T.I, FLiK, and Amazon’s POW Patent
T.I invested in and helped lead the FLiK ICO, and similar to Money Mayweather and DJ Khaled, he’s being charged with selling unregistered securities. Unregistered securities are financial securities that have not been registered with the SEC-Securities Exchange Commission. The SEC continues to go after “easy-wins” in regards to suing ICO participants-key investors, promoters, founders, and etc who helped launched ICOs in 2017–2018. I expect T.I to get a fine and a 3–5-year probationary period limiting his ability to back similar ICOs in the future.
When big enterprise companies like Amazon, work with blockchain technology they aren’t thinking about how to launch a new token as a source of income, they are looking for ways to leverage blockchain to lower their existing operational costs. This is why you see companies like Wal-Mart, De Beers, and even JP Morgan using blockchain technology. In Amazon’s case, they are building their own blockchain to power all of their use cases for using crypto-currency or blockchain. I suspect they will use their own blockchain as an information base layer for moving information (or data) between current applications (or business units)-making it easier to satisfy customers’ needs. Aside from filing this patent, they offer AWS manage blockchain service as well.
I foresee Enterprise companies continuing to create their own private blockchains to manage transactions and keep the anonymity of their data. They will do all micro-transactions on their private chain and then settle them onto a public blockchain like Ethereum or EOS.
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