Blockchain offers a fully transparent, totally unchangeable ledger of transactions. Each of those transactions, roughly, makes up a “block” which connects to other blocks in a long chain of blocks by means of a checksum, which is a block of data derived from the previous block in the chain that serves to verify the integrity of the data in both blocks and “cement” the block’s place in the chain. Once in place in the blockchain, that block’s place can never be altered or erased. Over in Germany, a team from Ford is working to show how blockchain can complement geofencing — the creation of a digital “fence” around a given, real geographic area — to enhance governments’ efforts to improve urban air quality for their citizens.
The way it works is that low-emission and zero-emission vehicles like the Ford Transit PHEV are tracked as they enter and leave the low-emissions “green zones” that are becoming commonplace across Europe in the wake of diesel engine bans. The Ford vans offer geofencing technology as standard, which allows fleet managers to keep drivers in their given work zones and puts the van into a “pure” EV mode as it enters and leaves the green zones. The municipal fleet in Cologne, Germany, took that geofencing a step further by using blockchain technology to record the vans’ movements into a blockchain ledger, so that the number of “green miles” driven in that city’s low-emission zone could be securely and transparently stored online, where it could be shared among relevant stakeholders without being manipulated by one party or another to advance their own agenda.
The trial also is also targeting the effects of dynamic geo fencing on overall air quality, instead of a fixed low-emission zone triggering the vehicles’ zero-emission modes. In practice, that meant Ford’s dynamic geofencing was constantly switching between “pure” EV and ICE drive based on air quality data that was being captured by weather science company Climacell and the City of Cologne. As pollution shifted amid changing winds, shifting weather conditions, and pedestrian traffic patterns, the hybrids kicked in their electric drives where they would be most beneficial, and switched on the ICE where its direct impact on people could be minimized.
“Our research has shown how plug-in hybrid vehicles, and emerging connected technologies such as dynamic geofencing and blockchain, can play a major role in transforming cities,” said Mark Harvey, director of enterprise connectivity for Ford in Europe. “With their zero-emission capability … PHEVs offer a practical, flexible alternative to diesel.”
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WASHINGTON–(BUSINESS WIRE)–LACChain, a global alliance led by the innovation laboratory of the Inter-American Development Bank Group (IDB Lab) to accelerate the development of an open and interoperable blockchain ecosystem in Latin America and the Caribbean, has announced today that Block.one, which specializes in high-performance blockchain software, has joined their alliance. As the developer of EOSIO, Block.one becomes a strategic partner in providing technical expertise, supported by existing infrastructure providers EOS Costa Rica and EOS Argentina, to empower local entrepreneurs and governments using EOSIO to improve economies, supply chains and infrastructure.
Since its foundation, the LACChain Global Alliance has signed multiple partnerships and collaborations. Today, the ecosystem has 40 partners in 12 countries in the Latin American and Caribbean region, a figure that grows week by week. LACChain has currently two blockchain networks that apply the LACChain framework: the LACChain Consensys Quorum Network (a.k.a Besu) and the LACChain EOSIO Network, which add up to a total of 78 nodes that have generated more than 21 million blocks and that are being used in 24 projects in different phases of deployment, receiving an average of 12,000 transactions per day during January 2021.
“LACChain is a techno-legal framework enabling enterprise use of blockchain with transformative impact, not a mere new protocol,” said the leader of LACChain and IDB Lab Principal Specialist Alejandro Pardo. “We care about performance, usability, and building the technology infrastructure to support further development of applications with impact on inclusion by our communities.”
“Our goal at Block.one is to change how the world works so that it is more transparent, trustworthy, and efficient, which is why we’re excited to join the LACChain alliance,” said Bart Wyatt, VP of Blockchain Engineering at Block.one. “In this technical advisory role, we look forward to helping LACChain drive adoption and awareness of the EOSIO platform through educational programs, deeper technical collaboration and community engagement initiatives.”
“We’ve been providing robust, reliable infrastructure for blockchains for the last 6 years from Latin America, and we’re excited to see how we can accelerate blockchain adoption when we combine our specialized regional expertise to Block.one’s innovation and the broad reach of the IDB,” said Edgar Fernandez, cofounder of EOS Costa Rica.
Equipped with cutting-edge technology and the support from influential local institutions, the LACChain Ecosystem helps to deploy solutions for the most pressing public sector issues: economic instability, 50-70% population is still unbanked, lack of formal ID for migrants as well as corruption and lack of accountability across industrial sectors. Projects in development include:
DeFi and Tokenized Fiat Money
ioCash and Peru Compras facilitate business transactions; A cross-border payment initiative involvingInter-American Development Bank (IDB), uses stablecoins to deploy emergency funds to any part of Latin America, in an instant, free and locally redeemable fashion.
Blockcerts Caribe, a real-time digital academic diploma verification system to be implemented in Jamaica, Barbados, Trinidad and Tobago, and 13 other countries in the Caribbean. The association is actively building infrastructure for the establishment of a digital identity system based on Self-Sovereign Identity (SSI).
CADENA is a blockchain solution built to improve the cross-border exchange of data between customs administrations across Chile, Colombia, Costa Rica, México, Perú, Bolivia, Guatemala and Ecuador.
