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Amazon awarded a proof of work patent for Merkle tree technique

Amazon awarded a proof of work patent for Merkle tree technique

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If there is money to be made by an idea, you can be sure that someone is looking to make a fast buck illegally. That is why Google Play announced on May 23 that apps offered in their app store were impersonating popular digital currency apps, which would then allow the developers to steal people’s cryptocurrencies.

According to the report, there were two apps that were masquerading as well known cryptocurrency applications. One, it is reported was fairly harmless, but the other was a serious threat to users. Specifically, the app was pretending to be the popular Trezor wallet, which is one of the most widely downloaded applications by those seeking digital currency information.

The app was meant to trick users into providing their login credentials. It was first uploaded on May 1 and it was not long before it became the second most popular app searched using the term “Trezor.” Users reported that the app was a fake as much as two weeks ago.

While the app is a serious concern for users, there was some good news. According to security analysts, the app cannot harm the Trezor app itself, as this application has several layers of security which could not be breached. However, it still allows the developers to connect to a user’s wallet once they have entered the login credentials. This is when they would be able to steal the digital currency contained in the wallet.

Users are warned that they should check to make sure that they are not using this app. If it is installed on your phone, you may want to take it in to have an expert remove the app, and also change your login credentials.

This is becoming a very serious problem for consumers who want a quality app but have to be worried about their assets being taken. In February, Microsoft announced that there were eight apps in their application store that were being used for cryptojacking. Microsoft removed the apps once they were discovered.

A month later, the malware Gustuff was found to be targeting Android-based applications. This virus allowed the thieves to see all banking information including payment processes and bank information. The virus was so sophisticated that it was able to access over 100 banking applications.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

In a rather surprising move, Netherlands-based Rabobank announced on May 23 that they were canceling plans to offer cryptocurrency services as part of their normal banking operations. This came a little over a year after they had announced their plans to offer cryptocurrency wallets.

When the bank first announced their plans, they wanted to try to bridge the gap between common fiat bank accounts and cryptocurrency wallets. The goal was to offer a full-service opportunity for customers where they would not only be able to have one financial institution offer all of the services they needed, whether fiat or digital, but to also be able to integrate the two types of accounts so transactions between the accounts could occur seamlessly.

After consultation with its customers, Rabobank concluded that this was not the time to offer these services. It was not as much that customers did not want the services, but that the regulations involved would likely have made this more of a nightmare for customers.

“For instance, Dutch authorities, AFM (market conduct supervision) and DNB (Dutch central bank, financial stability) recommend regulations of cryptos at an international level,” the spokesperson told Hard Fork.

The other problem that the institution found was that many customers were skeptical of the validity of the service. According to a spokesman for the bank, many thought that the accounts were fake at first.

Rabobank is not the only financial institution to scrap these kinds of plans. On May 23, ANB AMRO concluded that they would also not be offering cryptocurrency wallets as part of their services.

Government regulation appears to have been a factor for ANB AMRO as well. Dutch authorities have promised to create standards governing cryptocurrency regulations, but those plans have not been revealed as of this date. That has created too much of an uncertainty for these two financial institutions, who have decided is to their advantage to simply wait for now.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Investing in cryptocurrency or traditional financial markets has become a more mainstream concept, with applications making it even easier for the common man to make his money work for him. Now, Proxima Media is looking to broaden those horizons by creating an investment mechanism for movies, TV and music.

The Wrap reports that Ryan Kavanaugh, the producer behind movies like Talladega Nights: The Ballad of Ricky Bobby, Zombieland and The Space Between Us, has invested $100 million in Proxicoin, Proxima Media’s crypto that would allow anyone to help support promising media properties.

The crypto, based on Ethereum, would allow for initial public offerings (IPOs) for each media property that signs up for the service. It would then allow trading of the properties on the Entertainment Stock X (ESX), a platform for speculating on the value of each piece of content.

The exciting element here is an entirely new, but perfectly understandable asset class for the average customer to invest in. “Blockchain technology is enabling new business models that unlock value in traditional industries like film financing. Global audiences can now participate as investors in tokenized offerings through a new asset class,” said Aman Johar, a consultant of Proxicoin. “We are confident that Proxicoin will create unprecedented value by establishing a marketplace for global entertainment assets.”

