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Bitcoin Cash Up As Original Chain’s Price Recedes

The fork of Bitcoin from August 2017 known as Bitcoin Cash (BCH) surged over 30% on Friday according to industry price analysts at Coinmarketcap. This corresponded with a marked drop in the price of the original Bitcoin’s (BTC) price to its lowest point since the start of November. Analysts are attributing the redistribution to the failed Segwit2x fork which was scheduled later this month. However, interestingly there seems a lack of consensus as to why traders are moving from BTC to BCH.

Some believe that it’s simply a matter of those traders who were holding Bitcoin to receive a dividend of new coins like what happened in August selling and moving back into various altcoins. Looking at the sea of green over Coinmarketcap immediately following the decision would suggest there’s a fair bit of truth in their opinion too. For them, part of the huge run up in price was caused by people buying in to get free coins. Now that there are no new coins, the money is flowing elsewhere. Chris Burniske, author of Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond believes this to be the case. He told CNBC:

You can see people playing back and forth between bitcoin and bitcoin cash trading depending on where they think near-term catalysts may be. It’s been a battle of investors versus traders that were stockpiling bitcoin to get their ‘bitcoin2x dividend’.

However, not all see it like this. There are some analysts who interpret the shift towards Bitcoin Cash as a belief in that version of the code, rather than the original – known in the industry as Bitcoin Core. For proponents of BCH like Roger Ver, the use of bigger blocks as a scaling method are closer to Satoshi Nakamoto’s original vision. Second layer scaling solutions like Segwit are not in line with the whitepaper which the mysterious Nakamoto published before disappearing early in the life of Bitcoin.

For those like director of XTB, Joshua Raymond, Segwit2x was an important step towards scaling the chain to be able to handle more transactions per second. More pragmatic than many of the hard coding, computer science-orientation anti-Segwit2x crowd, Raymond told Business Insider:

Everyone was hoping the Segwit2x would address this [transaction cost and time] but unfortunately, the delay due to a lack of consensus on the mechanics has affected confidence. Confidence on transaction speed in Bitcoin has deteriorated significantly in recent months. As Bitcoin Cash enjoys much faster transaction speeds, we have started to see a recycling of positions out of Bitcoin into Bitcoin Cash as a consequence.

For now, it’s unclear which interpretation of the numbers holds most truth. However, what is curious is that today, many alt coins like ETH and NEO are in the red as Bitcoin Cash moves higher. This casts doubt over the thesis that Bitcoin’s decline is simply down to people selling their BTC positions because there’s no longer a free dividend up for grabs. The negative growth of the rest of the market combined with the speed that BCH is rising suggests something more monumental might be afoot.

The post Bitcoin Cash Up As Original Chain’s Price Recedes appeared first on NEWSBTC.

Source: Science of Crypto
Bitcoin Cash Up As Original Chain’s Price Recedes

How Blockchain Identity Trust Is Fostering New Applications in Healthcare

How Blockchain Identity Trust Is Fostering New Applications in Healthcare

How Blockchain Identity Trust Is Fostering New Applications in Healthcare

Can identity trust be integrated with blockchain technology? The answer to that question appears to be yes, according to a recently completed proof-of-concept study conducted by Peer Ledger, a Canadian blockchain company; SAFE-BioPharma Association, the organization managing the global SAFE-BioPharma digital identity management standard; and Synchronoss, a leading provider of standards-based digital identities.

This development is believed to have significant implications for the use of distributed electronic ledgers (i.e., blockchains) for medical, pharmaceutical and other health system applications.

The purpose of the study was to demonstrate that cyber identities that comply with the SAFE-BioPharma standard may, via Peer Ledger APIs, enable blockchain identities to be de-anonymized, thereby fulfilling a requirement for double-blind clinical trials, audits and responsible supply chains. Prior to the study, identities associated with distributed electronic ledgers were entirely anonymous.

