IEEE Pinpoints New Technologies to Go Mainstream by 2023

As it does every year, the IEEE (Institute of Electrical and Electronics Engineers) presented a rundown of emerging technologies it believes will go mainstream in three to five years. “These technologies are still incubated out of the mainstream,” said IP Action Partners president Stuart Lipoff, who moderated the CES event. He identified seven “overarching drivers of emerging technologies,” beginning with managing complexity of feature-rich hardware, QoS-aware broadband connectivity and cheap, abundant storage. Continue reading IEEE Pinpoints New Technologies to Go Mainstream by 2023

Blockchain at CES: Evaluating the Tech’s Hype and Potential

There were twice as many people as chairs throughout the nearly four-hour “Future of Blockchain” CES conference program this week. The enthusiasm of the program’s attendees mirrored that of exhibitors as well as the general anticipation surrounding blockchain and its applications at the show. The new offerings discussed at CES 2018 ranged from Kodak’s resurgence as a rights management platform to fast food chains asking users to mine tokens by eating chicken wings. A number of entertainment-specific blockchain technologies showed promise beyond an alternative means of purchasing content. Continue reading Blockchain at CES: Evaluating the Tech’s Hype and Potential

Expect Security and Privacy to Emerge as Major CES Topics

As connected devices, big data technologies, and artificial intelligence play an increasingly important role across a growing list of business sectors, new approaches to security and privacy will be necessary to safeguard the lifeblood of these systems — data. We expect to see this manifest itself in a number of different ways next month at CES 2018. Differential privacy and, to a larger extent, blockchain technologies (and the growing attention paid to virtual currency systems) are the topics likely to dominate booths in Las Vegas and conference headlines. Continue reading Expect Security and Privacy to Emerge as Major CES Topics

Despite Hacks, Cryptocurrency Mania Drives Up Bitcoin Value

NiceHash, a Slovenian-based marketplace for mining digital currencies, says its payment system has been hacked and the contents of its Bitcoin account stolen. According to its Facebook page, every week NiceHash paid out millions of dollars in Bitcoin weekly, meaning the loss could be significant, especially since Bitcoin has had a precipitous rise in value. Uncertain is whether NiceHash users’ accounts have also been hacked. In light of the unknowns, NiceHash has closed down operations for 24 hours. Meanwhile, Bitcoin enthusiasm continues to rise, as illustrated by a 40 percent jump in price yesterday. Continue reading Despite Hacks, Cryptocurrency Mania Drives Up Bitcoin Value

New SEC Cyber Unit Takes on Cryptocurrency and ICO Fraud

At the Securities and Exchange Commission, chairman Jay Clayton made it clear that there is “very little distinction” between Bitcoin and traditional stocks, suggesting that the SEC believes Bitcoin is subject to securities laws and is willing to act against alleged fraud in an ICO, or initial coin offering. In fact, the SEC new cyber unit did just that for the first time, charging Canada-based cryptocurrency company PlexCorps with violating security laws by selling up to $15 million in an ICO. Clayton said future suits are possible. Continue reading New SEC Cyber Unit Takes on Cryptocurrency and ICO Fraud

Hollywood Producer Plans Initial Coin Offering to Fund Films

Producer Christopher Woodrow (“Birdman,” “Black Mass,” “Hacksaw Ridge”) is about to launch MovieCoin, his own blockchain token, based on his certainty that the cryptocurrency will revolutionize filmmaking. Monies raised in the initial coin offering (ICO) in Q1 2018 will be used to produce a slate of films. Investors, says Woodrow, will benefit because the tokens, which can be traded, will appreciate as the film succeeds. He is currently developing projects that will include top movie stars, directors and producers. Continue reading Hollywood Producer Plans Initial Coin Offering to Fund Films

The Rapid Expansion of Bitcoin Networks Called Off for Now

Bitcoin supporters that wanted to double the number of transactions that run through Bitcoin-supported networks have lost the fight, at least temporarily, to do so. They were opposed by another camp composed of many programmers working on Bitcoin who worried that too rapid expansion would make it easier for a government or company to exert influence over a system prized for being decentralized. Those who wanted to expand Bitcoin wanted to switch to a new software version that would have created a split in the network. Continue reading The Rapid Expansion of Bitcoin Networks Called Off for Now

Steemit: Social Media Platform Pays Contributors for Content

Users of Facebook, Instagram and Twitter enjoy moments of entertainment in exchange for giving up personal data to social media platforms that monetize the information. Steemit, a social news and networking site on top of a blockchain database, has a plan to change that paradigm, paying users in cryptocurrency for every post. The virtual currency, dubbed Steem, can be cashed out into hard currency — or amassed for those who believe in Steemit’s future. The new company started as a 44-page white paper released in March 2016, arguing that content creators should be paid. Continue reading Steemit: Social Media Platform Pays Contributors for Content

Are Cryptocurrencies Next Big Bust or Revolution in Finance?

