Archive for the ‘blockchain’ Category

Post event analysis by for Blockchain Summit 2018, Singapore conducted by UNICOM

28 Feb

Singapore’s Industry Leaders Discuss the Future of Blockchain Technology at Unicom’s Blockchain Summit 2018

Held in a pleasant, intimate setting of Ramada Hotel’s Zhongshan hall, the Unicom’s Blockchain Summit 2018 offered a number of interesting talks on the current development in blockchain technology and emerging token economy.

Are we going towards AI-governed blockchains?

Hayk Hakobyan’s take on the issue of governance offers a big picture overview of the problem and outlines directions toward AI-governed blockchains that will eventually enable us to solve real-world problems such as e-voting and intelligent decision making.

He points out problems with traditional blockchain systems such as Bitcoin and Ethereum that are caused by asymmetries in incentives for system improvements between developers, miners and users.

In the case of Bitcoin, new developers are not incentivized to improve the system as there is little value for them in doing so. As a result, there is a potential risk of a small number of veteran Bitcoin developers gaining too much power and being susceptible to bribery or being responsible for slowing the technological advancement of the Bitcoin ecosystem. At the same time, there is a risk of miners gaining disproportionate power over the system as well since high-volume miners are a small, concentrated group.

Ethereum plans to transition from PoW towards PoS system of governance. The system based on PoS addresses the possible centralization risk and the risk of disproportionate power accumulation observed in the Bitcoin network. However, the system is still overly reliant on Ethereum’s creator and there are few ways for incentivizing core system development.

New types of chains offering on-chain governance are emerging:


Similarly to Ethereum, Tezos is a smart contracts platform. However, it also allows protocol upgrade through on-chain governance. The core idea behind Tezos system of governance is to incentivize developers (or anyone for that matter) to propose protocol changes. The developer submits a proposal for protocol update and at the same time requests compensation for their work. In effect, the power dynamics shifts toward the users and away from miners and core developers. In order for the suggested protocol changes to be implemented Delegated Proof of Stake (DPoS) consensus model comes to play, whereby token holders can choose delegates to represent their votes.


Dfinity offers similar system of governance as Tezos with the added possibility of applying changes retroactively. This essentially means that, apart from protocol updates, users have the power to back-edit the existing ledger when necessary. This is particularly useful in case of cyber-attacks.

Taking a step further, Hakobyan discusses other theoretical concepts of governance (such as Futarchy, Liquid Democracy and Quadratic voting). He also proposes that a combination of AI and blockchain technology could potentially mark the beginning of entirely new paradigm: maximizing security while remaining immutable by employing AI agents to govern the chain.

Governance 2.0
A system of governance whereby coordination, incentives and decisions (including consensus) will be governed according to proven AI models.

Governance 3.0
Combination of blockchain and AI technology contributes to the development of direct democracy, such as in global transfer of large amount of data or tracing e-voting procedures. Moreover, in the line of the core idea behind the CAPTCHA project, where both human mind and AI collaborate on a large scale in order to digitize old books and scripts, PoW protocols can be designed to contribute to the common good and wealth of humanity.

Photo Gallery from the Unicom’s Blockchain Summit 2018 in Singapore

Upcoming conferences from UNICOM:


Blockchain Summit Singapore

29 Jan

Blockchain Summit Singapore -February 22, 2018

This conference brings together Block Chain technologists in the finance sector, regulators, industry commentators, computer science researchers and others involved in financial innovation; these experts explore some of the technology and the many applications of Block chain in Financial Services in Singapore.

Conference Link:


National banks and regulators, exchanges and investment banks across the world are taking seriously the financial innovation of distributed ledger or block chain technology. The block chain, aka Trust Machine underpins “crypto currencies” such as Bitcoin; but it goes beyond digital money. It provides a shared, trusted, public ledger that everyone can inspect, but no single user controls. It is at the cusp of revolutionising international money transfers, trade finance, syndicated lending and collateral management, among other applications. As it allows for almost instantaneous payments and settlement, the potential impact on the role of traders, quants and other financial technologists cannot be underestimated.

Who will use the blockchain?
As web infrastructure, you don’t need to know about the blockchain for it to be useful in your life.

Currently, finance offers the strongest use cases for the technology. International remittances, for instance. The World Bank estimates that over $430 billion US in money transfers were sent in 2015. And at the moment there is a high demand for blockchain developers.

