Microsoft to co-host the initiative with participation from over 60 blockchain companies on Capitol Hill
WASHINGTON, DC–(Marketwired – Jul 10, 2017) – The Chamber of Digital Commerce, the world’s largest trade association representing the blockchain industry, is hosting Congressional Blockchain Education Day this Tuesday. Chamber member companies will spend the day meeting with Members of U.S. Congress, Senators and their staffs to bring awareness to the importance of blockchain technology.
The day will also include a smart contracts briefing at 12:00pm in Rayburn House Office Building 2020 featuring a technology demonstration by Symbiont, the technology partner for the Delaware Blockchain Initiative.
Members of the Congressional Blockchain Caucus will address the national gathering of entrepreneurs at a cocktail reception in the U.S. Capitol Visitors Center Atrium at 5:00pm.
More at: Chamber of Digital Commerce To Host “Congressional Blockchain Education Day” on July 11th – MarketWired
Blockchain venture platform ConsenSys has announced a new initiative that has been formed with the objective of leveraging the power of Ethereum blockchain for those in need.
Called the Blockchain for Social Impact Coalition (BSIC), the initiative aims to incubate, develop, and implement blockchain solutions that are investable, scalable, and replicable, while solving social and environmental problems.
The inaugural meeting saw participation of over 30 representatives from 22 member organizations including EduDao, Disberse, High Tech Humanitarians, Logos Global Advisors, MIT Solve, New America: Future Property Rights, Nordic Impact, slavefreetrade, Sustainability International, the World Wildlife Fund, ALICE, and Tata Consultancy Services. They discussed existing pain points, foreseeable challenges in collaboration across sectors, and their vision of blockchain use cases in the humanitarian space.
The initiative will demonstrate blockchain potential to increase transparency, accountability, and efficiency in humanitarian organizations, and improve the lives of the individuals they aid. BSIC has identified four target areas as initial launch points:
- Identity & Vulnerable Peoples
- Energy & Environment
- Supply Chain
- Financial Inclusion
More at: ConsenSys announces Blockchain for Social Impact Coalition initiative – EconoTimes
The Ethereum ecosystem has not yet reached its full potential. Numerous issues have popped up in recent months which may be holding it back. These will need to be resolved soon for Etereum to really take off. Even Ethereum co-founder Vitalik Buterin acknowledges there are many issues which hinder the growth of Ethereum. Below are some of his views on the things that will need to be improved for the foreseeable future.
4. HOLDING LARGE AMOUNTS
It is interesting to see the public face of Ethereum acknowledge the project suffers from issues which make it difficult for most users to hold large amounts of Ether. Buterin feels there is a significant risk of theft, mainly due to third-party wallet service providers and exchanges. There is also the chance of users losing their private keys. These are not issues unique to Ethereum, but it is something any ETH users should be aware of.
More at: Top 4 Ethereum Criticisms Which Need to be Addressed – The Merkle
Now that EOS’ ICO is behind us, let’s take a look at the technology powering this project. The developers are putting a strong focus on asynchronous smart contracts (ASCs). This is similar to Ethereum, but it appears EOS will be far more efficient. How does it all work? What benefits does it provide?
ASYNCHRONOUS SMART CONTRACTS EXPLAINED
Whenever someone talks about smart contracts, Ethereum is inevitably brought up. Ethereum is immensely popular because of their implementation of smart contracts. However EOS is approaching this differently with asynchronous smart contracts (ASCs). ASCs are something else entirely. Blockchain technology relies on sequential transaction processing, which causes delays and can render the technology inefficient.
The throughput of a blockchain using sequential processing of transactions is limited to the computational capacity of a single CPU core. Using CPUs with more powerful cores can address some concerns, but it is not a long-term solution. Instead, we need to pursue concepts which allow for horizontal scaling, rather than vertical scaling. This is much easier said than done, but ASCs present an interesting opportunity to achieve it.
