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ThreeD Capital Inc. $IDK.ca – Major Improvements Are Coming To #Blockchain In 2020 #Bitcoin $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 12:00 PM on Tuesday, July 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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Major Improvements Are Coming To Blockchain In 2020

  • Everyone in the enterprise world already has a blockchain strategy.
  • If they don’t have one now, they risk the chance of staying behind or simply missing an opportunity.

Biser Dimitrov Contributor

Everyone in the enterprise world already has a blockchain strategy. If they don’t have one now, they risk the chance of staying behind or simply missing an opportunity. For the last few years, the benefits and correlated risks of fully adopting blockchain technology have been estimated, analyzed, and discussed at large. One thing is clear – despite the potential for a big upside, embracing a newly developed technology presents numerous risks that shouldn’t be underestimated. Blindly introducing new technology stack into an already working production environment means exposing that environment to potentially dangerous security breaches, hacks and data loss.

So, where we are now? Most blockchain protocols claim some level or maturity … but are they, in fact, sufficiently mature? Are they ready for full on-premise deployment in large-scale enterprises? Will CIOs and other business executives enjoy the same comfort as that of the tooling they already have? Let’s review what it takes to move a blockchain protocol from open source to enterprise.

It’s no surprise that the largest cloud providers are also the largest drivers of the Blockchain as a Service (BaaS) model. Let’s call them Tier 1 BaaS providers. They have already established themselves as market leaders with large customer bases. Offering various cloud services and expanding to blockchain seemed to be a logical and evolutional step. 

Microsoft Azure 

Microsoft is one of the largest players in the BaaS space. So far, it has focused primarily on Ethereum but also offers services for running R3’s Corda and Hyperledger Fabric networks. It has dedicated many resources to building the Azure Blockchain Workbench and Azure Blockchain Service. Microsoft’s team is also a key founder and an active participant in the Ethereum Enterprise Alliance (EEA) and Token Taxonomy Initiative (TTI). In addition, it has recently joined the Hyperledger family, for which it will contribute to the code and promise be an active member. 

Amazon Web Services (AWS) 

AWS and Microsoft Azure have almost equally split control of the managed blockchain space, though your niche will determine which of these services you use. If you are into financial services, you would probably use Azure, but if you are into healthcare, insurance, or other verticals, your choice is probably AWS. Recently, AWS has made publicly available its Managed Blockchain offering. It supports only Hyperledger Fabric for now but there are plans to integrate Ethereum too. AWS has also invested in the development of Amazon Quantum Ledger Database (QLDB), which is an append-only database with a cryptographically verifiable transaction log. 

IBM Cloud 

IBM is one of the primary maintainers of Hyperledger Fabric’s source code and, thus, is heavily involved in providing cloud services and product updates for it. Lately, IBM has opened its IBM Blockchain 2.0 to be multi-cloud, which means you can run your Fabric network across various cloud providers. 

Oracle Blockchain 

The Oracle blockchain platform has based its solution only on Hyperledger Fabric, which is not ideal but offers some neat services like enhance node provisioning, blockchain explorer and improved security. 

VMWare 

VMWare clearly saw the issues that affect the current blockchain infrastructure. It is working to resolve these issues with Concord, a highly scalable and energy-efficient distributed trust infrastructure for consensus and smart contract execution. 

VMWare Blockchain VMWare

Apart from the major cloud providers, in 2018 we saw the birth of Blockchain as a Service companies that base their products on top of existing cloud computing platforms; let’s call them Tier 2 BaaS. They are usually smaller, more agile startups that can push new offerings almost every month. This makes them very good choices for a faster go-to-market strategy. Their solutions are wide and colorful, and they usually cover different blockchain protocols. They remain unable to address most enterprise needs yet, but they will stay on the right track and be an attractive option as long as the establishment doesn’t disrupt them. The names that stand out in this category are Kaleido and Blockdaemon.

What are the enterprise needs from a blockchain perspective? Where do we want to see improvements so that we can fully use the benefits of decentralized ledger technology? Let’s separate the main requirements into four categories: platform; interfaces; infrastructure and network; and security and analytics.

Platform

  • Operational resilience – ability to maintain uptime and connectivity even when some components fail, including several layers of protection and failover strategy against data loss and corruption.
  • Pluggable consensus – ability to switch the consensus mechanism depending on the requirements without rebuilding the whole network.
  • Broader off-chain data storage capabilities – support for encrypted data storage.
  • Adaptors to allow for SQL-based ledger queries, which will make the broader developer community more comfortable working with blockchain.

Interfaces

  • Enterprise integrations – pre-built modules and onramps for existing enterprise systems.
  • Robust Oracles – ability to get real-time external data into smart contracts.Watch out for Chainlink.
  • Integration with GraphQL, a Facebook-developed language that provides a powerful API to get only the dataset you need in a single request, seamlessly combining data sources.
  • Identity federation – ability to authenticate with existing identity providers, which will facilitate faster adoption on the consortium level.
  • Built-in privacy and permissioning features – for transactions, accounts, wallets, smart contracts and network participants.

Infrastructure and Network

  • Ability to maintain peak performance at the network level – managing and operating hundreds of thousands of nodes while maintaining low latency and facilitating hundreds of thousands of transactions with guaranteed finality.
  • Ability to scale and reduce network size on demand – auto-scale a network by adding/removing more validators or orderers.
  • DevOps tools to make integration with existing IT systems easier and to make CI/CD build processes faster and seamless.
  • Support for cross-network interoperability and cross-blockchain atomic swaps.
  • Governance framework with an established and pre-determined transparent structure, rules of participation, a funding model, and financial incentives.

