Few new technologies have raised as much discussion as blockchain. One reason is the controversy, concern, and perceived opportunity around blockchain-based cryptocurrencies (such as bitcoin and ether) and crowdfunding via initial coin offerings (ICOs). But what is blockchain’s role in the enterprise?
This article gives some ideas to think about. Take those trends with grain of salt. There will be a crash ans bubble burst on blockchains in few years.
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Tomi Engdahl says:
http://etn.fi/index.php/13-news/7952-lohkoketjut-eivat-viela-kiinnosta-yrityksia
Tomi Engdahl says:
BMW, GM, Ford and Renault launch blockchain research group for automotive industry
https://techcrunch.com/2018/05/02/the-mobility-open-blockchain-initiative-bmw-gm-ford-renault/?utm_source=tcfbpage&sr_share=facebook
Car makers BMW, General Motors, Ford and Renault are the big names behind a new group announced today to explore the potential of the blockchain in the automotive and mobility space.
MOBI — the Mobility Open Blockchain Initiative — launches today with over 30 founding members that also include Bosch, Blockchain at Berkeley, Hyperledger, Fetch.ai, IBM and IOTA. The group has a fairly broad goal of making transportation “safer, more affordable, and more widely accessible using blockchain technology.”
Tomi Engdahl says:
Accessing Blockchain on ESP8266 Using the NodeMCU Board
https://hackaday.com/2018/05/02/using-blockchain-explorer-apis-on-nodemcu/
Blockchains claim to be public, distributed, effectively immutable ledgers. Unfortunately, they also tend to get a little bit huge – presently the Bitcoin blockchain is 194GB and Ethereum weighs in at 444GB. That poses quite an inconvenience for me, as I was looking at making some fun ‘Ethereum blockchain aware’ gadgets and that’s several orders of magnitude too much data to deal with on a microcontroller, not to mention the bandwidth cost if using 3G.
Having imagined a thin device that I could integrate into my mobile phone cover (or perhaps… a wallet?) dealing with the whole blockchain was clearly not a possibility. I could use a VPS or router to efficiently download the necessary data and respond to queries, but even that seemed like a lot of overhead, so I investigated available APIs.
As it turns out, several blockchain explorers offer APIs that do what I want. My efforts get an ESP8266 involved with the blockchain began with two of the available APIs: Ethplorer and Etherscan.
Ethplorer (Github) responds with data to HTTP GET requests. Some key features are that it allows you to retrieve trading data like pricing and volume for both coins and tokens.
Etherscan on the other hand focuses on more things that I’m interested in. It has some basic smart contract features like checking execution status, and in addition to HTTP GET requests it supports websockets for something approaching real-time alerting.
Both services are presently free to use and can check Eth balances, transactions histories, and the other features you’d expect in this type of blockchain explorer. I chose Etherscan for this project because I wasn’t interested in price data and I thought of some fun things websockets would allow. Both services provide data in JSON format, which is quite convenient as we’ll see later.
Tomi Engdahl says:
Banks Don’t Want to be Weakest Link in Blockchain Revolution
https://www.securityweek.com/banks-dont-want-be-weakest-link-blockchain-revolution
Blockchain, the cutting-edge technology behind virtual currencies like bitcoin, has the potential to play a disruptive role in the global finance sector, experts say, as banking behemoths seek to connect with its opportunities.
While banks could reduce their costs, the gains could eventually shift to consumers who could benefit from quicker and cheaper services.
“Any disruptive shock — be it technology, economic or political — tends to result in winners and losers, and blockchain is no different,” Colin Ellis, managing director for credit strategy at Moody’s, told AFP.
“It could reduce costs for banks but at the same time could foster more competition that would put downward pressure on fees.”
A shared, encrypted “ledger” that cannot be manipulated, blockchains offer the promise of secure transactions that allow anyone to get an accurate accounting of money, property or other assets.
Much like it underpins trading in bitcoin and other cryptocurrencies, blockchain or so-called distributed ledger technology could also support trading of other assets, thus posing a risk to banks who earn hefty fees helping their clients trade currencies and other assets.
Key areas of financial services where blockchain could have an impact are the settlement and clearing of transactions.
But a recent report by Moody’s found that while blockchain technology could slash cross-border transaction costs for financial institutions, it would likely ramp up competition among banks.
Tomi Engdahl says:
U.S. Military Bans Huawei, ZTE Phones
https://www.securityweek.com/us-military-bans-huawei-zte-phones
Personnel on US military bases can no longer buy phones and other gear manufactured by Chinese firms Huawei and ZTE, after the Pentagon said the devices pose an “unacceptable” security risk.
Tomi Engdahl says:
Nathaniel Popper / New York Times:
Sources: NYSE owner Intercontinental Exchange (ICE) is working on an online trading platform that would allow large investors to buy and hold Bitcoin
Bitcoin Sees Wall Street Warm to Trading Virtual Currency
https://www.nytimes.com/2018/05/07/technology/bitcoin-new-york-stock-exchange.html
Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.
The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times
Tomi Engdahl says:
With MIT launched, Learning Machine raises seed to replace paper with blockchain credentials
https://techcrunch.com/2018/05/07/learning-machine-credentials/?utm_source=tcfbpage&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&sr_share=facebook
Transcripts, diplomas, resumes — simple documents with enormously important economic consequences for their holders. The right classes or GPA on a transcript can radically change the career prospects of a young graduate, and yet, the infrastructure that manages these critical documents still centers on mailing official paper to processing centers.
Now, a startup called Learning Machine wants to completely migrate these documents into the digital era by placing them on the blockchain.
Tomi Engdahl says:
Telegram’s billion-dollar ICO has become a mess
https://techcrunch.com/2018/05/03/telegrams-billion-dollar-ico-has-become-a-mess/?sr_share=facebook&utm_source=tcfbpage
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Telegram’s billion-dollar ICO has become a mess
Jon Russell, Mike Butcher
May 3, 2018
Telegram Messaging App
Telegram’s ICO was supposed to be a record-breaker to develop a platform that brings the decentralized internet to life. Instead, it has become a mess with the tightly controlled fundraising process in disarray as early backers sell their tokens for handsome returns.
The company recently canceled the public sale piece of its ICO, the Wall Street Journal reported this week, after it raised $1.7 billion from private sale investors, according to SEC filings. But the issues date back further.
