Day: May 14, 2018

Blockchain Security Takes Spotlight At NYC Innovation Summit

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“At its highest level, blockchain is a trust layer.” In nine words, Kaleido Insights founding partner Jessica Groopman succinctly summarized the gist of CDX Academy’s “Blockchain Brand Innovation Summit” on May 11 during her opening remarks. The summit itself brought together representatives from blockchain startups and incumbent institutions to debate and discuss different use cases for the technology, noting both its advantages and its flaws. According to various panels, the obvious use for blockchain is in data storage, whether in healthcare or in other private, consumer data. The overreach of many…

‘Utility’ No More? ConsenSys Pitches ‘Consumer Token’ Label

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The Brooklyn Project – the token regulation initiative headed by ethereum startup ConsenSys – wants to dispense with the concept of “utility tokens” in favor of what it calls “consumer tokens.” The Project discussed its intention to shift the discourse at the Fluidity Summit on Thursday during a presentation by ConsenSys’ policy lead Pat Berarducci and OpenLaw’s Aaron Wright. According to a document published by the Project, the initiative broadly aims “to provide a basic framework for long-term oriented behavior and to help establish trust between the initiators of consumer token projects, their…

At Ethereal Summit, A Human Face On A Blockchain Future

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“Raise your hand if you don’t know what ‘bitcoin mining’ actually is.” At an impromptu Q&A at Ethereal Summit on May 11, Consensys software engineer Ashoka Finley encouraged the audience to ask embarrassing questions they might have about cryptocurrency and blockchain. “What’s ‘hashing’? Don’t know what a bitcoin is?” Finley went on, encouraging attendees. The questions spoke to the sentiment on day one of the two-day conference hosted by the company, a Brooklyn-based ethereum startup incubator, characterizing the inclusive atmosphere CEO Joseph Lubin appeared to be aiming for with the whimsical conference…

Congressional Candidate Vows to Gauge Voter Sentiment With Blockchain

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The crypto candidate – it has a nice ring to it. And Brian Forde, former head of MIT’s Digital Currency Initiative, is making that his new title. The author of the White House memo on bitcoin during the Obama administration, Forde is looking to take his interest in cryptocurrency and blockchain technology to higher office – California’s 45th District seat in the U.S. House of Representatives, to be exact. Forde said during the Ethereal Summit in Queens, NY, on May 12 that he is running for office on a platform of bridging…

A Daily Show Comedian Showed Up to Roast an Ethereum Conference

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“No one knows what the fuck is going on.” That’s according to Ronny Chieng, senior correspondent on the satirical news program The Daily Show, who took the stage at Ethereal Summit on Saturday with ConsenSys founder and CEO Joseph Lubin and Kavita Gupta, founding managing partner at ConsenSys Ventures. Chieng, who spoke with Lubin in December on the show, again criticized the big promises and hype of the industry. He argued that many people in the industry use complicated jargon and words that were “invented” two or fewer years ago…

Losing the Hoodie: Crypto Fashion Gets Loud and Proud In New York

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“Make blockchain stylish again, that’s my motto.” So quipped the emcee of the third Ethereal Summit in Queens, NY, during one of the final talks of the two-day event. He’d been asking attendees to ask embarrassing questions they might have about the technology. Joseph Lubin, founder and CEO of event host ConsenSys, had touted the occasion as a way to bring those outside the space into the fold. Artists, musicians, entrepreneurs, enterprise executives and government activists all blended with the usual crowd, and it was obvious. While the reclaimed glass factory where…

Bahrain Hopes to Cut Vehicle Data Storage Costs Using Blockchain

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The Kingdom of Bahrain is eyeing the adoption blockchain technology in bid to cut the cost of maintaining the country’s vehicle registration data. Bahrain’s General Directorate of Traffic (GDT) announced on Thursday a new plan to develop a blockchain-based vehicle registration system in the country and is now looking for a technical partner to focus on the system’s design and implementation. Shaikh Abdulrahman bin Abdulwahab Al Khalifa, director general of the GDT, said in a statement: “This registry will be a vital advancement in reducing the overall cost of maintaining critical vehicle…

Crypto Valley Association Taps VC Firm Lakestar as Strategic Partner

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Switzerland-based blockchain consortium, the Crypto Valley Association (CVA), has added European venture capital firm Lakestar as a strategic partner, the association revealed to CoinDesk this week. Lakestar has previously dabbled in blockchain, and in 2017 made investments in crypto wallet provider Blockchain and exchange startup ShapeShift. Its portfolio also includes investments in Skype, Spotify, Facebook and Airbnb. With the announcement, Lakestar will join the rank of CVA’s existing strategic partners that include the multinational consulting firm PwC, and ethereum startup ConsenSys. In addition, Lakestar will chair the CVA’s new “Venture Building”…

Moral Food: A Fish’s Trek From ‘Bait to Plate’ on the Ethereum Blockchain

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It’s a little bit like “Finding Nemo” – except at the end, you get to eat the fish. During the Ethereal Summit, hosted May 11–12 by ethereum startup/incubator ConsenSys in Queens, New York, attendees were given an immersive experience to highlight the benefits a blockchain could have of tracking goods as they move along the supply chain. While blockchain’s use for supply chain management is being tested for a whole host of products by startups and tech heavyweights alike, during the summit, Viant, an ethereum-based supply chain management startup, focused…

BitGo Courts Wall Street With New Bitcoin Custody Products

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Big Wall Street firms now have new options for storing bitcoin. Announced Sunday, Palo Alto-based startup BitGo has unveiled a new suite of custodial services aimed at institutional investors who may be eying the market with interest. The product launch notably builds on BitGo’s move to buy Kingdom Trust, a US qualified custodian of traditional financial assets, in January. But while that acquisition is still awaiting regulatory approval, that isn’t stopping BitGo from bolstering its offerings. BitGo head of product Tracy Olsen indicated that the launch – which finds BitGo…