As the markets continue to drop and the U.S. looks to Congress for agreement on a massive stimulus package to save the economy from impacts of the coronavirus pandemic, the newest offer by House Democrats includes a very forward-looking kind of stimulus: the creation of a ‘digital dollar’ and the establishment of ‘digital dollar wallets.’ In what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital […]
Apple co-founder and noted bitcoin bull Steve Wozniak says the hype around blockchain is similar to what he saw in the dotcom era, with companies going belly-up at a rapid rate.
“It was a bubble, and I feel that way about blockchain,” Wozniak said Tuesday on stage at the NEX technology conference in New York.
Still, he said blockchain technology has real implementation potential, because it’s “decentralized and totally trustworthy.” But like the internet, it could take longer than expected to catch up to its early hype.
“If you look now you say all that internet stuff happened, we got it, it just took a while,” Wozniak said. “It doesn’t change in a day, a lot of the blockchain ideas that are really good by coming out early they can burn themselves out by not being prepared to be stable in the long run.”
“All of the sudden it was way down, then way up in the sky,” he said. “I got scared, and sold everything but one bitcoin.”
Wozniak also floated the idea of using blockchain for social networks, and a competitor to Facebook, which he said is ripe for disruption and operating a monopoly at the moment.
Alternet Systems Inc (ALYI), an energy storage, military application, and electric motorcycle firm, has entered into a new partnership to launch a cryptocurrency dedicated to funding electric vehicle projects in Sub-Saharan Africa, according to a March 11 announcement.
While Alternet did not name the company it has partnered with, Alternet Systems revealed that the cryptocurrency has successfully been minted on the Ethereum blockchain.
Alternet Systems plans $100 million ICO
ALYI plans to raise $100 million through an initial coin offering (ICO), adding that the planned token sale has “received interest from an investor that may underwrite the $100 million offering.”
Alternet Systems notes that it is currently the only firm in partnership with the cryptocurrency initiative.
ALYI is currently conducting a regulatory review and developing its marketing plan for the ICO.
Blockchain firms invest in the African market
Alternet Systems’ planned ICO comes amid increasing interest and investment in the African market from companies operating within the blockchain and crypto space.
On March 9, the Bill and Melinda Gates Foundation reportedly awarded a $1.4 million grant to blockchain-enabled fintech security firm, Crest to expand its digital financial services to the unbanked populations of Africa and Asia.
Boeing has partnered with multinational aerospace conglomerate Honeywell to use its GoDirect platform to track and sell $1 billion worth of excess airplane parts using blockchain technology.
The partnership was revealed at the Hyperledger Global Forum 2020 in Arizona. Lisa Butters, the general manager of Honeywell, stated that the parts were uploaded to the GoDirect Trade marketplace last weekend.
Blockchain opens spare aviation parts industry to online trade
The aviation industry has traditionally relied on a headache-inducing web of paper certificates pertaining to each individual part, their original manufacturer, and current safety standards.
The documents must also be physically moved between numerous locations, which has prevented the market for aviation parts from developing online due to forgery concerns.
As such, GoDirect Trade seeks to open the aviation parts industry up to digital commerce — with Butters estimating that only 3% of the $14 billion market takes place online.
Aviation parts are typically re-sold four times before being decommissioned, highlighting the benefits offered by distributed technology in being able to certify the authenticity of relevant documentation.
Cryptocurrency exchange Binance has officially apologized to the Steemit community following its involvement in a major centralization scandal involving Tron founder Justin Sun. In its letter posted on March 10, Binance affirmed that it “stays neutral and has no interest in on-chain governance beyond the Binance ecosystem.” Binance also provided records of its powering down of all the 31,730,000 STEEM tokens it had staked in support of Justin Tron’s allegedly “hostile takeover” of the […]
Binance is suspected of using users‘ Steemit tokens to support Justin‘s vote.The Steemit Drama is NOT over yet. After Binance closed the Steemit withdrawal function B once again performed temporary system maintenance suspended Deposit,withdrawals,spot and leveraged functions pic.twitter.com/1GgCQfXy1M
Tristan Colombet, CEO of Auctionity, is currently at the EthCC in Paris # crypto # blockchain # EthCC # ethereum # FranceBlockchainWeek Here’s a pic from Vitalik’s conference pic.twitter.com/SUQLJsMBu2
The U.S. Customs and Border Protection (CBP) said it recently completed a proof-of-concept (PoC) of a blockchain platform to protect American businesses from intellectual property rights (IPR) theft by testing imports. The PoC demonstrated how blockchain could enable secure communication between multiple parties such as manufacturers, retailers, rights holders and importers using a single platform. IPR owners live under the constant risk of their product getting copied, primarily due to the ease of access […]
The Contadino autonomous implement carrier can be used for seeding, weeding, spraying, fertilizing and monitoring. Continental, which developed the robot, exhibited it at AgriTechnica 2019. Editor’s note: The first part of this article was published in the Feb. 27 issue of Agri-View. WISCONSIN DELLS, Wis. – From new seed traits to blockchain technology for tracking food through the supply chain, technical innovations are shaping agriculture. Six innovations in particular were recently highlighted by Willie […]
Stablecoins have a goal of putting an end to the recent volatility of the crypto market — and in doing so, they have opened the door to crypto usage for institutional investors, which has long been considered an important milestone on the road to mainstream adoption. One of the ways that institutional investors are looking to implement crypto solutions is in cross-border payments and remittances.
The RippleNet blockchain is one such product, which aims to reinvent how these payments are made. Recently, Cointelegraph reported that PNC, the United States’ eighth-largest bank, has become the first in the country to start using the cross-border payments solution xCurrent. Earlier, Cointelegraph reported that Spanish banking giant Santander was also looking to make use of the solution from Ripple.
In an email conversation with Cointelegraph, Ripple explained how xCurrent will benefit PNC’s customers:
“With more than eight million customers and retail branches in 19 states across the U.S., RippleNet enables PNC’s commercial clients to receive payments instantly and revolutionise the way they process cash flow and manage accounts. With xCurrent, PNC can communicate with customers instantly and confirm payments both before and after a transaction.”