Day: June 24, 2018

Covering crypto – Tulips, Bubbles, obituaries and other FUD portrayed by mainstream media

Semantics aside, the world of blockchain technology represents a new paradigm in the way businesses interact and operate. When its true potential is realized, the integration of blockchain throughout global industries may manifest as a transformative wave that beckons the next era of technology and business. While one certainly wouldn’t expect retail giant Walmart to be a pioneer of such developments, the US firm is taking an increasingly active role within the space.

The scene of brick-and-mortar retail throughout the US is that of an old, dying industry. As more and more consumer activities transition online, thanks to Amazon and other e-commerce solutions, the malls and big box stores of the 20th century are losing business and struggling to stay afloat. For the past few years, experts have predicted that the fate of US titan Walmart will be a slow, painful demise.

Alas, the company does not sound like the type of technological pioneer likely to embrace the future of blockchain technology. However, as Walmart seeks to prove its skeptics wrong and persist as the largest US business, the company seems to be looking into a number of ways to maintain its dominance. One area in which Walmart has taken a keen interest is blockchain technology.

Last week, Walmart was awarded a patent for a system for communicating patient medical files. As Walmart seeks to expand its role in healthcare, this patent utilizes a blockchain-based system that will allow patients to transfer medical records via distributed ledger transactions between wearable devices. The device, which will likely take the form of a bracelet, will carry an RFID (radio frequency identification) tag similar to the hardware employed by Waltonchain and Walimai to send medical files to pharmacies through a blockchain. The blockchain-based nature of the system ensures the security of patients and their files, as well as radically reduces the amount of energy required to transfer said files.

This patent was awarded just days after Walmart was granted another blockchain-related patent. This second patent encompasses a blockchain-based network for electricity exchange. The model situates devices in communication with some vendor and allows those devices to purchase electricity on demand via cryptocurrency microtransactions. It is uncertain if Walmart is looking to play a role as an electricity provider, or if it is merely looking to create a system that is far less wasteful in terms of the company’s own use of electricity.

Walmart has previously filed a host of other crypto-related patents. One seeks to record and organize customer transactions on a blockchain storage system. Another aims to enable smart package delivery via a blockchain network for supply chain management.

Beyond patents, Walmart is one of the first customers of Endor. The 2018 startup, which concluded private crowdfunding within the past two months, is often referred to as the “Google for Predictive Analysis”. With a blockchain-enabled AI platform, the Endor Protocol (EDR) provides predictions in regards to consumer preferences and reactions, advertising effectiveness, and much more for its customers, which also include Coca-Cola and a number of major corporations.

It’ll be interesting to see if Walmart joins the ranks of IBM, Bank of America, and Microsoft as major leaders in bringing the massive capabilities of blockchain to the world economies of tomorrow.

Virtual Reality, (or VR) is one of the fastest growing sectors in the video based sector. Every major tech company is working on the development of it. This includes the biggest names such as Alphabet’s Google, Apple Inc. and the social media giant, Facebook. Even world-renowned universities such as MIT and Oxford have serious investments in the research and promotion of the technology.

With so many companies and firms taking part in VR, either by offering products, development, investment or plain support, it would be easier to make a list of organizations that are NOT a part of the sector, rather than those that are.

ImmVRse’s List

ImmVRse is a blockchain platform that is all about VR and the practical application of the technology. The platform is actively pursuing the use of VR and integrating it into daily lives of its users. As such, the company has recently compiled a list of industries and sectors where the virtual reality can be used to enhance the working experience:

• Videos: One of the first things that come to mind with the words VR is videos. From short clips to the movie Ready Player One available in VR, the movie industry is set to launch more titles in VR.
• Gaming: Perhaps the biggest adopter of VR, the gaming industry is actively releasing hardware and software for games.
• Education: The ability to create a whole classroom within the confines of a room for a child means that the younglings need not walk or travel far to get a quality education.
• Tourism: Now with VR, tourists can view and get a feel of a place they want to visit, giving them the exact feel and atmosphere of the location, allowing a better judgment of vacation point selection.
• Medical: Research has shown that VR is very helpful in the rehabilitation of not only people with brain damage but also in countering the psychological effects of phobias such as vertigo.
• Real Estate: What better way to check out a property from the comfort of a home or office? Real estate business has a lot to gain from VR application.
• Manufacturing: VR allows manufacturers to view their finished products and designs in order to assess the potential outcome of their works.
• Journalism: Not the first thing that comes to mind when combined with VR, The Guardian’s experiment of letting users experience the windowless solitary confinement prison. The experiment was a success, showcasing how VR can be used for Journalism to make viewers feel, rather than just read about news.
• Meditation: Meditation is all about creating a peaceful and calm environment, getting in touch with one’s inner self. VR can create anything from a mountain-top to a Japanese rock garden for serenity purposes.

ImmVRse, as a blockchain platform, provides VR services for all kinds of industries and is collaborating with the best and brightest minds all over the world to promote the application of the technology to improve the lives of millions.

The core team comprises of experts from different industries, such as IT, marketing, financial management and others, creating a cohesive group that is leading the VR revolution.

For more information on the virtual reality platform, visit their website.

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Stanford University has launched an initiative that will be dedicated to the research and development of blockchain technology. The Center for Blockchain Research was announced on June 20 and will seek to address the legal, practical and societal challenges that keep blockchain from mainstream adoption. It will also develop a curriculum which will facilitate the use of blockchains across various industries and fields. The initiative is being supported by various stakeholders in the blockchain industry including the Ethereum Foundation and crypto-focused hedge fund PolyChain Capital.

An Academic Approach to Blockchain’s Challenges

The center will be led by some of Stanford’s most respected computer science professors as well as a few members of the university’s law school faculty to provide legal guidance. Dan Boneh, one of the lead professors at the center, believes that blockchain will shape the future of global trade in the future. With Stanford being among the leading research centers globally, it should be at the forefront of the research, development and application of the technology, he said.

The center promises to bring together scientists and industry leaders to work together and develop best practices for the industry. They will also develop courses which will assist students and other professionals in developing blockchain-based solutions to protect intellectual property, develop financial instruments, and more.

Stanford was full of praise for blockchain technology, listing the many applications it has and how it’s transforming diverse industries. Since it’s traceable, transparent and secure, blockchain is being extensively applied to manage supply chains, digitize voting technology, and facilitate the transfer of tokenized assets. According to Boneh, it’s a fascinating area of research which will have deep scientific implications.

While the potential of the technology is great, it’s still yet to be applied in scale. This is because it’s still faced with a number of challenges, and the center hopes to develop solutions that help overcome these challenges. They include finding the right balance between privacy and transparency, scaling to cater to an ever-increasing number of users, and how to lower the huge amount of electricity consumed in mining without compromising network security and efficiency.

The center will conduct an initial five-year research program which will be funded by six partners. They include the Ethereum Foundation, the Vitalik Buterin-led organization which supports research into the Ethereum platform, its development, and other efforts to spur the growth of decentralized applications. Also a partner is PolyChain Capital, a hedge fund backed by some of the most renowned venture capital firms out there including Sequoia Capital and Andreessen Horowitz, and which has invested in a number of crypto startups such as MakerDAO, Basis, and Republic Protocol. Other partners are OmiseGO, Interchain Foundation, Dfinity, and Protocol Labs.

Academic institutions have developed significant interest in blockchain technology, and quite a number have set up dedicated facilities to conduct research into the industry. And crypto startups have supported these initiatives, with Ripple recently committing $50 million to its University Blockchain Research Initiative. The funding, which aims to support blockchain development and research, will be distributed to 17 top global universities including Princeton, the University of Pennsylvania, and MIT.

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