The blockchain potentially cuts out the middleman for these types of transactions. Personal computing became accessible to the general public with the invention of the Graphical User Interface (GUI), which took the form of a “desktop”. Similarly, the most common GUI devised for the blockchain are the so-called “wallet” applications, which people use to buy things with Bitcoin, and store it along with other cryptocurrencies.

Transactions online are closely connected to the processes of identity verification. It is easy to imagine that wallet apps will transform in the coming years to include other types of identity management.

Address:16 Ah Hood Rd, Singapore 329982

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Contest >Blockchain Tussle 2018

08 Jan

About Blockchain Tussle 2018:
The 1st edition of the annual corporate quiz contest Blockchain Tussle is here!! Purpose of this contest is to identify India’s most knowledgeable professional in Blockchain. The topics will be generic to make the contest fun and competitive. Will you bring laurel to your organization and to yourself?

Blockchain Tussle will be organized by UNICOM in 2018.

Over 1250 IT professionals from 350+ companies in India and abroad would be participating, with experience ranging from 1 year to 20 years.

List of Topics that will be covered in Blockchain Tussle 2018:

Blockchain Overview
Crypto Currency
R3 Corda

Visit here for more info:

Game Plan:

Qualifier Round 1: Online on February 08, 2018 – Duration 30 Mins [Time: 4:00-4:30 PM] FREE

Link to take the quiz would be sent to nominees via email 2 days before the quiz
Quiz can be taken from anywhere – office / home / browsing centers, etc.
This round will be for 30 minutes. You will have to answer 40 Multiple Choice Questions
Questions have been designed to be generic covering all areas of Blockchain. Most delegates will find questions to be easy.
Based on performance selected teams will be qualified for Round 2.
Selected Candidates will be informed via Email & will have to pay a nominal fee of INR 15,000+ GST per team to participate in semi-finals. This fee includes Complimentary pass for Blockchain Summit 2018, Bangalore.
Semi-Finals in Bangalore at the conference venue (08:15-08:45 AM) – PAY

Format – Pen and Paper based quiz.
This round will be for 40 minutes. You will have to answer 40 Multiple Choice Questions and 2 Situational and Subjective Questions
Top 04 teams will go to finals.
Certificates will be provided to all semi-finalists
Finals with 4 Teams in Bangalore at the conference venue (Time: 4:30-5:00 PM) – FREE

Format – Oral quiz to be held on stage
Quiz will have Audio and Video Rounds/Multiple Choice with Live scoring. Contest Format will be explained at the beginning.
This round will be for 40 minutes. You will have to answer 40 Multiple Choice Questions and 2 Situational and Subjective Questions
Result will be announced at the Venue by 5.30 PM. Winners and Runners-Up Teams will be given Prizes by our Chief Guest.
What’s the Best Olympiad Team taking home?

Winning Team – Gold Certificates and Gold Medal to the winners
First Runner Up Team – Silver Certificate and Silver Medal to both players in the team
Second Runner Up Team – Bronze Certificate and Bronze Medal to both players in the team
Winners shall be facilitated with the awards on the same day of conference in Bangalore at the Blockchain Summit 2018.
Who is eligible for Blockchain Tussle 2018?

Anyone who is professionally involved in Blockchain(at all roles)is eligible
Student/Fresher is not eligible

Is there any participation fee?

There is no participation fee to take Qualifier Round.
Teams get selected for the Finals need to pay INR 15,000 + GST per team as participation fee. This fee includes Attendance @ SemiFinals and Blockchain Summit 2018.

How to Enrol for Blockchain Tussle’2018?

Corporate Nomination :

A Team* of two needs to enrol together by sending an email to with following details of each participant:
Team Name | Full Name | Email Id | Phone Number | Company Name | Designation | Team name | Comments (If Any)
*More than one team can be nominated by a company
Non-Corporate Nomination :

If your company is not nominating you and your friend, then you can still nominate your team
A Team* of two needs to enrol together by sending an email to with following details of each participant:
Team Name | Full Name | Email Id | Phone Number | Company Name | Designation | Team name | Comments (If Any)

Visit here for more info & Register here:


Blockchain will kill the traditional firm

06 Nov

Whereas previous generations of technology delivered the same objectives faster, Blockchain has the potential to entirely change how businesses function

Blockchain Melbourne Summit, Blockchain conference

Blockchain and associated ‘initial coin offerings’ (ICO) are receiving increasing attention from companies, governments, venture capitalists and developers alike. Often viewed as a radical new technology that can redefine everything from financing for entrepreneurs to management of supply chains, Blockchain has attracted as many supporters as sceptics. But little real economic work has yet been done on Blockchain ­– so in this article, I’m going to discuss two main economic implications that myself and my colleague Dr Zeynep Gurguc have been investigating deeply: 1) the impact of Blockchain on the boundaries of the firm, and 2) the impact on entrepreneurial finance through ICOs.

