We all know that aside from the rise of cryptocurrencies, Bitcoin and altcoins, there is a rise in another form of technology, known as unmanned aerial vehicles (UAVs) or drones. In the latest news on our DC Forecasts crypto news site, we are seeing IBM with a new patent application that directly focuses on the increasing usage of drones in both commercial and recreational applications.
According to the documents which went public on Thursday by the US Patent and Trademark Office (USPTO), IBM first applied for the patent in March 2017 – with an aim to address privacy and security concerns associated with the increasing usage of drones.
The patent application outlines how a blockchain ledger could be used to store data associated with aerial vehicle (UAV) flights. As IBM noted, blockchain can help “particularly when a security risk is considered to be relatively high,” ensuring that the airspace controllers and regulators can supervise the increasing number of drones flying in the sky.
The authors of the patent explain in the official document:
“The chain can be considered a chronicle of a UAV’s path through time. When a transaction is conducted, the corresponding UAV parameters are sent to one or more of the computing nodes in the system for validation. The one or more computing nodes establish a validity of the transaction and generate a new block. Once the new block has been calculated, it can be appended to the stakeholder’s UAV blockchain. Among many other advantages, the use of a blockchain infrastructure helps in identifying misbehaving UAVs by multiple parties and such activities are recorded in an immutable ledger. “
As such, the permissioned blockchain by IBM could include different block times that change in response to the environmental triggers. For example, if a recreational drone flies too close to a restricted flight zone, it will trigger a risk flag and notify the network to provide airspace controllers with increased data on the UAV and its operator.
Russia Is Not Planning To Buy $10 Billion In Bitcoin
“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”Sidorenko reacted to the fake news reports from Telegraph where it was noted that Russia wants to invest $10 billion in bitcoin in order to mitigate the economic impact that is brought up from the US sanctions. The rumors emerged on Twitter where a particular user wrote that Kremlin has no choice but to invest in bitcoin and that it is the only way to avoid the harsh sanctions by President Trump. Ginko posted on Twitter and his post went viral after Telegraph wrote a story about it and lots of other websites just added their own touch to it. Ginko is known to the public for making such shocking tweets and comments after once saying that sham investment adviser Bernie Madoff is the real Satoshi Nakamoto. However, Sidorenko said that Ginko’s comments are absurd:
“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this. We do not have any mechanisms that would allow us to introduce a system: where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff.”However, according to Tota Kaliaskarova, the director of macroeconomic policy with the Eurasian Economic Union says that crypto could have a huge impact on the Eurasian economy.
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- Russia Is Not Planning To Buy $10 Billion In Bitcoin
- Huobi Re-Launched As Fully Licensed Platform In Japan
- $1 Billion In Transactions Reported For 2018 By BitPay
- Third Audit Attestation Of USDC Stablecoin Reserves Released By Circle
- 21-Year Old Accused Of Stealing More Than $24 Million Worth Of Crypto
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