Jon Matonis Accepts Executive Position at Blockchain Firm Nchain

Matonis

The blockchain company Nchain wants to blaze a path toward creating on-chain solutions to the Bitcoin scaling conundrum, and now they have Jon Matonis at the helm. In a May 1 press release, Nchain announced that Matonis has joined their team as Vice President of Corporate Strategy. 

Also read: Alleged Mining Manufacturer Foxminers Accused of Being a Scam

The press release stated, “Blockchain pioneer Nchain announces the appointment of Bitcoin Foundation Executive Director Jon Matonis as its new Vice President of Corporate Strategy. In this position, Matonis will support Nchain’s business growth by developing commercial relationships, and evaluating opportunities for strategic investments and acquisitions.”

Matonis’ History in the Fintech Space

Jon Matonis Accepts Executive Position at Blockchain Firm Nchain
Jon Matonis

Matonis is known in the cryptocurrency industry as the founding director of the Bitcoin Foundation, which is one of the first organizations dedicated to providing funding for voluntary code developers. The foundation was also geared toward evangelizing Bitcoin and spreading the good word of cryptocurrency across the globe.

Over the years, Matonis has also been a tireless defender and popularizer of Bitcoin. His words have also been published in a variety of digital magazines. According to the press release, his articles have appeared in Forbes, Bitcoin Magazine, American Banker, CoinDesk, Payment Source, and others. Furthermore, Matonis is appreciated for creating the first well regarded Bitcoin Price Index, as well as hosting the largest Bitcoin conference in Amsterdam in 2014.

More impressively, Matonis is recognized as a staunch defender of decentralized solutions for the bitcoin scaling dilemma. He ferociously advocates for solutions that do not compromise the integrity or decentralized nature of the bitcoin protocol. This means his personal values align with Nchain’s position of creating on-chain solutions to the scaling debacle. In one comment Matonis said,

“The gradual elimination of trusted third parties from our economic and legal infrastructures belies a serious and unprecedented reorganisation of many legacy social structures. The winners will be those select individuals and entities that finally liberate themselves from the current centralising, rent-seeking chokepoints. I am excited to work with nChain to support growth of the blockchain ecosystem for everyone’s benefit.”

Nchain Secrecy and the Role of Matonis

Until this press release and another one on April 12, regarding Nchain’s acquisition by High Tech Private Equity Fund, the company has been secretive about their operations. They even disallowed employees to post profile content on Linkedin. They admitted their lack of public activity after Bitcoin.com asked questions about the specifics of their current projects. They responded,

“Regarding your question below the entire organization Jon Matonis Accepts Executive Position at Blockchain Firm Nchainhas kept a blanket is secrecy around its entire operation. Staff are not allowed to post on LinkedIn or to even have business cards historically. (This point you could reference). As part of coming out of stealth mode this policy of confidentiality will be considered and modified, however we have yet to determine exactly how.”

However, it appears that Nchain has decided to exit stealth mode by hiring Matonis. This has been seen by some as a well calculated move by the firm. Matonis is an influential public figure in the Bitcoin community. This suggests that Nchain may be preparing to conduct a vigorous public campaign while also competing with blockchain rival companies such as Blockstream and others. It will be interesting to see how Matonis drives Nchain’s corporate strategy policy as Bitcoin’s scalability issues start to become even more inflamed and pronounced.

Do you think Nchain and Matonis can create non-centralized, on-chain solutions to Bitcoin’s scaling issues? Let us know in the comments below. 


Images courtesy of Shutterstock, and Twitter. 


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What Online Gambling Bitcoin Options Exist Today

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Online gambling is a multibillion dollar enterprise today with no dearth of options available to the customers. One of the biggest niche markets in the gambling industry is bitcoin gambling. The proliferation of the betting sites dealing in cryptocurrency is telling of the user base it has come to enjoy.

In the contemporary digital world, Bitcoin has been adopted by many businesses and people around the world, and among these businesses are the Bitcoin online casinos. The bitcoin casinos bring betting games, in traditional and new innovative forms to the customers dealing in cryptocurrency.

