Bitfury Will Seek to Create Blockchain Projects in Kazakhstan

Maria Rodríguez
-
0
Bitfury Will Seek to Create Blockchain Projects in Kazakhstan

The projects that Bitfury expects to develop are directly related to the development of programs with green energy, training of national personnel, and growth support for technology companies

In a recent press report from a news agency in Kazakhstan, it was announced that the company dedicated to creating blockchain solutions and tools, Bitfury, has partnered with the Astana International Financial Center (AIFC), this in order to jointly develop some projects related to blockchain technology in the Asian country.

The news was revealed last Friday, May 17th, during the Astana Economic Forum (AEF), an annual business highlight of Eurasia that this year seeks to promote new ways of development and growth for the economy of the region, as well as improving the use of new technologies for the society, and personal and economic uses.

The company’s central interest in the region comes from its confidence in opening up to new financial markets, which seek to boost their own development from complete investment and strengthening mechanisms, in addition to a deep appeal to strengthen its management in the sector of interests and consumer rights.

Bitfury is one of the largest companies dedicated to developing and researching blockchain technology. It becomes a pioneer in the creation of infrastructure, services related to blockchain, cryptocurrencies and their platforms, as well as mobile data centers with personal characteristics, among other developments.

Among the different benefits that will bring the alliance between Bitfury and AIFC it will be the establishment of different data centers in the capital Astana. The idea is to create a better working environment among its citizens, as well as collaborate with the correct administration of resources in the city.

The company is interested in training human capital in the country, in order to prepare them to handle blockchain technology. This is the reason why education and preparation programs will be launched together with an assistant department of the Office for Continuing Professional Development of the AIFC. This responds to an inclusive policy that Bitfury has to promote knowledge, demonstrating a strong interest in improving education in the countries where the company opens up.

According to the Head of Kazakhstan for the Bitfury Group, Timur Bairov, sharing knowledge about the blockchain technology that runs his company, is part of his business seal, as has been done previously in countries where Bitfury has taken place, such as Ukraine and Georgia. “We believe we can help build a brighter future for the people of Kazakhstan by introducing blockchain technology in many sectors”.

It is important to add that there are other emerging companies related to technology and communications that will benefit from the collaboration and effort that Bitfury will have throughout Central Asia as well as a close relationship with the AIFC.

TheAstana Economic Forum not only seeks to promote collaboration with foreign companies, but also projected the joint growth of national companies with support of new global technology.

“We are honored to work in Kazakhstan in collaboration with the AIFC. We are encouraged by their enthusiasm for more transparent systems, as well as their commitment to participate in a growing global economy driven by blockchain technology. We look forward to serving the citizens of Kazakhstan and the region in these efforts”, commented Valery Vavilov, CEO and Founder of Bitfury Group,during his speech at the Forum.

Bitfury has great plans for the development of social projects, the preservation of the environment and energy improvement that would imply the direct use of sustainable technology supported by blockchain technology, which promises to change the current everyday life.

By María Rodríguez

Fedex Executives Say they Are Not Completely Prepared for Final Adoption of Blockchain

Maria Rodríguez
-
0
Fedex Executives Say they Are Not Completely Prepared for Final Adoption of Blockchain

FedEx workers comment that although this technology improves they processes, it is still too young for its definitive adoption

In a recent report published by the Commercial Appeal news agency, an executive of the multinational company of shipments and parcels, FedEx, said that at the moment it is not entirely convinced in the implementation of blockchain technology in the company. Some representatives expressed that other shipping companies should ally to sustain the use of this technology.

During a recent interview, Dale Chrystie, Executive in charge of the implementation of the technology in the company, commented that blockchain does not have a machine capable of selling the product for its implementation and that it is adrift only for someone who has to invest in discovering it and not in acquiring it. This, according to Chrystie, represents expenses and time that not every company is willing to accept for a technology that has yet to be developed. The executive says: “To exploit the bubble, it is not our only database, it is not our best database, currently it is not very fast or very scalable and it is not very mature, right?”.