About LACChain & the Innovation Laboratory of the Inter-American Development Bank Group:
LACChain is a global alliance integrated by different actors in the blockchain environment and led by the innovation laboratory of the Inter-American Development Bank Group (IDB LAB) for the development of the blockchain ecosystem in Latin America and the Caribbean. The expected results are based on the empowerment of people, the improvement of digital security, the generation of trust in the economy and digital society, fostered in the efficient use of energy and thus supporting inclusive growth, wellbeing, human rights and fundamental values. For more information, please visit www.lacchain.netand https://bidlab.org/en.
Block.one is a software firm specializing in high-performance blockchain technologies. A pioneer in distributed ledger innovation, Block.one develops the EOSIO open-source software, which is widely regarded as the market leader for blockchain power and scalability. Companies and developers around the world use EOSIO to create secure, transparent, and performant digital infrastructures. Block.one is committed to empowering society by providing technology and products that enable trust in transactions, transparency in systems, and efficiency in how the world works. To learn more about Block.one, please visit block.one. All Block.one materials are provided subject to this important notice, which contains important information, limitations and restrictions relating to our software, publications, trademarks, third-party resources and forward-looking statements.
LatamLink is a voluntary regional alliance led by Latin American technology companies, EOS Costa Rica, EOS Argentina and EOS Venezuela. LatamLink deploys infrastructure for enterprise blockchains and has recently built a public permissioned version of EOSIO technology for LACCHAIN organizations to test their decentralized applications and infrastructure. Learn more at latamlink.io.
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J.P. Morgan Chase recently sent blockchain payments between satellites orbiting Earth in a test of the Internet of Things (IoT) payments technology.
IoT payments technology will allow consumers to pay for products via their smart devices, like having their self-driving car pay for gas, Umar Farooq, CEO of Onyx, J.P. Morgan’s blockchain development unit, told Reuters.
But they chose to test it in space for a fully decentralized setting — and because, Farooq added, “we are nerdy and it was a much more fun way to test IoT.”
The satellite test proved IoT payments possible, and also demonstrated the possibility of a data marketplace between private companies’ satellites.
J.P. Morgan used GOMspace’s satellites to run the test, Reuters reported.
In other news, crypto exchange Paxos is filing for a clearing agency license with the U.S. Securities and Exchange Commission (SEC), CoinDesk reported.
As a clearing agency, Paxos would be able to facilitate payments and transfer securities for exchanges in the U.S. securities markets. Currently, Depository Trust & Clearing Corporation (DTCC) is the only such clearing agency in the U.S.
Paxos already settles trades of U.S. equities, but wants to be a full clearing agency, Charles Cascarilla, CEO and founder of Paxos, told CoinDesk.
Cascarilla suggested that a blockchain-based clearing agency might provide greater efficiency in the market, as it would allow Paxos to settle trade same-day, rather than the DTCC’s two-day settlement period. But he wasn’t so sure about its ability to handle the volume of trades.
“I think that will be the case in the future, but, for instance to be able to handle 500 million transactions,” he told CoinDesk. “That is something that you can’t put through, for instance, the Ethereum blockchain.”
Meanwhile, business intelligence firm MicroStrategy bought 19,542 bitcoin, bringing its total bitcoin ownership to 90,531, the company announced in a press release today (Feb. 24).
MicroStrategy paid approximately $1.026 billion to buy the digital coins, paying about $52,765 per coin, after raising money through a convertible debt sale.
“The Company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin,” said Michael J. Saylor, CEO of MicroStrategy Incorporated, in the press release.
Saylor added that the company plans to continue to acquire more bitcoin and may issue similar debt sales to raise money for the purchases.
Meanwhile, Sebastian Siemiatkowski, Klarna’s CEO, told CNBC that he is “deeply worried” about recent tweets promoting bitcoin. Tweets like those from Tesla CEO Elon Musk have driven bitcoin’s recent rally but have analysts concerned about the effects of this speculative trading.
“If I would take Klarna stock and advertise it with similar writing I would get a fine or I would even be put to jail,” Siemiatkowski said.
He thinks this practice is skating over bitcoin’s risks and could cause retail investor to lose “a lot of money.”
“I am very surprised why regulators aren’t chasing these elements,” he said.
https://vixencrypto.com/wp-content/uploads/2021/02/Holiday-Study-PYMNTS-2021.jpg3921000Stevehttps://vixencrypto.com/wp-content/uploads/2019/12/vixen-crypto-currency-blockchain-300x138.pngSteve2021-02-25 04:40:132021-02-25 04:40:13J.P. Morgan Tests Blockchain Payments From Space
The blockchain sector has gained massive popularity in recent years and has been evolving continuously ever since. A blockchain is a distributed ledger technology (DLT), one among many other distributed ledger technologies and some of these promises to provide more advantages as compared to blockchain.
A Hashgraph is one such distributed ledger technology gaining momentum as it claims to be more secure, efficient, and faster than blockchain. This blog compares the two distributed ledger technologies by explaining what blockchain and Hashgraph mean, their working, and how they stand apart. You can understand how the technologies differ and why pursuing blockchain as a career will work to your advantage.
What Is Distributed Ledger Technology?
Before diving into the comparison, we will start with understanding distributed ledger technology (DLT). DLT is a technical infrastructure that allows participants to communicate through the network to reach a consensus. It refers to allowing simultaneous access and record updating of multiple entities in an incorruptible and immutable manner.
