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PayPal: Unprecedented Disruption in Payments and Financial Services - Adds Bitcoin Entrepreneur to Board

PayPal: Unprecedented Disruption in Payments and Financial Services - Adds Bitcoin Entrepreneur to Board | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

“In a telling move about the future of money, PayPal has added a Bitcoin entrepreneur to its board of directors,” CNN Money reports. Fintech entrepreneur Wences Casares joined the board on Tuesday, PayPal announced Wednesday. The move has been interpreted as the beginning of a new phase in PayPal’s timid love story with Bitcoin, which could conceivably culminate in open adoption.

Jan Miranda's insight:

One of the clearest indications of PayPal’s interest in Bitcoin is Paypal’s subsidiary Braintree. The company, which was acquired by eBay (the former parent company of PayPal) for $800 million in September 2013 and became part of PayPal after the split, permits merchants to accept Bitcoin payments seamlessly in partnership with Coinbase. The Braintree Bitcoin payment service is currently in public beta.

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These 7 Disruptive Technologies Could Be Worth Trillions of Dollars

These 7 Disruptive Technologies Could Be Worth Trillions of Dollars | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Scientists, technologists, engineers, and visionaries are building the future. Amazing things are in the pipeline. It’s a big deal. But you already knew all that. Such speculation is common. What’s less common? Scale. How big is big? “Silicon Valley, Silicon Alley, Silicon Dock, all of the Silicons around the world, they are dreaming the dream. …
Jan Miranda's insight:
7 Disruptive Technologies potentially worth Trillions:

1. Deep Learning
2. Autonomous Vehicles
3. 3D Printing
4. CRISP Bio Tech
5. Mobile Transactions
6. Robotics
7. Blockchain
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BBVA Taps Blockchain to Make International Payments in Seconds

BBVA Taps Blockchain to Make International Payments in Seconds | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Blockchain may finally be moving out of the lab and into the marketplace.
Jan Miranda's insight:
Banco Bilbao Vizcaya Argentaria SA, Spain’s No. 2 lender, has executed its first cross-border payments through a system called Ripple which is a blockchain protocol similar to bitcoin.

Ripple lets companies track their payments like a FedEx package and see precisely how much it will cost to complete the transfer. The current banking method, which relies on the 40-year-old Swift messaging system, is incapable of providing either of these services.
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Ripple Price Surge Continues, Altcoin Takes Advantage Of Bitcoin Scaling Troubles

Ripple Price Surge Continues, Altcoin Takes Advantage Of Bitcoin Scaling Troubles | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

Ripple's market capitalization climbed over 100% in value within 24 hours on Friday, surpassing Dash to become number three cryptocurrency just behind Bitcoin and Ethereum. 
Ripple takes advantage of Bitcoins scaling issues with new features increase its transaction throughput to same level as visa

Jan Miranda's insight:
While the debate continues within the Bitcoin community, several altcoins have experienced a significant surge in overall value. Cryptocurrencies such as Dash, Ethereum, and Ripple have conquered new levels in price and market capitalization at a time Bitcoin is experiencing scalability issues.

Recently Ripple has introduced new features to improve its Ripple Consensus Ledger (RCL) and Interledger Protocol (ILP) to enhance transaction throughput, especially for cross-border payments. These improvements bring Ripple the same transaction throughput as Visa, the world’s largest payments network.

"Our Payment Channel is specifically designed for XRP and allows transaction throughput to increase to tens of thousands of transactions per second. XRP saw nearly 70K transactions with an average time of 3.7 seconds." - Ripple representative

On Thursday, March 30, 2017, MUFG’s banking arm The Bank of Tokyo-Mitsubishi UFJ (BTMU) publicly announced that it is joining Ripple’s Global Payments Steering Group (GPSG).

Other banks that have already joined Ripple’s GPSG include Bank of America Merrill Lynch, Santander, Standard Chartered, Westpac Banking Corporation, Royal Bank of Canada and CIBC.


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Mercuria introduces blockchain to oil trade with ING, SocGen

Mercuria introduces blockchain to oil trade with ING, SocGen | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

Blockchain the technology built on Bitcoin, has the potential to profoundly affect transactions in the oil industry.