We may best view blockchain as the continuation of a process of digitalisation within the global economy that has been ongoing since the 1960s. While previous digital technologies have been applied to improve business processes, they have generally been aimed at delivering the same objectives faster, e.g. the digitalising of back office services. As RH Coase put it in 1937, “innovations such as the telephone and telegraph, which tend to bring the factors of production nearer together, by lessening spatial distribution, tend to increase the size of the firm”. Previous generations of technology were therefore about the faster and more secure exchange of information. It is without doubt that digital technologies have in many cases enabled the ‘hollowing out’ of the firm, but continued the increasing reach of multinational organisations at lower costs.

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Blockchain, meanwhile, is about the exchange of value; it is intended to enable individuals to exchange currency and other assets with one another without relying on a third party to manage the contracts and transactions. Many people discuss blockchain from the perspective of ‘removing intermediaries’, citing examples such as bitcoin, which removes the need for central banks and shows trust in a currency can instead be created through a distributed network of nodes. Transactions are ‘trusted’ by the implementation of radical transparency: every transaction is publicly verifiable, and protected by cryptography and the solving of complex mathematical problems.

Newer implementations of blockchain such as Ethereum and Hyperledger offer companies and individuals the ability to create ‘contracts’ with one another, in principle reducing transaction costs and enabling a multitude of new business models to be created rapidly and in some cases dynamically or on the fly. Most importantly, these contracts can be established between individual creators and workers – not just large companies.

Blockchain presents us with something a little different from previous generations of technology therefore: the opportunity for entrepreneurs to work as individuals and coordinate economic exchanges of work and currency with one another in even large scale projects rather than needing the boundary of a ‘firm’ at all. Entrepreneurial activity could be orchestrated via a blockchain through removing the complexity of multiple contract negotiations.

It is our belief that today’s economists may soon find themselves in the same situation as DH Robertson, Ronald Coase and Mrs Robinson: trying to ascertain how coordination activities are occurring in an emerging digital economy and carefully assessing how the “lumps of butter form in the milk” around blockchain-enabled services. As a result, we must constantly return to Mrs Robinson’s questions: 1) are our theories tractable, and 2) are they reflected in the real world?

While blockchain does not itself challenge the theories of transaction costs or the boundaries of the firm, we can certainly see the way the real world is managing them because of blockchain is under rapid change. The most efficient boundary of the firm is shifting and we may enter a period where the price mechanism can be handled cost efficiently at the level of the individual, rather than the level of the firm. This undoubtedly has an impact on when, how and why a government would regulate certain activities an area our group is working extensively on. We are already seeing governments struggling to respond to ICOs despite them already having a large impact on entrepreneurial financing.

Blockchain Summit Sydney.

ICOs are therefore attempting to redefine how individuals and companies develop and attract funding streams, with many people claiming it is a more egalitarian approach to venture capital finance. In the US, for example, VC financing is dominated by three main cities: Boston, New York and San Francisco. Funding is directed by groups of people who are usually white, middle aged men from a certain class of society – or “pale, male and stale”. Reports abound of women and people from minorities being excluded from receiving venture capital, exposing what could possibly be a selection bias.

Can ICOs therefore allow a more efficient distribution of resources through our society? There are two aspects to this: first, the distribution of entrepreneurial finance; and second, how tokens redistribute access to physical resources in the world.

First, blockchain and ICOs may help us with the selection bias applied by VCs; allowing people and ideas to be funded that would otherwise be left by the wayside. Similarities may be seen in the crowdfunding model, but ICOs permit direct access to working capital for those seeking funding. Governments, however, have started to regulate that ICOs that fail the Howey test must be regulated as securities. This leaves many in a complex situation: it means the tokens need to be treated mainly as ‘use tokens’, i.e. a unit of payment for a service that the ICO provides.

We may therefore be better viewing tokens and some ICOs as the redistribution of access to physical resources in a distributed manner. This, however, requires deep analysis of not just the technical protocols involved – which is what many start-ups are currently doing – but to also assess the impacts and delivery from an economic perspective. Happily, this is something my team are doing. In collaboration with Outlier Ventures, we are conducting a series of economic experiments that feed directly into token and protocol development. The result will be highly innovative and – most importantly – economically sustainable solutions to the challenges created by initial coin offerings.

