto engineers last month and then denied they had any interest in blockchain.

"Why exactly haven't we seen that much from that sector? Is it because there isn't much for them? Is it because they just haven't found the right angle? Or, is it because they feel more threatened by it, whereas other groups see it as an opportunity for them?

"The idea they feel threatened might actually be the correct answer to higher degree than some people appreciate."

As far as embracing blockchain and making itself more technologically progressive, Microsoft seems to have done the best job, noted Buterin.

China
The Ethereum Foundation has announced partnerships with Wanxiang Blockchain Labs to foster education and development of the technology in China. Buterin has visited growing blockchain communities across many of the main cities. 

"In Beijing it's been mostly academics; not even so much academic from a sort of massive cryptography standpoint, but academic from an application standpoint.

Crowdsales and tokens 
The ebullient vitality of the Ethereum community has been on show recently with the advent (and inundation) of crowdfunding token sales, such as DigixGlobal which raised $5.5m in a matter of hours.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

How I Preordered a Tesla Model 3 With Bitcoins - CoinDesk

How I Preordered a Tesla Model 3 With Bitcoins - CoinDesk | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
The recent purchase of a Tesla 3 with bitcoin is the catalyst for this story about how far bitcoin has come since the days of pizzas and Alpaca socks.
Jan Miranda's insight:
"Today, I preordered a Tesla Model 3 with Bitcoin.
..for an electric vehicle to possibly have a 0–60 time that rivals that of the latest model Ferrari."
- Mason Borda (software engineer at BitGo)


more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Opendime: the 'Disposable Hardware Wallet' - Spend #Bitcoin like a dollar bill.

Opendime: the 'Disposable Hardware Wallet' - Spend #Bitcoin like a dollar bill. | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

Coinkite has revealed a new project called Opendime a USB stick that acts like paper money and can be passed along to anyone.

Jan Miranda's insight:
Spend Bitcoin like a dollar bill. You can pass it along multiple times using a USB stick. Unseal at any time to spend it online.

Toronto-based company Coinkite introduced a transferable hardware wallet that can be treated as though it was cash. Each Opendime stick holds one user-loaded private key that never reveals the key until the product is “unsealed.” The company says that the devices use “Piggy-Bank Economics” meaning the dime-sized stick must be destroyed to spend the funds. Users can store as little or as much as they want and units can be exchanged freely until they are spent.

"It might be a real godsend in some countries that struggle with limited network infrastructure and corrupt governmental systems."
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Japanese mega-corporations complete trial using the bitcoin blockchain » Brave New Coin

Japanese mega-corporations complete trial using the bitcoin blockchain » Brave New Coin | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Japanese mega-corporations complete trial using the bitcoin blockchain
Jan Miranda's insight:
Japan-based mega-corporations Fujitsu Limited, Fujitsu Laboratories Ltd., and Mizuho Bank Ltd., released a joint announcement yesterday, stating that they have completed a blockchain trial to streamline cross-border securities transaction settlements. Their aim is to create a whole new cross-border financial system that minimizes the risk of price fluctuations.

Mizuho Bank is the fourth largest bank in Japan, according to the 2016 Bankers Almanac from global leading data provider Accuity. With total assets of US$1.343 trillion, the Bank ranks 22nd overall, with Industrial & Commercial Bank of China at the top of the list with $3.32 trillion in assets.

The three companies began their joint blockchain trial project in December 2015. Mizuho Bank contributed their expertise with the post-trade securities settlement process while Fujitsu Limited conducted the development, evaluation, and testing of the trial system. Meanwhile, Fujitsu Laboratories was responsible for applying blockchain technology.

The process of cross-border securities transactions is complex, and typically takes three days to complete. The longer the settlement time, the higher the risks faced by asset managers, such as price fluctuations and the possibility of counterparties going bankrupt.

To date, banks have done little to improve the back-end systems and processes involved in cross-border payments. As a result, cross-border payments remain expensive for customers, who also face numerous pain points (e.g., lack of transparency and tracking, slow processing times).

They believe blockchain technology can provide a practical solution for shortening settlement times, from three days to the same day, citing how past attempts to shorten them were impractical due to issues such as the large cost of system operations management.

Using the blockchain Open Assets Protocol, the three companies built a blockchain-forming system in Fujitsu's cloud environment, recording the information from a confirmation (matched trade information: securities name, quantity of securities, currency code, amount, country of settlement, settlement type, settlement date) as one linked block.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Blockchain technology creates an opportunity for female leaders

Blockchain technology creates an opportunity for female leaders | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it


Blockchain Technology Article by Hilary Carter. Globe Careers’ Leadership Lab series, where executives and experts share their views and advice about leadership and management.

