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Ethereum May Be Regulated Like Bitcoin

Ethereum May Be Regulated Like Bitcoin

Ethereum is likely to be regulated by many governments in the upcoming months. Some countries including South Korea, China, and the US are already preparing to regulate Ethereum and its ICO market. This is because of the rising popularity of initial coin offerings (ICOs) and large amounts of capital being invested in them.

A Popular Ethereum May Mean a Regulated Ethereum

A project called EOS raised more than $335 million in total through their ICO campaigns as investors funded a project they knew practically nothing about.

EOS released a peculiar investment advice document entitled “Token Purchase Agreement” which claims that its native token EOS does not have a purpose or a use case. It went on to say that it should not be considered or used as a currency, investment, and/or commodity.

“As mentioned above, the EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, expressed or implied. Although EOS Tokens may be tradable, they are not an investment, currency, security, commodity, a swap on a currency, security, or commodity or any kind of financial instrument,” the document read.

If the EOS token does not have any uses, purpose, or functionalities then purchasing the token seen superfluous. The primary purpose of the token is be to fuel decentralized applications launched on top of the EOS protocol but it has not even started testing this on its network. In fact, it is planning to run its first heavy testing and security audit in Spring of 2018, as explained by its software roadmap on their Github repository. So why would they do this? It seems counter productive.

Popular ICOs need to be careful since their legal status is uncertain. In fact, EOS laid out guidelines in order to avoid running in conflict with the US SEC. The EOS development team also emphasized that investors residing in the US are not permitted to purchase or participate in the EOS ICO or crowdsale. The legality of ICOs in the US remains unclear.

This is true in other countries as well. Currently, China is considering regulating the Ethereum industry and the ICO market due to their popularity. On June 2, Chinese cryptocurrency news source revealed that the Chinese central bank, the People’s Bank of China (PBoC), is planning to regulate Ethereum and its ICO market in the upcoming months.

​Yao Qian, Deputy Director of the Science and Technology Department at PBoC, said that Ethereum is moving toward the right direction since it provides an autonomous smart contract-based infrastructure for decentralized applications and real business applications.

Qian explained that Ethereum is triggering a rapid development of blockchain-based applications in China and other regions. He said:

“You can open a real intelligent business application. Because of this, smart contract technology is in rapid development.”

On July 3, Park Yong-jin, representative of the ruling Democratic Party of South Korea, revealed that the government intends to regulate the Ethereum market by this year with the focus set on protecting investors and traders from bubble bursts, money laundering and tax evasion. The ICO market is likely be regulated along with Ethereum.

Source: Science of Crypto
Ethereum May Be Regulated Like Bitcoin

Coinbase Co-Founder: Ethereum Needs Off-Chain Scaling Solutions to Scale

Coinbase Co-Founder: Ethereum Needs Off-Chain Scaling Solutions to Scale

Fred Ehrsam, former Goldman Sachs trader and co-founder of the bln dollar Bitcoin startup Coinbase, laid out several scaling issues of Ethereum.

Fred Ehrsam, former Goldman Sachs trader and co-founder of the bln dollar Bitcoin startup Coinbase, laid out several scaling issues of Ethereum and the necessity of off-chain scaling solutions to scale the Ethereum network.

According to Ehrsam, seven major scaling solutions exist that are being developed by Ethereum developers, which will be launched by late 2018. The migration from Bitcoin’s proof of work consensus protocol to proof of stake protocol is the largest alteration to the Ethereum network Ethereum co-founder Vitalik Buterin has revealed to date.

Ethereum-Scaling_Cointelegraph

100x improvement

Although the Ethereum network prioritizes flexibility to provide an efficient ecosystem for decentralized applications (Dapps) and decentralized autonomous organizations (DAOs), Ehrsam noted that in order for Ethereum to support large-scale Dapps with one to 10 million users, it will need a scaling solution that will demonstrate a 100x improvement in the Ethereum protocol by 2018.

More to that, Facebook handles more than 175,000 requests per second to run applications within its network. Ehrsam explained that the Ethereum network is 25,000x off from being able to handle Facebook on-chain and scaling solutions are needed to support large-scale Dapps.

Not all decentralized apps can run on-chain. 

