Newsletter: 4
In the news
This week has been dominated in the news by Facebook with the announcement of it’s own cryptocurrency, Libra and Calibra (digital wallet), where users can store and transact in Libra. It’s expected to launch in 2020. They have released a 29 page white paper and Libra is backed by a series of prominent companies including Lyft, Uber, PayPal, eBay with atleast $10M investment from each of these firms and other investors like Visa, MasterCard, Stripe, Coinbase, Booking, Spotify, Vodafone to gain access to the Libra node. Libra association hopes to have 100 founding members by the time Libra launches. More info.
Bitmain technologies, producer of crypto mining hardware chips, is possibly mulling over IPO in the second half of 2019 in the U.S instead of Hong Kong this time around. Though the amount hasn’t been finalized and everything is in it’s early stage, it could raise about $300M to $500M. More info.
MIT researchers developed a system called ‘Fiat Cryptography’ that automatically generates and simultaneously verifies cryptographic algorithms for all hardware platforms to secure online communication. It is to be noted that this entire process is used to be done by hand. More info.
France forms a G7 cryptocurrency taskforce in response to Facebook’s Libra to review how cryptocurrencies are regulated to avoid money laundering and other issues. Since the Facebook’s announcements other regulators in the US and UK have also spoken of potential regulatory issues around Libra. More info.
Ehereum 2.0’s phase zero is scheduled to launch on Jan 3, 2020, the day when the first block of the Bitcoin Blockchain was created 10 years ago. Phase zero is the name of the first transition stage of the Ethereum network from a proof-of-work to a proof-of-stake consensus algorithm, which would pass block validation function from miners to special network validators. More info.
MetLife subsidiary LumenLab is using a blockchain technology called ‘Lifechain’ to automate life insurance claims. More info.
A report from LinkedIn shows Blockchain as one of the top 10 most rising skills in Asia Pacific. “The Future of Skills” lists blockchain among the most sought after skills workers will need in the coming years specifically, setting up and managing a distributed and decentralized ledger. More info.
As part of expanding it’s activities in the blockchain sector, Accenture is teaming up with Canadian and Dutch governments and aviation players to use blockchain in identifying travelers. The deal called ‘Known Traveller Digital Identity’ aims to provide tailored experience using biometric data. More info.
Reading
Pariahs of Silicon Vallery: How Ben Mezrich Writes About the Winklevoss Twins. More info.
Disclaimer: My posts, articles and opinions expressed here are strictly my own and do not express the views or opinions of my employer or others.