The chance for increased adoption, and new income sources for creative types, is undeniable. “This exchange will give ordinary consumers worldwide access to investments in their favorite movies, something they love, in a way that was previously only available to a limited few,” said Kavanaugh.

The platform already had 30 films lined up to be listed when the platform is set to launch later this year. It’s unlikely the biggest blockbusters, like Marvel’s Avengers or John Wick 4, would show up in the list, as they already have plenty of funding from their corporate backers, but this does provide a unique chance for smaller film makers to find funding for more innovative ideas.

Hollywood isn’t a total stranger to cryptocurrency. Crypto, a thriller about money laundering, is currently filming with stars Kurt Russel and Liam Hemsworth. We’ll have to wait and see what kind of light the movie sheds on the industry.

Regardless, with a chance to make more money and take some of the financial pressure off of themselves, Hollywood producers are more likely to take a liking to cryptocurrency technology when they realize what Proxicoin can do for them.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Those who want to corrupt the real Bitcoin, and make a strawman against which they can argue their altcoin is superior, have often pointed to double spends and orphan blocks make the digital currency unsafe. In his latest Medium article, Dr. Craig Wright shows the truth about these concepts, and how Bitcoin was built to manage them.

Titled “Economic Security,” the article dives into the specifics of orphan blocks and transactions first. The fear with these are that if miners abandon an orphan block, or reorganize the blockchain, transactions could be lost. That’s just not true though. Wright explains:

“Miners are supposed to maintain the orphan chain in memory. Where an orphan chain or an otherwise forked chain occurs, miners are supposed to keep both chains for a period of time.

“When a fork and orphan blocks occur, miners track transactions under the protocol from both forks. If you don’t get it, read the original alpha code.”

Those who have argued that this is somehow a flaw in the system, and thus requires protocol changes, have done so because they are trying to perpetrate a system to suit their own interests. Wright sees that in Tether, explaining: “The fact of the matter is a badly designed system that is designed with the sole purpose of enabling criminal money laundering, and Tether is being used with other equally poorly designed systems as an argument as to why Bitcoin needed to change. It doesn’t need change.”

The next fear Wright tackles are double spends, which have been one of the primary arguments of those against zero confirmation transactions (0-conf). Again, Wright explains why these fears are unfounded. “Even 0-conf is safe when done correctly in Bitcoin,” he begins. “The problem is that very few people understand the system well enough to implement it correctly. It’s about using SPV [simplified payment verification] and the network as originally designed.”

He goes on to explain that for a miner to even consider facilitating double spends, they would need to put in an immense amount of work, and would almost certainly be caught by the community, and as a result, be in trouble with the law. All it takes is a poll of “a random selection of nodes,” and the activity is caught.

The problem Bitcoin Core (BTC) developers have with this system is that they do not want a system that in any way relies on government intervention, and are building a crippled system to avoid living in a society. They argue against any flaws in the original Bitcoin, now reborn as Bitcoin SV (BSV), because they perceive them as not 100% safe, and they build even more flawed systems as an alternative.

Wright knows there’s no such thing though. “Bitcoin was never cryptographically secure in the way that they’re arguing,” he points out. It’s not designed to be. It’s based on economic security… There is no such thing as ‘100% safe.’ There is only ‘safe enough,’ and it’s all Bitcoin was designed to be.”

For Bitcoin to work as the world’s new money, it needs to be able to handle millions of transactions, and quickly. It can’t get bogged down with hours of waiting time for each transaction. To be able to handle the load, it needs to depends on SPV. He concludes:

“I didn’t have SPV working when I first launched Bitcoin, and I’m glad that I didn’t.

“I’m glad because SPV is utterly critical to making Bitcoin work and scale. And the thing is, nobody got it. As simple as it was, as many hints as I tried to give people, in a decade nobody came close. So consequently, one of the most critical parts of Bitcoin is covered by a patent. Like it or not, there is no way to make Bitcoin scale and work without SPV.”

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Advancements in blockchain technology are proving beneficial in the financial industry. The most recent progress is the introduction of the Finledger blockchain platform, which allows processing of promissory note loans.

