Image of The Day, 13 of December: Bloomberg, ZDnet, VentureBeat and Others
We're presenting "the image of the day.” Bitnewstoday.com has chosen the most important news about the digital economy and virtual currencies. Only the most valuable stories from only the trusted sources. Each and every event from this list will change the world of the digital economy either way. The most important stories of this day in the most indicative quotes are below!
1. TOO EDGY FOR THE MAINSTREAM (Bloomberg)
The cryptocurrency price plunge isn’t only an economic story — it’s political, too.
Crypto marks the general public’s resistance to the ideological techno-utopia promised by Bitcoin evangelists. The decentralization they promise remains a niche, even elite, pursuit.
Techno-utopia is also messy. Code is better at enforcing rules than setting them. An arcane feud over whether to expand the size of transaction blocks in 2017 created an entirely new version of Bitcoin, called Bitcoin Cash. That in turn went through a second nasty split earlier this year. None of that is encouraging for anyone who needs a currency to reliably pay for groceries and rent.
2. ANDROID’S OPERA FOR ETHEREUM (ZDnet)
Opera hopes to make cryptocurrency more than just a speculative asset
Opera is betting on blockchain technology to reach new audiences keen on or curious about cryptocurrencies like bitcoin and Ethereum. The browser maker today announced that Opera for Android is a now a 'blockchain browser' with bolted-on access to the Ethereum blockchain that builds on its existing built-in cryptocurrency wallet.
Opera rolled out a private beta of the Opera for Android crypto-wallet in July, which can be used to store Ethereum and access Ethereum-based decentralized apps, or 'dApps'. The idea is to lay the groundwork for Web 3.0 where apps aren't installed on a phone but instead are powered by decentralized networks and use cryptocurrencies for transactions.
3. FIRST TIMERS (VentureBeat)
Kakao makes its first blockchain investment with Orbs deal
Asian mobile messaging firm Kakao has made an investment in its first blockchain startup in a deal with Israel’s Orbs. Tel Aviv-based Orbs is building a universal blockchain productivity layer.
The money comes from Kakao Investment, the venture arm of the leading South Korean internet conglomerate. The investment builds on Orbs’ existing partnership with Kakao blockchain subsidiary Ground X, where the two companies agreed to partner on blockchain applications and research and development projects. The investment will focus on helping Orbs further the protocol’s development and growth.
4. THE QUESTION OF TRANSPARENCY (Reuters)
First blockchain loan closes in Latin America amid transparency concerns
Brazil’s Itaú Unibanco completed Latin America’s first-ever club loan through a blockchain platform this month, and while the transaction paves the way for the region’s banks to test the ledger technology, doubts linger over its transparency. Itaú’s US $100m proof-of-concept loan, provided by Standard Chartered and Wells Fargo, utilized the R3 Corda Connect blockchain platform, a paperless system that allowed the banks to assess revisions, comments and approve the club loan digitally.
“Perhaps the main challenge is educating the business areas to use upcoming technology,” said Ricardo Nuno, managing director for treasury at Itaú Unibanco, adding that another challenge was supplanting tried-and-tested technology with blockchain-friendly software and hardware.
5. FBI’S FAVORITE (Techcrunch)
Feds like cryptocurrencies and blockchain tech and so should antitrust agencies
While statements and position papers from most central banks were generally skeptical of cryptocurrencies, the times may be changing. Earlier this year, the Federal Reserve of Saint Louis published a study that relates the positive effects of cryptocurrencies for privacy protection.
Even with the precipitous decline in value of Bitcoin, Ethereum and other currencies, the Federal Reserve author emphasized the new competitive offering these currencies created exactly because of the way they function, and accordingly, why they are here to stay.
And antitrust authorities should welcome cryptocurrencies and blockchain technologies for the same reason.
6. THE 6 WAY (Forbes)
6 ways blockchain is changing the face of investing
Time was, anyone who wanted to invest in the stock market used a broker. That broker provided investment advice and handled all trades. The reason, of course, was that brokers did the research and had access to information that the average individual investor did not have.
All of this changed as technology provided individuals access to the same information that the “big boys” have always had. Now, individual investors go through discount brokerages for specific trades. They still engage in institutional investing, though, through their 401K’s and through investments in large funds and such products as annuities.
7. DLT VS CANCER (London Evening Standard)
Blockchain cancer screening technology developed by tech entrepreneurs in London
Lancor Scientific, founded at the beginning of 2018, has created a 'Medici' token — a form of cryptocurrency — that can be used to access its blockchain platform. Through this platform, patients will be able to book, review and pay for their cancer screening tests. According to the company, its Tumour Trace device uses opto-magnetic imaging spectroscopy to identify tissue changes that occur when cancer develops.
Its detector is said to be able to detect signs of cancer with 90 percent accuracy within two minutes.Users of the screening service will access the portal through their smartphone, and register an account on the web portal. They can pay in various currencies, including cryptocurrencies. The user will then go for a screening at a clinic registered with the platform, verifying their identity through their smartphone.
8. BLOCK AND CHAIN (Business Wire)
Blockchain in Genomic Data Management: Global Market Landscape & Competitive Insights (2018-2030)
The "Blockchain in Genomic Data Management: Market Landscape and Competitive Insights, 2018-2030" report has been added to ResearchAndMarkets.com's offering. This report features an extensive study on the industry players that are offering blockchain platforms for the storage and management of genomic data.
The success of the Human Genome Project resulted in the generation of large volumes of genomic data, which is extensively used in biotechnology and medical research. Further, advancements in high throughput gene sequencing technologies have enabled scientists to expedite the genome sequencing process, and achieve significant cost benefits as well. In fact, it is estimated that, by 2025, around 15% of the world's population will have had their genomes sequenced, resulting in the generation of several zettabytes of data.
9. NOT LIKELY (Market Watch)
The likelihood of a Bitcoin bounce is diminishing, says analyst
After plunging through $6,000 on Nov. 14, Bitcoin has struggled for any meaningful bounce, falling four of the past five trading weeks, and according to one analyst, the longer it treads water the more susceptible it becomes to another move lower.
“Bitcoin continues to muddle along in the mid-$3k range. The longer we maintain these levels, the less likely it becomes that prices are oversold and poised for a pop,” wrote Jani Ziedins of CrackedMarket. “The public has largely written cryptocurrencies off as a fad and no new money is coming in. The lack of demand will continue to be a big liability.”
10. BABY FIRST dApp! (The Next Web)
ConsenSys teaches devs how to make their first dApp on the blockchain
This morning, developers from blockchain technology services firm ConsenSys and Kauri took to the Hard Fork Decentralized stage to show attendees how to create their first Ethereum-based dApp. Taking the role of educators was lead developer at Kauri, Joshua Cassidy and lead technical evangelist at ConsenSys Catalyst, Abel Tedros.
Kauri is one of ConsenSys’ supported blockchain startups. Through creating a “global knowledge ecosystem,” Kauri is trying to help fledgling Ethereum developers find their feet when coding smart contracts for the Ethereum blockchain. Essentially, Kauri uses the blockchain to help connect coders to blockchain dev resources that are useful when developing a smart contract.