Enhanced Security and Analytics

  • Detailed privacy controls over data, smart contract execution, and transaction visibility.
  • Improved network monitoring with enhanced contextual meaning of the transactions, ability to troubleshoot on-chain events.
  • SLA monitoring with backward compatibility of upgrades.
  • Warehousing transaction history data, combining them with other off-chain data sources and making them available for BI reporting tools and other interactive dashboards.

As discussed, the blockchain technology stack has a long way to go before it will be mature enough for mainstream enterprise adoption. This is a completely normal process, as software developers and business leaders transition their mindsets from the currently siloed and centralized infrastructure to the distributed ledger networks. Luckily, we are at the forefront of this technological revolution and have the chance to contribute to what, one day, will be the norm.

Source: https://www.forbes.com/sites/biserdimitrov/2019/07/08/major-improvements-are-coming-to-blockchain-in-2020/#73633acc55b6

ThreeD Capital Inc. $IDK.ca – New #ECB Boss is “Extremely” Pro- #Crypto; What Could This Mean for #Bitcoin $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 10:07 AM on Monday, July 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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New ECB Boss is “Extremely” Pro-Crypto; What Could This Mean for Bitcoin?

  • Christine Lagarde, who is replacing Mario Draghi as the next head of the ECB on November 1st of this year, has long shown interest in Bitcoin and cryptocurrencies, and has even advocated for state-backed digital currencies that could increase the efficiency of those state’s economies.

By: Cole Petersen

Investors and proponents of Bitcoin and the aggregated crypto markets have long believed that the ultimate pinnacle of adoption would be found when governments and central banks began growing friendly towards the nascent technologies.

Now, the nominee who is replacing the outgoing European Central Bank (ECB) head is pro-crypto herself and has shown tremendous interest in how the nascent tech can help shape the future’s global economy.

ECB Boss is Pro-Crypto, Will This Help Spark Adoption?

Christine Lagarde, who is replacing Mario Draghi as the next head of the ECB on November 1st of this year, has long shown interest in Bitcoin and cryptocurrencies, and has even advocated for state-backed digital currencies that could increase the efficiency of those state’s economies.

This past April, Lagarde spoke to CNBC and bullishly noted that crypto and blockchain is currently “shaking the system.”

“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system,” she noted, tempering this sentiment by adding that “We don’t want to shake the system so much that we would lose the stability that is needed.”

Although there is no way to deny that Bitcoin and crypto are shaking up the current system – or at the very least have the potential to do so – many critics will write off their utility, so Lagarde’s openness to the technology is a powerful endorsement.

Will Lagarde Embrace Bitcoin, Or Focus on More Centralized Options?

Although the incoming ECB boss is certainly more open to crypto than previous ones, it is important to note that her interest seems to be more in centralized crypto options than in decentralized ones, like Bitcoin.

Mati Greenspan, the senior market analyst at eToro, explained in an email that her interest currently seems to be in JPM Coin and XRP.

“Not bitcoin, of course, but she has advocated already for state-backed cryptocurrencies as well as settlement tokens like XRP and JPM coin. In this video, we can see her taking notes while listening to Ripple’s CEO Brad Garlinghouse,” Greenspan explained.

Furthermore, Greenspan also explained that crypto certainly won’t be her main focus as the head of the ECB, as her biggest challenge will be to “bring unity and prosperity to the various EU States and QE will probably take precedence over the digital landscape.”

Regardless of whether or not crypto, Bitcoin, or blockchain are one of her main focuses, her interest and openness to the technology is certainly positive for the industry as a whole and may help incubate further adoption.

Source: https://www.newsbtc.com/2019/07/07/new-european-central-bank-boss-is-extremely-pro-crypto-what-could-this-mean-for-bitcoin/

ThreeD Capital Inc. $IDK.ca – 4 #crypto trends for the next 5 years $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 10:04 AM on Thursday, July 4th, 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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4 crypto trends for the next 5 years

Not long ago, only a handful of accountants dealt in cryptocurrency. Now, just a few years later, every major financial news outlet dedicates a portion of its coverage to crypto. Times have changed quickly, so what will the crypto accounting industry look like in five years and beyond?

Consider the following four trends in crypto accounting and how they will affect CPAs.

1. Increased automation

  As cryptocurrencies further infiltrate the public consciousness, traditional accounting services will automate more of their work to keep up with the increased workload. Spreadsheets work well enough for fiat transactions, but in the volatile crypto environment, static tools can’t effectively serve anyone with a serious investment in alternative currencies.

Average consumers today can do their taxes online through services like TurboTax and H&R Block. Businesses and complex individual situations require personalized care, but standard programs can handle the load for most people. Tax programs don’t need to offer advanced functionality just yet — a few equations on the back end do a fine job.

But cryptocurrencies make things more complicated. Accountants need automated tools to track increased crypto complexity, like cost basis. Without smarter software, experts in the financial services industry won’t be able to keep up with higher sophistication at scale. Tax software providers will eventually offer new and highly automated services for crypto investors, and consumers will pay for those services using their crypto investments.

AI accountants

Accounting experts will use smarter tools to help their corporate clients and major investors make better decisions. But the public won’t need real accountants for their simple crypto investments; they’ll simply turn to artificial intelligence tools that minimize human interaction in most accounting scenarios.