Register below if u want to attend Blockchain Sydney Summit(conference)


Blockchain Summit Johannesburg

12 Sep

Register here:

The Blockchain Summit, organized by the UNICOM will take place on November 22nd, 2017 Johannesburg. The Blockchain Conference 2017 will bring together a diverse range of experts who will discuss all the opportunities, challenges and exciting possibilities in innovation and disruption that can be leveraged in Johannesburg using this technology.

Blockchain is a revolutionary technology that minimizes fraud and maximizes efficiency, security & transparency in supply chains, healthcare, global money systems, financial technologies, democratic elections, auction of public assets, energy trading, electronic record authentication, delivery of Government services, IoT and much, much more. Blockchain technology in the information age represents the critical intersection between the financial rails, social networking, and powerful decentralised networks. It is critical for stakeholders to formulate careful legal and business strategies around novel business models as the technology and infrastructure, as well as the corresponding market appetite and regulatory structures, evolve rapidly in disparate global markets.

What are the concerns about bitcoin?

is bitcoin legalGovernment agencies are increasingly worried about the implications of bitcoin, as it has the ability to be used anonymously, and is therefore a potential instrument for money laundering. In particular, law enforcers seem to be concerned about the decentralized nature of the currency.

As early as April 2012, the FBI published a document highlighting its fears around bitcoin specifically, drawing a distinction between it and centralized digital currencies such as eGold and WebMoney. It voiced concerns that while US-based exchanges are regulated, offshore services may not be, and could be a haven for criminals to use bitcoin for illicit activities without being traced.

Bitcoin was the only form of currency accepted on Silk Road, an anonymous marketplace that was only accessible over the TOR anonymous browsing network, and which was closed by the FBI in October 2013. Silk Road was commonly used to sell goods that are illegal in many countries, including narcotics. This prompted US Senator Charles Schumer to call for the site to be shut down, explicitly linking it to bitcoin, which he called a “surrogate currency”.

With a blockchain, many people can write entries into a record of information, and a community of users can control how the record of information is amended and updated. Likewise, Wikipedia entries are not the product of a single publisher. No one person controls the information.

Descending to ground level, however, the differences that make blockchain technology unique become more clear. While both run on distributed networks (the internet), Wikipedia is built into the World Wide Web (WWW) using a client-server network model.

Register here:
Blockchain Summit Johannesburg, Conference

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What is bitcoin and how much is it worth?

30 Aug

Bitcoin event

Blockchain Summit Sydney

What is a bitcoin?
Bitcoin is decentralised, which means that no single authority or institution holds or controls the bitcoins.
Regular currency is controlled by one governing authority such as a central bank. If the country requires more money it can print more money but that devalues the currency and leads to inflation.
Bitcoins can be transferred electronically and practically instantly and have historically had low transaction fees, though this is something that has recently changed.

How are bitcoins created?
Only 21 million bitcoins can ever be created in order to protect the value of the bitcoin system. Bitcoins can be ‘mined’, which is the process of actually creating bitcoins, or they can be bought using regular currency.
Bitcoins can be mined using computer software and a mathematical formula designed by the Bitcoin founder Satoshi Nakamoto.
Satoshi Nakamoto is anonymous and could be one person or a group of software developers.
Some people have claimed to be the Bitcoin founder but to date, the Bitcoin inventor’s identity remains anonymous.
Bitcoins are created digitally by a community of people that anyone can join.
Each machine that mines bitcoins makes up part of the network and each machine works together.
Bitcoins are made or ‘mined’ by computer power on the bitcoin network. Miners use the computer software to follow the mathematical formula to produce bitcoins.
The mathematical formula is freely available for anyone to check and the software used is open source, meaning anyone can check it.
Bitcoins are not based on gold or federal reserves but on mathematics.
Bitcoins are created as a reward for mining, they can be exchanged for other currencies, products or services.
They are used to purchase goods or services on the digital black market.