“Identity trust” means that there is trust in each cyber identity, using a process that proves the individual’s identity before linking it to the cyber credential. In general terms, it means that the credential can be trusted to represent the vetted identity of the individual one is doing business with but has never met face-to-face. This is critically important to the pharma/life sciences space because of several factors, including deterrence of hackers seeking valuable patient records and intellectual property, as well as compliance with regulations protecting patient data.

These discoveries underscore the power of blockchain technology to disrupt traditional practices for drug discovery, patient engagement and monitoring, payments and participatory healthcare delivery. Here, the technology leverages its quality as a shared, synchronized, distributed ledger of transactions, fostering security and decreasing fraud by providing a permanent record of who accessed ledgers and what activities they engaged in.  

The proof of concept demonstrated that SAFE-BioPharma-compliant digital identities can be tied back to the blockchain to assure trust in the identity of each person engaged in the transaction. Transactions can be anonymous until the end of a clinical study and “chained back” to the proven identity of the user, if needed, for regulatory or clinical purposes. Alternatively, the identities associated with each block can be known throughout the process, such as in track-and-trace applications for the medical supply chain.

Blockchain technology’s use of a group-consensus algorithm can be used to catch intentional or inadvertent double spending of an asset. For example, an accounts-receivable blockchain application can provide “multiple eyes” to prevent double invoicing. Similarly, a counterfeit-catching purchasing blockchain application can prevent harmful substances and devices from entering the medical system.

Ultimately, for blockchain technology to reach its full potential in any sector, myriad systems must be interoperable. Currently, healthcare technologies rarely work in a highly synchronized way with one another, which is why pharmaceutical and other medical companies that already have powerful identity management tools are trialing a number of different blockchain-based applications.

Thus far, these apps have been unable to bridge to the systems pharma companies use to establish identity credentials for their personnel. This is the problem addressed in the proof of concept. Peer Ledger has therefore developed software that now maps a trusted identity, from the Synchronoss-implemented Verizon Universal Identity Services system to blockchain credentials.

“Every SAFE-BioPharma-compliant identity credential accurately represents the proven identity of the person using it,” explains Mollie Shields-Uehling, president and CEO of SAFE-BioPharma Association. “Teaming these credentials with anonymous blockchain ledger postings enables use cases critical for overall cybersecurity across healthcare and the life sciences.”

When asked about future applications of all of this for healthcare, Shields-Uehling and Dawn Jutla, CEO and founder of Peer Ledger, highlighted three major areas of blockchain intersection.

Blockchain and clinical trials: In order to co-partner in the discovery of cures, patients may give pharmaceutical companies direct access to their digitized healthcare records, thus improving both data used for research and the speed of patient treatment. Britain’s Chief Scientific Officer, Sir Mark Walport, has argued that the National Health Service, which provides healthcare for 65 million people, should use blockchain technology to improve such tasks as the sharing of health records.

Blockchain and data collection: Earlier this year, IBM Watson Health announced it would work with the FDA to develop a secure, efficient and scalable exchange of health data using blockchain technology. Oncology data will be the initial focus.

Blockchain and personalized precision medicine: Blockchain technology’s cryptography will secure economical home healthcare sensor feeds. Trusted identity will be important to ensure that the right test results are associated with the right patient.

The post How Blockchain Identity Trust Is Fostering New Applications in Healthcare appeared first on Bitcoin Magazine.

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The post How Blockchain Identity Trust Is Fostering New Applications in Healthcare appeared first on Your Daily Satoshi.

Source: Science of Crypto
How Blockchain Identity Trust Is Fostering New Applications in Healthcare

CoinIdol to Hold Public Trial of Scammers Who Stole $10 mln in Bitcoin

Bitcoin Press Release: Coinidol.com News Outlet invites every FinTech news outlet and every member of the crypto-community to join the jury in the case, where scammers have allegedly stolen about $10,000,000.

March 7, 2017 – Coinidol.com, the Blockchain News Outlet that has an audience in 174 countries, is taking the role of organizer of a public trial.

