industryterm:blockchain technology

Draft bill proposes 10-year prison term for dealing in cryptocurrency - Business News
▻https://www.indiatoday.in/business/story/draft-bill-proposes-10-year-prison-term-for-dealing-in-cryptocurrency-154

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HIGHLIGHTS

A draft bill has proposed 10-year jail term for people dealing in cryptocurrencies in India
Besides making it completely illegal, the bill makes holding of cryptos a non-bailable offence
A cryptocurrency is a virtual currency that uses cryptography for security and is generally based on blockchain technology

Holding, selling or dealing in cryptocurrencies such as Bitcoin could soon land you in jail for 10 years.

The “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019” draft has proposed 10-year prison sentence for persons who "mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies.

Besides making it completely illegal, the bill makes holding of cryptos a non-bailable offence.

A cryptocurrency is a digital or virtual currency that uses cryptography for security and is generally based on blockchain technology, a distributed ledger enforced by a disparate network of computers. Bitcoin is the most popular cryptocurrency in the world.

Given the high chances of cryptocurrencies being misused for money laundering, various government bodies such as the Income Tax Department and the Central Board of Indirect Taxes and Customs (CBIC) had endorsed banning of cryptocurrencies.

The draft bill for banning cryptocurrency has been in the works for some time with Economic Affairs Secretary Subhash Chandra Garg leading the exercise.
While strict law would soon be in place to deal with people indulging in trade of cryptocurrency, India is likely to have its own digital currency.

“A decision on the launch of Digital Rupee would be taken after consulting the Reserve Bank of India (RBI),” said an official.

#Monnaie_numérique #Cryptomonnaie #Bitcoin #Inde

Meet Voatz, the #blockchain company tackling election fraud
▻https://hackernoon.com/meet-voatz-the-blockchain-company-tackling-election-fraud-1c95737138f5?s

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As the midterm elections have come and gone, voter fraud and suppression has continued to be an issue and hot topic item for Florida, Arizona, and Georgia. Claims and lawsuits are being dealt with in these crucial states as officials attempt to sort out the chaos. However, a preliminary test with mobile election system Voatz is trying to find a solution to these problems before they arise.Voatz is looking to introduce blockchain technology into the voting process. Common misconceptions tends to tie blockchain and cryptocurrency together into one entity. As blockchain is simply the technology that allows cryptocurrency to live, it has many other practical uses. However, cryptocurrency as been seeing trouble transitioning over into the mainstream lately, unable to work on essential, (...)

#politics #finance

#blockchain Smart Cities Rating — From Melaka Straits City to #crypto Project in Nevada Desert
▻https://hackernoon.com/blockchain-smart-cities-rating-from-melaka-straits-city-to-crypto-projec

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Blockchain Smart Cities Rating — From Melaka Straits City to Crypto Project in Nevada DesertThe agiotage around blockchain technology has reduced dramatically. But now it’s time for technology adoption in real life. Imagine a city, where payments for goods and services, data exchange between municipal institutions, work of transport and infrastructure projects — almost everything in based on blockchain technology. You think such kind of mass adoption looks like a fairy tale? But this is actually a reality or something that will be a reality in the very near future.I decided to create a short list of the most promising smart city projects based on blockchain, which are already running or are about to be launched. The list includes those projects that are not just developing a technological (...)

#blockchain-city #crypto-project #smart-cities

V Systems — Decentralized #blockchain Databse and DApp Platform for the New Digital Economy
▻https://hackernoon.com/v-systems-decentralized-blockchain-databse-and-dapp-platform-for-the-new

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A Decentralized Blockchain Database and DApp Platform for the New Digital EconomyBitcoin was originally ideated as a peer-to-peer electronic decentralized payment system, based on a public ledger or blockchain. Developers soon realized that the scope of blockchain extended much beyond a modest payment service. Vitalik Buterin viewed it as a platform on which decentralized applications (DApps) could be written using smart contracts, and brought Ethereum to life, which ushered in a new era of blockchain projects. Another application of blockchain technology that has gained ground recently is as distributed data systems. Just like we use centralized data systems like Google Cloud and Amazon AWS, with some optimization, blockchain can be used as a decentralized database. V Systems is a (...)

