Tag - Blockchain

Israel’s iCapital Invests In Blockchain Mobile Mining System Enecuum

Israel’s iCapital Invests In Blockchain Mobile Mining System Enecuum

iCapital, an Israel-based fund management platform, has joined hands with Enecuum to fund the Hong Kong-based firm. In a statement, Enecuum, which is a blockchain platform offering mobile mining system, indicated that the two had reached a memorandum of understanding (MoU). The MoU has established cooperation between the two for long-term purposes. The agreement comes even as the country is not against either the blockchain or the virtual currency sector as a whole. The country is also not worried about the status report of the two emerging fintech instruments.

Due Diligence

The Israel firm indicated that it struck the MoU only after completing due diligence by its experts on the Enecuum project. Incidentally, the project focused on three key parameters. This included business model, technology, team and a number of other major criteria, cryptovest.com reported. Once the process is completed, then the fund management company has taken a decision to invest in the mobile mining system. iCapital GM Agada Nameri disclosed that the company has started to invest in blockchain three years back.

The GM indicated that the company had identified the innovation of the blockchain technology, which has immense potential to revolutionize. This apart, it could also disrupt a number of aspects of day-to-day lives. Nameri indicated that iCapital is obsessive with projects so that it is confident of adding value to not only the teams but also extending their supporting efforts. The agreement between the two enables Shelly Hod Moyal from iCapital to be a founding partner of Enecuum.

Apart from that, Moyal is an iAngels founding partner. The company is engaged in VC, as well as, investment platform in Israel for high-tech equity deals managing $140 million worth of assets. The GM pointed out that the firm enjoys a long experience in monitoring several projects throughout the world mainly due to its investment platform. At the same time, they were impressed especially with Enecuum because of the way it settles blockchain’s issues.

This included speed, security, and scalability through the application of a hybrid system that involves mobile mining apart from an exclusive data structure. This will develop a synergy among the conventional blockchains and directed acyclic graphs. The GM’s excitement is more about the team’s network strength, vision, and technology. Despite some skepticism about blockchain technology, enterprises continue to focus on it since it is termed as the most disruptive in a decade.

Emerging Asset Class

Mikhail Saifullin, co-founder, and CEO of Enecuum thinks that blockchain is a new and emerging asset class. He also believes that the sector is gaining traction quickly among individual investors and fund managers throughout the globe as they look forward to expanding their portfolios.

Saiullin reacted to express deep gratitude for the high level of appreciation from iCapial apart from the trust reposed on its product. Interestingly, Mike Novogratz, a popular hedge fund manager, has predicted earlier about the increasing focus towards blockchain projects. He foresees a group of institutional investors entering the crypto, which will make the market little more stable. Novogratz joined the virtual currency sector in 2015, and since then he is a big supporter of cryptocurrencies.

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2Key Blockchain to Revolutionize Share Links

2Key Blockchain to Revolutionize Share Links

2Key blockchain tech firm is all set to revolutionize sharing of links, as well as, online recommendations. This would mean that Facebook, which has in-built feature for recommendation functionality, will be left behind. The social media’s functionality was used as a standard status update by several to seek recommendations in the last two years. Though the feature was termed as a useful one, there were some ways to improve the functionality. The tech firm is only trying to address those issues.

Two Elements

As far as 2Key is concerned, it has two elements, which are the platform and the protocol, which is a multi-step tracking technology. The advantage of it is that it could follow the sharing activities performed through the normal HTTP link, ambcrypto.com reported. This would mean that the protocol will store precise details of who shared the link, re-shared or re-shared again. Aside from that, it will also store details into which post it was shared.

This type of system is known as a multi-step tracking system and is aligned with blockchain associated smart contracts. As a result, it will form the 2Key platform foundation. The company clarified that these contacts are programmed in such a way that it will reward each participant person in the sharing chain. The tech firm is creating the first decentralized referral network with the help of integrating those elements. The focus is on consultants, freelancers, and small businesses though anyone could receive or share online referrals in the normal course.

