IBM is working on a new blockchain project for smart contract creation. The Wall Street Journal reports the company’s research arm is using the basic bitcoin codebase to create a new blockchain system that will eventually be released as open-source software. IBM said that “dozens” of employees are involved in the initiative, and that the project is distinct from ADEPT, a proof-of-concept for the Internet of Things unveiled earlier this year. The Journal spoke with IBM research senior vice president Arvind Krishna, who told the newspaper that the company’s blockchain system won’t have an internal currency and will be designed to “ensure that contract details remain private” while making it easier for companies to “embed business…
The Scaling Bitcoin workshop held in Montreal, Canada from September 12-13 aimed to discuss several issues currently affecting the industry. One of the biggest topics on the table was that of the block size limit, which could be addressed through scalability. Among the presentations made during the bitcoin conference was on the scalability of non-currency applications, discussed by Harry Kalodner of Princeton’s Security and Privacy Research Group and assistant professor of computer science at Princeton Arvind Narayanan. Scaling Solutions for Bitcoin As it is, the bitcoin network has been subjected to a hard fork, with some developers favoring the Bitcoin XT software that allows a shift from a 1MB to 8MB maximum block size. Others, however, thought it best…
BitNation, which is a collaborative platform for do-it-yourself governance, just launched an emergency response program using blockchain tech to aid refugees. Currently, thousands of refugees are fleeing Syria and nearby countries due to the ongoing turmoil. Several governments, including that of Britain and Australia, have pledged to accept and resettle several refugees. Roughly 400,000 refugees have arrived in Europe so far this year and many more are expected to come within the next months. BitNation Refugee Emergency Response (BRER) According to its website, the BRER is a humanitarian aid project of BitNation to facilitate and provide emergency services and humanitarian aid to refugees during the European Refugee Crisis of September 2015. But while some…
If the first day of Scaling Bitcoin focused on fostering constructive dialogue, day two moved the conversation toward defining how that dialogue would proceed following the event and how such discussion could coalesce into a clearer vision for the open-source technology’s future. Topics of discussion at the event still focused most directly on the larger question of how the bitcoin network could support increased transaction levels. However, these presentations were buoyed by musings on the trade-offs that will need to be weighed should the community want to honor the project’s original democratizing vision. For example, some of the day’s talks occasionally provided a broad, analytical look at current proposals, delving into the theoretical…
Bob Wigley, the former chairman of Merrill Lynch Europe, Middle East and Africa, has confirmed joining Blockchain, a UK-based Bitcoin wallet company, as an advisor. In a journal published on the Blockchain’s blog, the financial veteran admitted being drawn towards Bitcoin from a very long time. He further recognized the digital currency technology as something that actually defines the true meaning of FinTech, and stated: “FinTech means using the internet and constantly developing internet access devices, combined with their now pervasive penetration amongst consumers, to create more convenient and less expensive ways to undertake financial transactions.” Bitcoin was launched in 2008 by a pseudonymous developer, known by the alias of Satoshi Nakamoto, as a mean…
What Is The Difference Between Bitcoin, FOREX & Gold? ‘A Tripod Theory’ [Revised] Written By: Patrick “PK” McDonnell As Bitcoin and it’s counterparties known as “altcoins” enter the mainstream many investors are seeking information on the mechanics of trading these revolutionary peer-to-peer niche oriented decentralized global cryptocurrencies. Bitcoin, forex and gold have many similar yet distinct differences that make each a unique and viable investment vehicle. Bitcoin is a “hybrid” of both forex and gold structured to trade like a stock with stop loss protections and profit objective orders which help preserve capital and ensure profits through forex like market volatility. Bitcoin like gold is viewed by some as a viable long-term storage of…