#decentralized-database #v-systems #sunny-king #spo

#blockchain a buzz around #bitcoin
▻https://hackernoon.com/blockchain-a-buzz-around-bitcoin-9672ca2f17c6?source=rss----3a8144eabfe3

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Image by TheConversationThere is a buzz around the word Bitcoin in recent times and people think that bitcoin is blockchain and blockchain is bitcoin. Here I am going to talk about some open source communities who now have pioneered on the word BLOCKCHAIN and have proved to the world that BITCOIN is not the only BLOCKCHAIN.Image by G2crowdNakamoto’s paper on A peer-to-peer Electronic Cash System introduced to the world the concept of Blockchain. Blockchain came into existence for bitcoin and started the race to mine bitcoins to earn incentives.On the other hand, industries also started looking into blockchain technology as a boon and how they can use it to solve the problems they are facing. Blockchain-based technologies had shown the software industry a new way to build an application (...)

#blockchain-technology #blockchain-startup #blockchain-development

Problems with #blockchain Technology
▻https://hackernoon.com/problems-with-blockchain-technology-d614ea123279?source=rss----3a8144eab

Niggling Problems with Blockchain TechnologyBlockchain technology has become one of the biggest buzzwords not only in the field of finance but also in technology. Blockchain proponents believe that the technology will revolutionize financial services as it functions without a central authority. The technology also stores data in a tamper-proof way which is an additional advantage of the technology. It is believed that the emerging blockchain technology will be beneficial for a number of industries beyond finance and technology, particularly for the industries which have to keep a huge trail of paper records such as healthcare, law, and real estate.Though there are numerous benefits of the blockchain technology slow transaction speed and lack of standardization have slowed down the (...)

#challenges-in-blockchain #blockchain-technology

#blockchain game should focus more on ‘game’ than ‘blockchain’
▻https://hackernoon.com/blockchain-game-should-focus-more-on-game-than-blockchain-403899608053?s

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Blockchain #games Should Focus More on ‘Game’ than ‘Blockchain’The common belief amongst prominent thought leaders and investors in blockchain is that games will lead to mass #adoption of blockchain technology. Much has been promised, with the CEO & Partner of Hashed, Simon Kim, asserting that “The Blockchain Game World Is Our Oyster.” Mass adoption has become a holy grail for blockchain projects, as eliminating the profit taking middlemen leaves no other alternative business model that they can thrive upon.While I do believe that internet of reality will come with blockchain technology, I also see a problem with the way current blockchain games are approaching the problem. Instead of focusing on the core problem that traditional gaming has solved for the masses, the solutions suggested by (...)

#game-development #investment

The Synergy: Traditional Financial Institutions’ Capital and Crypto
▻https://hackernoon.com/the-synergy-traditional-financial-institutions-capital-and-crypto-5cf02d

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Korea is the biggest Crypto market in the world, but still, the Korean government, similar to that of the Chinese government, cannot seem to shift its negative view of blockchain, cryptos, and the exchanges. It can be said that as of now, Korean and Chinese governmental regulations are heading in the same direction.Fortunately, The Korean government has recognized that blockchain technology is emerging very quickly and this technology will be the essential energy resource for the future.The ever-expanding and the solid user base of the Korean people who are actively trading and using cryptocurrencies have become an even more important issue to the government than collecting taxes from major Korean exchanges.It is very obvious that the Korean government cannot make such a profitable (...)

How #blockchain Can Improve Life in #cities and Reduce the Cost of Deliveries
▻https://hackernoon.com/blockchain-improve-cities-reduce-cost-deliveries-ecommerce-f66c50be29e5?

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Geeba plans to use blockchain technology to improve the speed of e-commerce deliveries and ease the burden on urban infrastructures.Urban delivery is expensive due to outdated technologies and a lack of flexibility in the supply chainBlockchain technology is often touted as a world-historic shift in how we organize information, conduct economic transactions, and even our political structures. Yet, blockchain also has many less dramatic applications that fall short of fundamental social transformation. These practical applications still make a positive contribution to the social good.“Last-Mile” DeliveryMany sectors of the traditional economy have segments in which blockchain technology could be hugely helpful in increasing efficiency, reducing waste, and easing pressure on urban (...)

#ecommerce #business #startup

#harmony — A High-Throughput, Low-Latency Public #blockchain Platform for Decentralized Economies
▻https://hackernoon.com/harmony-a-high-throughput-low-latency-public-blockchain-platform-for-dec

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A High-Throughput, Low-Latency Public Blockchain Platform for Decentralized EconomiesAs blockchain technology marches forward in its quest for mass adoption, the biggest hurdle it faces is arguably scalability. More and more merchants the world over have warmed up to the possibility of accepting #crypto, particularly Bitcoin and Ether, as means of payment. But if crypto is to be considered a serious contender for a borderless payment solution, then it has to go head-to-head with the prevalent electronic payment services like Visa and Mastercard. And as things stand today, crypto is lagging far behind. Bitcoin can handle less than 10 TPS, while Ethereum can manage up to about 40 TPS on a good day. Compare this to Visa’s daily 2,000 TPS (which can theoretically scale up to ~50,000 TPS), (...)

