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IBM Proclaims the Arrival of a New Economic Revolution

IBM Proclaims the Arrival of a New Economic Revolution

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International Businesses Machines (IBM), an employer of half a million with a yearly revenue of more than $80 billion, has shared an infographic which states that the industrial internet of things is the next economic revolution.

According to the IoT infographic , low-cost sensors, and long range wireless technology have combined to give rise to intelligent machines which will add $20,000 to average U.S. incomes and an estimated gigantic sum of $15 trillion to the world’s economy by 2030.

IBM said in a blog that: These advances go beyond just manufacturing and will spread into farming, city planning, energy management, and more… It is predicted that this growth will be comparable to the industrial revolution. Microsoft, Cisco, and other tech giants have likewise announced a raft of new IoT initiatives this year, opening numerous research centers in partnership with world-renown academic institutions as the focus seems to be shifting to what may be the world’s growth engine. Public Blockchains and IoT

Smart contracts and digital currencies like ethereum may play a key role or at least be a significant subset of IoT depending on how these public blockchains develop. They add a third dimension, combining sensors, wireless tech, cloud computing, data analytics, smart contracts and digital currency, allowing machines to autonomously hold and trade value for the first time in history.

Currently, ethereum especially, is experiencing an incredible amount of activity and interest from developers who are partaking in numerous hackETHons to implement useful smart contracts ranging from the mundane replication of current services and experimentation with adding efficiency to financial applications to the more unique industrial use implementations.

Chronicled , a Silicon Valley startup, is an example of the latter. They have given smart tags, and by association, sneakers, what we can call a highly primitive level of intelligence in […]

Counterparty Brings Ethereum Smart Contracts to the Bitcoin Blockchain

Counterparty Brings Ethereum Smart Contracts to the Bitcoin Blockchain

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Counterparty , the technology for decentralized financial tools on the Bitcoin blockchain, has started running Ethereum smart contracts by porting the Ethereum Virtual Machine (EVM) to its codebase.

In late 2014, Counterparty added their support to execute the Ethereum smart contracts platform on Bitcoin; however, at that time, Ethereum was in its pre-alpha stage of development, with its first major release, Frontier, not yet being announced. Of course, with both Frontier, and later, the release of Homestead in late February, the developers at Counterparty have witnessed the EVM growing nicely. The end result was to create a contract that would work with Ethereum, Counterparty, and Bitcoin, which they seem to have achieved, according to Counterparty Core Developer, Ruben de Vries. He stated: It is not possible to start running a contract on Counterparty testnet with the current code. Speaking to CCN , director of the Counterparty Foundation, Trevor Altpeter, said that Ethereum’s added functionality on the Bitcoin blockchain means that Counterparty’s EVM can do everything that Ethereum is able to do except it occurs on the Bitcoin blockchain instead. The only differences are Bitcoin specific such as longer block times compared to Ethereum,” he said. “Counterparty’s EVM port will allow users to create and deploy decentralized autonomous organizations (DAOs), DAPPS, and smart contracts on the Bitcoin blockchain. Since its introduction in 2009, Bitcoin has been the most widely used digital currency, the most valuable digital currency, and the most secure blockchain. Naturally, then, Ethereum’s added functionality on the blockchain means that the security provided by the digital currency is one of the largest benefits relative to any other existing blockchains.

Another benefit is the fact that Counterparty uses Bitcoin addresses directly, which is “the logical progression given Bitcoin’s currency dominance in cryptocurrency,” said Altpeter. “It has the added benefit of […]

SingularDTV to Produce Singularity-based Sci-Fi TV Series for Ethereum Blockchain

SingularDTV to Produce Singularity-based Sci-Fi TV Series for Ethereum Blockchain

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SingularDTV (S-DTV), the newly launched Blockchain entertainment studio, has just unveiled production of its first original television series ‘Singular’ – an epic science fiction adventure about the human race’s journey into a theoretical technological Singularity .

Evotion Media Producer, Kim Jackson ( Blue Caprice, Inside Man, Munich ), has been appointed Chief Creative Officer of ‘Singular’ and will lead Season 1 into production October 3, 2016. Principal photography will commence in New York City, Puerto Rico and Panama. The television series will serve as the use case to build-out S-DTV’s recently announced rights management platform.