Gambling with Bitcoins is easier, faster and much more lucrative than with any other fiat currency. The deposits and withdrawal with Bitcoin are practically free at most of the casinos. The processing fee incurred on Bitcoin transaction is nominal when compared to credit card transactions. Bitcoin is also a safer alternative as chargebacks are almost impossible, and the speed with which payments are processed makes it even safer.

bitcoin

Moreover, even though the system is completely transparent, the option to maintain anonymity and hence privacy on the user’s part, further helps the case for online bitcoin gambling.

Therefore, it is not difficult to comprehend the reason for the kind of popularity bitcoin-based gambling has come to enjoy in the recent years. And due to the ever expanding customer base caused by an increase in bitcoin adopters around the world, the options for bitcoin gambling are only multiplying.

The options available to online bitcoin gamblers have expanded to include Bitcoin Live Casinos, Online Sportsbooks, casinos offering role playing games and many more, along with the traditional online casinos.

Bitcoin Live Casinos have gained popularity with an increased accessibility to improved network speeds and strengthened computer configurations. The wide range of casino games at live bitcoin casinos are broadcasted in real time with real dealers. The gaming options available at most of the live bitcoin casinos include live roulette, live blackjack, live baccarat, live lottery, live dice, live poker etc. Since, there are more than a handful of these live casinos, sites like LiveCasinos keep a tab of the best out of the lot.

Another option available to bitcoin gamblers is online sports betting. Online bitcoin sports betting conflates three of the major interests of the users: sports, gambling and bitcoin. There are many bitcoin sports betting sites in market today, and sites like Bitcoin Gambling Guide help the users to pick the best suited websites for them.

cryptogames newsbtc interview

While all the new options in online bitcoin gambling do attract a fair share of users, the traditional casinos still command a major share of the user base. And sites like Casinos Online help keep track of the best traditional online casinos on the block.

In a world with options galore, the decision to pick a few out of the many becomes extremely difficult. So, it is paramount that the gamblers have a clear understanding of the options available to them in order for them to make an informed choice every time without losing any real money.

Therefore, it is advisable for the punters to first go through a few review websites before they select one of the many online bitcoin casinos in the market. Information regarding the features of the enlisted betting sites, promotions and bonus offers, and betting markets, everything is provided by the review sites to help punters pick the best suited option for them.

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Japan Legalises Bitcoin; Price Goes through the Roof

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Bitcoin price has almost jumped 7 percent in the initial two days of May to reach a record high of $1469.56 on Tuesday. The Bitcoin price which now nears the record high of $1500 is spurred by the spike in demand from Japan, following the legalization of Bitcoin over there. Japan passed a law to accept bitcoin as a legal payment method which came in effect on April 1, 2017.

Bitcoin, which had suffered a dip in price in the latter half of March following the debate over the future of its underlying technology, was resuscitated by the support from Japan after its legalization there. The bitcoin price has been steadily rising since then, with only minor fluctuations.

Legalization of Bitcoin in Japan was supported by the major retailers of the country including consumer electronics giant Bic Camera, which began accepting bitcoins almost as soon as the new law was implemented.

As per the data compiled by cryptocurrency trading platform Gatecoin, Bitcoin trading in Japanese Yen is the second-most liquid market globally.

Coindesk research analyst, Alex Sunnarborg has noted a spike in global trading volume, especially from Japan and its bitFlyer bitcoin exchange as the cause of the present price hike.

Brian Kelly, founder of Brian Kelly Capital, doesn’t see the price hike spurred by hot money, rather he attributes it to institutional investors who seem to have taken interest in the sector. Kelly stresses that this money from long term investors is going to ‘sit around and build the new internet’.

What is further driving bitcoin price through the roof is the investor’s continued interest in other cryptocurrencies like ethereum, which are also seeing unprecedented price highs. According to Alex Sunnarborg, since these cryptocurrencies are usually bought and sold with bitcoin, it forces the traders to buy bitcoin which only helps bitcoin price.

Bitcoin, which is almost at a record high of $1500, is only set to rise further as countries like India and Russia plan to regulate it. The Indian government has been contemplating over the Bitcoin regulations for quite some time and is already experimenting with the underlying blockchain technology.