Tomi Engdahl says:
Banks Don’t Want to be Weakest Link in Blockchain Revolution
https://www.securityweek.com/banks-dont-want-be-weakest-link-blockchain-revolution
Blockchain, the cutting-edge technology behind virtual currencies like bitcoin, has the potential to play a disruptive role in the global finance sector, experts say, as banking behemoths seek to connect with its opportunities.
While banks could reduce their costs, the gains could eventually shift to consumers who could benefit from quicker and cheaper services.
“Any disruptive shock — be it technology, economic or political — tends to result in winners and losers, and blockchain is no different,” Colin Ellis, managing director for credit strategy at Moody’s, told AFP.
“It could reduce costs for banks but at the same time could foster more competition that would put downward pressure on fees.”
A shared, encrypted “ledger” that cannot be manipulated, blockchains offer the promise of secure transactions that allow anyone to get an accurate accounting of money, property or other assets.
Tomi Engdahl says:
http://www.etn.fi/index.php/13-news/7952-lohkoketjut-eivat-viela-kiinnosta-yrityksia
Tomi Engdahl says:
Internet of Things: Blockchain’s Killer App?
https://it.toolbox.com/articles/internet-of-things-blockchains-killer-app
The definition of Internet of Things can vary, however it is often viewed as a collection of products that implement or improve automation of a personal home. However, there are many IoT applications in the commercial sphere as well – for instance, it can provide sensor grid services for manufacturing floors, provide surveillance for company security, or automate procurement. Furthermore, all these functions can be integrated through the wireless connections that lend IoT the appearance of a sleek, coordinated machine.
These are just some of the reasons why the business-to-business IoT market may be worth as much as $300 billion by the beginning of the next decade, according to PwC, which also estimates that businesses will invest more than $800 billion in the field by 2020.
However, this also poses a problem: what is needed to keep a new IoT field within the company’s control? Cyber-security analysts predict IoT security issues will become an issue, with the industry likely to pose a choice target for hackers, making it more necessary than ever to ensure the integrity and safety of corporate IoT security against outside attack.
Blockchains and IoT
Blockchain is the emerging protocol increasingly put forward to facilitate the privacy and security of software interactions in the future at the most granular levels. It is associated with increased privacy and anonymity, as every pertinent communication is converted into a transaction in a ledger that is also distributed by the blockchain. As a result, blockchain technology is increasingly perceived as the best means to enhance authenticity within a structure, such as a company’s own infrastructure or supply chain.
A ledger is decentralized in order to distribute the risk of incursion or data theft away from a conventional trust determination security system. In addition, the ledger can track individual IoT devices over time and with respect to its activity. Devices can also be ‘anonymous’ or identified through a unique code in the ledger. In other words, the blockchain interacts directly with each device, eliminating the risk of man-in-the-middle style attacks.
On the other hand, devices or the systems that host the ledgers could be compromised in an attempt to manipulate the ledger through false blocks or transactions (which constitute denial-of-service attacks in the blockchain context). Attackers could also exploit the components of the blockchain-IoT interface to drop or obstruct blocks. However, these threats can be addressed through the deployment of keys for requests or sending, and the application of hashing to transactions.
Despite these drawbacks, the blockchain-for-IoT approach is gaining ground for enhanced security in data sharing within a proprietary framework. It can also pair with a secure cloud, which may possibly offer savings when transferring to or upgrading IoT.
Can Blockchain Simplify IoT?
Corporate IoT providers often suggest that blockchain can make IoT connectivity simpler to use, manage and track – it consists of a ledger that translates every interaction between each ‘thing’ into a transaction, and can be visualised as a flowchart rather than the complex circuit diagrams of conventional systems. However, the ledger may span many different workstations or even computer networks, depending on the company’s size, in order to encompass all operations overseen by the IoT system.
Some researchers argue that in its current form, blockchain is too unwieldy and resource-intensive to secure modern business practices. They advocate adaptation of the technology to fit the topology of the environment, an entire field of IoT connections, that it is intended to secure, and propose a new hierarchical system by the same environment broken up into units (e.g. offices), each with a locally-controlled blockchain for all its IoT items.
Cluster Heads
This blockchain is also stored locally, but may connect to a network of other units through a secured connection. The clusters formed as a result can elect cluster heads or shift CH designation in accordance with load and time constraints. Cluster heads maintain the public keys of requesters and requestees within its nodes, and the data sent from them to other CHs, and form an overlay network, with the option of sending data to a cloud as necessary.
The advantages of this form of blockchain and its management include the granularity of control implied at the CH and node leve
Applications for the Blockchain of Things
The gig economy is an obvious target for a blockchain-connected IoT.
This new economy would be facilitated through ‘distribution apps’ (Dapps) that can control devices and allow them to coordinate with others. For example, the apps that direct autonomous vehicles may need to be able to interact with Dapps associated with many other systems to handle repeat costs associated with the use of the car, such as fueling or parking, so ‘Dapps’ could benefit from co-ordination by a localized blockchain.
So far there are very few real-world examples of services using blockchains for pay-per-use systems, such as fully automated Airbnb rentals, although they include Slock.it, a start-up based on access to Dapps that run IoT-powered assets for rent.
Tomi Engdahl says:
Nathaniel Popper / New York Times:
Sources: NYSE owner Intercontinental Exchange (ICE) is working on an online trading platform that would allow large investors to buy and hold Bitcoin
Bitcoin Sees Wall Street Warm to Trading Virtual Currency
https://www.nytimes.com/2018/05/07/technology/bitcoin-new-york-stock-exchange.html
Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.
The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential.
Tomi Engdahl says:
BotChain wants to put bot-to-bot communication on the blockchain
https://techcrunch.com/2018/05/08/botchain-wants-to-put-bot-to-bot-communication-on-the-blockchain/?sr_share=facebook&utm_source=tcfbpage
Increasingly we are going to be having bots conducting business on a company’s behalf. As that happens, it is going to require a trust mechanism to ensure that bot-to-bot communication is legitimate. BotChain, a new startup out of Boston wants to be the blockchain for registering bots.
The new blockchain, which is built on Ethereum, is designed to register and identify bots and provide a way for companies to collaborate between bots with auditing capabilities built in. BotChain has the potential to become a standard way of sharing data between bots in a trusted way.
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BotChain wants to put bot-to-bot communication on the blockchain
Ron Miller
@ron_miller / 1 hour ago
AI(Artificial Intelligence) concept.