The future will see consumers interact with intelligent AI, machine learning, and bots capable of natural language processing. Challenging concepts like crypto cost basis, which can confuse even the sharpest accountants, pose little threat to intelligent software. Accountants will still have a place in the world, but their duties will evolve drastically as crypto demands bring widespread change in the financial industry.

Not everyone will feel comfortable doing taxes through AI. Accountants will need to lean on automated tools of their own to keep pace, but enterprise clients, heavy investors, and people suspicious of advanced tech will continue to prefer the human touch. With more money going toward nicer tools and less money going toward human intermediaries, accountants must specialize and adapt to stay relevant.

3. Knowledge enrichment

  Schools and universities will soon offer programs and specialty courses to educate future accountants, bookkeepers, and CPAs on the intricacies of crypto. Few schools today offer such services, but the more prominent cryptocurrencies become, the greater the need will be for new accountants to understand the rules of digital currency.

Some businesses already offer services to certify accountants as crypto tax experts, but schools will remain the top trainers in the accounting world. By educating students before they begin their careers, universities can prepare graduates to operate effectively in an industry with broad new responsibilities and expectations. Businesses and crypto organizations will need new accountants who understand their evolving needs.

For accountants already out of school, options for continuing education will evolve from useful to essential. More crypto trading means more crypto investors and crypto companies. Those entities need experts who understand the cryptocurrency landscape. If experienced accountants fail to adapt, fresh faces will gladly take the business.

4. Updated regulatory standards

Where crypto regulation used to be nonexistent, legislators have actually made some limited progress. The SEC now has more oversight to shut down illicit initial coin offerings (ICOs), and the IRS clarified that cryptocurrencies are property, not currency — at least for now.

But the more that crypto changes, the more regulations will change with it. Every business that deals with cryptocurrency will encounter newer, more robust laws in the years to come. Soon every company and project that deals with crypto will need an accountant (or accounting service) with crypto experience to help navigate the unknown.

As new laws get passed, businesses will invest more heavily in smarter crypto accounting solutions. Artificial intelligence and machine learning will do the heavy lifting while human accountants interpret that data to help executives make smarter business decisions. More technology startups will emerge to cater to this growing audience. Before long, crypto accounting will become an industry unto itself.

These changes may seem like far-off concerns for another year, but crypto accounting — like cryptocurrencies themselves — moves quickly. Expectations and the tools to meet them become more complex and sophisticated each day. Accountants must stay vigilant to keep up with the times, or they risk losing ground to a new generation of crypto-savvy competitors.  

Source: https://www.accountingtoday.com/list/4-cryptocurrency-trends-for-the-next-5-years

ThreeD Capital Inc. $IDK.ca – After Experimenting With #Bitcoin and #Ethereum, #DocuSign Is Accelerating its Blockchain Ambitions $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 9:53 AM on Wednesday, July 3rd, 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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After Experimenting With Bitcoin and Ethereum, DocuSign Is Accelerating its Blockchain Ambitions

Business team two executive shaking hands after a meeting and conference to sign agreement and become partner in the office, results of their successful teamwork, contract between their firms.

  • Since its founding in 2003, firms of all sizes and industries have relied on the company to streamline the contract process through its best-in class security, identity authentication, user interface, and integration with leading business suites.
  • Today DocuSign has 500 thousand paying customers, and it earned over $700 million in revenue last year.
  • Company also joined the Accord Project, an open-source software initiative that was established to develop a technology stack for smart agreements.

By: Steven Ehrlich

Famed cryptographer Nick Szabo may have coined the term “smart contract” back in 1994, but DocuSign can make a compelling case for being its true inventor. Since its founding in 2003, firms of all sizes and industries have relied on the company to streamline the contract process through its best-in class security, identity authentication, user interface, and integration with leading business suites. Today DocuSign has 500 thousand paying customers, and it earned over $700 million in revenue last year.

However, the company is not resting on its laurels and instead is seeking ways to improve its service offerings, with much of this experimentation incorporating blockchain technology. Over the last few years this testing has included trials, demos, and partnerships on both Bitcoin and Ethereum. The company also joined the Accord Project, an open-source software initiative that was established to develop a technology stack for smart agreements. Furthermore, last week the company invested in a $5.5 million Series A round for smart contract provider Clause alongside Galaxy Digital with the goal of making contracts on their DocuSign Agreement Cloud “self-executing” and “self-aware” in an ongoing fashion, rather than just one moment in time.

Given the core facets of DocuSign’s business and its research into blockchain technology and smart contracts, the San Francisco-based company is in an unrivaled position to assess their utility and applicability to the needs of today’s businesses. Still, the road to blockchain adoption has not been a straight line, and the company’s plans face many of the same hurdles that other potential adopters are trying to clear. To better understand DocuSign’s future direction, I had an opportunity to speak with Ron Hirson, DocuSign Chief Product Officer, who shed additional light on these endeavors, provided context for the company’s investment in Clause, and offered expectations for how blockchain will impact the company moving forward.

DocuSign’s Blockchain Strategy Began in 2015

When individuals think of major enterprise users of blockchain, the first companies that come to mind often include blue-bloods such as Facebook, IBM, and JP Morgan. However, DocuSign has been experimenting with the technology since 2015, when it built a “smart-contract meets smart-asset meets smart-payment” demo with Visa on top of the Bitcoin blockchain. According to Ron, the collaboration aimed to determine whether they could utilize Bitcoin so that a user could “buy a car while sitting in the car”, and have it start provided that the buyer’s insurance was up to date.