Ethereum is a decentralized Blockchain network like Bitcoin, and by nature, it is significantly harder to scale than centralized networks like Facebook. Hence, the seven above-mentioned scaling solutions must be deployed securely and efficiently to scale Ethereum proportionally. 

Ehrsam explained that the successful implementation of the seven scaling solutions including PoS would bring Ethereum closer to being able to handle billions of users. However, even then, he noted that it would be impractical and inefficient to run all decentralized applications on-chain. 

Similar to how Bitcoin developers are looking into two-layer solutions such as Lightning to handle small transactions and prevent the Bitcoin network from being clogged by microtransactions, Ehrsam explained that large apps can’t run solely on-chain.

Ehrsam wrote:

“These are hard computer science and game theory problems. Most of them have never been solved before. Estimating completion can be hard and can be far off. Large apps can’t run solely on-chain and likely never will. They need off-chain scaling solutions. While it’s tricky to make accurate estimates when combining scaling improvements, it’s conceivable we could see a 100x improvement by the end of 2018, which would allow a 1–10m user app.”

On June 19, Blockchain pioneer Nick Szabo explained that even the Bitcoin network couldn’t settle all of its transactions on-chain, on a premium global Blockchain. It needs a peripheral financial network that settles on top of the Bitcoin Blockchain to avoid Blockchain congestion and to scale more efficiently. 

Who is working on a scaling solution

Ethereum has an active development community that collaborates on the development of both on-chain and off-chain solutions. However, Ehrsam expressed his concerns over the limited number of developers working to implement necessary scaling solutions.

“These projects have very few people working on them — in most cases less than five people. The people currently working on them are exceptionally talented, so that is not at all a knock on their efforts,” wrote Ehrsam.

Source: Science of Crypto
Coinbase Co-Founder: Ethereum Needs Off-Chain Scaling Solutions to Scale

Bitcoin IRA Revolutionizes Retirement Industry with its Cryptocurrency Based Investment Options

Bitcoin Press Release: Bitcoin IRA is the only company offering cryptocurrency-based retirement investment portfolios with Bitcoin and Ethereum.

June 27, 2017, Los Angeles, USA — BitcoinIRA.com, the only company offering cryptocurrency-based retirement investment portfolios, has negotiated first-of-its-kind agreements with leading retirement and cryptocurrency companies to allow customers to invest in Bitcoin or Ethereum with their IRAs and 401ks.

Bitcoin IRA’s accomplishments with leading retirement custodian Kingdom Trust and leading cryptocurrency wallet BitGo™, represent a first for the industry. Together, this partnership creates a secured multi-signature encryption wallet from BitGo™ that enables Kingdom Trust to provide custodial services with a self-directed IRA.

The COO of Bitcoin IRA, Chris Kline, said,

“These are unique set-ups that no other retirement custodian is able to replicate. Our partnership with BitGo and our custom configuration with other partners provides a secure, one-of-a-kind investment opportunity for individuals that can’t be replicated in the marketplace.”

Bitcoin IRA has been featured in leading publications including the Wall Street Journal, QZ.com, Barron’s, Investopedia and popular Bitcoin publishers CoinDesk.com and CoinTelegraph.com.

In one of the articles, Drew Pierson from CoinDesk wrote,

“Cryptocurrency IRAs are no different than IRAs invested in more traditional options like stocks and bonds. The firm Bitcoin IRA is the only option for investors who wish to hold cryptocurrencies in their IRAs directly.”

Recently, Bitcoin IRA also launched Ethereum IRA, a similar investment product for Ethereum, the second-largest cryptocurrency. The company has been evaluating releasing new cryptocurrencies on its proprietary SDIRA platform, along with new features being driven by demand from existing stakeholders and clients.

About Bitcoin IRA

Bitcoin IRA is the only Bitcoin-based retirement investment portfolio that allows people to invest with actual bitcoins for their IRA or 401(k). The platform works with leading fintech professionals to provide secure, high-quality Bitcoin investments.

Bitcoin IRA offers both traditional and Roth IRA options, which offer the same tax incentives as regular IRAs and 401(k)s. The company differentiates itself from other bitcoin investment products in multiple ways. Unlike Bitcoin ETFs and investment funds, Bitcoin IRA offers an opportunity for individuals to invest in real bitcoin at a much lower fee. In addition, investors keep total control over their Bitcoin deposits, with no holding fees and the ability to withdraw once the term is over.