According to a news release dated May 21, this new application for this type of legal binding loan agreement will be very beneficial to the entire financial industry. The test stage involved four banks, DekaBank, dwpbank, DZ Bank, and Heleba, which used Finledger technology to complete note transactions. Reportedly, the platform can reduce the processes involved when issuing such notes by more than 50%.

Marion Spielmann, Head of Banking & Depositary at DekaBank, said:

“The opportunities offered by using a blockchain take the product promissory note loan to a whole new level. Together with the other institutes, we have now successfully implemented a digitization project that allows our customers and us to handle the underlying processes completely on a platform-based basis. This is a perfect example of how digitization can increase efficiencies across entire process chains while improving the attractiveness of a product.”

The Finledger blockchain platform will help reduce the risk associated with lending processes for banks. It also eliminates the need for lenders to request and hold documents from borrowers. Additionally, borrowers will not have to part with their valuables or assets during the transaction process. Finally, it will increase security and transparency by recording every transaction on the blockchain.

Peter Tenbohlen, head of operations at DZ Bank, affirms that trading transactions are now fully automated thanks to the progression of digitization. They will be able to meet the demand for digital services as requested by customers. He stated:

“As digitization has progressed, our customers’ demand for digital services has increased significantly. Thanks to the bundled expertise of four banks, we are now presenting a new platform through which trading transactions can be processed fully automatically.”

Reportedly, there are plans to roll out Finledger to other industries. The pilot business is the first step that will be followed by a second phase before going live.

Blockchain technology is taking root in the finical world. Recently, three global banks joined the Finastra R3 Cordablockchain-based syndicated loans platform, which uses blockchain to enable instant sharing of records between financial institutions.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

For Bitcoin to have any chance of replacing existing payment options, it needs to scale to the point where it can handle as many or more transactions than those methods offer. Bitcoin SV (BSV) is proving it’s capable of that massive scaling, with the nChain BSV Node Team, with the help of the Satoshi Shotgun team, showing on the Bitcoin SV Scaling Test Network (STN) that they can now achieve 1.42GB blocks.

The team conducted the tests on May 21, and had the plan of testing bigger block sizes in 200MB increments, until they hit either 1GB or started encountering a natural limit in the software. These increased block size tests were made possible by the recent upgrade to BSV 0.2.0, which now allows block sizes of up to 10GB on the testnet.

They quickly saw the success they were looking for, surpassing previous records and mining five 1GB+ blocks in total, with two at 1.42GB. They encountered two small issues, with block explorers experiencing degraded services and bandwidth restrictions in China affecting a node, but they didn’t cause any major issues. Brad Kristensen, STN operations manager, wrote that they ended the test because the “Stresstest team and the nChain team both needed some sleep.”

Discovering those two issues were a productive step though. As Kristensen notes, the reason for testing higher block sizes was to “identify those breaking points well in advance,” so they could be addressed before the mainnet gets bigger blocks.

The biggest block handled 359,793 transactions, which is quite a feat when compared to the narrow capacity of Bitcoin Core (BTC). Kristensen notes in the test plan that transaction counts are more of a constraint than block sizes now, and this test was a way to help analyze that.

These new 1GB+ block sizes are being rightly celebrated in the BSV community. Dr. Craig Wright, the man behind the pseudonymous name Satoshi Nakamoto and creator of the Bitcoin whitepaper, said of the news:

“When I started developing bitcoin, the existing Visa network could process 15 million Internet purchases a day. It is now closer to 25 million a day but with the results from my team we have shown that bitcoin will shortly be able to exceed this level. With Moore’s law bitcoin is capable now of scaling faster than Visa or MasterCard combined.”

Bitcoin Association Founding President Jimmy Nguyen also had something to say about the test. “Big blocks, big businesses,” he began, focusing on the ultimate end goal of bigger blocks. “With these impressive test results, Bitcoin SV continues its path to massive scaling to become the global enterprise blockchain—just like Bitcoin’s creator Craig S. Wright (Satoshi Nakamoto) always intended.”

Remarking on how other so-called Bitcoin developers, like the BTC team, have strayed, Nguyen noted, “The other projects which claim Bitcoin’s mantle have abandoned that vision, but we are building the original Bitcoin every day now on Bitcoin SV.”  

