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News

Half of ICOs Die Within Four Months After Token Sales Finalized

About 56 percent of crypto startups that raise money through token sales die within four months of their initial coin offerings.

That’s the finding of a Boston College study that analyzed the intensity of tweets from the startups’ Twitter accounts to infer signs of life. The researchers determined that only 44.2 percent of startups survive after 120 days from the end of their ICOs. The researchers, Hugo Benedetti and Leonard Kostovetsky, examined 2,390 ICOs that were completed before May.

Acquiring coins in an ICO and selling them on the first day is the safest investment strategy, Kostovetsky said in a phone interview. But many individual investors can’t participate in ICOs, so this option isn’t open to them. Still, all investors should probably sell their coins within the first six months, the study found.

“What we find is that once you go beyond three months, at most six months, they don’t outperform other cryptocurrencies,” Kostovetsky said. “The strongest return is actually in the first month.”
ICO Funding by Month

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Returns have been declining over time, as startups have become savvier about pricing coin offerings and more have people jumped into ICO investing. Returns of people who sold tokens on the first day they were listed on an exchange have been declining by four percentage points a month, Kostovetsky said.

“They are much lower now, so I wouldn’t expect them to continue to decline at this rate,” he said.

A slew of recent studies have shown just how risky ICO investing is. More than 1,000 tokens have already bitten the dust, according to the website Coinopsy

“People often look at returns and say this is a great deal, but we teach in finance that return is a compensation for risk,” Kostovetsky said. “These are stakes in platforms that have not yet been built, that have no participants yet. There’s a lot of risk. The majority of ICOs do fail.”

Kostovetsky is an assistant professor at Boston College’s Carroll School of Management, and Benedetti is a finance PhD student at the school.

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Blockchain

Global Trade Set To Quadruple by 2030 with Use of Blockchain Based Collaborations

Blockchain Global Trade Set To Quadruple by 2030 with Use of Blockchain Based Collaborations

Angela Scott-Briggs

Global economy is highly dependent on global trade. However, for a long time global trade has been characterized by physical movement of papers and goods through different mediums which is less secured, less transparent, and very tedious. With the introduction of Blockchain, global trade is beginning to take a new turn. More and more companies are collaborating with Blockchain based platforms to bring effectiveness transparency and security to transactions across different borders on the globe. If these collaborations continue to increase, global trade is set to quadruple by the year 2030.

Sometimes in 2017, the shipping industry which is a notable industry facilitating global trade had one of its largest shipping company launch a Blockchain project. Maersk and IBM are also coming into a joint venture that applies Blockchain to global trade. In this same manner, more and more Blockchain based collaborations are ongoing, with a few others still to come up. This is why the most important question to ask is; how can Blockchain fast track global trade to a quadruple state in 2030?

Blockchain Saves Time and Cost

The traditional manual way of global trading requires much documentation which usually costs a whole lot of time and money to effect and maintain. A lot of papers need to be signed and forwarded from person to person, approved by another before trading activities take place. With Blockchain collaboration, a new workflow is introduced. The Blockchain is programmed in such a manner as to allow for easy flow of activities in the most effective and quick manner. This is helpful in checking time used, and cost implied. Working on Blockchain will mean more trade will be done in the shortest of time which is a sign that global trade is at the edge of a boom.

Blockchain Is More Secured and Transparent

Security in global trade is well enhanced on Blockchain because it uses the smart contract which is programmed to aid transaction payment free from any sort of hacks or fraud human errors can produce. Blockchain facilitates payments in such a way that traders are able to know who they are trading with. With Blockchain, traders who put forth their products for sale are being scrutinized, and proof of manufacturing process is being put out. Transactions on Blockchain are kept as records and can be traced at any point in time. This way, trust, transparency, security and efficiency are all introduced to global trade through Blockchain technology.

The more countries accept this Blockchain technology, the more trading activity is being facilitated with and in that country. Notwithstanding, there is still more technical barriers to be ironed and fixed before Blockchain can effectively claim mainstream. On Blockchain improvement, innovations are being put in place from time to achieve that. If there’s a wide acceptance of Blockchain technology, and more trading companies continue partnering with Blockchain based platforms, global trade is not just going to be more effective, more trustworthy, more transparent and most secured, it is set to quadruple by the year 2030.