Russia’s interest in Bitcoin regulation is also a positive development. Russian Deputy Finance Minister Alexey Moiseev has already been quoted saying that Russia hopes to recognize bitcoin and other cryptocurrencies as a legal financial instrument by 2018 in a bid to tackle money laundering.

The increased regulation is sure to help Bitcoin by making it an attractive investment haven for investors who avoided it in the past due to the high risk and price swings.

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Craig Wright’s New Company is Building a Bitcoin Core Competitor

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robots, battle

Former Bitcoin Foundation director Jon Matonis doesn’t waste any time asserting that his new employer is seeking to disrupt bitcoin’s established development process.

Matonis, who joined the secretive startup nChain today, is quick to state that this is the ambition of the London and Vancouver-based operation he now claims has 60 full-time employees, including infamous developer Craig Wright.

As reported by Reuters, nChain was started by Wright, the 46-year-old computer scientist who claims to be bitcoin’s pseudonymous creator Satoshi Nakamoto (though he hasn’t offered much evidence). To date, nChain hasn’t offered much to support its assertions that it’s now the industry’s best-funded startup either, hinting only that it has received more than $100m from Malta-based high-tech private equity fund SICAV plc as part of an acquisition.

Yet, it’s a different company that Matonis has in mind in conversation – San Francisco-based blockchain services firm Blockstream.

Long the subject of criticism for the significant financial support it provides to developers working on bitcoin’s open-source protocol and its primary implementation Bitcoin Core, Blockstream has been villainized for that group’s roadmap for scaling bitcoin, specifically its decision to prioritize innovations that don’t alter a hard-coded limit on block size.

Matonis told CoinDesk:

“I immediately recognized nChain would be an effective challenger to Blockstream, which is definitely needed in the space.”

In conversation, Matonis echoes a familiar refrain, that Blockstream and Bitcoin Core are too intertwined, and that Core’s roadmap doesn’t have broad community support.

In Matonis’s view, bitcoin can once again return to the days when its blockchain was able to quickly clear its backlog of transactions with virtually no fees, while providing more advanced scripting languages – if only other software implementations gain transaction.

Yet, in conversation, Matonis backed away from the idea that nChain was “taking aim” at Blockstream, despite his frequent barbs aimed at the company.

Rather, Matonis spoke broadly of what he clarified is nChain’s broader attempt to introduce choice into a bitcoin software market he described as in need of competition.

“There’s a lot of resistance to the Blockstream model of pushing everything to a second layer, pushing SegWit and Lightning as the only solutions,” he said:

“We don’t have to settle for just one approach.”

Product strategy

Such comments come at time when alternative blockchain networks have come to show progress on flashier, more publicly popular updates to their technology, a development that stands in contrast to bitcoin’s now years-long scaling debate and offers some weight to critiques of Core’s model.

For example, ethereum is hard at work on innovations that would find it redefining how large blockchain networks reach consensus, while litecoin has more quickly adopted innovations originally intended for increasing bitcoin’s transaction capacity. (Though it would be wrong to say Core developers aren’t progressing).

However, ethereum, which lacks a reference implementation, is seen as more welcoming to alternatives, as its parity and geth clients allow developers a choice between competing softwares. (The benefit, proponents say, is that in instances of attack, should one fail, the other could emerge unaffected).

Former Bitcoin Core developers Gavin Andresen and Jeff Garzik, for instance, are two voices that have supported the idea, the latter calling multiple implementations “healthier than a homogeneous monoculture” with one reference implementation.

Against this backdrop, phase one of the nChain’s action plan is to release a software development kit (SDK) that Matonis said will likely be given away for free as a means of proliferating alternatives to Bitcoin Core, used today by 85% of network nodes.

Craig Wright's New Company is Building a Bitcoin Core Competitor

Matonis said the SDK will offer users the ability to boot up “specialized nodes” that would enable faster block propagation, a feature he contends would make scaling the bitcoin blockchain through a block size increase easier while appealing to node operators.

“The SDK is going to enable on-chain scaling for bitcoin without degrading decentralization,” Matonis said.