#sharding

A Reliable #blockchain Platform for Renewable #energy Sector
▻https://hackernoon.com/a-reliable-blockchain-platform-for-renewable-energy-sector-b25a7eecdf5d?

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TerraGreen PurposeThe general thought behind #terragreen is to use blockchain technology and cryptocurrency to make the earth (Terra) a greener place. The focus of TerraGreen is to produce renewable energy that is generated from renewable materials and waste productions instead of using fossil fuels like oil, coal and natural gas. In the end, TerraGreen’s purpose is to create a truly sustainable and clean community which will allow consumers to directly participate in the renewable energy industry positively.TerraGreen intends to break down the walls between energy producers, investors, consumers, and utilities so that people get involved and influence their energy is produced.TerraGreen Motivation.Environmental stress to earth has induced an urgent quest for innovation in energy (...)

#ico #climate-change

The Quantum Computer: Annihilator of Contemporary #blockchain Technology
▻https://hackernoon.com/the-quantum-computer-annihilator-of-contemporary-blockchain-technology-4

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With the popularity of cryptocurrencies on the rise, specialists in the area worry about how, when it comes about, quantum computers will threaten blockchain technology, which at the moment still lacks reliable data security.Photo by Pawel Janiak on UnsplashLooming ThreatsQuantum computers are our future, not just with #cryptocurrency but in all areas of life, though the fear that they could — in the realm where they are seen as being of most use at the moment — crack the cryptography which blockchains use for security.The threat is a real one.However, some scientists believe the only way to counter this is to use quantum blockchains as a wall against the threat.A simple case of ‘like for like’.Like Sheep in the BrainSource: Wooden Poster — Do Androids Dream of Electric SheepMy whole interest in (...)

#life-lessons #science #quantum-computing

How #ethereum Is Very Likely To Become A Leading #blockchain Platform
▻https://hackernoon.com/how-ethereum-is-very-likely-to-become-a-leading-blockchain-platform-110e

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▻https://cdn.pixabay.com/photo/2018/09/07/09/10/ethereum-3660218_960_720.jpgWhen blockchain technology went mainstream in late December 2017, little did many tech analysts, IT experts, and ordinary users know that the industry was heading into an unprecedented revolution era. At that time, few cryptos like Ethereum and Bitcoin were all over the news making popular headlines as prices kept soaring high.It was at this point that many enterprising individuals and business organizations saw the need to adopt relevant blockchain solutions by investing in the technology. Most folks who were already tired of the old, dysfunctional monetary system didn’t hesitate to join in the bandwagon too. Within two months, the crypto market seemed to have gone out of control, blowing everyone’s imagination (...)

#blockchain-development #blockchain-technology

Pointing #blockchain Towards Tomorrow
▻https://hackernoon.com/pointing-blockchain-towards-tomorrow-99aeb6e8ef38?source=rss----3a8144ea

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By Eleanor Haas, an Iconic Holding partner, crypto/blockchain commentator, advisor to innovators and Astia Angels, and Director, Keiretsu Forum Mid-AtlanticWhen #cryptocurrency crashed, ICOs largely disappeared and the early stage crypto/blockchain market appeared penniless, a lot of people assumed the blockchain story was over. But, guess what, the main story had been burgeoning under the radar all along! Part of that story is the crypto asset flight to quality — discussed in Can Crypto-Spring Be Far Behind. But a big part is the transformational enterprise blockchain pilots and collaboration by enterprises and blockchain startups alike. Adults to the rescue? Nope. It’s a two-way street with challenges and progress on both sides.Challenges and ProgressAdoption of blockchain technology by (...)

#crypo-assets #startup #blockchain-technology

Tips to Design a Better UX for #blockchain Technology
▻https://hackernoon.com/tips-to-design-a-better-ux-for-blockchain-technology-57f7a865ea04?source

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Blockchain TechnologyWhenever it comes to developing an app or product, it should either attract your target audience or give you the sales like anything. What if you have neither gained sales nor audience? Everything will meet at the point of depression, right?What about Blockchain? Blockchain is an innovative technology that the world has found. It changes the traditional transactions and paves a way to the modern digital currencies like Bitcoin, Ethereum and many others. It is not bounded to just financial transactions; it can also be applied to music, art, stocks and so much more. Therefore developing a blockchain technology needs utmost care and cautiousness.Developing a blockchain technology is not easier but implementing it to users is something that takes you to the next (...)