The developers behind the BSV also had plenty to say about this recent success. Daniel Connolly, BSV’s lead developer, wrote: “These achievements show that we’re on the right path with our improvements to the node implementation, but more importantly, they show that Bitcoin, as originally designed, scales.”

Steve Shadders, BSV’s technical director, wanted to celebrate the successes of the team, and what this means for Bitcoin’s future. “I congratulate the Bitcoin SV team for exceeding expectations once again,” he began. “For me the most exciting metric captured in this test is the block transaction fees. For the first time ever we have seen a block where the transaction fees collected exceeded the block reward. This means Bitcoin is finally becoming the Bitcoin that Satoshi envisioned, driven and incentivised by transaction fees. We are entering a new paradigm not only with the advent of data use cases but also in the fee driven behaviour of miners.”

Finally, Kristensen wanted to thank the efforts of the SV Node team, who made this possible with their hard work and professionalism. “A truly commendable effort was put in by Steve, Daniel and the rest of the SV Node team, their work is world class and the rigorous QA and testing their code is put through shows in the results we achieved today,” he wrote. “Part of the 0.2.0 release to make this possible included a hard fork on the STN chain, which went through without a hitch or “lost” transaction.”

This massive news is a yet again a testament to BSV’s ability to scale the blockchain and achieve a new vision for the world’s money and data. If you want to join in on the celebration, the CoinGeek Toronto scaling conference is started in less than a week at the Carlu in Toronto. If you haven’t already, register now to see other exciting things going on in the world of Bitcoin, and maybe meet some of the people who made this success possible.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

The latest update to the Firefox browser allows users to automatically block cryptocurrency mining scripts, in a bid to prevent browser-based scripts from hijacking processing power.

In its latest release, Mozilla has included an option under “Privacy & Security” tab allowing users to automatically block “cryptominers” from running in their browser, allowing users to reclaim control of their browsing experience.

Cryptocurrency mining scripts usually run in the background without the consent or knowledge of the user, harvesting excess processing power without permission to mine for cryptocurrencies.

Mozilla said the risks posed by these scripts is very real, noting, “These scripts slow down your computer, drain your battery and rack up your electric bill.”

(Source: Mozilla)

Mozilla has partnered with cybersecurity company Disconnect to deliver the automatic block, which has been in beta testing since April. The plans were first announced by the company last August, as part of its drive to prevent third party scripts from compromising the browsing experience.

Crypto mining scripts are being used with increasing frequency, both as a feature of coordinated attacks and, in some cases, an alternative revenue stream to selling ads. While illicit mining blazed the trail for the use of these scripts to generate cash from unsuspecting visitors, the scripts have become an increasingly common feature of high traffic websites.

The scripts have been known to result in hardware issues from overheating, as well as accruing unnecessary costs while delivering a less efficient browsing experience.

2018 figures from Skybox Security suggest cryptojacking is involved in as much as 32% of cyberattacks, vastly outstripped ransomware as the malicious script of choice for online scammers.

With its most recent update, Firefox becomes the latest browser to take action against these often-undetected scripts.

It follows similar measures from Opera, which offers anti-mining software on its mobile app, and Google Chrome, which excludes add-ons running crypto mining software. With cryptojacking scams at an all-time high, it remains to be seen whether this will have any impact on the number of people affected by these scripts in future. 

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Chinese e-commerce giant JD.com has applied for over 200 blockchain patents, a report by the Securities Daily revealed. The company, also known as Jingdong and formerly as 360Buy, is one of the leading blockchain patents applicants in the world. The report also revealed that China has continued leading the world in blockchain applications, accounting for close to half of all the blockchain patent applications.

JD.com, which is the world’s third-largest internet company after Amazon and Google, revealed its blockchain endeavors during the National Science and Technology Week. Making the information public for the first time, the company stated that the patents cover diverse areas including product quality, traceability, credit network, value innovation, digital deposit certification and more.

And yet, even with over 200 applications, JD.com isn’t the leading patents applicant in China. Internet and financial services giant Alibaba leads the pack with 262 applications. The company is ranked second globally in that regard. Other internet giants in China haven’t lagged behind either. Entertainment and gaming giant Tencent has 80, while search engine giant Baidu has 50.

