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Swiss City Plans #Blockchain Voting Pilot Using #Ethereum-Based IDs $SX $SX.ca $SXOOF $IDK.ca $AAO.ca $HPQ.ca

Posted by AGORACOM-JC at 11:20 AM on Monday, June 11th, 2018
  • Swiss city of Zug, known for its proactive support of the blockchain industry
  • launching a voting pilot that will base both polling system and residents’ IDs on blockchain technology
  • e-voting pilot, which will take place between June 25 and July 1,
    • developed as part of the city’s efforts to adopt more blockchain applications and will tie in with a digital identity trial currently underway
Jun 11, 2018 at 12:00 UTC

The Swiss city of Zug, known for its proactive support of the blockchain industry, is launching a voting pilot that will base both polling system and residents’ IDs on blockchain technology.

The e-voting pilot, which will take place between June 25 and July 1, has been developed as part of the city’s efforts to adopt more blockchain applications and will tie in with a digital identity trial currently underway, the city government said in an announcement on Friday.

In July 2017, the city announced plans to launch an ethereum-based application called “uPort” to digitize local residents’ ID information. The pilot phase got started in November and now has over 200 residents signed up for the new service, according to the announcement.

By using their digital ID, local residents will be able to cast votes in the one-off blockchain polling pilot, though the city government indicated that the vote is a “consultative test” and the results will not be binding.

The primary goal of the trial, it added, is to the review the security aspects of the polling system, examining whether the platform is able to achieve “immutability, testability and traceability” while maintaining voters’ privacy.

The use case for blockchain in voting systems – with its potential to remove election fraud and provide immutable records – is one that has seen notable interest both from authorities at various levels of government, as well as within finance.

Nasdaq announced in November it was developing an electronic shareholder voting system based on blockchain for the South African capital markets, while Santander used the tech for shareholder voting at its annul AGM in May – possibly a world first.

Over in Russia, Moscow’s municipal government announced in March that it was extending its use of a blockchain-based voting platform to the city block level. The Digital Home service allows neighbors in high rises to electronically vote and communicate on issues to do with building maintenance and management.

And, in the same month, the U.S. state of West Virginia launched a voting pilot project for absentee voters in the military by using a mobile application powered by blockchain technology, while Sierra Leone also notably piloted the tech in a presidential election.

Source: https://www.coindesk.com/swiss-city-plans-to-vote-on-blockchain-using-ethereum-digital-id/

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How #Blockchain Technology Can Save The IRS $SX.ca $SXOOF $IDK.ca $AAO.ca $HPQ.ca

Posted by AGORACOM-JC at 11:14 AM on Tuesday, June 5th, 2018
  • IRS plans to spend $291 million updating 140 computer systems to help it implement the new tax law
  • InformIation-technology costs and other back-office operations will consume more than 90% of the money Congress is giving the IRS for implementation.
  • Overall, the IRS budget is estimated to be $11.4 billion in the next fiscal year

Adam Bergman , Contributor

According to a previously undisclosed Internal Revenue Service (“IRS”) document, the IRS plans to spend $291 million updating 140 computer systems to help it implement the new tax law. Those information-technology costs and other back-office operations will consume more than 90% of the money Congress is giving the IRS for implementation. Overall, the IRS budget is estimated to be $11.4 billion in the next fiscal year.

For the IRS, keeping up with changes in the tax law and new technology can be quite expensive. The internet has created many positive changes for the IRS, including reducing costs for many services, such as tax return filing, data analysis and the exchange of information.  However, it seems that once again a new technology revolution is upon us; blockchain.

Shutterstock

Blockchain technology is based on the ideals of trust, security, speed, and cost efficiency. A blockchain is a digital ledger and can be designed to record any type of public or private transaction in real time.  The most widely used public blockchains involve cryptocurrencies, such as Bitcoin, however, blockchain technology can be employed without the involvement of cryptocurrency.

Cryptocurrency transactions, such as Bitcoin, are recorded in a blockchain, which can be thought of as a worldwide digital spreadsheet or ledger.  Blockchain leverages the capital of a large peer-to peer network to verify and approve each transaction.  Blockchain is encrypted and can be public or private. Blockchain encryption involves public and private keys (much like a two-key system to a vault) to ensure security. Each time a transaction is verified by a network, the transaction is stored in a block which is linked to the preceding block, thus, creating a chain.  Each block must refer to the preceding block to be valid.  In other words, if you wanted to steal a Bitcoin, you would have to rewrite the coin’s entire history on the blockchain.

