With Saturday’s events: In China, the patent was filed on the decision of scalability issues in the Blockchain; Austria introduces the concept of regulation on crypto currency in the EU; Four-year Bitmain ahead dwudziestoczteroletnią Nvidię; the logistics Sector in Germany will be improved thanks to the technology of the Blockchain; the percentage of cases of money laundering through crypto currency can be measured; the Capitalization of crypto currency is falling.
• In China, the patent was filed on the decision of scalability issues in the Blockchain:
Commercial Bank of China, which should not be confused with the Central Bank of China, has filed a patent to the Chinese State intellectual property Office (SIPO) on the problem scale of Blockchain technology, we learn from a local source information tech.ifeng.
The Bank first filed a patent application in day 28. September 2017, and Zhao Shuxiang was listed as the inventor of the patent, but SIPO has published information about the patent 23. February 2018. The patent includes a method of data compression of the Blockchain, which is aimed at solving the problem of storage space for new blocks without compromising the ability to track and immutability.
As stated in the patent, the amount of data stored in the new blocks will be reduced as follows: when a full-sized node receives a request compression from the client, compresses the data transaction consisting of several blocks, one block of data, which was then temporarily located in another storage system. These data will then be performed using a hash function with hash value of the block data, and compression agreement will reflect the relationship between the compressed block, the data block and event compression, where everything will be recorded in the Blockchain.
While China is one of the strictest countries in the world from the point of view of regulation on crypto currencies, having a ban for pre-orders money (ICO) and the use of foreign exchanges in the country, South Korean Minister of Finance said this month about the need for cooperation with China in the field of Blockchain during a meeting with the Governor of the people’s Bank of China.
Earlier this week, the Chinese computer company Lenovo has also filed a patent based on the Blockchain to check the integrity of physical documents, but in the U. S. Patent and Trademark Office, USPTO), but not in the Chinese SIPO.
In Austria shows the concept of regulation on crypto currencies in the EU:
The Minister of Finance of Austria, Hartwig Löger, is considering the introduction of rules on crypto currency based on the current rules of gold trading and derivative instruments, to prevent the use of methods of money laundering, told Bloomberg on Friday, 23. Feb.
Löger spoke with the Portuguese Minister of Finance Mario Centeno about his plans against the Federal laws of cryptography based on, as follows from yesterday’s messages and the local information centre, Wien.at. During a meeting with Centeno, Löger discussed the action plan for the European Commission in Brussels in March to form a working group to accept the EU proposals on how to combat fraud in kryptowalutach. Löger said:
The case in Austria enough that I took action in this area.
– according to Vienna.at, referring to the newly opened pyramid Optioment Bitcoin.
Löger introduced the concept of Happy Fintech Regulation, which is to be held in March, where experts kryptograficzni will check the rules, cryptographic will cooperate with the EU institutions.
According to Bloomberg, Löger said in a statement:
Kryptowaluty becoming increasingly important in the fight against money laundering and the financing of terrorism. This is an important aspect of change that we support. We need more trust and more security.
Under the plan Lögera investors kryptograficzni, reported to the financial intelligence unit agreements worth more than 12.300 dollars, and trading platform for crypto currency was under the auspices of the Bureau of the Austrian Financial Market (FMA). In addition, the initial rate of cash (ICO) would be based on the «digital prospectuses of securities», which must be approved by the FMA, and the laws about manipulating the market and trading using confidential information is applied to ICO, as well as those that apply in the case of stocks and bonds.
In a press release dated 23. February, the Council FMA, Helmut e-ttl and Klaus Kumpfmüller wrote that «happy to accept the traffic of the Minister of Finance Hartwig Lögera, who conquered kryptowaluty such as Bitcoin, regulation and supervision».
Because digital currency is, in fact, a phenomenon-Fi and there are available without restrictions, the regulation and supervision of international cooperation is also of great importance, therefore, in particular, we support the approach based on the solution of these problems at the European level.
• Four-year Bitmain ahead dwudziestoczteroletnią Nvidię:
Chinese giant mining equipment, Bitmain was perhaps more profit in 2017, the older, from his American supplier of graphics processors (GPU) Nvidia announced CNBC 23. Feb.
CNBC writes that according to a report published 21. Feb at research firm Bernstein four years, the company Bitmain has earned 3 to $ 4 billion in operating profit in 2017, while Nvidia was founded 24 years ago, earned about $ 3 billion in the same period.
Bitmain, founded in 2013, Jihan Wu and Micree Zhan, uses maps ASIC (Application-Specific Integrated Circuit) for digging Bitcoins (BTC), sells the platform to the seabed Antmininer BTC with power ASIC, and supports «the pools at the bottom of the sea», a system in which the miners kryptowaluty provide resources and share the prizes.
Graphics made Nvidię, perhaps more belong to the «miners hobbistycznych» that can decide on a conventional GPU, instead of having to invest in a more powerful and expensive devices with the system ASIC, such as Antminer Bitmaina.
