Indian Vehicle Maker Tata Motors Calls For Blockchain Technology Focused on Auto Industry

Tata Motors, an Indian car company, has recently shown some interest in integrating blockchain-based solutions to its cars as part of a new program. According to Business Insider India, the company has just started the Tata Motors AutoMobility Collaboration Network 2.0.

This new program is intended to help the company to develop products related to the industry using solutions based on emerging technology such as artificial intelligence, machine learning and blockchain.

These solutions will be used in several aspects of the industry such as in monitoring the vehicles in real-time, creating a parking marketplace and using algorithms to predict demand more accurately.

Shailesh Chandra, the president of corporate strategy at the company, affirmed that every segment of the industry is currently required to innovate. She believes that we live in an age of quick changes, so the companies need to be prepared to always find the right solutions via in-house initiatives or external partners.

Blockchain and The Car Industry

Blockchain technology is being used all over the world, so it is no surprise that the automotive industry is adopting it as well. According to recent reports, the global blockchain market is set to grow 42.5% per year.

Several companies are already starting initiatives similar to Tata Motors’ one. PlatOn, for instance, created a platform that stores the data of the market and calculates the price of used cars.

Volvo Cars have recently created electric cars which were mapped in the blockchain to prove that they were environmentally-friendly and did not use any kind of child labor.

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Author: Hank Klinger

Waste2Wear Is Using The Blockchain To Turn Ocean Plastic Waste Into Clothes

Some people often accuse Bitcoin of not being environmentally-friendly enough. What they can’t do, however, is to accuse the blockchain technology of not being useful for eco-friendly campaigns. Right now, the Dutch company Waste2Wear is doing that.

Waste2Wear, as you might imagine because of the company’s name, is focused on creating fabrics from waste found in oceans. Now, the company is hosting an exhibition of its products in Paris during the Premiere Vision textile fair.

All the clothing presented during the event are made with recycled materials and they can be traced using the blockchain technology. A whole blockchain tracking system was created so that people can track the materials that were used to create eco-friendly clothes.

One of the main advantages of this technology is that it removes tons of plastic from the ocean. According to the company, several steps have to be taken in order to properly collect the material and finish the product. With blockchain technology, the complete process is tracked at each step, which serves both the company and its clients.

While the clients can understand more about the history of the products, the company can find any inefficiency within the system and remove it.

All the plastic used by the company comes from the ocean and coastal areas near Shanghai. Fishermen are paid to collect the garbage and deliver to the company, which also helps them to get more income. According to Waste2Wear, over three tons of waste are produced every week.

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Author: Gabriel Machado

Consensys and Coinbase-Backed Exec To Create GitHub-Like Platform For Web3

Most developers still use GitHub to share their open-source code. However, some people think that this kind of solution is not ideal when we have an emerging crypto world being born. Because of this, Harrison Hines, the CEO of Terminal, has decided to make his own crypto-version of GitHub.

Terminal, which received $3.7 million USD in investments last year from companies such as Coinbase Ventures and passed by the ConsenSys accelerator program, is ready to launch its own developer hub for decentralized projects.

The idea was to create something similar to GitHub but to make it easier for Web3 developers to deploy smart contracts there. As many projects need to use smart contracts, Terminal will allow them to use them on the platform without having to find another more complicated way first.

Vamsi Alluri, a MakerDAO engineer, was bullish on this idea. According to him, a large ecosystem that constantly needs to use smart contracts would benefit from a platform that was designed specifically for their needs.

Web3 platforms are not really hosted or controlled by a single party, so they really need some specific things in order to work properly. The whole process of using them and programming for them changes.

Terminal is set to offer smart contracts, node services, and direct conduits to external programs; all for free. According to the Terminal executives, it would be considerably cheaper to simply use their already existing infrastructure instead of having to pay to use nodes.

How will the project be maintained? It will use a “freemium” system. People can access all the basic features for free, but if they really like the platform and want to upgrade, they will have to pay.

