Blockchain Technology News and Updates

Aion is the first third generation multi-tier blockchain network focused on interoperability between other blockchains on a global scale. There are hundreds of blockchain networks today and it is only logical to premise that they will increase in number. The Aion coin is going to be used for data and value exchanges, by enabling a trust less, smart contract between blockchain systems.

The token was produced by a Canadian blockchain enterprise firm Nuco, which was initially working on a blockchain solution for Deloitte, and in a nutshell the token will transform blockchain into some sort of decentralized internet. That could replace current database solutions as well, such as those used in health, insurance, streaming media, savings products, supply chains, etc. Aion is born out of the Blockchain Interoperability Alliance, in which many other projects on interoperability are underway, such as Ripple, the Fusion platform and the Lightning Network.

Cross chain technology strives to bring together many independent blockchain systems onto a single decentralized, world-class supported platform, using a ‘token-bridge’. For example, if a business is run on a specific blockchain network, clients from other blockchain networks can also transact with that business.

Aion has also partnered with Moog Inc, to build a blockchain solution that will propel the aerospace and defense company into the fast evolving crypto world. The company also partnered with Amberdata, a data processing company specializing in blockchain intelligence, infrastructure, token utilization and transactions, and on-chain decentralized applications. In October 2018, Aion and ICON were both integrated into CryptoCurve Platform, which was the first to be launched through Wanchain’s WanLabs Initiative.

As regards performance, Aion current circulating supply is 291,866,662 out of an estimated supply of 465,934,587. The highest price peaked at $11.10 in January 2018. At the end of the token sale in November 2017, it had raised $20,000,000 worth of Ethereum and was an ERC-2- token on the blockchain. The Aion Bridge (launched in April 2018 and dubbed Kilimanjaro) allows the transfer of ERC-20 token on Ethereum to become native Aion coins. Aion is mined via a modified Equihash algorithm and has a bounty system that rewards community members who contribute technical support.

The token swap from ERC-20 to native lasted until November 30th 2018. It is accepted on several crypto exchange markets like BitForex, DragonEX, CoinBene, Binance, Bilaxy and BCEx, and trades over $4 million on a daily basis.

Aion founders stated that there are five types of users that can use the Aion blockchain:

  1. DApp developers – the lack of interoperability limits blockchain developers from making advised transitions across different platforms.
  2. Enterprises – crypto industries can now be easily connected seamlessly.
  3. Validators – people who monitor and validate blockchain ecosystems can now use a single platform to do the same.
  4. Bridge Builders who can scrutinize interchain transactions.
  5. Start-ups – cryptocurrency and blockchain is steadily being adopted worldwide and providing blockchain based solutions related to their niche will be more efficient via the Aion platform.

Aion’s future seems greatly achievable in terms of replacing the internet as we know it. Third generation blockchain evolution aimed at bridging participating networks is a crucial milestone that will hopefully be achieved by Aion and pave way for further implementation of projects in the background. If this works, cryptocurrencies that are open to adoption will gain value and stabilize.

 

 

 

IBM has filed a patent for a blockchain-based system which will prevent players of augmented reality games entering physical spaces that are undesirable.

They cite as examples “high-risk locations, culturally sensitive locations, locations marked by property owners.” Augmented reality is a technology which adds layers to physical reality. An example is Zombie GO, an AR game which places zombie in real life or perhaps the most famous example, Pokemon Go. AR can have other applications than games, however, such as displaying historical views of locations.

The aim of the technology IBM seeks to patent is to improve the political and actual use of AR in physical space, in an effort to prevent collisions of AR with locations that are not desirable by either party. An attack vector in location-based AR games is when “actors or users may maliciously profile a location for different purposes (e.g., misleading game players by falsifying the profile of a location where the ARC can be placed).”

IBM Uses Blockchain to Keep AR Players Out of Trouble

Blockchains will be used in the patented system to accurately document information about locations used in such games and systems.

Thus, it is important for the system to verify/validate any location related transaction. Accordingly, the method 300 includes tracking 310 or verifying recommended locations, labels, or tags using a location/label/tag blockchain-based system.

The blockchain system securely tracks, stores, and maintains location related transactions along with other location metadata. A blockchain is a distributed database that maintains a continuously-growing list of data records hardened against tampering and revision. It consists of data structure blocks–which hold exclusively data in initial blockchain implementations, and both data and programs in some of the more recent implementations–with each block holding batches of individual transactions and the results of any blockchain executables. Each block contains a timestamp and information (e.g., a hash of a previous block) that links it to a previous block.

