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We share content, information, messages and routine life on the internet. Money should also work in the same way as for transfer of information. Secure, worldwide, free, open without any central authority and most importantly, transfer of money with fun. In that case, we have an option chinese circle on vision, that we should be able to exchange values.

The main vision is to connect the world’s largest currency zones. That is why a foundation for this purpose has been established in US and UK. The foundation will transact Euro, Dollar, Pound, and other large currencies to blockchain technology.

Customers in the UK, US, and soon in Europe can soon perform these transactions. They will be able to do transactions in a secure and freeway through Circle’s social payment app.

With the rising of this technology, Circle is going to introduce this technology to its Chinese customers.

The Circle has launched a company in China manufacturing, raising $60 Million from Chinese investors. The company is keen on expanding into world’s second largest economy. Chinese firms including Baidu, CICC Alpha, Everbright Investment, IDG Capital Partners, and Beijing-based tech investment have reportedly made the latest funds.

Allaire says, “We’re not aiming to compete with the domestic market as that would be a suicide mission given the strength of local players like Alipay and WeChat, but we can connect Chinese consumers with the euro zone and dollar markets”.

Strategy in Financing:

IDG Capital Partner, the prolific Beijing-based VC led the $60Million strategic finance.

Along with IDG, Breyer Capital and General Catalyst Partners, we have brought on a powerful syndicate of major strategic partners in China, including Baidu, CICC ALPHA, China Everbright Limited, Wanxiang, and CreditEase.

These strategic partners make it sure that they will create an open, global, and free model of social payments. That will be enabled for the consumer in China, US, UK, and also in Europe.

Circle’s China Unit:

Circle’s China unit works as the local incorporate company. Allaire says,” Circle’s China unit has not launched any product. Whereas, there are already many pending deals with banking partner and legal license to operate.”

In payment process, Circle allows payments to countries in which this technology has not launched yet. Whereas, payments have transferred in Bitcoin within few minutes via blockchain network. Once the process of payment completes, the Bitcoin transfers to the currency. Circle’s aim is to connect China trading consumers with new global means of payments.

People’s Bank of China wants to launch its own digital currency. Basically, they want to decrease the cost of traditional paper money and boost policymakers. That is why they are in support of digital revolutions like Bitcoin.

Allaire finished with: “The company now adds the support for euro-denominated payments in Spain as the first step of a broader euro rollout.”

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IBM’s Affordable Blockchain ‘Starter Plan’

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The IBM Blockchain is a hot topic these days. No doubt, blockchain technology is an ingenious invention which allows digital information to be distributed without allowing to it to be copied or modified. Though it was invented by Satoshi Nakamoto in its initial form but uptill now it has evolved itself into a digital giant. That’s why every person somehow related to the internet technology has asked the question:

IBM blockchain

What is blockchain?

In short, blockchain is the backbone of a new kind of internet technology. In its original form, blockchain was being devised specifically for the cryptocurrency, Bitcoin. It is also known as the distributed ledger technology as it maintains a flawless record of digital transactions. Due to its credibility, blockchain has also been used by the tech community in various other ways. Furthermore, IBM Blockchain technology is a much more refined form of this digital platform.

As we all know, IBM is on the top of the list as it has been working with Blockchain technology since 2015. The credit of bringing blockchain to mainstream also goes to IBM. It was in 2016, when IBM started to use Blockchain technology in their own company.

And now IBM has presented the concept of an affordable Blockchain Starter Plan especially designed for small scale businesses.

IBM’s business blockchain network

At an initial stage a beta version of Blockchain Starter Plan will be launched in order to facilitate the use of Blockchain in all sorts of businesses. For that purpose, in 2016 IBM launched a test Blockchain program in partnership with Walmart.

This starter plan will be free for the duration of its beta version. After completion of the beta version duration a 30-day free trial will be offered once the plan becomes applicable in its full form.

How will all this work?

To be precise, business blockchain network uses the so called distributed ledger technology in order to make sure a secure transfer of business assets inside that network. The beauty of this process is that these assets can be both in physical or digital form. Members of this network would use a concord mechanism instead of depending upon a bank or other such institute for the validation of their transactions. It will automatically not only improve the processing speed of transactions but will also become the first step towards transparency across the business network.

According to Marie Wieck, the general manager of IBM Blockchain, the company currently has over 250 active blockchain networks. She further stated that this new plan will suit pilot projects and will be perfect for those who want to build solutions on the IBM blockchain platform.

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China Becomes the Country with Most Filed Blockchain Patents In 2017

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According to a Financial Times report, China became the country with the most patent filings for Blockchain technology to the WIPO (World Intellectual Property Organization) in 2017. Thomson Reuters collected data from the international patent organization which shows that in 2017, overall 406 patents were filled, from which more than 225 were from China.

At this time, Tech companies from all around the world are rushing to patent their innovative systems developed by using blockchain tech, which is just like a game changer supply chain management.

blockchain patent

Last year, patent applications for Blockchain technology got tripled. An editor at Thomson Reuters’ Practical Law, Alex Batteson said:

“Companies are moving fast in order to protect their ideas in new areas of technological development — long before the technology actually goes to market.”

