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ThreeD Capital Inc. $IDK.ca – #Crypto Markets Hit New 2019 Top as #Bitcoin Cranks Higher to $6.3k $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 10:21 AM on Friday, May 10th, 2019

SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.

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Crypto Markets Hit New 2019 Top as Bitcoin Cranks Higher to $6.3k

By: Martin Young

Market Wrap

  • End of the week has seen crypto markets hit another new high for 2019.
  • Bitcoin is pushing things higher as it eats away at the altcoins and itself posts new highs for the year.
  • Total market capitalization just passed $190 billion for the first time since November 2018.

The end of the week has seen crypto markets hit another new high for 2019. Bitcoin is pushing things higher as it eats away at the altcoins and itself posts new highs for the year. Total market capitalization just passed $190 billion for the first time since November 2018.

A new yearly high of just below $6,300 was made by Bitcoin a couple of hours ago. It has not dropped below $6k since breaching the psychological barrier in early trading yesterday and has pushed on a further 3 percent today. The big move has taken BTC volume up to $18 billion and market cap over $110 billion. Its dominance is now at a 17 month high of 58 percent, a level not seen since the big surge at the end of 2017.

The big move by BTC has pulled Ethereum up a little as it approaches $175. On the downside ETH market share has been eaten away to under ten percent as it remains sluggish.

The top ten is mostly red at the moment with only Litecoin making any positive momentum as it reaches $77 with 2.5 percent added on the day. Binance Coin is getting dumped dropping 8 percent back to $19 and XRP and Stellar continue to get eroded losing another couple of percent today.

There is greater pain in the top twenty as altcoins get assaulted by their big brother. Cosmos has been smashed 8 percent to fall below $4 and Tron and Maker have both lost over 4 percent over the past 24 hours. The rest are losing a couple of percent each as Bitcoin continues to consume them.

FOMO: Arcblock Still Pumping

Yesterday’s fomo driven pump has rolled into another day as ABT surges a further 40 percent lifting its position to 76th. South Koreans are all over this one as Bithumb dominates the trade volume in KRW. Social media tipping based altcoin ReddCoin is also flying at the moment with a gain of 18 percent on the back of Facebook’s rumored foray into crypto. Aurora is back again with another pump today of 15 percent which will dump tomorrow.

Speaking of dumps, WAX is in bad shape as it drops 9 percent as the top one hundred’s biggest loser. BNB and Cosmos are not far behind dumping 8 percent each.

Total market capitalization 24 hours. Coinmarketcap.com

Total crypto market capitalization has reached a new high for the year at $192 billion. The $4 billion, or two percent, gain on the day is largely due to Bitcoin which is a steamroller at the moment. Total daily volume is at its highest level for the week at $54 billion as markets slowly grind towards $200 billion.

Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

Source: https://www.newsbtc.com/2019/05/10/crypto-markets-hit-new-2019-top-as-bitcoin-cranks-higher/

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ThreeD Capital Inc. $IDK.ca – #Crypto Market Wrap: #Bitcoin Dominating as Markets Retest 2019 Highs $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 2:02 PM on Thursday, May 9th, 2019

SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.

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Crypto Market Wrap: Bitcoin Dominating as Markets Retest 2019 Highs

Martin Young

Crypto markets have been bolstered back up to their highest levels of the year again today. There was no selloff in the wake of the Binance hack and Bitcoin has finally broke resistance and made it over the psychological barrier of $6,000. Total market capitalization has been increased by $5 billion to just below $190 billion, its highest level since November 2018.

Bitcoin surged to a new 2019 high of $6,075 a few hours ago during early Asian trading. Getting above $6k is a huge achievement for BCT, especially considering recent news and FUD. Most analysts agree that there is huge resistance here and overcoming it will not be easy. Bitcoin traded in this range for over three months last year.

Ethereum has been flat and only managed a percent or so to creep back over $170. There has been little momentum for ETH since the CTFC nod which has largely been forgotten now.

