There is a new type of block party in Brooklyn and it is all about blockchain technology. Blockchain tech startups are sprouting up throughout Brooklyn, especially in the neighborhood of Bushwick.
House Bill 1379 recently passed in Florida, which defines virtual currency and prohibits its use in laundering criminal proceeds. The bill adds the term “virtual currency” to the definition of “monetary instruments” under Florida’s Money Laundering Act. The legislation is currently in the hands of the State’s Governor and is expected to be signed soon.
The Act defines digital currency as a “medium of exchange in electronic or digital format that is not a coin or currency of the United States or any other country.” Previously, the Act only applied money laundering to legacy financial transactions of various types, including bank deposits, investments, and wire transfers.
The resulting outcome is that criminals using cryptocurrencies will be charged with money laundering as well as the underlying crimimal activity. “Cyber criminals have taken advantage of our antiquated laws for too long,” claimed Democratic House Representative Jose Felix Diaz, a sponsor of the bill.
“Bitcoin bypasses the traditional banking system, and our state’s laws simply had not caught up to the upsurge in criminality in the world of cybercurrency.” – Florida Representative Jose Felix Diaz
The Bitcoin ecosystem is thriving as the decentralized network continues to break new records in 2017. This month the Bitcoin network’s hashrate surpassed over four exahash per second adding one more milestone to the record books.
Bitcoin’s Hashrate Crosses Four Exahash
The bitcoin mining environment has grown massive with many participants and pools competing to process transactions so they can earn fresh new bitcoins. The mining process has evolved from individuals mining on their computers at home to mega-sized data facilities located all around the world filled with thousands of machines.
Over the past year and four months, bitcoin’s hashrate has entered the exahash era as the network processed one exahash per second in January of 2016. Now the miners’ collective hashrate is over four exahash per second or 4,216,797,036 GH/s, surpassing the most powerful supercomputers in the world.Source: Bitcoin Network Hashrate Surpasses Four Exahash Per Second – Nigeria Today
The Marines are planning to take their do-it-yourself ethos further and begin prototyping, manufacturing and deploying full-blown 3D printed systems, such as surveillance drones.
The Marines were the first service to 3D print military-grade ammunition and spare parts for weapon systems.
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There is one lingering concern in military 3D printing: Protecting sensitive data from hackers and malware. How the military would bring cyber security into digital manufacturing so far has stirred “a lot of discussion but not a lot of action,” Marrotto said. The issue is how to protect a system’s “digital thread,” the term used in the industry for data associated with each product throughout the manufacturing lifecycle.
The Pentagon has not yet addressed this issue. Industry experts suggest the military could take a page from the Bitcoin currency world and create so-called “Blockchain” networks to ensure the integrity of the data. A Blockchain doesn’t stop cyberattacks but gives users tools to audit data for unauthorized changes.
The University of Surrey is working on three EPSRC funded blockchain projects, out of which one deals with the personalized healthcare treatments.
The use of blockchain technology in the healthcare sector is one of the most discussed subjects. Various healthcare providers, pharma industry, and even healthcare technology solutions providers are involved in the research and development of distributed ledger applications to make it a reality. The University of Surrey has joined the list of academic institutions and commercial businesses that are active in the sector by announcing its planned blockchain project for personalized healthcare treatments.
The University of Surrey project, set to begin next month is being funded by the Engineering and Physical Sciences Research Council (EPSRC) as a part of its Distributed Ledger Technology initiative. The project titled Co-operative Models for Evidence-based Healthcare Redistribution is one of the three winning bids from the university, and it has received over $540000 (GBP 420000) towards the development and implementation of the model.
The groundbreaking project is said to combine data collected from wearables using blockchain and machine learning algorithms for secure storage and dissemination to public and private healthcare providers, helping them design “targeted patterns” of treatments.
With SegWit set to activate on Litecoin – a proposed second layer for bitcoin to enable micro-transactions – in the coming weeks, Lightning Network developers are celebrating the implications for their lnd Litecoin implementation.
Lighting, which seeks to support bidirectional payment channels, announced the support for Litecoin’s new testnet with ‘lnd’, which was easy to develop once ltcd had been built out. Developers continue to “review the additional software infrastructure we built to make the shift possible, and provide a brief peek into a Lightning Network that spans multiple blockchains.”
They add on the Lightning Community site: “The activation of SegWit on Litecoin will serve as a proving and hardening ground for the Lightning Network until segwit activates on Bitcoin’s mainnet. And as Litecoin is very similar to Bitcoin, we can redirect our pre-production development efforts to Litecoin’s testnet without loss of generality for our ultimate launch on Bitcoin’s mainnet.”
Lightning developers, with Litecoin developers, forked btcd (a Bitcoin implementation written in coding language ‘Go’) and created ltcd (Litecoin implementation in ‘Go’) to be used on a Litecoin testnet network using the software infrastructure and libraries developed in btcsuite on Github. The most recent addition to the code’s repository was three hours prior to this post’s writing.
THE NEXT GENERATION OF HEALTH IT
Have you heard of the Mayo Clinic hKash token or the Memorial Sloan Kettering Cancer Center gzHealth token? The contents of your wallet are about to change.
You’ll soon be able to buy and sell health data with tokens, similar to how you’re issued drink tickets at a comedy club. The first step in understanding why tokens will be important to the future of health is differentiating an IPO (initial public offering) from an ICO (initial coin offering), which we’ll discuss here.