Then in 2018, the company joined the Enterprise Ethereum Alliance (EEA), a 250+ member global organization that builds open standards aimed at promoting the adoption of Ethereum-based blockchain applications. As part of this partnership, DocuSign created a pilot where clients could store a hash, or a cryptographic fingerprint, of a completed agreement on the public Ethereum blockchain as an independent system of record for interested parties.

Initial Forays Offered a Glimpse of Blockchain’s Potential, but Also Challenges

However, as exciting as these experiments were, neither went mainstream for reasons that will ring familiar to active followers of the enterprise blockchain space. According to Ron, the POC with Visa was primarily an opportunity to learn, and the Bitcoin blockchain was chosen because it was by far the most prominent platform in 2015 (remember Ethereum did not officially launch until July 30, 2015), even if it was not tailor-made for this use case. Even then Bitcoin’s limitations in functionality, data storage, and throughput were well known to industry observers.

It is perhaps for these reasons that the company joined the EEA in 2018 and built its second project on top of Ethereum. However, despite more functionality, the pilot did not gain widespread adoption because customers already felt comfortable with DocuSign serving as a store of record. Ron made it very clear in his conversations to me that most customers did not see a need for an independent audit trail. He also noted that education was not a problem, as he and the company “pitched this broadly, stood on stage, screamed from the mountaintops, about that we have this capability, and the uptake from customers who are interested in it is fairly low because they don’t see the need.”

Speaking more broadly about DocuSign’s global customer base and blockchain’s shortcomings to this point, Ron underscored the massive challenge facing technologists and blockchain enthusiasts. He provided a hypothetical about a client trying to meet its sales goal before the end of a quarter. Putting himself in the customer’s shoes he said “I can’t rely on an open source system that may or may be available, may or may not have the latency that I need, and oh my gosh it is way too expensive to store all these files. Plus, there is no compelling UI for me to engage in these kinds of systems.”

Undaunted and Moving Ahead With a Clearer Vision

In spite of this feedback, Ron and the rest of the company believe in the potential that blockchain technology has for its product lines, and it is continuing to drive forward. However, from these initial experiments, it became clear to the team at DocuSign that for blockchain technology to transform their business and deliver client value, the benefits from the technology must move far beyond “nice to have”. In a sense, the company would need to find a value proposition that was unavailable before the invention of blockchain technology.

Rationale for the Clause Investment

It is for this reason that as reported last week it invested in smart-contract technology provider Clause. The startup has built a promising business by leveraging its platform to enable users to add smart clauses to documents that automate business processes, workflows, and digital transactions. What this means in layman’s terms is that contacts that utilize Clause’s technology can run in the background until a specified date, time, or event and execute when a certain condition is met. In my conversations with Ron, he highlighted a demo that the company unveiled at its annual Momentum 2019 conference last month, whereby this new platform could be utilized to authenticate new drivers for a ride-sharing platform on an ongoing and persistent basis.

This speaks to the true potential of this collaboration. DocuSign is in many ways the epicenter of complex business processes that take place behind the scenes when a contract is signed. By incorporating these “smart clauses” into future contracts a lot of this work can become automated, removing middlemen such as title or escrow agents, offering a more streamlined and efficient process for all involve parties to an agreement all the way through to payment.

An Auspicious Start, but Many Challenges Ahead

It is clear that DocuSign is setting its sights much higher this time. However, much still needs to be developed regarding this partnership, including which platforms it will run on, the first use cases, and an initial set of customers. Within this context it is important to note that Clause’s code can run on top of any blockchain or non-blockchain platform. Additionally, the collaborators will still need to find solutions for the scalability, accessibility, and security problems noted above, not to mention solving these challenges with the elegant user interfaces that its customers have come to expect. Being able to work on top of multiple blockchains should help.

Additionally, the partners will need to find and utilize oracles that never go down and cannot be hacked or manipulated. For readers unfamiliar with the term, oracles are data feeds that smart contracts rely on to determine when a condition is met that would cause the contract to self-execute. Today, there is no foolproof way to prove the fidelity of an oracle, and it is a long-standing problem that blockchains cannot differentiate between good and bad data being fed into the system. For a partnership like this to truly succeed they will need to find a solution, which is something that the partners dutifully acknowledge.

Solving these challenges will require heavy lifting, and in recognition of the size of this undertaking DocuSign has a product manager and entire engineering team focused on the technology. Therefore, it seems unlikely that lack of resources will be an issue, boding well for the future. After all, the prize is big enough to justify the cost, because if the collaborators succeed, this partnership has the potential to impact every industry under the sun.

Source: https://www.forbes.com/sites/stevenehrlich/2019/07/01/after-experimenting-with-bitcoin-and-ethereum-docusign-is-accelerating-its-blockchain-ambitions/#6395c3a55a32

ThreeD Capital Inc. $IDK.ca – The radical idea hiding inside #Facebook $FB digital currency #Libra proposal $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 10:27 AM on Wednesday, June 26th, 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 radical idea hiding inside Facebook’s digital currency proposal

  • A major goal of the Libra Association, the nonprofit Facebook has created to manage the project’s development, is to use Libra to revolutionize the concept of digital identity.
  • Relevant passage lives near the bottom of a document meant to explain the role of the Libra Association:
  • “An additional goal of the association is to develop and promote an open identity standard.

by Mike Orcutt

Last week, after months of hype and speculation, Facebook finally revealed its plan to launch a blockchain system, called Libra. Since the launch, most of the attention has focused on Libra coin, the cryptocurrency that will run on the new blockchain.

