Daily Archives: May 2, 2017

OneGram & Dubai Trading Platform In $0.5Bn ‘Gold-Backed’ Cryptocurrency Venture – Forbes

Posted: May 2, 2017 at 10:40 pm


Forbes
OneGram & Dubai Trading Platform In $0.5Bn 'Gold-Backed' Cryptocurrency Venture
Forbes
Islamic financial services and technology company OneGram is partnering with GoldGuard, a Dubai-based online gold trading platform, that is building one of world's largest gold vaults inside the Dubai Airport Free Zone, to create the first completely ...

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Digital Identity: How a Cryptocurrency Could Lead to the Most Fundamental Change in Identity in Centuries – Westlaw Insider (blog)

Posted: at 10:40 pm

Long viewed as the anonymous, digital currency used by those in the illicit drug trade, the technology that makes Bitcoin secure (known as blockchain) is about to radically change how we identify ourselves. More fundamentally, the very concept of what identity means will be altered over the next five to ten years. This paradigm shift will have widespread implications for developed and developing countries, where the lack of trusted institutions has led to large numbers of people being effectively unbanked. Yet, this should not be surprising given that Bitcoin is not actually anonymousto the contrary, it is very transparentnor is it a driver of the illicit drug trade. If every bitcoin in existence was used during this year to buy illicit drugs, it would only account for approximately four percent (4%) of the global drug trade. Based on its universal acceptance and truly anonymous nature, the number one currency of choice for drug traffickers around the World is the United States Dollar.

When applied to identity or information about ourselves, blockchain shows promise of providing a means for people to store that data using public key encryptionan asymmetrical form of encryption impervious to brute force attack. While there are several blockchain-based identity platforms that rely solely on this aspect of the technology, several researchers are leveraging the power of data analytics and machine learning to further enhance the identity security provided by blockchain. Traditional anti-fraud software was good at identifying the occasional transaction that was determined to be suspiciousbut in practice, its effectiveness was limited. Because of advances in artificial intelligence, especially in the areas of deep learning and pattern identifying models, analytics are becoming predictive in nature, which is incredibly more powerful than prior generations of technology. When these advances in artificial intelligence are combined with the secure, tamper proof nature of a blockchain, we are once again able to engage in commerce with significantly less concern about our identity being destroyed by another.

We are also able to move through our economic activities with far less friction. For instance, if you obtain a bank account at Bank #1, then from an AML/BSA perspective, there should be no reason for Bank #2 to request anything beyond what is necessary to determine you are the same person that opened the account at Bank #1. Its important to note that control over the private key associated with a persons identity should not necessarily result in a stolen identity. This is where the advances in AI add an additional layer of value, all made possible by its decentralized form.

Storing data, however, is not in and of itself a panacea, the real paradigm shift lies in the ability of individuals to have granular control over what they share with others. For example, if a person has an account with Bank #1and wants to open an account with Bank #2, then that individual may choose not to tell Bank #1 and provide more documents to Book #2. Its this granular control over data and its dissemination that will ultimately unseat todays incumbent technology giants from their near monopoly over the data we generate from our day-to-day activities, and finally return to each person what rightfully belongs to themtheir identity. A fairly dramatic sea change is possibleall from a not so anonymous cryptocurrency.

Find additional resources and insights regarding digital identity on Secondary Sources on Westlaw. Youll find that weve introduced several new enhancements that will make your research experience easy, intuitive and efficient. See the new Secondary Sources experience and access the largest collection of leading and premier analytical materials on Westlaw (Westlaw log-in required).

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Digital Identity: How a Cryptocurrency Could Lead to the Most Fundamental Change in Identity in Centuries - Westlaw Insider (blog)

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Danish blockchain company OpenLedger gives students free cryptocurrency – CryptoNinjas

Posted: at 10:40 pm

Ronny Boesing, Founder of OpenLedger ApS, presented The Beginners Guide to Blockchain, Bitcoin, BitShares and OpenLedger to the students of University College of Northern Denmark (UCN) on April 28, 2017.