Visit TIM website for the latest blockchain project: https://www.talking.im/

This article originally appeared at: https://www.techbullion.com/global-trade-set-to-quadruple-by-2030-with-use-of-blockchain-based-collaborations/.
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News

From $2.9 Billion in a Month to Hundreds Dead: Trends of the Rollercoaster ICO Market in 18 Months

Stats on where ICOs are mostly coming from, and what they are mostly about, paint an interesting insight into the ecosystem. As does the data on how the ICO market has changed into 2018. The biggest month for ICO investment was just four months ago, and 2018 has also seen the time taken to complete and ICO, and success of these projects, shift significantly since 2017.

Around 1000 cryptocurrencies have been considered deceased recently. It was attached to Bitcoin’s drop in value and was hinting toward a total cryptocurrency bubble.

However, the cryptocurrency ecosystem is a little more complex than that, and one of the most interesting and staggering facets of it all has to do with the Initial Coin Offering (ICO) marketplace. It is seen as an area of cryptocurrency that is aimed at both disrupting traditional venture capitalism as well as expanding the broadness of cryptocurrency beyond that of just Bitcoin.

This rambunctious side of cryptocurrencies has a lot of telling statistics that are worth delving into — especially over the last 18 months, which have seen a massive boom in new coins as well as a steady growth in capital raised for new cryptocurrency projects.

ICO countries and categories

ICOs are indeed a global phenomenon. However, some countries and markets have taken to them far better than others. In the latest trends, it is still the United States that leads the way, followed by Great Britain and Russia.

Chart

Source: icowatchlist.com

When it comes to the sectors that these ICOs are targeting, it is unsurprising that  finance is at the top, due to the cryptocurrency nature of the projects. But what is surprising is that finance is not where the most money is going — that belongs to blockchain technology itself.

Chart

Source: icowatchlist.com

Finance comprises 13 percent of ICOs, then goes to payments/wallets with 6.6 percent, while third is commerce/retail at 6.3 percent.

Then, looking at token sale results based on funds raised, we can see a big chunk going to blockchain platforms with 38 percent, followed by network/communications at 16.6 percent and then Finance at 9.5 percent.

Chart

Source: icowatchlist.com

The evolving trends of ICOs in 2018

It would not be hard to estimate that a good time for ICOs would have been in 2017, especially toward the end of the year. Cryptocurrencies were the talk of the entire globe and interest in them was being picked up in terms of Google searches — as well as in the price of things like Bitcoin in what has been called a ‘Satoshi Cycle.’

However, while there was indeed a boost toward the latter months of 2017 and into 2018, March 2018 has been by far the best month on record for funds raised by ICOs. As much as $2.94 billion was raised in March alone, which is more than the next two best months (Dec. 2017 and Jan. 2018) combined.

This however did have a lot to do with two specific ICOs, the Telegram ICO — raising $1.8 billion in total, including $850 million in its second round of ICO on March 30 — as well as the Petro of Venezuela — which raised $5 billion with its presale beginning on February 20.

Chart

Source: Coinschedule

However, the worrying trend with these ICOs and the money they are raising is that not enough of the projects are leading to success. ICOs have picked up a bad rap in recent times, with some major names hitting major difficulties — such as Tezos, which suffered a slew of lawsuits after infighting between the members shattered its progress.

Data collected over 2017 saw 913 projects with tokensales with 435 (48%) a success, raising $5.6 billion. 131 (14%) didn’t survive this stage and as many as 347 (38%) stayed unreported, with no data displayed. Some even had their websites and all traces of them disappear.

This puts forward a very negative perception of the ICO space, and thus also flows over to other major cryptocurrencies and even blockchain technology itself. Much like the Dot Com bubble, businesses flocked to ICOs, but many found out that they were, perhaps, unnecessary for their projects.

Chart

Source: ICObazaar

2018 emerges, and the hype has somewhat died down. Regulations are also tightening up and more protection is being afforded to investors, but at the same time, project teams are getting a more powerful foothold for development.

Still though, ICOs — even with increased pressure from laws and regulations — are struggling to deliver on their promises in 2018, as they are held to more scrutiny.

In May 2018, there were 195 ongoing ICOs listed on ICObazaar that were planning to close sales. However, only 91 public sales were closed, with total of $2.57 billion raised.