The key feature of DLT is its decentralized approach. It enables participants to transact through a digital database securely. A distributed network means that no single entity has the authority over transaction control and decision making. In this approach, instead of providing one entity (individual or group) with absolute power, it is distributed among the network. It records transaction details in multiple places at the same time.
A distributed ledger technology ensures integrity, transparency, and security of transactions as it ensures that all participants have a copy of their immutable records with no central authority. However, do note that NOT all DLTs have the same features.
What Is Blockchain?
One of the most talked-about forms of distributed ledger technology is Blockchain. It is defined as a decentralized distributed ledger technology that stores transactional records in blocks, and it is accessed by the participants globally over the network. Every time a transaction is added, it becomes another block and forms a chain. It creates an unchangeable record of transactions that can never be erased. Blockchain uses cryptography to provide security to the blocks of records, and the owner has a track of the record through which he can trace it. Blockchain forms a peer-to-peer network where participants can communicate among themselves over the network.
Blockchain technology allows verification without having to depend on third parties. The transactions are in chronological order; therefore, all blocks are time-stamped. Businesses can pre-set conditions using smart contracts, meaning automatic transactions are activated only when the conditions are met. The technology supports the append-only approach; and makes its database immutable, which means that records, once written, cannot be changed or discarded. This proves to be an advantage in problems that require immutability, such as voting, supply chain management, and the banking and finance industry.
Blockchain technology is used by Bitcoin, which was the first-ever cryptocurrency created, and Ethereum, which is the second-largest cryptocurrency and the second generation of blockchain technology.
What Is Hashgraph?
Hashgraph or Hedera Hashgraph is a data information and consensus algorithm that adopts concepts such as gossip about gossip and virtual voting to achieve faster and secure transactions. It claims to overcome the gaps left by blockchain. It is also a peer-to-peer platform that eliminates the need for complete transactional operations.
Hashgraph is known for its speed as it can handle thousands of transactions per second and verify over a million signatures per second. It can be called the new generation of blockchain and may well take over blockchain technology by proving its worth and authenticity.
Hashgraph does not use miners to validate transactions; instead, it uses a directed acrylic graph, which helps in time sequencing the transactions without dividing them into blocks. It utilizes a protocol known as gossip about gossip to send information between nodes in a network. The nodes send data to random members in the network with the history of the previous transaction; this results in the circulation of all the information among all the members.
Hedera Hashgraph has a cryptocurrency of its own called HBAR. It is used to build peer-to-peer payment systems, decentralized applications, develop micropayment solutions, and protect the network.
4 Differences Between Blockchain and Hashgraph
Open-source vs. Patented
Blockchain is an open-source DLT platform and therefore has many people contributing to building cryptocurrencies and utility tokens. Some blockchain enthusiasts have earned the trust of institutes and played up to blockchain’s decentralized nature after defining their quality.
However, Hashgraph is based on a patented algorithm owned by Swirlds. Therefore, any new entry will have to pass through Swirlds.
Hedera Hashgraph uses the gossip about gossip protocol to provide faster transaction speeds as it requires less information to propagate with more events taking place. It can process up to 500,000 transactions per second.
The speed of transactions in blockchain depends upon the implementation of protocols such as Hyperledger, or solutions such as cryptocurrency, blockchain platform such as Ethereum, Corda, and more. However, it is slower than Hashgraph, offering speeds of 100 to 10,000 transactions per second.
Blockchain’s block approach makes it difficult for miners to work on it, as when two blocks are mined at the same time, they have to decide on a single block. This means that the other block gets discarded, and the efforts are wasted.
As Hashgraph doesn’t use the block approach, it is considered 100% efficient since it doesn’t face such problems. No resources are wasted or discarded as all events that are gossiped about to the network are reserved.
Blockchain uses various consensus algorithms depending upon cryptography and currencies. Some of the popular algorithms used by blockchain are Proof-of-Stake, Proof-of-Elapsed Time, Proof-of-Work, Practical Byzantine Fault Tolerance, etc.
Hedera Hashgraph uses virtual voting to gain network consensus. It does not require other algorithms as it can provide low-cost and high performance without failure. Plus, it doesn’t need high computation power and electrical supply.
Hashgraph certainly has various benefits such as efficiency, speed performance, etc., the platform is not yet launched. As a result, experts are unable to determine its true potential. Therefore, we cannot consider the promises made by Hashgraph unless it is publicly released and its implementation prospects are tested. Even though Hashgraph claims to be decentralized, it is only theoretical as the outer government still controls its pace. There are no preventive measures taken to avoid malicious actions and activities caused by the nodes. The history of transactions is limited to a short number meaning that Hashgraph cannot track the record if it has a long history. However, blockchain has been around long enough to prove its potential, and various sectors have benefitted from its features. Therefore, it has the edge over Hashgraph as it overcomes the drawbacks faced by Hashgraph.
This determines that blockchain cannot be replaced easily and has a bright future. Organizations are looking for ways to adapt blockchain into their businesses to benefit from its features. To understand more about the benefits of pursuing blockchain as a career, you can take up certifications that give in-depth knowledge and skills on blockchain technology. Our certified blockchain program (CBP) is one such training program that highlights the key features of blockchain and its real-world applications.