Jan Miranda's insight:
This is a great article by Hilary Carter with a unique management perspective on blockchain technology.

In March, Don Tapscott tweeted his hypothesis that “having more women in the blockchain ecosystem would mean better collaboration and more sensible governance.” Based on the positive correlation between higher levels of women in leadership and stronger business results, this comes as no surprise, and given the gender gap that exists for women in STEM, Don Tapscott’s advocacy certainly caught attention.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Blockchain in the Open: Discussion Panel (Bitcoin, Ethereum, Hyperledger, MIT, IBM)

Blockchain in the Open program, with Brian Behlendorf of Hyperledger, Joi Ito of MIT, & Arvind Krishna of IBM Research

Jan Miranda's insight:
Blockchain in the Open at The Churchill Club (Silicon Valley's premier business and technology forum).

Blockchain discussion panel with Brian Behlendorf Director of Hyperledger (Linux Foundation), Joi Ito Director of MIT Media Lab, and Arvind Krishna Sr VP & Director of IBM Research.

Discussion includes: Bitcoin, Blockchain, Smart Contracts, The DAO, Legal ramifications, Artificial Intelligence, etc.

Blockchain technology is one of the most exciting things to happen to information technology in recent years. It solves a problem no other tech has been able to: trusting the network to keep everyone honest. What are the implications for this across different industries? How are regulators responding to the potential changes this can have on those industries? What new legal and societal challenges may emerge?
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Code != Law

Code != Law | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Future smart contract design will need to take legal, regulatory and liability concerns into account.  They must be designed to co-exist with the law and not to supercede it until the law evolves.
Jan Miranda's insight:
Future smart contract design will need to take legal, regulatory and liability concerns into account.  They must be designed to co-exist with the law and not to supercede it until the law evolves.  When smart contracts are deployed in critical applications, regulators will likely take great interest before deployment and will demand sound code which behaves as expected. 

The failure of the DAO will establishment a need for a new area of academic research, field of study, and profession dedicated to smart contract engineering cognizant of the legal, programming and game theoretical concerns surrounding smart contracts.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Banks and Corporates want to create private Blockchain protocols while the future lies with public, open protocols like Bitcoin.

Banks and Corporates want to create private Blockchain protocols while the future lies with public, open protocols like Bitcoin. | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
He also noted that building on Ethereum, a rival open blockchain network to Bitcoin, is a much better experience for developers
Jan Miranda's insight:
Fred Wilson of USV says banks and corporates want to create private blockchain protocols while the future lies with public, open protocols like bitcoin.

He also noted that building on Ethereum, a rival open blockchain network to Bitcoin, is a much better experience for developers

“When the dumb money shows up, it’s time to get the fuck out,” said Wilson, who has been a vocal proponent of Bitcoin and public blockchain tech. Big banks and other financial services companies, however, have tended to embrace the technology to build their own private blockchains they can control, in part due to security and regulatory concerns.

Wilson said he’s not interested in the private blockchain protocols favored by the financial institutions who steer clear of public, open blockchains like Bitcoin or Ethereum.

Wilson’s answer to “The banks don’t want to use Bitcoin.”:
It’s like we [banks] don’t want to use the Internet we think Compuserve is better. That’s naive. 

It’s [the blockchain of the future] going to be a globally distributed decentralized public blockchain. 

IMO: You can’t get the benefits of the technology by trying to put it in a box and make it private. That’s the lesson of the internet, unless everyone is on the same network communicating with the same protocol it’s not going to work. 

And despite his tough views on the world of bitcoin and blockchain investing, Wilson was more optimistic than many are on bitcoin’s future, though he acknowledged that it had earned a “black eye” due to fraud scandals like Mt. Gox and governance issues. Wilson noted that bitcoin is still relevant after all these problems and that’s some evidence of its resilience.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Bitcoin Ethereum Blockchain Meetup - Sunny Ray & Anthony Di Iorio

Bitcoin Ethereum Blockchain Meetup - Sunny Ray & Anthony Di Iorio | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
5 blockchain meetup groups combine forces: Decentral, Toronto Ethereum, Blockchain Toronto, Bitcoin Bay & Canada Bitcoin Blockchain!
Jan Miranda's insight:
5 blockchain meetup groups combined forces Monday night to discuss the state of Blockchain: Decentral, Toronto Ethereum, Blockchain Toronto, Bitcoin Bay & Canada Bitcoin Blockchain.

