Wednesday, November 30, 2016

Japanese MegaBanks Partner Bitcoin Exchange, Pilot 1,500 Tns/Sec Over a Blockchain

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Tuesday, November 29, 2016

Siemens Partners With LO3 Building Blockchain Microgrids

The largest engineering corporation in Europe Siemens AG has recently announced an energy collaboration with fintech startup LO3 Energy to create blockchain microgrids. The blockchain protocol aims to enable energy trades facilitated by a distributed ledger platform.

Also read: Bitcoin and Its Blockchain Are Driving the Solar Energy Boom

Siemens Pairs up With LO3 Energy to Facilitate Brooklyn Energy Solutions on Blockchain

Siemens and New York startup LO3 Energy have formed a partnership to develop a new type of microgrid energy-based system. The German-based Siemens has introduced its next47 unit to bolster energy solutions based on emerging technologies. LO3 will be supported by Siemens Digital Grid and next47 to create a blockchain-based microgrid service in Brooklyn, New York.

“The constant evolution at the grid edge requires advanced control, automation and data analytics technologies enabling secure, stable and reliable integration of decentralized energy systems as well as supporting the establishment of new business models. said Ralf Christian, CEO of Siemens’ Energy Management Division.

We’re convinced that our microgrid control and automation solutions, in combination with the blockchain technology of our partner LO3 Energy, will provide additional value for our customers whether on the utilities side or on the prosumer side.

With LO3’s ‘TransActive Grid’ Siemens Digital Grid Will Enable Peer-to-Peer Energy Consumption

lo3 The Brooklyn microgrid project started as a pilot for LO3 but has expanded with help from Siemens Digital Grid. The “TransActive Grid” platform LO3 says will be the first implementation of a Siemens microgrid tethered to peer-to-peer trading. The startup claims the technology will facilitate distributed ledger-based local energy trades between consumers in New York’s Gowanus neighborhoods, Boerum Hill, and Park Slope.

“With our microgrid solution in Brooklyn, we’ll demonstrate just the beginning of what blockchain can do in the transactive energy world,” explains Lawrence Orsini, founder of LO3 Energy.

Blockchain technology is meant to enhance the storing and validation of direct transactions of energy producers and customers. LO3 detailed that transactions will be immutable based on a distributed system without third party arbitration. “Thanks to a cryptographic process and distributed storage, the possibility of manipulation is virtually eliminated. In addition, authentication processes guarantee the confidentiality of user data,” LO3 Energy stated.

Blockchain-Based Microgrid Project Is in Line With New York State’s Energy Initiatives

The Brooklyn energy project will be in line with the New York State energy policy “Reforming the Energy Vision” (REV). Siemens and LO3 Energy said in the future, the blockchain-based microgrid and its “Smart City” projects aim to enhance other areas around the globe as well. By adding more efficiency to energy trading, LO3 claims the platform will manage stored energy solutions as well as customer flexibility choices.

LO3 Energy and Siemens solution will also “simplify the temporary standalone operation of heterogeneous microgrids,” says the startup. As a result, if a natural disaster occurred the platform can allocate for optimization within the grid framework.

LO3’s blockchain energy project has been in the works since April as two Brooklyn neighbors transacted between each other using the TransActive Grid. Consensys and Lo3 Energy enabled the New York residents to sell off excess solar energy in an immutable and efficient fashion. Projects like these could enhance the way energy consumption is dealt with today. Siemens and LO3 believe blockchain innovations can transform this market for the better.

What do you think about LO3 Energy and Siemens teaming up to create blockchain-based energy solutions? Let us know in the comments below.

Images courtesy of Shutterstock, LO3 Energy and Siemens websites.

Do you want to talk about bitcoin in a comfortable (and censorship-free) environment? Check out the Bitcoin.com Forums — all the big players in Bitcoin have posted there, and we welcome all opinions.

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Smart Contract Symposium to Convene in Times Square as “Completely New U.S. Government” Looms

The inaugural Smart Contract Symposium convenes December 5 in Times Square, not far ahead of the seating of the 45th President of the United States and thousands of new appointees, most of whom are untutored in blockchain technology, digital currencies and related innovations.