Learn more about Bitcoin IRA and Ethereum IRA at – BitcoinIRA.com
Bitcoin IRA on CoinDesk – http://www.coindesk.com/traditional-iras-coming-world-bitcoin/

Media Contact

Contact Name: Kristy Velazquez
Contact Email: kristy@bitcoinira.com
Location: Los Angeles, USA
Phone: +1.877.936.7175

Bitcoin IRA 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 FDIC and other consumer protections. This press release is for informational purposes only.

 

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 5 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.

The post Bitcoin IRA Revolutionizes Retirement Industry with its Cryptocurrency Based Investment Options appeared first on Bitcoin PR Buzz.

Source: Bitcoin Press Releases
Bitcoin IRA Revolutionizes Retirement Industry with its Cryptocurrency Based Investment Options

US Navy Interested in Integrating Blockchain Technology for More Secure Manufacturing Systems

US Navy Interested in Integrating Blockchain Technology for More Secure Manufacturing Systems

US Navy express its interest in integrating Blockchain technology in their 3D printing and manufacturing systems for more secured process

The US Navy’s Innovation department recently announced its interest in using Blockchain technology for their manufacturing systems.

In the announcement, they specifically mentioned their interest to add Blockchain technology to their 3D printing in order to help securely transfer data through the manufacturing process.

US Navy plans to use Blockchain technology

According to Cryptologic Warfare Officer & Lieutenant Jonathan McCarter, the Naval Innovation Advisory Council will spearhead the testing of the Blockchain technology integration into their system. They will be doing pilot tests and experiments on proof of concepts, data sharing, and securing digital designs throughout the Navy’s network of information. They also plan on creating a data sharing layer among the 3D printing sites using Blockchain technology.

Blockchain being used in government

This is just the start of the spread of Blockchain technology in the US government. It is slowly being accepted by the public, so it is not a surprise that the government is slowing integrating it in their operations.

In fact, there are already a few government sectors that have taken an interest in Blockchain technology. Last May, Department of Homeland Security Science and Technology Directorate awarded a total sum of $9.7 mln to several small business for technology research on Blockchain usage. Also, the US government is now seeking Blockchain technology solutions for contract bidding

Source: Science of Crypto
US Navy Interested in Integrating Blockchain Technology for More Secure Manufacturing Systems

Ambisafe Announces Orderbook – an Innovative Trading Platform for Ethereum-based ICO Tokens

Ambisafe, an Ethereum asset management platform has just announced its newest development – Orderbook, a trading platform for Ethereum-based ICO tokens.

Ambisafe has helped to launch successful ICOs for several blockchain companies, particularly Polybius, TaaS, and Chronobank. The Polybius ICO has so far raised over $21.2 million dollars, whilst the TaaS ICO has raised over $7.5 million dollars with over 3,900 investors.

Orderbook, a new venture organized by the team behind Ambisafe, is a trading platform for Ethereum-based ICO tokens. Through this trading platform, ICO participants can take advantage of cutting edge security, in which all critical operations are executed via Ethereum smart contracts, and all assets will be held “on-chain”.

All asset information will be available on the platform including dividend history, trading protocols, transaction volumes and analytics from trusted cryptocurrency sources.

Furthermore, The Orderbook exchange platform will streamline operations and ensure transparency for both ICO founders and traders. Since the platform is implemented as a set of smart contracts, all trade history will be available for audit to ensure that there are no fraudulent manipulations. The unique trading interface will contain additional information about companies and provide the ability to receive dividends directly for traders, thus creating an efficient, transparent and versatile environment for the cryptocurrency industry.

To learn more about Orderbook:
● Website: https://orderbook.io/
● Facebook: https://www.facebook.com/orderbookio
● Twitter: https://twitter.com/orderbook_io
● Telegram: https://t.me/joinchat/AAAAAA2i5AUMn3RpatYG5Q

Please note that Orderbook will be launched as alpha version which may include minor bugs and non-critical issues.

