Revisiting Amazon Move Into DLT With Quantum Ledger Database And Managed Blockchain

Amazon has recently provided some more information about two of its blockchain-related projects. They are the Amazon Managed Blockchain and the Amazon Quantum Ledger Database.

The preview of these new products points out that they are still in a very early phase, but that Amazon is getting consistently more interested in the blockchain technology and that it plans on using it more and more in the near future.

During the presentation, two aspects were especially showcased: the immutability and the verifiability of the blockchain technology. People can use it to enter immutable records and easily verify them in a decentralized manner. This trust aspect is why the company is so interested. Several other companies can use this technology for many purposes.

One caveat of the presentation is that Amazon keeps using the term “quantum ledger” while quantum technology is still not here, which means that it is more of a buzzword than anything else.

The so-called quantum product (see here) was created for cases in which a complete blockchain is not needed, only parts of it. In this case, some of the immutable technology can be used, but in a more centralized way, so that a single entity controls the data. What there is of something really new here is that the database allows for inserts, but not for deleting information.

Amazon Managed Blockchain, (see here) on the other hand, is the real thing. A complete core blockchain product that can be used by companies that are interested in private blockchains. This platform is set to initially have support for Ethereum and the Hyperledger Fabric technology. While Hyperledger is for companies that want to create a private network, Ethereum is better for creating open ones.

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Author: Gabriel Machado

TON Final Test Run To Be Released As Developers Say Network Is Compatible With Ethereum

Telegram’s blockchain and cryptocurrency projects, one of the most anticipated in the industry, is approaching its release date. Telegram is one of the biggest social media companies, and it is popular for its privacy and encryption functions. The social media giant’s crypto project is expected to be one of the most valuable in the crypto world when it goes public.

The mainnet launch for the blockchain project, named the Telegram Open Network (TON), is expected on the 31st of October. TON’s trial users expect to receive the node running code on the 1st of September as Telegram moves into the final phases of the project’s preparation.

Comparability with Ethereum

TON Labs has been tasked with developing the network and the tools that developers will need to build new systems of their own. The tech startup received considerable support from investors during Telegram’s token sales, and this has allowed the tech firm to develop more tools for developers.

Various tools have been announced, and each one of these will appeal to a different sector of the blockchain and crypto industry. TON Labs recently announced a Solidity compiler, which will allow Ethereum based applications to be built and run on TON.

Alexander Filatov, CEO of TON Labs, said that the Solidity compiler for Ethereum is one of the most challenging things they’ve had to build. The tool will allow developers in the Ethereum community to move everything they have written for Ethereum to TON. TON Labs has been testing Solidity compiler since July and TON trial users can expect to access this tool.

Final Pretest

The TON version being released to TON trial users on the 1st of September is expected to be the last in a series of tests run by TON Labs.

Filatov said that this test run might be the most important of all the ones they’ve run because they have limited time to fix any bugs that may be identified during the tests. There is little time between the release of this test run and the launch of TON’s mainnet.

According to the user agreement signed between Telegram and its investors, the social media company will have to refund all those who bought tokens if the mainnet does not launch on the 31st of October. This makes the trial run being released on the 1st of September even more important because if anything goes wrong, it puts Telegram in a predicament.

Through its token sales, Telegram raised about $1.7 billion as investors poured in to get a piece of the highly anticipated project.

Telegram’s tokens, named GRAM, are already trading on unauthorized markets where investors are already fetching high profits for the tokens before the network is launched officially. Telegram warned that these investors are in contravention of their user agreement and they risk losing their entire share of the GRAM token.

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Author: Ali Raza

Ex-Coinbase Executive To Lobby For Facebook’s Libra and Its Blockchain Policy

Facebook is trying to approve its new Libra projects at all costs. Now, the social media giant has started to hire several lobbying firms to influence U. S. lawmakers to approve its newest token Libra.

FS Vector was the latest of the advisory companies hired by Facebook. The company will lobby with the Congress for the approval of the token and John Collins, who was the former head of policy of Coinbase, will be the one leading the Facebook account.

Before working on Coinbase, Collins was a part of the U. S. Senate Committee on Homeland Security, so he probably has some important contacts in Washington, something that Facebook would certainly use.

This comes at a time in which Facebook is striving to appease regulators and lawmakers. Maxine Waters, a Democrat from California, for instance, has recently talked with the Libra Association and affirmed that she was still unconvinced about the plans of the social media giant for its token. This opinion is shared by many regulators around the world.

In order to clear the air and get some allies, Facebook has started its hiring spree. Several lobbying firms were hired before FS Vector entered the team. According to reports from the news site Politico, Facebook had spent at least $7.5 million with companies such as Cypress Group and the Sternhell Group before this month.

Other companies that were also hired by the company include Off Hill Strategies and two law firms, Bryan Cave Leighton Paisner and Davis Polk. Now, we have to wait and see if all this effort will pay off or not.