Increasingly we are going to be having bots conducting business on a company’s behalf. As that happens, it is going to require a trust mechanism to ensure that bot-to-bot communication is legitimate. BotChain, a new startup out of Boston wants to be the blockchain for registering bots.
The new blockchain, which is built on Ethereum, is designed to register and identify bots and provide a way for companies to collaborate between bots with auditing capabilities built in. BotChain has the potential to become a standard way of sharing data between bots in a trusted way.
The idea is to have an official and sanctioned place for companies to register their bots securely. As the organization describes it, “BotChain offers bot developers, enterprises, software companies, and system integrators the critical systems, standards, and means to validate, certify, and manage the millions of bots and billions of transactions powered by AI.
Photo: allanswart
The company was created by the team at Talla, a bot startup in Cambridge, but the goal is to open this up to much larger community of partners and expand. In fact, early partners include Gupshup, a platform for developers and Howdy.ai, B2B enterprise bot developers along with Polly, CareerLark, Disco (formerly Growbot), Zoom.ai, and Botkeeper.
BotChain is the brainchild of Rob May, who is CEO at Talla. He was formerly co-founder and CEO at Backupify, which was sold to Datto in 2014. He recognized that as bot usage increases, there needed to be a system in place to help companies using bots to exchange information, and eventually even digital currencies to complete transactions in a fully digital context.
May believes that blockchain is the best solution to build this trust mechanism because of the ledger’s nature as an immutable and irrefutable record. If the entities on the blockchain agree to work with one another, and the other members allow it, there should be an element of confidence inherent in that.
He points to other advantages such as being decentralized so that no single company can control the data on the blockchain, and of course nobody can erase a record once it’s been written to the chain. It also provides a way for bots to identify one another in an official way and for participating companies to track transactions between bots.
Tomi Engdahl says:
Simple Ethereum Vending Machines with NodeMCU
https://hackaday.com/2018/05/10/simple-ethereum-vending-machines-with-nodemcu/
Recently, we covered how to use the Etherscan API to query data (a wallet balance) from the Ethereum blockchain with NodeMCU. It’s a very useful method for retrieving information from a blockchain on embedded systems where storage and memory are an issue.
It has some limitations though. Most notably, it’s polling the API at some interval to retrieve information whether it has changed or not.
Simply send to an address via some method, and receive goods!
It turns out we can do exactly that with NodeMCU using WebSocket. Like HTTP, WebSocket is a communications protocol that uses TCP connections (typically over port 80), but it allows full-duplex communication. In other words, you can establish a connection to a server, and send/receive messages without needing to poll the server.
Accessing Blockchain on ESP8266 Using the NodeMCU Board
https://hackaday.com/2018/05/02/using-blockchain-explorer-apis-on-nodemcu/
Blockchains claim to be public, distributed, effectively immutable ledgers. Unfortunately, they also tend to get a little bit huge – presently the Bitcoin blockchain is 194GB and Ethereum weighs in at 444GB. That poses quite an inconvenience for me, as I was looking at making some fun ‘Ethereum blockchain aware’ gadgets and that’s several orders of magnitude too much data to deal with on a microcontroller, not to mention the bandwidth cost if using 3G.
Tomi Engdahl says:
Bitcoin and Beanie Babies: Why Cryptocurrency Volatility Matters to the Semiconductor Industry
https://www.3dincites.com/2018/05/bitcoin-and-beanie-babies-why-cryptocurrency-volatility-matters-to-the-semiconductor-industry/
Bitcoin, a cryptocurrency built on blockchain, has become one of the hottest topics to hit the semiconductor news feeds and the conference circuit since the iPhone. Why? Because this code-based technology requires so much compute power to run complex mathematical equations that it gobbles up more energy than is required to fuel the entire country of Denmark.
In fact, a recent article in the Washington Post said the practice of bitcoin mining just about shut down Iceland’s power grid in February.
In December 2017, Bitcoin’s value skyrocketed, and it rapidly became a key driver for the semiconductor industry. Just last month TSMC reported record growth and credited orders for cryptocurrency mining chips, because of Bitcoin’s record high values in December.
In January, Bloomberg predicted Bitcoin would account for 10th of TSMCs total revenue for 2018, and will likewise impact companies like Nvidia and AMD. At SEMI’s ISS in January, and again at IMAPS Device Packaging Conference in March, bitcoin and blockchain were identified as key technologies to watch for the industry.
However, a few weeks ago, TSMC adjusted its expected growth for 2018 down to 10% because Bitcoin dropped in value as rapidly as it had climbed, according to Morgan Stanley analysts, who predict if the cryptocurrency doesn’t recoup its value, hardware and price will decline and impact wafer orders. This may be why presenters at last week’s TSMC Customer Symposium didn’t include cryptocurrency and blockchain as a significant driver for 2018, and instead focused on artificial intelligence and 5G.
Tomi Engdahl says:
TSMC April revenues down 21% on month
https://www.digitimes.com/news/a20180510VL203.html
Taiwan Semiconductor Manufacturing Company (TSMC) has reported consolidated revenues of NT$81.87 billion (US$2.74 billion) for April 2018, down 21% sequentially but up 44% on year.
TSMC expects to post a 7-8% sequential decrease in consolidated revenues for the second quarter of 2018. “Continued weak demand from our mobile sector will negatively impact our business despite strength in cryptocurrency mining,” said TSMC CFO Lora Ho when giving the foundry’s sales guidance for the second quarter.
TSMC has cut its revenue growth forecast for 2018 to 10% from the previously-estimated 10-15%, citing weaker-than-expected smartphone demand and growing uncertainty facing the cryptocurrency mining market
Tomi Engdahl says:
Alex Heath / Cheddar:
Sources: Facebook is exploring creation of its own cryptocurrency to facilitate payments among its users, but the plans will likely take years to materialize — Facebook is exploring the creation of its own cryptocurrency, a virtual token that would allow its billions of users around the world …
Facebook Plans to Create Its Own Cryptocurrency
https://cheddar.com/videos/facebook-plans-to-create-its-own-cryptocurrency
Facebook is exploring the creation of its own cryptocurrency, a virtual token that would allow its billions of users around the world to make electronic payments, people familiar with Facebook’s plans told Cheddar.
“They are very serious about it,” said one of the people, who asked not to be identified discussing unannounced plans.
