Visa’s CEO told CNBC cryptocurrencies did not pose any threat to his company in the short and medium term. He is ready to embrace crypto when it goes mainstream.
- Bitcoin price is trading above the $6,385 and $6,355 support levels against the US Dollar.
- There is a crucial contracting triangle formed with resistance at $6,420 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The price could slide towards the $6,355 support if there is a break below $6,400 and $6,385.
Bitcoin price is struggling to move above $6,420 against the US Dollar. BTC/USD could react to the downside and it might even rested the $6,355 support.
Bitcoin Price Analysis
During the past three sessions, there were mostly range moves above the $6,385 support in bitcoin price against the US Dollar. The BTC/USD pair formed a decent support near the $6,385 level, but it struggled to gain traction above the $6,420 and $6,430 levels. The last swing low was formed at $6,386 before the price moved higher. It spiked above the 50% Fib retracement level of the last decline from the $6,449 high to $6,386 low.
However, there was no close above the $6,425 level. The price was also rejected near the 61.8% Fib retracement level of the last decline from the $6,449 high to $6,386 low. At the moment, the price is trading near the $6,400 level and below the 100 hourly simple moving average. More importantly, there is a crucial contracting triangle formed with resistance at $6,420 on the hourly chart of the BTC/USD pair. Therefore, the pair is likely to make the next move either above $6,420 or below $6,385. If there is an upside break, the price may revisit the $6,450 level.
Looking at the chart, bitcoin price is under pressure below $6,420 and the 100 hourly SMA. If there is a downside break, the price is likely to extend losses towards the $6,355 support.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is about to move into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is currently just below the 50 level.
Major Support Level – $6,385
Major Resistance Level – $6,420
The post Bitcoin Price Watch: BTC/USD Closing In Towards Next Move appeared first on NewsBTC.
The Thai Securities and Exchange Commission has issued an investment warning against ICOs operating in the country without its recognition, registration and supervision. The Bangkok Post reports that Thailand’s premier markets regulator is taking action after discovering a number of unregistered coin sales being promoted in Thailand through social media platforms like Facebook and Youtube. “High Investment
The post Thailand Regulator Issues Strong Warning Against Unregistered ICOs appeared first on CCN
The vice president of Russia’s financial monitoring service supports wide-reaching regulatory oversight of cryptocurrency circulation.
All member states of the Financial Action Task Force (FATF) should adopt its recommendation to control the exchange of cryptocurrency, their storage and more, Russian daily news outlet Izvestia quoted a government regulator as saying Monday, Oct. 29.
The Paris-based FATF is an intergovernmental organization established in 1989 with the aim of developing standards to fight money laundering and other illicit forms of financing.
Earlier in October, the FATF announced changes to its standards in regards to digital currencies and businesses involved with crypto-related activities. In its updated guidelines, the FATF notes that virtual asset service providers should be subject to anti-money laundering (AML) and counter-terrorism financing (CFT) regulations, as well as registered and monitored for due diligence compliance.
Speaking to Izvestia, Pavel Livadny, vice president of the Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring) appeared eager to implement controls for crypto transactions worth over 600,000 rubles (about $9,120).
As per the recommendations of the FATF, Livadny said that cryptocurrencies “can circulate and be exchanged digitally, and be used for payments and investments.”
Accordingly, authorities should bring those activities under regulated control, as well as monitor storage, issuance, and exchange into other crypto assets, Izvestia reports.
At present, no hard-and-fast regulation governing cryptocurrency exists in Russia, with a draft bill to formalize the gray areas of the economy still winding its way through parliament.
Livadny added that changes to the Russian law regarding crypto-related monitoring would take effect “in the near future.”
Ethereum price formed support near the $202.80 level and recovered. ETH/USD is facing a tough challenge near the $206.00 resistance.
- Ethereum price has formed a solid support near the $202.80 level.
- ETH/USD is trading inside a triangle pattern with resistance at $205.50 on the 30-minute chart.
- The price needs to surpass the $205.50 and $206.00 resistances for an upward acceleration.
Ethereum Price Analysis
After forming a short term top at $210.50, Ethereum price trimmed most gains. There was a downside reaction and the price traded towards the $203.00 level.
Click to Enlarge Chart
Looking at the 30-minute chart of ETH/USD, the pair traded as low as $202.80 and later started consolidating losses. A solid support base was formed at $202.80 and later the price corrected a few points higher.
It moved above the 23.6% Fib retracement level of the last decline from the $210.50 high to $202.80 low. Moreover, there was a break above the $204.50 level and the 25 simple moving average (30-min).