Chart

Source: ICObazaar

This statistic shows that either ICOs are not delivering at all on their promised timelines or that their ICO stage of the project is purposely taking longer. Comparable data from 2017 suggests that, indeed, more time is being taken across the board to complete ICOs in 2018, indicating that they are not as rushed or poorly formulated.

Chart

Source: ICObazaar

From the data above, one can see that 2017 had ICOs that predominantly planned to last between 10-30 days. However, in 2018, there was a broader division, with longer periods of time being prefered. In fact, where a 150 day ICO was unheard of in 2017, five percent of them in 2018 have chosen this route.

This has a lot to do with ICOs that are run in different stages becoming more popular. These teams initially have a pre-ICO, and then three or more stages of sales. In the current conditions of substantially increased competition, the duration of marketing preparations also increases.

There are also case studies that show that these elongated ICOs can be more successful — a project like EOS showing how it managed to accrue $4 billion over a year-long ICO.

Private over public

Another trend that has come about in 2018 is the idea of first launching a private ICO and then opening it up to the public. Nearly 30-35 percent of tokens with large discounts — of up to 50 percent — will go to funds and angel investors. Projects use the money to fund pre-ICO campaigns, including marketing and social media advertising.

A good example of this is the Telegram ICO, which was so successful in its private ICO that it decided to cancel its public ICO due to the abundance in funds it raised initially.

Some others include Kodak Coin, which also went the private ICO route, raising $10 million in the presale. Coinlist collected over $9.2 million from some of the finance industry’s most prominent investment firms in its attempt to keep regulation friendly.

In fact, there have been reports that suggest 84 percent of all ICO fundraising this year has come from private and presales.

An evolving form of raising capital

Already — even though it is barely a few years old — we are seeing a change in the trend for fundraising through blockchain technology. Part of it has to do with the belief that the ICO space is in its own bubble and part of it is a general evolution in a fast-paced space.

The terminology is changing, as is the way in which these offerings are made. Companies as big as Overstock are leaning toward Security Token Offerings (STO), while other major crypto players, such as Vitalik Buterin, are proposing new forms of crypto crowd sales like DAICO, Interactive Coin Offerings or Continuous Token Models.

The STO is a token is backed by a real asset, profits or company revenue. Prime examples of this include the Venezuelan government’s oil-backed Petro coin. These coins are meant to operate more like traditional securities and to meet all the requirements of the SEC.

These STO tokens are seen as a step in the right direction because of their regulatory compliance at the start, and there is already a belief that they will be the dominant force in the near future when it comes to Initial Coin Offerings.

Security Token Offering (STO) is held when token is backed by real assets or profits or company revenue. These tokens are protected from speculations and scammers, more like a traditional security, but in electronic form. Moreover, such a token meets all requirements of the U.S. Securities and Exchange Commission (SEC), which allows it to completely legally implement the token sale in the USA. The first security token platform Polymath data shows that STO will prevail on the market by 2020 and will be more than $10 trl.

Chart

Source: Polymath

Then there’s DAICO, which is a hybrid solution of ICO and DAO — a decentralized, autonomous organization, which is a form of a management management model based on blockchain technology. It allows a company to attract a solid investment, but at the same time provide investors with certain levers of management. It was Ethereum founder Vitalik Buterin who suggested this modification in order to improve ICO processing.

Interactive Coin Offerings are another option — which offer a protocol from creators Jason Teutsch and Vitalik Buterin — that suggests a different model of a crowdsale that ensures the certainty of valuation and participation at the same time.

Then there are Continuous Token Models. This model assumes that, “instead of pre-selling tokens during a launch phase, the tokens are minted as needed through various means. The tokens are then dispensed for services rendered in the network,” a Medium post describes.

Sorting out the scams

The data indicates that there are a few big problems with the ICO space in terms of not delivering on projects after investors have taken part in ICOs. This partly comes down to failed ICOs, but also down to a number of scams.

ICObazaar has a system of rating ICO projects that consists of a weight-adjusted formula with five factors — a sixth factor consisting of the actual score — which is all correlated by their blockchain and finance professionals. Their data shows some interesting trends. Firstly, they state that, in their rating system, only 7 percent of projects are rated above 4.5 out of 5.