From 2012 to 2017, Chinese companies held the sixth spot out of the top nine filers for Blockchain patents. Even though all patents didn’t lead to feasible products, but the data remained substantial in that as it shows activity in a particular area of industry and could produce blocks to the entry.

Filed Patents from 2016-2017

China filed 225 patents in 2017 and 59 patents in 2016, while the US filed 91 patents in 2017 and 21 in 2016. Australia in on the third number with 19 and 13 blockchain-related patents in 2016 and 2017, individually.

A patent is an essential tool for any company in order to attract investment. If we talk about the US, then MasterCard, which is a payment processing giant had filed 25 patents for blockchain at the same time. Also, Lichtenstein’s nChain Holdings, which is considered as the worldwide leader in development and research of blockchain technologies by itself has filed 18 applications.

But one thing, that should always be remembered is that not all companies patent their innovations. Also, all patents don’t result in the formation of a workable product/use case. However, according to Thomson Reuters, the patent information imitates activity in a certain sphere and produce entry barriers.

Is Chinese government taking interest in the Blockchain Technology?

The Chinese government is officially taking an interest in the development of Blockchain technology in the country. As there’ve been many reports, the Investment Association of China has approved the development of a Blockchain Development Center.

As well as,  list of objectives was published by the Chinese Ministry of Industry and Information Technology on 23rd March, to boost the development and regularization of Blockchain technology.

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Bitcoin voting machine

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Bitcoin voting machine

Each system of payments or transaction needs security. As, we have so many issues like accounts hacking, snatching, robberies etc. Unfortunately, no one has the ability to control it. Everyone needs the transparent and proper way of transactions. And, security expert’s recent study shows that voting machines are also vulnerable to hacking.

Consequently, don’t worry about the weaknesses. A company trying to replace recent proprietary machines with new secure and open-source voting machine. Whereas, the technology behind the voting machine will be blockchain.

The blockchain is a distributed ledger. Instead of the company have the central database, everyone has a charge to set up a new code on the network and have the copy of it. For example. a bank with the database of withdrawals and deposits. And, as a customer, you have to believe that bank has tracked your cash correctly. In addition, now imagine that a number of customers do the same job with your funds to maintain honesty of ledger. This is what bitcoin currency works with complete security of funds.

Now, this technology has the ability to maintain a voting system. Advocate-tested blockchain based election by Liberal Alliance in Denmark and in European pirate party. Now, blockchain technology is going to introduce a secure and an actual voting machine. Who keep the record of the votes by using blockchain technology.

How it works

Now, the question is how this technology will do. Voters will register themselves as they do before. On the day of elections, people have to come and fill out a ballot with three QR codes at its bottom. Codes are;

  • a unique cryptographic number which is basically a blockchain address.
  • ballet ID
  • last one for the election ID

The ‘vote unit’ will be sent to the candidates on the scanning of the votes. candidates will receive a unique address, is also called a wallet. which is how the machine knowing where to send votes.

Where you can see the candidate’s address. Accordingly, you can have the complete check that how many votes each candidate has, using the blockchain explorer that pull up the information about each ledger.

A team of blockchain technologies shows a machine look like fax machine connected to screen. While the machine disconnects from the internet to keep nasty factors from operating the votes before it connects to the internet they coming in and burn the ballots to the DVD.

Here, the point arises is, how to configure the blockchain. There are more possibilities to use the same blockchain bitcoin. Whereas, blockchain technologies crop. Introduce new VoteUnit, who works in the same way. In addition, with one change that is no transaction fees for each transfer.

Security o the machines

Senior computer scientist Jeremy Epstein explains,” Blockchainoter will never be able to know”. Young admitted it but his team uses several safeguards.

In addition, young says, “The open source code combined with the paper, DVD, and blockchain audit trails may not completely eliminate fraud in the voting process, but it will be a step in the right direction. Especially compared to the 10-15-year-old, buggy electronic voting machines we use today”.

Reliability  

Steve Borelli software developer pointed that current voting machines manufacture by banking and security company Diebold has a large number of issues. Without any external inspection. Borelli explains Anyone who knows Python can look at every nook and cranny of the code.”

The broken parts of the machine can easily replace because parts are easily available. Whereas, when machines have been discontinued some parts are difficult to replace. Developers add the term Paper trail to the machines. Hacking may go hidden if there will not be the paper trail for voters. In addition, because of paper trail voters can be up to date with elections process and its difficulties. If DVD’s data and blockchains will not match then the paper ballots can be used for verification.

Borelli explains, “if you enter a vote into an electronic touch screen first, and then it spits out a result, then it’s vulnerable to manipulation before it reaches the physical paper form.’’

Blockchain technologies crop. believes that this machine would provide secure and transparent way of voting. Borelli says we are going to embarrass Diebold.

Good luck!

 

 

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Top 5 Intriguing Bitcoin Conspiracy Theories

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We’re surrounded by all sorts of mysteries that are yet to be solved but, the biggest one yet is how the cryptocurrency king, Bitcoin, was created and why. Keeping that in mind, there have been various bitcoin conspiracy theories on the internet. Here are some of the ones that seem more legitimate than others.