The price spiked towards the $206.00 resistance, which prevented further gains. An intraday high was formed at $205.89 and the price even failed to test the $206.00 level. It seems like the price is trading in a tight range with support at $202.80 and resistance near $205.80.
More importantly, the price is trading inside a triangle pattern with resistance at $205.50 on the same chart. If there is an upside break above the range resistance at $205.80, the price may test the 50% Fib retracement level of the last decline from the $210.50 high to $202.80 low.
Once ETH/USD settles above the $206.50 level, buyers are likely to push the price back towards the $210.00 resistance. On the flip side, if the price fails to break the $205.80 or $206.50 resistance, it could decline towards the range support at $202.80.
An intermediate support is at $204.60 and the 25 simple moving average (30-min). Overall, Ethereum price could move into a positive zone once there is a break and close above the $205.80 and $206.50 resistance levels.
The market data is provided by TradingView, Bitfinex.
Ripple price is trading with a positive bias above $0.4575. XRP/USD buyers need to clear the $0.4680 resistance for an upward move towards $0.4780.
- Ripple price has formed a solid support base near $0.4575 level.
- An ascending channel is formed with support near the $0.4610 level on the 30-minute chart.
- XRP price remains buy on dips near the $0.4600 and $0.4610 levels.
Ripple Price Analysis
After trading above the $0.4800 level, ripple price started a downside correction below the $0.4700 level. The price traded below the $0.4640 and $0.4600 levels before buyers appeared near the $0.4580 level.
Click to Enlarge Chart
Looking at the 30-minute chart of XRP/USD, the pair traded as low as $0.4566 recently and later started trading in a range. The chart suggests that there is a solid support base formed near $0.4575 level.
Recently, the price moved higher and broke the $0.4620 level and the 25 simple moving average (30-minute). Moreover, there was a break above the 23.6% Fib retracement level of the last decline from the $0.4853 high to $0.4566 low.
However, the price was not able to stay above the $0.4660 level and later revisited the $0.4640 level and the 25 SMA. At the outset, there is an ascending channel formed with support near the $0.4610 level on the same chart.
If the price dips from the current levels, it could find support near the $0.4610 level. Below the channel support, the price may well revisit the key $0.4575 support area.
On the upside, there is a strong resistance formed near $0.4680, channel’s upper trend line, and a bearish trend line. Therefore a proper break and close above the $0.4680 level could push the price back in a positive zone.
The next resistance is near the $0.4700 level and the 50% Fib retracement level of the last decline from the $0.4853 high to $0.4566 low. Above $0.4700, ripple price will most likely revisit the $0.4840 swing high in the near term. On the flip side, a downside break below $0.4610 and $0.4575 may ignite sharp bearish moves.
The market data is provided by TradingView, Bitfinex.
The post Ripple (XRP) Price Analysis: Sellers Losing Control appeared first on Blockonomi.
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A hack managed to empty out most of the wallets of Canada’s MapleChange, with Bitcoin and Litecoin lost irretrievably.
Coincheck, the Japanese crypto exchange that suffered a $520 million hack in January, has reported increased losses for Q3 2018.
Walletontwikkelaars van Samourai Wallet hebben in samenwerking met goTenna een applicatie ontwikkeld — TxTenna genaamd — die het versturen van bitcointransacties mogelijk maakt zonder een directe internetverbinding. Hiervoor maken ze gebruik van een mesh netwerk, waarbij data peer-to-peer verstuurd wordt.
Vrijwel iedereen maakt gebruikt van internet. Dit is mogelijk middels een ISP, een internet service provider, die zorgt dat jij op het wereld wijde web kan surfen. Deze ISP's zijn dus centrale partijen die in theorie en in praktijk, zoals de afschaffing de net neutraliteit in Amerika, kunnen bepalen wat toegankelijk is op het internet.
Met mesh netwerken werkt dit anders. Hierbij wordt geen centrale partij gebruikt om data te delen, maar staat iedereen direct met elkaar in verbinding. Dit lijkt op het peer-to-peer netwerk van Bitcoin, waarbij nodes ook direct met elkaar communiceren. Het is met een mesh netwerk dus lastiger om censuur toe te passen. Men kan data, zoals een bitcointransactie, direct van node naar node sturen zonder gebruik te hoeven maken van het internet. Deze nodes kunnen kleine devices zijn die in de broekzak passen, of antennes bovenop gebouwen. Alle apparaten die de mogelijkheid hebben om signaal te kunnen verzenden en ontvangen zouden hier in theorie voor gebruikt kunnen worden.