To learn more about the case and rules of the public trial please visit: https://coinidol.com/coinidol-to-hold-public-trial-of-razormind-scammers/

When asked if it is not a job for international police George Gor founder of CoinIdol responded,

“The answer is simple. Blockchain projects got used to self-regulation instead of state regulation. The order is not settled. The biggest project, based on Blockchain technology, known as Bitcoin, is solving every question with public polls. The crypto community votes on what to do about every problem associated with Bitcoin. They don’t attract any authority. Moreover, Bitcoin was created to avoid authorities. Bitcoin is not recognized as a currency in many countries of the world. There are lots of countries where cryptocurrencies are called candy wrappers. Is it right to ask the police to regulate cases, where these candy wrappers were stolen? How do you regulate international scam cases with Bitcoin not in a single country but in the whole world? Why is it not a job for the crypto community?”

CoinIdol.com wants to set a precedent, of how the community can solve legal issues that is not protected by the law. CoinIdol is aware that this very first trial is experimental. George continues,

“We are afraid of the results much more than anybody. We are not sure that this is the right way, but someone should dare to be first.”

The second reason for hosting the public trial is that news sites are the first system used by scammers during so-called false ICOs. Scammers and fraudsters ask them to write articles or display banners to advertise them. George Gor continues,

“Can the whole crypto world set a precedent, when we force scammers, who have stolen up to $10 mln in Bitcoin to pay $1,000 to charity? ”

The same scammers often turn to other media platforms, advertising and PR-agencies as well. Some of these platforms may agree to such jobs without properly checking all the details, and as a result, accidentally help fraudsters steal money from other people’s pockets. Johanna, COO and co-founder of Bitcoin PR Buzz comments,

“This raises two very important philosophical questions, both of which I battle on a weekly basis: Is it okay to scam the scammer and can an industry without law be lawful?”

Coinidol is asking every member of the crypto community to vote and answer these questions. As well as the honorary members, who we invited to be the leaders in this process:

– Charles Hoskinson, former CEO of Ethereum;
– Nathan Wosnack, Founder and President of Ubitquity LLC;
– Richard Kastelein, Founder of The-blockchain.com;
– Alex Matanovic, Co-Founder of Serbian Bitcoin Association
– Roger Ver, Bitcoin Jesus, Founder of Bitcoin.com;
– Rupert Hackett, Board Director at Australian Digital Currency Commerce Association;
– Bas Wisselink, Co-Founder at NXT Foundation;
– Eric Grill, CEO of CoinOutlet, a Bitcoin ATMs company;
– Stephen DeMeulenaere, Co-Founder of Coin Academy;
– Ivan Tikhonov, Founder of Bits.media.

Update 03/09/2017:

Nathan Wosnack, president of blockchain company Ubitquity, has chosen to resign.

“After careful consideration, and the feedback from colleagues along with my lawyer, I’ve been told I should withdraw from this public trial. It could result in legal ramifications along with bad publicity. I have heard from his friend that Jawad may seek legal action. Therefore, I’d like to ask to have my name removed from participating.”

The vote will end on March 17, 2017, GMT, and the results will be published on Monday, March 20, 2017, with comments from the jurors on why they have voted the way they did.

The voting formula is: the results of the community voting and honorary jury will be summed 50/50. We will take further action depending on the results of the voting. George finishes by saying,

“Please, support this initiative however possible with post, repost, like, comment or any other way. It doesn’t matter, if you have pros or cons, you should take part in this, if you are a member of the world crypto community. Cast your vote – don’t permit somebody else to decide for you”

To learn more and to vote please visit: https://coinidol.com/coinidol-to-hold-public-trial-of-razormind-scammers/

Media Contact Email: info@coinidol.com

Disclaimer: CoinIdol is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The views and opinions expressed in this article are those of the authors, the information does not constitute investment advice or an offer to invest.

 

The post CoinIdol to Hold Public Trial of Scammers Who Stole $10 mln in Bitcoin appeared first on Bitcoin PR Buzz.

Source: Bitcoin Press Releases
CoinIdol to Hold Public Trial of Scammers Who Stole mln in Bitcoin