The majority of the rest of the projects — up to 58 percent — score less than 4 out of 5. The reason for this, according to the site, is because of a “lack of information about the company and it’s team, as well as an unsatisfactory description of the product in the Whitepaper.”

“This usually happens when the team hurries to get listed on ICO trackers but doesn’t pay enough attention to their documentation, social media or the size and quality of community supporting the project.”

On the up

There is also data that shows better results in terms of ranking ICOs in 2018, as compared with last year.

Projects with ratings lower than 4 were even higher in 2017, with a large portion of projects having scores of 3–3.4. Thus, it shows that the share of high-quality projects has increased into 2018, ICObazaar’s data explained.  

Chart

Source: ICObazaar

Still early days

We need to remember that ICOs, cryptocurrencies and the entire blockchain space is still very much in its infancy. And, just like we have seen things like Bitcoin evolve, with Segwit and even the emergence of Bitcoin Cash, ICOs will evolve too.

The changes will be geared toward security, transparency, and reliability, and a lot of that will be driven by harder regulations intended to protect investors. However, it will also continue to be a competitive space, and that competition will also drive the necessity for well-built projects.

ICOs may have become a bit of a dirty word, but the process still has a lot to offer. After a bit of tweaking and growing, there will be a lot that can be done in the ecosystem once it is functioning well.

This article originally appeared at: https://cointelegraph.com/news/from-2-9-billion-in-a-month-to-hundreds-dead-trends-of-the-rollercoaster-ico-market-in-18-months.
Categories
News

Mastercard Latest Crypto Patent: Anonymous Third Party Transactions

Did Mastercard invent the blockchain? Interesting patent appears to say that though from a quick read appear to be referring to fiat transactions.

Will there next move be a lawsuit against Satoshi for patent infringement? 


Mastercard Granted Still More Crypto Patents

In its latest crypto patent filings, Mastercard stresses “a need for a technical solution whereby an entity may participate in a transaction where transaction details may be posted publicly to ensure accountability and trust in the data, while still providing anonymity and inability of others to track individual transactions or volume information by transaction party identifying information of both parties of a transaction to satisfy the confidentiality needs of each entity involved in the transaction.”

The more than half-a-century old legacy payments institution based in the United States is a world leader. Tens of thousands of employees. Nearly $13 billion in yearly revenue. It is a staple of Standard & Poor’s component indices. Its principal global business is as an intermediary, trusted third party, between merchant banks, and their derivations, along with credit, prepaid, and debit cards.

Mastercard Latest Crypto Patent: Anonymous Third Party Transactions

United States Patent Application 20180181953, granted yesterday after having been filed back in late December of 2016, reads in abstract

“A method for posting of anonymous directed transaction includes: storing a plurality of entity profiles, each including an entity identifier and a secret value; receiving a transaction request from a first entity, the request including transaction data and a specific entity identifier associated with a second entity; identifying a specific entity profile that includes the specific entity identifier; generating a first hash value via application of one or more hashing algorithms to the transaction data; generating a second hash value via application of one of more hashing algorithms to a combination of the first hash value and the secret value included in the identified specific entity profile; and posting the first hash value and second hash value to a publicly accessible data source.”

Loosely translated, a public blockchain transaction, as it exists in its popular forms with regard to bitcoin core (BTC), just might be a key in holding back more crypto acceptance on a broader scale. Of its many ironies, BTC’s open ledger provides a wealth of information for both consumers and businesses, and aspects of industrial espionage are sure to follow, something giants like Mastercard are keen to avoid at all cost.

Privacy for Mastercard is Different than Privacy in the Crypto World

The cryptocurrency world has continued to tackle the issue of private, cash-like transacting since its inception. Alternatives abound among tokens and alternative coins, and their numbers and intensity are growing at record paces.

Mastercard Latest Crypto Patent: Anonymous Third Party Transactions

For traditional payments companies, avoiding a public distributed ledger is equally growing in importance. They’ve several masters to please, including lawmakers and regulators who wish to grant such transaction access to police. Eliminating peer-to-peer features is also very important, and so third party processors are vital to the company’s plans. A lucrative side business is to sell such information to other companies hoping to exploit its proprietary data for advertising purposes, for example.

Crypto-related patents recently granted to the company include travel and even coupons. They’re yet another ironic turn for a company with well-known hostilities toward the crypto community.