The system will also include a neural network which will learn the results of interactions in various locations and record the data in the blockchain used.

Thus, risk prediction can occur based on rules learned by the cognitive neural network from past transactions in the blockchain, for example, a pattern of many user movements combined with discrete results such as incident reports, complaints against users, etc. By running the learned rules on more recent patterns of user movements, it is possible for the cognitive neural network to identify potential risks to users with varying degrees of confidence.

The patent process can be lengthy and it could be years before IBM releases a product based on the new patent. IBM has for years been involved in the blockchain space to varying degrees, targeting mostly enterprise clients, but its involvement in entertainment has been rare.

Blockchain technology is probably one of the most impactful discoveries in the recent history. After all, it has a massive potential to change how we handle online transactions. Despite some skeptics, the majority of experts agree that blockchain has the potential to disrupt the banking and financial industry, and many other ones!

But what is this technology exactly? We at CryptoCoinJunky will try to explain that in Layman’s terms, as well as provide you with insights into how different industries can benefit from blockchain.

To put it simply, blockchain enables decentralized transactions across a P2P network. There is no need for a middleman, resulting in almost instantaneous operations and most importantly, low fees. Plus, transactions carried out through a blockchain are much more secure, transparent, and private.

As mentioned earlier, different industries will have different benefits from implementing blockchain technology, and that is what this infographic is all about. For example, the banking sector will get faster transactions, lower costs, improved security, and better record keeping. Also, the blockchain technology can improve electronic voting systems. With this technology integrated into a voting system, governments won’t be able to tamper with votes because blockchain creates publicly viewable and singed transaction that can’t be changed or rewritten.

This infographic will help you understand how the blockchain technology can and will improve 16 different industries, from music to government. So, read on and find out what their future will look like.

Link to source: 16 Blockchain Disruptions (Infographic)

 

Visa is integrating open-source blockchain code from the Hyperledger Fabric ahead of the commercial launch of its own blockchain service for enterprise payments in Q1 2019.

Visa B2B Connect, the payment giant’s enterprise blockchain platform that enables cross-border payments between businesses, is partnering IBM to integrate the latter’s development of the open-source Hyperledger Fabric framework.

As reported nearly two years ago to the day, Visa first announced the blockchain platform co-developed with blockchain industry startup chain Inc.., as an alternative solution to global payments rail SWIFT for making large payments between businesses across borders.

The service tokenizes a participant’s information including account numbers and other sensitive data with a unique identifier to facilitate faster transactions susceptible to fewer fraud. Fundamentally, cross-border corporate transactions sent through B2B Connect are processed from the bank of origin directly to the receiver at the beneficiary bank.

Integrating Open-Source Blockchain Tech

Hosted by the Linux Foundation, the Hyperledger Fabric was first developed by IBM and New York-based industry startup Digital Asset as a blockchain framework and formally released its production-ready software, the Hyperledger Fabric 1.0, last year.

Including the Hyperledger Fabric’s functionality into Visa’s core assets’ will help improve and facilitate financial transactions on a scalable permissioned network to ensure “a frictionless cross-border payment experience with utmost security, trust and transparency,” Visa said in a press release on Monday.

IBM Blockchain Services general manager Jason Kelley added:

“IBM Blockchain Platform and Hyperledger technology are delivering real business value today and B2B Connect is one of the most powerful examples to date of how blockchain is transforming payments.”

Last month, Thailand’s largest bank by market capitalization, Kasikornbank, became the first financial institution in the country to pilot cross-border payments using Visa’s blockchain platform.

 

CCN

Ticketmaster, the major global ticket sales distribution company, has recently acquired the blockchain company “Upgraded”. They plan to utilize their DLT and “smart tickets” technology in order to combat the rising fraud issue within the industry as well as claims that they have been scalping their own tickets .

Ticketmaster merged with Live Nation back in 2010 to form Live Nation Entertainment, which is the music behemoth that you see today. The company currently leases, operates, and has equity interest in many of the entertainment venues sold throughout the US. Ticketmaster also promotes 30,000+ concerts as well as sells hundreds of millions of dollars’ worth of tickets annually.

Live Nation Entertainment generates over $10 billion in revenue so the potential for blockchain technology through “Upgraded” will more than validate their results. Live Nation Entertainment has become so dominant within their market sector that their main competitors AEG, accused them of unethical practices which eventually led to the Department of Justice investigating the matter earlier this year.