Media Contactmedia@orderbook.io

 

Ambisafe 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 FDIC and other consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

The post Ambisafe Announces Orderbook – an Innovative Trading Platform for Ethereum-based ICO Tokens appeared first on Bitcoin PR Buzz.

Source: Bitcoin Press Releases
Ambisafe Announces Orderbook – an Innovative Trading Platform for Ethereum-based ICO Tokens

Ethereum Surges 314% as Bitcoin IRA delivers stellar Self Directed IRA Returns to Clients

Ethereum is $200, and Bitcoin is over $2,300. Both of these digital currencies started small, offering investors a chance at millions for less than $1.

LOS ANGELES, May 30, 2017 – In just 32 days since the launch of Ethereum IRA,​ the digital currency also known as Ether rose in value from $48 to its current price of $202, delivering investors a whopping 314% return. Ethereum has peaked the interest of Fortune 500 companies and is considered by many investors and traders to be the hottest altcoin on the market right now.

“Our clients are ahead of the curve; they are early adopters eyeing a massive opportunity as Ethereum and others become the digitization of efficiency in our common lives”  Chris Kline, COO of Bitcoin IRA

The weekend rise in Ethereum price may have moved lock in step with key partnerships and developments announced over the weekend. Below are the most common reasons that investors cite to justify a $1,000 Ethereum coin.

The People’s Republic of Chain wakes up to Ethereum

China’s leading bitcoin and altcoin exchange, Huobi announced it would offer Ethereum on Wednesday, May 31st, 2017. Huobi is one of the largest exchange players in China, if not the world. If history is any guide, one just needs to look back to when Litecoin started trading on Coinbase, almost immediately it’s value skyrocketed.

Ethereum and the Trillion dollar Freelancer market

eDEV.one, a remote worker wage payment, and job platform announced its plans to issue a part of its token sale on Danish exchange OpenLedger. Freelancers now makeup 35% of U.S. workers and collectively earned $1 trillion in the past year, according to the Freelancers Union, based in New York City, and the large freelancing platform Upwork, headquartered in Silicon Valley.

Toyota and MIT Partner to accelerate self-driving vehicles

Toyota Motor company has announced a tie-up with MIT to utilize blockchain​ and distributed ledger technology to speed up the development of autonomous driving technology.

Storj Labs raises millions to disrupt Dropbox

The leading decentralized cloud storage provider has concluded a token sale for its Ethereum-based application token. The platform met its goal of $30 million in just seven days.

The fact that Ethereum continues to be adopted by mainstream exchanges, companies, and initiatives signify its long-term value.

In Bitcoin IRA’s first year since launch, the company’s innovative retirement platform has was featured in the Wall Street Journal, Barron’s and Investopedia for making Bitcoin an easy option for retirement investing. It has also expanded its cryptocurrency offering by adding a secure way to invest in Ethereum as well as Bitcoin.

About Bitcoin IRA

Bitcoin IRA is the only Bitcoin-based retirement investment portfolio that allows people to invest with actual bitcoins and ethereum for their IRA or 401(k). The platform works with leading fintech professionals to provide secure, high-quality Bitcoin investments.

Bitcoin IRA offers both traditional and Roth IRA options​, which offer the same tax incentives as regular IRAs and 401(k)s. The company differentiates itself from other bitcoin and ethereum investment products in multiple ways. Unlike bitcoin and ethereum ETFs and investment funds, Bitcoin IRA offers an opportunity for individuals to invest in real bitcoin or ethereum at a much lower fee. Also, investors keep total control over their digital wallets, with no holding costs and the ability to withdraw once the term is over.

Learn more about Bitcoin IRA and Ethereum IRA athttps://bitcoinira.com/

Media Contact

Contact Name: Amith Nirgunarthy
Contact Email:amith@bitcoinira.com
Location: Los Angeles, USA
Phone: +1.877.936.7175

Bitcoin IRA 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 FDIC and other consumer protections. This press release is for informational purposes only.

 

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 5 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.

The post Ethereum Surges 314% as Bitcoin IRA delivers stellar Self Directed IRA Returns to Clients appeared first on Bitcoin PR Buzz.