  1. JPMorgan Was The Reason Behind The MT. Gox Collapse

It’s a fact that organizations such as JPMorgan don’t see much profit in bitcoin but, they’re all in for the technology that lies behind it. Mt. Gox drove bitcoin’s value to higher limits, while JP Morgan composed a price crash by selling over 8000 coins to drive the price back down.

Parallelly, JPMorgan was funding anti-bitcoin articles teamed up with mainstream media firms. To tell you the truth, all these concepts, do sound quite reasonable, however, it seems unreal to think that such an institution would intentionally crash the bitcoin price.

  1. Satoshi to Bitcoin Said To Be An AI

Has it ever occurred to you that Satoshi Nakamoto could be an artificial intelligence? Well, considering that the world has been on several hunts as to find out the persona behind the pseudonym that no one can actually think that it might be an AI created by a hidden government. While this theory does seem a little far off, it spurs up some really exciting discussions.

  1. China Invented Bitcoin:

Many seem to believe that the Chinese created Bitcoin as to wipe out their dependence on the US dollar. While it is a fact that China has been working with Russia and others to create a payment system, it is doubtful they would create bitcoin to substitute the US Dollar.

  1. Bitcoin Is A NSA Project:

This is a theory that has been quite popular on the web that how bitcoin was created as an experiment by the NSA. Claiming that Satoshi Nakamoto is actually a pseudonym behind the top-secret cryptocurrency project. Also, it is said that the NSA has access to the SHA-256 algorithm, which makes bitcoin a lot less secure than what it’s assumed to be.

  1. Major Governments Partake In Bitcoins “Arms” Race:

In 2013, a conspiracy theory had risen from the Bitcointalk forums. A user came up with the concept that major governments like US and China were buying bitcoins in bulk for themselves. Let’s not forget both these governments had first opposed the cryptocurrency when it emerged, which makes this theory quite believable.

Tags: Satoshi to Bitcoin converter

 

Story Credits: themerkle.com

Image Credits: google.com

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How to Confidently Take Part in Bitcoin Revolution?

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Confidently take part in bitcoin revolution

Bitcoin is the most renowned cryptocurrency today. From 2009 to 2017, just within a few years, Bitcoin has largely asserted itself as the richest people of the world are now showing great support for the currency. It clears that this century belongs to Bitcoin. Now, the question arises, how to take part in Bitcoin revolution. There are more than 100 different ways to join this blockchain revolution.  We will discuss only a few of them here. Before the discussion, let me tell you some important points, which you have to keep in mind during Bitcoin’s ride:

  1. Briefly, explain about Bitcoin to others.
  2. Create transactions by buying Bitcoin.
  3. Acquiring bitcoins.
  4. Do transactions through Bitcoin.
  5. Setup your Bitcoin wallet address.
  6. Tell about Bitcoin revolution confidently. In addition, completely guide them about how they can use secure and transparent transaction system.
  7. Tell them the difference between the currency and Bitcoin.

Now, let’s start a ride to Bitcoin revolution.

1. Acquire Bitcoin:

If you want to acquire bitcoin, there are three ways users by users.

Accept Bitcoin Payments:

Through merchant, solutions get start to accepting Bitcoin payments. There are more than 100,000 retailers who accept the bitcoin as a payment. These retailers hold high-profile business like Amazon, Tesla, Microsoft

Bitcoin Mining:

Bitcoin mining is same like gold mining. Gold mining is in hardware services whereas Bitcoin mining is done on the Bitcoin network. So what do you conclude; Tools for Bitcoin mining are gold pans or buckets?

No, Bitcoin tools include a powerful PC and specialized software. You can easily mine Bitcoin by solving the complex math puzzle. When miners successfully solve the puzzle, they get the reward of 25 bitcoins which becomes half every four years.

Purchasing Bitcoin:

Now, you have to purchase Bitcoin using cash from Bitcoin exchange and after that, your Bitcoin wallet.

2. Engaged in Bitcoin Services:

The venture capitalist Tim Draper says, “Bitcoin world is this new ecosystem where it doesn’t cost that much to start a new Bitcoin company. It doesn’t cost much to start owning Bitcoin either, and it is a much more efficient way of moving money around the world.”

The most desirable aspect of Bitcoin is to start your own business with low cost.

If you have no idea how to start and where to start with Bitcoin. Then observe the current performance of expertise of Bitcoin.

Bitcoin payment processors and digital or hardware wallet services are used for this purpose.

3. Provide Solutions for Acceptance:

If you can create a way to convince non-users to use Bitcoin, you are onto the winner.

4. Leverage Blockchain Technology:

For many financial institutions, the blockchain recording system holds promise as a secure, improved and transparent method to speed up transactions, cut costs, and eliminate fraud. Because of this, organizations are looking for ways to leverage blockchain technology for their own businesses.

5. Invest in Bitcoin:

Bitcoin is limited in number – 21 million to be precise. So, being an investor, you must know that increase in demand leads to the limited supply, hence the higher prices. If you are looking for a long-term solution for your financial problems, investing in Bitcoin is the best way.

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