Facebook started studying blockchain almost a year ago, when a member of its corporate development team, Morgan Beller, began looking at how the social platform could use the emerging technology.
At the time, Beller was the only Facebook employee devoted to studying blockchain, the digital and decentralized ledger that underpins cryptocurrencies like Bitcoin and Ethereum.
Tomi Engdahl says:
Jeran Wittenstein / Bloomberg:
Nvidia says it earned $289M from sales of its chips to cryptocurrency miners in Q1 of 2018, but expects crypto revenue to decline by two-thirds in Q2 — Nvidia Corp. revealed for the first time how much revenue it generated from chip sales to the cryptocurrency market — and said that figure will be much smaller in the second quarter.
Nvidia Reveals Crypto Sales for First Time and Predicts Big Drop
https://www.bloomberg.com/news/articles/2018-05-10/nvidia-reveals-crypto-sales-for-first-time-and-predicts-big-drop
Nvidia Corp. revealed for the first time how much revenue it generated from chip sales to the cryptocurrency market — and said that figure will be much smaller in the second quarter.
Demand from cryptocurrency miners was stronger-than-expected in the first quarter and translated into revenue of $289 million, Nvidia said Thursday on its earnings conference call. Crypto sales will probably fall by about two-thirds in the current fiscal quarter, the company said.
The first-quarter sales were much higher than one analyst projected. Susquehanna’s Christopher Rolland anticipated crypto sales of about $200 million, according to an estimate before the earnings were released.
“Crypto miners bought a lot of our GPUs in the quarter and it drove prices up,”
Tomi Engdahl says:
http://www.ibmbigdatahub.com/podcast/data-decoded-podcast-e3-blockchain-part-1?cm_mmc=OSocial_Facebook-_-Hybrid+Cloud_Unified+Governance+and+Integration-_-WW_WW-_-Podcast&cm_mmca1=000000TF&cm_mmca2=10000665&
Tomi Engdahl says:
This company hopes its cryptocurrency can help the internet of things reach its true potential
https://www.technologyreview.com/s/611108/this-company-hopes-its-cryptocurrency-can-help-the-internet-of-things-reach-its-true/
Helium, a startup focused on connecting low-power devices, thinks a blockchain can seed the spread of cheap, ubiquitous connectivity.
AAnyone who hears that an internet-of-things startup is getting into blockchain technology would be forgiven for laughing it off as another hollow scheme. But Amir Haleem, cofounder of Helium, says he has no interest in making a quick buck off the irrational exuberance that permeates the cryptocurrency world. In fact, just the opposite—he’s interested in cryptocurrency only as a way to build a true internet of things, once and for all. And he knows his idea is so far-out it could take a while before people catch on.
Haleem started Helium in 2013, along with Napster creator Shawn Fanning. The company’s first product, which is now on the market, is a hardware system that uses a homegrown wireless standard to provide long-range, low-power wireless coverage for devices like sensors that track and monitor medicine or food supply chains. Software routes the data to internet-based applications hosted by whoever owns the sensors.
there’s little incentive to build widespread wireless coverage that is secure, reliable, and super-cheap. Established wireless carriers don’t see a business case for building networks geared for devices that might transmit less than a dollar’s worth of data per year
As one example, Helium is working with a pharmaceutical company that wants to track individual medicine bottles and monitor their temperature in close to real time, without interruption. That product can’t exist today, says Haleem, because it can’t rely on having coverage everywhere it goes.
Bitcoin miners expend large amounts of computing power to prove that they did the work required to cryptographically secure the blockchain. Helium has come up with something similar, monitoring the physical signatures created when a device emits radio waves to cryptographically verify that they are providing coverage in a specific location.
Miners connect to the network using devices called gateways, which are something like wi-fi routers, only they use less power and provide better range. They get paid to take data from connected devices and transport it to its destination through the internet.
Helium’s cryptocurrency may end up providing genuine utility, but right now it’s still only an idea in a white paper
Tomi Engdahl says:
The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers
https://www.bloomberg.com/news/articles/2018-05-09/bunkers-for-the-wealthy-are-said-to-hoard-10-billion-of-bitcoin
Xapo’s Casares is Bitcoin’s ‘Patient Zero’ in Silicon Valley
Fingerprint scanners prevent amputated hands from being used
Argentine entrepreneur Wences Casares has spent the past several years persuading Silicon Valley millionaires and billionaires that Bitcoin is the global currency of the future, that they need to buy some, and that he’s the man to safeguard it. His startup, Xapo, has built a network of underground vaults on five continents, including one in a decommissioned Swiss military bunker.
In the rarefied world of wealth management, Xapo is known for a client list studded with family offices, and for occasionally letting a journalist peek into a stronghold to write about its security. But one secret has proven elusive: how much digital cash does it really hold?
Two Xapo clients said it houses roughly $10 billion of Bitcoin. Another person close to the venture called the figure an accurate approximation. Bitcoin’s price, after all, is hardly steady.
Even in the colorful world of crypto the cache is remarkable — amounting to about 7 percent of the global Bitcoin supply. It would mean Xapo, just 4 years old, has more “deposits” than 98 percent of the roughly 5,670 banks in the U.S. But as a custodian it’s regulated differently. The Swiss subsidiary is overseen by the self-regulating Financial Services Standards Association, which audits members to ensure they comply with anti-money-laundering rules. Xapo serves U.S. customers through a Delaware corporation that’s registered with the U.S. Treasury Department’s Financial Crimes Enforcement Network and is licensed in several states.
Tomi Engdahl says:
https://www.talouselama.fi/uutiset/tassako-se-oli-bitcoinin-kurssiin-ilmestyi-kammoksuttu-kuolemanristi-ekonomistit-laskivat-aiemmin-arvoksi-20-dollaria/5ee72d44-284c-3503-a333-8b5c82c3796b
Tomi Engdahl says:
https://techcrunch.com/2018/05/12/what-do-ai-and-blockchain-mean-for-the-rule-of-law/?utm_source=tcfbpage&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&sr_share=facebook
Tomi Engdahl says:
Sumeet Chatterjee / Reuters:
HSBC claims it has completed the world’s first trade-finance interbank transaction using blockchain technology with Dutch bank ING
HSBC says performs first trade finance deal using single blockchain system
https://www.reuters.com/article/us-hsbc-blockchain/hsbc-says-performs-first-trade-finance-transaction-using-blockchain-idUSKCN1IF01X
HSBC Holdings Plc (HSBA.L) said on Monday it has performed the world’s first trade finance transaction using a single blockchain platform, in a push to boost efficiency in the multi-trillion-dollar funding of international trade.