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Blockchain is here to disrupt digital marketing. Source: Shutterstock
The transparent nature of blockchain data could push the technology to be the most disruptive one yet to hit marketers in every industry
Unlike how AI and analytics have benefited businesses more than consumers, blockchain will level the playing field by allowing consumers control over their data
The marketing industry has been undergoing a series of changes over the last few decades. Many technologies have come and gone but experts are reckoning that in this day and age, blockchain could be the one to disrupt digital marketing the most. Though many professionals in the search marketing industry are still entirely unfamiliar with it, it’s almost imperative to catch up on how this technology is changing the industry to remain competitive.
Global digital ad spends alone is estimated to reach US$389 billion by this year. While worldwide digital ad spending achieved a modest 2.4% growth in 2020, it’s expected to bounce back with a growth of 17% in 2021, according to eMarketer. To cut through a saturated search engine and social media landscapes, digital marketers have begun prioritizing personalized, omnichannel experiences to engage with their audiences.
However, it can be difficult to execute these campaigns, especially with mounting concerns about third-party data privacy. This is when blockchain could be adapted and in fact, more advertising professionals have been mastering this technology as it takes over. At its core, blockchain with its decentralized database enables transactions between two parties without the need for third-party verification. Most of the uses for blockchain have been around finance and crypto-currencies, but the underlying technology could be huge for marketing.
More trustworthy ads with blockchain
Undeniably one of the most exciting things about blockchain is data privacy and since many companies from large to small have been pulling data from their customers, blockchain is changing digital marketing by removing that part of consumers. Take Brave browser for instance who is changing how users interact with online advertising.
Rather than simply being pelted with online ads, Brave users opt-into viewing ads and receive Basic Attention Tokens (BATs) for the ads with which they interact. It’s a completely new way of viewing advertising, by trading the value of online attention, rather than simply the trading of space for potential ad sales. Even brands like Unilever, Nestlé, and McDonald’s have been adopting the technology to improve transparency in their digital campaigns.
More transparency and authenticity
Blockchain’s public ledger allows transparency of every product at each stage of the supply chain. One of the problems large companies face is consumers’ trust. From right where their food comes from to the factory conditions where the product was made, consumers are skeptical about so many things. Blockchain places tremendous power in the hands of the customer – thereby improving their customer experience.
For an instance, Walmart teamed up with IBM on a project to make their supply chain process transparent. They used blockchain for the consumer to trace where their pork came from, starting from the retailers in China. In turn, it boosted the consumer’s confidence in Walmart.
Better digital ad expenditure
Blockchain provides a trusted, validated framework that indicates with precision the actual value of ad-spend for customer acquisition through online advertisement. It can cut out the scores of intermediaries that have popped up to offer measurement, verification, and source attribution services — while taking a cut, of course.
Blockchain can also help with issues like safety and fraud, documenting where the ads actually appeared. Hence why Unilever and IBM are creating tools to diminish or eliminate the confusion regarding online advertising spend. The scheme is estimated to save Unilever tens of millions of dollars.
Dashveen writes for Tech Wire Asia and TechHQ, providing research-based commentary on the exciting world of technology in business. Previously, she reported on the ground of Malaysia’s fast-paced political arena and stock market.
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While blockchain technology was invented in 2009, it has only gained momentum over the past few years. Therefore, blockchain technology is relatively new in terms of application, and fewer professionals are working on blockchain at full expertise. Organizations from various industries are looking to hire blockchain professionals, which indicates the limitless possibilities of a blockchain certification.
Even with all these encouraging signs, you might have lingering questions about whether a certificate will provide you with the job-ready skills to secure a position at a reputed organization and solve real-world problems or not. This blog will serve as your guide to blockchain and dispel any lingering doubts you may have about getting certified in this fast-growing sector.
How to Kick-Start Your Career in Blockchain
Let’s start with the basics. A blockchain is well-structured distributed ledger technology that stores information in a block and distributes it through a network chain. Opting for a decentralized approach means that it is managed by multiple participants, and no single individual has complete power over the transactions. With blockchain technology coming to light only recently, there aren’t any measures to determine the advantages and disadvantages of taking a blockchain course online other than the prospect of career benefits and salaries.
Suppose you are looking to kick-start your career in blockchain technology to become a blockchain professional. In that case, you must evaluate the value of blockchain certifications by looking through their course modules, industry-based case studies, and real-world implementation of your developed skills. If you’re an organization looking to provide blockchain certifications for your employees, you should ensure that it adds value to your business and is worth spending your time and money.
Why Are Organizations Leaning Towards Blockchain Technology?
Organizations have been expressing a high demand for hiring blockchain professionals to benefit their business. Below are a few reasons why organizations are opting to implement blockchain technology:
Decentralized approach: The decentralized nature of blockchain technology mitigates a middleman’s needs in processes such as payments. It transfers the power over control of transactions and decision-making from a single entity (individual or group) to a distributed network. This ensures a trusted environment and avoids reliance on specific entities.
Transparency: The transaction carried out in blockchain technology is available for all individuals to view, thus maintaining data integrity. The participants can access their transactions through block explorers and view the respective contents in the block.
Security: Each new record in blockchain technology is encrypted and linked to the previous record, creating a chain. The blockchain transactions are immutable and incorruptible, meaning other parties cannot modify or delete any records. The records are secured using cryptography, and each participant is provided with a personal private key to access their transactions.
Traceability: After every trade of records, an audit trail is present to keep track of the path. This improves security and prevents fraud among the transactions. It also helps verify the authenticity of transactions and makes sure they are not altered at any point.