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Author: Gabriel Machado

Blockchain Tech Will Transform Major Industries Within 10 Years: Gartner Hype Cycle Survey

The blockchain technology is certainly bringing a revolution to the financial world. What some people don’t know, however, is that several other industries are bound to be affected as well. Gartner, a giant of the information technology area, has recently affirmed that the blockchain will change most industries within 10 years.

These remarks were made on a press release that talked about its newest research: 2019 Hype Cycle. The report tries to explain how the blockchain is changing business all over the world.

According to David Furlonger, the vice president of research at Gartner, 60% of all CIOs in the survey expected to adopt the technology despite not knowing what impact it will have. However, the lack of governance is still one of the main issues that are still preventing them from achieving the potential of the technology.

18% of all the banking-related companies plan to adopt the blockchain within the 12 next months or already have done it. Other 15% plan to do it within the next two years.

Furlonger affirmed that the financial industry is already adopting the technology at quite a quick pace. However, other non-financial industries are still needing more efforts before they can be able to use the technology properly as well.

To Gartner, the key to the success of the blockchain is tokenization and decentralization. Several industries could decentralize by adopting this kind of technology and see real business value from these decisions. The authors of the study believe that only a few industries do not benefit from the technology and that the market will grow 42% annually until 2024.

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Author: Gabriel Machado

India’s Proposed Blanket Bitcoin Ban Will Set The Economy Back As Blockchain Devs And Traders Leave

Being too tough on innovation can be a cause for brain drain. At least that is what some crypto specialists in India believe right now. As the government continues its plans to ban cryptocurrencies locally, India is starting to see its first big signs of brain drain happening in the country.

A complete blanket ban as proposed by the government would basically make it inviable for people who specialize in cryptocurrencies to have a place in the country. These people would possibly be experts in the industry could simply move to other places.

The upcoming law could imprison people for up to 10 years for trading cryptos or dealing with them. This is already prompting people in the industry to plan their exodus from the country.

Rahul Jain, for instance, was interviewed by the Economic Times. He works at a local crypto exchange and affirmed that the company wanted to serve Indians first, but they are having trouble to keep a viable business there.

The CEO of WazirX, Nischal Shetty, affirmed that the bill could erode the wealth of millions of people in the country who are already using Bitcoin. Criminalizing crypto assets, according to him, would be a blow to businesses that were operating completely within the boundaries of the law before.

One of the main concerns of the people in the industry is that the country will also lose the chance to participate in a $10 trillion USD industry, which will certainly harm the local economy.

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Author: Gabriel Machado

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

Federal Reserve Chair Jerome Powell Talks About Demand of Central Bank Digital Currencies

The chair of the U. S. central bank (Fed), Jerome Powell, recently spoke about some of the hottest crypto subjects during a forum sponsored by the Swiss Institute of International Studies.

During his presentation, he was asked whether central banks should issue their own centrally-backed cryptos and if they were losing an opportunity for not doing it. Powell answered that the U. S. central bank is not considering this at the moment, just like many other central banks.

According to him, one of the main issues of creating a digital version of the dollar is that it would have to be incredibly secure. It is bad enough that paper money can be counterfeit, so if someone can do it with digital money, it can be even worse. With a proper hack, someone could print as much money as they wanted, so it is hard to really create a project like this one.

This is the main reason why the Fed is not really trying. It is simply a huge effort. Also, he acknowledges that the demand for this simply does not exist yet. The consumers are absolutely not clamoring for a central bank-backed cryptocurrency.

He also spoke about Facebook’s Libra during the forum, affirming that it could become very important very quickly because Facebook simply has a huge user base. In order for something so powerful to exist, it would need to be heavily regulated and supervised constantly. Facebook will not get away with doing whatever it wants with it.

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Author: Gabriel Machado

Bitcoin’s Computing Power Breaks Records At Around 90 Quintillion Hashes Per Second

Bitcoin may not be breaking the records of price, but it is certainly breaking some kinds of records this year. The network has recently seen its computing power go up after its hash power grew 25% in a single week.

Recent data shows how much the hash rate has went up. It overcome 80 quintillion h/s and set new highs at around 90 quintillion h/s. A higher hash rate means that there are more people mining Bitcoin out there. The great this metric is, the more successful the network seems to be. Because of this, the security of the network against 50% attacks is also improved with a high hash rate.