Source: Bitcoin Press Releases
Ethereum Surges 314% as Bitcoin IRA delivers stellar Self Directed IRA Returns to Clients

The Bank of Canada Just Joined An Alliance to Develop Ethereum

Click here to view original web page at motherboard.vice.com

On Monday, the Enterprise Ethereum Alliance announced 86 new members that will work together to develop business applications on the Ethereum blockchain, including Toyota, Deloitte, Samsung SDS, and the National Bank of Canada.

Ethereum is an alternative to bitcoin, which still dominates the cryptocurrency world. But while bitcoin has become a haven for speculators trying to win big by trading coins, Ethereum’s promise is that its blockchain—the public ledger that records all transactions—is chiefly a platform for developing apps, powered by economic incentives. One often-floated use case for blockchains in the financial industry is as a settlement layer to instantly close transactions without middlemen.

Read More: The Bank of Canada Slipped the Konami Code Into a Bank Note Announcement

The alliance, which was founded in February of this year, is a global foundation with more than 100 members which include financial institutions like JP Morgan, Credit Suisse, and Banco Santander. Its goal is to develop business applications with Ethereum. Membership in the alliance grants organizations the ability to participate in meetings and events, as well as to make contributions to technical documents and white papers.

This isn’t the first time the Bank of Canada has dabbled in cryptocurrencies. The bank ran a pilot using an in-house digital currency to conduct interbank transactions on a blockchain in 2016, snubbing the existing bitcoin currency. However, a recent staff paper proposed ways to regulate bitcoin. Membership in the alliance is the first time the bank has indicated that it wants to have a hand in developing an existing digital currency platform itself.

Neither the National Bank of Canada nor the Enterprise Ethereum Alliance were available for comment at the time of publication.

Interest in Ethereum is growing as its boy genius creator, 23-year-old Vitalik Buterin, continues to travel the world and spread its gospel. Ethereum still might not be as valuable as bitcoin (one coin is worth over $2,000 USD at the moment, while one denomination of Ethereum, called ether, is worth $163), but it could be a whole lot more useful for banks. It was designed from the ground up to accommodate applications—called dapps, or “decentralized apps”—while bitcoin is still just a currency to many.

Joining the EEA is one more indication that the Bank of Canada is open to new technologies in the finance industry, but perhaps even more significantly, it appears to have chosen Ethereum as its horse in the race over bitcoin.

Subscribe to Science Solved It, Motherboard’s new show about the greatest mysteries that were solved by science.

Source: Science of Crypto
The Bank of Canada Just Joined An Alliance to Develop Ethereum

Worlds collide: JPM works with team behind anonymous crypto Zcash

Worlds collide: JPM works with team behind anonymous crypto Zcash

Click here to view original web page at www.americanbanker.com

Blockchains make strange bedfellows.

For years, Jamie Dimon has derided digital currencies. Now, his company has teamed up with the creators of one of the most prominent “altcoins” to build privacy features for the bank’s blockchain platform.

JPMorgan Chase’s partnership with Zerocoin Electronic Coin Co., announced Monday, is perhaps the most surprising alliance yet as traditional financial institutions co-opt a technology originally developed to route around them.

ZECC’s founder, Zooko Wilcox, was part of the 1990s cypherpunk movement, which sought to defend individual privacy through strong cryptography. Last year his firm released Zcash, a cryptocurrency designed to be more anonymous than bitcoin.

Just that phrase, “more anonymous than bitcoin,” might send shivers up the spines of some bank compliance officers, to say nothing of regulators. So, just to be clear: JPMorgan isn’t using Zcash. “This is solely a technology transfer agreement,” Wilcox said.

Instead, his team will use the same cryptographic techniques to add a “security layer” to Quorum, the system JPMorgan is developing to run smart contracts.

In their most basic form, blockchains allow all participants in a network to see who has done what. But that transparency has been a turn-off for financial institutions, which don’t want to tip their hands to competitors, or reveal confidential client data.

“Existing smart contract systems on replicated shared ledgers are unable to provide data privacy — transactions and smart contract state data are exposed in the clear on the replicated shared ledger,” JPMorgan said in a white paper for Quorum published in November.