Already, he said nChain has been in talks with miners about the idea. But, how does this work within bitcoin’s existing architecture?

According to Matonis, nChain’s SDK will be different from newer Bitcoin Core competitors including Bitcoin Unlimited and Bcoin, which he framed as being more compatible with Core. Bitcoin Unlimited, for example, is a version of Bitcoin Core with new features added. Likewise, BCoin was built from scratch, but to be compatible with Bitcoin Core.

“nChain allows for other developers to build their own implementations using the techniques and innovations that we’ve tested here,” Matonis continued.

In this way, Matonis suggested that nChain believes it could gain enough traction on the network to become a popular implementation for other developers, thereby getting rid of the notion that one implementation is big enough to be called a reference at all.

He added:

“Our mission is to separate the protocol from its one true reference.”

Hard fork coming?

Asked how the strategy would impact the bitcoin network, Matonis said that nChain’s software will enable network stakeholders to choose between the two implementations, a development that he projects could spur a network split if successful.

Should nChain launch its implementation to widespread adoption, Matonis suggested that miners and node operators could be forced to choose between two competing versions of bitcoin’s blockchain history – one kept by Bitcoin Core and the other by nChain.

“This is the governance model for bitcoin, there’s no other governance model. If you can’t get traction with pull requests, you launch software propagation battles, and when one reference implementation has greater than 50% or 75%, you can attempt a fork of the network,” Matonis explained.

Such a scenario has long been the subject of fears in the bitcoin development community. For example, the idea that a hard fork could possibly disrupt the validity of the bitcoin blockchain was factor cited by Bitcoin Core developers in their support for their proposed scaling solutions.

But, given the risk of creating two separate bitcoin assets in the process, why not build a competing blockchain network? According to Matonis, the answer is hashing power.

While cryptocurrency markets such as ethereum and litecoin have recently hit notable highs, it’s bitcoin’s miners that Matonis believes makes it more valuable.

Craig Wright's New Company is Building a Bitcoin Core Competitor
“It will make bitcoin more competitive against altcoins,” Matonis said of the implementation, invoking the idea that the design is similar to that seen in the open-source Linux project.

Still, Matonis reports nChain is working on larger goals to make bitcoin useful beyond just being a store of value, one he suggested would have greater societal benefits.

“I want to elevate the sector beyond fintech to a more general computation market for enterprise computing,” he said, concluding:

“We’re still a small group fighting in the weeds. I’m looking beyond, there’s a much larger market across many verticals.”

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Blockstream and Purse, the creators of Bcoin.

Robots fighting via Shutterstock

Bitcoin CoreBlockstreamCraig WrightJon MatonisnChain

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Wecast Network To Release Q1 Reports And Cast A Forward Glance At Blockchain Tech

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Wecast Network is seeking to break into the B2B space using blockchain-based solutions.

Wecast Network, a broadcasting company headquartered in Beijing and New York, announced that on Monday, May 15, 2017, they will be hosting an investor update conference call, relative to the release of their first-quarter reports.

Wecast Network is focusing on “BASE” (Blockchain, Artificial Intelligence, Supply Chain, and Exchanges), and will bring the synergy of three interoperable clouds to provide a platform which is flexible, vertical, and transactional.

According to an investor presentation on the network’s corporate site, each cloud will focus respectively on intellectual property (IP), platforms as a service (PaaS), and a transactional cloud. While the IP cloud will be focused on content distribution, and PaaS cloud on B2B (business-to-business) applications like augmented reality storefronts and predictive analytics, the transactional cloud will be supported with blockchain technology as a means of verification.

Investors are invited by Wecast Network to join a webcast or conference call on May 15 by visiting the “Webcasts and Events” section of the corporate website, or by calling toll free at 877-407-3107 or internationally at 201-493-6796.

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. Jeremy is a full time staff writer for ETHNews.

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Bitcoin Price Maintains Stability While Altcoins Fall; The Importance of Low Volatility

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Bitcoin price is on its way towards reaching $1,500. Over the past seven days, bitcoin has surged from $1,278 to $1,471, recording a 13.4 percent weekly increase in price. Although alternative cryptocurrencies, or altcoins, have experienced a similar trend in growth, altcoins are struggling to maintain stability.