The Symposium, presented by the Smart Contract Alliance of the Chamber of Digital Commerce, is continuing to take advance registrations for the event, hosted at Microsoft’s Technology Center in the heart of New York City.

Uncertainty regarding what the next administration brings to the industry adds to the timeliness of next week's unprecedented gathering, which is expected to draw 250 attendees, said Perianne Boring, the Chamber's Founder and President.

Building a shared understanding among the industry and policy communities about the potential benefits and current realities of smart contracts is crucial, no matter who’s in charge, she said in an interview withBitcoin Magazine.

Boring explained that while advance registration remains open, the event is likely to sell out soon. Organizers of the boutique-scale event in the relatively compact Microsoft facility have placed a premium on ensuring ample opportunities to explore and discuss use cases for smart contract adoption, and to exchange ideas among attendees from financial institutions, legal and regulatory experts, blockchain technologists and innovators.

The symposium agenda suggests there'll be plenty of actionable information

Keynoting the event is Nick Szabo, smart contracts pioneer and Founder and CEO, Global Financial Assets Inc.

Legal and regulatory considerations will be addressed by Sean Murphy, Norton Rose Fulbright (moderator); Dax Hansen, Partner, Perkins Coie; Kavita Jain, Director of Emerging Regulatory Issues, Financial Industry Regulatory Authority (FINRA); and Sayee Srinivasan, Chief Economist, U.S. Commodities Futures Trading Commission (CFTC).

Confirmed panelists and speakers also include Eric Piscini, Global FSI Blockchain Leader, Deloitte (moderator); Jerry Cuomo, IBM Fellow and VP of Blockchain Technologies, IBM; Jeff Garzik, Co-Founder and CEO, Bloq; Marley Gray, Director of Business Development Blockchain & DLT, Microsoft; Joseph Lubin, Founder, ConsenSys; Mark Smith, Co-Founder and CEO of Symbiont and Co-Chair of the Smart Contracts Alliance.

Registrants will have advance access to a new whitepaper, which drew input from a dozen or more of the most influential companies in smart contracts. The paper will include use cases spanning finance and trade, healthcare, accounting, real estate, insurance, trade and finance and other verticals, said the Chamber president.

Microsoft's Yorke Rhodes, Blockchain and Identity Strategist, will unveil a related Microsoft initiative that leverages technology and draws upon the company's global corporate responsibility and humanitarian commitments.

Chain's new Ivy language for smart contracts will be presented by Chain Product Architects Oleg Andreev and Dan Robinson.

For full registration information, including concessionary rates for government and academic professionals, visit here.

The Chamber's website reflects a broad array of policy, regulatory, best practices and educational initiatives.

Not long after the next U.S. President is due to take office, the Chamber will convene its DC Blockchain Summit, March 15-17, 2017.

According to its website, the Chamber's advisory board includes Chamber Chairman, Matthew Roszak of Bloq and Tally Capital; Carol Van Cleef, partner at Manatt, Phelps & Phillips; author, publisher and venture capitalist, George Gilder; Digital Assets Holdings CEO Blythe Masters; Don Tapscott of The Tapscott Group; Jason Weinstein, Director of the Blockchain Alliance and a partner at Steptoe & Johnson; James Robinson, managing partner in RRE Ventures; and Mark Wetjen, Head of Global Public Policy, DTCC.

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Man Inherits 100KG of Gold, Sees 45% Taxed; Bitcoin Soldiers on as Safe Asset

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BitSE Launches Blockchain-Based VeChain Platform, Teams Up With PwC

Shanghai-based Blockchain-as-a-Service (BaaS) company, BitSE, is opening possibilities for every industry with the official launch of VeChain, a cloud product management platform built on a blockchain, at a recent event in Shanghai.

Due to a shared interest in expanding the use of blockchain technologies, BitSE is collaborating with PricewaterhouseCoopers (PwC) to boost blockchain adoption in the Asian Pacific markets, with the goal to help their clients design and implement innovative blockchain solutions.