The blockchain patent game is only heating up, one expert told the publication. Wu Sijin, who serves as the CEO of Hangzhou Fuzamei Technologies, believes that this is because the value of blockchain technology is becoming increasingly recognized. The patents are especially important for small and medium sized companies to acquire, he added. This is because not only do they protect the copyrights for the company, but also enhance the company’s brand image.

China has held on to its position as the blockchain patents hub globally ever since taking over from the United States. According to the report, the country had 4,435 blockchain patent applications between 2013 and 2018. This accounted for 48% of all he patents during that period, a proof of the country’s dominance. In comparison, the U.S had 1,833 applications which accounted for 21% of the overall applications. Canada, Japan, South Korea, the U.K., and Australia were some of the other notable players in the field.

2018 was the peak year for blockchain patent approvals, a recent report by The Next Web revealed. Over 1,050 applications were approved globally. The report recognized Dr. Craig Wright and Yao Qian, the director of the People’s Bank of China Digital Currency Research Institute, as some of the most prolific individuals in the field. nChain was also recognized as the leading patent applicant, leading the pack in 2019 already with over 50 applications so far.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Dutch bank ABN AMRO has been busy in recent days, with cryptos and blockchain taking center stage. The bank, the third largest in the Netherlands, revealed that it has cancelled its plans for a custodial cryptocurrency wallet. It also announced that it was exploring the options to launch a blockchain platform that will provide real-time insights into trade inventories.

According to a report by The Next Web, the bank will no longer develop its cryptocurrency wallet. The publication cited Jarco de Swart, the bank’s senior press officer who revealed that the bank had abandoned its plans. And the reason for the change of heart is because the bank believes cryptos are too risky. de Swart stated:

“We have approached all the people who have shown interest. We have concluded that cryptocurrencies because of their unregulated nature are at the moment too risky assets for our clients to invest in.”

Reports surfaced back in January revealing that the bank was developing a crypto custody wallet known as Wallie. According to The Next Web, the bank conducted a survey with 500 of its top clients, asking for their input and their expectations.

Further reports from inside the bank suggested that the wallet would serve as a custody service. This means that the clients would have to forfeit their private keys as well, giving the bank full control of their cryptos. Not surprisingly, many in the crypto community were critical of the approach, and Wallie was squashed.

Nevertheless, the bank is still a big blockchain proponent, announcing recently that it was exploring the options to launch Forcefield, a digital blockchain-based platform that will provide real-time insights into trade inventories.

Forcefield will rely on the Internet of Things (IoT), near field communication chips and sensors to monitor physical trade inventories. This will make it possible for users to monitor these inventories more effectively, leading to reduction of associated costs and more secure physical handling processes.

Some of the major companies that have signed up to launch the platform include Accenture, ING Bank, Anglo American, OCBC Bank, Macquarie, Mercuria and CMST International. Accenture has been the technology provider for the project which has been in development for the past 12 months.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

London-based global funds transaction network Calastone has announced the launch of its blockchain-based decentralized market infrastructure (DMI). According to its press release, the DMI will be the “largest community of global financial services organizations connecting and transacting via distributed ledger technology.”

Calastone connects many of the world’s leading financial institutions, boasting of over 1,800 customers spread across 41 markets. Its clients include JP Morgan Asset Management, Old Mutual, F&C Investments, Findlay Park, Henderson Global Investors and KBL European Private Bankers.

The firm has been testing its blockchain platform for close to two years, the release revealed. The DMI will provide Calastone’s clients with a common global marketplace for the trading and settlement of funds. The platform will also help the clients save billions every year, the firm stated, adding:

“Calastone has highlighted the scale of tangible value the DMI could bring to the industry, forecasting more than £3.4bn in savings per year for the mutual funds market worldwide, achieved through the technological mutualisation of the distribution model.”

The DMI will be available to financial services firms across the globe. It will give them a “fully mutualised global funds marketplace whereby the trading, settlement and servicing of funds is conducted in real-time.” It will bring down the ever-inflating costs associated with running such platforms while also stripping out the operational burdens for the customers.

The move by Calastone is significant given its huge customer base. The firm, which has offices in Luxembourg, Singapore and Sydney as well, process over 9 million messages and £170 billion ($216 billion) of transactions each month. The firm boasts of 99% coverage in the U.K., with its systems supporting over 190 types of messaging formats and standards.