Zach LeBeau, CEO of S-DTV noted, “‘Singular’ is an international television series which will be produced and distributed worldwide through the S-DTV portal. It’s a multi-lingual series featuring a cast from the United States, Russia, China, and several other countries. ‘Singular’ strives to bring cultures closer together through great science fiction that inspires the imagination. The ‘Singular’ multiverse depicts a positive future of possibilities and discovery.” Taking place between the years 2021 – 2045, ‘ Singular ’ follows an international cast of unlikely characters as decentralization scales and artificial intelligence becomes conscious, ultimately leading the world into a technological Singularity – a theoretical advancement in technology that creates a human/machine super intelligence.

Futurist Ray Kurzweil, known for popularizing the term “Technological Singularity”, describes it as an exponential increase in the advancement of various technologies that transform people as they augment their minds and bodies with genetic alterations, nanotechnology and artificial intelligence, leading to a human/machine intelligence of infinite power that radiates outward from the planet until it saturates the Universe.

S-DTV is a film and television entertainment studio focused on the production and distribution of original science fiction content, as well as educational documentaries about Blockchain technology, decentralization and Ethereum. Through developing applications on Ethereum’s Blockchain, S-DTV […]

Stampery Announces More Powerful API And New Interface

Stampery Announces More Powerful API And New Interface

By | Ethereum | No Comments

Anchoring data to the Bitcoin blockchain is an emerging trend these days. Stampery is one o the companies active in this space, and they have launched a new API for industrial users. Moreover, the certification service has been improved, allowing for a faster and slicker user experience. Stampery Targets A Bigger Crowd

Most people know Stampery as a new notarization solution using the blockchain to anchor data. Using this technology allows for proof of ownership and proof of existence, both of which are invaluable to notary services. Moreover, Stumpery also generates a proof of receipt, which is timestamped and a valid proof that someone received your communication in time.

Several new updates have been made to the platform, starting with a more powerful API. Such an API allows developers to use this blockchain-based notary service in an industrial manner. For example, it is now possible to execute Ethereum settlement, and all of the Stumpery records are embedded in the Ethereum blockchain as well. Bitcoin and Ethereum are two open blockchains, and it is positive to see companies use both solutions at their disposal.

But there is more, as the new Stumpery API will bring far better scalability than ever before. Given the sheer number of data transactions generated around the world every second, a scalable solution on the blockchain is direly needed. Albeit there is still a long way to go, the new API offers 100x the capability compared to its previous version.

On the consumer side of things, the interface of the Stampery service has received an overhaul as well. Making these solutions convenient and easy to use are two of the top priorities for the company. On that same topic, the new Stamp.io platform, which also serves as the new interface, has removed some of the lesser-used functions. Dropbox, […]

Realtor-Backed Incubator Invests in Ethereum Identity Startup

Realtor-Backed Incubator Invests in Ethereum Identity Startup

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A startup seeking to use the Ethereum blockchain and artificial intelligence to create an identity authentication system has been accepted into REach, an incubator backed by the investment arm of the National Association of Realtors (NAR).

Founded in 2015, Trust Stamp is now emerging from stealth mode, revealing $400,000 in funding for what it calls its FICO-like trust scoring system, with part of its funding coming from the REach incubator. The incubator is operated by Second Century Ventures, which is 100% owned by the NAR and conducts investments on behalf of the not-for-profit trade association.

Trust Stamp is one of seven companies that entered the REach incubator in April, alongside others that seek to serve different stakeholders in the real estate industry.

In interview, Trust Stamp founders Gareth Genner and Andrew Gowasack framed their product as one that could have a wide variety of applications in everything from real estate to online dating websites by allowing individuals to easily share aspects of their identity.

Genner told CoinDesk: "This is the basic concept of the Trust Stamp engine. We create an Ethereum contract which is unique to you, which becomes your identity. We hash the data to your private key, which unlocks the information of your data. Users can provide the legal verification of their identity, their photo, name and any other verified data." Mark Birschbach, managing director of REach, said that the incubator sees potential for blockchain technologies to ease frictions in the real estate industry. Still, Birschbach said that REach perhaps maintains a more conservative investment philosophy in line with its membership and industry interests.

"We’re looking at technologies that can aid our members rather than replace them," Birschbach said in an interview. "We saw right away that this is a tool that could do well in the industry, but obviously there’s underlying […]

Will The DAO Become Ethereum's Mt Gox?

