Lifeboat Foundation

The virtual currency markets have been through booms and busts before — and recovered to boom again. But this bust could have a more lasting impact on the technology’s adoption because of the sheer number of ordinary people who invested in digital tokens over the last year, and who are likely to associate cryptocurrencies with financial ruin for a very long time.

The number of people who bought virtual currencies more than doubled last winter. For people who got in late, the bust has been disastrous.

Kenyan banks are seeking regulatory approval to use distributed-ledger technology, also known as blockchain, to distribute payments and create credit-scoring models to rate potential borrowers.

Blockchain is used both by NASA and startups hoping to democratize space.

Analysis.

Continue reading “Houston, We Have a Solution: Blockchain in the Space Industry” »

Let us frame the question, by reviewing what miners really do…

Miners play a critical role in the Bitcoin network. Their activity (searching for a nonce) results in assembling an immutable string of blocks that corroborate and log the universal transaction record. They are the distributed bookkeepers that replace old-school banks in recording and vouching for everyone’s purchase or savings.

From the perspective of a miner, there is no obvious connection between their activity and the worldwide network of bitcoin transactions and record keeping. They are simply playing an online game and competing against thousands of other miners in an effort to solve a complex and ongoing math problem. As they arrive at answers to small pieces of the problem, they are rewarded with bitcoin, which can be easily translated into any currency.

What is the Problem?

Continue reading “How will Bitcoin Work When Mining Rewards Run Out?” »

Eastern Washington had cheap power and tons of space. Then the suitcases of cash started arriving.

Looking to attend or speak at an event about Blockchain?

Join us at Navy Pier in Chicago on August 24th & 25th in bringing the LEADERS in blockchain, government, and business together with the VOICES to learn what is possible from the BUILDERS. 50+ Leaders (Speakers) 100+ Voices (Bloggers, Podcasters, Youtubers) 250+ Builders (Blockchain Projects) 5,000 Attendees.

Today, economist and Nobel laureate, Paul Krugman, wrote in the New York Times, that Bitcoin is taking us back 300 years in monetary evolution. As a result, he predicts all sorts of bad things.

A significant basis for Mr. Krugman’s argument is that the US dollar has value because men with guns say it does.

Is Bitcoin erasing 300 years of monetary evolution?

Running with the metaphor that fundamental change to an economic mechanism represents ‘evolution’, I think a more accurate statement is that Bitcoin is not erasing the lessons of history. Rather, it is the current step in the evolution of money. Of course, with living species, evolution is a gradual process based on natural selection and adaptation. With Bitcoin, change is coming up in the rear view mirror at lightning speed.

Continue reading “Is Bitcoin Erasing 300 years of Monetary Evolution?” »

Xage (pronounced Zage), a blockchain security startup based in Silicon Valley, announced a $12 million Series A investment today led by March Capital Partners. GE Ventures, City Light Capital and NexStar Partners also participated.

The company emerged from stealth in December with a novel idea to secure the myriad of devices in the industrial internet of things on the blockchain. Here’s how I described it in a December 2017 story:

Xage is building a security fabric for IoT, which takes blockchain and synthesizes it with other capabilities to create a secure environment for devices to operate. If the blockchain is at its core a trust mechanism, then it can give companies confidence that their IoT devices can’t be compromised. Xage thinks that the blockchain is the perfect solution to this problem.

Continue reading “Xage secures $12 million Series A for IoT security solution on blockchain” »

What do the Gallic Wars and online shopping have in common? The answer, believe it or not, is cryptography. Cryptography is the cement of the digital world, but it also has a long history that predates the digital era.

Most people do not realize that cryptography is a foundational element to our modern society. At it’s heart cryptography is about access to data, and controlling who can see and use it.

Continue reading “How cryptography enables online shopping, cloud tech, and the blockchain” »