Top 10 Blockchain News Of The Day (5th March, 2018)
Blockchain technology is a catalyst to propel the future of other industries and surprisingly the technology itself has become a multi-billion dollar industry. Here is a list of top blockchain news of the day from Blockchain Magazine which you can’t miss out.
People give thumbs up to Amazon Cryptocurrency: Poll
Amazon, one of the leading online retailers have received feedback on a poll with the results indicating that majority of the participants will welcome Amazon based cryptocurrency if it ever plans to go for it. The result was drawn from participants, thousand in number, wherein the participants openly declared that they would prefer to use the cryptocurrency from Amazon.
Starbucks is preparing for a blockchain app launch
In another development, Starbucks is reportedly in process of using blockchain on the Starbuck’s app. In an interview, Starbuck’s executive chairman, Howard Schultz said that Blockchain technologies can be used by Starbucks to move forward with a cashless store system. He added that Starbucks might create its own digital currency that can be used in integration with the app.
Is NEO the Ethereum of China or something else?
NEO is standing as the sixth most valuable cryptocurrency in the world. It is dubbed as Ethereum of China, which makes it sound promising. A study by Naom Levenson, named “NEO vs Ethereum” outlined that NEO can be way much better and efficient than Ethereum. The architecture of NEO has received both positive and negative feedbacks. The most attractive feature according to the observers is that the token by NEO functions separately from Processor payment token called the GAS. Neo has efficiently utilized Delegated Byzantine Fault Tolerant algorithm to strive for better consensus as well as reward shareholder. The architecture of NEO is short on decentralization front though. The validator nodes of NEO are controlled by the platform and are legally required to stay up, creating a risk factor to the anonymity that blockchain is known for.
Zcash comes up with its first network update
Cryptocurrency Zcash has announced its first upgrade dubbed ‘Zcash Overwinter’. The new update will be supported by April 2018. This will enable the Zcash team to go for the upgrade of Zcash protocol sapling and the same is expected to go live in September 2018. The announcements were made public in Zcash’s roadmap report. According to the report, the purpose of the new upgrade, Overwinter, is to make the protocol for future upgrades stronger and this will further make way for Zcash Sapling network upgrade. The new upgrade is said to include new features like version control, transaction protection and other improvements for transparency of the transactions.
PayPal to enter into blockchain ecosystem, launching expedited virtual currency
Global payment services, PayPal has filed an application in U.S Patent and trademark office, according to which PayPal is looking for a way to accelerate the speed of cryptocurrency payments. PayPal is seeking “Expedited Virtual Currency Transaction System” to narrow down the time taken to process payments between the merchant and a customer by avoiding transaction to be sent for inclusion on next available block. PayPal wants to create a wallet with their own unique keys for the merchants as well as customers to let go of the waiting time. PayPal had already announced its partnership with many bitcoin payment processors back in 2014.
Ripple’s payment products in integration with XRP
XRP is one of the most talked about custom cryptocurrency of the time. XRP had a boost of about 1000 percent by the start of this year. Ripple claims that its products are comparatively cheaper, faster and more efficient than what is available in the market today. XRP, being one of ripple’s product is the asset one can buy and trade. Ripple’s most talked about products are xCurrent, xVia and xRapid. xCurrent is built on a distributed ledger called interledger. Interledger is the company-built product of Ripple but is managed a non-profit. xCurrent has connectors, which have a value in number of the currencies, thus allowing xCurrent users to transact in multiple currencies. When xCurrent system is used to trade XRP, the product is xRapid. xVia, on the other hand, has XRP as a cryptocurrency option and allows users to go for invoice generation of the transactions.
Russian Vice-Minister wants Stability-focused blockchain
Alexei Kozyrev, the vice minister of Russian ministry for telecom and mass communications, says that the government in order to start using the blockchain technology will need a platform that will not involve mining. According to the minister, Blockchain will be the answer to all the protection and storage related problems of the documents that the country faces. According to Alexei Kozyrev, the already existing blockchain systems are unstable to be used from the organizational point of view. Russia is already running pilot tests to use blockchain technology to assist local voting systems and to increase the transparency of the same.
Cardtronics terms Cryptocurrencies as “threat” to their business.
The world’s largest ATM operator, Cardtronics has termed cryptocurrencies one of the major threats faced by the company. According to the latest 10-K annual report published by the company, a major shift of has occurred in the consumer’s preferable payment method as majority prefers an electronic form of payments. As people are getting more inclined to cashless transactions or digital transactions, by the next few years ATM’s can become irrelevant. Cardtronics have also mentioned Bitcoins as one of the causes for the reduced demand of cash. New contactless payment systems are replacing the traditional setup of cash transactions with more and more users finding the system more safe and efficient.
Pundi X– Empowering blockchain
Drastic innovations in tech push you forward to learn and adapt. When blockchain and cryptocurrencies are about to change the way this world looks, it becomes compulsory to keep up with the pace. Keeping up with the face is the Pundi X, which is bringing out a more transparent and a very open system. The system empowers blockchain developers and token holders to create a cryptocurrency-based exchange in any part of the world. It makes the entire process easy as you can easily store, access and sell cryptocurrencies around the world. The device facilitates transactions via mobile wallets and cards as well.
Say hello to the new HR Tool- The blockchain
Just as many sectors around the world are mining the uses of the blockchain, HR professionals have also found their toolbox in the most talked about technology. The Blockchain is known to safely and reliably store data that is also immutable and makes sure that the data can be distributed as well. This can allow universities and colleges to record the data on the blockchain network, while employees can do the same about their titles, remuneration etc. This database can be available and can put an end to resume exaggeration and can help eliminate the time taking background screening processes. Blockchain can thus bring in an accurate picture of candidate’s background, making the selection process efficient and accurate.