The top ten is predominantly green at the moment but gains are marginal and Bitcoin is leading the pack. Bitcoin Cash has made almost 3 percent to top $290 while Litecoin and EOS have added 1.5 percent each, the rest have not moved much.

Top twenty gains are the greatest for Bitcoin SV which has surged almost 10 percent to $58. There does not appear to be a great deal driving momentum aside from the movements of its big brother. Monero, Tezos and Maker have all added 2-3 percent but Cosmos and IOTA have dumped 3-4 percent.

FOMO: Arcblock Enters Top 100

The big move of the moment is Arcblock which has surged into the top one hundred with a 20 percent pump on the day. The ABT blockchain ecosystem token has had a few project and wallet updates to boost momentum. DigixDAO is also on a roll today with 11 percent added taking DGD to $36. Horizen is also doing well alongside BSV with 9 percent gains.

Aurora is back dumping once again in its predictable pattern as AOA drops 14 percent. Following two days of pumps ABBC Coin is now dumping with 11 percent lost today. These are the only two double digit losers at the moment.

Total market capitalization 24 hours. Coinmarketcap.com

Total crypto market capitalization has surged by $5 billion on the day to $189 billion, equaling its 2019 high. Bitcoin has been responsible for most of this as it finally gets to $6,000 with dominance reaching an eight month high of 57 percent. Volume has dropped back to $46 billion so further consolidation at this level may be on the cards.

Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

Source: https://www.newsbtc.com/2019/05/09/crypto-market-wrap-bitcoin-dominating-as-markets-retest-2019-highs/

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ThreeD Capital Inc. $IDK.ca – #Blockchain Could Be Used By At Least 50% Of All Companies Within 3 Years, Oracle $ORCL Exec Says $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 12:00 PM on Tuesday, April 9th, 2019

SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.

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Blockchain Could Be Used By At Least 50% Of All Companies Within 3 Years, Oracle Exec Says

  • “My projection is that between 50%-60% of companies will use blockchain in the next few years,” said Frank Xiong, Oracle group vice president of blockchain product development at the Forbes CIO Summit in Half Moon Bay, California, Monday.

Monica Melton

Ten years after the idea of blockchain was conceived, the technology that underpins cryptocurrencies is starting to be used by large enterprises as a secure way to track goods. But mass utilization is still years away, and it won’t be for every company, said a panel of blockchain executives.

“My projection is that between 50%-60% of companies will use blockchain in the next few years,” said Frank Xiong, Oracle group vice president of blockchain product development at the Forbes CIO Summit in Half Moon Bay, California, Monday.

The enterprise software maker has more than 100 customers using its blockchain platform to track items for reasons such as ensuring the Italian olive oil you’re buying was really made in Italy, or that a manufacturer isn’t buying minerals that support armed conflicts. But it’s not a magic bullet. “We’re past the stage that blockchain can cure everything, so people are becoming more realistic about what’s good for their business model,” he said.

Blockchain is a kind of shared database that allows users to share identical copies of information on many computers. In the past few years, it’s gone from largely supporting virtual currencies like bitcoin to a tool used by companies to more closely and accurately track products or private information that pass through many hands.

Despite the buzz, uptake is still early. Large technology companies like IBM and shipping giant Maersk, and Oracle, have formed consortia around their blockchains, and many efforts are still in the pilot stage. Others, such as $3 billion logistics startup Flexport, say they’re waiting for global standards before they jump in.

In deciding whether to use blockchain, companies should do a pain point assessment, two executives said. Like any venture, they should figure out if it’s worth the cost.

“At the end of the day blockchain makes multipart collaboration more efficient, whether it’s having a consortium to track data on counterfeit getting into supply chains, or how much inventory you need to create a better forecast,” said Ted Kim, vice president in blockchain at Samsung SDS, a unit of the electronics manufacturer that provides IT services, including a pilot projects to track cargo from Korea to Europe using blockchain. He expects in three years, 20% of companies will be using blockchain. “There is tangible ROI in the blockchain.”

