97% OF BLOCKCHAIN STARTUPS ARE ‘CHAINWASHING’ – R3’S TIM SWANSON

admin Bitcoin, Block Chain Hype, Blockchain News, blockchain technology, Coinwashing, Editable Blockchains, Smart Contracts 0 Comments

Chainwashing is the perfect term, coined by R3’s Tim Swanson to describe the current “Blockchain, not Bitcoin” hype that is hopefully nearing its peak.  PEAK BLOCKCHAIN HYPE? There is a lot of hype around Blockchain or Distributed Ledger Technology (DLT) today. According to a new survey by Synechron among 200 financial services business and IT decision-makers across the US, UK and Europe, over two-thirds (67%) of companies in the industry are actively pursuing blockchain initiatives. Moreover, 94%, believe that key leaders (board members) have bought into developing blockchain projects. Today, the blockchain space resembles the hype of cloud computing a few years ago, where companies can simply throw the “Blockchain” buzzword around simply to get investor attention. What was once known as “cloudwashing,” i.e. rebranding an old product or service by associating the buzzword “cloud,” has now become “Chainwashing,” according to Tim Swanson, Director of Market Research at R3CEV. Swanson noted in a blog post: We think the number of companies with legs will continue to increase over time but chainwashing will continue to be a noise pollution problem for the next few years in the enterprise world even after production systems have been integrated into institutions. Swanson spends much of his time filtering startups that his team at R3 speaks …

Blockchain Start-Up “Colu” released Dashboard and Sandbox API

admin Bitcoin 2.0, Bitcoin Startups, Blockchain, CoinGreed, Cryptoequity 0 Comments

Colu recently released two new updates to help new users create more innovative blockchainsolutions. The Colu Dashboard aims to be the central location for viewing and managing digitalassets. The Sandbox API aims to enable users to quickly test code and view results. Amos Meiri, co-founder of Colu, began exploring blockchain technology while still working atFinancial Services Giant E-Torro back in 2012. Amos began interacting with the blockchaincommunity early on, to help develop a new way to transfer assets over the blockchain. After putting in months of effort and over $100,000 of investment through E-Torro, Amos and his co-founders David & Mark turned their focus to enabling developers to transfer value over the blockchain. This focus led them to found Colu, which since it’s launch 5 months ago has already enabled over 20 use-cases. Amos Meiri, co-founder of Colu said: “As a team, we found that working with the blockchain was extremely difficult for those just starting out. Therefore, we felt starting a platform, which would make it easier for developers to issue assets on the blockchain was vital.” The use-cases enabled by Colu are wide-ranging, from decentralized voting platform in theHonduras Island “Voto-Social” to secure product warranties on the blockchain, …

Blockchain-Based Credit Score Coming in 2016, forecasts Yandex, the 4th largest search engine worldwide

admin Block chain Credit Score 0 Comments

Banks may start applying blockchain technology tocredit scores in 2016. Such an assumption was expressed by 4th largest search engine worldwide and the most popular website in Russia,Yandex, CTO Grigory Bakunov during his lecture about the main trends of 2016. If applied, the blockchain will make scoring much easier and faster. The growing possibilities of artificial intelligence allow the building of wide networks able to gather authentic information about any user based on his/her accounts in social networks and other sources. Furthermore, they are able to process huge volumes of information, making the process of credit scoring much faster. The only problem is that they often used algorithms that are unexplainable in any human language. Grigory Bakunov states: “Artificial intellect often divides people into clusters using algorithms which are difficult to explain in human language. And that may be a problem because people often come to a bank asking why they can’t have a loan. And you’ll definitely owe them an explanation”. However, the development of artificial intelligence is fast enough. It is probable that soon enough it will be able to explain its own actions. And that’s why Bakunov assumes it to be a good platform to apply the …