A high hash rate also means other things. For instance, that miners will invest more money in mining, as the mining difficulty goes up when more people are mining. This way, a block is still mined every 10 minutes.

Bitcoin’s Prices Follow the Hash Rate, Keiser Affirms

The main point that really hypes people when the hash rates are high is that prices are generally bound to follow the hash rate. Generally, when the hash rate is going up, we see prices going up some months afterward.

This leads people such as Max Keiser, a prominent Bitcoin investor, to affirm that both the hash and prices are set to go up in the near future. According to Keiser, the political upheaval in the world (the U. S.-Trade War, riots in Hong Kong, Brexit) is fuelling chaos and making prices go up as people are starting to see Bitcoin as a safe haven asset.

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Author: Bitcoin Exchange Guide News Team

Luno CEO: Bitcoin is Dominated by Speculation, Over 90% of Usage is Driven for Investing

Most people know that there is some degree of manipulation in the crypto market. The major question is generally: how much of it there is? Marcus Swanepoel, the CEO of Luno, believes that it is a lot, way more than actual trading, in fact.

According to his recent interview with CNBC, only 10% of all the Bitcoin holders actually use it for “real” transactions. 90% of the users are actually engaged in speculation instead of healthier market activities. They don’t care about BTC and only want to buy it when prices are low and sell it when they’re high.

To him, 90% of the people in the crypto market are speculators trying to get some money by trading the asset. Only 10% of BTC’s user base would have a real long-term view of the asset.

Swanepoel Is Not Completely Against Cryptos

Despite the bold claims that most crypto trading is actually speculation, Swanepoel seems to acknowledge that the market definitely has some potential as an investment. According to him, it really makes sense for people to invest in cryptos, but they need to measure the risk well.

If they only invest a small portion of their assets, they can reap huge rewards later. If the prices go down, at least they have not lost too much money.

His views are shared by many people in the market such as Anthony Pompliano, the CEO of Morgan Creek Digital, and Nelson Minier from Kraken. They believe that while there is still some discussion on whether Bitcoin is really a “safe haven” asset or not, it does not make any sense to have zero exposure to it, as investing at least 1 or 2% of your money on it is a great idea.

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Author: Hank Klinger

This 24-Year Old British Software Developer Accepts 100% Of His Salary In Bitcoin (BTC)

Many people have already started putting some of their savings in Bitcoin, however, there aren’t many who accept their entire salary in BTC. Although, there is a rising wave who people who dare to do this. Live a life that is free from the control of banks and transfers money with minimal transaction fees across the globe to whomever they please.

Zakk Lakin, a British software developer is one such example of this. Lakin currently works as a developer in CoinCorner Ltd. CoinCorner is a company that allows you to buy Bitcoin instantly. While it isn’t exchanged in the sense of a dedicated trading venue, it is an entry-level service, which allows you to then transfer your Bitcoin elsewhere. He is a resident of Isle of Man and worked in the firm for 2 years now.

UK’s media outlet mirror interviewed the 24-year old. One of the biggest revelations in his story was the fact that Lakin hasn’t altered his lifestyle at all. He says:

“Buying things with crypto is easier than people think – there are many online merchants that accept Bitcoin and I use them to buy what I need throughout the month – everything from tech-related items such as Raspberry Pi products or cooking equipment from Amazon (yes, there are ways to buy things from Amazon with crypto!)”

Not everything is available to be purchased with cryptos currently, however, Lakin doesn’t find it hard to liquidate his assets. Working for a crypto exchange gives him the benefit of not paying the fees that other users pay. He goes on:

“At the moment I convert all of my permanent outgoings (such as rent, direct debits, etc) to GBP on payday to avoid any issues around the Bitcoin price movements and then the rest is left for disposable income/savings.”

Although, there are disadvantages living this life too. One of them being that the transaction time is huge. Zakk states:

“Over time I believe we’ll begin to see more retail companies like restaurants and petrol stations introducing Bitcoin payments, and this will mean I can spend less on fiat and more in Bitcoin.”

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Author: Sritanshu Sinha