HSBC and Dutch bank ING completed the deal for Cargill last week when a shipment of soybeans was transported from Argentina to Malaysia via the global commodities trader’s Geneva and Singapore subsidiaries, the British lender said in a statement.
While there have been other trade finance deals that use blockchain in conjunction with other technologies, the Cargill transaction marked the first use of a single, shared digital application rather than multiple systems, HSBC said.
The use of blockchain technology in the banking industry is expected to reduce the risk of fraud in letters of credit (LoC) and other transactions as well as cut down on the number of steps used.
Tomi Engdahl says:
Zimbabwe bans banks from processing payments for cryptocurrencies
https://www.reuters.com/article/us-crypto-currencies-zimbabwe/zimbabwe-bans-banks-from-processing-payments-for-cryptocurrencies-idUSKCN1IF0V4
Zimbabwe’s central bank has stopped local banks from trading or processing payments linked to cryptocurrencies like bitcoin, its governor said on Monday, but stopped short of banning local cryptocurrency trading exchanges.
In the southern African nation, those who trade in bitcoin say it offers rare protection as their bank deposits lose value almost by the day while others use it to fund family members studying abroad or purchase goods online.
Tomi Engdahl says:
Ripple is going after startups to build an ecosystem around the XRP cryptocurrency
Former head of Facebook’s developer network leads ‘Xpring’ initiative to expand the $28B cryptocurrency
https://techcrunch.com/2018/05/14/ripple-xpring/?utm_source=tcfbpage&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&utm_content=FaceBook&sr_share=facebook
Ripple is going after startups to build an ecosystem around the XRP cryptocurrency
Former head of Facebook’s developer network leads ‘Xpring’ initiative to expand the $28B cryptocurrency
Jon Russell
@jonrussell / 6 hours ago
Ripple coin
It’s finally happening. Ripple is making a push to expand the use of the XRP cryptocurrency it created into new verticals and segments beyond the payment and banking space where the company is focused.
XRP is the world’s third-largest cryptocurrency behind only bitcoin, the original breakout artist, and Ethereum, the platform that most developers plump for. XRP has a total ‘coin market cap’ of $28.7 billion today, according to Coinmarketcap.com
Tomi Engdahl says:
David Vorick / Sia Blog:
Cofounder of ASIC-maker Obelisk on the state of PoW mining: challenges of ASIC-resistant hard forks, many new coins are optimized for secret ASIC designs, more
The State of Cryptocurrency Mining
https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b
For those new to the blog, I am the lead developer of Sia, a blockchain based cloud storage platform. About a year ago, myself and some members of the Sia team started Obelisk, a cryptocurrency ASIC manufacturing company. Our first ASICs are going to ship in about 8 weeks, and our journey with Obelisk has given us a lot of insight into the world of cryptocurrency mining.
Since starting Obelisk, we’ve learned a lot about the mining space, as relevant to GPUs, to ASICs, to FPGAs, to ASIC resistance, mining farms, electricity, and to a whole host of other subjects that coin developers should be more aware of. We aren’t able to share everything that we know, but we’ve pulled together information on a set of key topics
ASIC Resistance
We’ve been pessimistic on ASIC resistance for a long time, and our journey into the hardware world solidly confirmed our position. Hardware is extremely flexible. General purpose computational devices like CPUs, GPUs, and even DRAM all make substantial compromises to their true potential in order to be useful for general computation. For basic hardware development, most algorithms can see substantial optimization just by taking away all of that generality and focusing on one specific thing.
The key is to make sorting memory. A lot of algorithm designers don’t seem to realize that in an ASIC, you can merge the computational and storage pieces of a chip. When a GPU does equihash computations, it has to go all the way out to off-chip memory, bring data to the computational cores, manipulate the data, and then send the altered data all the way back out to the off-chip memory.
For equihash, the manipulations that you need to make to the data are simple enough that you can just merge the memory and computation together, meaning that you can do most of your manipulating in-place
Needless to say, we weren’t the least bit surprised when Bitmain released powerful ASICs for equihash. The Bitmain ASICs are actually substantially less performant (5x to 10x) than our own internal study suggested they would be.
We also had loose designs for ethash (Ethereum’s algorithm). Admittedly, ethash was not as easily amenable to ASICs as equihash, but as we’ve seen from products on the market today, you can still do well enough to obsolete GPUs. Ethash is by far the most ASIC resistant algorithm we’ve looked at
For any algorithm, there will always be a path that custom hardware engineers can take to beat out general purpose hardware.
Hardfork Resistance
A lot of people believe that computing is broken up into 3 categories: CPU, GPU, and ASIC. While those are the categories that are generally visible to the public, in the chip world there’s really only one type of chip: an ASIC. Internally, Nvidia, Intel, and other companies refer to their products as ASICs. The categories as known to the public are really a statement about how flexible the ASIC is.
I would like to use a 1 to 10 scale to measure flexibility. At one side, a ‘1’, we’ll put an Intel CPU. And at the other side, a ‘10’, we’ll put a bitcoin ASIC. Designers have the ability to create chips that fall anywhere on this scale. As you move from a ‘1’ to a ‘10’, you lose substantial flexibility, but gain substantial performance.
Generally speaking, we don’t see products developed that fall anywhere between a GPU and a fully inflexibile ASIC because typically by the time you’ve given up enough flexibility to move away from a GPU, you’ve only got a very specific application in mind and you are willing to sacrifice every last bit of flexibility to maximize performance. It’s also a lot less costly to design fully inflexible ASICs, which is another reason you don’t see too many things in the middle.
The Monero devs have committed to keeping the same general structure for the PoW algorithm, and because of that commitment we believe that you could make a Monero miner capable of surviving hard forks with less than a 5x hit to performance.
Equihash is an algorithm that has three parameters. Zcash mining happens with one particular choice for these parameters, and any naive hardfork from Zcash to drop ASICs would likely involve changing one or more of these parameters.
I think there are a lot of people out there who do not realize that flexible ASICs are possible, and expected that routinely doing small hardforks to disrupt any ASICs on the network would be sufficient.