After the statements of Chrystie, FedEx Information Director, Rob Carter, said that point of view is completely true and supports his words remembering that, last April, he assured that in order to take advantage of all the potential offered by blockchain, tests and meetings to reach a consensus with his colleagues on how the process should be started, should be conducted. However, he affirmed that this technology has great potential for the company. “This technology is still in its infancy, but it has immense potential to transform cross-border trade by reducing friction and increasing integrity in the way things move around the world”.

The Use of Blockchain ​​in FedEx

With respect to the function of blockchain technology in the company, Chrystie assures that it could revolutionize the industry, especially in the logistics processes, if an important consensus is reached with all the supply chains. This happens since all the parties do not seem to be very close to ensure their optimal functioning.

Despite these disadvantages, executives argue that the use of blockchain technology in the shipping and delivery service has proved to be a great help. One example is that FedEx has improved the accuracy and authenticity of item shipments, even though a number of channels are needed for the process. Blockchain also shows the correct shipment, showing the channels used for the trajectory. This allows tracing the places where the article has been. Even with all these benefits, executives say blockchain is not of great value if it is not implemented on a large scale, because the platform would lose coherence and meaning in the investment. “Yes, everyone wants to monetize this technology, but we will all have to work together to build it. That’s why I refer to blockchain as a team sport. Once it is built, many people will be able to find a business model for it. At this time, it is not built”.

In this regard, the important US shipping company FedEx is also looking for discovering an innovative leadership that is precisely adapting to the technological development of technology. For this reason, the company indicates important alliances with other shipping companies such as UPS, Google and Target to form a team that helps improve their processes using these new technologies.

By María Rodríguez

Bahamas Securities Regulator Proposes Regulations for the Sale of Tokens

Maria Rodríguez
-
0
Bahamas Securities Regulator Proposes Regulations for the Sale of Tokens

Part of the procedure established in the bill is to inform both authorities and investors about all the details of a sale token. In addition, it is sought to avoid that the information provided is false

The Bahamas’ Securities Regulator recently issued a report in which it notified that its new bill will include regulations for the sale of tokens or Initial Coin Offering (ICOs) in the territory.

According to the Securities Commission of the country, the regulations that the government body proposes indicate the necessary procedures to carry out the sales of tokens, from the registration through the pertinent organizations, to the stages subsequent to the sale.

In this regard, the Securities Commission of Bahamas presented a draft of the new law where it regulates the tokens or offers that are not considered as valuables. Part of the procedure established by the bill is the registration of the offers and inform both authorities and investors about the details of a sale token.

Before this law is enacted, the public consultation process that began on March 27th and will continue until May 28th has been a success, according to the Executive Director of the Securities Commission, Christina Rolle. Soon, probably for the autumn of this 2019, the bill will pass to instances such as the National Parliament for possible final approval.

“At the end of 2017 we started to have a lot of interest in registering tokens. When we observe events around the world, we consider that we should establish a new regulatory framework”, said Rolle.

Multiple Benefits

Regulators expect to see positive results if the bill is implemented, especially since it will affect both tokens promoters, including service providers (such as digital portfolios or exchanges), as well as any other entity or individual involved in the sale.

Additionally, the regulations urge partners in the process to publish a memorandum of understanding, which includes the specifications to consider, fundraising campaigns and any changes made in the process.

One of the last sections of the law emphasizes that those who fail to comply with the provisions must pay a fine of $ 500,000 or five years in prison, depending on the seriousness and the particularities of the case. If file issuers provide misleading information in their registration documents, they risk receiving up to ten years in prison.

This measure, which is already under development, is part of the initial plan of The Bahamas looking to position itself internationally as a favorable territory for the development of new technologies in the decentralized sector and a friendly country with blockchain technology.

Curiously, other island nations have recently introduced different bills with the aim of attracting investors and developing crypto-projects. Malta, which is recognized as the “blockchain island”, will have the first record of companies based on blockchain technology. In April, the Malta’s Financial Services Authority (MFSA) granted licenses to 14 companies to promote the growth of the cryptocurrency sector.

In Bermuda, a new law allows projects to conduct the Initial Coin Offering (ICOs) to request their rapid approval, whilst in Gibraltar, a new legislation that allows the issuance and negotiation of tokens is underway.