Jan Miranda's insight:
Trading house Mercuria is working with banks ING and Societe Generale on the first large oil trade based on blockchain technology, as the tradition-bound oil industry tests out digital technology.

A cargo shipment containing African crude oil was sold three times on its way to China. Traders, banks, an agent and an inspector were all involved. According to the participants, the result proved that a blockchain-powered system can significantly reduce the time needed to complete a transaction, as well as enhance document reliability, auditability and user experience.

Letters of credit, bills of lading, shipping contracts, insurance, transport and payment are just some of the components of a commodity trade that could be automated by a digital platform. And the transparency and immutability afforded by blockchain technology could remove the risks associated with trust and ensure that each phase seamlessly connects with the next.

The nature of the oil trading sector puts it in a unique position to overtake the financial sector in blockchain implementation.

The current oil industry is dominated by a handful of big players. 

Blockchain can even the playing field and create more competition and has the potential to profoundly affect transactions in the oil industry.
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Swift is Recruiting Banks for Blockchain Tests - CoinDesk

Swift is Recruiting Banks for Blockchain Tests - CoinDesk | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Swift plans hopes banks will sign up for its developing blockchain program after it issues criteria guidelines.
Jan Miranda's insight:
Global financial messaging service provider Swift is seeking to recruit other financial institutions to join its ongoing blockchain R&D initiative.

According to Swift, recruits will include banks with strong liquidity practices for its proof of concept (PoC), which is aimed at replacing the antiquated nostro and vostro account system of settling cross border payments.

The bank believes that following the release of its criteria guidelines, as many as 100 banks will join the project.
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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.
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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.
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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).”
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David Stapleton's curator insight, July 12, 2017 1:12 AM
Network after bitcoin
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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.
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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
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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.

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David Stapleton's curator insight, July 12, 2017 1:11 AM
time is money so they say
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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.

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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.
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5 infographics that explain on year of blockchain news

5 infographics that explain on year of blockchain news | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Here’s a quick overview of a year’s worth of news about blockchains, databases that essentially make records more verifiable and permanent.
Jan Miranda's insight:
If you work in finance or own any bitcoin, you likely already know about blockchain technology. But for those in neither category, here’s a quick overview of a year’s worth of news about blockchains, databases that essentially make records more verifiable and permanent.

Important developments: blockchain’s effect on mobile payments, trade finance, and augmented and virtual reality. 

The more surprising themes and developments: some countries see blockchain technology as a way to cut down on voting fraud, and others, like Australia, are starting to incorporate blockchain into peer-to-peer solar power exchanges.
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David Stapleton's curator insight, July 10, 2017 6:22 PM
Wealth and Business lifestyle 
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Using Blockchain to Keep Public Data Public

Using Blockchain to Keep Public Data Public | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

Recording a transaction on a public blockchain is the digital equivalent of writing something in stone — it’s permanent..

Jan Miranda's insight:
In early February, President Trump’s administration made a change to the White House website. The site’s digital updates are often small and insignificant — updating a photo, fixing a broken link — and therefore may go unnoticed. But this one was different, and it could have an impact on every single American.
The update eliminated the White House’s open data.

The Trump administration’s moves are a return to the opacity of past administrations, it’s a move in the wrong direction. Perhaps most important is what this could mean for the U.S. government’s entire open data strategy, as the administration controls the information that so many businesses, organizations, and individual Americans depend on daily.

Data is under attack. And it is the leaders of our government and economy who are waging this war. They have made it acceptable to manipulate raw data in a way that benefits them financially or politically — and it has lowered public confidence in the veracity of information.

The answer lies with public blockchains, to be specific.

Recording a transaction on a public blockchain is the digital equivalent of writing something in stone — it’s permanent. More important, it’s publicly available for anyone to see and verify.

The first public blockchain was conceived of as a way to record financial transactions, but people have started using it as a way to timestamp the existence of digital files, such as documents or images.

Using the public blockchain in this manner would not only address our data access and manipulation issues but also lay the groundwork for a better system
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'Blockchain Revolution' Authors Launch Enterprise Research Effort

'Blockchain Revolution' Authors Launch Enterprise Research Effort | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it

A group of global governments, tech firms and blockchain startups have announced the launch of a new initiative dubbed the Blockchain Research Institute. , led by the Tapscott Group

Jan Miranda's insight:
The Blockchain Research Institute 

A group of global governments, tech firms and blockchain startups have announced the launch of a new initiative dubbed the Blockchain Research Institute. 