De nodes kunnen ook gewoon een connectie maken met een ISP, wanneer dit gewild is. Wanneer een node geen verbinding heeft tot een ISP kan een bitcointransactie via het mesh netwerk naar de dichts bijzijnde node worden gestuurd. Heeft deze node ook geen verbinding tot het internet? Dan stuurt deze het weer door tot de volgende node. Dit herhaalt zich tot de bitcointransactie bij een node terecht is gekomen die de data het internet op kan sturen.
Om gebruik te kunnen maken van het GoTenna mesh netwerk, en dus de applicatie, dient er wel specifieke hardware aangeschaft te worden; de goTenna Mesh. Wellicht dat het in de toekomst mogelijk wordt om de applicatie ook voor ander andere mesh netwerken te kunnen gebruiken, waardoor er geen afhankelijkheid meer ontstaat van één leverancier.
There is plenty of green across the top 20 cryptocurrencies by market cap at this stage. Although this mainly pertains to minuscule gains, it is evident something interesting might happen later this week. For VeChain, a new round of positive developments can easily catapult the price back to $0.015.
VeChain Price Could Get a big Nudge
It has been a relatively boring weekend for VeChain, although that applies to virtually all other cryptocurrencies as well. Not much has happened throughout either September or October so far, with no improvements to be noted in the near future either. For VeChain, some of its most recent developments could easily shake things up a bit.
Over the past 24 hours, the VeChain price has gained 1.4% in USD value and just over 1.3% in BTC value. This latter aspect is rather promising, as it confirms the altcoins will begin gaining on Bitcoin once again. Once that happens, there is usually some exciting momentum for traders and speculators to take advantage of in the following hours.
The first major announcement pertaining to VeChain is how the OceanEX exchange will be going live in the next few days. This trading platform is built on VeChain’s technology. All users are eligible for an airdrop, which is pretty interesting to keep an eye on. New exchanges can improve overall liquidity and create a more robust ecosystem.
Did you know what`s coming next month? #OceanEx Exchange is coming next week with a 50 mln $OCE CryptoCup #airdrop is prepared for all participants. #OCE powered by $VET#VET #VeChain #GoVeChain $btc $eth $xrp $bch $xlm $xem $ada $tron $rvn https://t.co/31qieOAeVv pic.twitter.com/JvNSWimJZB
— RoNo ($VET man) (@roy_noom) October 29, 2018
Secondly, it seems VeChain is pushing into the video gaming industry. Through the Plair platform, a product demo based on this technology has been shared with the public. While it remains a bit unclear if and when this platform will make a mainstream impact, the concept itself has a lot of promise first and foremost.
— SludgeFeed (Always Giving Away NEWS) (@SludgeFeed) October 29, 2018
The final bit of news comes in the form of Chinese President XI delivering a speech this week. That speech, while not necessarily apparent at first glance, may very well have some major implications for VeChain and its underpinning technology. The speech will partially focus on the VeChain-based vaccine traceability solution.
President Xi to deliver speech at #CIIE opening ceremony.
The VeChain vaccine traceability solution will be shown alongside other #VeChainThor Powered solutions at the China International Import Expo — one of the highest-profile import/export conferences in the world. $VET $VTHO
— VeChainThor Community (@VechainThorCom) October 29, 2018
All of these bits of news can have short-term VeChain price implications. Whether or not it will effectively lead to noteworthy market changes, is a very different matter altogether. These markets remain subdued first and foremost, even though there is no real reason why all markets should remain at this low value for much longer. This week could be rather interesting for VeChain moving forward.
The post VeChain Price Set for big Boost Through OceanEX, China, and Video Gaming appeared first on NullTX.
BitGo, Kyber Network and Republic Protocol have joined forces to introduce WBTC – Ethereum-based cryptocurrency backed by Bitcoin.
Chinese cryptocurrency exchange OKex has decided to delist 58 crypto pairs with “weak liquidity and trading volume”.
- ADA price remains in a downtrend, with a solid resistance near the $0.0745 level against the US Dollar (tethered).
- There is an important bearish trend line formed with resistance at $0.0740 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
- The pair is likely to struggle to clear the $0.0740 and $0.0745 resistances in the near term.
Cardano price extended losses against the US Dollar and Bitcoin. ADA/USD remains at a risk of more losses towards the $0.0700 level.
Cardano Price Analysis
After forming a high near the $0.0770 level, cardano price started a downside move against the US Dollar. The ADA/USD pair declined and broke the $0.0750 and $0.0740 support levels. There was also a close below the $0.0750 level and the 100 hourly simple moving average. The decline was such that the price broke the $0.0742 support as well and traded as low as $0.0729 recently.
