Lifeboat Foundation

Multinational engineering and electronics giant Bosch recently highlighted a new device connectivity method which will work with the Iota marketplace, among other things, for real-time IoT (Internet of Things) data collection and sales.

Data Collection for the IOTA Marketplace

In a recent blog post the firm opened with a quote from 1999 from Nobel Prize winner Milton Friedman extolling the virtues of anonymously transferring funds on the internet, way before cryptocurrencies were even conceived. It continued to elaborate on the Iota ecosystem, its advantages over Bitcoin, and why it has been chosen as a partner.

Continue reading “Bosch Boosts IOTA With New Device Connectivity For IoT Data Collection” »

Cryptocurrency millionaire Jeffrey Berns has revealed plans to develop a large parcel of Nevada’s desert into a smart city powered by blockchain technology.

Berns, who made a fortune selling cryptocurrency last year, plans to transform the 67,000-acre (27,113-hectare) plot in the north of the US state after paying reportedly paying $170 million (£130 million) for the land.

The site known as Innovation Park, which neighbours hubs of major tech giants including Google, Apple, Switch and Tesla, is already home to the headquarters of his company Blockchains – an incubator that supports ventures and businesses using blockchain technology.

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At Quora.com, I respond to quetions on Bitcoin and Cryptocurrency. Today, a reader asked “Will we all be using a blockchain-based currency some day?”.

This is an easy question to answer, but not for usual Geeky reasons: A capped supply, redundant bookkeeping, privacy & liberty or blind passion. No, these are all tangential reasons. But first, let’s be clear about the answer:

Yes, Virginia. We are all destined to move,
eventually, to a blockchain based currency.

I am confident of this because of one enormous benefit that trumps all other considerations. Also, because of flawed arguments behind perceived negatives.

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Maria Bustillos is founder of the blockchain supported publication, Popula. I stole the title of this post from her essay at Medium.com (linked below).* I hope that Maria considers it a tribute rather than title-plagiarism. Her article is blocked by a pay wall, so allow me to explain a concept that confounds even a Nobel Prize winning economist. My take on the issue is somewhat different than Ms. Bustillos.

The difficulty understanding or appreciating Bitcoin boils down to a misconception that the dollar is backed by something more tangible, such as gold, guns or the promise of redemption. Not only is this an illusion, but Bitcoin is backed by something far more tangible, intrinsic and durable.

The illusion that “real” value emanates from government coupled with a robust consumer economy has been woven into our DNA for millennia. But, the value we attribute to a Dollar, Euro, or Yuan is a result of conditioning rather than any intrinsic value. That same conditioning has led us to believe that there is something sane and inherent in a nation that controls its money supply and its monetary policy.

Most public works projects—power generation, space ships, or the telephone network—were controlled by government in the past. If not, they were regulated as a licensed monopoly. This creates a choke point, a lack of competition, and a gaping opportunity for inefficiency, mismanagement or graft. It defies a free market economy and it concentrates power in the hands of politicians. But, at one time, it seemed necessary.

Continue reading “You don’t understand Bitcoin because you think money is real” »

Yale University, the Ivy League school that has invested in everything from Puerto Rican bonds to timber in New Hampshire, is getting into the market for cryptocurrencies.

Can stablecoins live up to their name?

Kudos to WallStreet analyst and advisor, Ric Edelman. He drank the Kool-Aid, he understands a profound sea change, and he sees the ducks starting to line up.

Check out the clearly articulated interview, below, with Bob Pisani at the New York Stock Exchange and legendary Wall Street advisor, Ric Edelman, (Not my term…That’s what CNBC anchor, Melissa Lee, calls him). Read between the lines, especially the last words in the video, below.

Ric Edleman has just joined Bitwise as both investor and advisor. This lends credibility and gravitas to the organization that created the world’s first cryptocurrency index fund. Bitwise benefits from Edelman’s affiliation, because the US has been slow (some would say “cautious”) in recognizing the facts on the ground: Cryptocurrency is already an asset class.

Edelman fully embraces a strong future for Bitcoin—not just as a currency or payment instrument, but as a legal and recognized asset class; one that is at the starting line of a wide open racetrack. He explains that the SEC sets a high bar for offering a Bitcoin ETF, but that this will be achieved. It will pave the way for large institutions, pension funds, etc to allocate a portion of money under management for blockchain products.

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U.S. immigration official Matthew Allen said his division can find criminals using cryptocurrencies when they convert from fiat.

But there’s a catch: what about the faithful ‘execution’ of a contract? Doesn’t that require trust as well? What good is an agreement, after all, if the text is there but people don’t respect it, and don’t follow through on their obligations? Which brings us back to the crucial matter of how Buterin managed to piss off so many people.

The great cryptocurrency heist.

Blockchain enthusiasts crave a world without bankers, lawyers or fat-cat executives. There’s just one problem: trust.

Continue reading “Trust: the inside story of the rise and fall of Ethereum” »