Blockchain and its digital ledger platform can revolutionize the way data is analyzed, exchanged and stored by the IRS. Blockchain can help the IRS lower costs and increase security, as well as enhance the speed in which it accesses and reviews taxpayer data.  Here are just a few small examples of some of the issues the IRS is currently experiencing.

  • In 2017, approximately $600 billion dollars were rolled over from 401(k) plans to IRAs. Currently, the IRS could wait up to a year in order to receive the rollover data on the IRS Form 1099-R.
  • If a business pays an independent contractor an amount in excess of $600 during a taxable year, the IRS could wait up to a year in order to receive the data on the IRS Form 1099.
  • When a taxpayer mails a check to the IRS for a tax payment, the IRS may have to wait three to seven days for the transaction to settle.
  • The IRS reported that in 2017, there were 242,000 cases of taxpayer identity-theft reports, a big drop from 2015, but still a significant ongoing issue.
  • Spending within the IRS has declined by $533 million and its staff has dropped 14 percent since 2012.

The implementation of a private blockchain platform by the IRS can be transformational from a speed, security, and cost perspective.  Private blockchain or distributed ledger technology, as referred to by the financial services industry, can make the IRS a more cost effective and efficient regulator. Because tax return data is highly private, a public blockchain model, such as Bitcoin, would likely not be a suitable option for the IRS since anyone would be able to access and interact with it.  Whereas, a private blockchain model would allow the IRS and only other permitted parties to view the blockchain data. With a private blockchain model, transactions can be verified privately or by approved third-party verifiers, removing the need for anonymous miners who require a financial reward as well as the need for large amounts of electricity.

For example, when a bank or financial institutions transfers 401(k) plan funds to an IRA, the transaction can be verified and reported by the parties on a blockchain so that the IRS will have immediate access to the data.  The same technology can be employed for almost all Form 1099 related transactions, which amount to over one billion dollars a year, according to the IRS.  Likewise, a digital ledger platform could let the IRS or other government regulators audit individuals or corporations in real time, giving them instant access to financial or tax return related data.  Moreover, using a private blockchain platform will offer the IRS far more security against taxpayer identity theft because of cryptography. Smart contracts technology can help the IRS manage and enforce settlement agreements with taxpayers, as well as manage various other agreements with individual and corporate taxpayers.

We have just started scratching the surface of the potential impact of the blockchain revolution for all industries, including government agencies, such as the IRS.   As a 2016 PricewaterhouseCoopers (PWC) report stated, “Distributed ledger technologies offer institutions a once-in-a-generation opportunity to transform the industry to their benefit, or not.” Blockchain technology can potentially provide the IRS with a greater impact than E-filing. It will help the IRS save costs, allow for real time tax related data analysis, reduce fraud, as well as help agents better manage audits. The next time Congress is formulating a budget for the IRS, they would be wise to consider the many benefits that blockchain technology related investments can better the agency. Failing to do so could prove to be an IRS nightmare.

Adam Bergman is a tax partner with IRA Financial Group and president of IRA Financial Trust Company. Contact him via email at [email protected] or call him at 800-472-0646 Ext 12.

Source: https://www.forbes.com/sites/greatspeculations/2018/06/04/how-blockchain-technology-can-save-the-irs/#584ab320e7ab

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Major bank CEOs say #blockchain will underpin the financial industry ‘in five years’ $SX $SX.ca $SXOOF $IDK.ca $AAO.ca $HPQ.ca

Posted by AGORACOM-JC at 11:28 AM on Monday, June 4th, 2018
  • Banks have invested millions in developing blockchain applications in recent years, as part of a broader industry effort to try to cut costs and simplify their back-office processes.
  • Rather than a centralized system, blockchain allows multiple parties to have simultaneous access to a constantly updated ledger that cannot be changed.
  • “We believe there is huge promise in blockchain. It is early times in this technology but it can bring about more efficient processes,” Carlos Torres Vila, CEO of BBVA, told CNBC on Monday

Sam Meredith | @smeredith19

Apple, Facebook and other big tech can be a threat — or a partner: ING CEO   7 Hours Ago | 02:48

Blockchain technology could soon revolutionize the global banking industry, according to the chief executives of two major European lenders.

Banks have invested millions in developing blockchain applications in recent years, as part of a broader industry effort to try to cut costs and simplify their back-office processes. The technology, which is perhaps better known as the software powering cryptocurrencies such as bitcoin, was initially treated with skepticism by international lenders.