Quorum was designed so that a smart contract would be visible only to the parties, not the whole network. But that, by itself, precludes the contracts from involving assets that could later be transferred to other participants in the network. “You can’t prove to Charlie that Bob is the legitimate owner of an asset while concealing that Alice was the previous legitimate owner,” Wilcox said. (“Alice and Bob” are regular characters in the hypothetical examples given by cryptographers.)

The Zcash developers plan to enable Quorum smart contracts to trade transferable, resellable tokens, through a cryptographic method called zero-knowledge proofs. These allow someone to prove that a statement is true without conveying any other information.

In the Zcash currency, for example, zero-knowledge proofs provide assurance that users are only spending money that they have without revealing on the public ledger how much they have received from or sent to others. Participants can selectively decrypt such details about their own transactions, however, making it possible to comply with audits or court orders. Otherwise, the ledger is just a list of timestamped transactions, with the senders, recipients and amounts obscured.

Applying that technology to Quorum would allow tokens (representing real-world financial assets, say, shares in Apple) to circulate throughout the network, rather than be confined to bilateral agreements between banks, without sacrificing privacy.

“By adding the zero-knowledge security layer into Quorum, we are able to explore how state of the art cryptographic privacy technology will enhance the next generation of financial services applications,” Suresh Shetty, an executive director and lead architect for JPMorgan’s Blockchain Center of Excellence, said in a press release Monday.

Dimon has famously predicted that decentralized currencies like bitcoin — which let anyone with an internet connection send money anywhere in the world without the permission of an intermediary — are doomed. According to published reports, his bank has expressly forbidden banks it does business with to work with digital currency exchanges.

“Virtual currency, where it’s called a bitcoin vs. a U.S. dollar, that’s going to be stopped,” Dimon said in 2015. “No government will ever support a virtual currency that goes around borders and doesn’t have the same controls. It’s not going to happen.”

Bitcoin vending machine next to a Chase branch in Austin, Texas, photographed March 14, 2015
Together at last?

Around that time, JPMorgan and other banks had begun to investigate the possibilities for their business of blockchain technology, which was originally developed to prevent double-spending of bitcoins. One advanced use case is smart contracts, which theoretically can cut costs in the financial system by automating much of the work done by lawyers, compliance officers, syndication desks, and others.

“Smart contracts on a replicated, shared ledger hold the promise of improving efficiency and lowering costs compared with existing enterprise systems based on duplicated business logic and consensus by reconciliation,” the bank’s Quorum white paper said.

JPMorgan participated in several of the industry alliances that are working to develop blockchain solutions for financial services, though it recently quit the R3 consortium. The bank decided to model Quorum on another open-source platform, the bitcoin rival Ethereum.

While Zcash started as a “fork,” or modified version, of bitcoin, Wilcox’s company has joined the Enterprise Ethereum Alliance, of which JPMorgan is also a member.

Wilcox said the Zcash currency has served as a showcase of sorts for the technology his company has been pitching to enterprises.

“We can point to the thing running live in the wild as proof that it works and we can deliver,” he said.

Source: Science of Crypto
Worlds collide: JPM works with team behind anonymous crypto Zcash

Three Services That Aim to Create Bitcoin Professionals and Experts

Three Services That Aim to Create Bitcoin Professionals and Experts

Click here to view original web page at news.bitcoin.com

professionals
Forum

Bitcoin can be a very technical subject, and oftentimes people have to find various resources online to educate themselves. However, there are a few organizations that instruct cryptocurrency enthusiasts through training and curriculum in order to edify the growing field of bitcoin professionals.

Also read: The Case for Using mBTC Over BTC Denominations

Education and Professional Expertise Helps the Growing Bitcoin Economy Flourish

As the bitcoin economy grows, there are many people looking to learn about the bitcoin protocol and the growing cryptocurrency ecosystem. A leading-edge network of professionals that understand the technology is needed to bolster the innovative technology into the future. In 2017, there are few ways an individual can become a certified bitcoin professional to advance their knowledge and careers.

Three Online Academic Bitcoin Courses

The Cryptocurrency Certification Consortium

Three Services That Aim to Create Bitcoin Professionals and Experts

One educational program called the Cryptocurrency Certification Consortium (C4) teaches students how to be certified bitcoin specialists. C4 has three types of courses that enable people to become either a Certified Bitcoin Professional (CBP), a Certified Bitcoin Expert, and a Certified Ethereum Developer.