It is currently consolidating losses above $0.0730. An initial resistance is near the $0.0740 level and the 23.6% Fibonacci retracement level of the last decline from the $0.0770 high to $0.0729 low. There is also an important bearish trend line formed with resistance at $0.0740 on the hourly chart of the ADA/USD pair. Above the trend line, the 100 hourly SMA is positioned near $0.0742. Therefore, a break above the $0.0740 and $0.0742 resistances won’t be easy. Above the 100 hourly SMA, the price could recover towards the $0.0754 and the 61.8% Fibonacci retracement level of the last decline from the $0.0770 high to $0.0729 low.
The chart indicates that ADA price is clearly following a bearish structure below $0.0750. If there is a downside break below the recent low, the price might clear the $0.0720 support. The next main support for buyers is near the $0.0700 level.
Hourly MACD – The MACD for ADA/USD is slowly moving in the bullish zone.
Hourly RSI – The RSI for ADA/USD is just near the 50 level.
Major Support Level – $0.0720
Major Resistance Level – $0.0742
The post Cardano Price Analysis: ADA/USD Sliding Towards $0.070 appeared first on NewsBTC.
Critics call British authorities’ plans to increase regulatory control of Bitcoin and cryptocurrencies a “very blunt instrument approach.”
U.K. businesses and analysts have hit back at government plans to regulate cryptocurrencies and related technology, describing them as a “blunt instrument approach,” British daily news outlet the Telegraph reported Monday, Oct. 29.
Calls to step up the level of power the country’s finance regulator, the Financial Conduct Authority (FCA), has over cryptocurrency — which Cointelegraph reported on in September — allegedly focus on consumer protection and anti-money laundering (AML) policy.
Now, a joint report from the British Business Federation Authority (BBFA), venture capital fund Novum Insights, and cryptocurrency exchange TodaQ has urged caution about overly far-reaching regulation.
According to the document seen by the Telegraph, “bad regulation is worse than no regulation at all,” with the implication of knock-on effects for the wider U.K. fintech scene.
“It is a very blunt instrument approach and I haven’t seen this in other countries,” BBFA chief executive Patrick Curry told the publication, adding:
“The use of this technology is still a voyage of discovery and these technologies are being refined for different types of use. My concern is the law of unintended consequences.”
The Telegraph reports that the U.K. has so far been slow to get to grips with its domestic cryptocurrency ecosystem, despite London being home to some of the industry’s well-known names such as trading platform eToro and exchange Bitstamp.
In March, the FCA initiated a cryptocurrency “task force,” the premise of which was to assess “what to do about” the phenomenon, FCA chairman John Griffith-Jones said at the time.
Cryptocurrencies, he added, had “the potential of causing consumer harm unless brought within the regulatory perimeter.”
A new EOS protocol, called EOS21, allows the Ethereum and EOS blockchains to communicate with each, and “teleport” Ethereum…
The post New EOS21 Protocol Allows Ethereum Tokens to be “Teleported” to the EOS Blockchain appeared first on Invest In Blockchain.
Tether has had a difficult month, and rivals are eyeing its position as the top crypto “stablecoin.” Here’s how the contest plays out in the data.
Israeli Blockchain Association, an organization whose primary objective is to educate, develop and empower Israel’s distributed ledger technology (DLT) community, encourage best practices and connect it with global leaders in the blockchain space, has released its third Israeli Blockchain Startup Map. According to a recent press release by the organization, there are now more than 200
The post Israel Has Over 200 Domestic Blockchain Startups: Industry Body appeared first on CCN
The start to this new week of cryptocurrency trading is not necessarily off to a bad start whatsoever. In fact, it would appear things are looking somewhat promising for specific currencies and assets on the market. The XRP price continues to hover near $0.46 for some time now, yet it seems the push to $0.5 is not materializing at this time.
XRP Price Can’t Break Resistance
It has become more than apparent a lot of cryptocurrencies have their values subdued for a very long time now. That is primarily because Bitcoin seemingly can’t hit its stride, yet it appears most altcoins suffer from a genuine lack of interest. This has created a very boring market to watch, and it seems the momentum may not turn around anytime soon.
For several weeks now, it seemed as if the XRP price would hit $0.5 again and turn it into a new level of support. That has not happened to date, as any push upward is met with sideways and slightly bearish trading momentum first and foremost. For XRP, there is no reason to see the value this low. Surprisingly, its circulating supply has been increased by several hundred thousand XRP over the past few days.