However, the use of blockchain in the banking industry is increasingly viewed as a proficient way of reducing the risk of fraud, with some banks now hailing its potential.

“So, if you look at blockchain… I think the banks are really working on this now because the potential is so huge and if the top five, six global banks would put their minds to it and agree on a standard, you could force (that) standard onto the globe,” Ralph Hamers, chief executive of ING Group, told CNBC’S Arjun Kharpal at the Money 2020 fintech conference in Amsterdam on Monday.

“And I think that you can actually then get to a timeframe of five or six years in which this will work,” he added.

‘Huge promise’

Rather than a centralized system, blockchain allows multiple parties to have simultaneous access to a constantly updated ledger that cannot be changed. That makes cheating the system by faking documents, transactions or any types of information, nearly impossible.

Fascinating to see crossborder M&A in European banking back on center stage: BBVA   4 Hours Ago | 02:56

“We believe there is huge promise in blockchain. It is early times in this technology but it can bring about more efficient processes,” Carlos Torres Vila, CEO of BBVA, told CNBC on Monday.

When asked whether he was as optimistic as ING’s Hamers in predicting that blockchain technology could be rolled out throughout the industry over the next five years, Torres Vila replied: “I am, I think it does have that promise and I think that timeframe should be about right… but we will see how it develops.”

Source: https://www.cnbc.com/2018/06/04/major-bank-ceos-say-blockchain-will-underpin-the-financial-industry-in-five-years.html

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The #blockchain explained for non-engineers $SX.ca $SXOOF $IDK.ca $AAO.ca $HPQ.ca

Posted by AGORACOM-JC at 3:27 PM on Friday, June 1st, 2018
  • Blockchain buzz is inescapable
  • While the technology has transformed some companies and minted fresh millionaires in a dazzlingly short period of time,
    • blockchain is as confounding as it is powerful
  • If you’re confused by the hype, you’re not alone

What is blockchain? Is blockchain tech limited to Bitcoin? What is blockchain’s relationship to cryptocurrency? What are blockchain-related jobs? We answer these questions about blockchain and more.

By Dan Patterson | June 1, 2018 — 15:01 GMT (08:01 PDT) | Topic: How Blockchain Will Disrupt Business

Blockchain buzz is inescapable. And while the technology has transformed some companies and minted fresh millionaires in a dazzlingly short period of time, blockchain is as confounding as it is powerful. If you’re confused by the hype, you’re not alone.

This ebook, based on the latest ZDNet/TechRepublic special feature, looks at how blockchain is shaking up the economy and changing the way individuals and enterprises conduct business.

The blockchain is a decentralized, vettable, and secure technology that has, in less than a decade, become a powerful driver of digital transformation poised to help create a new employment economy. Evangelists claim blockchain tech will disrupt industrial supply chains, streamline real estate transactions, and even redefine the media industry. “Think of blockchain as the next layer of the internet,” said Tom Bollich, CTO of MadHive. “HTTP gave us websites … now we have blockchain, which is like a new layer of computing.”

SEE: The executive’s guide to implementing blockchain technology (PDF) (TechRepublic)

Employment data seems to validate blockchain’s current hype cycle. Google search data indicates a cresting wave of interest in the tech, and according to Indeed.com searches for blockchain-related jobs spiked nearly 1000 percent since 2015. Enterprise organizations like Capital One, Deloitte, ESPN, and eBay are hiring blockchain engineers, retraining project managers to facilitate integrations, and even searching for specialized attorneys.

Image: Google Search Trends

But while the technology’s applications seem nearly limitless, understanding how the blockchain works and why it’s important is challenging, even for technology and IT professionals. The blockchain is, fundamentally, an ever-expanding database. Just like a bank record, every transaction is logged and then made available to the public. The database relies on a novel method of encryption, allowing developers to verify the authenticity of each transaction.

The database is strengthened with each transaction, so to incentivize so-called ‘miners’ — individuals or organizations that use powerful GPUs to solve algorithmic challenges — each chain releases a digital ‘coin’, commonly referred to as cryptocurrency. The Bitcoin blockchain releases nodes — or, blocks — of transaction data every 8 to 10 minutes. Miners receive a portion of a coin for their effort, and the chain’s encryption is strengthened. Because the code is open and viewable by anyone with a computer, blockchain tech is often referred to as a ‘public ledger’ of activity.