A graduating CBP claims to give an individual a significant grasp at understanding the bitcoin protocol, transactions, and network operation. “CBPs are able to apply Bitcoin technology to their professional area of expertise and understand privacy aspects, double-spending, and other issues that relate to the currency,” explains the educational consortium. The cost to become a CBP involves two years of study at the cost of $95 for the course and a $30 renewal fee.

A CBX gives an individual “expert-level knowledge” about bitcoin, says the consortium. C4 also claims the certification gives a person the ability to develop blockchain applications as well. “CBXes understand how peers communicate on the Bitcoin network, how transactions are crafted at the byte level and how Bitcoin scripts can be written to customize the behavior of transactions,” C4 details. This course is three years long but is not yet available to students.

The consortium is backed by a board of directors which include Andreas M. Antonopoulos, Vitalik Buterin, and Michael Perklin. Furthermore, C4 has well-known advisers such as Ethereum co-founder Charles Hoskinson, Director of the Bitcoin Education Project, Peter Todd, Bitcoin Core Developer, and Steve Dakh, author of Kryptokit and Rushwallet.

Digital Currency Council

Three Services That Aim to Create Bitcoin Professionals and Experts

The Digital Currency Council (DCC) was created in 2014 in New York by David Berger, the school’s founder and CEO. DCC claims to have over 1500 members from 90 countries worldwide utilizing the organization’s digital currency training, and certification. The group calls itself an “association of professionals in the digital currency economy.”

The DCC Professional Certification Training Program is shorter than the two-year consortium course with only a seven-hour online program. However, the course is far more expensive costing $299 for students taking the final exam. The DCC advisory faculty covers the six sections called “core competencies” which include cryptocurrency technical underpinnings, monetary implications, practical use, bitcoin’s ecosystem, accounting, and legal subjects. DCC also offers a self-assessment test to see if you qualify for the certification training program. The school is also backed by Barry Silbert’s Digital Currency Group and the Silicon Valley accelerator 500 Startups.

“The DCC Certification, like other professional certifications, allows us to hold professionals who are advising clients to a higher standard, and provide a benchmark for evaluating skill and professional value,” Barry Silbert, CEO of the Digital Currency Group explains on the DCC website.

Coursera: Bitcoin and Cryptocurrency Technologies

Three Services That Aim to Create Bitcoin Professionals and Experts

Princeton’s Coursera computer science class called “Bitcoin and Cryptocurrency Technologies” is a free course from Princeton University. Assistant Professor Arvind Narayanan instructs the class on a variety of lessons that cover the innovative technology at a “technical level.” The next class begins on May 15 and begins to discuss cryptographic building blocks and introduces the concept of cryptocurrency.

“After this course, you’ll know everything you need to be able to separate fact from fiction when reading claims about Bitcoin and other cryptocurrencies,” explains the Princeton Coursera website. “You’ll have the conceptual foundations you need to engineer secure software that interacts with the Bitcoin network. And you’ll be able to integrate ideas from Bitcoin in your own projects.”

The Coursera class is eleven weeks long discussing subjects like decentralization, the mechanics of bitcoin, regulation, mining, altcoins, and more. Every week the course offers an interactive textbook, pre-recorded videos, quizzes, and projects. Furthermore, students can connect with other peers and converse about course material.

Furthering Bitcoin Careers and Creating Crypto-Professionals

There are other ‘certification style’ digital currency education programs online but do some research on the course and organization before registering. Teaching a broader audience of professionals is a good idea to continue progressing the new digital economy.

These types of certificate programs may even further an individual’s career, and it’s also possible to learn at home for free. Besides Coursera’s free course, there is a boatload of information on bitcoin and its technical aspects. However, people often enjoy a class setting and a certificate from an organization from accredited luminaries in the bitcoin space could go a long way.

What do you think about these certification programs and courses covering the cryptocurrency environment? Let us know in the comments below.

Images via Bitcoin.com, C4, DCC, and Coursera websites.

Bitcoin.com’s own store features a wide range of interesting Bitcoin-related products. Looking for a hardware wallet? We got ‘em. Want a good-looking t-shirt? It’s there. Want to gift a nice Bitcoin tea cup? Go shopping.