Looking across social media, it is evident Ripple’s native technology remains of great interest to the right individuals. More specifically, NAB and Westpac are now part of the project’s global payments network, which further confirms Ripple is doing a lot of things right. This may not impact the XRP value directly, yet still marks a very critical milestone.
I will just state look at the project leader and his team. Just see if they can distinguish between btc and blockchain? also look at Turnbull before pm as the failed nbn minister and pm. Then read this https://t.co/ZK7Ugu4LVP and decide if #blockchain and #xrp is not useful?
— MikeS (@shadowdale) October 29, 2018
There are those who are getting a bit tired of Ripple’s show” which seems to feature a major announcement or development every single month. While it is true most currencies don’t have anything to announce for months on end, that doesn’t mean Ripple can’t do things differently. It is a bit unclear what November will bring for Ripple and XRP, but BlockHaven seems to be excited.
— Johnny W#XRP (@XrpTheBase) October 29, 2018
In more speculative news, it would appear some traders look at XRP with renewed interest. More specifically, they see a bullish pattern foming for RIpple’s native asset, even though that will not necessarily result in any real price changes. Given how the uptrend has failed to materialize for several weeks now, it seems unlikely things are going to turn around all of a sudden.
Crypto Update: XRP Conceals Strong Bullish Signals
— Willy Wonka (@WillyWonkaXRP) October 28, 2018
Several things are working in favor of XRP at this time. Its trading volume has been very strong for some time now. The currency is still in high demand among traders and speculators alike. At the same time, it seems there is plenty of negative pressure on the market to keep the value down for an extended period of time. An interesting week lies ahead, regardless of how the market evolves.
The post XRP Price Doesn’t Budge Despite Ripple’s Payment Network Growth appeared first on NullTX.
Both entities have signed cooperation agreements with the joint IBM-Maersk distributed ledger technology platform TradeLens.
A U.S. household cleaning supplies manufacturer will open several recycling centers in Indonesia, granting tokens to citizens for plastic waste collection.
U.S. manufacturer of household cleaning supplies SC Johnson and environmental organization Plastic Bank will open several plastic recycling centers in Indonesia, offering locals tokens for waste collection, according to a press release published Sunday, Oct. 28.
SC Johnson, which owns such brands as Glade, Ziploc and Mr. Muscle, has revealed recent scientific data on the plastic pollution of the ocean, stating that five Asian countries — China, Indonesia, the Philippines, Vietnam, and Thailand — account for more than 55 percent of the plastic waste leaking into the ocean.
With the help of Plastic Bank, SC Johnson will open eight plastic collection centers throughout Indonesia. The first one has officially opened in tourist mecca Bali on Oct. 28, with other centers scheduled to be operational by May 2019. After opening the network in Indonesia, SC Johnson hopes to expand the program to neighbouring Asian countries.
In those centers, local collectors can exchange plastic waste for digital tokens, which can then be used to purchase goods and services via a decentralized system. The press release notes that the use of blockchain in distributing tokens could help reduce the risk of loss or theft of remuneration.
This blockchain solution, the companies believe, will not only help combat the ocean pollution problem, but could reduce the poverty level in Indonesia itself, according to founder and CEO of Plastic Bank David Katz.
Blockchain technology is widely used in charity programs owing to its sustainability and high security level. For instance, the United Nations (UN) created a special panel on digital cooperation, which explicitly puts blockchain technology on the agenda.
Recent examples of blockchain use by UN include the UN Women project in Jordanian refugee camps, where fugitives obtain their salaries directly using blockchain. The payments within the program can also be made via a decentralized system where one can purchase food or goods using an iris scan instead of cash or cards.
Decentralized solutions are also used in the environment protection area, especially in the industry of renewable solar energy. For instance, Singapore’s major utility provider SP Group has recently announced the launch of a marketplace for the sale of renewable energy certificates.
- Ripple price traded higher recently and broke the $0.4540 resistance against the US dollar.
- There was a break above a major contracting triangle with resistance at $0.4560 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair is currently trading in a bullish zone above the $0.4540 and $0.4550 support levels.
Ripple price gained traction recently against the US Dollar and Bitcoin. XRP/USD may continue to trade higher as long as it is above $0.4540 and the 100 hourly SMA.
Ripple Price Analysis
After a downside correction from the $0.4740 high, ripple price found support near $0.4450 against the US Dollar. The XRP/USD pair traded as low as $0.4478 and later started a consolidating. A support base was formed near $0.4490 and later the price started an upward move. It traded above the $0.4500 level and the 100 hourly simple moving average. Besides, there was a break above the 23.6% Fib retracement level of the last decline from the $0.4741 high to $0.4487 low.
