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Russian Vice Minister on Blockchain Stability

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The Vice-Minister of the Russian Ministry for Telecom and Mass Communications Alexei Kozyrev said that the only way for Blockchain to have a spot at a government level is to develop a platform that does not involve crypto mining.

Russian Government: Blockchain

There is no doubt that Blockchain would definitely help solve the problem of long-term storage and protection of documents and forms of ID. He also said that in order to meet the necessary requirements, the platform should be “unified and universal”.

Kozyrev then stated:

“The existing solutions in Blockchain from an organizational point of view are very, very unstable. According to data from Tokendata, more than 50% of Blockchain platforms created have already gone bankrupt or disappeared.  If we’re talking about how the government will adopt Blockchain, then obviously we cannot count on platforms which were created by commercial organizations, because these platforms are very, very unreliable. In this way we understand, that we need to create our own platform for Blockchain technology.”

The Russian government is currently moving towards new Blockchain initiatives which started in December of last year.

The idea is to use Blockchain to improve the local voting systems and improve transparency in its “Active Citizen” initiative.

 

 

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R3’s Blockchain Platform Live

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According to Credit Suisse’s recent press release, the first live transaction of 25 mln euros, which is worth about $30 mln, has been made on R3’s Corda Blockchain Platform.

First Live Transaction

Live

The press release states that the use of DCRs for transferring securities can “ultimately help enhance regulatory transparency, mitigate systemic risk, reduce operational risk, and help financial institutions manage capital more efficiently.

Ivar Wiersma, the head of ING’s Wholesale Banking Innovation, stated that:

“What’s really different is that [using digital ledger technology] gives the regulator the opportunity to get direct access to the ledger and see the entire digital history of the transaction, from where it originated to its ownership and attributes. In the over-the-counter environment, which is traditionally not that transparent, it could make the entire financial system more resilient.”

Charley Cooper, a managing director at R3, said that the recent transaction was “far more than a proof of concept in a fenced lab.”

“These are regulated institutions in a real market and it is a unique demonstration that blockchain solutions are being deployed in commercial settings.”

The application will be live by the end of 2018, says a ING Blockchain initiative representative.

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Blockchain in Artificial Intelligence

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In a recent interview at Blockchain Connect 2018 Coincentral interviewed DeepBrain Chain’s CEO. DeepBrain has shown some interesting projects related to the advancements of Blockchain and artificial intelligence.

The team is made of artificial intelligence experts that focuses on exploring the practical application of Blockchain to innovate within the AI fields.

In the interview He Young talks about some of the important aspects of blockchain’s role in artificial intelligence.

He Young Talks: Blockchain and AI

CoinCentral: So my first question is, why artificial intelligence on the blockchain?

He Yong: This is a very good question–there is a reason behind it.  We’ve been in the AI field for 4-5 years now, but every time we have a meeting, our CTO will raise a question.  He will tell me that we don’t have enough machines–we need to buy more machines and computing power. Also, we need to buy more data, so everyone’s a little troubled because it’s very expensive equipment and data to buy.  So we were wondering, the troubles we were encountering, were other AI companies having the same issue?  It just so happened at the time that I was also researching and studying the technicals behind Bitcoin.  So it occurred to me, perhaps, blockchain technology could help AI solve some of its issues. This is how DBC came about.

Brilliant.  So what I’m gathering from this is, you mentioned a lot about when an AI platform wants to expand, it needs to acquire more data, more infrastructure.  So distributed computing power through blockchain would allow DBC to acquire data more easily?

You should put it this way: DBC will allow AI companies to acquire data more easily.  Because a lot of data are private data.  They have heavy security, such as on health and on finance.  For AI companies, it’s almost next to impossible to acquire these data.  The reason being, these data are easy to copy.  After the data is copied, they’re easy to leak.  One of DBC’s core features is trying to solve this data leakage issue, and this will help AI companies’ willingness to share data, thus reducing the cost you spend on data, to increase the flow of data in society. This will expand and really show the value of data.

So the focus seems that you’re trying to make data easier to acquire without sacrificing cost and security.