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Author: Gabriel Machado

Eleven New Crypto Projects Join Messari Disclosures Registry Including ADA, LSK and Beam

A total of 11 new projects have announced this week that they joined the Messari Disclosures Registry. The registry includes several projects, the most popular new ones are Cardano, V Systems, Lisk and Beam, all which are in the top 100 crypto projects by market cap. Akropolis, Fusion, Keep, Permission, Orbs and Elrond were also added.

With these new projects becoming a part of it, the registry now has a total of 54 projects. Back when it was launched at the end of last year, the Messari registry had only 12.

The Messari Registry

The registry was created to bring more transparency to the crypto market. Each project can decide on its own whether to participate. If the project does participate, they disclose information about their business to investors, which can check the database at any time before they invest in it.

According to the founder of Messari, Ryan Selkis, being able to find basic information about cryptocurrencies is essential to make good investments, which are able to let the industry move forward.

It was in order to distribute information freely that the registry was first created back in 2018. With the new companies that were listed now, the Messari Disclosures Registry is set to become even more important. Cardano alone has a market cap of over a billion USD and a large community, so its entrance is bound to attract more curious investors to the database.

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Author: Daniel W

Fidelity International Will Soon Enter the Cryptocurrency Space with Digital Asset Trading Desk

Fidelity International Will Soon Enter the Cryptocurrency Space with Digital Asset Trading Desk
  • More companies in traditional finance sector are launching projects that connect them with the cryptocurrency industry.
  • Fidelity International exec Anne Richards discussed a crypto-based trading game within the company while at a conference.

With the increased popularity of the cryptocurrency market, it should come as no surprise that traditional finance companies are choosing sides. Fidelity Investments is one of the more innovative companies, as their subsidiary Fidelity International gets closer to entering the cryptocurrency space. According to reports from Ethereum World News and others, Fidelity Investments has already set up Fidelity Digital Assets, a custody operation.

Reports from Financial News indicate that someone close to this matter confirmed the company’s interest in blockchain technology. The same source added that the trading desk for the company is almost prepared to go live. The fact that the company has its own fantasy crypto trading game for staff at the international extension is proof enough that the fund manager is welcoming to cryptocurrency.

Players of this game have to build a crypto portfolio, starting with £10,000 in virtual money. To be eligible for cash prizes, the participants have to gain the biggest returns. Presently, there are already two-thirds of the 1,200-member staff at Fidelity International that have gotten involved.

This trading game was only recently publicized by chief executive Anne Richards at an industry conference last month. Richards stated,

“We have a bitcoin trading game that we use internally, as a way of teaching people about distributed ledger technology and digital tokenization, which ultimately will be an important part of the whole financial system going forward.”

Based on these comments, and if Facebook had anything to do with the recent surge in Bitcoin’s price, then Fidelity’s impact on Bitcoin’s price could show a similar effect.

Many institutions are starting to get involved in the cryptocurrency market, and specifically Bitcoin, which is why some experts believe that they were the key buyers on the sidelines during the crypto winter. With Fidelity’s work in their Digital Assets platform, they will be helping other institutions to get involved in the sector.

If Fidelity were to finally launch products or even just use distributed ledger technology, it would easily establish the brand as a leader in the fund management industry. There are still major legacy costs in this industry, and paper documentation is still maintained. Interoperability concerns are a big reason why the implementation of blockchain has been delayed for this long but choosing to get involved could easily be a big moment for the whole financial sector.

Furthermore, Fidelity’s actions could impact both retail and institutions, which could bring on the launch of mutual funds. However, as the SEC continues to shut down the idea of implementing an exchange-traded fund, these efforts could ultimately be thwarted.

Teana Baker-Taylor, the executive director with Global Digital Finance, spoke with Financial News about the plans that Fidelity International is involved in. Baker-Taylor said,

“This signals to the market that traditional financial investment in digital assets is likely to increase and they intend to maintain their institutional first-mover advantage, providing access to digital assets to their mutual fund and pension clients, as well as private and institutional investors.”

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Author: Krystle M

Bitcoin Pre-Paid Cards with a Conversion Option for 10 Fiat Currencies by The White Company & Paxful Launches

Bitcoin Pre-Paid Cards with a Conversion Option for 10 Fiat Currencies by The White Company & Paxful Launches

Partnerships have continued to be a fundamental indicator of growth and stability for projects within the blockchain and cryptocurrency space. One recent collaboration by Paxful, a digital coin exchange, with The White Company (TWC) is expected to tap more unbanked individuals into crypto.

TWC which is a New York based Fin Tech firm specializes in developing blockchain-oriented products for both supply and demand stake holders interested in leveraging the new technology.

This move is a significant milestone for the crypto space as clients will have the option to convert their BTC to 10 different fiat currencies. So far, the most pegged currency (USD) is featured amongst others like the Australian dollar and Swiss Franc.

Elizabeth White, founder and CEO of The White Company, noted that the partnership is set to facilitate the inclusion of millions into the digital asset ecosystem through Paxful’s P2P market. She went on to add that;

“Together we can bring all the benefits of banking without the high costs to developing countries and the unbanked, as well as promote the usability of cryptocurrency worldwide.”