A wide array of jobs: There are a lot of profiles available for blockchain professionals such as blockchain developers, blockchain web designers, blockchain architects, smart contract developers, cryptocurrency developers, etc.
What Is Blockchain Certification?
A certification for blockchain is concrete proof that showcases one’s understanding and skills of what is blockchain technology and helps employers to understand the individual’s reach in the field. Also, is essential to depict the market value of certification before pursuing it.
The best blockchain certification is the one that covers all fundamentals and advanced concepts of blockchain technology such as types of blockchain, cryptography, blockchain forking, cryptocurrencies, distributed ledgers, smart contracts, and more. It should enable you to build highly secure and decentralized applications using Ethereum, Hyperledger, and other technologies. The certification should provide industry-based case studies to help individuals understand real-world problems and find solutions to them. A blockchain certification should also offer hands-on training on various projects to enhance practical skills. Lastly, there should also be assessment measures for individuals to take and keep up with their progress in the certification course.
Why Is Blockchain Certification Worth It?
Apart from developing the knowledge and skills required to succeed in the blockchain technology world, there are other benefits of pursuing a blockchain certification, such as:
High demand: There are over 67,000 jobs available for blockchain professionals on LinkedIn alone, explaining the vast need in the market. Multinational companies from all sectors are looking for blockchain professionals. The average salary of blockchain developers in the US is between $150,000 to $175,000. This is one of the biggest reasons to pursue a blockchain certification.
Career options: After completing blockchain certification, there are various job profiles to choose from in the blockchain field. Some of the career options are Blockchain Developer, Blockchain Solution Architect, Blockchain Project Manager, Blockchain UX Designer, Blockchain Legal Consultant, and more.
Various sectors: Organizations from all sectors are adopting blockchain technology to take advantage of its benefits. Blockchain technology has multiple industry applications, and blockchain professional can choose their desired sector to work in, be it banking and finance, cybersecurity, healthcare, government, education, etc.
Practical knowledge: Blockchain certifications equip you with hands-on practice to solve problems and build smart contracts and cryptocurrencies, among others. This practical knowledge will ensure you are job-ready and solve industry-based problems when implementing blockchain technology for organizations.
Integration with IoT: Blockchain technology, when combined with the Internet of Things (IoT), makes machine-to-machine transactions secure and more effortless. With a blockchain certification, a professional can build such infrastructure and enterprises can expect high-caliber professionals.
A blockchain certification is likely to become the base building block of your blockchain career, and you can expect great job opportunities and salaries after completing it. EC-Council offers its own blockchain certification course, which provides an in-depth understanding of blockchain fundamentals and advanced applications with implementation strategies. The certification covers a wide range of topics, such as Blockchain Mining, Open Source Blockchain Frameworks, AI and Blockchain, Ethereum, IoT and Blockchain, etc.
CBP has a significant market value and will prove to be a boon for your career. If you are an organization looking to upskill your employees’ knowledge of blockchain technology, it will enable them to build applications and use the technology to enhance your business.
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Ubitquity LLC, an enterprise-grade blockchain-enabled platform for real estate and title recordkeeping, is teaming up with LavaTrust Consultancy in order to gain key insights into the US real estate closing sector.
Headquartered in Vancouver, BC, Canada, LavaTrust Consultancy aims to bring its industry expertise and valuable experience in the real estate markets (USA / Canada), as well as the global digital assets sector.
The founders at LavaTrust have reportedly been looking to streamline the real estate sector with the adoption of blockchain or distributed ledger technology (DLT). Now mainly focused on education and consultation, company CEO Joy Case is pleased to have some sort of alignment with Ubitquity, which is an established player in real estate applications for blockchain tech.
Having “vision” and “values” aligned with Ubitquity, LavaTrust aims to open up networks and key opportunities for both to participate in the restructuring of outdated technology and business processes with greater efficiency of DLT-based solutions.
Nathan Wosnack, Founder and CEO at Ubitquity, stated:
“Ubitquity and I are excited to be working with LavaTrust Consultancy. Ms. Case and her team bring a wealth of knowledge and years of experience in the real estate and digital marketplaces. Combining this with our blockchain applications will be mutually beneficial and make a long-term impact on the evolution of the real estate closing industry,”
Wosnack also mentioned that they benefit from leveraging LavaTrust Consultancy’s CEO Joy Case’s “trusted” network developed by taking advantage of 15 years of experience in the real estate sector (residential, commercial and development initiatives). He added that as LavaTrust has “strategic” relationships with Family Offices and various other investors, their potential for new collaborations has “expanded tremendously.”
Joy Case, CEO and Founder of LavaTrust Consultancy, remarked:
“I am excited and grateful to partner with Ubitquity to help galvanize blockchain adoption in the often antiquated processes within the real estate industry. Ubitquity has various blockchain-based products that can serve the industry with enhanced efficiency, increased security in the transaction process, less friction and increased agility in the closing lifecycle, parallel recordkeeping data storage, alternative revenue streams for its partners, future-proofed settlement solutions and so much more.”
Case also noted that with the emergence of more regulatory clarity in the US pertaining to stablecoins and banks now being permitted to custody crypto-assets, she sees Ubitquity offering an “autonomous” future-compatible settlement platform through its SmartEscrow offering to the future decentralized finance (DeFi) real estate industry.
She added that LavaTrust Consultancy is looking forward to working with Ubitquity so that they can keep innovating and offer “real value to the real estate closing industry together.”