Although most often associated with Bitcoin, the blockchain can be stamped with a vast spectrum of data, said Bollich’s co-founder and Riot Blockchain’s CEO John O’Rourke in an interview with TechRepublic. “It’s basically basing your faith in math [as opposed to] faith in some other trusted party that could potentially be hacked,” he said. “The blockchain allows all of that [activity] to be digitized, and secured with every single transaction on that ledger.”

Image: Satoshi NakamotoDigital currency is attractive to some because the coins are algorithmically dispensed and not controlled by a government. In the latter half of 2017 and first half of 2018 initial coin offerings — ICOs — raised billions in speculative funding.

SEE: What is blockchain? Understanding the technology and the revolution (PDF) (TechRepublic)

However, a wise man once said, “Don’t believe the hype.” When it comes to cryptocurrency and blockchain hype, we should all learn from Flavor Flav’s immutable wisdom. It’s nearly impossible to accurately value cryptocurrency. Some currencies are easy to hack. Most coins falter or never gain market traction, and established coins like Bitcoin and Ether often fluctuate wildly in price. Government regulation seems inevitable, and the SEC is cracking down on fraudulent traders.

Analysts at research firm Gartner, though still bullish on the long-term future of blockchain tech, are quick to caution that enterprise integration is not as easy as the hype might imply. According to a recent report, 14 percent of CSOs expressed concern that the technology will require significant organizational and cultural changes of the IT department. Another 77 percent of CIOs said their organization has no short-term interest in blockchain technology.

Alex Feinberg, a former Google exec and COO of Petram Security, remains confident in the long-term future of blockchain tech. Blockchain startups are on the rise, he noted, and the employment landscape is rosy for talented programmers and integration experts.

“As I started understanding what investment banks did and as I started understanding how the banking system was constructed, and as I understood how money was created,” Feinberg said, “it became apparent to me that the US government, the US banking system was in a bind.” The solution, he said, was decentralization. And the technological key to innovative decentralization? “The blockchain.”

Source: https://www.zdnet.com/article/the-blockchain-explained-for-non-engineers/

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St-Georges Eco-Mining $SX.ca $SXOOF Signs Agreement to Spin-Out Subsidiary #ZeU $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 9:50 AM on Thursday, May 31st, 2018

Sx large

  • Announced the signing of an arrangement agreement providing for the spin-out of its subsidiary ZeU Crypto Networks Inc
  • Intend to list ZeU on the Canadian Securities Exchange
  • Shareholders will receive 11,249,825 shares of Zeu,
    • representing one share of ZeU for every eight common shares of St-Georges held

Montreal, QC / May 31, 2018 – St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce the signing of an arrangement agreement providing for the spin-out of its subsidiary ZeU Crypto Networks Inc. with the intent of listing ZeU on the Canadian Securities Exchange.

Under the terms of the Arrangement Agreement, shareholders of St-Georges at the time of the completion of the Spin-Out, anticipated to be the latter part of July, will receive 11,249,825 shares of Zeu, representing one (1) share of ZeU for every eight (8) common shares of St-Georges held based on the current issued and outstanding share capital. A St-Georges Shareholders’ meeting to approve the Arrangement Agreement is set for July 5, 2018 and proxy materials related to the meeting will be delivered to shareholders and made available on SEDAR in June 2018. A copy of the Arrangement Agreement will also be filed on SEDAR. The Arrangement Agreement is subject to the acceptance of the CSE.

ZeU holds an exclusive license to use Qingdao Tiande Technologies Limited and Beijing Tiande Technologies Limited’s (collectively “Tiande”) proprietary technologies, patents and know-how to develop and commercialize novel mineral commodity production chain control, tracking and trading exchanges, and has entered into a binding asset purchase agreement with Tiande, and the intervention Guiyang Tiande Technologies Limited, to acquire substantially all the intellectual property of Tiande, as more particularly described in St-Georges February 26 and May 22, 2018 press releases.

ON BEHALF OF THE BOARD OF DIRECTORS

“Frank Dumas”

FRANK DUMAS, PRESIDENT & CEO

About St-Georges

St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.

The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

The release contains forwarding looking information and statements as defined by law including, without limitation, Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”), respecting St-Georges’ plans to spin-out its subsidiary ZeU. which is intended to be listed on the Canadian Securities Exchange. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by the forward-looking statements including that the spin-out may not be completed as planned or at all due to failure to obtain shareholder or regulatory approval ,the inability to complete the Acquisition, raise sufficient capital to adequately fund ZeU or a decision of the board of St-Georges not to proceed, which decision can be made at any time prior to closing. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and a number of assumptions that may prove to be incorrect, including, without limitation, assumptions about general business and economic conditions, the timing and receipt of required approval and continued availability of capital and financing. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein. The foregoing list is not exhaustive and St-Georges undertakes no obligation to update any of the foregoing except as required by law.