Yes, this is one of the issues we’re trying to solve–you’re very correct on that point. To reduce the cost of data and to also increase the flow of data to help more companies acquire data, this is also based on protecting data.

One thing that we’ve been seeing in the space with projects that are very tech-heavy, they’re working on very innovative ideas.  But one thing that we’re noticing from a lot of these projects is that they have a very vague business map of the future.  

DBC’s idea is very clear.  Its target clients and roadmap are also very clear.  Our top clients are all AI companies.  Second, our roadmap is also very clear, according to the core features of our product.  First, our feature is to reduce computational cost for AI companies.  This is our first core feature, and we’re going to test it in Q3 this year.  Next, AI companies can buy data on the platform, and data providers will provide this data.  In the future, we want to help AI companies with financing, we want to try to help them financing on our platform.

So what’s the day in the life of the CEO of DBC look like?

“There is not a lot of regular schedule in a day.  Because our company is based in Shanghai in China, but also in Silicon Valley and also in Korea.  So my working time is not very regular.  As soon as I wake up, I start working on my phone and have to go to multiple countries.

So in that vein, what is your favorite thing to do that’s not this?

In the past I liked to watch films–in the past.  But I don’t go to the cinema.  It’s just on my laptop.  It’s been almost six months since I watched films regularly.

To read the full interview click here.

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Digitize Coin Token Sale Interview

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The  TechBullion recently sat down with Umer Aslam, the CEO of Digitize Coin, a new Blockchain innovation that helps its users to instantly digitize loose change and cash into digital currency. In the interview he talks about the token sale and how his innovation takes place in the crypto community.

Interview: Umer Aslam

1) Could you please tell us your name and about yourself?

My name is Umer Aslam, Founder and CEO of Digitize Coin. I am a massive fan of cryptocurrency, and believe the world needs to capitalize on Blockchain technology. I have worked predominantly in the IT industry within my career, having over 6 years of experience within the project management industry. My most recent role was working for IBM as a portfolio manager, where I managed large infrastructure projects for enterprise clients.

2) What is  Digitizecoin and what is the technology behind it?

Digitize is an upcoming ICOwhich lets you digitize loose change and spare cash to cryptocurrency, Instantly. The loose change is tokenized into Digitize currency at the point of a retail transaction, allowing it to be used for payments, rewards programs, exchanged for Etheruem or to invest in the crypto index.

The technology behind Digitize is leveraged off an ERC20 Token, and improved into a mobile application. Digitize is creating a simple to use mobile application which will facilitate transactions and include an exchange.

3) Would you like to tell us about your team?

Our team consists of the following team members:

Kent Tran – platform developer, who handles the backend infrastructure, including mobile applications.

Radek Ostrowski – Blockchain developer,  who looks after the smart contracts.

Rehan Ahmad – Legal consultant, who manages regulation across different jurisdictions

Ahmer Sheikh – Customer relations manager, who handles client relations.

Each one of our team members has over 5 years of corporate experience within their relative industries.

4) What inspired you to launch a Loose Change Crypto on Blockchain Technology?

Two of my many frustrations in life were carrying loose change, and the difficulty in purchasing cryptocurrencies. As I saw the world shifting towards digital currencies, I noticed under developed and unbanked economies lagging in the adoption. This is when I thought that a solution was needed, thus Digitize was born

5) What makes  Digitizecoin cryptocurrency different from the others, tell us more about your value proposition?

Digitize is aiming to help the world transition from a cash based society, to a digital one. Digitize is targeting the public and consumer directly by solving a real world problem. Most cryptocurrencies today are tech heavy and hard to understand for the average consumer – a barrier for the mainstream adoption of the technology. We plan to solve this by developing a service that helps consumers convert loose change to crypto and remove the frustration of carrying and saving loose change entirely. By making this process a simple and seamless experience we can help bring the public into the crypto world one coin at a time.

Further, Digitize also offers OTC (over the counter) purchases of cryptocurrency up to $5000 AUD. Recently, with global bans of credit card purchases of cryptocurrencies, cash based deposits are much needed in the space.

To read the full interview click here.

 

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