Categories
News

Binance Opens Its First Crypto-Fiat Exchange in Uganda

Jun 29, 2018 at 02:00 UTC  |  Updated  Jun 29, 2018 at 12:00 UTC

The world’s largest cryptocurrency exchange has just launched a fiat trading pair in Uganda.

Binance, the largest exchange by volume according to CoinMarketCap, announced Thursday that it was starting a fiat-crypto trading pair with the Uganda shilling. Moreover, the company also announced its first fiat crypto exchange in the nation, called Binance Uganda, according to a statement.

The exchange will charge zero trading fees when it comes online, though Binance declined to state when that would be. However, the first 20,000 users to register with the service will receive 0.5 binance coins (BNB) as “appreciation” for their support, according to the statement.

The tokens will be distributed on a first-come, first-serve basis but users who wish to withdraw their tokens must complete identification verification procedures after the platform is launched, according to the announcement.

The launch marks Binance’s latest steps in expanding cryptocurrency trading in the underbanked country. Only 33 percent of Ugandans actively use their registered financial accounts in 2016, according to a study by Financial Inclusion Insights, a data-collection organization which focuses on trends in the digital financial services industry.

The Hong Kong-based exchange also has announced plans to open a fiat-crypto trading platform in Malta, an island nation located in the Central Mediterranean Sea, Bloomberg reported.

This article originally appeared at: https://www.coindesk.com/binance-opens-first-crypto-fiat-exchange-uganda/.
Categories
News

Alibaba Seeks to Eliminate Middlemen in Blockchain Payments Patent

There’s basically two ways incumbents can react to newer technologies.
  1. Find a way to disrupt themselves and stay relevant
  2. Seek to block others from innovating.

Which way do you think Alibaba wants to go?


Alibaba Seeks to Eliminate Middlemen in Blockchain Payments Patent

From CoinDesk

Jun 29, 2018 at 11:00 UTC

Chinese e-commerce giant Alibaba has been exploring the use of blockchain technology to speed up international payments, according to a new patent filing.

The patent application – “A System and Method That Adjusts Account Balance on a Blockchain” – was filed with the China State Intellectual Property Office in January of this year and was revealed on Friday.

Aimed to tackle the broad concept of adjusting account balances over a blockchain, the company explained how the system could be used to facilitate cross-border transactions that specifically involve a third-party payment vendor.

For instance, the document said that third-party payment services and their banking partners in different regions will all function as nodes to form the envisioned blockchain. Subsequently each node will maintain a ledger of user balances, reflecting accounts in third-party payment vendors’ mobile wallets.

When a transaction request is initiated, the nodes would verify the user’s account balance, taking into account any legal compliance procedures that must be followed – a process enforced by triggering smart contracts encoded to the blockchain, the patent says.

The nodes would then update the balance of the users sending and receiving the transacted amount in a decentralized way, thus eliminating the need for an intermediary and avoiding the resultant delays in transaction time, according to the document.

Although Alibaba didn’t explain how or if it intends to apply the system commercially, the document was published just days after the company’s payment affiliate Ant Financial announced the launch of a blockchain-based remittance service.

As reported by CoinDesk, Ant Financial said it is now using a blockchain-based system to allow Alipay users in Hong Kong to send money to residents in the Philippines via a third-party payment vendor, and with Standard Chartered as the banking partner.

Read the full patent application below:

Alibaba cross-border payments patent filing by CoinDesk on Scribd

Categories
ICOs

Mobile Mining is SO COOL. – Ivan Likov of Phoneum.io

CoinHash.co Blockchain interview.

Ivan Likov explains to .Warren Whitlock of Coinhash how Phoneum.io allows billions of mobile users to participate in a mobile-only mining system.

Use a free app called Phoneum to mine crypto on a mobile device. Cryptocurrencies are no longer limited to high power machines with expensive energy requirement. Phoneum brings mining to the masses.

Phoneum is set to launch their mobile-only cryptocurrency and bring mining to the masses, utilizing their proprietary algorithm to monitor and regulate mobile device sensors while ensuring low power consumption easy-to-use mining, and transparent e-transactions

Categories
Blockchain

Blockchain in space starting to boom (Yes, really)

I keep telling you. Blockchain will be used for everything. 

