Dash SMS Crypto Service In Venezuela Launched

Dash has recently announced a new service that will enable users with no access to Smartphones and Internet access to carry out crypto transactions.

Dubbed as Dash Text, it is a SMS-based cryptocurrency transaction service for people living in Venezuela.

This would be a very useful feature for a country that is grappling with hyperinflation and have turned to cryptocurrencies to mitigate its effects.

The project was made possible in partnership with BlockCypher, a blockchain solutions provider that enables users to engage multiple currencies using one platform.

Dash Text is currently in beta testing and will enable users of Valenzuela’s largest telecom providers, Movistor and Digitel, to access Dash services via simple five-digit shortcode.

According to Bradley Zastrow, Global Head of Business Development at Dash Core, Dash Text is a solution of real world problem of sending money without the expense and inconveniences that users usually encounters using traditional money transfer service providers and banks.

Moreover he proudly proclaims that they have provided a solution without having to have smartphone and internet access.

Institutional Investors Taking Positions In Bearish Crypto Market Conditions According to Q3 Report Of Grayscale Investments

In a recent report by Grayscale Investment, a digital currency investment firm, institutional investors are taking up positions to take advantage of the current bearish condition of the crypto market.

The report highlights that smart money may be buying into digital currencies in anticipation of an upcoming rally.

The Grayscale Digital Asset Investment Q3 reports shows an inflow of $81.1 million into the company’s digital currency trusts.

70% of the money that came in was from institutional investors.

The yearly total of investment that have flown into the firm’s investment products is around $329.5 million with 59% of it was came from institutional investors.

Majority of the investors are buying into Bitcoin Investment Fund which constitutes around 66% of all investment into digital currencies.

This suggest that majority of investors prefer to invest in the world’s largest and most popular digital currency.

It was also interesting to know that the second largest type of investor after institutional investors are retirement accounts which comes in 18% while accredited investors coins in third with 11%.

The last group of investors comes from family offices which come in 1%.

One Of America’s Largest Bank Wins Crypto Storage Patent

The Bank of America has recently been awarded a patent that is described as a system or device that can provide real-time response security breaches in order to prevent misappropriation of private cryptography keys.

The patent notes that the vast majority of private keys are stored in regular consumer-grade devices and susceptible to being hacked.

The system can be compared to a digital safety deposit box that is insured and backed by a major banking corporation.

Now that the bank has the patent on the idea means they might, for an extended period of time be the only firm that can provide it.

The biggest beneficiary of such a system or device or whatever form it may take will be the exchanges and other clients that have massive amounts of cryptocurrencies that has been the target of most hack attempts.

Bank of America wants to offer clients the ability to know in real-time when their private keys are being with and enable a quick response mechanism to stop or mitigate the situation.

New IBM Patent Seeks Trust Among AR Game Players And Real World Locations

According to IBM, augmented reality is a form of gaming that is tied to a location that is overlaid by images of more game items such as characters, resources, or internal game locations.

IBM wants to make its mark in this realm and introduce a system to develop trust in the new gaming type through a blockchain-powered platform.

IBM’s latest patent application is aiming to deter augmented reality (AR) game players from intruding on undesirable locations.

It describes a blockchain-based method and system of interactions between a AR-running mobile devices and location database in order to set and maintain safe boundaries between AR objects and real-world physical locations.

The system will be able to send data to AR-enabled mobile devices about whether a certain location is undesirable.

The system will also be able to modify certain AR objects that are indicated as undesirable displaying them on mobile devices.

Through this system IBM will provide a guarantee of Trust between real world locations and location-based AR games.

Lightning Hackday In Wall Street

Lightning and Bitcoin developers trooped to Wall Street on October 27th and 28th for a two day event dubbed as the Lightning Hackday.

The said event is not your ordinary crypto event and can be more described as a community-led endeavor with many participants coding on the sidelines.

Lightning network is a second layer solution that has been proposed to address some of the scaling problems betting the network of the most popular and biggest cryptocurrency in the crypto verse.

This is seen as one of the major barriers for mass adoption.

There were many ideas that was shared during the said event, from futuristic ideas envisioning grand and elaborate use cases to simple applications that leverages the speed and cost effectiveness of using the lightning network.

However one of the most practical and useful recommendation that was shared during the event is the initiative to make the use of lightning network easier to setup and use.

Some of the people who are in attendance reveals that setting up the lightning network is a challenge in itself and making this easier for regular users is as important as discovering the killer app that can spur mass adoption.

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