Ubitquity has several Blockchain as a Service (BaaS) tools currently available on its “unanimity” platform, that it has integrated across key industries such as aviation and real estate for escrow and title closing support, title abstracting, digital, hybrid, and paper notary support, smart contract management, and secure document management.
Ubitquity can also help out with “regulatory-compliant” digital token sales, integration consulting, and various other services. The availability of each offering “depends on the regulatory body (SEC, FINMA) exemption chosen by its tokenization clients,” the company clarified.
In August 2020, Ubitquity had partnered with Washington-based Rainier Title, which aims to offer the “highest levels” of real property title and escrow services.
Through the partnership, Ubitquity will create a platform for issuing tokenized property titles and parallel records of conveyances for Rainier.
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In terms of volume and value, a credible market size is given by the global FinTech Blockchain market research report. Historical and recent market status with projected market size and developments are described in a simple manner in the report with a review of accurate data. In addition, the report offers primary variables like the geographical overview, the market segmentation, and the corporate profiles of suppliers of the industry operating in the market. It also provides data on the global growth prospects of the FinTech Blockchain Industry in the target market. Market growth factors, risks, opportunities, threats, distributors, distribution channels and much more are additional market knowledge available in the research study. This involves important criteria as far as the dynamics of the target market are concerned, as well as shifting driving forces influencing the vertical marketing graph of the industry and risks unique to the business. The analysis also helps to understand the dynamics of the worldwide sector, the structure of the business segment and the global market project.
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Market Segmentation: By Provider (Middleware Providers, Application and Solution Providers, and Infrastructure and Protocol Providers), By Application (Exchanges and Remittance, Smart Contract, Payments, Clearing, and Settlement, Compliance Management/KYC, Identity Management, and Others), By Organization Size (Small- and Medium-Sized Enterprises and Large Enterprises), and By Vertical (Banking, Non-Banking Financial Services, and Insurance).
Regional Analysis of Global FinTech Blockchain market
This study is divided into many primary economies from a regional perspective. The report also offers a number of regional dynamics over the forecast timeframe in these regions, such as sales, share market revenues and FinTech Blockchain growth rates. This report offers various major regions such as Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam), North America (United States, Canada and Mexico), Europe (Germany, UK, France, Italy, Russia and Turkey etc.), South America (Brazil etc.), and Middle East and Africa (GCC Countries and Egypt).
Competitive Landscape: Global FinTech Blockchain Market
Information and data from the industry’s leading players are generated by the global FinTech Blockchain market competitive landscape segment. The study includes a detailed overview and key statistics of the providers’ pricing structure, production capacity and global market share for the periods 2016-2028. A detailed summary followed by accurate regional and global output and revenue statistics by players for the period referred to is also reflected. Other data included are the business summary, the main company, the company’s overall sales and production capacity, the prices, the revenues generated on the world market, the date of entry into the world market, the product launch, recent growth, the introduction of new products, etc.
Conclusion The report provides a detailed analysis of the global market’s usage and penetration rate in several major areas and regions. This helps key players to understand the main developments, causes, vertical player strategies, recent acquisitions, and government measures towards the acceptance of the FinTech Blockchain product along with market-available data on commercial goods. In addition, the report provides descriptions of the key risks that will affect business growth. Furthermore, before capitalizing on or extending the company in the global industry to grow their business and recognize sales in the relevant verticals and to review, the report provides key stakeholders with detailed descriptions of key market opportunities.
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Cryptocurrency analyst. Founder and editor at btcpeers.com
It has been an impressive year for cryptocurrencies. From Bitcoin soaring to as high as $41.9k in early January 2021, to Ethereum rising above its Jan 2018 high, and Cardano reaching a new three-year high, investors are upbeat.
The impact of regulators is also being felt. Ripple (XRP) prices may be recovering. However, the United States Securities and Exchange Commission (SEC) alleges that the native currency of the XRPL, XRP, is a security. Ripple, a for-profit company, promises to fight back, explaining that it is a utility just like ETH and BTC.
Admittedly, cryptocurrency as a new asset class leverages an emerging technology, the blockchain. The sphere currently commands billions in market cap, and institutions are interested. Nonetheless, there is more to be done, especially on consensus refinement, decentralization, and efficiency.
Bohdan Prylepa is the Chief Operating Officer (COO) and co-founder of Prof-it Blockchain Ltd. In today’s interview, we’ll pick Bohdan’s mind and get his view on crypto, decentralization, and the impact of regulation on consensus algorithms. We’ll also touch on Ethereum, DeFi, and the future of blockchain.
A New Year, A New Age, Bitcoin at over $30k? What Do You Think is Driving this Rally?
Thank you for inviting me. That’s been a splendid year for cryptocurrencies and Bitcoin specifically. I must say that this rally is different. Institutions are getting involved, and I think this is massive not only for Bitcoin but for crypto. They will probably take it on a case-by-case basis, analysis projects for possible investment.
In my view, this crypto rally is because of central banks’ actions. Their incessant money printing is causing jitters in institutions and high net-worth investors. They are now seeking value-preserving havens of which Bitcoin emerges as a prime candidate with better qualities than gold.
Absolutely. There Is Capital Flowing From Gold To Crypto, Specifically Bitcoin; Will This Trend Continue?
With high certainty, yes.