Yet even in a world where blockchain is much more widespread, some aspects may resemble today’s commerce system more than blockchain’s evangelists forecast.

“People are predicting that the blockchain will allow people to be decentralized, that everyone will have distributed trusted networks,” said Daniel Jones, CEO of bext360, a software startup that keeps track of commodities by identifying and making an electronic token. “I don’t think that’s possible —I think what we’re going to see is companies vertically integrating, the Amazons of the world are going to continue to vertically integrate to the farm level.”

From left: Laura Mandaro, Forbes Media, Jones, Bext360 Ted Kim, Samsung SDS America Frank Xiong, Oracle, CIO Summit 2019 Forbes Media

Source: https://www.forbes.com/sites/monicamelton/2019/04/09/blockchain-could-be-used-by-at-least-50-of-all-companies-within-3-years-oracle-exec-says/#4468f55355cf

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ThreeD Capital Inc. $IDK.ca – The Game Is On For #Bitcoin, #Ethereum, #Ripple And #Litecoin

Posted by AGORACOM-JC at 12:09 PM on Monday, April 8th, 2019

SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.

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The Game Is On For Bitcoin, Ethereum, Ripple And Litecoin

  • Over the last seven days, Bitcoin has gained 25.74%, Ethereum 18.76%, Ripple 16.12%, and Litecoin 53.20%
  • Rally was extended across the cryptocurrency markets, with 94 out of the top 100 cryptocurrencies gaining in price

Panos Mourdoukoutas

Investors, traders, and speculators are jumping into the Bitcoin and cryptocurrency markets again, sending prices soaring across the board.

Over the last seven days, Bitcoin has gained 25.74%, Ethereum 18.76%, Ripple 16.12%, and Litecoin 53.20%–see table 1. The rally was extended across the cryptocurrency markets, with 94 out of the top 100 cryptocurrencies gaining in price-see table 2.

Table 1

7d Price Change For Major Cryptocurrencies

Cryptocurrency%7d
Bitcoin25.74
Ethereum18.76
Ripple16.12
Litecoin53.20

Source: Coinmarketcap.com 4/7/19 at 11 a.m.

Table 2

Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks

Cryptocurrencies Advance/DeclineNumber
Advance6
Decline94

Source: Coinmarketcap.com 4/7/19 at 11 a.m

The recent Bitcoin rally has left left stocks, bonds, and the yellow metal in the dust, so far, in 2019-see chart.

Bitcoin Beats Stocks, Bonds, and Gold YTD

What could explain the rally?

Several factors. One of them is the renewed interest by big money. “The recent surge in Bitcoin has been sparked by a large buy order – rumored to be around $100 million – that sent BTC straight through technical resistance ($4,235) that had been in place since the start of December 2018,” says Nicholas Cawley from the DailyFX team.”  â€œThe lack of volatility in Bitcoin over the last few weeks has kept prices in-check, and low volume markets are always more susceptible to sharp moves than more liquid markets.”

Kirill Bensonoff, a technology advisor, agrees. “The surge was obviously fueled by a very large order, in the tens of millions of dollars,” says Bensonoff. “This is another sign that institutional players are coming into the market.”

Then there’s the prospect of lower interest rates, which turns risk on again for all sorts of speculative investments.

And there are the “market technicals.” Market volumes are up  3 to 4 times normal turnover, exacerbating the sharp rally,” observes Cawley. “In addition to the clean break of resistance, the move also broke through the 200-day moving average around $4,650 with ease, enabling the rally to continue.”

