blockchain news

6 Industries That are Adopting Blockchain Technology

Whether or not you understand why Bitcoin should be as highly valued as it is, it’s important that you know how blockchain technology can influence your business and the rest of the world. Blockchains are virtual ledgers of records. The…

Blockchain Cyber-Defense Startup Sues Investor After Partnership Talks Sour

Last year, after founding a startup that uses blockchain technology to protect against cyberattacks, three University of Maryland students behind Gladius Network LLC went looking for investors.Through their lawyer at the firm Paul Hastings, they met the head of an Israeli marketing firm, who would connect them to Krypton Blockchain Holdings, the Ukrainian company focusing on investments in startups that use blockchain technology. At Gladius, the three founders were optimistic about a possible partnership, and the feeling appeared to be shared, according to court papers. The company’s technology promised to deflect so-called denial-of-service attacks, redirecting malicious web traffic across a decentralized network of computers.Less than a year later, negotiations have fallen through and the two sides have found themselves engulfed in a contract dispute playing out in Washington’s federal district court. Gladius, represented by Winston & Strawn, on Monday sued Krypton.

Bitcoin billionaire Brock Pierce wants to transform Puerto Rico into a crypto paradise

At 37, Brock Pierce is a billionaire. And he has chosen storm-ravaged Puerto Rico as his new home.”Puerto Rico has the possibility now to be put on the map as a hub of innovation,” he told Foreign Correspondent. “And the pleasure of bringing essentially the most innovative industry the world has ever seen to a place that normally wouldn’t have been a hub, that’s a wonderful thing if it works.”Mr Pierce was a child actor in the 1990s, starring in Disney films such as The Mighty Ducks.He went on to invest in video games before making a fortune in cryptocurrencies such as bitcoin, which jumped from below $US1,000 ($1,346) to nearly $26,932 in 2017, before crashing to a low of $8,887 in April.But Mr Pierce said the technology that made cryptocurrencies possible would change the world.”Has the internet changed our lives? Have mobile phones changed our lives? The blockchain is something that is that transformative,” he said.”But you don’t need to understand it in the same way that you know how your phone works.”

The World of Blockchain-Enabled Travel Accommodations –

Shutterstock photoBy Michael ScottFor many people worldwide, opportunities for travel have become their raison d’être. But these nomadic explorations often entail booking a hotel stay or other form of lodging accommodation, which can easily put a damper on the carefree sense of adventure that travelers are seeking.In recent years, Airbnb has become a popular online destination for those seeking vacation rentals, apartment housing, homestays, hostel beds or hotel rooms. Recently, a new startup known as CryptoCribs has entered this competitive space, providing travelers with a direct marketplace where they can pay for their stays in cryptocurrency.Take a quick glance at the CryptoCribs website and you’ll see that it yields a similar look to that of Airbnb. The homepage is emblazoned with pictures and descriptions of rental option listings throughout the world. Yet the philosophy of the two companies couldn’t be more different. The biggest distinguishing factor? CryptoCribs makes use of blockchain technology to run a decentralized data network. This means that landlords and tenants on the ecosystem have ownership of the database, as well as a voice as to how the platform is managed.

Maltese Parliament Passes Laws That Set Regulatory Framework For Blockchain, Cryptocurrency And DLT

Maltese Parliament has officially passed 3 bills into law, establishing the first regulatory framework for blockchain, cryptocurrency and DLT (Distributed Ledger Technology). This makes Malta the first country in the world to provide an official set of regulations for operators in the blockchain, cryptocurrency and DLT space.“I think that blockchain technology, DLT and cryptocurrency is where innovation is happening right now and we are very glad that Malta can offer the first jurisdiction in the world to regulate this sector. We are excited about what this will lead to in the future,” Joseph Muscat, Malta’s Prime Minister, told me.Just last week, the Maltese Parliament voted unanimously to approve 3 cryptocurrency and blockchain bills, which were designed to make Malta one of the most desirable locations to set up shop in the blockchain space. As these bills have now been passed into laws, Malta is sure to become an early pioneer in economic innovation. In turn, this will strengthen the country’s economy with the creation of a new economic niche.

Blockchain is likely to advance the internet of things—and robot rights.

On March 6, 2016, a small drone belonging to the open-source software company Drone Employee lifted into the Russian sky, traveling across an open field of white snow. Drone flight is relatively unremarkable today, but this particular drone wasn’t controlled by anyone. Brought to life by a predetermined agreement, or “smart contract,” running on the Ethereum blockchain, the drone’s engines powered on and it lifted itself into the air, taking a flight path dictated—only and exclusively—by code. The smart contract controlled the drone’s trajectory, without the need for a middleman with a remote to manage the device. Once started, the code governing the drone could not be stopped. If the smart contract had directed the drone to fly into a building or to head straight for a person, there would be no way for anyone to change its direction or stop the flight without physically disabling the drone or modifying the blockchain.

How blockchain will transform the e-commerce industry over the next few years

Blockchain technology should be considered the most disruptive technology invention of the fourth industrial revolution. The world has never seen a technology as powerful as blockchain technology and it could potentially impact all sectors of the economy complete will transforming it through top notch efficiency.Recently, blockchain technology has been employed in different sectors of the industry ranging from the financial services sector, to the energy sector, from logistics to supply chain management, from the health sector to the gaming industry, and is even being used in online gambling.However, the sector it is aiming to transform, and hopes to have the highest impact on day to day consumer and seller activities, is the e-commerce industry. The e-commerce industry has arguably changed the way we shop and live, which to many people has basically become one in the same.The convenience, affordability, and vast array of products offered by e-commerce platforms shows some of the benefits of the e-commerce industry, but with the growth of the industry (a global online retail market that is expected to surpass $4.5 billion by 2020), large e-commerce companies like Amazon, Alibaba, EBay and a large group of other companies which account for over 50% of that market valuation, the problems associated with e-commerce are beginning to emerge.

Mastercard’s Patents Use Blockchain To Secure Card Payments, Itinerary Bidding

Payments and technology company MasterCard Inc. has filed a patent to use a public blockchain system for payment card verification. It has also won a patent for a system of itinerary bidding based on a blockchain network.According to US Patent and Trademark Office or USPTO filing, the patent application – Method And System For Payment Card Verification Via Blockchain- is for a public blockchain-assisted conveyance and retrieval of payment processes to verify and secure users’ information.In the filing, MasterCard noted that the wireless transmission of payment credentials can be subject to intercept. The company noted that many consumers may feel unsafe to utilize more convenient methods of conveying payment details, instead opting for more secure methods that require additional time and actions to be performed by the consumer.