Bitcoin is built on a transparent layer with known supply. The coin’s digital nature and censorship-resistant arms it with unique properties unlike gold. Accompanying the crypto rally which began in Q3 2020 was this stagnation of gold prices and a marked expansion of BTC’s. This hinted at capital injection, a sign of confidence, and a possible reassessment of BTC as a replacement of gold as a go-to store of value.
Bitcoin’s Progress Is, According To Observers, Impeded By Its Consensus Architecture, Does This Need To Change?
Yes, there are obvious scalability limitations in Bitcoin, routed directly to the Proof-of-Work consensus algorithm. With increasing concerns on environment preservation and conservation, alternate consensus algorithms must be designed.
I’m particularly interested in the one that places the end use at the center. There are several models present but the one that combines Leased Proof-of-Stake (LPoS) and Proof-of-Authority (PoA) dubbed UPoS appear robust without compromising security or impacting decentralization.
The Community is Curious, How Is UPoS Different from Proof-Of-Work (PoW)?
The problem with Proof-of-Work (PoW) is foundational. There is no way Bitcoin will process 2,000 transactions every second–or more unless there is change. It is not even mentioning how disastrous mining is for the environment.
Do you know that the network dispenses 664.65 kWh in electrical energy for every Bitcoin transaction to be confirmed? This is unsustainable. UPoS, on the other hand, veers clear from the electricity-consuming approach of PoW and handpick validators based on their commitment to ensuring that the network maintains a healthy state.
Why Now? Bitcoin Supporters Are Brushing Off These Concerns Arguing That Most Mining Firms Are Using Renewable Energy and Not Coal.
That may be true, but data shows otherwise. There are still mining farms in China that rely on coal for mining. Separate data shows that the Bitcoin network leaves a Carbon Footprint equivalent to that of New Zealand. Also, what happens when each miner consumes an unreasonable amount of power? Centralization.
And it is the antithesis of blockchain and Bitcoin. As mentioned earlier, we reckon that the end-users are demanding cheap and better services. They want to send money faster with full knowledge that the network is decentralized, has better throughput, and is, most importantly, cheaper.
These Are Obvious Limitation and Technical Challenges; A Reason Why Ethereum Is Shifting to A New Consensus Algorithm?
Absolutely, and it was a matter of when. Compare Ethereum with Bitcoin, for instance. Both are Proof-of-Work networks and are one of the most active. What you’ll immediately notice outside of centralization concerns are the unreasonably high transaction fees. Ethereum is the more active of the two, processing over one million transactions every day.
Its throughput may be a little bit higher, 15 TPS, but that’s not preventing Gas fees from rising through the roof to unsustainable levels. Ethereum is moving to a new consensus algorithm, Proof-of-Stake, for better decentralization and adoption, especially in DeFi.
Talking of DeFi, Is the WSB Reddit Pump of GameStop A Tip of An Iceberg?
It could be. Coincidentally, the WSB and AMC pump and the alleged involvement of the White House and the FBI in barring retailers from buying this stock called into question the layout of traditional finance. DeFi is the new foundation of finance reliant on smart contracts and a secure, transparent base layer.
The sphere is open and censorship-resistant. Investors can participate without accreditation. There is no way facilitating ramps can censor any investor from profiting when a token is rallying. The system is transparent and, from the on-set, tuned to be investor-facing.
Mike Novogratz, The Billionaire Investor Behind Galaxy Digital, Said DeFi Will Replace Global Banks And Centralized Bourses, What’s Your View On This?
The current pace of innovation is fast. Two years ago, few people were banking on decentralized exchanges and lending protocols to give a bank a run for their money. Yet in 2019 and the better part of 2020, everyone was talking about Uniswap, Maker, Aave, DyDx, and all these decentralized finance protocols that may be rudimentary but are laying the framework for the future.
A new foundation is being laid and while I expect resistance especially from governments who want to maintain control of money, the future is likely to be a hybrid system with bankers fulfilling their primary roles while DeFi acts as a support system, supplementing legacy networks.
What’s Ethereum Doing to Address Rising Gas Fees Hampering DeFi Adoption?
So far, developers have taken a two-prong approach. The activation of the Beacon Chain mainnet sets the ball rolling for Eth2 and Serenity. A full transition may happen in the next two years. However, the eventual rollout can be fast-tracked. Meanwhile, Vitalik Buterin and the Ethereum Foundation are focused on Layer-2 solutions like Optimistic Rollups.
These solutions rollup transactions off-chain with confirmation done on the mainnet, relieving the base layer. Several DeFi protocols like Synthetix have already launched the Optimistic Staking with Optimistic swapping set for activation in the coming months. Outside of Optimistic Rollup, there are Layer-2 solutions like state channels, sidechains, ZK-Rollups, and more.
Will Rising Gas Fees Affect ETH Prices?
I doubt not. Gas fees fluctuate depending on demand. The higher the demand, the more ETH prices rise. This is directly linked. Therefore, as long as users wish to pay more to participate in DeFi and other dApps, the higher ETH prices will be. But this is not to say Gas fees must remain at these excessive levels.
Layer-2 eliminates the need to pay high Gas fees by bundling transactions off-chain. Eventually, Layer-2 solutions will pick up, causing ETH prices to rip even higher since there will be more adoption of Ethereum and DeFi.
What are Your Thoughts on Cardano? ADA Prices Are Through the Roof.
Cardano is an exciting project whose valuation keeps rising as the team continues to build. I’ll be watching Cardano closely and see whether it shall attain the same decentralization levels as Ethereum as Charles Hoskinson, the co-founder, claims.