Based in Pandrup, Denmark, the OpenLedger Decentralized Conglomerate (DC) is the worlds first blockchain powered conglomerate, based on BitShares technology, supporting an ecosystem, which includes the OpenLedger Decentralized Exchange (DEX) and OpenLedgers Crowdfunding (ITO) Services.

Students attending the lecture learned about Blockchain, Bitcoin (BTC), BitShares (BTS) and the OpenLedger DC and how these terms and systems are the future systems for investment, trade, and financial growth.

Ronny Boesing, CEO of OpenLedger ApS, said:

Most of the workshops and lectures I have been asked to give, recently, are on Blockchain, Bitcoin, BitShares, and a general introduction to the world of crypto. This whole landscape is still a mystery to many students. It is already proof-positive that the future is based on the Blockchain, which just like FIAT, is built on a system of trust.

The OpenLedger DC is a dynamic platform with many facets, and a great starting point for the students of UCN to learn about the future of contracts, data transfer, information distribution, money and investing. Knowledge is power. There is no better way to understand something than to start using it.

A copy of the presentation can be seen below:

As an added incentive to the students of UCN, OpenLedger is giving each student 10 free OBITS, the cryptocurrency of OpenLedger, which is tradable on the OpenLedger DEX.

Students of UCN can receive 10 free OBITS by opening an OpenLedger account and then emailing [emailprotected] from an official university email address with your account name and OpenLedger user ID. Students will then receive 10 OBITS dropped into their accounts where they can start trading, free.

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Bitcoin soars above $1,400 to all-time high | Reuters

Posted: at 10:39 pm

LONDON Bitcoin surged to an all-time high above $1,400 on Tuesday, after more than tripling in value over the past year, with its most recent rise attributed to strong demand in Japan, where the digital currency has been deemed a legal means of payment.

Cryptocompare, a data website that analyses bitcoin trading across dozens of exchanges globally, said around 50 percent of trading volume over the past 24 hours had been on the bitcoin/Japanese yen exchange rate.

"The Japanese have recently warmed their approach towards bitcoin by treating it legally as a form of payment - a ratification and bringing into the regulatory fold," said Charles Hayter, the website's founder.

"China's clampdown on exchanges can also be seen as a positive move for the industry too," he added.

Chinese authorities have increased scrutiny of exchanges this year and have forced them to start charging trading fees, after becoming concerned about bitcoin speculation and its potential use in money laundering.

Bitcoin surged as much as 3 percent on Tuesday on the Europe-based Bitstamp exchange, where trading is dollar-denominated, to hit $1,437 BTC=BTSP, its highest since its 2008 launch. That marked a more than 200 percent increase from its price in early May last year.

Its current levels put the total value of all bitcoins in circulation - the so-called "market cap" - close to $25 billion, putting its worth on a par with a large-cap company.

Bitcoin analysts said the price had also been boosted by a request by the BATS exchange that the U.S. Securities and Exchange Commission review its March decision not to approve a bitcoin-tracking ETF set up by the Winklevoss brothers.

(Reporting by Jemima Kelly, editing by Nigel Stephenson)

WASHINGTON The U.S. National Security Agency collected more than 151 million records of Americans' phone calls last year, even after Congress limited its ability to collect bulk phone records, according to an annual report issued on Tuesday by the top U.S. intelligence officer.

SAN FRANCISCO Apple and Facebook may expand their already outsized share of U.S. technology revenue when they report their earnings this week, as investors look for evidence to justify this year's U.S. stock market rally.

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Bitcoin Is Soaring Above $1400 to Another All-Time High – Fortune

Posted: at 10:39 pm

Bitcoin surged to an all-time high above $1,400 on Tuesday, after more than tripling in value over the past year, with its most recent rise attributed to strong demand in Japan, where the digital currency has been deemed a legal means of payment.

Cryptocompare, a data website that analyzes bitcoin trading across dozens of exchanges globally, said around 50% of trading volume over the past 24 hours had been on the bitcoin/Japanese yen exchange rate.

"The Japanese have recently warmed their approach towards bitcoin by treating it legally as a form of payment - a ratification and bringing into the regulatory fold," said Charles Hayter, the website's founder.

"China's clampdown on exchanges can also be seen as a positive move for the industry too," he added.

