Japanese Internet giant GMO launched bitcoin mining operations

Japanese Internet giant GMO launched bitcoin mining operations

Japanese Internet giant GMO group announced today that it has been through the European legal entity launched a new crypto currency mining business, the purpose is to better recommend encryption currency.

GMO launches bitcoin mining operations

The Japanese group? GMO group today launched a new crypto currency mining business, the business will use existing technology from the Nordic facility (mining mining center). The new business will be gradually phased development, the company’s announcement in December 20th in detail.

According to the company website, GM Internet will use 7 nm in the mining process (nm) chip technology, the partners are jointly developed with the alliance, the partners have semiconductor design technology, with the development of high performance computer (mining board). The company plans in the first half of 2018 to carry out the “mining in the next generation of mining operations.

Just a week ago, GMO proposed to use bitcoin to pay about 4700 employees, in order to promote the progress of the whole group encryption currency. As for the reason behind the new initiatives, the company explained:

Currency mining operations through the use of encryption we accumulated in the Internet infrastructure and financial aspects of the Internet into the proprietary technology alliance partner, is currently with a semiconductor design technology to develop research and development of high performance computer, namely “new currency”.

More game player to mining

Tokyo based GMO group has more than 60 companies in 10 countries. It enters the bitcoin mining industry may concern mining dominant Bitmain welcome.

Bitmain is a professional mining hardware (including ASIC chip) market leader. The GMO group is able to occupy the main market in Chinese remains to be seen.

7 the development of nanotechnology GMO is said to be four times higher than the current bitcoin mining industry standard. Mining software developer RSKLabs CEO Diego? Gutierrez (DiegoGutierrez) said earlier that 7 nanometer chip is the next generation for miners. He explained that if the field has not yet begun, other miners will certainly follow and create their own 7 nanometer chip.

Xue Hongyan: what does it mean to appear and bitcoin blockchain

Xue Hongyan: what does it mean to appear and bitcoin blockchain

Any kind of new technology, new formats, in the not by the public attention and understanding, enthusiastic supporters and practitioners usually head part of such propaganda: This is the technology, progress, mode of a landmark, will significantly enhance the efficiency, subversion has “anachronistic” old, old giant model. The rise of electricity providers, so; the rise of Internet banking, so too; shared economic rise, but the outcome is not so.

At this stage the block chain and bitcoin, also at this stage. The former is regarded as the fans after the steam engine, electricity, information and Internet technology, the core technology has the potential to trigger the fifth round of subversive revolution; the latter was regarded as fans a new global currency, can effectively break the dollar hegemony system, will also impact hammer currency issued by the central bank. Is this really the case? How to know restraint.

There is no electricity supplier to eliminate line supermarkets, its development has already stepped into the integration of online and offline retail Internet financial new stage; never have the ability to subvert the traditional finance, is also actively with the traditional financial openness and cooperation and win-win development; while sharing economy, never seem to who can subvert. The block chain and bitcoin? Is the impact, or subversion, cooperation and innovation?

Dialectical blocks to the center of the chain”

Block chain to the center of the people talked about behind to the center is to trust, and trust is behind the consensus algorithm and cryptographic function of blessing. Since the block chain can largely solve the trust problem, those institutions rely on center “to solve or alleviate the problem does not trust” and the existence and format will no longer have the existence? The reality is not so. Take a simple example, such as the application of intelligent technology based on block chain contract in automobile trading area.

In this example, the transaction is written record vehicle real-time block chain, smart car uninterrupted accept new block block chain, and update the electronic lock and the public key in the car in the remote signature key. When the car ownership through block chain transfer, remote control before the owner of the car to work, get a main remote door and start the engine power, realizes the ownership and use of the equivalence, which can be achieved to the center.

From a technical point of view, this process is very efficient and does not require dealers, don’t even need the registration department. But the problem is, if we only said confidential private key ownership, then the digital encryption becomes very important. Even if the technology itself is difficult to break, but the man himself is most likely to be a breakthrough, which in turn makes digital security encryption is suspect. At this point, the user how to save one’s key? Electronic filing, illegal software or phishing software it is possible to steal the car to the public; the third party storage, how to avoid insider collusion? Or take a small note, when the user lost the car, will become a pile of scrap metal.

Also, if the deal had a dispute, who will make the final arbiter? Technology or rules? The technical aspects of the people tend to regard law as a set of logical rules and algorithm consists of the system, the system must be able to get a clear verdict; however, the reality of the legal provisions and rules is not only long, there are people based on the understanding and interpretation of social development, in order to better to solve the original formulation of the law did not expect a more complex case.