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Forget #Bitcoin: #Blockchain is the Future $SX $SX.ca $SXOOF $IDK.ca $AAO.ca $HPQ.ca

Posted by AGORACOM-JC at 11:52 AM on Tuesday, May 29th, 2018
By Nathan Reiff | May 27, 2018 — 5:55 AM EDT

Cryptocurrencies of all types make use of distributed ledger technology known as blockchain. Blockchains act as decentralized systems for recording and documenting transactions that take place involving a particular digital currency. Put simply, blockchain is a transaction ledger that maintains identical copies across each member computer within a network.

Any party is able to both review previous entries and record new ones, although most blockchain networks have complex rules for the addition of new groups of records, “blocks,” to the chain of previous records. The blocks and the contents within them are protected by powerful cryptography, which insures that previous transactions within the network cannot be either forged or destroyed. In this way, blockchain technology allows a digital currency to maintain a trusted transaction network without relying on a central authority. It is for this reason that digital currencies are thought of as “decentralized.” (See also: How Does Blockchain Work?)

While blockchain is most famous for its role in facilitating the rise of digital currencies over the past several years, there are also many other non-cryptocurrency uses for this technology. Indeed, some blockchain proponents believe that the technology could far outpace cryptocurrencies themselves in terms of its overall impact, and that the real potential of blockchain is only just now being discovered. As such, it’s likely that financial advisors and many others in the investing world will encounter blockchain technology much more in the years to come, whether it is linked with a specific cryptocurrency or if it’s being utilized in any number of other applications. Below, we’ll explore some of the most exciting and popular use cases likely to bring blockchain further into the world of mainstream business and finance.

Cross-Border Payments

Traditionally, the transfer of value has been both expensive and slow, according to a report by Deloitte, and especially for payments taking place across international borders. One reason for this is that, when multiple currencies are involved, the transfer process typically requires multiple banks in multiple locations before the intended recipient can actually collect his or her money. There are existing services to help facilitate this process in a faster way, but these tend to by quite expensive.

Blockchain technology has the potential to provide a much faster and cheaper alternative to traditional cross-border payments methods. Indeed, while typical money remittance costs might be as high as 20% of the transfer amount, blockchain may allow for costs as low as 2%, as well as guaranteed and real-time transaction processing speeds. There are hurdles to be passed, including regulation of cryptocurrencies in different parts of the world and security concerns. Nonetheless, this is one of the most promising and talked about areas of blockchain technology application. (For more, see: Bitcoin’s Most Profitable Use: the $600 Billion Overseas Remittance Business?)

Smart Contracts

Smart contracts are often seen as a highly powerful application of blockchain technology. These contracts are actually computer programs that can oversee all aspects of an agreement, from facilitation to execution. When conditions are met, smart contracts can be entirely self-executing and self-enforcing. For proponents of smart contracts, these tools provide a more secure, more automated alternative to traditional contract law, as well as an application that is faster and cheaper than traditional methods.

The potential applications of smart contract technology are essentially limitless and could extend to almost any field of business in which contract law would normally apply. Of course, while highly touted, smart contracts are not a magical substitute for old-fashioned diligence. In fact, the case of the Decentralized Autonomous Organization (DAO) is a cautionary tale and a warning to investors to not assume that smart contracts are any better than the information and organization that a user puts into them. Nonetheless, smart contracts remain one of the most exciting ways that blockchain technology has already extended beyond the cryptocurrency space and into the broader business world. (See also: Understanding Smart Contracts.)

Identity Management

One of the most problematic results of the internet age has been identity security. As diligent as many individuals and organizations are in maintaining their online identities and securing private information, there are always nefarious actors looking to steal and profit off of these digital items. Blockchain technology has already demonstrated the potential for transforming the way that online identity management takes place.

Blockchain offers a tremendous level of security, thanks to independent verification processes that take place throughout member computers on a blockchain network. In digital currency cases, this verification is used to approve transactions before they are added to the chain. This mechanism could just as easily be applied to other types of verification procedures, including identity verification and many other applications as well.