VeChain focuses on four areas: anti-counterfeiting, supply chain management, asset management and client experiences. By putting unique IDs on the blockchain and embedding each product with an NFC (Near Field Communication) chip, RFID (Radio Frequency Identification) tag or QR (Quick Response) code, all of which can verify whether an item is genuine or not, VeChain provides an opportunity for different enterprises to easily create, manage, maintain and update shared data.

BitSE COO Sunny Lu told Bitcoin Magazinethat the VeChain launch is a symbolic moment, not just for BitSE but for the whole industry.

“We found the right path to apply blockchain technology,” Lu said. “The best way to know if a technology is impacting the world is by seeing if that technology can be monetized, and even before the launch we had signed some contracts with clients.”

BitSE is hoping to achieve three objectives with the launch of VeChain.

First, by putting unique IDs on the blockchain, they want to apply blockchain technology to creating a transparent supply chain. VeChain can solve issues related to counterfeit products, through tracking and tracing merchandise, communication and cooperation among different parties in the supply chain, and supervision by government agencies, to name a few.

Only last month at Shanghai’s Fashion Week, BitSE’s VeChain project teamed up with independent fashion label Babyghost to put fashion on the blockchain.

By doing so, they gave the fashion crowd a unique experience, linking the fashion world with the digital world, and giving customers the ability to discover product information about the clothing they buy.

“This collaboration brought new meaning to Fashion Tech,” Lu said. “We believe it fits perfectly into what the fashion industry needs — giving extraordinary and unique experiences to others.”

The second objective BitSE wants to achieve through VeChain is to make a connection between the different IT systems that operate on the supply chain. Lu said that current IT systems are kept separate from one another, creating a lack of trust regarding the information among the various parties.

“With VeChain, we can make a connected information system that will help automate much of the supply chain,” he said. “We want to enable the commercial world to do something they weren’t able to do before and wouldn’t be able to do without this platform.”

Thirdly, they are attempting to increase the efficiency of the supply chain. At present, a lot of processes still run on paper, requiring a high amount of trust in the system. BitSE plans to integrate the flow of funds, information and goods, and to decentralize the trust aspect of trade.

Teaming Up with PwC

Speaking at the recent Shanghai Conference, Elton Huang, Senior Partner for PwC’s Shanghai office and the central markets leader, said that when choosing to work with a startup company, PwC looks to see what that company is working for: money, fame or a special mission.

“The mission of PwC is to solve important problems and build up social credit,” he said. “PwC focuses on companies whose motivation is to solve important problems.”

According to Huang, there are three big blockchain-related opportunities for the partnership with BitSE: the opportunity for 400 million middle class consumers in the country to participate in anticounterfeiting, thus producing a boom in the economy; finding solutions to improve service efficiency; and the need for true industrial automation, including an industrial Internet of Things (IoT).

Lu said that BitSE decided to partner with PwC because, while BitSE has expertise in blockchain technology and applications, PwC has vast business resources and industry knowhow. As such, Lu believes it will be a very effective partnership.

Along with monitoring over 200 technologies globally — such as augmented reality, virtual reality, artificial intelligence, robotics and blockchain — PwC is eager to cooperate with BitSE and VeChain, which resulted in the signing of a strategic joint business relationship agreement on May 31 this year.

“Before our partnership, we couldn’t imagine what a disruptive force PwC could be with new technology,” Lu adds. “We provided them with our blockchain knowledge, they provided us with their business experience, [and we have] engaged customers together and made significant progress delivering projects.”

PwC employs more than 200,000 people around the world, including nearly 10,000 people in China, and generates over $30 billion in yearly revenue. As it celebrates its 110th anniversary this year, there is the perception that PwC is too big to be innovative.

Huang acknowledged change can be hard for a company as big as PwC. We live in an uncertain world with the elite controlling many of resources, he said. And yet, if you take the example of the financial industry, if the center is removed, we share one ledger,

“In other words,” he added, “all the information held by banks is not bank centric, but distributed and shared. You will find that the uncertainty of the world changes, [and that while] information between people is asymmetrical, with blockchain technology that will change.”