By María Rodríguez

Circle’s CEO Argues that the Crypto-space Needs “Normative Certainty”

Maria Rodríguez
-
0
Circle’s CEO Argues that the Crypto-space Needs “Normative Certainty”

Circle and the European Central Bank consider that cryptoactives need regulation

In September 2017, JP Morgan’s CEO, Jaime Dimon, said that cryptocurrencies were a fraud. A year and a half later, JP Morgan launched its own cryptocurrency, JPM Coin, the second dollar-backed cryptocurrency of a major bank. The adoption of blockchain and cryptoactives keeps its course, but, for that reason, some analysts believe that this market should be regulated.

New things, sometimes, comes from surprise and fulfills a purpose that then changes. In 2009, Bitcoin came with the attraction of being a decentralized digital currency but now the European Central Bank (ECB) and other entities consider essential the presence of an organization that guarantees the security of cryptocurrency investments.

One of the executives who has this opinion is the General Manager of the crypto-finance company Circle, Jeremy Allaire, who commented that the crypto-space needs a “regulatory certainty” and believes that the current definition of cryptocurrency is “too broad”, so that it should be studied, he said recently by means of a blog post.

Allaire’s statement comes after the Poloniex crypto-exchange company, which is owned by Circle Internet Financial. It says it will make decisions due to lack of regulation for that sector in The United States. The Exchange performed a “geo-permeation” of nine different currencies for customers located in the United States, ceasing to offer Ardor (ARDR), Bytecoin (BCN), Decred (DCR), GameCredits (GAME), Gas (GAS) ), Lisk (LSK), Nxt (NXT), Omni Layer (OMNI) and Augur (REP) for customers in The United States.

Some Consider Cryptos as Values,

Others do not

In its publication, Allaire affirmed that digital assets represent a new class of financial instruments, but he commented that they should not be considered commodities or currencies. In contrast, The U.S. Securities and Exchange Commission (SEC) will develop a guide about cryptocurrencies and will consider them as values.

To explain its point of view, Allaire argued that current laws cannot guide the particularities of cryptocurrencies because they were enacted with the characteristics of fiat money in mind.

The official said: “We urge legislators to recognize the economic power that innovation has unleashed and to act so that cryptocurrency and blockchain technologies flourish. We know that legislators want to support economic growth and we want them to take the opportunity to lead the charge”.

In an opposite position is the Law of Token Taxonomy, which seeks to prevent digital currencies from being defined as values. This law will create a minimis tax exemption for crypto-transactions of less than USD 600, according to Coin Center’s CEO, Jerry Brito.

Brito added that, according to current laws, users are technically “obligated” to report capital gains when they use cryptocurrencies to buy simple objects such as a laptop, airline tickets or even when they are going to write a smart contract.

A few days ago, the Internal Revenue Service (IRS) of The US gave priority to issue fiscal guidance for cryptocurrencies. The instruction will specifically cover topics such as acceptable methods for the calculation of cost base, cost basis assignment, and the fiscal treatment of bifurcations.

Malta is one of the example states in crypto adoption. The country has developed a comprehensive framework to regulate the crypto world, and it is being preparing to regulate artificial intelligence (AI).

Other European countries, such as France, are working to follow the path of Malta through the European Securities and Markets Authority (ESMA). This effort involves more and more countries, interested in converting cryptocurrencies into legal, safe and reliable payment methods.

By María Rodríguez

Honda and GM Will Research Blockchain ​​Potential in Smart Grid and Electric Cars

Maria Rodríguez
-
0
Honda and GM Will Research Blockchain ​​Potential in Smart Grid and Electric Cars

The alliance is part of a project related to the framework of MOBI. The companies hope to begin investigations later this month

Through a press release published by the Japanese news agency, Nikkei Asian Review, the car manufacturing companies, Honda and General Motor (GM), have made an alliance to conduct research about smart grids and the internal operability in electric vehicles using blockchain technology.

The research project is being programmed as part of the so-called framework of the International Automotive Consortium, information technologies and other companies. Mobility Open Blockchain Initiative (MOBI) is made up of more than 30 members from different areas related to the points to be dealt during the entire project framework.

The members are promoting the sustained development of blockchain technology in the automotive industry. These members include recognized companies such as IBM, Hiperledger, IOTA, Bosch, among others.