The EOS project aims enable a blockchain to process millions of transactions per second. This is an ambitious goal, and its feasibility has yet to be demonstrated. Most of the details regarding ASCs are shrouded in mystery, which makes it difficult to assess its viability. Not sharing the details with the public is a strange decision, and somewhat frustrating to those of us who want to understand ASCs better. However, this project seems to be in good hands. Dan Larimer is its CTO, who also helped develop Steemit and BitShares.
The goal of ASCs is to cut transactions into bite-sized pieces. In theory, this will allow the underlying blockchain to process a high amount of transactions at the same time, while still being able to serve other network commands. For example, the technology allows for transaction processing and Dapp execution at the same time without creating a “queue” on the blockchain. All of this remains theoretical since there are no real-world demonstrations of ASC handling these different commands concurrently.
More at: What is the EOS Asynchronous Smart Contract Platform? – The Merkle
Once you are part of the hype train with its wagons filled with: Ethereum, Blockchain, Technology, Bitcoin, Ico, Token, Price, market and other similar terms.. you will never go back.
All day you will be surrounded by debates of Want-to-be Traders/investors that are trying to get a small or big short-term success out of it, news of regulations done by Governments and so on and so forth.
As of right now, what keeps the crowd on the buzz are ICO-s (Initial Coin Offering) and how much they gather per/offering day. With Ethereum allowing to create your own token or the representation of a value – the so called “ERC20 TOKEN Standard” was created. A standardization of the token creation process.
A lot of them with promising technology, some with never-seen-before team supporting it are gathering millions in a couple of hours or days where you can offer a well known digital currency like lets say Bitcoin or Ethereum in exchange for a token of one sort. It is a show from the first-seat-row.
- From my stand point what makes people so hyped about ICO tokens, is that without any permission you can “invest” in any company/venture in any part of the world, and the Mind-Set supporting it:
“It is something different compared to what everybody else is doing – Early adopter – look at the technology and what it does – it is gonna blow up like Ethereum did”
The No Purpose Coins
What is interesting and that makes me love it: people making use of the hype train Creating Tokens that DO NOT DO ANYTHING at all and are still raising crowdfunds to support it. Joke Tokens.
More at: Coins Making Fun Of the Hype – No Purpose Coins – Ethereum World News
The healthcare industry has to cope with various problems regarding the security and the privacy of valuable data. In the recent years, hospitals were serving as the major target for cybercriminals who conducted ransomware attacks on the institutions.
In April, both U.S. and Canadian cyber security agencies – the Computer Emergency Readiness Team and the Canadian Cyber Incident Response Center – issued warnings to healthcare providers regarding the increased number of ransomware attacks. This is the point when blockchain tech comes in.
Many of the aspects of the blockchain technology, including speed, cost efficiency, and security, makes it a great choice to integrate it into the healthcare industry.
IBM Watson Health announced in January that they are cooperating with the US Food and Drug Administration (FDA) in order to research blockchain tech applications towards the exchange of data in the industry. The tech giant set an expected date for the completion of the project, early 2019, with the initial findings of the research revealed this year.
In addition to problems regarding security and the privacy, there are also issues reported with the efficiency of information sharing in the healthcare industry. IBM believes blockchain tech will provide solutions for both of the issues with fast, efficient transactions and excellent security.
“The collaboration will also address new ways to leverage the large volumes of diverse data in today’s biomedical and healthcare industries. A secure owner-mediated data sharing ecosystem could potentially hold the promise of new discoveries and improved public health,” IBM wrote in their press release.
More at: The Healthcare Industry Turns to Blockchain Tech for Security – CryptoCoinsNews
Digital currencies such as bitcoin and ethereum are assets, but bitcoin in itself does not carry the characteristics needed to be defined as a currency that could meet new economic development requirements, an adviser to the People’s Bank of China (PBoC) said recently, Reuters reported.
In an interview with financial magazine Yicai, PBoC adviser Sheng Songcheng stated:
“Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms…But I do not deny that virtual currencies have technical value and are a type of asset.”
More at: Bitcoin does not have fundamental attributes needed to be a currency, says PBoC adviser – EconoTimes