At this point, blockchain is a technology with an exceptionally broad set of potential uses. Although blockchain is most famous for its connections to the blossoming cryptocurrency world, several other applications have already been explored. Perhaps even more exciting, though, is that new ways of utilizing blockchain emerge every day. As such, whether you are directly involved in the digital currency space or not, it’s essential to develop an understanding of blockchain and how it may be used to transform the business and investment worlds. (For additional reading, check out: All About Amazon’s New Blockchain Service.)

Read more: Forget Bitcoin: Blockchain is the Future | Investopedia https://www.investopedia.com/tech/forget-bitcoin-blockchain-future/#ixzz5GtuZEx4l

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HTC’s new phone is all about the #blockchain $SX $SX.ca $IDK.ca #Blockstation $AAO.ca $HPQ.ca

Posted by AGORACOM-JC at 10:25 AM on Wednesday, May 16th, 2018

  • There’s no doubt about it: “Blockchain” is the biggest tech buzzword of today, the equivalent of “web 2.0” at its heyday a decade ago, and naturally, everyone wants in.
  • Latest company to join the blockchain party is HTC, who has announced the HTC Exodus, a smartphone that fully embraces blockchain technology

Blockchain is a crucial technology that underlies Bitcoin. It’s a decentralized, cryptographically secured database that’s near-impossible to tamper with, which makes it great for securely storing financial transactions data. But after Ethereum expanded on Bitcoin’s original idea, letting anyone run fully fledged apps on the blockchain, we’ve seen everyone jump on the bandwagon, from photography companies to burger chains.

So is HTC just riding the hype without much substance? Not necessarily.

On a teaser website, HTC says the phone will be “dedicated to decentralized applications and security.” The company lists several ways in which the Exodus phone will do this: For example, it will support decentralized applications (Dapps) and it will have a hardware element that will connect to cryptocurrency wallets. Both of these are doable: There’s already a phone called Sikur that focuses on security and has a built-in cryptocurrency wallet, and Sirin labs has announced its cryptocurrency-oriented Finney phone in May.

HTC also claims that every Exodus phone will be a node — a vital part of Bitcoin and Ethereum’s architecture, which broadcasts messages across the network. “We want to double and triple the number of nodes of Ethereum and Bitcoin,” HTC’s site says. The idea is interesting, but running a node eats up processing power, storage and bandwidth. It’s already possible to run a Bitcoin or an Ethereum node on a smartphone, but optimizing this for the mass market is not trivial.

There’s no word on the phone’s specs, though things like camera performance would likely be secondary to the phone’s utility as a blockchain-friendly device.

For this project, HTC has assembled a team led by Phil Chen, who was one of the architects behind the Barnes & Noble Nook, as well as a long-time product manager at HTC.

There’s no word on the price, either, but you can already reserve the phone by giving up your email, here.

Source: https://mashable.com/2018/05/16/htc-exodus/#0KD87U04piq2

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#Blockchain As An Application Platform $SX $SX.ca $IDK.ca #Blockstation $HIVE.ca $BLOC.ca $CODE.ca

Posted by AGORACOM-JC at 10:30 AM on Monday, May 7th, 2018
  • Many business use cases can be improved and/or solved by using distributed ledger technology
  • Can be used in many cases where trust services are needed by business applications
  • Can be utilized by using blockchain technology as an application platform to build the underlying trust infrastructure of the system

Issam (Sam) Andoni

Seasoned technologist and recognized expert in the field of IDM, Security and Access Management, and the use of PKI technology.

 Issam (Sam) Andoni , Forbes Councils

Shutterstock

Many business use cases can be improved and/or solved by using distributed ledger technology. It can be used in many cases where trust services are needed by business applications. This can be utilized by using blockchain technology as an application platform to build the underlying trust infrastructure of the system.

Although Bitcoin, the first real implementation of blockchain, is a decentralized currency and payment system, the underlying constructs that form the basis of the system do not have to be limited to payment transactions, accounts, balances or users. Instead, blockchain technology in Bitcoin is nothing more than transactions secured and executed by a scripting language using cryptographic methods. This means that blockchain is a platform with a scripting language that can solve many use cases other than just cryptocurrencies.

This property of blockchain led to smart contracts, an innovation presented by the cryptocurrency known as Ethereum. In the case of Ethereum, developers can create private cryptocurrencies and contract-based applications using a Turing-complete language, which allows businesses to use this language to set their own rules and policies in such applications.

The distributed ledger technology used in blockchain offers multiple benefits to businesses that make a difference when implementing a solution that requires a high degree of trust for business transactions. Using the technology offers the possibility to reduce costs and offers the opportunity for businesses to build and maintain an infrastructure that delivers capabilities at lower expenses than traditional centralized models.