It was a big surprise that the Japanese car company, Honda, joined the project since last April, becoming the first Asian automotive company in the team. The research is expected to start later this month and more partners will join the project.

The research will seek to facilitate and improve the processes that help develop ways to recover information during the stabilization phases of the energy supply, as well as to determine if electric cars can be used in smart grids in order to stabilize energy recovery. These investigations will help strengthen the advantages of the next generation of smart vehicles.

The central idea of ​​improving the energy supply is to allow users to earn scores, which can later be traded in the network for improvements in some rates, for storing or decreasing the energy flow in the battery of the user’s vehicle, converting, this way, the car in an alternate source of income for the user.

Researchers not only seek to provide their users with electric vehicles and the possibility of having extra income for storing energy, but also, they will be able to solve certain storage problems of the batteries that are currently used in electric cars, since most of they use renewable energy such as solar or wind energy, which are frequently turn out to be unstable and inaccurate.

GM Betting for Blockchain ​​Technology

It is not the first time that the General Motor automobile company embarks on the development of blockchain technology to conduct its processes. Last April, as part of the framework of the MOBI, GM and BMW were collaborating to bring to reality an alternative to exchange information of their autonomous vehicles using blockchain as a means of service.

In the same vein, last February it was announced that the company made an alliance with the startup Spring Labs, which is specialized in blockchain solutions, so that an identity verification system could be developed to improve the security of all its data. The development in the automotive area continues surprising thanks to blockchain technology and new alliances of this nature. The path of this platform has just begun.

By María Rodríguez

Craig Wright Files US Copyright Registrations for Bitcoin’s Whitepaper

Andres Chavez
-
0
Craig Wright Files US Copyright Registrations for Bitcoin’s Whitepaper

For years, the real identity of Satoshi Nakamoto has been a controversial subject. A handful of people have attributed the pseudonym, which is tightly associated with the birth of cryptocurrencies and, most specifically, Bitcoin. Dave Kleiman and Craig Wright are recognized within the industry as the two most important people behind BTC, but a sizable portion of the field still has its doubts.

In a development that took place in recent hours, Wright filed United States (US) copyright registrations for the whitepaper that explains the technology, modus operandi, and other details about Bitcoin. The document is purportedly authored by Satoshi Nakamoto.

The Struggle to Cement his Place as Satoshi Nakamoto

According to documents from the court, the US Copyright Office has registrations of the white paper and Wright’s name is shown as the author. In the paper, the majority of the code implemented to build the world’s biggest and most prominent cryptocurrency is shown.

Amid doubts from relevant sectors of the industry, Wright, an Australian businessman and computer scientist, has claimed to have written the paper for a long time, under the Satoshi Nakamoto pseudonym. The first time that Wright claimed to be behind the nickname was 2016.

Now, after a press release that confirmed the information, American officials received confirmation that Wright is actually behind the pseudonym, but that development has not escaped questioning and skepticism in a field that seems to need quite the proof package for it to fully believe that someone is Satoshi Nakamoto.

After all, having one’s name officially associated to the creation and rise to prominence of Bitcoin, arguably the most important crypto asset of all, would be consagratory, to say the least.

Criticism Has Already Started

For instance, the Executive Director of Coin Center, a well known non-profit organization, expressed via Twitter that “registering a copyright is just filing a form. The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them.”

The news piece reads that the reason behind Wright’s attempts to establish himself as the person behind the birth of Bitcoin is because he has been “dismayed to see his original Bitcoin design bastardized by protocol developer groups.”

A Little Bit More about Craig Wright

Wright’s plans, allegedly, are to assign the copyright registrations to the Bitcoin Association. Wright, born in October 1970, in Australia and the owner of a successful career in information technology, is currently the Chief Scientist at nChain, a startup.

He is also one of the masterminds behind Bitcoin SV, a blockchain with an associated cryptocurrency that appeared last year, in mid-November, after a Bitcoin Cash (BCH) hard fork that resulted in a split, with Bitcoin ABC being the other entity. Wright is not a stranger to controversy, and this piece of news will further back up that theory.

By Andres Chavez

1...1,5401,5411,542...1,654Page 1,541 of 1,654