Will The DAO Become Ethereum’s Mt Gox?

By | Ethereum | No Comments

As stakeholders in the world’s largest decentralized autonomous organization (DAO) descend into forums to debate its future, concerns are emerging about what the success or failure of The DAO could mean for Ethereum, the blockchain platform that enabled its creation.

Front and center for those invested is the idea that the fate of one of the technology’s most visible projects could create a lasting impression among potential users and the public, and the fears are not without precedent.

While bitcoin continues to face difficulty with regulators and banks, Ethereum has so far been able to build public bridges with the mainstream financial world. Tests were run by 11 banks on a private version of the network in January, and invitations for its creator to help inform the work ongoing at Hyperledger and R3CEV have so far followed suit.

In contrast, bitcoin’s network has secured billions of dollars in funds for years, but its reputation was shaped early on by events like the shutdown of online black market Silk Road , the rapid price fluctuations of its token and the collapse of its once-largest exchange, Mt Gox .

Against this backdrop, those close to the project are beginning to see The DAO as Ethereum’s "flagship application", one that they believe could hold the key to ensuring a lasting, favorable impression for Ethereum’s technology, or scar its reputation.

Stephan Tual founder of Ethereum startup Slock.it which created the code on which The DAO is built told CoinDesk: "You don’t want a bad story about Ethereum. If [The DAO] were to crash, people would compare it to Mt Gox." Reality check

But why is so much riding on The DAO?

A decentralized autonomous organization that lets its members vote on how to fund projects and direct operations, The DAO has so far amassed $160m in consumer funds […]

BlockCypher Releases Ethereum API Toolkit for Developers

BlockCypher Releases Ethereum API Toolkit for Developers

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Blockchain app development startup BlockCypher has expanded its platform to include support for Ethereum, a move the company says will see professional services firm Deloitte among its first users.

BlockCypher CEO and co-founder Catheryne Nicholson says the addition of Ethereum was in response to an increased demand from more than half of the startup’s client base, which also counts remittance app startup Abra among those using the new toolset.

Speaking with CoinDesk at the Exponential Finance Conference in New York, Nicholson estimated that more than half the company’s developers have asked for an Ethereum integration.

Nicholson said in an interview: "Our bread and butter is developers. What they ask us for is what we implement. The number one ask was Ethereum, so we had to bring to life our APIs on the Ethereum blockchain." Launched in 2014 to provide app-building services for blockchain developers, the company last year raised $3m in a seed funding round from Tim Draper and Yahoo co-founder Jerry Yang’s AME Cloud Ventures, among others. Deloitte and Ethereum

The beta release launched today includes APIs for hosting Ethereum accounts, tracking balances and facilitating transactions.

Nicholson says the platform’s Turing-complete programming language has driven interest among the startup’s customer base.

"It’s a much more robust scripting language," she said. "It’s easier. It’s in standard programming language user interfaces, it’s not a machine language."

According to Deloitte principal Eric Piscini, his team of 12 US-based blockchain specialists have been working with the startup to develop two prototypes built on the bitcoin blockchain.What attracted Piscini to the Ethereum integration, he said, is that the blockchain team won’t have to learn any new skills to start building with the new offerings. Deloitte announced that it was first working with BlockCypher earlier this year.Piscini told CoinDesk: "If you need smart contracts you will mostly go to […]

Microsoft Building Open Blockchain-Based Identity System With Blockstack, ConsenSys

Microsoft Building Open Blockchain-Based Identity System With Blockstack, ConsenSys

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Microsoft has announced that it is collaborating with Blockstack Labs , ConsenSys and developers across the globe on an open source, self-sovereign, blockchain-based identity system that allows people, products, apps and services to interoperate across blockchains, cloud providers and organizations.

The United Nation’s Sustainable Development Goals include giving everyone a legal identity by 2030. As a first step, the U.N. wants to develop scalable identity systems by 2020. The inaugural " ID2020 Summit ‒ Harnessing Digital Identity for the Global Community," held at the United Nations headquarters in New York on May 20, brought together policymakers and technology companies to develop an action plan.