A few months ago, it was publicly exposed that ASICs had been developed in secret to mine Monero. My sources say that they had been mining on these secret ASICs since early 2017, and got almost a full year of secret mining in before discovery. The ROI on those secret ASICs was massive
It’s estimated that Monero’s secret ASICs made up more than 50% of the hashrate for almost a full year before discovery
a 51% attack could have been executed at any time.
Monero’s hardfork appears to have been successful in shaking the ASICs.
My strong guess is that Monero is going to have another round of secret ASICs built
We’ve heard rumors of plenty of other secret ASICs. People who own secret ASICs tend not to talk about them very much
We believe a full 3 different groups were actively mining on Zcash with different ASICs prior to the Bitmain Z9 announcement.
We know of mining farms that are willing to pay millions of dollars for exclusive access to designs for specific cryptocurrencies.
The ASIC game has become such an advanced game because there is so much money on the table. Even small coins can be worth tens of millions of dollars, which is more than enough to justify a high-risk production run.
Manufacturers that sell ASICs to the public, like Bitmain, tend to be less exposed than consumers to things like ASIC hardforks. Using Sia as an example, we estimate it cost Bitmain less than $10 million to bring the A3 to market. Within 8 minutes of announcing the A3, Bitmain already had more than $20 million in sales for the hardware they spent $10 million designing and manufacturing.
Before any of the miners had made any returns for customers, Bitmain had recovered their full initial investment and more.
In this case, a hardfork doesn’t hurt Bitmain.
The mining game is weighted heavily in favor of the manufacturers. They get to control the hardware production, the supply, and they know more about the state of the industry than anyone else. The profitability of a miner largely depends on variables that the manufacturer controls without disclosure to anyone else.
While we don’t know exactly how many A3 units got sold, we suspect that the profit margins they made on their batch 2 sales are greater than the potential block reward from mining using the A3 units. That is to say, Bitmain sold over a hundred million dollars in mining rigs knowing that the block reward was not large enough for their customers to make back that money, even assuming free electricity. And this isn’t the first time, they pulled something similar with the Dash miners.
At the end of the day, cryptocurrency miner manufacturers are selling money printing machines.
The buyer needs to understand why the manufacturer is selling the units instead of keeping them for themselves.
There are a few reasons it would make sense for a manufacturer to sell a money printing machine rather than keep it.
the shelf life of miners tends to be under two years
In the traditional chip development world, it takes about 2 years to go from launching a development effort to getting a chip out out the door.
We believe it took Bitmain about 5 months to create the A3 miner, and we believe it took Halong about 9 months to create the B52 miner. We suspect both of these were completed using place-and-route methodologies, especially given the relatively poor performance of each.
Changing a design to meet a tweak is going to take much less time than starting from scratch, a good team with a well-planned base architecture can probably complete designs in about 2 weeks.
From there, with some help from a hot-lot, you can get a new set of chips in about 40 days. These then need to be packaged, which is going to take around a week, and then sent to the manufacturer for assembly. Finally, you have to get the units to a datacenter and start mining.
could upgrade a chip to adapt to a hardfork and have miners mining on the new hashing algorithm in about 70 days, at least in theory. In practice, Bitmain would probably require 3–4 months
At every step, each provider, manufacturer, etc. is going to be taking margins, typically somewhere around 30% depending on how commodity your orders are.
Hardware goes through a lot of steps.
Those base parts often have lead times that are 6+ months
Every step typically introduces both a middleman and inefficiency, especially because each step is targeted towards general use parts instead of a specific product.
To present a very rough number, it seems to me that every time you 10x the amount of money you are spending, you can save about 30% per part.
Mining Farms
Mining farms are perhaps the one area where manufacturers and economies of scale are not dominant. Good electricity deals tend to come in smaller packages, tend to be distributed around the world, and tend to be difficult to find and each involve unique circumstances.
the cheapest electricity and datacenters in the world tend to be held by smaller parties
From what I’ve been able to dig up, the average professional mining farm is paying somewhere between 4 and 6 cents for electricity, and then another 3 to 6 cents for management and maintenance. A total cost of $50 per kilowatt per month is probably somewhere close to the median for large scale mining farms.
The top 20% of miners all seem to be below $35 per kilowatt per month already, from what we’ve been able to glean, and the top 5% seem to be below $20 per kilowatt per month.
The Chip is not Important
Most mining startups seem incredibly focused around the chip itself. From what we’ve seen, the chip is really less than half the story.
As a miner, the goal at the end of the day is to do as many hashes as possible for as little money as possible. A faster chip means that you need to spend less money on chips to get hashrate. And a more energy efficient chip means you need to spend less money on electricity to get hashrate.
You spend money on PCB, on controllers, on ports like ethernet ports, on power supplies and power management, on fans, on enclosures, on shelves in your datacenter, etc.
At the end of the day the chip is only a portion of the equation for mining successfully.
Bitmain is Impressive
People tend to under-estimate Bitmain. Yes, they have the most money, and yes, they dominate because of their economies of scale. But they also dominate because they’ve got the fastest to-market time of any company. They dominate because they’ve got the best chip developers in cryptocurrency. They hire the best people and pay them well.
They play dirty because it’s yet another place they can optimize their business, and because they know they can get away with it.
Conclusion
The biggest takeaway from all of this is that mining is for big players. The more money you spend, the more of an advantage you have, and there’s not an easy way to change that equation.
Manufacturing just inherently leads to centralization
Decentralization of hashrate is a good-to-have, but there are a large number of other incentives and mechanisms at play that keep monopoly manufacturers in line.
There are plenty of other tools available to cryptocurrency developers and communities as well to deal with a hostile hashrate base, including hardforks and community splits. The hashrate owners know this, and as a result they are careful not to do anything that would cause a revolt or threaten their healthy profit streams.
Tomi Engdahl says:
Michael del Castillo / Forbes:
Winklevoss’ Gemini exchange to add support for Zcash on May 19, along with Litecoin and Bitcoin Cash at a later date, after receiving approval from NY regulator
Winklevoss Brothers Bitcoin Exchange Adds Zcash, Litecoin, Bitcoin Cash
https://www.forbes.com/sites/michaeldelcastillo/2018/05/14/winklevoss-brothers-bitcoin-exchange-adds-zcash/#3f998756b98e
Tomi Engdahl says:
According economists Bitcoin’s real value would be 20 Euros
https://m.kauppalehti.fi/uutiset/kaksi-ekonomistia-tyhjensi-kaksi-pulloa-viinia-ja-laski-ruokaliinaan-bitcoinin-todellisen-arvon–bloomberg-nyt-40-000–ylihintaa/4HXZKzk2?_ga=2.56026792.206809405.1526359478-629023740.1517056929
Tomi Engdahl says:
Lily Katz / Bloomberg:
At CoinDesk’s Consensus crypto conference in NYC, with 100+ sponsors, Lamborghinis cruise the streets and gimmicks include staged protests by mock bankers — John Nouri makes a living renting out exotic cars for weddings, birthdays, bachelorette parties, and now … Bitcoin conferences?