How far will the rally go? Will Bitcoin ever reach the $20,000 mark again? It all depends on whether regulators will approve financial instruments that allow for broad investor participation in the cryptocurrency markets, like Electronically Trading Funds (ETFs), according to Bensonoff. “For Bitcoin to hit $20,000 in 2019, we would need a major catalyst, and I believe the only one with this much force would be ETF approval,” says Bensonoff. “Without it, we are looking at a $10,000 best case scenario.”

While it’s unclear whether which of the two scenarios will come true, one thing is clear: volatility will continue in the cryptocurrency markets, creating new winners and losers.

[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don’t own any Bitcoin.]

Source: https://www.forbes.com/sites/panosmourdoukoutas/2019/04/07/the-game-is-on-for-bitcoin-ethereum-ripple-and-litecoin/#4481885519a6

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ThreeD Capital Inc. $IDK.ca – Societe Generale-Owned Bank Launches #Blockchain Exchange Note $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 9:45 AM on Monday, April 8th, 2019

SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.

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Societe Generale-Owned Bank Launches Blockchain Exchange Note

  • Kleinwort Hambros, a Societe Generale-owned private bank and wealth manager, has launched an actively managed exchange-traded note (ETN) targeting the blockchain sector.
  • The London-based bank announced the news on Monday, saying its Luxembourg-listed ETN will invest in companies that could “profit most” from the development and increasing uptake of blockchain technology.
  • ETNs are unsecured debt securities that, like exchange-traded funds (ETFs), are traded on a stock exchange.

Yogita Khatri

The blockchain note will initially have 20 stocks diversified across areas including technology, shipping, oil and gas, custody and industrials.

Kleinwort Hambros’ portfolio manager John Birdwood said:

“We have seen increasing interest from clients in the area of blockchain and we are very excited to be able to cater to this demand with the launch of our first blockchain note.”

The product will provide its clients with the “diversified exposure to the promising growth prospects blockchain technology offers, while maintaining the rigorous active management,” Birdwood added.

It’s worth noting that the ETN will be only available for Kleinwort Hambros’s existing and new clients, with a minimum investment of £1,000 ($1,305).

The centuries-old bank has assets under management of £14.2 billion ($18.52 billion) and over 900 employees as of last year, according to its own figures.

In similar news, investment management company Invesco and Elwood Asset Management jointly launched a blockchain exchange-traded fund (ETF) on the London Stock Exchange last month.

The crypto community’s ongoing wait for a bitcoin ETF, however, is still awaiting a decision from the Securities and Exchange Commission in the U.S. However, several exchange-traded products (ETPs) for bitcoin and other cryptos have gone live for trading in Europe.

Societe Generale image via Shutterstock

Source: https://www.coindesk.com/societe-generale-owned-bank-launches-blockchain-etn

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ThreeD Capital Inc. $IDK.ca – #Davos Report: Over 40 central banks worldwide are experimenting with #blockchain technology $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 9:00 PM on Sunday, April 7th, 2019

SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.

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Davos Report: Over 40 central banks worldwide are experimenting with blockchain technology

  • Several central banks are looking into experimenting with cryptocurrencies
  • The degree of blockchain technology research and experimentation varies greatly among central banks, as do the motivations for interest.
  • The central banks use permissioned blockchain network to create their CBDCs

Rajarshi Mitra FXStreet

As per a new report by the World Economic Forum, over 40 central banks around the world are experimenting with blockchain technology. Ashley Lannquist, a project lead in blockchain and distributed ledger technology at the World Economic Forum and the primary author of the report, believes that “It’s very much the case that several central banks are looking at this [experimenting with cryptocurrencies].”

The report states that the degree of this experimentation varies greatly among banks:

“The degree of blockchain technology research and experimentation varies greatly among central banks, as do the motivations for interest. Some central banks are progressive, having begun research and experimentation as early as 2014 and having conducted multiple pilots or even deployments. Another set of institutions is curious and interested in the technology but largely monitors activity by peer institutions and within the private sector, including cryptocurrency investing activity. A final set has not yet dedicated resources to blockchain technology research and may never do so, either because of pressing priorities or the view that DLT at this stage does not promise sufficient upside when considering technological immaturity and risks.”