This acquisition has also come at a pivotal moment due to the fact that Live Nation was recently hit with a class-action lawsuit for allegedly operating their own ticket scalping scam. Only time will tell whether the blockchain company acquisition will help alleviate and reinvent this music giant as a company that prides itself on transparency.

The founder of Upgraded, Sandy Kaund, noted that the partnership between the 2 companies would bring “promise of blockchain to millions of music fans”.

Khaund, who founded Upgraded in 2016, hinted that many more applications for the technology would be released soon, as stated in this Forbes interview. The founder also highlighted that his company was not only useful for preventing fraud but also enabling the tickets to serve as a high-tech marketing tool.

He went on to state that the potential of our blockchain technology allows anyone to set price restrictions and hide their barcode until two hours before the event. The technology also has the ability to reveal the barcode within 1 km of the venue.

A group of 61 Japanese banks which are responsible for 80% of Japan’s banking, has just started using a consumer retail payments app which utilizes the Ripple blockchain technology named MoneyTap.

As confirmed in tweet on Ripples official twitter account, the company confirmed that the app went live on Thursday, which was 7 months after its initial announcement earlier this year. This app is a product of SBI Ripple Asia, which is a banking group that was launched in November 2016 with a focus on Ripples blockchain technology for domestic banking transfers.

MoneyTap, will enable real time, domestic money transfers between Banks using the xCurrent enterprise blockchain network hosted by Ripple.

Payments can be executed by scanning a simple QR code or the recipient’s phone number which can be made available on both iOS and Android platforms. The app also includes zero cost transfers between 3 specific banks – Suruga Bank, SBI Net Sumishin Bank and Resona Bank.

MoneyTap is designed to be a quick, small money transfer service between everyday residents which allows for a maximum transfer amount of 30,000 Yen (around $262) per transaction and a cap of 100,000 Yen ($875) per day.

The launch of this app is the first notable implementation of commercial blockchain technology on a consumer scale in Japan. A similar application, which is powered by Ripples xCurrent, is available to retail banks across Spain, UK, Brazil, and Poland. The blockchain system can settle international payments in a matter of 3 clicks which equivalates to around 40 seconds.

The video game console is dying, and AAA game publisher Ubisoft wants to help craft the standards that guide the development of one of the technologies that may one day replace it: blockchain.

Ubisoft Joins Blockchain Game Alliance

Toward that end, the French gaming giant has signed on as a founding member of the Blockchain Game Alliance, whose members will collaborate to develop industry standards and best practices for gaming applications that rely on distributed ledger technology (DLT). The news was first reported by U.K. video game magazine MCV.

From the group’s website:

“Convinced that this breakthrough technology brings numerous new benefits to the whole ecosystem, from developers to players, we provide an open forum for all stakeholders to share knowledge and collaborate on research that foster new ways to create and play games. Our ultimate goal is to help spread the integration of Blockchain by developing common standards and best practices.”

Other notable founding members include ConsenSys, the blockchain development studio founded by Ethereum co-creator Joseph Lubin, as well as Fig, the independent game publisher behind games such as Pillars of Eternity 2: Deadfire and Wasteland 3 who earlier this year acquired a blockchain development company. These firms are joined by fellow members B2Expand, Alto, EverdreamSoft, Gimli, Enjin, and Ultra.

Earlier this year Ubisoft’s Strategic Innovation Lab had begun to explore DLT development, and the firm has since sponsored several blockchain hackathons and conferences in addition to its new role in the Blockchain Game Alliance

Google, Ubisoft Partner for Cloud Streaming Trial

google

Notably, Ubisoft’s decision to take an active role in creating standards for blockchain gaming development comes amid the firm’s wider belief that cloud gaming represents the future of the industry.

In June, Ubisoft CEO Yves Guillemot said the video game console may only survive for one more generation before it is completely eclipsed by streaming services.

“I think we will see another generation, but there is a good chance that step-by-step we will see less and less hardware,” Guillemot said during an interview with Variety. “With time, I think streaming will become more accessible to many players and make it not necessary to have big hardware at home,” he continued, adding that “There will be one more console generation and then after that, we will be streaming, all of us.”

Earlier this week, Ubisoft teamed up with Google for “Project Stream,” a trial run of the tech giant’s ambitious plan to stream AAA games through the Google Chrome browser. During the trial, eligible participants will have the opportunity to stream Assassin’s Creed Odyssey, the latest game in Ubisoft’s flagship franchise, for free.