The Blockchain Research Institute is a non-profit organization based in Toronto, Canada, with founding members including Accenture, IBM, SAP, Digital Asset, NASDAQ, Pepsico, the Province of Ontario and Nuco Inc and associate members, including: Hyperledger, Enterprise Ethereum Alliance and the Chamber of Digital Commerce. 

The co-author of "Blockchain Revolution" and CEO of the Tapscott Group, Don Tapscott, explained his vision:

"We want to help our members get a jump and compete, and also, after six months, a lot of this material will come into the public domain under the creative commons license. We want to create a rising tide that will lift all boats."

In addition to the focus on how blockchain will impact actual jobs, the institute aims to distinguish itself from other think tanks and internal working groups by attracting the "smartest people in the world".
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Google just cracked one of the building blocks of web encryption (but don’t worry)

Google just cracked one of the building blocks of web encryption (but don’t worry) | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
Let’s start from th
Jan Miranda's insight:
Google publicly broke one of the major algorithms in web encryption, called SHA-1 (a hashing function). The company’s researchers showed that with enough computing power — roughly 110 years of computing from a single GPU for just one of the phases — you can produce a collision, effectively breaking the algorithm. We’ve known this was possible for a while, but nobody has done it, in part because of the possible fallout.
The good news is, almost no one is still using SHA-1, so you don’t need to rush out and install any patches. But today’s announcement is still a major power play from Google, with real implications for web security overall.

WHAT DO HASH FUNCTIONS ACTUALLY DO?
SHA-1 is a hashing function, which produces a digital fingerprint from a given file. That lets you verify a file’s integrity without exposing the entire file, simply by checking the hash.

Banks, Online Stores, Bitcoin, & Cryptocurrency
Banks & online stores use the hash functions to secure transactions.
Cryptocurrencies like Bitcoin and Ethereum continually evolve using the latest hash functions to encrypt blocks of transactions. Bitcoin uses SHA-256 and Ethereum uses Keccak-256.

WHY DOES IT MATTER?
In practical terms, a broken hash function could be used to break HTTPS, the encryption system that now protects more than half the web. If that system breaks, it would be easy for criminals to insert malware into web traffic from a compromised ISP or other network provider.

SHOULD I BE WORRIED?
Cryptographers have been predicting a collision (that SHA-1 would be broken) like this for years. Since 2005 its vulnerability was theorized. As of January 1st, every major browser will show you a big red warning when you visit a site secured by SHA-1.

WHY DID GOOGLE DO THIS?
Dropping SHA-1 took a lot of time and effort across the industry, and not everyone was eager to do it. The result has been a running fight over how fast make the switch — with Google’s Chrome Security Team providing one of the loudest voices for a faster transition. Chrome was forcing websites away from SHA-1 as early as 2014
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Intel is Winning Over Blockchain Critics By Reimagining Bitcoin's DNA - CoinDesk

Intel is Winning Over Blockchain Critics By Reimagining Bitcoin's DNA - CoinDesk | Bitcoin, Blockchain & Cryptocurrency News | Scoop.it
A look at Intel's project inspired by bitcoin's proof-of-work.
Jan Miranda's insight:
Proof-of-Elaspsed-Time

Proof-of-elapsed-time (PoET) is a variation on the system that bitcoin uses to ensure that computers in the network agree about which transactions really took place, which it unveiled earlier this year. Perhaps better known to cryptographers, this high-tech tool solves the computing problem of "random leader election," or selecting who will create the next block of transactions.

Despite the lack of attention it's received, however, some veteran technologists consider PoET one of the more novel and radical proposals for how a blockchain network could achieve consensus. 

Created by developers at Intel, PoET is notably designed to be used on a certain type of computer manufactured by the tech giant, called trusted execution environments (TEE). On one hand, proponents argue that it's a more environmentally friendly algorithm than bitcoin's proof-of-work (PoW). 

On the other, many open-source developers are skeptical that could be widely used, since it requires trust in Intel.
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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.
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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?
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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.
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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.
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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.

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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.


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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.
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