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SAN FRANCISCO: Some of the world’s biggest internet messaging companies are hoping to succeed where cryptocurrency startups have failed by introducing mainstream consumers to the alternative world of digital coins.  The internet outfits, including Facebook, Telegram and Signal, are planning to roll out new cryptocurrencies over the next year that are meant to allow users to send money to contacts on their messaging systems, like a Venmo or PayPal that can move across international border . The most anticipated but secretive project is underway at Facebook. The company is working on a coin that users of WhatsApp, which Facebook owns, could send to friends and family instantly, said five people briefed on the effort who spoke on the condition of anonymity because of confidentiality agreements.  The Facebook project is far enough along that the social networking giant has held conversations with cryptocurrency exchanges about selling the Facebook coin to consumers, s...

The chief executive body of the German government, the Cabinet of Germany, has revealed that the country’s blockchain strategy will be introduced by mid-2019. The Cabinet commented on the development of fintech in the country on Feb. 26, following a request for information from parliamentarians in the Bundestag. The document notes that fintech sandboxes are currently present in five member states of the European Union: Denmark, Lithuania, the Netherlands, Poland and the United Kingdom. The Cabinet states that they will undergo an online consultation process prior to introducing the blockchain strategy. Per the Cabinet, the Ministry of Finance and the Ministry for Economic Affairs and Energy are preparing the strategy, with the expectation that other relevant ministries will contribute at a later time. Earlier this month, Reuters reported that the German government is already consulting companies...

Data science  is a central part of virtually everything – from business administration to running local and national governments. At its core, the subject aims at harvesting and  managing data  so organizations can run smoothly. For some time now, data scientists have been unable to share, secure and authenticate data integrity. Thanks to bitcoin being overly hyped, block chain, the technology that underpins it, got the attentive eyes of data specialists. Bitcoin touted the decentralized ledger as an open-source and transparent network that is secured by robust crypto graphical calculations.  Well, if you look at block chain in regards to bitcoin, its implications to data science wears thin. However, if you look at it as a public distributed ledger for permanent record keeping and a system of contracts, you can see how it relates to big data analytics. Source:Google Images Here are some of the many reasons why data sc...

Swiss-based Transoil International and Solaris Commodities have conducted a blockchain pilot transaction of Black Sea wheat, S&P Global reports Nov. 12. Both companies are involved in the trading of international agricultural commodities like milling wheat, vegetable oil and flour. The two firms completed the pilot using the blockchain-based agri-commodities trading and financing platform of Swiss startup Cerealia. Transoil and Solaris completed a sale for a 25,000 metric ton shipment of 11.5 percent protein Black Sea wheat on a FOB-loading port basis from the Russian port city of Novorossiysk. This is reportedly the first blockchain-based trade deal of Black Sea wheat, while the exact monetary terms of the transaction have not been disclosed. By deploying a blockchain-powered platform, the parties seek to minimize risks and conflicts that may arise as the technology purportedly improves dispute settlements and monitoring the...

BLOCKCHAIN PHONES ARE  coming, that much is certain. The Sirin Labs Finney and the HTC Exodus are both expected by the end of the year, each with its own, sometimes vaguely defined sense of what exactly that term means. HTC’s Phil Chen, who spearheaded Exodus development, has at least started to fill in the blanks of how the Exodus will pull off its most important trick: keeping your cryptocurrency safe. The Exodus has loftier ambitions than mere storage, of course. “A few years down the road, we see a world where people own their own identities and data, where everyone understands the concept and economics of digital property,” says Chen, HTC's decentralized chief officer. For the moment, though, the primary concern for the Exodus’s intended audience is how well it works as a hardware wallet. That had, until now, been a bit of a question mark. After all, a smartphone seems like an inopportune place to stash digital currency. Android phones, in particular, present i...

The Smart Dubai office, a government initiative led by the Crown Prince of Dubai, is integrating blockchain technology into its retail payments smartphone app DubaiPay, enabling reconciliation and settlement transactions in real-time. Developed in collaboration with Dubai’s Department of Finance (DoF), the Smart Dubai Office (SDO) launched the system on Sunday with a press release labeling it a “blockchain-powered upgrade to its financial system’(Dubaipay)’. Current DoF procedures are dependant on staff members physically checking payments collected from different portals to manually reconcile the transactions before settling them. This extensive process includes a fee deduction before the remaining sum is transferred to the relevant overseeing authority, altogether taking up to 45 days. Speaking to  Gulf news , Mira Sultan Obaid Abdul Rahman, Smart Dubai Government’s director of smart services-enablement department said the notable pivot was to increase the gover...