Bitcoin; The Game Changer in Banking!

The on-boarding process for this platform is quite simple, clients will only be required to provide an email address and in turn receive a card with virtual prepayments.

Users will then have to make a conversion from digital currency (BTC) to fiat so as to easily use their designed cards for online purchases and service payments.

In addition, the clients can also ask for a physical card delivered to them. These will be efficient in ATM withdrawals and physical purchases from retailers. This technology appears quite lucrative to big city folks but the main targets by Paxful and TWC are developing economies whose population is mostly unbanked.

Both entities noted through a statement that their collaboration will mostly have a positive impact in African and Latin American markets where a bigger part of the population is unbanked.

Ray Youssef, the Co-founder and CEO Paxful, echoed that the firm’s mission of liberating financial services around the globe just acquired new ground with this partnership;

“Many of our customers are unable to become banked. By allowing them to change bitcoin into prepaid debit cards we are giving them the chance to participate in both the current financial system and the digital economy.”

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Author: Bitcoin Exchange Guide News Team

“Hard Core Fund” Collects 50 BTC In Order To Support Bitcoin Core Developers

“Hard Core Fund” Collects 50 BTC In Order To Support Bitcoin Core Developers

One of the main problems of developing for cryptocurrency ecosystems is funding. When the projects are not necessarily for profit and are decentralized, how do you fund them? This was also the question that was on Dovey Wan’s head.

Wan is a venture capitalist from Primitive Ventures and she considers this to be one of the main challenges of 2019 for crypto devs. Now, in order to bridge this gap and solve the problems, she has decided to gather 50 BTC (around $450,000 USD) in order to help them.

The fund will be managed by Hard Core Fund, a new initiative that was originally created by Wan and Pan Zhibiao, a former Bitmain employee. The idea is to support BTC Core developers such as Luke Dashjr and Ben Woosley, for instance.

Anyone can donate to the fund and the developers can send an email in order to outline their work and receive some sum of money for their effort in developing the technology.

According to Wan’s recent interview with Coindesk, she has collected 50 BTC for the fund so far. The fund would obviously need more money in order to fund more full-time Bitcoin developers, which is the objective. At the moment, less than full-time 10 developers are being a part of the project.

She also affirmed that, in the future, she expects more companies to be supportive of developers. Several companies such as Chaincode Labs, Blockstream and Square already do it and she affirmed that companies such as Microsoft are possibly going to become the next ones.

This fund, however, is mostly an independent initiative in order to fund these people. She affirmed that having a diverse funding model is very important because people will still be able to continue their work even if they lose one of their incomes.

The main idea is that the fund has no say on what the developers are going to create, which is important in order to maintain the decentralization of their work.

In order to be eligible for the fund’s money, you need to show your contributions to the network and they will be judged on the merits of whether you are constantly working to improve it or not. All information for submissions can be sent to Wan via GitHub or to the email of Primitive Ventures.

She affirmed that the company is currently looking for experts that have a deep understanding of the technology or that can be trained and coached by Wan.

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Author: Gabriel Machado

Global Freight Forwarding Provider, Panalpina, Looks to Blockchain to Optimize Air and Ocean Projects

Global-Provider-of-Freight-Forwarding-Panalpina-Involved-in-Blockchain-Pilot-Projects-Within-Air-and-Ocean-Freight-Fields

Global Provider Of Freight Forwarding, Panalpina Involved in Blockchain Pilot Projects Within Air And Ocean Freight Fields

Forwarding and Logistics Services provider, Panalpina has been involved in blockchain pilot projects reports Coin Telegraph. As per the news outlet, the firm revealed the news on Tuesday, June 11, indicating that the aim of said projects is to further enhance supply chains.

This isn’t the first of its likes, as the logistics firm has since committed to two blockchain pilots entailing air and ocean freight fields. Some of the key focuses of the projects include emphasizing on industrial goods and handling of office supplies.

The end result, as the team is hopeful of, is to reduce associated costs, and this will be supposedly be attained by digitizing documents and using cloud as a medium of storage.

According to the Senior Venture Development Manager of Panalpina Digital Hub, Cedric Rutishauser, the initial stages mostly require digitalization with very little attention given to blockchain technology. Since the commencement of the projects, the team allegedly has witnessed drastic improvements, primarily regarding convenience, speed and reduction in courier costs.

Rutishauser noted that only 15% of the entirety of said projects, at least for the moment, utilizes blockchain technology. He further expounded on this point, indicating that despite being a small number, its implementation has also resulted in benefits. In particular, he was quoted saying:

“The real advantage of blockchain lies in the ‘single source of truth.’ Improved data sharing between trade partners creates more transparency, with clear ownership and responsibility for each documented step in the supply chain.”

As for how the projects will develop moving forward, the team at Panalpina anticipate indulging themselves in other areas that emphasize on use cases, some of which includes, “pharmaceuticals, spare parts and ocean core processes,” again a goal set for long-term use. These are in addition to the previously focused areas: efficiency, authenticity, cargo insurance and visibility.

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Author: Nirmala Velupillai