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Deloitte Becomes Gold Sponsor of Ether Camp Hackathon

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GOP Legislator Mulls Regulation for Internet of Things

Bitcoin Accepted! Services Giant Ernst & Young Switzerland Will Allow Payments in 2017

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Ethereum Price Falls by More Than 7%

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Braking Barriers: From Fringe to Institutional Blockchain

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An In-Depth Interview With Omni Layer’s Patrick Dugan

Report: Investing and Asset Management Holds Greatest Potential for FinTech

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As India Demonetizes, Unocoin Launches Mobile App

Popular India-based Bitcoin company Unocoin has just announced the launch of its mobile applications for iOS and Android phones. Now users can buy, sell, send, receive directly from the device which should encourage more Bitcoin adoption within the country.

Also read: India Encourages ‘Mission Mode’ Digital Currency Adoption

New Mobile App to Attract ‘Mobile-Heavy Market’

unocoin-logo Unocoin is an Indian bitcoin processing company founded in 2013, which has expanded quite rapidly. Over the course of 2016, the Tumakuru-based startup has been scaling operations with funding, partnerships, and new services. The company has been on a mission to bring “Bitcoin to billions” with its continued development and endeavors across India.

Unocoin said its mobile application release comes at a time when “bitcoin adoption is rapidly ascending in India.” The significant increase is due to Prime Minister Narendra Modi’s decision to demonetize the rupee, the company explained. Unocoin hopes its new iOS and Android offering help accelerate bitcoin adoption with India’s large mobile market.

“As of now, there are more than 1 billion Indians who use mobile phones. More than 300 million use their phones regularly for accessing the internet. This trend is expected to go up by 56% per year,” details Abhinand Kaseti, Co-Founder, and CMO of Unocoin.

Focus on Seamless Mobile User Experience

Unocoin has had a very busy year. It set a national record for a bitcoin company, raising $1.5 million USD this past October. The pre-series funding round was backed by both Indian and international investors. Following this, the firm also released its API and an over-the-counter (OTC) marketplace. The company has also made partnerships along the way joining forces with MobiKwik and Purse.io.

The new mobile application will enable the purchase and sale pairing for BTC/INR, mobile/DTH (Direct to Home Satellite Program) recharge, SIP (Systematic Investment Plan) access. The platform will be available for iOS 7.0+ users and Jellybean or later for Android users.

“We focused on creating a design and interface that provided a seamless user experience on mobile,” Abhinand Kaseti said. “Customer satisfaction, easy navigation and user simplicity are the most important tenets to us, and we wanted to provide an even more convenient way for users to access and manage their digital currency portfolio when a home or work computer is out of reach.”

‘Ensuring Bitcoin Security and Ease of Use’

Unocoin said the wallet has all the amenities needed to obtain, sell, or store bitcoins. The dashboard features the wallet interface with BTC sending and receiving options. Additionally, the app has a 24-hour price chart, messaging support, and address books. Kaseti said the startup has invested a lot of time and effort in the mobile platform.

“We built this app from the ground up, using our very own public API, to ensure security and ease of use,” explained Kaseti. “It is secure with TouchID for iOS devices and password access for Android devices, and boasts a one-touch button for buying and selling bitcoin, complete with inbuilt conversion.”

Over the past few weeks, demand for bitcoin has risen exponentially. Localbitcoins reports show that there has been a surge of almost double the volume this month. This past week both Prime Minister Modi and Finance Minister Arun Jaitley have been pushing for digital adoption and a cashless society. Unocoin hopes to fulfill the residents of India’s desires to embrace a digital world by introducing a decentralized, better form of money.

What do you think about Unocoin’s new mobile applications? Let us know in the comments below.

Images courtesy of Shutterstock, and the Unocoin website

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The British Royal Mint Will Launch Blockchain Gold Trading Platform

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Google Alert - Bitcoin

Bitcoin

Daily update ⋅ November 29, 2016

NEWS

Has Bitcoin Failed to Deliver?

CoinTelegraph

Bitcoin has often been compared to the Internet itself. A project that will change the very world that we live in. The Internet has come to define the age ...

Why Aren't Bitcoin Businesses Talking About SegWit? - CoinDesk

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