“While we don’t profess to have solutions to these overwhelming problems today, we can start where the open source community is best: collaboration,” said Yorke Rhodes III , blockchain business strategist at Microsoft. “To progress toward these goals, we have been working with partners to address identity using the self-owned or self-sovereign qualities of blockchain technology.”

The Microsoft strategist said that the Redmond, Washington, giant is working with Blockstack Labs and ConsenSys to leverage their current Bitcoin and Ethereum-based identity solutions, Blockstack and uPort . Through this open source collaboration, Microsoft and its partners intend to produce a cross-chain identity solution that can be extended to any future blockchains or new kinds of decentralized, distributed systems. In the coming weeks an open-source framework for developers will be made available on Azure.

Blockstack ‒ an open source blockchain application stack ‒ permits building decentralized, serverless apps by plugging into Blockstack’s services for identity, naming, storage and authentication.

According to the Blockstack team , Blockstack is the largest, most popular blockchain identity system, with 50,000 registered identities that come with profiles and globally unique names. Identities can be registered for people, companies, websites, software packages and more. Profiles can contain both […]

Vitalik Buterin Sets Milestones On Ethereum’s Route to Be The ‘World Computer’

Vitalik Buterin Sets Milestones On Ethereum’s Route to Be The ‘World Computer’

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Vitalik Buterin has set the next Ethereum’s milestones for 2017 and 2018. According to his paper ‘Opportunities and Challenges for Private and Consortium Blockchains’, Ethereum 3.0 with ‘unlimited’ scalability will be released in late 2018. Ethereum’s success brought smart contracts in focus

The Ethereum platform has generated much furore of late particularly after the crowdfunding of The DAO – or the Decentralized Autonomous Organization – and the subsequent spike in the price of the currency of the platform, Ether , from less than a dollar to $15 in six months .

A sane level of clarity has also been achieved on the differences between Ethereum and the Bitcoin platform. This understanding, though still sinking, has enabled the two leading cryptocurrency platforms in the world to maintain their operating focus in specialized areas of interest. It also provided enthusiasts a clear view to make the best investment choices.

Ethereum has been appreciated more for the popularity it has brought to smart contracts whose programming it’s made a basic tenet of Blockchain’s power. Future Ethereum’s milestones

However, despite the rave, the comparison with Bitcoin and the great expectation of the optimistic ETH ecosystem, the Ethereum projects’ currently expected future milestones are still set for between 2017 and 2018, according to Vitalik Buterin, a co-founder of Ethereum, in his paper ‘Opportunities and Challenges for Private and Consortium Blockchains released by the R3 Consortium.’ Metropolis: release of the Mist browser, expected summer/fall 2016

Serenity (‘ Ethereum 1.5 ’): release of the proof of stake (Casper) version of the Blockchain, also including Ethereum Improvement Proposals (EIPs) 101 and 105. Expected early 2017.

WebAssembly release (‘Ethereum 1.75’): faster virtual machine. Expected 2017.

Ethereum 2.0 (yet unnamed): initial scalability release. Expected late 2017. Ethereum 3.0 (yet unnamed): ‘unlimited’ scalability release. Expected late 2018. If these milestones are anything […]

Decentralized Marketplace Social Kapital Aims At Longest Crowdsale Ever

Decentralized Marketplace Social Kapital Aims At Longest Crowdsale Ever

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Cointelegraph spoke with Sirus Knight, one of the experts at the core of Social Kapital, a decentralized VC fund and business idea marketplace similar to The DAO. On June 20th it launches a crowdsale campaign.

Whilst The DAO wants to achieve the complete automation of the Blockchain, Social Kapital places more emphasis on using the Ethereum to power its community and governance committees.

Here is what Sirus Knight had to say about their project, The DAO, and the nascent industry of decentralized organizations. Business processes important

CT: Do you think some other company can reach similar results to those of The DAO?

Sirus Knight: The DAO was the first to the market and that fact has provided them with certain advantages. However how much you raise is not a predictor for success. You need to have the right processes to harness the wisdom, talent and connections of your organisation for the purpose of building profitable companies. I think we have the right business processes for an investment fund. That is one of the key factors for success. New types of attacks

CT: Why have the developers of The DAO permitted alleged security flaws in their concept? What did you do to avoid repeating the same mistakes?