For starting the sharing campaign, a user should have a stake in a specific number of 2Key system tokens, which is known as 2KEY. Such user creates a target of a specific table, like hiring or openings, with the hope of reaching the target with the link. For instance, a critic of the restaurant could share with someone else’s campaign through 2Key contacts network and who might be looking for recommendations of a restaurant in the specific area.

Similarly, some other person sees contact with another’s and shares the post with his or her own network. This type of sharing will enable users to make several things. For instance, a user could use the link for table booking in a restaurant. For its part, the company will recognize that the link is used successfully to book a table in a restaurant or any other form. This will be followed by a sharing of the 2KEY tokens.

Algorithmic Game Theory

2Key is adopting a system of algorithmic game theory that will ensure that the referrals and links shared are of high quality and spam free. As a result, this type of feed will earn a reputation-based weighting system. This is meant to penalize any users who share links repeatedly without any conversion.

The company’s platform and protocol are Ethereum-based in which the protocol is known as the Action Referral Contract (ARC), which is a normal HTTP link in Web 2.0 whereas it is an ERC20 token in Web 3.0. This will follow the digital whereabouts. 2KEY, which is an independent ERC 20 tokens could be used to buy services. There will be a restricted supply of 2KEY tokens with 35 percent of them will be used to launch the ecosystem.

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Blockchain Arrives in India, Hyderabad to get first incubation district

Blockchain Arrives in India, Hyderabad to get first incubation district

In news that the technology-adopting community in India would welcome, the government of Telangana has announced a new blockchain district for the inclusive purpose of incubating startups in Hyderabad. The government will be partnered by private technology major Tech Mahindra.

The MoU was signed between the officials of the technology company and government officials bringing in the new wave of technology adoption in the country.

Infrastructure

The immediate consideration for the two parties to establish the center is to create the infrastructure which would house these startups. The government’s contribution with this regard is to offer the real estate, appropriate policies as well as tax rebates in order to push the incubation center into existence.

According to the State’s IT minister, KTRama Rao “We envision to set a benchmark in providing blockchain technology solutions and platforms across industries.”

The establishment of such a district is considered as a double-win for the country as it will set up the ‘talent hub’ which will eventually be part of the bigger global activities. This will be possible by way of blockchain innovations and the setting up of different types of organizations and companies. The project is called as Eleven 01 protocol for blockchain platform with respect to the individual development of startups and can be used by millions of individuals.

The aim of utilizing such as protocol is to eliminate the need for blockchain developers so as to allow the entry of new and innovative technologies for efficient app-based applications. The purpose of such an incubation center is to create the necessary depth of talent and encourage positive activities among the members.

The move by the state of Telangana in developing blockchain solutions by way of digitally reworking their land registries to favor transparency as well reduction in forgeries that are commonplace to documents of this stature is the first step towards such transformation.

Blockchain technology for everyday use

The technology scenario in India is one of the most conducive in the world for the adoption of cryptocurrencies as well as blockchain technologies for everyday use. This is because much of the country is computer literate and a major segment of the population is aged between 24-48 making it positively poised towards quick assimilation of technology and its adoption.

The country has had its own issues by way of demonetization in 2016 and has experienced the issues related to non-transparency in currency circulation besides wide-spread corruption in the polity. Hence, the use of blockchain technology is seen as an exciting new ‘lethal weapon’ for the young brigade who want to change the current systems of nepotism and money-can-buy everything philosophy ruining the growth of the country.

Thus, there is anticipation among the users of technology solutions that blockchain and its applications will prove to be a turning point in the history of the nation.

Perhaps the first step in this direction has become possible  with the arrival of the new district in Hyderabad dedicated for the development of this technology which is considered to have the Midas touch in rendering freedom to the oppressed and the ‘middle-class’ of Indian economics.

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