Julien Hammerson, Calastone’s CEO stated, “The launch of the DMI today marks an important step for the entire funds industry, creating a friction-free global marketplace for funds. By leveraging the latest technology we are able to provide the investment management community with the tools they need to control risk and cost, while meeting the evolving needs of investors.”

Blockchain technology is being integrated into operations by global corporations as well as governments at an accelerating rate in the past few years. Earlier this month, the government of Malta announced that it would run its Registry of Companies on a blockchain system. In doing so, it became the world’s first government agency fully run on blockchain.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Blockchain tech firm Bitfury has announced a partnership with a significant financial hub based in Kazakhstan, which will introduce blockchain technology to several strategically important sectors, The Astana Times reported.

The Nur-Sultan based Astana International Financial Centre (AIFC) will leverage expertise from Bitfury in developing new applications for the technology, as well as in supporting local startups to reach global mainstream markets.

The partnership will also see Bitfury establishing data centers in Kazakhstan, while the firm will also deliver training in blockchain and distributed ledger technology at the AIFC Bureau for Continuing Professional Development.

AIFC Governor Kairat Kelimbetov said the partnership would help aid the development and understanding of blockchain tech in the region. He noted, “We are pleased to welcome Bitfury in Kazakhstan and the AIFC is ready to support the development and distribution of blockchain technology in the region. I am confident that the development of human capital will receive an additional inducement as well.”

Bitfury CEO Valery Vavilov described the partnership as a mechanism for better serving people in Kazakhstan, as well as providing a boost to blockchain startups in the country.

“We are encouraged by their enthusiasm for more transparent systems as well as their commitment to participate in a growing global economy powered by blockchain technology. We look forward to serving the citizens of Kazakhstan and the region in these efforts,” Vavilov said.

Bitfury’s Kazakhstan Head Timur Bairov said the partnership was confirmation of Bitfury’s commitment to strengthening its reach in central Asia.

“Bitfury has already shown its strong commitment to education and equal access to technology through its blockchain operations in Georgia and Ukraine, among others. We believe that we can help to build a brighter future for the people of Kazakhstan by introducing blockchain technology across many sectors,” he said.

The AIFC represents financial industries throughout Central Asia, as well as serving as a strategic hub between regional businesses and counterparts in the Caucasus, Eurasian Economic Union, Middle East, Western China, and Mongolia, before extending into Europe.

The partnership is the latest venture by Bitfury, after the firm notably partnered with a Swiss investment company in April to create a mining fund aimed at institutional investors.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Amazon has previously filed a patent “for various techniques to build” a cryptographic proof-of-work system two years ago in December 2016. Last week, the U.S. Patent and Trademark Office (USPTO) awarded them that patent. The technique involves Merkle tree structures and blockchain technology.

The Merkle tree structure concept dates back to the late 1970s. It was named after a computer scientist named Ralph Merkle, one of the inventors of public key cryptography, and allows for large amounts of data to be mapped and identified for easier indexing and verification.

While the development doesn’t indicate any sort of partnership between Amazon and a blockchain startup – it does show that one of the most powerful and influential online retailers in the world sees value in blockchain technology.

The company made it clear that cybersecurity was important in relation to the patent, stating:

“Requiring a valid proof-of-work may mitigate a DOS or DDOS attack by causing the participants of the DOS or DDOS attack to generate a valid proof-of-work solution, which may require the use of computational resources on the attacking systems and dramatically reduce the rate at which entities participating in the attack may send requests.”

This is not the first blockchain-related patent that the E-commerce giant has filed. In fact, in 2014, Amazon received a patent that included Bitcoin as a potential funding source for its cloud computing arm, Amazon Web Services (AWS).

The company also quietly snatched up domain names related to the cryptocurrency sector in 2017, as well, such as “amazoncryptocurrencies.com”, “amazonethereum.com”, and “amazoncryptocurrency.com.” it is still unclear what the company plans to do with these domain names.

AWS also announced a partnership with R3, making it so that AWS can utilize the distributed ledger technology offered by the company’s popular Corda platform. Even with all of these announcements, Amazon still does not accept cryptocurrencies as a form of payment.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Source from : coingeek
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