But tucked away in one of the documents Facebook published is something that may turn out to be just as important as the coin—if not more so. A major goal of the Libra Association, the nonprofit Facebook has created to manage the project’s development, is to use Libra to revolutionize the concept of digital identity.

The relevant passage lives near the bottom of a document meant to explain the role of the Libra Association: “An additional goal of the association is to develop and promote an open identity standard. We believe that decentralized and portable digital identity is a prerequisite to financial inclusion and competition.”

But what is a “decentralized and portable digital identity”? In theory, it provides a way to avoid having to trust a single, centralized authority to verify and take care of our identifying credentials. For internet users, it would mean that instead of relying on Facebook or Google’s own log-in tool to provide our credentials to other websites, we could own and control them ourselves. In theory, this could better protect that information from hackers and identity thieves, since it wouldn’t live on company servers.

The concept (sometimes called “self-sovereign identity”) is something of a holy grail in the world of internet technology, and developers have been pursuing it for years. Big companies including Microsoft and IBM have been working on decentralized identity applications for a while now, and so have a number of startups.

But it’s more than just an internet thing. For the roughly one billion people around the world without any kind of identifying credentials at all, such technology could make it possible to access financial services that they cannot today, starting with things like bank accounts and loans.

Helping some of those people must be part of what Facebook meant when it said in the Libra white paper that the new system is intended to “serve as an efficient medium of exchange for billions of people around the world” and “improve access to financial services.” In some cases the currency itself might be able to do that, but in others it’s likely that users will need some form of identification to access a particular service. That’s probably why Libra’s developers call an open, portable identity standard a “prerequisite to financial inclusion.”

But such a digital identity could go beyond finance, too. Sharing many kinds of sensitive data using a blockchain—for instance, health information—might require some form of automated ID check. 

Facebook itself already has experience with digital identities. Facebook Connect lets users log in to third party sites using their Facebook-verified credentials (you might be using it to access technologyreview.com right now). But Facebook Connect is risky because it relies on a central authority, argues Christopher Allen, cochair of the credentials community group of the World Wide Web Consortium, the most important international standards body for the web. Trusting one entity with this responsibility is dangerous because the site could go down or the business could fail. And Facebook can revoke accounts at will.

But it’s hard to say how decentralized Libra’s new identity system would be, because Facebook hasn’t revealed anything about what it’s planning.

For example, there’s the possibility that the digital identity will only work inside the Libra network, which requires permission to participate in. Unlike systems like Bitcoin and Ethereum, for which anyone with the right hardware and an internet connection can join and help validate transactions, Libra requires its validators to be identified and approved. Nearly 30 companies have already signed up to run network “nodes,” and Libra’s developers want to up that to 100 by the time the platform is supposed to launch for real next year.

Facebook’s main message with the launch of Libra and the Libra Association appears to be a response to past criticisms of how it handled personal data. The company appears to be saying “Hey, look, we’re trying to be more open. We don’t want to be this honey pot of everyone’s information,” says Wayne Vaughan, co-founder of the Decentralized Identity Foundation, a consortium of companies all working on aspects of blockchain-based identity. But if whatever identity standard they might come up with only works for 100 companies, says Vaughan, “that’s not decentralized”—it’s just a standard for 100 companies. Facebook did not respond to a request for comment.

Either way, it’s not clear how Facebook and the Libra Association would overcome some big technical challenges that have held back blockchain-based identity systems. For one, blockchains are still hard to use for many people. A problem that is particularly difficult for identity applications is that if you lose or forget your private keys, which aren’t easy to manage in the first place, it’s hard to restore them, says Allen.

Another technical challenge pertains to privacy. How will the personal identification data be kept separate from financial transactions? This piece is particularly concerning for privacy advocates in the context of Libra, given Facebook’s less-than-stellar track record. And an aversion to financial surveillance fuels much of the cryptocurrency movement.

“Where you spend your money and who you spend it with and how much you spend is some of the most private information for people,” says Vaughan.

On the whole, says Allen, though the technology of decentralized identity has advanced to the point of several serious pilot tests, it’s “not anywhere near ready” for adoption by billions of people around the world. And given what the company has revealed so far, “I don’t see how Facebook can do it,” he says.

Source: https://www.technologyreview.com/s/613877/how-facebooks-new-blockchain-might-revolutionize-our-digital-identities/

ThreeD Capital Inc. $IDK.ca – What #Bitcoin Breaking $11,000 Means for the #Crypto Market’s Future $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 4:36 PM on Tuesday, June 25th, 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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What Bitcoin Breaking $11,000 Means for the Crypto Market’s Future

  • Bitcoin, which collapsed to a low of $3,100 in December, smashed through the $11,000 mark on Sunday after breaking through the critical $10,000 level.
  • Both levels were considered highly unlikely only a few weeks ago.

By Shoshanna Delventhal Updated Jun 25, 2019

Bitcoin, which collapsed to a low of $3,100 in December, smashed through the $11,000 mark on Sunday after breaking through the critical $10,000 level. Both levels were considered highly unlikely only a few weeks ago. At a price just under $11,000 on Monday evening, the world’s largest digital coin by market capitalization recovered over half its historic increase during the peak of the crypto frenzy when it neared $20,000 before crashing almost 75%. 