Blockchain can process transactions faster because it doesn’t use a centralized infrastructure. Although there is no system totally secure from cyberattacks, the distributed nature of blockchain provides an unprecedented level of trust. The unchangeable property of blockchain and its public availability among its users, whether in a public ledger or a private one, provides transparency. Any user of the system can query transactions on a real-time basis.

Blockchain For Cryptocurrency

Bitcoin was the first implementation of a cryptocurrency based on distributed ledger technology. It was invented in 2009. and since then, it has been gaining popularity and traction by business owners seeking a distributed trust model. The Bitcoin consensus algorithm is based on proof of work (PoW). In PoW, transactions are collected into blocks by miners and added to the blockchain only if the miner can solve a cryptographic challenge that requires much computational power to be solved. The cryptographic challenge can only be solved by guessing, ensuring neutrality.

Other forms of proofs have been invented and incorporated into other solutions, such as the proof of stake in Ethereum and proof of elapsed time introduced by Intel.

Bitcoin and blockchain solved a very old digital currency problem that many other digital currencies tried to solve in the past known as the double spending problem. Double spending means spending the same digital currency twice, and Bitcoin solved this by ensuring distributed consensus.

Another cryptocurrency benefit that blockchain technology provides is that transfers can cross national boundaries in seconds, with minimum fees, and without going through third-party entities such as banks.

Read entire article here: https://www.forbes.com/sites/forbestechcouncil/2018/05/07/blockchain-as-an-application-platform/#e679c405576e

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JPMorgan $JPM National Bank of Canada $NA.ca others test debt issuance on #blockchain $SX $SX.ca $SXOOF $IDK.ca $AAO.ca

Posted by AGORACOM-JC at 10:24 AM on Friday, April 20th, 2018
  • The platform was built over more than a year using Quorum, a type of open-source blockchain that JPMorgan has developed inhouse.
  • Banks have poured millions of dollars to develop blockchain to streamline processes ranging from cross-border payments to securities settlement.
  • JPMorgan is considering spinning off Quorum because the technology has attracted significant outside interest.

Chris Ratcliffe | Bloomberg | Getty Images
Pedestrians cross a foot bridge towards the offices of global financial institutions, including JPMorgan Chase & Co. and the commercial office block No. 1 Canada Square, in the Canary Wharf financial, shopping and business district in London, U.K.

J. P. Morgan Chase & Co has tested a new blockchain platform for issuing financial instruments with the National Bank of Canada and other large firms, they said on Friday, seeking to streamline origination, settlement, interest rate payments and other processes.

The test on Wednesday mirrored the Canadian bank’s $150 million offering on the same day of a one-year floating-rate Yankee certificate of deposit, they said in a statement. The platform was built over more than a year using Quorum, a type of open-source blockchain that JPMorgan has developed inhouse and is in discussions to spin off.

Participants in the experiment included Goldman Sachs Asset Management, the fund management arm of Goldman Sachs Group Inc, Pfizer Inc and Legg Mason Inc’s Western Asset and other investors in the certificate of deposit.

Banks have poured millions of dollars to develop blockchain, the software first created to run cryptocurrency bitcoin, to streamline processes ranging from cross-border payments to securities settlement.

“Blockchain-related technologies have the potential to bring about major change in the financial services industry,” David Furlong, senior vice president of artificial intelligence, venture capital and blockchain at National Bank of Canada, said in a statement.

JPMorgan is considering spinning off Quorum because the technology has attracted significant outside interest, Umar Farooq, head of blockchain initiatives for JPMorgan’s corporate and investment bank said in an interview.

He said it was taking too much time to field requests for help from users at other companies.

Charging for assistance is not an option because software support is not the bank’s business, a person familiar with the matter said on condition of anonymity. The source was not authorized to discuss the matter publicly.

The spin-off discussions are in the early stages and the bank has received interest from financial institutions and large enterprise technology companies, Farooq added. He declined to name the companies.

JPMorgan plans to beef up the Quorum team with dozens of engineers from the bank’s other divisions who have become familiar with the technology, he said.

Blockchain is in the early stages of development in the financial industry, but JPMorgan is optimistic about its potential, Farooq said.

“We haven’t really seen a lot of really large scale things go into production yet. There are few cases where blockchain can really shine.”