#blockchain-startup #blockchain-technology #blockchain-design #blockchain-development

#blockchain and the World of #digibles
▻https://hackernoon.com/blockchain-and-the-world-of-digibles-63ff83310f9f?source=rss----3a8144ea

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You’ve probably heard of cryptocurrency — most notably, Bitcoin.The magic behind the screen that allows people to buy and trade #bitcoin and other cryptocurrencies is a technology known as blockchain.“Next big thing” pundit Don Tapscott has “never seen a technology that he thought had greater potential for humanity.” It may be a bit hyperbolic, but illustrates the power of blockchain technology, nonetheless.Others predict blockchain will catalyze growth of the global economy by reinventing stock exchanges, asset management — and even the way fine art is bought and sold.What if they’re right?And what is blockchain, anyway?Transparent techEven in blockchain’s simplest form, it is still pretty technical — so bear with us.Blockchain is a time-stamped series of immutable records of data. These records are (...)

#taproot #digital-collectibles

Why Managing Crypto Assets Is Different From Fiat
▻https://hackernoon.com/why-managing-crypto-assets-is-different-from-fiat-85a2c5d33bab?source=rs

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The skills required to be a successful CFO in traditional finance are certainly important, but successful crypto CFOs have an entirely new set of skills to develop.While there is some overlap between traditional CFO skills and those needed for crypto companies, the simple truth is that blockchain technology is too transformative for CFOs to not update their knowledge.Here are seven ways that managing crypto assets differs from managing fiat:Transactions are more difficult to trackFiat: Understanding exactly who sent or received a transaction is simple. The beneficiary and bank are clearly identified. If a transaction for $10,000 was sent to ABC Construction, it’s automatically labelled by the bank and there’s no guesswork required.Crypto: Imagine if instead of seeing “ABC Construction,” (...)

#bitcoin

Combining #blockchain and File Storage Might Just Decentralize the Internet
▻https://hackernoon.com/combining-blockchain-and-file-storage-might-just-decentralize-the-intern

Eric Wang is a co-founder at the Archon Cloud, a blockchain-based file storage system, where he leads research and other efforts.TL;DR: This article describes the emergence and potential impact of file storage systems based on blockchain technology. Blockchain-based File Storage (BFS) is a promising alternative to both centralized storage and non-incentivized P2P file systems. If BFS can overcome the many usability and technological challenges it faces, it can potentially become the de facto storage infrastructure, catalyzing a decentralized internet.IntroductionThere is recent focus on decentralized systems because they promise new classes of applications free from intermediaries, create new economies of scale and offer unprecedented user control of data. Smart contract functionality (...)

#hackernoon-top-story #cryptocurrency #decentralized-internet #blockchain-file-storage

An Outsider’s View on the Cryptocurrency and #blockchain Landscapes in New Zealand
▻https://hackernoon.com/an-outsiders-view-on-the-cryptocurrency-and-blockchain-landscapes-in-new

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Distributed Ledger Technology (DLT) is a new development in computer science. It enables transparency and trust through immutability and visibility as recorded data can be retrieved online. Furthermore, it can eliminate the need for a third party and can potentially alter the current relationships held between people, businesses and governments. In New Zealand, the opportunities are abundant. Cryptocurrencies and Blockchain technology are generally well-received in the sovereign island country.In this article, we will explore the general outlook of cryptocurrencies and blockchain technology in New Zealand.Support from New Zealand Government and AuthoritiesA report from Callaghan Innovation, NZ’s innovation agency, shows immense support from the New Zealand government. They recognize the (...)

#blockchain-new-zealand #blockchain-technology #new-zealand

#blockchain is Useless. NOT.
▻https://hackernoon.com/blockchain-is-useless-not-516ac84094a7?source=rss----3a8144eabfe3---4

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I’d like to take a moment before the rumored bull-run of August hits and address the current wave of toxicity that the industry is currently dealing with.“Blockchain is just a slow database” — Bitcoin MaximalistsYes, the ICO wave of 2017/18 has been largely disappointing. Roughly $6.8b was raised with little to show for it. In many people’s eyes, blockchain technology has been a major let down with many projects simply not working out.Does this mean they are right? Does this mean this tech is not applicable to much of anything? I don’t think so.The Gartner hype cycle for emerging technologies. The blockchain is in the trough of disillusionment.Folks, may I remind you that new tech is always slow as heck because it’s brand new. Today, blockchain is mostly good for applications that can’t do (...)

