“Blockchain is a Natural Technology for Banks” - Yahoo Co-Founder Jerry Yang
Jerry Yang, Co-Founder of Yahoo!, has revealed that he believes blockchain holds significant importance if applied to traditional banking and finance.
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Yahoo! Co-Founder and experienced entrepreneur, Jerry Yang, has announced that he believes blockchain has some serious potential when it comes to the world of banking and finance.
Giving his thoughts on a panel at the Nikkei Innovation Asia Forum, titled "Rising Tides of Innovation in Asia" taking place in Japan, Yang explained how the adoption of blockchain was at a "critical juncture". First reported by Finews Asia, Yang went on to explain that:
"...as the hype surrounding blockchain and cryptocurrencies is falling away, and while it remains to be seen if it survives this post-hype phase, blockchain technology has important applications to banking and...
Andreessen Horowitz and PayPal Co-Founder Backed Crypto Custodian Launches
The Anchorage cryptocurrency custodian for institutional investors launched following a $17 million funding round led by venture fund Andreessen Horowitz, a press release states Wednesday, Jan. 23.
According to the announcement, PayPal co-founder Max Levchin’s SciFi VC, venture company Khosla Ventures, Mark McCombe of investment firm Blackrock, and others also took part in the series A funding round.
The developers claim they intended to make a custodian that would be more secure than cold storage in order to better support institutional investments, along with enabling active on-chain participation.
Anchorage claims to be based on the principles of easy access to assets, voting, auditing proof of existence, and quick transactions. Anchorage believes that large scale investments in digital assets, such as those from institutional players, will bring new growth...
Educating the Next Wave of Bitcoin & Blockchain Developers
Hyperbitcoinization enthusiast and writer
Educating the Next Wave of Bitcoin Developers
Bitcoin is an open-source protocol that anybody can interact with. It is getting attention and attracting participation in different ways, whether it is through speculation, investing and sending money, all the way to contributing to what’s underneath the hood. The entire Bitcoin repository is on GitHub, inviting any developer to see the protocol’s code and perhaps contribute toward solving existing problems if they can.
A noteworthy fact, however, is that the pool of developers today is quite small.
“It's not an easy field to get into,” Jimmy Song, author of Programming Bitcoin and instructor at Programming Blockchain, told Bitcoin Magazine. “Interestingly enough, the thing that makes Bitcoin hard to get started on is the cryptography, and that's hard because the math is not familiar to developers. Specifically, finite fields and elliptic curves.”
Some would argue, though, that the small number of developers in Bitcoin today is not too small. In fact, it’s perfectly fine at the size it is for such a new industry.
“Bitcoin has only been around for 10 years, and it only started getting a lot of mainstream attention in 2017, so it hasn't been a long time to build up an ecosystem of developers,” said John Newbery, a Bitcoin Core developer and Bitcoin engineer at Chaincode Labs.
“It’s something that we hear a lot, that it is difficult to find experienced Bitcoin engineers … [Bitcoin] really only started getting mainstream attention two or three years ago, so it’s as expected. We’re doing everything we can at Chaincode to widen and deepen that pool.”
Even outside of developer knowledge, there are many aspects of various fields of expertise that require a significant level of understanding in order to grasp Bitcoin all around. Since there are so many paths that need to be explored, the question is: Where do you start?
It is important to be realistic and realize that a complete understanding of the digital currency will always be unreachable.
“I don't think it's possible to understand all aspects of Bitcoin,” Newbery said. “The frontiers...
2020 Presidential candidate Tulsi Gabbard invests in cryptocurrency
US Congresswoman Tulsi Gabbard of Hawaii is running for president of the United States in 2020. In December 2017, Gabbard bought Litecoin and Ether at the height of the crypto bull market, according to federal filings.
“I have decided to run and will be making a formal announcement within the next week,” Gabbard tells CNN on Jan. 12 (see video below).
“There are a lot of challenges that are facing the American people…that I want to help solve.”
Gabbard: US Must Stay out of Mideast Wars
Gabbard says her main concern is to make sure that the US does not continue to intervene in ongoing conflicts in the Middle East.