The report states how these central banks implement their CBDC pilots:

“In many of these CBDC pilots, the central bank issues digital tokens on a distributed ledger that represent, and are redeemable for, central bank reserves in the domestic currency held in a separate account with the central bank. The agents in the system use the CBDC to make interbank transfers that are validated and settled on the distributed ledger.”

The central banks prefer permissioned blockchain networks to create their CBDCs:

“The central banks typically use “permissioned” blockchain network implementations, whereby participants are limited and must be granted access to participate in the network and view the set of transactions. 

The central bank chooses, according to suitability and availability, the type of network and its internal mechanisms (most importantly, the decentralized consensus mechanism the network uses for participants to reach agreement on valid transactions). R3’s Corda, the Linux Foundation’s Hyperledger Fabric, J.P. Morgan’s Quorum, or a simple private configuration of the Ethereum blockchain network are the most popular implementations used by central banks.”

Source: https://www.fxstreet.com/cryptocurrencies/news/davos-report-over-40-central-banks-worldwide-are-experimenting-with-blockchain-technology-201904050249

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ThreeD Capital Inc. $IDK.ca – #Blockchain Spending in 2019 to Grow to $2.9 Billion, 88.7% Growth Since 2018 $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 10:00 AM on Friday, March 29th, 2019

SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.

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Blockchain Spending in 2019 to Grow to $2.9 Billion, 88.7% Growth Since 2018

  • The amount spent on blockchain technology by businesses seeking to utilise the trust-enhancing features of distributed ledgers is expected to grow to $2.9 million in 2019
  • This would represent a growth of 88.7% over the $1.5 billion spent on the technology during 2018

By: Rick D.

The amount spent on blockchain technology by businesses seeking to utilise the trust-enhancing features of distributed ledgers is expected to grow to $2.9 million in 2019. This would represent a growth of 88.7% over the $1.5 billion spent on the technology during 2018.

The reported figures come from the International Data Corporation (IDC) who recently updated its “Worldwide Semiannual Blockchain Spending Guide.” According to a representative for the IDC, the tech has moved out of the design phase and into actual use and this shift will drive a lot of the expected spending through the next ten months.

New Industries Finding New Ways to Use Blockchain

The IDC report states that the financial sector will continue to account for the lion’s share of the spending on blockchain technology during 2019. The estimated figure here is $1.1 billion. This will come from a variety of interests, including: banking, securities and investment services, and insurers.

Another notable sector expected to be a part of the group of biggest blockchain spenders is that of manufacturing and resources. These industries will reportedly account for $653 million combined. They are also expected to see the largest growth in spending over the entire five year period with a CAGR of 77.6%.

Coming close behind manufacturing and resources is the distribution and services industries. Firms doing business in these industries  are expected to spend $642 billion on exploring and implementing blockchain technology during 2019.

Blockchain technology is being explored by a range of industries.

According to IDC vice president of the Customer Insights and Analysis programme, Jessica Goepfert, the technology is still very much in its infancy and businesses are still at the phase of explosive innovation when it comes to its implications:

“The use cases that comprise the blockchain opportunity are developing as swiftly as the technologies enabling it. While spending for more developed use cases in the financial sector like trade finance and cross-border payments is still healthy and growing strong, relative to six months ago we’ve seen an acceleration in spending across a variety of other areas, such as energy settlements and warranty claims.”

As part of the report, documenting the five year period between 2018 and 2022, the IDC states that it expects the total spent on blockchain to reach $12.4 billion by the final year of the sample.

A director of research at Worldwide Blockchain Strategies, James Webster, commented on the projected growth in spending on blockchain:

“Blockchain is maturing rapidly, and we have reached an inflection point where implementations are moving quickly beyond the pilot and proof of concept phase.”

