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IBM’s Head Of Blockchain Jesse Lund Leaves The Company

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IBM's head of blockchain

IBM’s head of blockchain Jesse Lund officially left the company after he previously predicted that the price for the number one asset could hit $1 million during our lifetime. In the latest cryptocurrency news below we read more about the reasons, he left the company.

Lund previously gave predictions about the price of the asset citing the growth and scarcity of interest in the space. He also noted previously that he is very optimistic about blockchain as a payments platform. Lund helped to create the IBM World Wire platform with the help of Stellar which made many in in-roads with some of the major banks across the world. He stated:

 “Yes, I’ve left IBM but am still optimistic about payments innovation using Blockchain.”

IBM is one of the companies that are working on cross-border payment solutions for financial institutions including banks. IBM’s head of blockchain has been a part of R3 which is a consortium of banks including Wells Fargo where he previously worked.  However, nor Lund nor IBM gave an explanation about the decision to leave the company.

A few weeks ago, Lund commented on an article about JPMorgan Chase and the partnership with Microsoft saying:

 “Great to see more major players piling on this use case as we approach the tipping point of transforming global financial services. What’s next is an extended solution to bring open fungibility of liquidity and FX across major banking institutions… I wonder if any other big players are working toward that(?!)!”

His position at IBM is the last you can read on his LinkedIn profile indicating that he hasn’t started a new job to another blockchain company.

As reported in the altcoin news previously, another IBM executive, the chief of blockchain division Jerry Cuomo is the only one of the blockchain department still in the company. Cuomo invented the ‘’someone is typing’’ technology which is used in the most of smartphone applications.

 “Jerry holds the prestigious title of IBM Fellow, which is the highest technical position at IBM, pioneering emerging technology projects in the areas of Blockchain, API Economy, Mobile computing, Cloud computing, Web Application Servers, Integration Software, Java, Instant Messaging Software, filling over 65 US patents across these areas.’’

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The German Government Establishes A Sound Blockchain Strategy

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The latest cryptocurrency news let us focus on blockchain's adoption in Europe. As we can see, the German government has officially set a roadmap of priorities for the technology, announcing it at a recent event. On September 18, the Federal Ministry of Finance and Federal Ministry of Economics and Energy in Germany published a paper named "Blockchain Strategie" (meaning blockchain strategy) which outlines how Germany as a leading economy in Europe and most influential state - will embrace and work within the blockchain ecosystem led by Angela Merkel's administration. The German government and ministries said that they would strive to make the country a hub for blockchain development activities. They said:
“The young and innovative blockchain ecosystem in Germany should be preserved and continue to grow. Germany should be an attractive location for the development of blockchain applications and investments in their scaling. At the same time, large companies, small and medium-sized enterprises and startups, as well as the public sector, countries, civil society organizations, and citizens should be enabled to make informed decisions about the use of technology.”
In order to achieve its newly outlined blockchain goals, the German government said that one effort that it wants to undertake is devising an “investment and growth-oriented regulatory framework” geared to the domestic crypto economy. This way, the markets could “work without state intervention and the principle of sustainability is guaranteed.” Furthermore, the ministries noted that they were going to take a multi-pronged approach towards becoming a blockchain hub. As many best cryptocurrency news sites noted, Germany is looking to promote entrepreneurs, encourage investments, guarantee stability, enable fair competition, support stakeholders and foster international cooperation in the attempt to bring blockchain to the masses. All of these goals were created through consultations with officials of the German government - and more than 150 crypto economy stakeholders over the past few months. The task at hand is now putting everything into action.
“At the European and international level, the Federal Government will work to ensure that stablecoins do not become an alternative to state currencies,” the strategy document read.
The grand question for now is whether other smaller European countries will follow Germany's (and France's) lead in taking a strict stance towards blockchain innovation.
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CJ Korea Develops A Blockchain-Based Music Copyright System

