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UK Blockchain Company Announces Artificial Intelligence Division

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While we have telecom and Information Technology (IT) groups announcing blockchain divisions, a blockchain company in the United Kingdom is introducing an Artificial Intelligence division.

United Kingdom-based blockchain company, The Bitfury Group, has launched its artificial intelligence division, news portal Reuters reported. The portal quoted the Chief Executive Officer (CEO) and co-founder of Bitfury, Valery Vavilov as saying the need to analyze and extract value from tons of available data drove the company to go into artificial intelligence, that branch of computer science that emphasizes the creation of intelligent machines that act and behave like humans.

He further said, “Data is becoming the next oil. We have collected so much data, but only 2% of all this data has been analyzed; 98% is sitting idle and waiting to be analyzed.”

The company, has rarely been in the news. Last year in March, the company announcedthat they were expanding into Norway and they received a warm welcome from the government. Bitfury partnered with the government of Norway to set up a mining centre in Mo i Rana. As a part of the partnership, Bitfury would invest over $35 Million for the mining centre and hire about 30 local employees.

At the time, Vavilov had said, “Norway is a perfect match for Bitfury’s focus on innovation and growth. We look forward to identifying new customer relationships and designing the products and solutions they need to make their enterprises run more securely and efficiently.”

The Norwegian government had also said, “I am delighted that the Bitfury Group has chosen to establish their new data center in Norway and Mo i Rana. Data will become an increasingly important resource for the business community as well as for society in general. This represents a major economic opportunity for Norwegian businesses. The datacenter industry is growing fast, and provides Norway with opportunities of economic growth and new jobs.”

Source.news.bitcoin

Blockchain

China Will Have a Public Blockchain Says Qtum Growth Head

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But if China does not allow that, someone else will enter the market

If anything took the center stage at BlockShow Asia 2019, it was China’s u-turn in blockchain space. In an interesting panel discussion, Qtum, Head of Growth, John Scianna emphasized that public blockchain will find its way to China.

 His analysis matters. Previously John was a Research Analyst at the “Chamber of Digital Commerce”. And that is a progressive American blockchain advocacy group. And currently, he plays an integral role in building and specializing Qtum’s international marketing strategy Talking about the developments from the Chinese front in the last two weeks, John stated that heavy investment is on the way. He added that giants like Alibaba and Tencent will primarily encourage permissioned blockchains. But undoubtedly, the Chinese blockchain market will have public blockchains also. According to John, if China does not let it happen, some “Smart western project” might enter the market. 

Libra was Bigger News than China!

 When asked about the biggest blockchain news of 2019, John’s answer turned out to be interesting. According to him Facebook joining the game with Libra was a notable development. He also believes that Libra enjoyed an undue advantage of Facebook’s marketing. As per John, blockchain marketing is changing now. And projects are following “gorilla marketing” now. The messages they are sending out to users are clear and different. 

Regulation or no-regulation

 In his opinion over-regulation is creating bad user experiences. And blockchain has now turned into a self-regulated market. He quoted Binance as an example of self-regulation. He said that in order to stay in business, they are sticking to the right side of the law. 

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Walmart Canada announces blockchain system to boost 400 stores across Canada

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  • The new blockchain solution will be used for; tracking deliveries, verifying transactions, and automating payments.
  • It aims to increase efficiency, reduce costs, and allow for easier budgeting and planning.

Walmart Canada has announced a new solution based on blockchain, they describe it as the world’s “first enterprise full production blockchain solution launched at a large scale mission-critical function”.

It is a network which will allow for information sharing and collaboration between 70 third-party trucking companies serving the company. The blockchain system has been a collaboration between Walmart Canada and DLT Labs. The new solution aims to increase efficiency, reduce costs, and allow for easier budgeting and planning for the company’s logistics arm.

As per the press release, the Walmart Canada blockchain is reportedly the largest such application of the technology ever to hit the logistics industry. It will be leveraged for; tracking deliveries, verifying transactions, and automating payments between the company and the 70 trucking companies it works with. It will serve Walmart’s 400 retail stores across Canada.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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Northern Trust set to further leverage blockchain for fractionalized bonds

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  • The custody bank, Northern Trust is testing blockchain for the issuance of fractionalized bonds. 
  • Northern Trust will be partnership with Singapore-based debt markets company BondEvalue.

Northern Trust, custody bank is looking to leverage blockchain for fractionalized bonds on the network.  The bank will be working with a Singapore-based debt markets company BondEvalue.

It is a move which demonstrates Northern Trust’s continued interest in the technology, following the development and then selling of its private equities blockchain, which shortens the time to market for new high-tech private equity funds. 

Justin Chapman, global head of market advocacy and innovation research at Northern Trust said:

We’re building capabilities we feel will be reusable across multiple asset classes and multiple jurisdictions,” said of the new bond pilot. “Our focus on this initiative is to help bring the exchange to life and then we offer the highest grade asset servicing capability in that digital environment.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

source:fxstreet

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