Bitcoin’s continued rise, which is also fueling rallies in Asian cryptocurrency stocks, illustrates the currency’s resilience in the face of major skepticism and also cryptocurrency’s widening acceptance by major established companies such as Facebook Inc. (FB), investment behemoth Fidelity, and others, as outlined in a detailed Bloomberg report. 

Crypto Money Has Been ‘Waiting on the Sidelines’

“The bounce back of Bitcoin has been fairly extraordinary,” said George McDonaugh, chief executive and co-founder of London-based blockchain and cryptocurrency investment firm KR1 Plc, to Bloomberg just after the virtual currency breached the key $10,000 level on Friday. It was the first time that Bitcoin had reached that level in roughly 15 months. “Money didn’t leave the asset behind, it just sat on the sidelines waiting to get back in.” 

Some traders and ultra-bulls are betting Bitcoin can hit $50,000, per The Wall Street Journal.

This in part due to renewed mainstream interest in cryptocurrencies and the distributed ledger technology that it runs on. Facebook’s Libra is perhaps the highest profile crypto project, as the social media pioneer partners with companies such as Visa Inc. (V) and Uber Technologies Inc. (UBER) to build the system. 

Asian Crypto-Stocks Gain Momentum Alongside Bitcoin Rally

The crypto rally coincided with a rally in related stocks in Asia on Monday, per another Bloomberg report. In Tokyo, GMO Internet Inc. jumped 7%, while Metaphs Inc. climbed 11%, Remixpoint Inc. 6.2%, and Ceres Inc. increased 4.4%. In South Korea, Vidente Co. increased 5.4%, and Woori Technology Investment Co. jumped 4.6%. 

Supun Walpola, an analyst with LightStream, attributes gains in Asian crypto-stocks to Bitcoin’s resurgence. â€œGoing long on stocks that have exposure to cryptocurrency is something that we have seen in the past during a Bitcoin/cryptocurrency bull run — especially with those who want to avoid the volatility of crypto but at the same time want to have some exposure into these markets,” he said, adding that the increase in stock prices for these crypto companies typically increase more than the actual benefit that these firms would get during a crypto surge. This has “always resulted in immediate corrections,” Walpola wrote in an email to Bloomberg

That said, investors should check themselves before investing in crypto stocks despite their relatively lower risk, given “such strategies have often gone wrong when crypto markets turn red — which could happen just about at any time,” said the analyst. 

While Bitcoin has eased back below $11,000 it is still dramatically higher than the $10,000 support level. Bitcoin’s 2019 rebound – and that of other cryptocurrencies – will be tested by the latest calls by Treasury Secretary Steven Mnuchin for new global regulatory standards to bring cryptocurrency “out of the shadows” and to prevent illicit financing by criminals, terrorists and rogue nations. Crypto bulls say these rules would hobble the young industry, as outlined in another Bloomberg report. 

Looking Ahead 

Despite the growing demand for cryptocurrencies and signs that the long “crypto winter” is over, various headwinds threaten to pull Bitcoin back below $10,000, likely resulting in a downfall for the rest of the nascent industry. These risks position the digital coin for continued volatility as demonstrated in May. Alongside other downside drivers, the fact that bitcoins are used mostly for speculation, not commerce, has also been a main concern cited by bears.

Source: https://www.investopedia.com/what-bitcoin-breaking-usd11-000-means-for-crypto-market-s-future-4691230

ThreeD Capital Inc. $IDK.ca – #TechCrunch Founder Sells $1.6 Million House on #Crypto Real Estate Platform $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 9:49 AM on Tuesday, June 25th, 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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TechCrunch Founder Sells $1.6 Million House on Crypto Real Estate Platform

  • Propy, a blockchain based real estate platform, announced the sale of a $1.6 million San Francisco property owned by the venture capital fund CrunchFund, co-founded by Michael Arrington.
  • Announcement follows news of Propy’s highest cost transaction to date, a $2.4 million duplex in San Francisco, completed entirely on the platform.

Daniel Kuhn

Propy, a blockchain based real estate platform, announced the sale of a $1.6 million San Francisco property owned by the venture capital fund CrunchFund, co-founded by Michael Arrington.

The announcement follows news of Propy’s highest cost transaction to date, a $2.4 million duplex in San Francisco, completed entirely on the platform.

Propy is a real-estate transaction platform that empowers buyers, sellers, their agents, and escrow agents to close a traditional real estate deal entirely online. The purchase offer, payment and deeds are uploaded to an immutable blockchain.

“The traditional real estate sale process is arduous and broken. Buyers, sellers, and their professional support struggle with overly complex interactions – it’s an opaque, dated, and unnecessarily lengthy process, full of risks such as wire fraud,” said Arrington, founder of TechCrunch, whose most recent venture is into blockchain capital investments and management with his $100m firm, Arrington XRP Capital.

“When it comes to expensive property or other expensive goods, these normally already have digital presentation of ownership, that’s why blockchain is applicable to space,” said CEO Natalia Karayaneva. “Blockchain’s main implications, after [virtual] money, is as a technology that enables ownership transfers… it aligns the entire process of any value transfer including real estate.”

Propy completed its first deal in 2017, and its first US transaction in Vermont 12 months ago. Worldwide, they have assisted in some form in over 60 real estate transfers. This includes auctioning a 17th century Italian mansion and UNESCO site on its blockchain.