More importantly, there was a break above a major contracting triangle with resistance at $0.4560 on the hourly chart of the XRP/USD pair. It opened the doors for more gains and the price traded towards the $0.4600 level. However, the price faced sellers near $0.4600 and the 50% Fib retracement level of the last decline from the $0.4741 high to $0.4487 low. The price is currently correcting lower towards the previous resistance at $0.4540 and the 100 hourly SMA.
Looking at the chart, ripple price is trading in a positive zone above the $0.4540 and $0.4550 support levels. As long as the $0.4540 support is intact, there are chances of an upward move above the $0.4600 level in the near term.
Looking at the technical indicators:
Hourly MACD – The MACD for XRP/USD is slightly placed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently placed above the 50 level.
Major Support Level – $0.4540
Major Resistance Level – $0.4600
The post Ripple Price Analysis: XRP/USD Turns Bullish Above $0.4540 appeared first on NewsBTC.
Centralized data servers might not cope with the power AI needs. At best, they can be least slow and expensive. Could blockchain-based decentralized marketplaces for computational power be the answer?
Artificial intelligence (AI) — much like the internet of things (IoT) and blockchain — is set to become a foundational technology. These technologies will not only integrate but could also rely on each other to exist. According to Forbes and Gartner, by 2020, 85% of customer interactions will be managed by AI.
However, AI’s compiling, rendering, and predictive analysis is extremely resource-intensive. Just two years ago it took 26 hours to map a human genome when AI is used in science and medicine. Today it takes around an hour and the computational power do so is still substantial. Centralized data servers might not be able to cope with supporting wide, daily, application of AI.
Is this What Bitcoin Was Built For?
Blockchain, or distributed ledger technology (DLT), may provide the computational resource AI needs by utilizing the computing power of many machines. In some ways, this is what the Bitcoin protocol was designed to do. Siim Õunap, COO of Savii Digital told Forbes:
One of the little-known reasons behind the creation of the Bitcoin protocol was to get enough computing power to solve complex mathematical problems that no one computer could by itself. As the process went on, it evolved and virtual currency was born.
Õunap says the Bitcoin blockchain created an ideal solution to combine hardware efforts to power technologies like AI and IoT.
Professor Andrew J. Hacker of Harrisburg University, and founder of Thought AI, a public mineable blockchain for the “AI Superhighway,” says it’s not just computational, or “compute” power that’s important. So too is the data fed to AI and what happens to the results. Hacker says:
Blockchain technologies hold the promise of adding structure and accountability to AI algorithms and the quality and usefulness of the intelligence they produce.
Thought AI uses a 3-layer model of hybrid data, algorithm superstructures and blockchain to efficiently utilize “compute power.”
Decentralizing Computational Power
Currently, geneticists wanting to map genomes might need to outsource the task to centralized processing farms like Amazon’s data centers. Something that is slow and expensive.
Blockchain solutions in development include services like Tatau, a decentralized marketplace for GPU power. Tatau matches a computationally intensive project with connected platform members who will share their system resources. Tatau’s CEO and co-founder Andrew Fraser says:
Demand for AI computation is doubling every 3.5 months with costs increasing proportionately. Traditional suppliers, such as Amazon and Microsoft, use price as a lever to control usage – this restricts innovation.
Tatau has completed a $1.5 million round of seed funding and plans to launch in June 2019. Fraser adds:
We want to unleash AI innovation by dramatically reducing the cost of computing by harnessing the globally distributed GPUs used by crypto miners and making them available for compute by AI companies via our platform.
Another such solution, Golem, is also a decentralized power platform that calls itself the “Airbnb for Computers.” Golem raised $8.6 million in its ICO in 2016.
Blockchain could commoditize and tokenize raw computational processing power in order to deliver resources to other new technologies like AI. Wide-scale hardware development will also be needed to support the arriving age of AI, IoT, and blockchain.
Will blockchain power AI. What do you think?
Images courtesy of Shutterstock.
The post AI Requires the Computational Capacity that Blockchain Provides appeared first on Bitcoinist.com.
Infineon Technologies and XAIN will work together on the implementation of blockchain technology for the automotive sector. The Munich-based semiconductor manufacturer and the Berlin start-up signed a Memorandum of Understanding at the first Infineon Automotive Cybersecurity Forum in Munich, thus moving closer to integrate XAIN technology directly into Infineon microcontrollers.
Together, the companies embark to jointly develop, test, and bring to market Automotive applications that benefit from XAIN’s AI and Cybersecurity Technology and Infineon’s Hardware Technology to meet privacy and resiliency needs in connected vehicles.