Bitcoin Price Maintains Stability While Altcoins Fall; The Importance of Low Volatility

Screenshot from CoinMarketCap.

As seen in the image above, most cryptocurrencies with the exception of bitcoin have demonstrated a decline in price on May 2. Such trend in the price of altcoins followed a massive surge in value in the past three days, with assets such as Ethereum’s Ether establishing its new all-time high price and market cap at over $7 billion.

Yet, even the top cryptocurrencies are struggling to deal with volatility and as bitcoin and security expert Andreas Antonopoulos noted, volatility is not beneficial for the industry and the market.

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In October of 2015, he wrote:

“Don’t be too excited with recent bitcoin short squeeze and rapid price climb. Volatility is bad even when it’s going upwards. Volatility is good for traders and bad for the overall industry. I’m more concerned about the long-term health of the industry.

He expressed his concern over the rising volatility rate at the time and its negative impact on the overall industry of bitcoin. Since then, as demonstrated in a graph presented by bitcoin analyst and data provider Willy Woo, bitcoin volatility declined significantly, from around 50 percent in 2013 to 6.5 percent in the past 60 days.

Bitcoin Price Maintains Stability While Altcoins Fall; The Importance of Low Volatility

The entire cryptocurrency market is on an upward trend due to bitcoin’s explosive growth. Some investors are actively looking into various cryptocurrencies because they believe the probability of investing in bitcoin and generating large profit margins is relatively small. A large portion of the trading community have also invested in other cryptocurrencies due to bitcoin’s current scalability issues and blockchain congestion. The rest have invested in complementary cryptocurrencies such as Ethereum, Zcash and Monero that offer features or functionalities which bitcoin lack.

Overall, it would not be an exaggerated reasoning to attribute the recent surge in the altcoin market to the growing demand toward bitcoin. Moreover, the emergence and rising popularity of initial coin offering (ICO) have further triggered the interests of investors in alternative cryptocurrencies.

However, there exist some altcoins that have actual users and active communities. Ethereum, for instance, is utilized by its community of developers and regular users to pay for applications. Within Ethereum, the fee for running an application is called Gas. Zcash and Monero are used by active communities that are concerned over bitcoin’s lack of financial privacy and strengthened AML and KYC policies.

The vast majority of altcoins listed on market data platforms are experiencing an increase in price due to the overwhelming performance of top cryptocurrencies such as bitcoin. Therefore, when bitcoin maintains stability, most of the altcoins tend to become more volatile and fluctuate wildly.

In order for a cryptocurrency to secure an active user base who are utilizing the token for an actual use case, it is important that the volatility rate remains low.

Featured image from Shutterstock.

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Bitcoin Price Maintains Stability While Altcoins Fall; The Importance of Low Volatility

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Nexxus Ecosystem to Create Density of Adoption with Token Sale

Nexxus Ecosystem to Create Density of Adoption with Token Sale

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Plano, TX: Nexxus announces its ecosystem to address one of the biggest challenges for bitcoin identified by Andreas Antonopoulos at the 2017 Blockchain Africa Conference, as the Density of Adoption. Andreas stated “You can’t do most of the things, yet, that might be very interesting markets and the reason you can’t do them is because there’s not enough liquidity, there’s not enough users, there’s not enough adoption”.

Nexxus is promoting mainstream public adoption by introducing bitcoin and cryptocurrency to local communities worldwide with physical cryptocurrency cafes, a network of cryptocurrency ATMs, an innovative shopper rewards program, and cryptocurrency education and certification.

The Nexxus ecosystem technology includes the Nexxus Rewards global rewards community and bartering program at www.NexxusRewards.com, the Nexxus University cryptocurrency education and certification program at www.NexxusUniversity.com, the Nexxus corporate strategy and executive management team at www.NexxusPartners.com, and the internal currency and digital token of the Nexxus ecosystem at www.NexxusCoin.com.
The Nexxus go-to-market strategy includes viral marketing revenue sharing, a certified direct sales force, a community outreach program, and a critical mass strategy to create a significant concentration of merchants and shoppers in local communities worldwide.