SK: In my view, putting an investment fund on autopilot is bound to be very challenging. Five months ago when we started iterating the Social Kapital business model we realised that building an organisation on the Blockchain presented new security challenges. It will not just be your code that will come under attack but your business logic, which is what you are encoding in smart contracts, will also be attacked. We have invested a lot of time in testing our assumptions and hardening our business logic.

CT: What if there are more loopholes, […]

Social Kapital Goes Further Than DAO in Security Concerns

Social Kapital Goes Further Than DAO in Security Concerns

By | Ethereum | No Comments

June 20th, Social Kapital , a decentralized VC fund and business idea marketplace, is to launch its crowdsale campaign. The news comes after the immense success of The DAO , a similar company, that has just closed the largest recorded crowdfunding campaign in history.

Whilst The DAO pursues the holy grail of complete automation on the Blockchain, Social Kapital places more emphasis on using the Ethereum Blockchain to power its community and governance committees. DAO success encourages followers

The DAO, a fintech industry phenomenon, has recently managed to secure more than $132 million in what was the largest recorded crowdfunding event in history. Such an outstanding result was not achieved due to some unbelievable product or service – in fact, the company does not offer either, as of yet. The DAO’s main virtue lies in the innovative way of its organization, enabled by its underlying technology – the Ethereum Blockchain.

The DAO is a decentralised investment fund whose shareholding and business processes are codified as Ethereum smart contracts. Any project contractor may submit a proposal to The DAO for funding. The so-called curators (software experts) inspect the smart contract accompanying the proposal to check for possible attacks. If the proposal code is given a clean bill of health by the curators, token holders can then vote on whether to finance the proposal. If a funded proposal turns profit later down the line, they are eligible to receive revenue from its operation.

All The DAO’s decision making going forward is automated and autonomous. Ether is disbursed to contractors, and revenue is received from them entirely via smart contracts. Security concerns higher on agenda

However, such a revolutionary concept, potentially capable of changing the entire way business is done in the coming decades, does not come without its own flaws. Several independent experts, such […]

The DAO Considers Peerplays Investment In Exchange For 5% Stake

The DAO Considers Peerplays Investment In Exchange For 5% Stake

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The world of blockchain technology and cryptocurrency is spawning many new projects which deserve some attention. The DAO, which is now the largest crowdfunding campaign in history, is looking to invest in some of these projects. Peerplays is one of the projects under consideration Peerplays Considered By The DAO For Investment

Using open-source blockchain technology to ensure casino card games are provably fair is an attractive business model. Peerplays is a company providing exactly that service, as they want to eliminate fraud in the gambling industry. According to the information we have received, this industry sees players lose close to US$100m per year due to cheaters.

What makes Peerplays even more interesting is how the company labels itself as a DAC, rather than a DAO . This is due to Peerplays being a decentralized autonomous Co-op. By offering both stakeholder voting and distributing fees through an automated profit-sharing program, the company is making a name for itself.

But there is more, as the blockchain solutions consultant for Peerplays – called BunkerChain Labs – recently launched their public crowdfunding campaign. Moreover, they are offering 5% of their entire Peerplays stake to the DAO in exchange for investment.

BunkerChain Labs President Jonathan Baha’i told the media: “Peerplays is a cousin to the DAO and has many shared interests. And since the DAO is built on Ethereum, and Peerplays will support Ethereum as a wagering instrument, it made a lot of sense for us to offer The DAO a stake in Peerplays.” It is well worth nothing Peerplays developers have been working together with other DAOs in the past. Now that The DAO has concluded its crowdsale, the goal is to start funding other companies, whether they are now or established. Peerplays makes a compelling case for itself, and their full DAO proposal […]

Two Early Ethereum Backers Join Lisk as Senior Advisers

Two Early Ethereum Backers Join Lisk as Senior Advisers

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Photo: Finance Magnates A decentralized applications and custom blockchain platform , Lisk has added two American early backers of Ethereum, Charles Hoskinson and Steven Nerayoff, as senior advisers. Max Kordek Lisk CEO Max Kordek announced: “We are extremely pleased to announce Charles Hoskinson and Steven Nerayoff as our senior advisors, which accelerates Lisk product growth by giving valuable input on the technology and startup methodology,” said Kordek. “Charles and Steven were two of the most prominent individuals responsible for the phenomenal success of Ethereum. There is no one else in the world like Charles who has the vision to build a successful cryptography project and Steven, who has an invaluable entrepreneur insight after founding six companies and being a venture capitalist. Steven knows exactly what a startup needs to become a success. With their advice, we are dedicated to creating a blockchain application juggernaut.”