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One of the largest conglomerates in South Korea, CJ Korea, is developing a blockchain-based music copyright management system that uses the AWS' Amazon Managed Blockchain Service as local media outlets show. As the Korean news agency Yonhap said in a report on Thursday which made the altcoin news, the initiative is being led by CJ OliveNetworks which is a subsidiary of the CJ Corp parent company that operates the beauty retail and technology business of the conglomerate. Many best cryptocurrency news sites reported about CJ Korea too, saying that the digital copyright system is unique in many ways. The system will apparently keep a history of the broadcasting of copyrighted songs and store the information on the blockchain. The goal of CJ Korea is to allow the owners and users of the material to share the resulting ledger and arrive at an equitable payment scheme which will be set up for the use of the intellectual property management system.
“It is very important to have a system that guarantees fairness and transparency among copyright stakeholders,” said Kim Eung-do, the director of the DT Convergence Research Institute at CJ OliveNetworks in a report which was published in the business outlet Hankyung.
As he also noted, “the blockchain-based copyright management system will greatly contribute to improving the copyright management process.” Meanwhile, CJ Korea is South Korea's 14 largest conglomerate and has 31 trillion won ($25.9 billion) in assets as the latest Fair Trade Commission data report shows. The business lines include everything from food and beverage to logistics, beauty stores, IT, entertainment and a cinema chain. On the other hand, the latest cryptocurrency news show that CJ OliveNetworks operates OliveYoung, who is one of the country's K-beauty leaders. He has an IT division doing everything from Internet of Things (IoT) to cloud computing to Big Data. However, a decision was announced in April to split the two and transfer the IT division to CJ Korea Corp. Meanwhile, Amazon Web Services (AWS) became available in Korea in 2016.  2019 was the year when it started offering the Managed Blockchain to the public, following the introduction of the service back in 2018. So far, AT&T, Nestle and Accenture are among the respected clients of the service.
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Huge Mining Confidence Indicates A Strong Boost For Bitcoin

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Huge mining confidence shows that the bitcoin miners are not giving up and this could be a strong indicator for a boost in the price of bitcoin as per the coming altcoin news below. The last difficulty hike from September 13 made it 10.38% which is less likely for miners to discover a block. In the meantime, the mining pools have been compensated with even power. It is expected soon that another double-digit growth in difficulty will take place during the Bitcoin mining re-evaluation next week if the huge mining confidence keeps up the pace. The data shows that mining has grown exponentially. According to the analyst Hodlonaut, the race for more mining rigs is a sign of confidence. The miners are producing 1,800 new BTC each day which is a number that will be slashed in half in 2020. The halving of the reward could arrive earlier as the block times go down to less than 10 minutes. The growth in mining has led to an increase of 100 quintillion hashing operations which is a unique growth for any industry. Since the mining started with a computer CPUs and moved to multiple generations of specialized machines, it is hard to imagine what the future of Bitcoin mining will look like. Bitcoin is also the network with the highest daily transaction fees but Ethereum took over earlier this week due to the network overload and massive fee increase. The competition between the miners shows that there is a diverse selection of pools which discover the blocks of late. BTC.com still has a leading position but Poolin which a newly arrived pool, gained speed in the past months. The increase in mining shows to the launch of the estimated half a million mining rigs and Bitmain has pledged transparency on the Antminer shipments but it is still very difficult to estimate the number of new mining facilities. The reports show that Bitmain is building a significant fleet of miners in addition to supplying other pools as well. The miners point their machines to the Bitcoin Cash network where the mining has grown massively by 30 percent since the beginning of September to 2.68 EH/s which is about 40 times lower than that of Bitcoin. The hashrate for the other competitor Bitcoin SV remains unchanged. As per the latest cryptocurrency news, the bitcoin price dropped below $10,000 but mining is still viable.
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New Trojan Virus Launched That Steals Passwords From Crypto Wallets

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New Trojan virus was launched by cybercriminals over the past few days which are able to steal data from the crypto wallets. ThreatLabZ, a Zscaler team of security experts identified the malware as a RAT- Remote Access Trojan as we are about to find out more in the latest cryptocurrency news. The malware is using backdoor methods to gain unauthorized access to computers and other e-appliances and poses a huge threat. The Malwarebytes Labs cybersecurity company issued a report in 2019 about the State of Malware which underscored that two major malware categories included crypto miners and Trojans. The report predicted at that time that this year will be very interesting because of the new tricks and threats. Zscaler identified a new threat against the protection of privacy data which was written in the .NET programming language and it was later flagged as a new Trojan virus designed to perform a specific task such as stealing personal information. Among other things, InnfiRAT is written to look for cryptocurrency wallet information such as Litecoin and Bitcoin. InnfiRAT can grab the browser cookies to steal the stored usernames and passwords as well as the session data. The malware uses its screenshot functionality to gather information from the open windows while checking other applications running on the targeted system. According to the researches, the RAT transmits the stolen data to its command center and waits for further instructions. The instructions could direct the RAT to download some additional information from the targeted computer. The new Trojan virus poses a huge threat that involves a backdoor method but it is not new. For example, in 2018 the Director of Mac and Mobile at Malwarebytes, Thomas Reed, reported about the MAC cryptocurrency ‘’ticker app’’ because it is able to infect two open-source broad spectrum backdoors. The goal of the malware is not identified. Reed believes however that the malware was designed to steal digital coins from crypto wallets. The cybercriminals spread most of the computer viruses via email attachments. The ThreatLabZ security team reiterates best practices for email attachments as we found out earlier in the altcoin news.
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