The median price of a house sold on its platform is around $1.5 million, said Karayaneva, though the value of the houses is steadily increasing. About 20 realtors have closed deals on the platform, though 3,000 have signed up.

Karayaneva believes in two or three years the majority of real estate transactions will be entirely digitized. The company is working with county governments to provide technology that automatically and immediately reports the transfer of title deeds.

“We don’t want to work against them. Either we help them or will eliminate them,” she said.

The venture capital arm of the U.S. National Association of Realtors (NAR) recently invested an undisclosed amount in Propy via its REACH accelerator program. The company also raised $15.5 million via an initial coin offering in 2017.

Arrington previously purchased a $60,000 apartment in Kiev through Propy, using ethereum and smart contracts to settle the deal.

Source: https://www.coindesk.com/techcrunch-founder-sells-1-6-million-house-on-blockchain-real-estate-platform

ThreeD Capital Inc. $IDK.ca – Industry bigwigs explain #blockchain in as few words as possible $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 1:22 PM on Wednesday, June 19th, 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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Industry bigwigs explain ‘blockchain’ in as few words as possible

At this year’s annual TNW conference, Hard Fork took the opportunity to ask a number of industry experts to explain blockchain in as few words as possible. We hoped to get a bit of insight into how the tech is developing and what the industry currently makes of it.

Here’s what they said:

1. “Blockchain is a chain of blocks. That’s the definition, anything else is wrong.” – João Almeida, co-founder and CTO of Opennode – the Bitcoin payments system that recently helped Lil Pump’s merch store accept Bitcoin.

2. “Blockchain is the freedom to trade.” – Kirill Suslov, the CEO and co-founder of cryptocurrency trading platform TabTrader.

3. “Blockchain is a hash-linked data format.” – Francis Pouliot, CEO of Canadian Bitcoin company Bull Bitcoin.

4. “A new technology enabling us to take the control and governance of information from the few, and to the many.” – Jessi Baker from Provenance, a firm using blockchain to make supply chains more transparent.

5. “Blockchain is simple, take a bunch of transaction, record them as a unique block, and link all these blocks together.”– Ricardo Mendez, the European technical director from Samsung’s emerging tech investment arm, Samsung NEXT.

The take away?

There is some consistency in what is being described here. Interestingly though, all the people Hard Fork asked steered clear of the common buzzwords that tend to accompany blockchain in the media.

Blockchains are often described as being immutable, tamper-resistant, and decentralized. However, with private permissioned systems being the preferred type of blockchain for institutional use, these buzzwords aren’t always so applicable.

It seems too, that blockchain’s definition is, from this small sample at least, broadening so that it can include all kinds of distributed databases and applications with varying levels of decentralization.

Baker’s response also highlights the undeniable politic that’s associated with the decentralized tech too.

We’ll have to remember that when someone says blockchain, what they mean specifically, isn’t always that simple or universal.

Source: https://thenextweb.com/hardfork/2019/06/19/blockchain-explained-industry/

ThreeD Capital Inc. $IDK.ca – #Crypto is coming: get ready to spend #Facebook’s $FB money $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 10:59 AM on Monday, June 17th, 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 is coming: get ready to spend Facebook’s money

The social network is likely to release details of its cryptocurrency this week: and it won’t be much like Bitcoin

First it had your friends, then it had your pictures, then it had your diary. Now, in the latest effort to entwine its systems still further into the everyday lives of its users, Facebook wants to get into your wallet.

On Tuesday, the social media behemoth is expected to reveal its own cryptocurrency, which has variously been called Libra and GlobalCoin. However, unlike other cryptocurrencies, the new creation will not have been founded in the spirit of libertarianism, outside the backing of established, conventional authorities. Instead, it appears to have the endorsement of more than 12 corporations, from Uber to PayPal, Visa and Mastercard.

Since they have risen to prominence over the past decade, cryptocurrencies have conjured up visions of a wild west of finance, where values fluctuate wildly and terrorists and drug dealers come piling in.

Facebook’s new venture appears to be somewhat removed from that image. Reports suggest that the new currency will be overseen by a group of companies that have each invested some $10m to join a consortium and administer it. 

Another indication that the Facebook currency will be different from its predecessors is the fact that it will be pegged to a number of government-issued currencies, in a bid to avoid the vast value fluctuations that have dogged other digital currencies. 

That inconsistency in valuation is best illustrated by the price of Bitcoin, which was initially sold for a few cents before it reached a record high of just under $20,000 per coin in December 2017. Each one now sells for just over $8,300.

The Facebook project is expected to cost $1bn and has been in development for a year. It should enable Facebook’s 2.4 billion monthly users to change dollars and other international currencies into its digital coins. The currency can then be used to buy goods on the internet – and in shops and other outlets – or to transfer money, without the need for a bank account.

Facebook’s founder, Mark Zuckerberg, met the governor of the Bank of England, Mark Carney, last month to talk about his plans, and has also discussed the matter with US Treasury officials.

“Payments is one of the areas where we have an opportunity to make it a lot easier,” Zuckerberg told the company’s developer conference in April.

“I believe it should be as easy to send money to someone as it is to send a photo.”

It is expected that Facebook will aim to shatter the poor image of cryptocurrencies, which were initially widely used by criminals to make transactions on the dark web.

It has been reported that Facebook will not directly control the currency but that some members of the consortium will act as “nodes” within the system that can give the green light to transactions.