Unocoin co-founder Sunny Ray was host & MC. Unocoin became the first Indian Bitcoin start-up to be funded internationally in August 2014 when legendary investor Barry Silbert infused US$250,000 into Unocoin.

Joseph Weinberg Co-Founder and CEO of Paycase recounted the story that lead to Paycase.

Peter Gray CTO and co-founder of Coinkite demonstrated their new Jaxx 1.0 Wallet by Decentral that unifies the Bitcoin & Ethereum experience across devices.

Followed by Anthony Di Iorio, a serial entrepreneur, venture capitalist, community organizer, and thought leader in the field of disruptive and decentralized technologies. He serves as the Chief Digital Officer at The Toronto Stock Exchange (TSX) / TMX Group, co-founder of Ethereum, and founder and CEO of Kryptokit, Decentral and Decentral Consulting.

There was a discussion about "The DAO" (Decentralized Autonomous Organization also called The DAO Hub). It became the largest crowdfund to date, raising over $150 Million in less than a month. 

The DAO is essentially a Venture Fund that invests in Blockchain technology and the new sharing economy through automated smart-contracts.

more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

The DAO - A Venture Fund With Plenty of Virtual Capital, but No Capitalist

The DAO - A Venture Fund With Plenty of Virtual Capital, but No Capitalist | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
A Venture Fund With Plenty of Virtual Capital, but No Capitalist
Jan Miranda's insight:
Olivier Stern, a 31-year-old French socialist with an appetite for risk, recently invested a third of his life savings — 10,000 euros, about $11,000 — in a cryptocurrency start-up that has no legal standing and runs head-on into regulatory obstacles, yet might very well upend the mysterious world of virtual investing.

The start-up, a sort of venture capital fund that calls itself the Decentralized Autonomous Organization, has essentially come out of nowhere in the last month and attracted about $152 million, at last count, from investors around the world like Mr. Stern — making it the most successful crowdfunded venture ever, by a significant margin.


more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Mycelium Blockchain for Fair Music - Imogen Heap on London Real

Imogen Heap talks Mycelium blockchain technology for fair music. 

Jan Miranda's insight:
Imogen Heap wants to use blockchain technology to revolutionize the music industry with the help of Mycelia.

Mycelia is... A foundation, created for the purpose of building and protecting a verified database for the music community creatives, their work and their collaborators. It's an open database that describes the whole music industry so that everyone involved can be acknowledged and rewarded.

Who is Imogen Heap Imogen Heap is an English singer-songwriter and composer known for her work as part of the musical duo Frou Frou and her solo albums, which she writes, produces, and mixes. She has produced four solo albums and won two Grammy nominations. In 2010 she received the British Academy's Ivor Novello Award for International Achievement.

Heap, who runs her own record label called Megaphonic Records, is in the process of registering Mycelia as a charity and is hosting a hackathon in April to work on the platform. She says she has heard from a range of tech companies interested in building the technology for Mycelia and hopes to launch the platform soon.

Blockchain technology, already in use on other music streaming and download platforms like Bittunes and PeerTracks, has its challenges. It’s not clear who would oversee these blockchain payment systems and there are concerns over how this complex technology would be managed.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

The Tao of “The DAO” or: How the autonomous corporation is already here

The Tao of “The DAO” or: How the autonomous corporation is already here | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

A new paradigm of economic cooperation is underway -- a digital democratization of business. It’s not crowdfunding a product.. It's CROWD-FOUNDING powered by the Blockchain.

Jan Miranda's insight:
A new paradigm of economic cooperation is underway — a digital democratization of business.

"The DAO" is a decentralized autonomous organization. Over the past couple of weeks a project with no mainstream press has become the second biggest crowdfunding project in history. raising more than $115 million, and yet it exists entirely on the Ethereum blockchain.

"This is a corporation whose bylaws are written entirely in code.(a smart-contract)"

The DAO works as a decentralized fund management, investing in blockchain projects related to the new sharing economy.

"The DAO" is one of the first of many more DAOs (decentralized autonomous organization) to come.

Wikipedia defines a corporation as “a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.” 

While The DAO is a group of people authorized to act as a single economic entity, no governmental body recognizes it as such. 