Her other priorities include climate change, health care, and criminal justice reform.
There is one main issue that is central to the rest, and that is the issue of war and peace.
Gabbard, 37, is a fresh, energetic face on the American political scene. However, her chances of winning the Democrat Party’s nomination are slim, given the huge field of candidates.
For example, Senator Elizabeth Warren of Massachusetts is also running for president. Warren is a crypto critic who says the virtual currency market is full of scam artists.
Gabbard Bought Crypto at Height of Market
As CCN reported, Tulsi Gabbard bought $1,001 to $15,000 of Ether and Litecoin in December 2017. At the time, the bitcoin price soared to a record high of $19,500.
It’s unclear how much crypto Gabbard currently holds. However, it’s likely...
Ethereum developers have postpone Constantinople hard fork, crypto price impacted
The core developers of Ethereum have called for a delay to the activation of Constantinople, just hours before the long-awaited hard fork was scheduled to go live on the third-largest cryptocurrency’s network.
Ethereum Hard Fork Delayed
In a statement, the Ethereum Core Developers and Ethereum Security Community said that they decided to postpone the hard fork after security researchers identified a potential vulnerability in one of the software upgrades.
“Security researchers like ChainSecurity and TrailOfBits ran (and are still running) analysis across the entire blockchain. They did not find any cases of this vulnerability in the wild. However, there is still a non-zero risk that some contracts could be affected,” the statement read.
Because the risk is non-zero and the amount of time required to determine the risk with confidence is longer the amount of time available before the planned Constantinople upgrade, a decision was reached to postpone the fork out of an abundance of caution.
According to the statement, that potential vulnerability stemmed from EIP-1283, which introduces a cheaper gas cost for SSTORE operations. Researchers believe that it’s possible that had EIP-1283 been activated, certain smart contracts that are already running on Ethereum could have become vulnerable to reentrancy attacks.
ChainSecurity has published a more thorough explanation...
A New Kind of Crypto Exchange LIQNET.COM
LIQNET.COM is quite different to any exchange you have seen before. Using its own LEN mechanism, the Singapore-based project pools orders from other platforms into one single interface and allows users to trade at the best prices and minimum spread. Why is liquidity important for an exchange?
According to the Blockchain Transparency Institute (BTI), more than 80% of the volume exchanges show is faked. Besides raising concerns about the transparency and business practices of current trading platforms, this underlines a fundamental problem of insufficient liquidity in a bear market. During abrupt market movements, crypto is famous for, low liquidity basically means that you will not be able to buy or sell a significant amount of coins and miss out on profits or even lose money. If you aim to sell a large amount of coins, doing this without toppling the price can be problematic. LIQNET with its liquidity aggregation may be an answer to the problem that has been plaguing the market for some time now.
Сalling LIQNET an exchange would be inaccurate, rather, it is an exchange aggregator. LIQNET uses public APIs of other crypto exchanges to collect purchase and sale bids into a single order book. This allows users to get the benefit of trading on several exchanges, eliminating...
Cardano ADA jumps 5% as crypto attention grows
Cardano’s recent run of good fortune continued on Friday, as the multi-asset chain protocol emerged as one of the market’s top performers. The public blockchain project has been riding a wave of positive momentum thanks to an active developer community and optimism concerning the evolution of Internet 3.0.
ADA Approaches Two-Week High
The value of ADA rose 5.3% on Sunday to reach $0.0473, its highest since Christmas Eve. The coin that powers the decentralized platform has returned 9.3% over the past seven days, placing it among the top performers for the week. by comparison, bitcoin traded flat for the week while XRP lost nearly 3%.
At current values, the Cardano blockchain is worth $1.2 billion, placing it 11th among active projects. Six months ago, the cryptocurrency was worth nearly $5 billion and was ranked eighth by market cap. Over that stretch, ADA has dropped more than 70%.
The latest run of good fortune has been accompanied by a notable rise in trading volume. Since last Tuesday, ADA trades have increased by 200%, according to CoinMarketCap. Nearly $44 million worth of ADA was transacted on virtual currency exchanges in the last 24 hours. ZBG and Binance each...