Therefore, it is not completely rely on the block chain to the center, and completely to the center may not be our pursuit. In fact, in our real world, no system is completely decentralized, there is no one in the system is completely decentralized. Such as e-mail, anyone willing to, can design your own email server, but the actual situation is that only a small number of e-mail service providers to occupy the core dominance in this area.

So is the application of block chain technology in the financial industry, not the center of the traditional financial system and the giants down, but as a kind of new idea and technology innovation, to improve the traditional financial system in the part of the business process and solve the potential problems of traditional financial system over the center brings, promote it better the center and to the center of the balance, and ultimately enhance the efficiency.

After all, just can’t deal with the complexity of technology, human society has to adapt to this, the complexity of the traditional models and formats, but could not only improve, subversion.

Bitcoin as an alternative currency “defect”

Has a strong significance bitcoin concept of existing money issuance and circulation system, but bitcoin itself is not a substitute currency, which is due to whether the government allowed more source internal restrictions on its own.

Transaction processing capacity. The size of each block is defined in the 1M, each transaction is about 250 bytes, so each block for a maximum of 4000 transactions. Because each recognized block average generation time was 10 minutes, mean only 7 transactions per second.

This means that, along with the block chain transactions unpopular, many transactions have to wait in line waiting to be written into the bitcoin blockchain. Transaction processing capacity constraints which in turn will affect the scope of bitcoin as a digital currency and scene.

The underlying cryptographic algorithms may be compromised. The hash function bitcoin selection has a collision resistance, but there is no hash function with anti collision characteristics of the true probability, just a compromised low. The problem is, once breached, means that the security of the whole bitcoin will be a fundamental threat, the bit currency may be not worth a hair. In fact, the only concern itself, it will affect the confidence of people for bitcoin.

In addition, the total amount of bitcoin, segmentation and block chain reward structure, will be in a certain stage of bitcoin development has become a constraining condition. To solve these problems, need to publish a new version of the foundation, but in the distributed framework, and can not ensure that all nodes are able to update the latest agreement, the release of a new version will bring the bifurcation problems.

Of course, through the introduction of strict verification mechanism, can be done in a certain period of time to achieve the soft bifurcation of the tolerance of the underlying protocol update brought fundamental impact will not bitcoin value, but instead of non equal to its currency indeed.

At present, the positioning of bitcoin, the industry consensus is the “digital gold” or “quasi digital currency”, rather than digital currency, through the third party intermediary platform standardization and supervision, will effectively focus on trading, can become a new type of investment assets. The “quasi digital currency” feature is more digital on the evolution of legal tender to provide ideas and technical implications, what about the alternative.

Finally, about bitcoin anonymity and money laundering risk, has been controversial. Indeed, don’t ask you to join in the true identity is one of the core concepts of the bitcoin system, but bitcoin transactions do not truly anonymous, a user with a different identity to do different transactions to be eventually tracked; and through the bitcoin wallet, exchange and other three party service institutions do transactions, by the anti money laundering regulatory agencies, are in fact behind the real name system.

The impact and subversion, or cooperation and innovation?

When we discuss the use of technology innovation means to replace or partly replace traditional system, we are discussing how to in the old law, social and financial institutions in the redistribution of power.

For the block chain and bitcoin and other new technologies, new things, open or closed attitude we should take after all, also depends on how they fit into the existing pattern of economic operation and financial formats. Speed and step into the new technology and is closely related to its own characteristics, but also depends on the existing economic activities and regulatory agencies to effectively control and management, so as to achieve such an ideal state: innovation is necessary to effectively lead the new technologies, but also control the risk in an acceptable range.

The second half of 2015, the Internet financial regulators will “limited to a small” inclusive field, will control the new financial potential risks in a reasonable range. At the same time, the Internet Finance and traditional finance business slowed down to grab the rhythm, accelerate the pace of financial technology investment and exploration, mutual fusion of gold and traditional financial development, open cooperation began to enter a new stage.

For the block chain and bitcoin, if so, the side to side regulatory intervention, to encourage and support, promote cooperation and integration of new technologies and old formats.

After all, in the long run, block chain is likely to become a universal technology in global financial markets, to further promote the opening and globalization of the financial market, and based on the digital asset block chain technology is expected to change the current global assets territory. To seize the opportunities and grasp the technology chain blocks the development of digital asset pricing, to focus on the long-term national financial security and financial strength, might be another opportunity.