Blockchain Melbourne

How do bitcoins work?
There are certain rules governing the creation of bitcoins; miners cannot just keep producing bitcoins as they please.
Because only 21 million bitcoins can ever be produced by miners, the value of the system is preserved and the value of the bitcoins fluctuates wildly, depending on supply and demand. the bitcoins can then be divided into smaller parts.
Bitcoins can then be divided into smaller parts – you do not have to buy an entire bitcoin.
The smallest divisible bitcoin amount is one hundred millionth and is called a Satoshi after the founder of bitcoin.
Bitcoin transactions are sent to and from Bitcoin wallets, which is where your bitcoins are stored electronically.
Bitcoin transactions are completely transparent, any bitcoin transaction can be traced back to the point where the bitcoins were produced.
However bitcoin is completely anonymous as bitcoin addresses are not linked to names, addresses or other personally identifying information and any one user can hold multiple bitcoin addresses.
Anyone can see how many bitcoins are held at a certain address but they don’t know who the address belongs to.
Once you have made a transaction using bitcoins there is no way to get them back unless the recipient returns them.

How can you use bitcoins?

You can start trading with bitcoins by buying bitcoins using your credit card.
Then once you have acquired some bitcoins you need to get yourself a bitcoin wallet to store it.
You need a special key to make transactions to other bitcoin users.
Blockchain Mumbai

How much is a bitcoin worth?
Much to economists’ confusion, bitcoins are traded and used as a form of currency.
For a form of currency to be successful it must be both a store of value and a medium of exchange.
Many users of Bitcoin will rave about how effective Bitcoin is as a medium of exchange.
Traditional currency is backed by reserves assets or unconsumed goods. In the past currency was backed by gold.
However, there is no consensus as to what exactly gives bitcoins its intrinsic value. Some say it’s the maths and technology behind it. Others say it is the effort of the miners to make the bitcoins.
Investing in bitcoin is a gamble just like investing in any over-inflated industry, good or service.
One Bitcoin is currently worth £3337.98 ($4309.30/€3612), but this figure fluctuates a lot and bitcoin has almost doubled in value since July.
As it stands, if you invested $2,000 into bitcoin five years ago you could be a millionaire today.

Up coming conferences


World Blockchain Summit Bangalore

23 Aug

Blockchain conference

World Blockchain conference
National banks and regulators, exchanges and investment banks across the world are taking seriously the financial innovation of distributed ledger or block chain technology. The block chain, aka Trust Machine underpins “crypto currencies” such as Bitcoin; but it goes beyond digital money. It provides a shared, trusted, public ledger that everyone can inspect, but no single user controls. It is at the cusp of revolutionising international money transfers, trade finance, syndicated lending and collateral management, among other applications. As it allows for almost instantaneous payments and settlement, the potential impact on the role of traders, quants and other financial technologists cannot be underestimated.

This conference brings together Block Chain technologists in the finance sector, regulators, industry commentators, computer science researchers and others involved in financial innovation; these experts explore some of the technology and the many applications of Block chain in Financial Services.

Our New Place to Find the Latest Bitcoin and Blockchain News

Blockchain Summit, Bitcoin conference

New concepts in technology are difficult, and it doesn’t help when their adherents are smug about the thing they know about and you don’t.

That’s how “blockchain” has felt to me. It’s a conceptually complicated, technically touchy topic that keeps popping up, making those on the outs feel dumb.
I’m here today not so much to explain blockchain to you as to offer two ways of increasingly your fluency in this increasingly important trend. The first is a new cover story by Fortune’s Robert Hackett, called “Why Big Business Is Racing to Build Blockchains.” In it you’ll find some very good de-mystifying prose that will help you understand why a certain segment of the finance and technology worlds won’t shut up about blockchain.
You may have heard a blockchain described as an electronic “ledger,” and that’s because it is a new way of keeping track of digital assets—and not just currencies like Bitcoin. Before now, an asset typically required some entity to sit between buyers and sellers to validate its value. A central bank or a stock exchange played this role. As Hackett writes in his article, “a blockchain can get rivals to cooperate in creating a common record that is accessible to everyone and controlled by no one.”

Descriptions like that make me start to understand this thing. What’s more, Hackett paints a compelling picture of well-established financial mechanisms that could be made more efficient by blockchains. “Trade finance, security clearance and settlements, cross-border payments, and insurance are all areas that could be overhauled and made more seamless,” he writes.

This is a very good start. The better news here is that Fortune isn’t confining its Blockchain aspirations to its magazine. Starting today, Hackett is part of a three-person editorial curation team that includes Jen Wieczner and Jeff John Roberts that will oversee all Fortune coverage of Blockchain developments as well as broader fintech issues. It is called, appropriately, The Ledger, and its founders expect it to be an authoritative record of all Blockchain news.
Benefits of sponsorship

This is a great opportunity to strategically brand your organization. As a sponsor, you will receive a tremendous amount of visibility and numerous other benefits at the conference.