Bitcoin Оver $3,850 as top Cryptocurrencies see mixed trading signals
Sunday, Jan. 6 — most of the top 20 cryptocurrencies are seeing a mix of moderate gains and losses on the day to press time. Bitcoin’s (BTC) price is currently hovering over $3,850 again, according to Coin360 data.
At press time, Bitcoin is up just a fraction of a percent on the day, trading at around $3,870. Looking at its weekly chart, the current price has come full circle from $3,867 on Dec. 30. The current price is lower than the intra-week high of $3,946 on Jan. 2, and notably higher than the low of $3,710 reported on Jan. 1.
Ethereum (ETH) remains the second-largest cryptocurrency by market cap. The divide between ETH and Ripple (XRP) — the third-largest crypto by market cap — is increasing. Ethereum’s market cap is currently $15.9 billion, while Ripple’s market cap is $14.5 billion.
Ethereum has seen its value decrease by nearly 3 percent...
Verified ICO Review: (TEMCO) Token Sale & Blockchain Platform
TEMCO LABS | MISSION
Small and medium-sized enterprises (SMEs) do not have sufficient infrastructure or financial flexibility to offer supply chain management data to their customers. On the other hand, customers want more information about their orders more than ever. In the existing system, they only have access to basic shipping logs and estimations.
Using blockchain and smart contracts, the Transportation Enterprise Merchandise Customer Organization (TEMCO) Project will revolutionize supply chain management through innovative technology.
Our project will provide greater transparency and reliability across the entire supply chain process to deliver trustworthy information that empowers businesses and consumers.
Temco Labs Facebook | Twitter | Reddit | Medium
- Increases consumer trust from transparency & reliability across entire supply chain process
- Improves efficiency for businesses through streamlining supply chain
- Reduces cost for SMEs introducing management infrastructure & data analytics
Temco (TEMCO) is a supply chain management solution on RSK’s Bitcoin-based blockchain that allows businesses and consumers to segregate portions of the supply chain and access accurate data in real time, resulting in greater trust and transparency, as well as improved efficiency.
Holds everyone in the supply chain process accountable
The current supply chain infrastructure is broken, which regularly results in serious hazards for consumers, for instance, the possibility of illness and death as a result of improperly stored or handled food or medicinal products. There is a lot of pressure on supply chain managers to address concerns around these issues, but the system fails because there’s no suitable method in place for monitoring pre-delivery stages, and SMEs frequently don’t have the resources to implement them.
Temco proposes a three-part business model:
- Develop blockchain-based supply chain network
- Develop big data analytics tool and launch Temco market
- Provide big data analytics service and data
Need for consumer trust & SME infrastructure dictates Temco’s market potential
Every time there is an outbreak of foodborne illness, consumer trust in companies wanes, which can have damaging longterm repercussions. Temco’s team points to the 2017 pesticide-contaminated egg crisis as a recent example. The government...
Digital asset hedge fund wagers $1 million on crypto to outperform stock market this decade
Morgan Creek puts up a $1 million wager, inviting investors who believe the crypto market won’t outperform the S&P 500 to put their money where their mouth is, according to a CNBC report.
Morgan Creek operates an index fund called the Digital Asset Index Fund, in partnership with Bitwise Asset Management. The index funds offer high net-worth investors exposure to the top cryptocurrencies by market value.
The cryptocurrency investment firm is calling the challenge the Buffett Bet 2.0, mimicking Warren Buffet’s 2007 decision to bet $1 million that the S&P 500 would do better than a group of hedge funds against asset manager Protégé Partners. Buffet ended up winning the bet before donating his earnings to charity. Likewise, Morgan Creek is calling on any investor who believes the S&P 500 would produce more returns than Morgan Creek’s crypto investments over a 10 year period.
Co-founder and partner at Morgan Creek, Anthony Pompliano, said whoever’s on the other side of the bet has to be either someone bullish on the index fund or someone who believes cryptos are overvalued.
“This is a combination of our outlook not only for...