Flexible car sharing
When applying key blockchain principles in the automotive industry and combining them with an access delegation framework such as the one proposed by XAIN, unprecedented functionalities can be achieved. These include:
- automated payment transactions,
- keyless vehicle access,
- flexible car sharing,
- in-trunk delivery,
- telematic insurance policies.
In essence, these services become enabled by giving users the ability to flexibly grant access rights to specific parts of their machine data or function.
Combining AI and Blockchain
XAIN is taking things one step further by combining AI and the delegation of access rights via a blockchain network. Here, decisions about access rights to vehicle functions can be made by AI algorithms without having to store private data centrally; in fact, through the eXpandable AI Network, local AI algorithms are able to learn from one another without compromising user privacy.
“Cybersecurity is a key pillar of the data-driven future of mobility. Blockchain technology offers great potential in that regard. Built into vehicles will play a big part in helping to create more secure systems; this inherently presupposes a tight-knit and well-executed integration of software and hardware components. This is what we would like to advance together with XAIN,” said Peter Schiefer, President of Infineon’s Automotive Division.
AI allows drivers to be recognized in the car and Infineon’s AURIX microcontrollers to automatically identify vehicle owners or authorized users and provide them with access to specific functions inside of the vehicle. Blockchain technology enables the secure allocation of access rights for the AI and the microcontroller as well as to check the correct execution.
A hardware security module (HSM) available in all AURIX second-generation microcontrollers provides secure digital key storage that serves to identify the vehicle on a blockchain network, and can perform operations (e.g., hashing or digital signing) quickly and securely.
New hybrid client structure
Creating new data blocks in the blockchain is still a challenge for traditional microprocessors, such as those used in devices which control vehicles. However, XAIN has developed a new hybrid client structure, which is particularly well-suited to resource-constrained devices such as microcontrollers in automobiles.
“We want to make vehicles fully-fledged participants of a distributed network. This is important for offline and real-time capability. It also provides a high level of privacy protection when using AI technologies. By working with Infineon, we want to further advance the application of XAIN AI technologies in the vehicle,” says Leif-Nissen Lundbæk, CEO and founder of XAIN AG.
With the joint Infineon and XAIN solution, access rights to vehicle functions can be delegated in a remote manner via a smartphone app over the blockchain network. This technical approach could enable car sharing without a platform or back office, in which each participant could spontaneously choose to share their car with others whilst at the same time retaining full control over user permissions.
XAIN (eXpandable Artificial Intelligence Network), began as a University of Oxford research project in 2014. Three years later the company was incorporated in Berlin in February 2017. XAIN creates intelligent systems for the sharing of data, resources, and knowledge, that offer a universal, user-centric access control protocol. In May 2018, XAIN received 6 Million Euros in seed funding.
Infineon Technologies AG is a leading global provider of semiconductor solutions. With around 37,500 employees worldwide, the company generated sales of around € 7.1 billion in the 2017 financial year. Infineon is listed in Frankfurt under the symbol “IFX” and in the US in the over-the-counter market OTCQX International Premier under the symbol “IFNNY”.
The “bankization” of cryptocurrencies seems inevitable, as a slew of traditional players enters the crypto-finance market. In the latest development, U.S. payments processor Mastercard filed a patent applying the concept of fractional reserve banking to cryptocurrency payments.
Mastercard Looks Towards Crypto-Finance
Published on Oct. 25 by the U.S. Patent and Trademark Office (USPTO), the application details a novel payment processing method to allow fiat- and crypto-payments for both merchants and retailers, alongside simultaneous storage facilities for both currency types.
Mastercard refers to “blockchain currencies” throughout the document, specifically to manage their “fractional reserves.” The term refers to an age-old banking practice – which allocates only a small portion of stored as “actual cash on hand” while maintaining a more substantial portion for other purposes, such as lending money to other parties and investments.
The company wishes to introduce a “specifically designed” system to protect merchant and consumer information and credentials while providing the benefits of a “decentralized blockchain” and protecting against fraud and theft.
As per details, Mastercard intends to link each blockchain transaction to a corresponding digital framework where the identities of each sender and receiver are stored. Furthermore, the “risk” of each transaction is assessed before completion, presumably to check the creditworthiness of two parties.
The patent goes on to describe how a blockchain-based system may work, which mostly parrots the operational mechanism of cryptocurrencies. However, the patent highlights the use of the same computing mechanism for both fiat- and crypto-transactions, meaning merchants would not require separate devices to accept digital currencies.