Analysis of Bernstein shows that Bitmain has a 70 to 80 percent of the market bitcoinowych miners and ASIC cards, and most of the revenue comes from the sale of platforms for the extraction and, to a much lesser extent, through fees for managing pools of production. In addition, it removes the production capacity of its mountain farm through cloud services.
Rising prices for Bitcoin in 2017 also contributed to the profit Bitmain, as the report, Bernstein said that «Bitmain cleverly adjusts the price of hardware for the price of Bitcoin.» When the value of BTC has increased to $ 20,000 in December 2017, Bernstein said that the price of Antminer Bitmin and S9 reached almost $ 5,000.
Taiwanese manufacturer TSMC, which supplies chips Bitmain ASIC company, has signed an agreement with Samsungiem at the end of January this year. Analysts at Bernstein argue that the agreement with Bitmain TSMS promoted from 2. 3. the percentage of total income the developers of the chips last year.
Following the Chinese repressions in the industry kryptowalutowym in the country, this prohibition, as the previous sentence cash (ICO) and foreign exchanges, Bitmain, tried to circumvent the rules through the opening of farm production in Canada and Switzerland, subsidiaries of mountain basins in Israel and PKP regional in Singapore, the report said Bernstein.
• The logistics sector in Germany will be improved thanks to the Blockchain technology:
The Fraunhofer Institute for Data Microsystems (ipms) with headquarters in Dresden, Germany, intends to use the Blockchain concept for the development of systems of wireless sensors, radio frequency identification (RFID) in the logistics sector, according to information a press-conference with 22. Feb.
Use Blockchain for decentralized storage of data generated by RFID sensors can be in this context, perhaps due to the unique approach to each client. Fraunhofer ipms develops customized solutions for equipment and software to their customers and to analyze their individual needs through modeling. Although the company Fraunhofer ipms offers more finished product with the integration of the Blockchain, will present software solutions for wireless sensor RFID systems that can be expanded with the Blockchain technology at the Exhibition Intralogistycznych Solutions and Management Processes (LogiMat). The event, which will be held on 13-15 March 2018 in Stuttgart, Germany, is Europe’s largest exhibition in the field of logistics.
According to the press of the Fraunhofer Institute ipms, the company sees great potential in the use of Blockchain technology for data management in supply chains in process automation and logistics and says it can speed up delivery to avoid fraud and errors, and reduce costs.
Dr. Andreas Weder, group leader at the Fraunhofer ipms, said that storing data generated by the transponders of the RFID sensors in the Blockchain allows them to be reliably seen in all participants of the supply chain:
Our passive transponders with the RFID sensor to measure physical parameters such as moisture, vibration and temperature, and transmit them wirelessly to the reading device, which delivers the energy.
German band lobbingowa Blockchain Bundesverband said earlier this month that the German government will create a legal framework for regulating Blockchain technology in Russia for the benefit of the Blockchain industry in this country.
• Percentage of cases of money laundering through crypto currency can be measured:
Opponents on crypto currency long convinced that digital currencies are a tool for money laundering. If you believe the National Police Agency, in Japan, it may actually be – though not so common as it might seem.
According to reports, National Police Agency of Japan suspects 669 cases of laundering of money spent using the crypto currency in the period from April until December 2017. The reports come directly from the operators of exchange for crypto currency, which shall, within the limits of the Japanese regulation to report suspicious transactions that could signal money laundering. The center was established to prevent trade wanted – one of the biggest fears associated with digital currencies. Currently, it is 16 exchanges kryptowalutowych is legally registered to work in Japan.
However, it should be noted that the total number of suspicions of money laundering in Japan in 2017. is currently 400.043, which means that the cases associated with kryptowalutami reported during those 9 months are less than 0,17% of all suspects in money laundering.
A very small percentage of cases of money laundering by means of cryptography, it seems to undermine the argument that digital currencies are tools for criminals who want to launder money, although it can be assumed that many transactions in the crypto currency criminal cases is niezauważanych.
An Agency of the European Union on Cooperation in the Field of law Enforcement (Europol) said recently that 3 to 4 billion pounds (4.1 to 5.5 billion dollars) criminal money is prana, using the crypto currency in Europe alone.
Reports outside of Japan seem to suggest that Europol or wrong in his assessment, or that Europe has a much more significant problem of money laundering than most people could count.
• Capitalization of crypto currency is falling:
In the last 24. watch the market value of crypto currency decreased by 13.6 billion dollars, and is 431,3 billion. Price of Bitcoin fell below $ 10,000, which has also affected other kryptowalutach. Ethereum recorded a loss on the level of 2.8%, Litecoin And 2.2%, Ripple Of 4.7%, Neo 1.2 percent. The total turnover on the exchange today was $ 18.5 billion.
source: cointelegraph.com, bitcoinist.com, coinmarketcap.com.