HODL on and don't let go!
Super excited and proud of Jon for releasing his first set of #enamelpins, based all around his interest and love for #cryptocurrency. Check out the pin on #HodlFork by clicking the link on our profile. If you live in Markham/Richmond Hill/Toronto, DM us for a BIG discount.
➡️ If you're in the cryptogame, you'll know that HODL is a backronym based on a typo. It stands for Hold On for Dear Life - a phrase used by cryptoinvestors when they're hopeful their currency will be hugely profitable, even if it's not today!
New Project to Tackle #Crypto#EnergyCrisis by Generating Electricity Through Waste
As the #cryptocurrency market expands, so too does the volume of energy required to maintain it. If the #Bitcoin market alone continues to progress at its current rate, it will soon consume more energy annually than countries such as #Peru One potential solution to this issue is #renewableenergy and that is where #4NEW hopes to come into play.
Describing themselves as ‘world's first #ecofriendly tangible, waste to #energy#Blockchain solution,’ 4NEW’s premise is to take waste products and transform them into a usable energy source. This technology has been in adoption for over 70 years with approximately 83 independent waste to energy plants already in use within the US and many more in other countries. This energy can be sold to the national grid, or used to power 4NEW’s own mining farm. Their white paper explains that it will be cost-effective. "The cost to produce the energy is met through the revenue generated from the waste collection services and sale of byproducts facilitating a sustainable operation at breakeven or a marginal profit. Therefore, the energy produced is unencumbered and freely available for utilization or sale to the national grid." #cryptocurrency#cryptocurrencynews#altcoins#bitcoin
2014, most bitcoin companies quickly pivoted to the “next big thing”: blockchain. Among them were the financial and fintech houses that were eager to avoid SEC scrutiny of their cryptocurrency holdings but were happy to use blockchain technology to speed up transaction times. Many of those early efforts are now apparently bearing fruit.
MasterCard, for example, has just filed a patent for a “Method and System For Instantaneous Payment Using Recorded Guarantees.” This is, in short, a patent for a blockchain-like system that offers instant payment. It is not a clone, per se, but a patent that assumes that a blockchain-like ledger will be available to store and manage international transactions instantly.
The patent describes:
A method for processing a guaranteed electronic transaction, includes: storing account profile, each include an account number and balance; receiving a transaction message from an acquiring financial institution via a payment network, the message including a specific account number, transaction amount, and payment guarantee data; identifying a specific account profile that includes the specific account number; deducting the transaction amount from the account balance in the specific account profile; generating a record of payment guarantee that includes the transaction amount and data associated with the payment guarantee data; generating a return message including a response code indicating transaction approval and data associated with the generated record; transmitting the generated record to a computing system via a communication network; and transmitting the generated return message to the acquiring financial institution via the payment network. -
Video Game Giant Ubisoft Is Exploring Blockchain Use Cases 🚀🤓🎮🕹️🌐 French video game publisher Ubisoft is exploring potential applications of blockchain in its Strategic Innovation Lab, which studies emerging technologies and their use cases.
Lidwine Sauer, the Lab's director of trends and insights, told the gaming news site IGN that Ubisoft is particularly interested in the blockchain's ability to offer unique ownership over digital items.
The technology presents the opportunity to "finally have real digital collectables that cannot be replicated by anyone and can be 100 percent owned by you," she said.
As a result, Sauer explained, the blockchain also provides more protection over creative property: "Thanks to the blockchain, we can now have the equivalent of a digital Picasso, with the advantage that it's a lot more difficult to steal something on the blockchain than to steal a Picasso." One use case Ubisoft is particularly keen on is related to one-of-a-kind downloadable content (DLC), which is distributed by a game's publisher and typically includes add-ons such as aesthetic changes and new gameplay features.
However, Sauer said the Lab has ambitions for blockchain applications beyond DLC. "We want to go further than that," she said. "We feel there's something even more interesting to find [through the blockchain], and we're in the process of trying to find that interesting thing." Ubisoft is not the first gaming developer to explore applications of blockchain technology.
CryptoKitties, a game where users can buy, collect, "breed" and sell unique digital cats also puts to use blockchain's ability to facilitate unique digital content.
Likewise, the short-lived Crypto All Stars took a similar approach, allowing users to trade digital cards depicting major figures in technology like litecoin creator Charlie Lee and AngelList co-founder Naval Ravikant.
In an annual filing to the #Security and #Exchange Commission, #America’s second-largest #bank has expressed #fears over #cryptocurrency’s potential to undermine the control of the banks. It has long been speculated that #Bitcoin and other #cryptocurrencies pose a threat to major banks and traditional #financial institutions. Now, #BankofAmerica admits it could be #forced to deal with the “substantial” costs associated with the #emerging#market.
“The #widespread#adoption of new #technologies, including #internet#services, cryptocurrencies and #payment systems, could require substantial expenditures to modify or #adapt our existing #products and services,” America’s second-largest bank wrote in its annual filing with the Securities and Exchange Commission.
Additionally, the filing also notes that cryptocurrencies may present serious challenges in regards to #tracking the movement of #customer#funds, and thus may make it less easy to comply with #regulations.
With this view in mind, Bank of America has unsurprisingly joined the club of banks which prevent customers from using credit-cards to buy cryptocurrencies, claiming, “It’s just our view that customers should be careful here.” Of course, financial institutions could afford to be a little more careful themselves.
Last week, major credit card company #Visa caused an erroneous #error, which #duplicated#Coinbase customers’ purchase orders multiple times. The mistake — which Visa originally blamed on the popular cryptocurrency exchange — drained many customers’ accounts and caused many a headache.
Just trying to enjoy Miami as much as possible😎🌊
I hope you’re all having a great Friday!🙌🏻🙏🏻
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Is 2018 the year for IOTA to go to the moon? 😃💥 The news was made at a presentation by VW’s Chief Digital Officer (CDO) Johann Jungwirth on the future development of VW. Speaking at 19:00 CET, Jungwirth was hazy on details but highlighted that IOTA’s Tangle could be used to autonomously determine the pricing of its cars based on availability and demand, as well as to enable feeless and offline transactions. He also highlighted that the technology had the potential to shorten verification time and ensure greater security for funds and information. Although he made it clear that IOTA wasn’t going to be immediately adopted by VW, he did stress that it was under investigation. Jungwirth, who joined the IOTA’s supervisory board in late January, said VW was already shifting towards the development of self-drive cars. The announcement was made at the Bosch Connected World, an annual conference for the ‘Internet of Things’ (IOT) sphere. Based in Berlin, it attracts over 4,000 industry leaders and IOTA’s co-founder, Dominik Schiener, is expected to speak this afternoon. VW Group is one of the largest car manufacturers in the world and owns well-known car brands such as Audi, Skoda, Porsche and Lamborghini. The German engineering and electronic goods companies, Bosch said earlier this month it would invest in IOTA, having also joined the Foundation’s supervisory board. At the news, users on Reddit were quick to point out the irony of how blockchain could potentially be incorporated into Lamborghini. In late January, IOTA signed an agreement with the Taiwanese capital of Taipei to use the Tangle for smart city, data-sharing initiatives.
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