In space, it’s important to have a distributed ledger (database) that is immutable and secure. 

Perfect place for blockchain technology

Blockchain in space starting to boom (Yes, really)

by Doug MohneyMay 1, 2018Leave a CommentBlockchain in space starting to boom (Yes, really)Hot Topics, Space IT

Space companies and government organizations such as NASA and ESA are embracing blockstream as a mechanism to support their businesses and operations all the way from the ground to deep space.  If you want to combine a love of cutting-edge software technology with satellites and space exploration, blockchain could be the gateway to fulfilling your dreams.  Companies are incorporating blockchain into satellite Internet of Things (IoT) projects, storing tokens in orbit for safekeeping, and plan to extend blockchain transactions to commercial space stations and beyond Earth for deep space operations and potentially asteroid mining.

Recently, I touched upon relatively “pure play” blockchain in space applications being driven by native blockchain companies.  You can add ConnectX to an ever-growing list of companies incorporating nanosatellites into an architecture for distributing and redeeming their own cryptocurrency.  Spacebit is running an ICO to fund “decentralized space operations.” And Miner One put a RaspberryPi board on a high-altitude balloon to the edge of space to claim a title of “Space Miner One” — but they’re following in the footsteps of KFC.

As previously noted, part of the relationship between cryptocurrency firm Nexus and start-up launch provider Vector Space Systems includes the ability for customers to pay for launches using Nexus cryptocurrency.  Exactly when someone other than Nexus pays for services using the cryptocurrency is an open question.

Vancouver, Canada-based Helios Wire is putting together nanosatelites, IoT, M2M, and blockchain as a part of the “Next Industrial Revolution,” according to the company’s website.  Helios Wire says its space-based system will be able to provide “efficient and affordable” monitoring, tracking and messaging for as many as “5 billion devices” worldwide.  Blockchain will enable IoT devices to autonomously engage in transactions with one another via smart contracts, not just be “connected.”  Helos says backing up data and blockchain ledgers off-planet also provides more security, and ledgers can be delivered through space-based satellite systems to reach and supplement traditional terrestrial infrastructure.  The company expects to launch its first two satellites the second half of this year.

Cloud Constellation Corporation’s SpaceBelt data-center-in-space scheme proposes a set of low earth orbit (LEO) satellites — three storage and nine communications relay satellites — to provide secure storage and distribution of digital assets. So far, the company has announced agreements to store cryptocurrency, tokens and other blockchain-ish data for SolarCoin and TokenEx, along with interest from Hollywood to securely move daily film shoots between on-site locations and editing suites.  Cloud is currently seeking a couple hundred million dollars to build and launch its first satellites.

NASA’s Goddard Space Flight Center has discussed using blockchain as a part of a distributed spacecraft mission and for digital “ledgers” to confirm operational tasks are successfully performed.  Using blockchain in combination with AI for decentralized and shared control of data, plus applying it to earth science missions for tasking satellites and working with shared data.

The space agency is also funding early research to incorporate blockchain and smart contracts into satellite debris avoidance.  The “Resilient Networks and Computing Paradigm” (RNCP) will use Ethereum blockchain technology to develop a decentralized, secure, and “cognitive” network and computing infrastructure for deep space exploration.   A group of satellites would be able to communicate among themselves to spot space debris and other issues and move to avoid them, enabling them to act autonomously rather than having to wait minutes to hours for Earth to figure out a solution and send up a set of corrective commands.

Across the Atlantic, the European Space Agency (ESA) is investigating blockchain to be applied to everything from satellite communications to procurement as a part of its Space 4.0 concept.  Like NASA, ESA has generated PowerPoint discussing its thoughts. Unlike NASA, ESA’s initial thoughts have gone to speeding up administrative processes — no mundane task when you’re dealing with  22 countries in Europe.

Next-generation commercial space advocates and companies are more circumspect about blockchain, but they clearly see the potential the technology.  NanoRacks CEO Jeffrey Manber  is an advisor to Singapore-based SpaceChain.  Manber has been building commercial space opportunities dating back almost two decades, including arranging the first “space tourist” trip to the International Space Station (ISS).  NanoRacks effectively owns and operates various bits and pieces onboard ISS, including the station’s cubesat deployer.