An interesting bit about Cardano, in the immediate term, is the impending activation of native assets by the end of February 2021. In the long-term, projects launching on Cardano and minting new assets will pay fees denominated in those assets, not ADA, Cardano’s native currency. It will be interesting how this will do to ERC-20 projects which pay Gas fees in ETH.
We’ve Seen The Likes Of Polkadot And Cosmos Rising Up The Market Cap Table, What’s Happening?
The future of blockchain is interconnection and these two projects are forward-looking, providing requisite rails for interoperability. Both are active, at different stages of development. Cosmos recently launched the Inter-Blockchain Communication (IBC) while Polkadot is working on its main Hub. These two stand out from the crowd and will provide the infrastructure necessary for inter-chain DeFi, gaming, and more. This is why these continue to attract partners and funding. I expect this trend to continue.
What’s Your Take on the Ripple and SEC Lawsuit?
It is not very easy, but another highlight of how crypto success is reliant on country-specific regulations. The SEC alleges XRP is a security and Ripple, Brad Garlinghouse, and Chris Larsen sold unregistered securities. Ripple lawyers are firing back, saying they didn’t hold an ICO. Owning XRP doesn’t imply obligations of Ripple to share revenue and profits with coin holders. They also rope in Ethereum and the Ethereum Foundation. I’m closely watching this even though the case may lag for months, if not years. However, the regulatory clarity that comes after that, even if it’s settled out of court, will be massive for Ripple—as a for-profit company, and XRP—the digital asset.
Do You Think The Wave Of Exchanges Halting The Trading Of XRP Warranted?
Exchanges that delisted XRP are centralized and unfortunately most decisions were knee-jerk. Therefore, depending on their relationship with regulators, they may take the safer route of suspending trading until there is regulatory clarity. The painful, inevitable result is low liquidity and partners recoiling. In my view, traders and the crypto community couldn’t do anything except watch as events unfold. It may be months before the case is concluded but luckily, there are exchanges that are adamant, listing XRP until when the case is determined.
Any Parting Shot and Bitcoin Prediction for 2021?
We are in a very early stage of a financial revolution. Cryptocurrencies offer superior solutions amid central bank money printing and inflation woes. Control is essential, and that’s the main value proposition of digital assets. Instead of mentioning numbers, I’ll instead predict that 2021 is a year where institutions position themselves in Bitcoin and crypto. Overly, this will help drive awareness and adoption, a net positive for the crypto ecosystem.
Latest update on Blockchain IoT Market Analysis report published with an extensive market research, Blockchain IoT market growth analysis and Projection by – 2025. this report is highly predictive as it holds the over all market analysis of topmost companies into the Blockchain IoT industry. With the classified Blockchain IoT market research based on various growing regions this report provide leading players portfolio along with sales, growth, market share and so on.
Global Blockchain IoT Market is valued approximately at USD 59.42 million in 2019 and is anticipated to grow with a healthy growth rate of more than 90.33% over the forecast period 2020-2026. The market growth is primarily driven by increasing adoption of internet of things along with the rising emphasis on enhancing operational efficiency. Additionally, growth in initiatives taken by government and surging utility of blockchain solutions for digital identity and smart contracts are further likely to propel the growth of the market. However, uncertain regulatory status and lack of awareness about blockchain technology are expected to hamper the market growth. One reason for such a rise in the industry is worldwide IoT networking for data sharing
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At the same time, service offering greater protection in data transfer often helps to increase the adoption of this technology. The growing acceptance of blockchain payment technology in the retail sector is expected to drive the blockchain IoT market over the forecast timespan. Blockchain technology is used by many retailers and manufacturers to streamline their processes and reduce extra overheads. Additionally, the implementation of both blockchain and IoT is helping retailers monitor products and avoid product manipulation. Blockchain provides security with improved levels of encryption that remove the challenges IoT faces. The growing demand for product monitoring solutions is thus also driving the IoT blockchain market. Major benefits of blockchain technology are less paperwork leading to less transportation delays, lower shipping costs, few manual errors and fast product recognition.
A brief outline of the Blockchain IoT market scope:
Global Blockchain IoT industry remuneration
Individualized and overall growth rate
Blockchain IoT Market trends
Sales channel evaluation
Marketing channel trends – Now and later
Market Competition Trend
Market Concentration Rate
Major Companies covered in Blockchain IoT market report are: IBM Corporation, Microsoft Corporation , Intel Corporation , Amazon.com, Inc. , Cisco Systems , Ethereum Foundation , The Linux Foundation , R3 , Filament , Ambrosus , Atonomi,
Questions that the Blockchain IoT market report answers with reference to the regional terrain of the business space:
The regional spectrum, as per the report, is segregated into North America, Europe, Asia-Pacific, South America & Middle East and Africa. Which among these zones is most likely to accrue the maximum market share by the end of the forecast duration?
How much is the sales estimates of each firm in question? Also, how strong do the revenue statistics stand pertaining to the current market scenario?
What exactly is the remuneration that each geography holds at present?
How much revenue will every region including North America, Europe, Asia-Pacific, South America & Middle East and Africa account for, by the end of the projected timeframe?
How much is the growth rate which each geography is estimated to depict over the estimated timeline?
Major Highlights from Table of contents are listed below for quick look up into Blockchain IoT Market report