Posts Tagged: blockchain

Amidst Talk of Blockchain Being Disruptive, Geopolitical Analyst Sees It to Be Out Of Date

Amidst Talk of Blockchain Being Disruptive, Geopolitical Analyst Sees It to Be Out Of Date

Amidst the talk of blockchain technology being the most disruptive in a decade after iPhone, there is one person who sees the technology to become out of date. However, the founders of Geopolitical Futures, George Friedman, did not give the time frame for it to happen and merely mentioned that it would happen one day. That does not mean that he does not see the usefulness of the technology, but he sees it be an old-fashioned one.

Encryption Technology

Friedman is the author of “The Next 100 Years: A Forecast for the 21st Century.” The founder of an online publication that is focused on the prediction of international affairs. Future said that he did not come across any encryption technology, which could not be broken. He referred to the intelligence services of the United States, Russia, and China and raised doubts that blockchain technology could not be decrypted. He thinks that the new age technology is “one of those hypes.” He believes that people are making a big profit from unexpected claims.

Interestingly, during the international conference on Cyber Security in January, the Federal Bureau of Investigation (FBI) director, Christopher Wray, indicated that they could not crack more than 7,800 devices. The FBI badly wanted to crack since the agency believes that it contains key information in respect of investigations during the period 2016 and 2017, cointelegraph reported. This apart, he pointed out that 50 percent of the devices, which were safeguarded by encryption, could not be accessed.

A report indicated that the American National Security Agency (NSA) was apparently in a position to spot the location of bitcoin users throughout the world. This was based on classified documents offered by Edward Snowden.

It was quite natural that the NSA handled this with the establishment of a procedure for not only harvesting but also analyzing and processing internet traffic throughout the globe. The security wing has reportedly used a program as if it was the most popular anonymizing software. Aside from these, the agency’s corporate partnerships have allowed it to have a secret internet monitoring program to oversee communications. This was meant to be used to get data directly from the fiber optic connections, which structures undergird of the internet.

Different Opinions

Though the technology is used mostly as a platform for cryptocurrencies, it is also being looked at for exploring in other sectors too. Similarly, while some of the experts think to be a disruptive one in the current decade or at least for a decade, there are others who do not think so. Taking a different stance is nothing new. However, what matters the most is that it should be backed up by supporting events or documents.

In any case, Friedman does not think that blockchain is not useful and that how far and how much is the question that he seems to be asking. There are already several financial service providers, and supply chain management is exploring the possibility of using the technology. It could be a premature thing to write it off completely.…

Blockchain Technology to Power News Outlets

Blockchain technology is now being explored to power a news outlet in Colorado. Though their skeptics about the new age technology terming it as a “hyped” one, it is gaining traction in different sectors beyond the fintech sector. This was also quite evident when former editors and journalists of Denver Post have embarked upon a plan to unveil a local media outlet. They have formed an alliance with Civil Media Company, a start-up of blockchain enabled-ConsenSys.

Online Newspaper

The group of journalists, who had to leave the Denver Post, is aiming to establish a new local online newspaper named “The Colorado Sun,” cointelegraph reported. Their move came on the back of multiple factors like layoffs in the company apart from the worsening morale after a change in ownership of the newspaper. MediaNews Group, which is being controlled by New York hedge fund firm Alden Global Capital, has acquired it and managing it with the help of a subsidiary, Digital First Media. The alliance only demonstrated that technology could be used beyond the platform of cryptocurrencies.

The newly established, The Colorado Sun, would make use of disruptive technology with the help of civil to store data. The group of journalists is aiming to fund the project in the initial stage through a grant from civil. Once the online newspaper is launched, the group’s objective is to make it a community-supported and journalist-owned team. The journalist’s group’s website indicated that it would focus on the only narrative but also on investigative and explanatory journalism. Aside from that, the portal will not have any ads, which means ad-free.

The journalist’s group thinks that the State is going through a big evolution. For that purpose, the group is also engaged in a Kickstarter campaign for the proposed outlet. They are also planning to raise about $75,000 in the next month, July. Since there will not be any ads in the online newspaper, the team is planning to make it a subscription based one. This was also evident in their campaign page.

Their move meant that it would have to rely on local supporters to survive as the media companies see pain due to the availability of free news content. However, the group appears to have understood the compromise that it has to make if it opts for an ad-driven media firm. Similar is the case in respect of shareholder interest-powered content. Therefore, they are betting on the content.

Ethereum Network

Significantly, Civil Media Company would operate on the network of Ethereum with the help of a decentralized governance model. The company also has a plan to throw open to 1,000 publications before the current year ends in the United States. The network will be enabled by Civil’s forthcoming digital token called CVL. This would hold publications to a specific set of professional and ethical standards.

Recently, there has been an announcement that blockchain technology would be deployed for supply management solutions. This is apart from the financial service provides showing tremendous interest in the decentralized solutions.…