Top news and views about Blockchain for 2 Jul 2017
CrowdifyClub Category: Blockchain
(Tip: To open the tweet in a new window 'Right-Click' the 'Tweet This Story' text and 'Open link in new tab')
Disruptive tech like Blockchain is here to stay, law will have to simply catch up
With the recent spate of cyber attacks Wannacry and Petya, the topic of blockchains and bitcoins have once again gained interest as possible mechanism for information insulation.
Blockchain is a distributed ledger that records historical transactions of any asset or currency. Upon joining a blockchain each member obtains a file of the transactions, the ledger, on their computer. When a transaction is sought to be made, the computer of that blockchain member notifies all the compute ..
The "miner" notifies the others upon solving the algorithm and if the others agree, everyone updates their file and the transaction is processed. Each block contains the "current" transactions of an asset. Each block contains a hash link to the previous block containing the past transactions. Once the current block is "completed" it gives rise to a new block of current transactions. Each block is timestamped and the blocks arranged together in linear, chronological order form a blockchain.
According to the 2016 report by the World Economic Forum on The future of financial infrastructure, over US$1.4 billion in blockchain technology ("BCT"). The government of UK and India have conducted extensive studies on the applications of BCT especially in the financial services sector. Estonia, considered to be a leader in BCT, Georgia and the US (State of Delaware) have implemented BCT for encrypting public records. Leading international and national banks in Dubai, Singapore, India, UK and ..
Full story at http://bit.ly/2ty1d8r
Source: The Economic Times India
Finally, Goldman Sachs Publicly Embraces Blockchain
The mainstream banking and financial sector has always been hostile towards Bitcoin and other cryptocurrencies. While there haven’t been any significant changes in their stance, they have definitely warmed up to the use of blockchain technology.
Goldman Sachs, one of the leading financial institutions in the world has come out of the closet to embrace the technology openly. The institution has done so by dedicating an entire web page for distributed ledger technology.
The page on Blockchain technology has enough content to offer a crash course on distributed ledger and its various applications. The user-friendly web page allows the visitor to scroll through the “slides” accompanied by graphic representations to offer a clear understanding of the concept of blocks, blockchain, its use in record keeping, smart contracts and of course, the security features.
Even though Goldman Sachs hasn’t been comfortable with Bitcoin as a store of value, the institution has involved itself in few cryptocurrency related startups. It is one of the investors in blockchain based financial services application, Circle. Also, Goldman Sachs was part of the R3CEV led R3 Global Blockchain Consortium until it made an exit late last year. The financial institution has also invested in Digital Asset Holdings, a distributed ledger solutions company led by ex-Wall Street executive Blythe Masters.
Full story at http://bit.ly/2txSzXC
Source: NewsBTC
Blockchain technology is moving into the financial mainstream with IBM and seven European banks
IBM is building blockchain technology that will be used by seven of Europe's largest banks, including HSBC and Rabobank, to facilitate international trade for small and medium-size enterprises, the company said on Tuesday.
The project will mark one of the first real-world use cases of blockchain technology in financial institutions. The potential of blockchain has been praised by the banking industry over the past couple of years, but the first real applications are beginning.
Blockchainis ageneral term for a distributed digital ledger that can record transactions and is tamper-proof. It's the underlying technology that makes cryptocurrencies such as bitcoin and Ethereum possible, but it has also been talked up by banks as a way to streamline processes and make them more efficient and cheaper.
IBM is building this new blockchain, Digital Trade Chain, to help parties track, manage and transact internationally.
Full story at http://cnb.cx/2ty1atw
Source: CNBC
Israeli blockchain companies that shoot for the stars
Blockchain, the technology underlying bitcoin and other cryptocurrencies, is one of the newest games in town and Israeli start-ups are trying hard to position themselves prominently in the field. With its cybersecurity and financial technology acumen, the country is well placed to play a role, say experts.
But how blockchain applies to the real world, apart from bitcoin and its ilk, often remains unclear. And the suspicion is that it will be a niche product, helping other technologies to operate in a secure or more efficient way. Yet, the ambitions of many in the industry go far beyond that.
Three founder-CEOs of Israeli blockchain startups explain their often rather grand visions for the future of their companies. Colu, which is the only one really up and running in its intended field, and Synereo are linked to the now almost familiar field of cryptocurrencies but the third, called Wave, proposes a very different idea.
Full story at http://cnb.cx/2tya6iB
Source: CNBC
The Identity Solution
Read any newspaper in the world and you know there are challenges – refugee crises, cybersecurity threats, broken institutions, civil unrest, the list goes on.
Beneath the surface of these boiling problems lies a deeper challenge—to which many are unaware. There is no established and secure digital identity system with a verifiable biometrics component for the 7.5 billion people living on Earth.
Who are you, and how do I know you are who you say you are? What do you do when someone takes your identity? How do I know this is your vote? How do I know that you are not a threat? How do I know that I can trust you?
For too many, a lack of verifiable identity means a lack of access – to a voice, to the world economy, to medical care, to mobility, to land. In an increasingly digital world, according to the World Bank, there are more than 1.5 billion people who, for all practical purposes, do not exist. And for countless businesses, governments and institutions, this absence of a trusted identity system is an expensive and increasingly difficult predicament.
Full story at http://bit.ly/2ty4Rzm
Source: Forbes
Blockchain raises $40 million from Lakestar and Google's venture arm
LONDON - Bitcoin and blockchain technology company Blockchain has raised $40 million (£31.5 million) in its second round of institutional funding.
European venture capital fund Lakestar and GV, Google's venture capital arm, both led the round. Nokota Management and Digital Currency Group also took part in the investment, as did Blockchain's existing investors Lightspeed Venture Partners, Mosaic Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson.
The Series B funding takes the total raised by Blockchain to $70 million (£55.2 million). The company claims the investment is the biggest into a UK startup since Brexit. (Blockchain is officially headquartered in Luxembourg but most of its staff work in London.)
Blockchain was founded in 2011 and makes tools for people to use bitcoin and blockchain, the next-generation database technology that underpins the digital currency. Blockchain.info is the world's biggest provider of digital wallets for bitcoins, with close to 15 million open accounts.
Full story at http://read.bi/2txFQEw
Source: Business Insider Nordic
Prepared by @SydesJokes
Original post from: http://Blog.CrowdifyClub.com/
Register for your FREE CrowdifyClub account.
Really nice informative updates on the blockchain moving into the world @sydesjokes
Great post @sydesjokes
Thank you very much for your time and informations !! 😎
Have a nice weekend with best regards from Cologne Germany
Lars @laloelectrix
Colu is a scam. its run out of Tel Aviv Israel ,the sextrafficking and moneylaundering capital of the world. Of course they want to get involved with centralized banks and hedgefunds