In exchange for supporting The DAO financially (in the form of Ether), backers get DAO tokens, which they can then use to vote on the direction of the organization. They can use their tokens to vote on big governance issues (akin to traditional shareholders) but also on minute details of how The DAO spends its resources. In this way, token holders have total control over The DAO’s assets and its actions.

It is something entirely new. It’s something between a traditional corporation, a VC fund and a Kickstarter — only entirely decentralized, democratic and existing only in code.

The DAO is a paradigm shift in the very idea of economic organization. It offers complete transparency, total shareholder control, unprecedented flexibility and autonomous governance.

DAOs could offer new opportunities to democratize business. Currently only the privileged can found and fund new companies.

By allowing anyone on the Internet to become owners of these organizations, DAOs may allow more people than ever to fully participate in the innovation economy.

more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Slock.it Announces DAO.LINK, the bridge between blockchain and brick-and-mortar companies

Slock.it Announces DAO.LINK, the bridge between blockchain and brick-and-mortar companies | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

Slock.it announced DAO.LINK on Ethereum, an initiative which makes brick-and-mortar business interactions with blockchain-based organizations.

Jan Miranda's insight:
For those unfamiliar with the concept of DAOs, Decentralized Autonomous Organizations are blockchain-based entities driven by immutable computer code as opposed to fragile, complex by-laws. 

Slockit led the development of the Standard DAO Framework to allow anyone to easily deploy their own DAO. Because DAOs consist of computer code, they interact with the physical world through Contractors.

These Contractors are hired based on the terms of irrefutable Proposals describing that relationship in detail including operating parameters, payment terms, milestones and deliverables.

A proper, 100% decentralized DAO such as this is only plausible on the Ethereum network as it’s the only blockchain that supports complex, autonomous smart contracts so far. Therefore, DAOs only speak ETH — the ‘fuel’ that powers the Ethereum network. Many smaller or individual Contractors will see this as an advantage, preferring the nimbleness of direct ETH transactions.

DAO.LINK makes it possible to bridge the divide between the blockchain and existing brick and mortar businesses.

DAO.LINK provides such a process within the confines of the existing legal systems and regulatory frameworks.

DAO.LINK has set up the legal framework to give real world companies the ability to work for DAOs while still being able to fill out the necessary documentation required to stay compliant.

DAO.LINK is built in partnership with BITY.com, an ETH & BTC exchange with many innovative features including allowing their customers to buy and sell 250 USD/EUR/CHF per day only providing a phone number. Bity is operated by Bity SA, a fully-licensed company based in Neuchâtel, Switzerland, audited by KPMG.

more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Ethcore Raises $750,000 to Help Enterprise Firms Leverage Ethereum

Ethcore Raises $750,000 to Help Enterprise Firms Leverage Ethereum | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Ethereum startup Ethcore has raised $750,000 in a preliminary, pre-seed funding round led by Silicon Valley-based Blockchain Capita
Jan Miranda's insight:
Ethcor, founded by former Ethereum CTO Gavin Wood, just rraised $750,000 in a preliminary, pre-seed funding round led by Silicon Valley-based Blockchain Capital and Shanghai-based Fenbushi Capital.

Wood said it raised the funding as part its bid to move toward the 1.0 release of its Ethereum client, called Parity, and to help it create new development libraries that could be useful to the growing number of enterprise firms seeking to leverage the platform for private and consortium-based projects.

"We really wanted to offer a way into for VC firms, the firms that weren’t heavily vested in an Ethereum, to gain more exposure," he said.

The fund, announced last September, was co-founded by Ethereum creator Vitalik Buterin and BitShares co-founder Bo Shen, and has received funding from China-based auto conglomerate Wanxiang Group.
more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Ethereum: Towards A New BitSociety - Forbes

Ethereum: Towards A New BitSociety - Forbes | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Blockchain technology paves the way for new forms of law, new types of democracy, even – perhaps – the redefinition of what we mean by a “nation”

Some are calling the relatively new Blockchain technology Ethereum Bitcoin 2.0.

"The range of potential applications for Ethereum’s smart contracts is staggering" - Frances Coppola (Forbes & Financial Times Writer)
Jan Miranda's insight:
We have been thinking of Bitcoin as a new currency and/or a new class of asset, and its underpinning technology – the blockchain – as a shiny new type of payments system that will eventually eliminate the need for intermediaries such as central banks. But the technology potentially takes us much, much further than that. Recent developments take us towards new forms of law, new types of democracy, even – perhaps – the redefinition of what we mean by a “nation”. It may sound extreme to say this, but some blockchain aficionados are even talking about complete reordering of society. Welcome to the Brave New BitWorld.