Reports also suggest that hotels website Booking.com and the payments technology company Stripe have signed up. It is expected that Facebook will release a briefing on the new cryptocurrency this week.

Concerns have been raised, however, that regulatory issues and Facebook’s hitherto poor track record on data privacy and protection are likely to prove major hurdles on the way to making any cryptocurrency a success.

Facebook is also looking at paying users fractions of a coin for activities such as viewing ads and interacting with content related to online shopping, in a system similar to the loyalty schemes run by retailers.

The powerful in tech…

… must keep being challenged with bold investigative journalism. It’s been a year since The Observer and The Guardian broke the story that became the Cambridge Analytica scandal, exposing the truth and shedding light on the reality of foul play within the tech industry. We saw how personal data could be harvested on an unprecedented scale to fulfil the ambitions of the powerful. Through this courageous investigative reporting, we shamed Facebook, and prompted a global conversation about the importance of data privacy, holding tech companies to account and pressuring governments to enact regulation.

The Guardian is committed to continuing this vital work; we will keep persevering, uncovering and challenging those with so much power in the tech industry. This has never been so pressing: we’re living in a time when the integrity of our democracy and the legitimacy of our votes are in question. Political campaigns reside in our many digital feeds and, with each year, this will become ever more prominent. The world needs journalism that promotes transparency and investigates where others won’t go. Reader support means The Guardian can keep investigating the critical issues of our time.

The Guardian is editorially independent, meaning we set our own agenda. Our journalism is free from commercial bias and not influenced by billionaire owners, politicians or shareholders. No one edits our editor. No one steers our opinion. This is important as it enables us to give a voice to those less heard, challenge the powerful and hold them to account. It’s what makes us different to so many others in the media, at a time when factual, honest reporting is critical.

Every contribution we receive from readers like you, big or small, goes directly into funding our journalism. This support enables us to keep working as we do – but we must maintain and build on it for every year to come.

Source: https://www.theguardian.com/technology/2019/jun/16/facebook-cryptocurrency-get-ready-to-spend-money

ThreeD Capital Inc. $IDK.ca – #Apple $AAPL Publishes #Bitcoin Icons & ‘CryptoKit’; #iPhone #Crypto Wallet Coming? $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 10:19 AM on Tuesday, June 4th, 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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Apple Publishes Bitcoin Icons & ‘CryptoKit’; iPhone Crypto Wallet Coming?

  • The new Mac Pro is grabbing the headlines while a ‘CryptoKit’ for developers is getting crypto adopters excited. | Source: Photo by Brittany Hosea-Small

By CCN: Apple’s Worldwide Developer Conference (WWDC) is underway, and while most of the focus is on iOS3, Apple quietly revealed a new upgrade for developers called CryptoKit.

Apple also released its new icon set for designers which feature four bitcoin logo

It begs the question, what are Apple’s plans for cryptocurrency integration?

Apple’s Frederic Jacobs announced new CryptoKit for developers

Apple CryptoKit: a path to a hardware wallet?

CryptoKit provides developers with a new toolkit for cryptographic functionality. It means app developers can integrate operations like hashing, key generation, and encryption. In particular, CryptoKit will facilitate the use of public and private key management.

“Use public-key cryptography to create and evaluate digital signatures, and to perform key exchange. In addition to working with keys stored in memory, you can also use private keys stored in and managed by the Secure Enclave.”

Viktor Radchenko, founder of TrustWallet, said CryptoKit brings Apple one step closer to full hardware wallet functionality.

“Only a few steps away before you can turn your phone into a hardware wallet.”

TrustWallet’s Viktor Radchenko said Apple is one step closer to facilitating a hardware wallet

Apple’s Frederic Jacobs, part of the cryptographic and security engineering team, said CryptoKit is “a fast and secure Swift API to perform cryptographic operations.”

Jacobs did not respond to a request for further comment at the time of publishing.

Apple bitcoin icons

The company also released the new San Francisco icon set designed for iOS3. Among the set of 1,000 icons are four bitcoin logos. Two circular BTC logos and two square. There are no ethereum logos or any other cryptocurrency.

Apple releases new icon set complete with bitcoin logos

The new icon set means developers can easily integrate bitcoin icons into their apps.

Apple following Samsung’s cryptocurrency lead?

As CCN has extensively reported, Samsung has taken the initiative with cryptocurrency integration. The Samsung Galaxy S10 launched earlier this year with an integrated hardware wallet designed to store private keys. 

Samsung is also reportedly readying crypto asset integration into Samsung Pay, a payment system with over 10 million users. And in May, CCN reported that Samsung plans to extend its hardware wallet into budget Galaxy models too.

Everything we know about CryptoKit

Apple’s CryptoKit will allow developers to perform common cryptographic operations, such as:

“Compute and compare cryptographically secure digests” and “generate symmetric keys, and use them in operations like message authentication and encryption.”

For developers, it provides a toolkit to build more secure apps and frees apps from handling raw pointers.

The tech giant will reveal more about CryptoKit in a WWDC session on Wednesday

Still too early to predict Apple’s crypto plans

It’s too early to draw any conclusions about Apple’s cryptocurrency plans, if there are any. But at least Apple is providing the tools for cryptocurrency developers to build on iOS. For now, consider this the start of a much longer story.

Ben Brown

Ben is a journalist with a decade of experience covering financial markets. His writing has appeared in The Huffington Post and he worked at Block Explorer, the world’s longest-running source of Blockchain data. Reach him at benjamin-brown.uk