Author: Xue Hongyan (director of the Internet Suning Financial Research Institute of financial center)

Source: people.com.cn

Offbeat dancer of future war: bitcoin went to the “military circle” what

Offbeat dancer of future war: bitcoin went to the “military circle” what


Can you imagine that bitcoin can display skills to the full in military applications? The day before, Estonia and NATO is trying to use the blockchain technology to develop the next generation system, to realize the modernization of the NATO Cyber Defense platform. Coincidentally, DARPA has released a concept of distributed information system security books based on block chain technology. In order to US military intelligence collection against terrorists, trying to “reward” information providers, bitcoin as a reward. Block chain and so on military application of brain hole wide open, becoming the sparks of fire can start a prairie fire “situation. The future, block chain technology not only can be used for incentive performance intelligence, can also be used for military weapon equipment life tracking, human resource management, military procurement, logistics and other aspects of military intelligence. The block chain of future war “offbeat dancers”, is very likely to subvert the future war quietly.

The rock block – how to “make the world money chain”

If you want to read the block chain in the future battlefield “unique dance”, must first start from bitcoin. A bitcoin first proposed in 2009, will be launched by the Internet platform investment and quickly set off a boom, has become the most typical application block chain technology at present.

Although bitcoin is mixed, but the chain block behind but showed great interest. Block chain technology is a digital books to the center of the system, including bitcoin bitcoin transaction records began running complete. Is this model to the center of the block chain based protocol, people can safely store or exchange bitcoin, relevant information can not be forged or tampered with, the implementation of automatic intelligent contract, without any centralized audit institutions.

The birth of blockchain technology, from the solution called “computer science problem of the Byzantine Generals”. Generally speaking, is composed of a mutual lack of trust in a network of nodes, each node to achieve credible consensus problems. Dynamic cycle through the introduction of the “competition – Verification – synchronous – competition” to solve the problem, the blockchain technology will eventually become new technology platform allows individual through the third party certification and carry out effective credible cooperation.

In the bitcoin system, “money” and deal with the block chain is closely related. The process of the dynamic process of the blockchain is the new currency production and circulation, is the foundation to support the whole bitcoin system is safe, orderly and reliable operation. The need to constantly update and maintain the chain block, like “minting machine”, the latest transaction records package is loaded into the end of the chain, and the formation of a new block.

Block chain technology is the technical support behind bitcoin, which itself is composed of a plurality of connected blocks, each block is like a “book” in a page, records the transactions within a period of time, and through the different blocks between before and after pointing, all the blocks in order to form a chain block. At present, the block chain technology based on P2P data transmission, file sharing, asymmetric encryption and distributed storage technology, is the underlying technology and application popularization direction to accelerate the development of.

Hold the pipa: “trust making machine” out of the ordinary So that is what it is.

Of course, already implemented in the algorithm on block chain technology as too abstract and difficult to understand. In fact, the block chain is similar to a “trust machine”, making it appear that both sides trust strangers. Block chain technology can generate a set of records, time has not tampered with the trusted database, through this technology, even if there is no neutral third party, but also can realize the cooperation between nodes. At present, the block chain from the digital technology has been gradually extended to the single currency, smart contracts, networking, identity authentication, electronic commerce, social communication, file storage and other fields.

Among them, the international financial giants have begun to try to use the accounting business block chain technology to deal with complex, companies such as IBM that block chain is the core technology to solve the networking and information security, data storage, interactive processing. The original design is to realize the block chain technology distribution across the network, which makes it an ideal choice for cross organizational business network. Block chain to trust the characteristic brings scalability for the data encryption standard to ensure that the content can not be achieved for decentralized data tampering, to further enhance the security of the data. In addition, the block chain can protect the circle to encourage people to get out of the firewall, data sharing. It is characteristic of “personal independence of conduct” block chain technology that makes it seem so out of the ordinary.

The successful use of bitcoin, fully demonstrated the block chain technology transparent, safe and reliable, excellent characteristics such as distribution share. Inspired by this, there are dozens of international technology giants are jointly developing “super books” project, trying to create a transparent, open, distributed to the center of the books, so that more applications can more easily build in block chain technology. The future, the “trust machine” will also bring us including basic application, upgrade the application and expansion of the application of “surprise”.

Based on the application of bitcoin mainly relying on the existing system, to have the price as the medium of exchange, as the carrier of value passed between users. Including shopping, payment, transfer or liquidation of network transactions can take block chain technology “ride”, to further enhance the safety of financial life. Upgrade the application is to block chain technology transfer, technology upgrading and transformation, and fully explore the blockchain, realize safe and reliable data storage. The future, personal electronic archives management, charitable donation registration, data backup and other permanent cure and can see the figure of block chain technology. The extended application of block chain technology innovation, generalization and promotion, “trust manufacturing machine” will reconstruct the existing network rules, establish the network credit system, and in the future of the Internet of things in the world display skills to the full.