According to Webster, the figures gathered by the IDC reports will give crucial insight into over the technology is being adopted by different industries and where it is having the largest impact.

Source: https://www.newsbtc.com/2019/03/04/blockchain-spending-2019-grow/

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Webinar: An introduction to #KABN – A NEO Financial Services Platform That Starts With Biometric Enabled #Blockchain Validated Identity $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 11:36 AM on Thursday, March 28th, 2019

Michael Konikoff and Ben Kessler walk through the benefits and features of KABN, A NEO Financial Services Platform that starts with Biometric enabled Blockchain Validated Identity, empowering digital currency holders and KABN cardholders alike to spend wherever Visa is accepted

Hub On AGORACOM

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ThreeD Capital Inc. $IDK.ca – Why Mark Zuckerberg and Jack Dorsey Are Warming to Blockchain $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 9:19 AM on Thursday, March 28th, 2019

SPONSOR: ThreeD Capital Inc. (IDK:CSE) Led by legendary financier, Sheldon Inwentash, ThreeD is a Canadian-based venture capital firm that only invests in best of breed small-cap companies which are both defensible and mass scalable. More than just lip service, Inwentash has financed many of Canada’s biggest small-cap exits. Click Here For More Information.

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Why Mark Zuckerberg and Jack Dorsey Are Warming to Blockchain

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative.

The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers.

“Left to their own devices, computer scientists would recreate the Soviet Union.”

That line belongs to Preston McAfee, an economist whose job history includes senior positions at tech giants such as Microsoft, Google and Yahoo. As he explained to an audience at the SXSW conference in Austin, Texas, recently, it refers to software engineers’ tendency to favor centralization as the most efficient design principle for any computing system.

The point, he said, is that decentralized networks, such as those based on blockchain models, can often enable more positive overall social outcomes despite the relative inefficiency of their command-and-control architecture. It’s useful to contemplate this idea, and McAfee’s colorful metaphor, in relation to the current state of play on the Internet.

For the first time since they emerged as the victors of the post-dot-com bubble shakeout at the turn of the century, the platforms that dominate our online lives are running up against the social limits of their centralized models.

A backlash is emerging against “surveillance capitalism” and against the broad strategy of mining users’ data to capture audience for advertisers and to shape consumer behavior. Manifest as both political pressure and user rebellion, it is forcing a design rethink at these companies.

Perhaps the Internet is facing its Berlin Wall moment.

This is ultimately why some of the principles underlying blockchains and cryptocurrency technologies are finding favor in the business development strategies – or at least in the PR signaling – of social media companies.

Warming to Decentralized Models

Facebook especially has attracted much attention in this area.

CEO Mark Zuckerberg recently made a bombshell post outlining a “privacy-focused vision for social networking” that suggested a move to embrace end-to-end encryption of users’ data on Facebook, Instagram and WhatsApp.

In a separate post of a video interview with Harvard Law professor Jonathan Zittrain, Zuckerberg speculated on the prospect of Facebook using a blockchain model to enable decentralized logins without its servers acting as authenticators. All this came around the time The New York Times reported that Facebook is developing a digital currency that its users can trade among each other and exchange on cryptocurrency exchanges.

Meanwhile, Twitter CEO Jack Dorsey appears to have gotten religion when it comes to cryptocurrencies. He has declared that bitcoin will be the “native currency of the Internet,” has invested in Lightning Labs, which is developing payment channels for bitcoin based on the lightning network, and recently announced that Square, the separate payments company that he heads, will hire crypto engineers and likely pay them in bitcoin.

It’s fair to say there is a significant degree of skepticism that social media companies, having made fortunes out of a centralized model that accumulates user data, will change their stripes.

Facebook, in particular, has come under criticism from pundits who argue that it won’t be able to shift its business model. Given data abuse scandals such as the Cambridge Analytica affair, skeptics such as cryptocurrency pioneer David Chaum argue that Zuckerberg’s decentralization and privacy mantra is nothing more than a PR message.