At NYC’s Big Crypto Conference, the Lamborghinis Are Rented and Protests Are Staged
https://www.bloomberg.com/news/articles/2018-05-14/staged-protests-rented-lambos-show-bitcoin-hype-alive-and-well
Today he stood outside the Hilton Midtown hotel in Manhattan, guarding three Lamborghinis — bright orange, navy blue and black — that Broadway SuperCars had rented to BitMex for the day. Nouri declined to disclose how much the crypto exchange had paid, but said a rental like that typically goes for around $1,000.
The flashy cars that symbolize conspicuous consumption among Bitcoin true-believers had caused a stir earlier as they roared through the streets near the hotel. Another stunt came from an upstart mining company called Genesis Mining. The firm hired actors to portray aggrieved bankers who will lose their financial services jobs when blockchain takes over the industry.
The gimmicks show that the hype that surrounded Bitcoin as it burst on the mainstream last year remains alive and well even after the biggest digital coin fell more than 50 percent from its December peak of almost $20,000.
Genesis said the protest was a “fun way” to show how crypto can upend banking “if they fail to adapt to the new world we live in,” according to a blog post on its website.
The hype is real at Consensus, the biggest of about two dozen events that make up “Blockchain Week.’’
Tomi Engdahl says:
https://www.wired.com/story/ethereal-summit-blockchain-art/
Tomi Engdahl says:
Chipmaker Nvidia sees fewer crypto miners, more gamers in future
https://www.reuters.com/article/us-nvidia-results/chipmaker-nvidia-sees-fewer-crypto-miners-more-gamers-in-future-idUSKBN1IB2X8
Too many cryptocurrency clients and fewer cloud computing orders than expected underwhelmed Nvidia Corp (NVDA.O) investors on Thursday, although the graphics chip maker said a supply shortage that hit its core video game audience had eased.
Tomi Engdahl says:
Neer Varshney / The Next Web:
HTC announces plans for Exodus, an Android phone that will come with native support for protocols like Bitcoin and Ethereum and have an improved DApp experience
HTC is launching a blockchain-powered phone
https://thenextweb.com/hardfork/2018/05/15/htc-blockchain-powered-phone/
The phone is being designed especially for better cryptocurrency and DApp user-experience
HTC is developing a new Android phone that will be powered by blockchain technology.
The phone, named Exodus, will feature a universal wallet and a built-in secure hardware enclave to support cryptocurrencies and decentralized applications.
HTC has roped back the creator of its virtual reality headset Vive, Phil Chen, who will be responsible for all blockchain and cryptocurrency related initiatives of HTC including Exodus.
The company plans to create a native blockchain network with all exodus phones acting as nodes to facilitate cryptocurrency trading among the phone users.
“Through Exodus, we are excited to be supporting underlying protocols such as Bitcoin, Lightning Networks, Ethereum, Dfinity, and more,”
It is worth noting that HTC is not the first to think of a blockchain powered phone — Sirin Labs’ $1,000 blockchain smart phone, which was announced last September, is slated to be released in October this year.
Blockchain smart phones are touted to offer better security and user experience by integrating cold wallet storage right into the phone, and enabling direct trading of the native cryptocurrency with peers on the phone’s network, without mining fees.
Tomi Engdahl says:
Kate Rooney / CNBC:
Amazon partners with Kaleido, a new startup out of blockchain incubator ConsenSys, to offer the first blockchain SaaS solution available on AWS Marketplace
Amazon is moving into blockchain with a new partnership
https://www.cnbc.com/2018/05/15/amazon-is-moving-into-blockchain-with-a-new-partnership.html
The tech giant’s cloud computing arm is partnering with a start-up called Kaleido to make it easier for customers to put their services on blockchain.
“Introducing Kaleido to AWS customers is going to help customers move faster and not worry about managing blockchain themselves,” Amazon Web Services says.
Founder of Ethereum blockchain Joseph Lubin calls it is a “heavy duty” move by the tech giant to get into blockchain.
Tomi Engdahl says:
https://bittiraha.fi/content/litecoin-bitcoinin-vikkelämpi-pikkusisko
Tomi Engdahl says:
Blockchain: Not just for cryptocurrency
There’s a lot more to blockchain than Bitcoin.
https://opensource.com/article/18/3/blockchain-not-just-cryptocurrency?sc_cid=7016000000127ECAAY
Tomi Engdahl says:
LET MY DATA GO
https://www.htcexodus.com
Our vision is to expand the blockchain ecosystem by creating the world’s first phone dedicated to decentralized applications and security. With the release of the HTC Exodus we can now make this a reality.
Tomi Engdahl says:
Coinbase’s first investment, Compound, earns you interest on crypto
A money market so you can short-sell coins you hate
https://techcrunch.com/2018/05/16/cryptocurrency-compound-interest/
Tomi Engdahl says:
Ubuntu Snap Store app contained cryptocurrency miner
https://betanews.com/2018/05/13/ubuntu-snap-cryptocurrency/
Tomi Engdahl says:
Veridium Labs teams with IBM and Stellar on carbon credit blockchain
https://techcrunch.com/2018/05/15/veridium-labs-teams-with-ibm-and-stellar-on-carbon-credit-blockchain/?utm_source=tcfbpage&sr_share=facebook
Veridium Labs has been trying to solve a hard problem about how to trade carbon offset credits in an open market. The trouble is that more complex credits don’t have a simple value like a stock, and there hasn’t been a formula to determine their individual value. That has made accounting for them and selling them on open exchanges difficult or impossible. It’s a problem Veridium believes they can finally solve with tokens and the blockchain.
This week the company announced a partnership with IBM to sell carbon offset tokens on the Stellar blockchain.