Hoskinson founded Invictus Innovations and created BitShares a cryptocurrency utilizing Delegated Proof of Stake, a consensus algorithm also used by Lisk. He is a founder of Ethereum and served as its initial CEO from December, 2013, until June, 2014. Hoskinson’s contributions to smart contract platform are said to include designing the legal structure, crowdsale model, and building a global network of supporters. Hoskinson is currently the CEO of the Hong Kong based Input Output HK.

“Whether it be Bitshares, Ethereum or Cardano, I only work with projects that satisfy three criteria.” said Hoskinson. “First, they have to promote a cascading disruption in an industry. Second, the technology has to be interesting. Third, the team has to be honest and hardworking. Lisk satisfies all three of these criteria and I’m glad to be advising the team as they develop a vision and execute on a roadmap throughout the coming months and years.”

Steven Nerayoff, Esq. LL.M. founded six companies […]

Should the DAO Hire Professional Consultants?

Should the DAO Hire Professional Consultants?

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Decentralized organizations have a tendency to require much input from very few people, with the vast majority relying on their free and voluntary work. However, as they provide their input due to simple interest, they may be unwilling to take a fully comprehensive and professional approach.

The volunteers eventually take a semi-leadership position, but lacking a paid incentive, seemingly simple things are not done, what is done may be sub-par with accountability nowhere to be found because they are, after all, just volunteers with no responsibility to anyone.

In responding to criticisms that the DAO attack vectors, which were published just a day before the crowdsale ended, should have been addressed before the crowdsale, rather than freezing activity while the smart contract holds some $170 million at current valuation, Vlad Zamfir, one of the 12 DAO curators and author of the DAO attack vectors report , stated that he did not expect the DAO to grow to such a huge project and, in a response, seemingly admitted that he had not quite looked at the code nor was aware of his role: “After the DAO’s crowd funding event became unexpectedly large and I could no longer ignore it, I started doing due diligence. I found that the community expects the curators to defend the DAO against majority takeover attacks.” The curators are coding volunteers with limited time. Most of them are working on many other projects, Zamfir included, who is focused on developing Casper to move Ethereum to Proof of Stake. If he provides any assistance, the DAO token holders should be thankful. If he doesn’t, that is his full right as he is under no obligation, but that of reputation. The DAO Needs Professionals

A capitalistic, self-interested, project, the most well-funded in the blockchain space, should not have to […]

“Uber for Knowledge” Augur Teams Up With Blockchain Security Experts

“Uber for Knowledge” Augur Teams Up With Blockchain Security Experts

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Augur, the Ethereum-based prediction market platform, has selected Airbitz for accounts services, bringing Edge Security to Ethereum.

It will enable a highly secure and user-friendly account creation process, along with automatic encryption, backup and synchronization that will make Augur feel like a traditional website for the end-user.

This solution could be the world’s first for interacting with blockchains.

Joey Krug, Core Developer at Augur, says: "One of the biggest usability issues with decentralized apps at the moment is that there’s no good way to store private keys and account data without resorting to a centralized server: Airbitz solves this problem for Augur.” Teaming up with blockchain security experts Airbitz Augur has raised over $5.3 million in crowdfunding to date for its decentralized prediction market which allows trading virtual shares for the outcome of events happening in the real world to win real money in the event of a correct outcome. The price of shares fluctuates over time as more people buy into the outcome.

Airbitz plans to bring Edge Security to many more apps for Bitcoin, Ethereum, and beyond. It’s been developing its Edge Security Platform since it was founded in 2014.

Many Bitcoin users are familiar with its mobile app. Its focus is on consumer and enterprise apps that face data security and consumer protection challenges, as Edge Security helps to reduce the liability of storing sensitive user data to nearly zero while simultaneously improving the user experience of account security for end users. Enhancing security and accessibility of decentralized apps

The partnership between Airbitz and Augur will lead to the deployment of the Airbitz Edge Security Platform.

This will enable Augur to have a highly secure and user-friendly account creation process, automatic encryption, backup, and synchronization to make end users feel like they are using a traditional website.Paul Puey, Airbitz Cofounder/CEO, says […]