But the departure of certain senior executives, including those who oversaw the development of the centralized data-gathering model and the algorithms that mine that data to deliver audiences to advertisers, has led others to conclude that Zuckerberg is indeed serious.

Winds of Change

One thing’s clear: there’s pressure for change, whether it comes in substance or merely in message.

Much like citizens who reach a breaking point and rebel against political leaders who act in their own interests rather than those of the public, users of these social media platforms are starting to signal that they won’t stand for data abuses.

Obviously, without users, these businesses fail. So, these companies are now contemplating a revised model in which, to paraphrase Bruce Schneier, users are no longer the product but the customer.

It’s an open question whether such companies can make money on a model in which the nodes in the network are free from control by the center. But let’s continue with the McAfee-inspired metaphor and contemplate how governments in capitalist economies accrue power and influence when their citizens are empowered to transact with each other. Similarly, we can imagine how a Facebook or a Twitter that helps its vast number of users conduct peer-to-peer exchanges can extract great value from the expansion of such networks.

Either way, the winds of change are coming to the centralized systems of the Internet. Whether the incumbents survive those changes, or whether they go the way of, say, MySpace is not clear. More important, let’s consider what might arise in their place and how smoothly we transition to the new era.

These are questions for developers of decentralized solutions such as those enabled by blockchain technology. What kind of governance models will be in place so that users are truly able to maintain a healthy degree of autonomy even as new centralizing forces emerge to extract value within the new paradigm?

Remember, the Soviet Union collapsed, but it was hardly replaced by a utopia.

Image via CoinDesk archives 

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Source: https://www.coindesk.com/why-mark-zuckerberg-and-jack-dorsey-are-warming-to-blockchain

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ThreeD Capital Inc. $IDK.ca – #Blockchain Adoption Keeps Booming: China’s Alibaba $BABA Serious Partnership To Promote Blockchain Development $HIVE.ca $BLOC.ca $CODE.ca

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Blockchain Adoption Keeps Booming: China’s Alibaba Serious Partnership To Promote Blockchain Development

  • Chinese internet conglomerate Alibaba has signed a strategic with software development company Aerospace Information Co. to collaborate and leverage their expertise in cloud computing, smart industries, blockchain and more.

By Abhimanyu Krishnan

The 2 parties will be cooperating in several different ways.

China’s Securities Daily publication notes how the two will work on such things as taxes and finances for Small and Medium Enterprises (SMEs), and government integration for innovative solutions for authorities:

In the field of fiscal and taxation, the two sides will expand the application scenarios and explore and develop innovative products for SMEs. In the field of government affairs, we explore the integration and innovation of government solutions around the “Internet + government services”. In the field of blockchain, we will jointly provide cloud solutions to promote the development of the blockchain industry. In the field of enterprise market services, we will coordinate the implementation of credit reporting services and smart mobile office services.

It’s clear that both companies are focused on the long-term development of blockchain and its applications in a a variety of industries.

Alibaba previously announced its intentions to use its cloud services for blockchain technology. 

The internet giant has an Alibaba Cloud Blockchain-as-a-Service (BaaS) service which lets businesses build their own blockchain-based platforms and manage deployment, maintenance and operation conveniently. The service is based on Hyperledger Fabric.

The company has also made several other moves to promote blockchain technology, financing a variety show in which the use cases of blockchain technology were showcased.

China is very keen on digitizing its economy and building the smart cities of the future. The VeChain project has been associated with the Chinese nation to help in achieving this goal. Waltonchain has also partnered with Chinese entities with the intention of using blockchain technology to develop cleaner cities.

The world’s most populous nation is certainly attempting to grow blockchain development, although it is also cracking down on ICOs and STOs.

Source: https://www.investinblockchain.com/china-alibaba-serious-partnership-promote-blockchain-development/

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