Nexxus founder and CEO, Bob Wood states, “Nexxus is facilitating bitcoin and cryptocurrency as a huge movement that is bigger than all disruptive technologies in modern history combined, because we’re now disrupting the power structure of the political and financial establishment – the people’s money”.

Nexxus is also conducting a digital token sale on May 8, 2017 at http://bit.ly/2qeTUB7. The Nexxus digital token is the internal currency used for value exchange within the Nexxus ecosystem of cryptocurrency products and services, similar to the Ether token on the Ethereum platform. Nexxus digital tokens are used as the cash-back reward points given to shoppers by merchants for every transaction in any currency including local fiat currencies, credit/debit cards, cash, bitcoin and other top cryptocurrencies. Every purchase in any currency causes Nexxus digital tokens to be purchased from the open market to fulfill the granted reward points. Nexxus digital tokens have automated buyer demand from the Nexxus ecosystem.

About Nexxus Partners: Nexxus Partners is a services company for the bitcoin and cryptocurrency industry, and is the developer of the Nexxus ecosystem, which includes the Nexxus Global Rewards Community that is the first local bitcoin loyalty rewards program taking cryptocurrency mainstream, the Nexxus University that provides the education and certification for people to benefit from the new peer-to-peer electronic cash system, the Nexxus Bartering program for local users to trade their unwanted or surplus products and services with each other in cryptocurrency, and the Nexxus HandUp program to assist the less fortunate with the benefits of cryptocurrency.
###

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Police Are Holding OneCoin Promoters in Custody in India

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Indian police are continuing their efforts to recoup funds from promoters of OneCoin, a digital currency investment scheme widely believed to be fraudulent.

Local reports indicate that investigators in Mumbai continue holding more than 18 individuals in custody for further questioning after they were arrested last week by undercover officers.

OneCoin is a purported digital currency sold through investment packages that are often pitched as sure-fire ways of making lots of money. Long accused of being a pyramid scheme, those solicited are often encouraged to purchase large packages of “tokens” (which can then be redeemed for OneCoins) and find other buyers to increase the size of their network.

The scheme has caught the attention of law enforcement and regulatory officials in a number of countries, including India. Speaking to The Hindu, a police official said that a new investigative team had been established to focus specifically on complaints tied to OneCoin.

“We need police custody for investigating the case and to get all details of the scam. We have got custody of the accused till May 3,” the official said.

That Indian police are shifting resources and seeking additional information from those held indicates that officials in that country are continuing to step up their fight against OneCoin. Recent reports show that other countries, including most notably Germany, are taking aim against the scheme in other ways as well.

As reported last week by CoinDesk, BaFin, Germany’s top finance regulator, issued cease-and-desist letters to major elements of OneCoin’s global operations, effectively ordering it to stop operating in the country.

Reports from last month also indicate that Kazakhstan’s government has also taken steps, ordering a OneCoin advocate under house arrest pending further investigation, according to a report from regional news service Tengri News.

Jail cell image via Shutterstock

FraudIndiasOneCoinscam

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University of Virginia Researchers Develop Artificial Pancreas to Control Type 1 Diabetes – The Merkle

It would seem artificial organs are quickly becoming the new norm where scientific research is considered. The University of Virginia successfully developed and trialed an artificial pancreas to help children control Type 1 diabetes. This is a major breakthrough in scientific research that will send shockwaves throughout the community moving forward.

An Artificial Pancreas To Control Type 1 Diabetes

Scientists from all over the world have tried to come up with a tangible solution to combat diabetes. Unfortunately, the challenge has been a very steep one so far. That being said, there appears to be a light at the end of this long tunnel right now. To be more precise, the University of Virginia developed an artificial pancreas that will help young children control their Type 1 diabetes.

On paper, creating an artificial pancreas sounds like something worth checking out, even though there is never a guarantee for success. What this “organ” does is actively monitor and regulate the blood-sugar levels of its host. This means people who suffer from Type 1 diabetes will no longer need to manually inject insulin nor prick their fingers to check blood sugar levels. The fact this pancreas works as advertised, and is quite significant for the medical sector as a whole.