Tomi Engdahl says:
LikeCoin, a cryptocurrency for creators of openly licensed content
https://opensource.com/article/18/5/likecoin?sc_cid=7016000000127ECAAY
Licensing artwork under Creative Commons and making money is no longer at odds.
Conventional wisdom indicates that writers, photographers, artists, and other creators who share their content for free, under Creative Commons and other open licenses, won’t get paid. That means most independent creators don’t make any money by publishing their work on the internet. Enter LikeCoin: a new, open source project that intends to make this convention, where artists often have to compromise or sacrifice in order to contribute, a thing of the past.
The LikeCoin protocol is designed to monetize creative content so creators can focus on creating great material rather than selling it.
https://like.co
Tomi Engdahl says:
https://techcrunch.com/2018/05/13/the-crypto-alternative/?utm_source=tcfbpage&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&sr_share=facebook
Tomi Engdahl says:
Graham Rapier / Business Insider:
SEC created a satirical cryptocurrency site called HoweyCoins to warn investors about ICO scams, complete with a nine-page whitepaper and an expiring 15% bonus — – HoweyCoin, a satirical ICO website made the the US’ top securities regulator, is a warning against scams.
The SEC created a satirical cryptocurrency site called HoweyCoins to warn investors about ICO scams
http://markets.businessinsider.com/currencies/news/sec-makes-satirical-cryptocurrency-site-howeycoins-to-warn-against-ico-scams-2018-5-1024734663
HoweyCoin, a satirical ICO website made the the US’ top securities regulator, is a warning against scams.
The site, which even features a nine-page whitepaper, eventually points people to a more educational page.
“The rapid growth of the ‘ICO’ market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors,” Jay Clayton, the agency’s chairman, said in a press release.
“We embrace new technologies, but we also want investors to see what fraud looks like, so we built this educational site with many of the classic warning signs of fraud,” he continued. “Distributed ledger technology can add efficiency to the capital raising process, but promoters and issuers need to make sure they follow the securities laws. I encourage investors to do their diligence and ask questions.”
Tomi Engdahl says:
Bloomberg:
Canaan, the world’s second-largest maker of bitcoin mining hardware, files for an IPO in Hong Kong that sources say could raise ~$1B and list as early as July
Bitcoin Mining Equipment Maker Canaan Files for $1 Billion IPO
https://www.bloomberg.com/news/articles/2018-05-16/bitcoin-mining-equipment-maker-canaan-files-for-1-billion-ipo
Canaan Inc., the world’s second-biggest maker of bitcoin mining hardware, submitted a listing application to the Hong Kong stock exchange.
A listing of Canaan would be the first Hong Kong IPO from the cryptocurrency industry. The company has about 15 percent of the global market for bitcoin mining chips and computer equipment, trailing Chinese rival Bitmain, according to a February report from Sanford C. Bernstein & Co.
The company’s hardware often ends up in remote locales housing large mining pools that depend on cheap electricity, Co-Chairman Jianping Kong said in an April interview.
The company also announced last year it was developing dedicated chips for use in artificial intelligence applications.
Tomi Engdahl says:
Bloomberg:
CEO Jihan Wu of Bitmain, one of the world’s largest bitcoin mining equipment maker, says the company had booked $3.5B in revenues in 2017 — Even by the standards of Bitcoin, things are crazy in China. As the boom in cryptocurrencies has become the biggest speculative bubble in recorded history …
The World’s Dominant Crypto-Mining Company Wants to Own AI
https://www.bloomberg.com/news/features/2018-05-17/china-s-crypto-chips-king-sets-his-sights-on-ai
In a rare interview, Bitmain’s Jihan Wu talks about his plans to take on Nvidia, Intel, and AMD.
Tomi Engdahl says:
Goldman Sachs Just Launched A New Cryptocurrency
https://futurism.com/goldman-sachs-launched-new-cryptocurrency/
Soon, you may be able to use cryptocurrency to pay for anything from your morning coffee to happy hour drinks (or, you know, maybe some things that aren’t a beverage). And you could do it as easily as you use your credit card or Venmo today.
Circle, a payment startup owned by Goldman Sachs, announced yesterday that it’s launching a new cryptocurrency called the Circle USD Coin. The new currency is basically a digital version of the dollar that you’ll be able to purchase by trading in, you know, real money.
The USD Coin is the first cryptocurrency released by a major financial institution.
goes against the whole point of decentralized and distributed cryptocurrencies like bitcoin
Tomi Engdahl says:
Bitcoin crash could derail other cryptocurrencies
https://www.sciencedaily.com/releases/2018/02/180208104305.htm?utm_medium=cpc&utm_campaign=ScienceDaily_TMD_1&utm_source=TMD
But new research finds traditional markets would be insulated from a sharp devaluation
Date:
February 8, 2018
Source:
Anglia Ruskin University
Summary:
A sharp fall in the value of Bitcoin may cause other cryptocurrencies to crash, but is unlikely to have a significant impact on traditional assets, according to new research.
Tomi Engdahl says:
Bitcoin study reveals false beliefs on ease of use and privacy
https://www.sciencedaily.com/releases/2016/01/160126130836.htm?utm_medium=cpc&utm_campaign=ScienceDaily_TMD_1&utm_source=TMD
Bitcoin — by far the most popular digital currency — has spawned misunderstanding
Tomi Engdahl says:
HILARIOUS SCAM: Kryptonex Research Group and Sweden’s Coin review
https://thebestbinaryoptionsbrokers.net/hilarious-scam-kryptonex-research-group-and-swedens-coin-review
In this review we explain that Kryptonex and Sweden’s Coin are a scam that is made to steal your money.
Kryptonex Research Group claims that they have been chosen by Sweden to promote their national cryptocurrency.
Now you are supposed to make money by buying the Sweden’s coin, because it will rise in value.
Kryptonex Research Group and Sweden’s coin are an incredible and hilarious scam. Here is why.
Sweden has not decided to adopt a national cryptocurrency (nor any other country in this world, for that matter).
Tomi Engdahl says:
Beware of the Kryptonex scam!
https://www.linkedin.com/pulse/beware-kryptonex-scam-gabor-farkas
On one of the News sites about cryptos and blockchain that recently popped-up or possibly on HuffingtonPost, I came across an article titled: Sweden establishes CryptoCurrency as their official coin. A copy of this article can currently be found here: https://cream.technology/crypto-news/1118-sweden-establishes-cryptocurrency-as-their-official-coin
Please beware!