Source: Science of Crypto
Three Services That Aim to Create Bitcoin Professionals and Experts

Deloitte Exec Departs to Launch Tokenized Blockchain Research Lab

Deloitte Exec Departs to Launch Tokenized Blockchain Research Lab

Click here to view original web page at www.coindesk.com

Iliana Oris Valiente

Back when Iliana Oris Valiente first started pitching her colleagues at Deloitte on the possible benefits of bitcoin, she was cautioned by a senior level executive that she might be doing damage to her reputation.

Now, one of the co-founders of Deloitte‘s influential Rubix blockchain initiative is well-know for helping push the professional services firm to the forefront of distributed ledger consulting and development. That is, until last Friday, when she completed her final day at the firm.

Revealed today exclusively to CoinDesk, Valiente is now launching two startups in the research and development space.

The first, is a an open-source, crowdfunded, crowdsourced applied research and development hub. The second is an educational enterprise designed to shorten the learning curve for recent computer science grads seeking to make meaningful contributions to the blockchain industry.

The co-founder of Rubix by Deloitte, and former strategy and execution lead, told CoinDesk she views her new customers as the very same people who will help her pull off the endeavor: open-source researchers, startup employees and corporate executives.

Valiente said:

“This has value to all those groups of stakeholders, whether you’re talking about the research and development hub or the educational initiative, and I want to continue playing that role as a translator and a liaison between these various communities.”

First revealed today as part of her trip to CoinDesk’s Consensus 2017 conference, the research and development hub called ColliderX takes its name from the CERN particle collider in Switzerland, which leverages researchers, scientists and academics to make technological discoveries.

Borne from her own personal experience encountering research questions, the newly launched Toronto non-profit organization gathers difficult to answer questions from around the industry and then lets contributors, backers, and a scientific selection committee prioritize the order they are addressed.

Crypto-tokens minted through an unspecified platform will then be used to rank the research questions in the order they will be answered based on the resources available, though she was careful to point out she doesn’t think the “governance tokens” as she called them will accrue value “as soon as it hits an exchange”.

A new business model

Initially, Valiente will encourage participants to select topics based on their status as foundational to the ability to answer other questions, and on them having a “smallish” scope that could lead to publishable results by a team of two researchers in a matter of months.

Currently, she has collected 25 topics provided by industry developers, including the potential roll that artificial intelligence could play to figure out upper and lower bounds for smart contracts performance, leading to what she termed the creation of “crowd-trained smart contracts” that self-improve.

Among the list of researchers who have already submitted topics are Mir Adnan Ali of CG Blockchain who wants to explore how the augmented reality space can be tied into blockchain and Steve Mann, an early innovator in wearable augmented reality devices and a former professor at MIT.

ColliderX now counts among its partners the Association for Computing Machinery, which administers the Turing prize, representatives from the University of Waterloo, the University of Toronto, York University and MIT, with advisory work contributed by MME the law firm that helped incorporate the Ethereum Foundation.

ACM chair of the Practitioners Board Conference Committee, Toufi Saliba, said:

“We feel their intersection of effort with our initiative of colliding AI experts with Blockchain experts is quiet fascinating. We couldn’t wish for a better timing in running this and we will be looking forward working closely.”

Blockchain learning curve

While the first half of Valiente’s post-Deloitte career is aimed at answering questions the professionals have, the second half of her work aims at questions of a different sort.

By the time Valiente left Rubix, she said her team was spending a significant amount of time on-boarding recently graduated new hires who had not been adequately prepared for a career in blockchain, something she hopes to change by working closely with schools and universities.

Initially, she said she’s starting with a handful of universities at which she has contacts, working with them to built out their curriculum to better prepare graduating students for the blockchain work force.

As jobs in the blockchain space become increasingly in demand, Valiente believes her second project has as much a chance to go global as the research and development itself.

She concluded:

“Ideally, the fundamentals would be covered in training programs and schools before candidates start full time work. There’s plenty of on the job learning that will still need to happen once the theory ends and the practice begins.”

Image of Iliana Oris Valiente courtesy of subject

Source: Science of Crypto
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