All of the data generated by the artificial pancreas is sent back to a reconfigured smartphone which runs algorithms to process the data. This smartphone then sends the information to a blood-sugar monitor and insulin pump worn by the person suffering from Type 1 diabetes. Moreover, all information is also broadcasted to a remote monitoring site, where the data is collected on behalf of the patient.

There is another major benefit to this artificial pancreas beyond automatic insulin injections and actively monitoring blood-sugar levels. It can also prevent hypoglycemic events, which is always a major concern for children with Type 1 diabetes. A field trial was conducted among 12 children, all of whom were perfectly capable of controlling their diabetes using this new method. In fact, the children wearing this artificial pancreas saw lower average blood-sugar levels and did not increase hypoglycemia during the trial period.

Although this was only a small test, it goes to show the artificial pancreas is of great benefit to Type 1 diabetes patients. It is designed for children between the age of 5 and 8, although it is not unlikely similar technology will be devised to support other age categories in the future. There are many people who are suffering from Type 1 diabetes, regardless of their age.

For now, the plan is to monitor children for an extended period of time and see if the artificial pancreas is as effective at school as well. The first test was conducted during a 68-hour window both with and without the pancreas, which only provides a brief glimpse of how this “organ” will hold up. Additionally, there is a plan on the table to provide an artificial pancreas to children aged 14 and older suffering from Type 1 diabetes as well.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

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Bitcoin Price Surge Due to Rise in Institutional Investors: CNBC Analyst

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CNBC Analyst and Capital founder Brian Kelly attributed the recent surge of Bitcoin price to the rising demand of institution investors toward Bitcoin.

An increasing number of investors and traders have begun to recognize Bitcoin as a long-term investment, store of value and settlement network, rather than as a short-term investment or “hot money,” as Kelly described.

Investors looking to trade Bitcoin for Japanese yen

In particular, the Japanese Bitcoin exchange market and industry have matured significantly over the past few months, to the point in which the country’s largest financial institutions and corporations have started to launch digital currency exchanges and trading platforms.

SBI Group the $3 bln financial conglomerate based in Tokyo, recently established SBI Virtual Currencies, to create a secure and efficient ecosystem for investors looking to trade Bitcoin for the Japanese yen. Another multi-billion dollar Internet company in GMO Internet has also announced its plans to launch a Bitcoin exchange within this year.

A representative from SBI Group told a local publication:

“We didn’t even have minimum guidelines [back in 2014, when the Bitcoin exchange Mt. Gox collapsed,] so users will now feel more secure.”

Major alteration in mainstream perception of Bitcoin

The SBI Group representative further emphasized a major alteration in the mainstream perception of Bitcoin as a legitimate digital currency, primarily due to the Japanese government’s legalization of Bitcoin as legal tender.

Also, a large factor that has convinced institutional investors to invest in Bitcoin is the elimination of tax requirements for Bitcoin. Countries such as Japan and the Philippines have completely legalized Bitcoin as legal tender and are set to drop any relevant taxes for Bitcoin traders and investors.

Kelly stated:

“The biggest driver right now is you’re starting to see institutional investors take a keen interest in the entire sector. I don’t think this is hot money. This is real money that’s going to sit around and build the new Internet.”

According to CNBC, Kelly reaffirmed that Bitcoin price strengthened over the activation of Segregated Witness (SegWit) on Litecoin and the community’s optimism toward SegWit activation on Bitcoin.

Scaling solution first, to the moon after?

Recently, Bitfury vice executive chairman George Kikvadze revealed that high-profile investors are delaying “massive investment” in Bitcoin and its businesses due to the digital currency’s lack of scaling solution.

Upon the activation of a scaling solution, whether that be SegWit, Bitcoin Unlimited or Extension Blocks, investors will be willing to invest in Bitcoin with flexibility and full confidence.

“Just finished a two-week roadshow with investors. Message: we love Bitcoin but need to sort out scaling before we massively invest [in Bitcoin.] Activate SegWit!,” said Kikvadze.

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