Sponsorship Levels

Platinum Sponsor (Limited to 2)

Gold Sponsor (Limited to 3)

Knowledge Partner (Limited to 1)

Silver Sponsor (Limited to 4)

Bronze Sponsor (Limited to 4)

Conference Bag Sponsor (Limited to 1)

Track Sponsor (Limited to 2)

A-La-Carte (Open)

Price for one day : Rs 30,000

Price for two days : Rs 55,000

You can also choose to strategically brand your organisation as per the below combo offer.

Package includes:

Full day attendance to the event

Website branding

Logo on brochure

Speaking Slot – 30 minute presentation slot or panel discussion (optional)

Name tag branding

Brochure inserts


How Blockchain makes the online content economy fair and transparent

11 Aug

IT Conferences in India
blockchain Details
Online publishing and advertising is a very profitable market. Yet not everyone is profiting equally from it. Content hosting services, social media giants and advertising intermediaries are raking in huge sums of the revenue. Meanwhile the users who create, curate and share the content take away little or nothing from the value they help create, effectively becoming cogs in the wheel of tech giants.

Hopefully, blockchain, the technology that powers digital currencies, provides an alternative to the centralized ad and content delivery model. Blockchain, which rose to fame with the advent of Bitcoin, is a distributed ledger controlled by no single gatekeeper. It provides a platform to perform secure transactions without the need for brokers and middlemen. In recent years, blockchain has expanded its reach from monetary exchange to other fields where parties want to trade assets of value.

In the online content and digital advertising industry, blockchain can help level the playing field and create platforms where everyone gets compensated fairly for their contribution to the economy.

Blockchain-based digital advertising

blockchain Summit
Over the years, digital advertising has transformed into an inefficient marketplace that’s causing a lot of harm. Advertisers pay huge sums to intermediaries to reach their audience while publishers get meager portions of the ad revenue. And users’ share of the economy is annoying ads, slower page loads and tons of privacy-invading tracking code.

Blockchain creates an entirely new way to serve ads and reward publishers without the need for opaque intermediaries. One of the most notable projects in this regard is Brave, a browser developed by the namesake company cofounded by Brendan Eich, the inventor of JavaScript and cofounder the Mozilla project.

Brave natively blocks ads and trackers when you browse the web. In exchange users can opt-in to turn on ads, in which case both viewer and publisher get awarded Basic Attention Tokens (BATs), the company’s proprietary digital currency which exists on top of the Ethereum blockchain. Users can also choose to send BATs to the creators of their favorite content. Brave comes integrated with a BAT wallet. The browser uses local algorithms to assess user attention and optimize ads while preventing fraud and avoiding privacy invasions.

The system uses anonymization methods to protect user identities while providing advertisers with a verifiable audit trail on the blockchain. The main hurdle for Brave’s method of advertising and monetizing content is to get publishers and advertisers to adopt the model.

Rewarding content creators and curators
Software Events

Everyday, the internet generates millions of dollars worth of curated, shared and consumed content. However, centralized content hosting and distribution platforms reap most of the rewards. The people who are distributing the content have no say over how the dividends are distributed.

This is something that blockchain and a decentralized attention economy can change. Blockchain startup Synereo is aiming to remedy this situation with WildSpark, a new application it launched on August 10, which empowers consumers and curators directly to support content creators and be rewarded for their efforts as well.

WildSpark, which installs as a browser plugin, lets you send AMPs, Synereo’s cryptocurrency, to directly reward content creators when consuming their content—say a YouTube video. Afterwards, WildSpark generates a unique link that you can use to share the supported content with your followers on social media or embed it in your own blog or website, or send it through email

If other users view the content through your shared link and they too decide to send AMPs to the content creator, you will receive a percentage of the reward as the curator of the content. Every transaction is stored on the blockchain, which provides full transparency into the revenue that is channeled to each creator and curator.

The concept can enable users who have put hard efforts into creating large social media and and web followings to reward the creators of their favorite content and monetize their own platforms.

Supported by the blockchain, the decentralized attention economy makes sure everyone gets rewarded for their efforts in providing quality content.

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Bitcoin has split in two – what does it mean?