Chinese authorities have increased scrutiny of exchanges this year and have forced them to start charging trading fees, after becoming concerned about bitcoin speculation and its potential use in money laundering.

Bitcoin surged as much as 3% on Tuesday on the Europe-based Bitstamp exchange, where trading is dollar-denominated, to hit $1,437, its highest since its 2008 launch. That marked a more than 200 percent increase from its price in early May last year.

Its current levels put the total value of all bitcoins in circulation - the so-called "market cap" - close to $25 billion, putting its worth on a par with a large-cap company.

Bitcoin analysts said the price had also been boosted by a request by the BATS exchange that the U.S. Securities and Exchange Commission review its March decision not to approve a bitcoin-tracking ETF set up by the Winklevoss brothers.

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Bitcoin Is Soaring Above $1400 to Another All-Time High - Fortune

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The Surprising Reasons For Bitcoin’s Rising Price – Investopedia

Posted: at 10:39 pm


Investopedia
The Surprising Reasons For Bitcoin's Rising Price
Investopedia
The price of Bitcoin went up by over 210% during the past year, trading from about $450 in mid-2016 to record-breaking levels of $1,400 in May 2017. In the eight years since its founding, Bitcoin has braved skepticism, rejection, and experienced ...
Here's Why Russia Opens The Door To CryptocurrenciesValueWalk

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Bitcoin Breaks $1,400 | PYMNTS.com – PYMNTS.com

Posted: at 10:39 pm

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On Monday, and for the first time ever, bitcoin was worth over $1,400.

While the days high was $1,422.22 according to CoinDesk, trading at the time of writing was closer $1,413, up 4.88 percent for the day, up 42 percent from the start of 2017 and up a whopping 215 percent from this time last year.

If theres any probable cause for the rise, its likely that the SEC recently announced plans to review last months rejection of the proposed Winklevoss Bitcoin ETF.

At the time, the SEC nixed listing the twins ETF on the Bats BZX Exchange due to lack of oversight, regulation and the potential for fraud in the broader bitcoin space.

The SEC looks to address the Bats petition for review and has opened up for comment for or against before May 15. Though, since not much has changed for bitcoin in the way of regulatory overhaul in the past few months, it doesnt seem likely that the SECs previous decision will be overturned.

The rise in price comes at a point in bitcoins story when exchanges are experiencing service disruptions due to banks pulling out of high-risk areas the case with Bitfinex, BTC-e and OKCoin International.

The situation at Bitfinex led to a notable widening of exchange spread. This has held pace alongside the value spike. At the time of writing, BTC traded at over $1,520 on the Hong Kong-based exchange.

For now, traders can rest at least somewhat assured that this isnt going to turn into another Mt. Gox. By the numbers, Mt. Gox traded between 10 to 26 percent higher than its competitorsin its final days. Though the potential for arbitrage at Bitfinex is still a concern.

Elsewhere in the ecosystem, a number of Chinese exchanges are still halted a month and a half after they were due to unfreeze digital currency withdrawals, as talks continue with the Peoples Bank of China (PBoC).

While service upgrades have been completed, exchange officials and the PBoC are still at odds over the know-your-customer rules to be enforced on reopening.

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SC students get results back from space station experiment – WSPA.com

Posted: at 10:38 pm

COLUMBIA, S.C. (WSPA)Three South Carolina high school students whose experiment was chosen for the International Space Station have gotten the results back. Tevin Glover, Parker Matthews, and Cedric McQueen are all sophomores at Keenan High in Columbia and had their experiment chosen after a contest.

The experiment used starch mixed with water to see if the microgravity of space would affect the transparency of the mixture, called its turbidity. They had a sample here on earth, called a ground truth, for comparison.

Cedric McQueen says, After we measured the turbidity, our ground truth and the experiment we sent up to space had the same turbidity, so it showed microgravity didnt really have any effect on the turbidity of the liquid, so basically that means the starch concentration, it wasnt affected.

The experiment has implications for the ability to grow plants in space or on other planets, something that will be crucial to mans ability to travel greater distances in space. Tevin Glover says, If all this light can pass through the substance on the ground and all the light can also pass through in microgravity, then that shows that we can have plant growth in space.