“Blockchain is a very interesting technology,” Planetary Resources CEO Chris Lewicki said. “I can’t tell you what it means. We’re in research mode, understanding the technology, asking [ourselves] if this can produce useful projects for us.  Stay tuned.”

Lewick said asteroid mining, the focus of Planetary Resources, is a technology where progress will be measured in “decades.”  He’s looking “ten, twenty, thirty years out” to figure out what the future might look like.  Blockchain provides technology for decentralized and trust transactions.  Smart contracts provide a lot more autonomy in how operations might proceed, a key asset if you are conducting operations 20 minutes at the speed of light away from the planet.

“It could be banking, purchasing, or work or selling fuel.  Put that in a digital trust ledger always propagating back [to Earth],” Lewicki stated. “We want something designed for the digital age, so we can skip paper-based, central authority transactions.”

While Planetary Resources works on a timeline of decades to mine asteroids, blockchain may appear closer and sooner in the skies overhead. Axiom Space has proposed a privately-owned space station, starting with modules connected to ISS and operating independently from it once ISS is retired.  Axiom  VP of Strategic Development Amir Blachman recently spoke at the Alchemist Money Summit about “The Future of Human Space Exploration and Related Blockchain Opportunities.”

Blachman declined an opportunity to speak to Space IT Bridge in April and suggested I circle back to him in “mid-May” for an on-the-record discussion.   Axiom Space is no fly-by-night company; it has a deep bench of executives involved in American human spaceflight and ISS operations, including two astronauts.  I’m looking forward to talking to Mr. Blachman in the near future.

Categories
Startups

AI Personal PERSONAL Assistant – Meet Peter Voss of Aigo.ai

We know AI is improving. So let’s look at where an investment in AI and Blockchain technology might pay off big.

This conversation with Peter Voss of Aigo.ai is a great place to start. A scientist who has founded a startup to make personal assistants personal.

Imaging Siri, Alexa, etc actually learning so they do what you want!  Every time I get a chance to chat with Peter, my mind expands with ideas about a future when artificial intelligence really works in our everyday lives.

And right now, there’s a token sale. Learn more at https://aigotoken.ai

Categories
News

Warren Whitlock talks Blockchain at BCI Summit in New York City

The arrival of institutional investment into the crypto space has signaled a number of maturity benchmarks for the likes of Bitcoin, Ethereum, and Ripple. As such, it seems like everyone and their mothers are trying to get a grip on this emerging financial asset. As mainstream is turning towards digital currencies, an immediate question arises; where can one get quality investing information?
Traditional Finance Meets Crypto

Wrapping your head around the technical aspects of Bitcoin’s blockchain is one thing, but finding ways to open your portfolio to the digital currency market safely is a whole different ballgame. While age-old advice can undoubtedly prepare you for the balancing act of keeping your holdings in the green, there are key differences that need to be noted when entering the volatile world of cryptocurrencies.

So, how does one avoid the pitfalls and find the highest Alpha? Education.

This year’s BCI Summit on June 11 to June 12, 2018, will look to bring together the innovative aspects that blockchain technology is providing for the legacy financial system.

As an investor-centric discussion, speakers from top startups, venture capital firms, and ex-banking executives will dive into the nuanced strategies to capitalize on the incoming financial revolution. All of it is sure to quench your desire for a knowledgeable-edge in the markets.

Key Speakers

The balance of financial experience, best cybersecurity practices, and innovators in the space will, if anything, give a broad overview of the all the moving parts. Most notably, Charlie Shrem, founder of the Bitcoin Foundation, co-founder and former CEO of BitInstant LLC, and one of the loudest voices in the anglicization of Bitcoin, will be sharing his experiences since the pioneer cryptocurrency’s inception.

Source: BCI Summit

Arianna Simpson, another early proponent of Bitcoin, will shed light on the move from the technical aspects of BitGo to running a blockchain-focused VC firm. Shira Rubinoff, a top 25 cybersecurity expert, will go into how scams are rampant and due diligence is more important than ever when exploring the crypto space. CME Group, IBM, BlockTower Capital, and many more will help the novice, and expert investors alike pick apart the decentralized world of crypto.

For full details on the agenda, list of speakers, tickets, and location, please visit the BCI Summit website.

This article originally appeared at: https://btcmanager.com/countdown-to-bci-summit-in-new-york-city/.