03 Aug
A new currency called Bitcoin Cash has appeared, split from bitcoin in a technical manoeuvre called a “hard fork”. It’s the project of a group that says bitcoin’s keepers are limiting its reach by resisting change.

The BBC is working with Microsoft on voice recognition for iPlayer

The BBC is working with Microsoft on voice recognition for iPlayer
The creation of Bitcoin Cash is the most striking result yet of a two-year-old feud over bitcoin’s future. Bitcoin is collectively valued at $47 billion but remains a niche product. Backers of the new currency say it’s necessary if bitcoin is to make a real mark on how the world uses money.
Bitcoin Cash’s confusing origin – and name – risk making it harder for cryptocurrency to gain wider acceptance. “Bitcoin’s an incredibly well-known brand, and to the extent it’s fracturing into various pieces, that’s confusing to regulators and consumers,” says Dan Morehead, founder and CEO of Pantera Capital, which invests in bitcoin and digital-currency startups. Morehead says he’s neutral on the dispute. “It just sounds bad; we’re not used to currencies that split into two.”
Adding to the confusion: Not everyone who holds bitcoin will get an instant stash of Bitcoin Cash today. Some leading bitcoin-storage services have said they won’t recognise the new currency, forcing people to move their business if they want to claim the new variety of cryptocoins.
Bitcoin was created by a pseudonymous coder (or coders) known as Satoshi Nakamoto, who released the software that powers the currency in 2009. It relies on a network of computers linked over the internet that collaborate to process and record all transactions in a digital ledger called the blockchain. Computers dubbed “miners” keep the ledger updated by adding to the sequence of “blocks” that make up the blockchain as new transactions take place. Proponents say this system creates a trustworthy currency free from political oversight and capable of faster, cheaper digital transactions than possible with conventional currencies.
Acrimony among bitcoiners stems from disagreement about limits on the blockchain’s capacity baked into Nakamoto’s design, and what to do about them. The bitcoin network can only support around seven transactions per second, compared with thousands per second piped through conventional financial networks such as Visa.

What is Bitcoin Cash?
Bitcoin Cash is a variation on bitcoin’s design, incorporating much bigger blocks, allowing for more transactions in a given time. Supporters say their project is necessary because planned changes that could expand bitcoin’s capacity are not sufficient. “At this point, it seems that the differences are irreconcilable and a split is unavoidable,” says Amaury Séchet, an ex-Facebook engineer who has developed code to implement Bitcoin Cash.

Owners of pre-split bitcoin will be recorded as owning cryptocoins on both blockchains. Some bitcoin exchanges – where owners transact and store cryptocurrency – have said that they will support the new currency and credit customer accounts with Bitcoin Cash when it appears. But others will not.

Bitcoin Cash’s value, and its effect on cryptocurrency’s place in the world, will be determined by how many investors and users switch from traditional bitcoin. Late Monday, one futures market pegged the value of a unit of Bitcoin Cash at about $300, roughly 1/10 the value of one Bitcoin. After launch, the value briefly fell, but has now surged to $466 at the time of writing.

The Bitcoin Cash adjustment to Nakamoto’s original creation does help address the currency’s capacity problem, says Emin Gün Sirer, an associate professor at Cornell who has studied bitcoin’s design. “The science to the extent we’ve measured it aligns with their reasoning,” he says. More important, and trickier, is whether enough people will use and invest in Bitcoin Cash to keep it going. “The crucial part is the amount of economic interest in this new currency,” Sirer says.

Support by bitcoin exchanges will enable use of Bitcoin Cash. Crucially, that could motivate more miners to put their computing power to work on maintaining Bitcoin Cash’s new blockchain, making it more reliable and stable, Sirer says. Miners are incentivised with new bitcoins for their work, and if Bitcoin Cash looks healthy, earning some early could strike miners as a good bet.

Will success for Bitcoin Cash come at the expense of the original bitcoin’s ideals?
It depends on whom you ask.

Defenders of the original design say too sharp an increase in capacity could raise the computer hardware requirements for contributing to the blockchain too much, opening the door to centralising control in the hands of a few dominant players. Séchet argues he’s fighting for the soul of bitcoin, and Bitcoin Cash will force the cryptocurrency community to take scalability more seriously, even if the project fails. “Either bitcoin does not scale and Bitcoin Cash will overtake it over time, or it will scale because of the pressure created by Bitcoin Cash,” Séchet says. “Either is a win for bitcoin users.”