Google, incidentally, has begun to roll out the red carpet for blockchain developers as it seeks to avoid falling behind Amazon Web Services (AWS) and Microsoft Azure, both of whom have released blockchain products and templates that allow developers to deploy DLT applications without having to write the entire code from scratch.

In July, Google Cloud partnered with Digital Asset — the DLT startup founded by former JPMorgan executive Blythe Masters — to create a software development kit (SDK) for developers, providing them with a “full stack solution so they can unleash the potential for web-paced innovation in blockchain” without the need for specialized training in blockchain development.

 

Syndicated from CCN

TRON is aiming to bring blockchain and file sharing together with their latest venture, Project Atlas, which will blend blockchain technology with BitTorrent’s massive peer-to-peer infrastructure.

TRON acquired BitTorrent in July 2018, along with its 100 million active monthly users. BitTorrent is an established peer-to-peer network with a developed and tested infrastructure, but only time will tell how well the collaboration will work.

It’s an intriguing move, but what does it mean? Peer-to-peer file sharing has always been a popular way of exchanging information and media online, with around 27 million people using it to share or download files every day.

It’s clearly an important space and dates back to the early days of the internet. File sharing advocates are quick to call attention to its value in promoting democracy, openness, and the free exchange of ideas. Its detractors, of course, will point to the misuse of file sharing and torrenting platforms by pirates and criminals.

Still, many projects in the space are committed to making the internet a fairer and more decentralized place, where users can interact directly with one another instead of relying on centralized third parties. In this sense, it has something in common with the world of blockchain.

Project Atlas is an attempt to fuse the two spaces, with the aim of improving how file sharing works.

The aim is to improve the way BitTorrent works by introducing blockchain technology and tokens. BitTorrent already has reward systems in place to encourage users to share files for longer and be responsible members of the community, but TRON hopes to use tokens to further this.

The system will use tokens to reward users who seed files for longer and use faster nodes, as well as those who share more of their bandwidth and storage space. This way, they hope to increase download speeds and make the file sharing experience smoother and more pleasant.

It’s also backward compatible, which means the original BitTorrent software will continue to work while new changes are being made. The team has promised to keep BitTorrent products free, which should be a relief for the software’s user base.

The project could help encourage more responsible usage of torrenting and improve user experience. On the other hand, torrenting has found it hard to shake off its shady reputation, and turning this around could be a challenge.

 

Syndicated from CCN

AT&T has introduced a suite of blockchain solutions to allow enterprises in various industries to track and manage information more efficiently, the telecom giant announced on its website. The solutions include technology from Microsoft and IBM and can benefit users in industries ranging from manufacturing to retail and healthcare.

The company noted it is combining its “edge to edge” capabilities with distributed ledger technology (DLT). AT&T’s Internet of Things (IoT) solutions provide monitoring and automation capabilities to various business processes.

Manufacturing, Retail And Healthcare

For manufacturing companies, AT&T’s blockchain solutions can track the movement of goods through factories and monitor product quality from its creation to its delivery to the end user.

For retailers, the firm’s DLT services can ensure product authenticity by tracking its movement from order to delivery, as well as by reducing waste and unneeded stock.

For healthcare organizations, AT&T’s new products can support secure sharing of up-to-date patient records and directories.

Tapping IBM And Microsoft

AT&T’s consulting team can design and manage solutions utilizing both IBM’s DLT platform and Microsoft Azure.

IBM Blockchain supports a wide range of industry use cases such as logistics, supply chain, and provenance. AT&T Solutions will integrate its AT&T Asset Management Operations Center with IBM’s Maximo Network on Blockchain and its Maximo Health Insights, providing reliable networks to manage infrastructure assets.

Microsoft Azure, built on an open, trusted cloud platform, supports a range of ledger protocols such as Corda, Chain, Quorum, HyperLedger Fabric and Ethereum. The platform also provides topologies for multi-member and single-member consortiums, as well as for testing and development.

“Blockchain is far more than just bitcoin or cryptocurrency. It’s transforming the way many companies conduct business,” Andy Daudelin, vice president of AT&T Business’s Alliances Business Development, said in the announcement. “Blockchain improves security and enables better management of transactions through complex processes. Utilizing our global network and IoT capabilities, AT&T enhances blockchain by providing edge-to-edge solutions that automate the tracking and that can even monitor the environmental conditions throughout the process.”

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