Jackson Palmer and his once-wildly successful cryptocurrency Dogecoin are a cautionary tale for those bedazzled by Bitcoin. Palmer was an early enthusiast of cryptocurrency, but sought a way to mock the hype around investing huge sums of money in it. He created his own cryptocurrency, Dogecoin, based on an Internet meme of a Shiba Inu dog. Instead of getting the joke, investors brought Dogecoin’s market value to $400 million, before scammers and hackers brought it down, selling fake products and defrauding investors. Continue reading Are Cryptocurrencies Next Big Bust or Revolution in Finance?

Sources Say China Is Planning to Shutter Bitcoin Exchanges

The Chinese government, increasingly uneasy about virtual currency, is on the verge of shutting down the country’s Bitcoin exchanges, say sources. The move comes as the government focuses on preventing capital from leaving to digital currencies. But if China, the world’s No. 2 economy, does indeed take this step, the market for cryptocurrencies, including all the new companies using it, will feel the impact. Of all the virtual currencies, Bitcoin is the largest, since restrictions on it were loosened in Japan and elsewhere. Continue reading Sources Say China Is Planning to Shutter Bitcoin Exchanges

OTOY Uses Blockchain Tech for Distributed Cloud Rendering

The technology underlying Bitcoin is now under development to render 3D visual effects. Los Angeles-based OTOY, which provides a GPU-based software system to create a cloud-based pipeline for 3D content, is hoping to raise as much as $134 million to develop Rndr, distributed cloud rendering for VR and other content, via blockchain technology. HBO and Discovery have invested in OTOY, which has also partnered with Facebook and Mattel. Relying on cloud-based GPUs for rendering is a much less expensive solution than supercomputers. Continue reading OTOY Uses Blockchain Tech for Distributed Cloud Rendering

SEC Rules That Blockchain Tokens Are Regulated Securities

The Securities and Exchange Commission (SEC) has ruled that blockchain tokens sold through token sales are to be classified as securities, a ruling that was anticipated and that will have a powerful impact on projects looking to fundraise from U.S. investors. The ruling follows an investigation of The DAO, which raised a record-breaking ICO (Initial Coin Offering) last May and then lost one-third of it in a hack. As a result, part of the Ethereum community executed a rollback transaction of the DAO fundraising; The DAO has since been delisted. Continue reading SEC Rules That Blockchain Tokens Are Regulated Securities

Chat App Kik Plans Debut of Ethereum-Based Cryptocurrency

Ted Livingston, founder/chief executive of messaging app Kik, is a Bitcoin enthusiast — so much so that he plans to debut his own cryptocurrency, dubbed Kin and based on the Ethereum network, later this summer. The company plans what is called an initial coin offering (ICO), which lets startups create their own digital money, raise funds via crowdsourcing, and thus develop their own cyber economies. Livingston had previously launched another cryptocurrency, Kik Points, in 2014, which ended its run in the fall. Continue reading Chat App Kik Plans Debut of Ethereum-Based Cryptocurrency

Bitcoin Market Trending Upwards, But Ethereum On the Rise

The Bitcoin market, almost a decade old, is now skyrocketing in value. Behind Bitcoin’s rising price are investments by Japanese investors and a heightened perception of global perils. Over the weekend, according to the website CoinDesk, the price of Bitcoin reacted to a sudden spell of speculative investment, trading above $2,200 on Monday, which represents more than 15 percent from the closing price of $1,913 on Friday. Bitcoin is up 397 percent from a year ago and 130 percent this year. Continue reading Bitcoin Market Trending Upwards, But Ethereum On the Rise

Latest Cryptocurrency Cybertheft Could Shake Faith in Bitcoin

Hong Kong exchange Bitfinex was hacked and funds were stolen, marking a setback for digital currency Bitcoin. Bitfinex director of community and product development Zane Tackett posted on Reddit that 119,756 Bitcoins had been stolen. “Before the hacking was made public, that number of Bitcoins would have been worth about $72 million,” explains The New York Times. “Now that the currency has slumped, the figure is closer to $65 million.” During its investigation, Bitfinex has stopped all trading, deposits and withdrawals. The security breach is the latest in a series of events that could impact the viability of virtual currency. Continue reading Latest Cryptocurrency Cybertheft Could Shake Faith in Bitcoin

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