Against Cryptocurrency Ethos
Quite humorously, the firm explicitly calls out the possession of private keys by individuals, instead, putting forth the concept of centralized institutions holding one’s keys:
“This may reduce the risk of theft of the consumer’s blockchain currency by trusting the data to financial institutions and payment networks that already specialize in the storage of sensitive financial information.”
The payments giant also refers to Bitcoin’s infamous “ten minute wait time” for processing transactions, and notes the process could be made faster if the risk of each transaction is assessed before the transaction is attempted – by checking for sufficient funds.
Meanwhile, the patent filing may take members of the cryptocurrency community by surprise. Avoiding the concept of fractional reserve banking is one of the primary reasons that Bitcoin was created, and Mastercard intends to apply the method to the growing crypto-finance sector.
Moving away from centralized bodies to process transactions forms another ethos of cryptocurrencies, which Mastercard views as a fundamental problem and hopes to launch its crypto-security solutions.
The post Mastercard Files Patent to Centralize Cryptocurrency Transactions, Calls out Bitcoin’s Wait Times appeared first on CryptoSlate.
The fast-growing blockchain technology sector has created a high demand for talent and this has consequently resulted in blockchain engineers being among the best-remunerated in the tech sector. According to CNBC, the average pay for blockchain engineers in the United States is between US$150,000 and US$175,000 making it comparable to what developers who specialize in
The post US Blockchain Engineers Earning as Much as AI Specialists appeared first on CCN
- ETH price traded higher recently and tested the $203-204 resistance zone against the US Dollar.
- There is a major bearish trend line in place with resistance at $203 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could break the $203 and $204 resistance levels to climb higher in the near term.
Ethereum price is slowly moving higher against the US Dollar and bitcoin. ETH/USD must clear the $204 level to move further higher in the near term.
Ethereum Price Analysis
During the past few hours, there was a slow and steady rise from the $199 swing low in ETH price against the US Dollar. The ETH/USD pair traded above the $200 level and the 100 hourly simple moving average. As a result, there were further gains and the price traded towards the $203 and $204 resistance levels. Sellers emerged and protected more gains above the $204 level.
More importantly, there is a major bearish trend line in place with resistance at $203 on the hourly chart of ETH/USD. The trend line is currently acting as a solid resistance near the $203.-204 zone. The price is currently consolidating near the 23.6% Fib retracement level of the recent wave from the $199 low to $203 high, but it could correct lower below $202. An initial support is near the $201 level and the 100 hourly SMA. It coincides with the 50% Fib retracement level of the recent wave from the $199 low to $203 high. Buying dips in the short term towards the $201 and $200 levels can be considered. The stop in the mentioned case should be below the $199 level.
Looking at the chart, ETH price is showing positive signs above the $200 level and the 100 hourly. However, it must break the $204 level to set the pace for more gains.
Hourly MACD – The MACD is slightly in the bullish zone.
Hourly RSI – The RSI is currently well above the 50 level.
Major Support Level – $199
Major Resistance Level – $204
The post Ethereum Price Analysis: ETH/USD Attempting Upside Break appeared first on NewsBTC.
SP Group, a major company providing electricity and gas in Singapore, has opened a blockchain-powered marketplace for renewable energy certificates trade.
SP Group, a major corporation providing electricity and gas transmission in Singapore, has launched a blockchain-powered renewable energy certificate (REC) marketplace, the company reveals in a press release Monday, Oct. 29.
The platform was unveiled at the ASEAN Energy Business Forum held in Singapore this week. The press release notes that SP Group plans to use blockchain to help the company increase transparency and efficiency. Samuel Tan, chief digital officer of the corporation, further explained:
“Through blockchain technology, we enable companies to trade in renewable energy certificates conveniently, seamlessly and securely, helping them achieve greener business operations and meet their sustainability targets.”
The marketplace will support both local and international RECs — the documents that serve as proof that a particular amount of electrical energy has been produced by solar batteries. The first contracts have already been signed with global real estate developer CDL and multinational banking corporation DBS Bank. Three solar energy sellers — Cleantech Solar Asia, LYS Energy Solutions and Katoen Natie Singapore — are also joining the marketplace.
Singapore is not new to blockchain-powered energy solutions. As Cointelegraph reported in early October, plans for a decentralized peer-to-peer electricity network powered by SkyLedger were announced. The platform will reportedly allow citizens to produce and trade renewable energy.
Decentralized platforms are widely used to back solar energy production and trading. in February, the U.S. state of New York developed the Microgrid project for households who want to buy and sell electricity produced by solar panels. And in September, Australian real estate giant Vicinity announced it will trial a blockchain solutions within its $75 million solar energy program, testing it to supply a shopping mall with renewable energy.