Some trying to build businesses on top of bitcoin are becoming frustrated by the ongoing arguments. “It really has dragged on,” says Morehead of Pantera Capital. Nobody ever said that upending the financial system would be easy.


Can blockchain technology create another era of Asian tigers?

31 Jul

Blockchain Summit (conference)
It has been nearly three decades since tiger economies were in mainstream discussions in Asia, but that doesn’t mean that progress in the region has stalled. A number of Asian economies are displaying rapid growth especially with the emergence of tech as an economic driver. Barriers to entry in the tech industry have also become much lower over the years. With new technologies now comes the opportunity for ventures to create unique products and services to offer to global markets.

Blockchain tech is now among the hottest trends, especially since new blockchain platforms like Ethereum have extended its use beyond cryptocurrencies. The integration of smart contracts into blockchain has allowed startups to explore new and exciting uses. It might just usher in the creation of another era of Asian tigers as more ventures from the region get into the game.
Diverse blockchain applications

Blockchain in itself is already a powerful technology. Built as a distributed public ledger, blockchains are an ideal tool for transparent and immutable recordkeeping. This is why it has been an ideal platform for cryptocurrency and payments. Southeast Asia’s blockchain startups like Toast and have mainly focused on this use to provide payments and remittance services that are lower-cost alternatives to other payment methods.

The integration of smart contracts into the blockchain has even widened its possible applications. Smart contracts are software that can automate the execution of agreements while using blockchain tech to record each related transaction. Such a technology could empower quick and safe transactions not only for e-commerce but also for big-ticket deals such as real estate and automobile sales.

A slew of various services can be built around such an ecosystem., a collaboration between Chinese and European experts, uses blockchain and smart contracts to build a distributed cloud that supports distributed applications. Think of it as a peer-to-peer cloud where anyone can allow others to rent spare computing resources.

Hong Kong-based KYC-Chain offers an blockchain identity platform to other businesses and financial institutions. Know your customer (KYC) is a common regulation that requires financial institutions to secure information about customers to prevent fraud and money laundering.

Some ventures are even looking at more altruistic applications of blockchain. For example, – currently running its token sale – aims to create microfinance and remittance services for emerging markets. Everex is actually the first company to offer cross-border microcredit services, and the first to make all financial activity available for public audit on the blockchain and they’ve been working with Thailand and Myanmar to provide migrant workers access to blockchain remittance. Everex transactions are settled on the basis of 100 per cent-backed, Ethereum-based Cryptocash currencies. As a result, fiat money can now travel around the globe at the speed of the blockchain.bitcoin
ICOs as new funding sources

Blockchain has also helped lower barriers to startup financing. Token sale and initial coin offering (ICO) have become popular means for blockchain startups to raise funds. Since new blockchain platforms allow these companies to create their own cryptocurrencies, startups could offer these tokens for sale in exchange for investment. These ICOs effectively disrupt venture capital and traditional investing and even the business loans market.

Singapore-based TenX was able to raise US$80 million in its token sale showing that major funding can be achieved from the effort. A startup doesn’t have to be in a US or European tech hub to be able to secure such funding either. Funding records are also continuously being broken. Recently, Tezos broke the token sale record by raising US$232 million in its ICO. Previously, Israel-based Bancor put up US$153 million to fund its projects.

Unlike traditional funding rounds, token sales and ICOs can happen much faster. Token sales and ICOs could easily be held. In contrast, funding from venture capital and angel investors can take months to get settled. Initial public offerings are usually years in the making and requires a thorough administrative process.

New tigers?

The previous Four Asian Tigers – Taiwan, Singapore, Hong Kong, and South Korea – have all emerged to join the likes of Japan to become global contenders. The rest of Asia is trying to catch up. There has been much growth and development and many would want to grow beyond emerging market status.

The good thing is that technology has been the great leveler. Asia doesn’t have to look far to see how technology could drive growth. Israel, despite its lack of natural resources, was able to use technological expertise to dominate key tech verticals such as cybersecurity and software-as-a-service.

China and India are also two dominant economies that are keen on graduating as developed countries. China has been quite aggressive investing in trending technologies and blockchain has been among its focuses. India has presence in blockchain but the scene still needs to mature. Other tech hubs would do well expanding their views beyond bitcoins and payments.

As it currently stands, blockchain tech is empowering startups in two major ways. First, blockchain has brought new opportunities for ventures to explore new business models. Second, the technology allows startups to secure significant funding. With such a powerful technology available for use, every country’s tech hub is now poised to drive economic growth.

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