#decentralization #cryptocurrency #bitcoin #ethereum

How #blockchain Can Democratize AI Development
▻https://hackernoon.com/how-blockchain-can-democratize-ai-development-6c49037100e4?source=rss---

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Data Access for AI: An Under-Explored Use for BlockchainThere is a vast amount of computing power around the world that is not used efficiently. There are an estimated 4 billion personal computers in the world and 90% of them have free capacities at any given moment. This is to say nothing of the idle capacities of other personal devices, like smartphones and tablets. In effect, this excess computing power is wasted.Lots of startups are trying to use blockchain technology to take advantage of this inefficiency to meet different economic needs. The blockchain is exciting in this context because it provides an infrastructure for distributed computing power, while at the same time providing an incentive for individuals to link their idle devices to the network.Many of the startups I’ve (...)

#startup #cryptocurrency #artificial-intelligence #business

4 Signals That Explain How Businesses Are Adopting #blockchain
▻https://hackernoon.com/4-signals-that-explain-how-businesses-are-adopting-blockchain-7204ba9011

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The new State of the Enterprise Blockchain Study contains some key signals to how business is adopting blockchain technology. These signals identify its progress, but also highlight the best inroads to working with enterprises and the work the industry needs to complete to build on the progress.1. More best practices are needed.While 75% of respondents agreed that blockchain will be mainstream technology by 2025, enterprises—especially large ones—are still waiting for patterns of success before opening their wallets. 62% cite a lack of tooling and internal skills as roadblocks to adoption. 50% need further proof in the form of use cases or pre-built solutions to develop their blockchain business case.In short, blockchain is still too hard to learn for busy IT shops running at scale, and (...)

#web3 #ethereum #enterprise-technology #bitcoin

Comparing three popular wallets. The differences are greater than you might think.
▻https://hackernoon.com/comparing-three-popular-wallets-the-differences-are-greater-than-you-mig

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Wallets are gateways to cryptocurrencies and, as the #blockchain space has grown, the variety of wallets available has also grown. Most people who want to dabble with a small amount of crypto, start off their crypto journey by setting up hot wallets in the form of phone, desktop, or web application. Hot wallets focus primarily on convenience and are great for making coin transfers on the go.While hot wallets may be convenient, they force users to sacrifice #security and the underlying basis of crypto: having complete control of one’s wealth. Thus, as people get a stronger grasp of blockchain technology and understand how to improve security of their Crypto assets, they either opt for hardware wallets, or even brain wallets.User Experience is ImportantGiven that wallets are gateways to (...)

#cybersecurity #bitcoin #ethereum

Day 4 Of #gdc Coverage From #pixeos !
▻https://hackernoon.com/day-4-of-gdc-coverage-from-pixeos-2b185dbe0c91?source=rss----3a8144eabfe

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As GDC rages on, I’ve been able to bring you news about amazing games, but I’ve also spent a majority of my time talking to developers, engineers, and artists about the possibilities lying ahead for the #gaming industry thanks to #blockchain technology, and how pixEOS is on the leading edge of this trend.When people think of blockchain technology, often their minds jump straight to cryptocurrency, massive volatility, and perhaps even lambos. While this is all fine and good it doesn’t begin to even scratch the surface of what blockchain based systems can do for gaming.A Wave Of Non-Fungible-Tokens ApproachesWhat is a non-fungible-token (NFT)? Simply put a NFT is a blockchain based token that represents a digital object. It could be a picture, or a Cryptokitty in the case with the Ethereum (...)

#eos

Just 1% #blockchain adoption expected. Where is the other 99%?
▻https://hackernoon.com/just-1-blockchain-adoption-expected-where-is-the-other-99-53b3b225c46b?s

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Bitcoin’s bull run in 2017 from $900 to $20,000 at its peak has caught the world’s attention, bringing the once obscure distributed ledger technology mainstream.Many industry newcomers have the misconception that blockchain is a newly emerged technology. However, the fact is that cryptocurrencies and the underlying blockchain technology have been around since a decade ago, back when Satoshi Nakamoto first published the #bitcoin Whitepaper in 2008 and mined the genesis block of bitcoin a year later.Source: CoinmarketcapThe hype and attention buoyed by the parabolic price action have also attracted more players to enter the industry.Just 3 years ago, the total number of ICOs stood at 29, with total funds raised totalling being 90 million. In comparison, the total number of ICOs in 2018 (...)

#ethereum #cryptocurrency #crypto