They plan to design other experiments to test other variables.

The fact that they had an experiment chosen for the space station has made them celebrities on campus, and their science and engineering teacher, Kareem Beckett, says hell use their example with other students. Theyre like the first ones to do it, and Im quite sure that were going to have other competitions for the students to actually be able to compete to do activities like this, he says.

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China to Start Building Its Own Orbital Space Station in Two Years – NextShark

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A week after the successful launch of its first cargo spacecraft, the Tianzhou-1, China announced its plans to build its own permanent base in space similar to the International Space Station.

According to Chinese officials, the planned base in orbit will take them a step closer to becoming a major space power. Construction of the ambitious project is set to commence in about two years.

Chinas Tianzhou-1 spacecraft completed the first of three planned docking attempts with the orbiting space lab Tiangong-2 two days after it was launched on April 20. Directed by the China National Space Administration, the five-day refueling was successfully completed on Thursday, reports Daily Mail.

This again announces the ambition and aspiration of the great rejuvenation of the Chinese people, and our resolute confidence in becoming a major space power, Wang Zhaoyao, the space station projects supervisor was quoted as saying.

After completing experimental stage spaceflight missions, we will enter the development and construction phase. According to our plans, we will carry out the assembly and construction of Chinas manned space station between 2019 and 2022.

The announcement also comes after news of the Chinese and European space agencies reported possible collaboration to construct a base on the moon. The proposed Moon Village was disclosed by the director-general of the European Space Agency ESA, Johann-Dietrich Woerner.The report was later confirmed by CNSA secretary general Tian Yulong and verified by ESA spokesperson, Pal Hvistendahl.

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NASA might run out of space suits before it quits the ISS – New Scientist

Posted: at 10:38 pm

By Chelsea Whyte

NASA is running out of space suits, and new ones are years away from being flight-ready. This was the finding of an audit released on 26 April by the NASA Office of Inspector General, relating to the agencys three next-generation spacesuit development projects.

Future missions might send humans deeper into space than ever before, so new suits need to be designed to handle the challenging conditions. Recent efforts, which have not been linked to a specific mission or destination, have cost almost $200 million since 2007 but have yet to produce a suitable option for deep-space missions.

The suits currently used during spacewalks from the International Space Station, called Extravehicular Mobility Units (EMU), were designed more than 40 years ago and were intended to last 15 years.

NASA currently uses 11 of the 18 original backpack-like life support systems, which were updated with glove heaters, improved lights and cameras, and an emergency propulsion module in the 1990s. The most recent loss of one of these suits happened during the 2015 explosion of the SpaceX Falcon 9 rocket, which was ferrying cargo to the ISS.

Yet US involvement on the space station is funded until 2024. NASA will be challenged to continue to support ISS needs with the current fleet of EMUs through 2024, a challenge that will escalate significantly if Station operations are extended to 2028, the report says.

Over the past decade, NASAs focus on developing new spacesuits has been split between three programmes. The Constellation Space Suit System was being designed for use on missions for the Constellation Program, which was canceled in 2010. Despite that, NASA continued to pay to develop spacesuit technologies for six years after the cancellation, ultimately spending $135 million.

The Advanced Space Suit Project was meant to develop suits with more mobility to sustain astronauts on a mission to Mars. The Orion Crew Survival System was a design for a spacesuit that could withstand fire, smoke or toxic chemicals if there was an emergency on the launch pad.

Any of these would need to be far enough along in the design process to be tested on the ISS before the end of the programme in 2024, and at current funding levels that may not be possible, according to the report.

Inspector General Paul Martin recommended that NASA end the Constellation spacesuit design contract and develop a plan for producing and testing next-generation spacesuits on the ISS before 2024.

William Gerstenmaier, head of Human Exploration and Operations for NASA, said in a response letter that the report is a fair assessment of the current state of extravehicular spacesuits and accepted the recommendations, although he said the report is overly critical of the Constellation Space Suit System and that the technology developed for it may be used to improve current suits.

Read more: NASA rushes spacesuit repair kit to space station

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