The range of potential applications for Ethereum’s smart contracts is staggering:

The first category is financial applications, providing users with more powerful ways of managing and entering into contracts using their money. This includes sub-currencies, financial derivatives, hedging contracts, savings wallets, wills, and ultimately even some classes of full-scale employment contracts. The second category is semi-financial applications, where money is involved but there is also a heavy non-monetary side to what is being done; a perfect example is self-enforcing bounties for solutions to computational problems. Finally, there are applications such as online voting and decentralized governance that are not financial at all.

Ethereum's founder Vitalik Buterin wrote in his White Paper about Ethereum: 
There has been a great amount of interest into the area of using Bitcoin-like blockchains, the mechanism that allows for the entire world to agree on the state of a public ownership database, for more than just money. Commonly cited applications include “colored coins”, the idea of using on-blockchain digital assets to represent custom currencies and financial instruments, “smart property”, physical objects such as cars which track a colored coin on a blockchain to determine their present legitimate owner, as well as more advanced applications such as decentralized exchange, financial derivatives, peer-to-peer gambling and on-blockchain identity and reputation systems. Perhaps the most ambitious of all is the concept of “autonomous agents” or “decentralized autonomous corporations” 

Currently, national (and to some extent international) law protects people’s property rights, and ensures that people contribute through taxation to the society in which they choose to live. But Ethereum’s smart contracts create the possibility that these legal systems could be completely bypassed. What would replace them? Ethereum has the answer. A new, global, virtual legal system. In fact a new, global, virtual country. 

Welcome to the Decentralized Voluntary Borderless Nation!

more...
No comment yet.
Scooped by Jan Miranda
Scoop.it!

Ethereum Blockchain Project Launches First Production Release - CoinDesk

Ethereum Blockchain Project Launches First Production Release - CoinDesk | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

Next-generation blockchain platform Ethereum has released 'Homestead'; the production release of the first decentralized World computer

Jan Miranda's insight:
Next-generation blockchain platform Ethereum has released 'Homestead' the production release of the first decentralized singleton World computer.

This introduction follows Frontier, Ethereum's developer's release, which was in July 2015. There is building interest in this open, public platform, which is attracting the interest of major financial institutions.

Announced in January 2014 by inventor and project leader Vitalik Buterin, Ethereum raised some $18m in a crowdsale of the tokens that help power its platform later that year. Since then Ethereum has grown the value of its token, ether, which has a valuation in excess of $1 billion, nearly a five-fold annual growth.

"We’ve seen Microsoft and IBM doing projects on Ethereum. There’s a lot of coders. It’s exciting to see something you were in on in the early stages growing and bearing fruit," Anthony DiIorio, one of Ethereum's founders and a Chief Digital Officer at the Toronto Stock Exchange, said in an interview.

The Ethereum network served as the platform for the first major test conducted by blockchain consortium startup R3 in January. R3 has the backing of over 40 international financial institutions; Bank of America, Barclays, Credit Suisse, Goldman Sachs, JP Morgan, Royal Bank of Scotland, UBS, National Australia Bank, RBC, TD, HSBC, Scotiabank, BMO, Banco Santander, Danske Bank, to name a few.

The test involved 11 of its partner financial institutions. R3 said that the test used a distributed ledger based on the public Ethereum network, that was hosted on a private network using the Microsoft Azure platform (Microsoft's blockchain-as-a-service initiative).

Release Upgrades

Stephan Tual, founder of Slock.it and the former CCO of Ethereum explains that the new upgrades will now allow the network to be competitive among private and public blockchain softwares. 

One of many upgrades is the introduction of new codes in Solidity, the language used to compile for the Ethereum Virtual Machine, the part of the protocol that handles the internal state of the network.

"Being able to hard fork at anytime, and more importantly, getting the support from the miners (who will vote by updating the software or not) is a big, big differentiator from other blockchains, paving the way for major features upgrades in the future," Tual said.

Along with the upgrade to the protocol, the developers introduced a wallet product called Mist, which will allow users to write and deploy smart contracts in addition to serving as a place to hold ethers. 

Dapps

Some of the DApps (decentralized applications) available in Homestead are: a prediction market, a decentralized music platform, a tokenized gold custodian and asset tracking system, and an easy way for users to convert bitcoin to Ether.

more...
No comment yet.