Source: https://www.cnbc.com/2018/04/20/jpmorgan-national-bank-of-canada-others-test-debt-issuance-on-blockchain.html

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Posted by AGORACOM-JC at 11:34 AM on Monday, April 9th, 2018

  • Bermuda is placing the emphasis on quality over quantity when it comes to attracting business opportunities in the blockchain and digital currency sector
  • If it gets things right the advantages will likely include adding a new pillar to the economy that can generate revenue to help reduce the island’s $2.5 billion public debt, together with the creation of jobs, education opportunities

Scott Neil, Assistant Business Editor

Apr 9, 2018 at 8:00 am

Bermuda is placing the emphasis on quality over quantity when it comes to attracting business opportunities in the blockchain and digital currency sector.

If it gets things right the advantages will likely include adding a new pillar to the economy that can generate revenue to help reduce the island’s $2.5 billion public debt, together with the creation of jobs, education opportunities and increasing Bermuda’s reputation in global markets.

Those were points highlighted by Chris Garrod in a presentation on the topic to the Bermuda Chamber of Commerce.

Mr Garrod, who is a partner at Conyers, Dill & Pearman, is involved in the blockchain and insurtech space. He played a role in the Bermuda launch of blockchain-based tokens Unikrn and iCash during the past seven months. In addition, he is on both working groups that form the Government of Bermuda’s Blockchain Task Force, announced in November. The task force’s aim is to advance the development of blockchain technology in Bermuda.

Mr Garrod said Bermuda is seeking to be the world leader in blockchain, not merely the offshore blockchain leader. He acknowledged that there is stiff competition from the likes of Singapore, Switzerland, Gibraltar, British Virgin Islands and Cayman Islands.

He noted that Cayman has been “progressing the most” among competing jurisdictions, and said: “Most of the queries I am getting from clients are saying ‘We’re trying to decide between Bermuda and Cayman’. They like Bermuda because we have a new, young, tech-savvy Premier and a new government. They are Googling Bermuda to see if it is moving into this space.”

Mr Garrod believes blockchain will be the next internet, and said that will become apparent over time. Using an analogy, he said in terms of development blockchain is today at the same stage as the “dot-com era” of the internet, when the likes of the now defunct Netscape Navigator web browser ruled the roost.

He said with blockchain “there will be failures, like Netscape and Pets.com, but you will have survivors like eBay and Amazon”.

Mr Garrod explained there were financial and non-financial uses for blockchain. Describing non-financial uses of the technology, where no regulation is required, he mentioned a proposal to update land registry details on blockchain, an aim aired by David Burt, the Premier, during a discussion linked to the World Economic Forum in Davos, Switzerland, in January.

Other potential uses for non-financial blockchains are in the healthcare sector, where patient information could be speedily transferred and accessed between hospitals and institutions.

Mr Garrod pointed to the transport and shipping arena. He said Maersk, the world’s largest shipping company, has its own private blockchain allowing it to securely monitor movements of its cargo and goods. He also mentioned self-executing smart contracts, such as insurance policies that are automatically triggered when a specific circumstance occurs, such as a delayed flight resulting in a travel insurance payout.

In addition, Mr Garrod said: “Fifteen per cent of financial institutions are now using some form of blockchain.”

Financial uses of blockchain include utility tokens that are issued to fund a business and provide associated benefits, cryptocurrencies such as bitcoin and altcoin, which are bought as investments and are traded on exchanges, and security tokens that have attributes of both utility tokens and cryptocurrencies.

Mr Garrod said the next steps for Bermuda regarding its digital ledger technology and blockchain ambitions include amendments of the Companies Act, and the development of a code of conduct with anti-money laundering, and know-your-customer requirements. Further steps include the creation of a Virtual Currency Business Act.

Mr Garrod said: “Will our regulations be perfect to begin with? No. It is a fast-moving space.” However, he pointed out that Bermuda had successfully improved and streamlined its initial regulations for other sectors, such as insurance and reinsurance, in the past.

He added that the code of practice for the Virtual Currency Business Act, which is being finalised, will have stringent AML requirements, while the code of conduct for the ICO [initial coin offering] legislation is also in the works.

“The emphasis is still quality over quantity, which is what Bermuda has always tried to emphasise,” said Mr Garrod. “We have always taken that approach, whether it was our funds industry or our insurance industry, and that is going to be the same approach with this brand new industry — blockchain. We only want the best; the quality business.”

Source: http://mobile.royalgazette.com/international-business/article/20180409/blockchain-can-be-new-economic-pillar&template=mobileart

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