Of course, the block chain technology although prospects, but many problems still need to solve information security, network construction and supervision control etc.. Although you can use the asymmetric encryption technology for information security is strong, but it does not mean that the safety block chain technology “as strong as iron”. How to build a peer-to-peer network to the center, how to realize the effective supervision of user information is an urgent need to solve the problem.

Just unfolding — in the field of military application prospect

In military applications, block chain technology has inherent information integrity and other characteristics, from the beginning to realize the organic combination of data storage and data encryption, the exhibition in the field of military fist.

Battlefield information protection. No matter how to change the form of war, information integrity and confidential information protection is the key to determine the outcome of a war. Though the modern military system has been established and stored separately, multiple authentication operations and a series of security measures, but the existing system issued false command and not possible without direct breakthrough. With the help of block chain technology, can improve the safety of battlefield information protection in a certain extent. At present, DARPA is creating a secure information platform through block chain technology, the research can provide help in the protection of the blockchain highly sensitive data, and to study its potential application in military satellites, such as nuclear weapons in several scenes, the future is likely to support the troops.

Weapon equipment management. Weapons and equipment from the project and the development of production and delivery service until retirement, design scheme and test results, the technical conditions of a large number of data of the whole life cycle including the record. The print and electronic media are hard to guarantee the safety, transfer transfer difficulties, lack of effective supervision and other security risks. By introducing the blockchain technology, can form a parties can participate in the preservation of the distributed and supervised file registration network, to further improve the security, convenience and reliability of weapon equipment management. Similarly, in the military human resources management process, can block chain records each soldier of the curriculum vitae, the formation of personal electronic files cannot be tampered with, technically solve existing problems of archives management system.

Intelligent military logistics. Modern military logistics intelligent era, intelligent storage, intelligent packaging, intelligent transportation and intelligent distribution of intelligent Internet of things will cover the whole process of military logistics. Can effectively solve the problem of network communication, data storage and system maintenance and other problems faced by military logistics intelligent block chain technology, to further improve the logistics system survivability, realize the freedom of information interaction, to ensure the orderly and efficient operation of the system. With the help of block chain technology, will achieve the qualitative information from the free transfer to the free notary, is likely to become the future network based protocol and credit paradigm “subversive” technology.

Covert intelligence incentive. In recent years, the full feature mining anonymous block chain in the record deal, and its application to the field of information collection, information providing incentives for covert orienting payment. As everyone knows, the information provider or the “informant” to secret identity and whereabouts, the traditional cash transfers, payment is very easy to track and lock. As a medium of payment by bitcoin, you can skillfully fracture payment channels, let the information flow of funds is difficult to trace, and effectively protect the safety of the intelligence officers. Among these, bitcoin trading platform to play the “black box” role in the whole process of payment, the hidden transaction key information.

Greg Maxwell on bitcoin way

Greg Maxwell on bitcoin way

“I seem to disclose details of solutions to some other people to their own research.”

Although this expansion dispute BitcoinCore developer and chief technology officer Blockstream GregMaxwell in bitcoin for several years and then set off a new round of debate upsurge, he admitted that the last week he created the story, he is also somewhat at a loss.

At that time, the Maxwell issued a public statement, referring to a unnamed miners (most people think it is a bit, Chinese) is the private use of a more efficient mining technology, making them than the other miners to occupy a more favorable advantage. However, the development of the plot is intensified he claimed that this is the company does not support the isolation of witness (SegWit) reasons, and SegWit is the preferred technique for network capacity problem solutions, and may accidentally cut off the company’s use of technology.

This post a Maxwell have inadvertently set off a grassroots movement, promote the implementation of SegWit through the whole way to avoid the miners, which is currently the most new technology scheme.

This movement is called the user to activate software (UASF), bifurcation at least two group is committed to promoting the idea, and for whether the network can be and whether in this way should upgrade technology has been much discussed.

However, Maxwell believes that the process of user and node operators designed to organize the technical change in some cases may be the preferred way to upgrade the network.

Maxwell told CoinDesk:

“After all, I think that even if we have a magic crystal ball, then can get whatever we want, we still will choose to take the UASF this way.”

Both parties

However, UASF is safe? Although the community support for the unprecedented, this upgrade method is controversial.

Maxwell mentioned that, like other programs, this change also needs to be in the ecological system of “wide” support. However, the problem is what is difficult to measure the bitcoin users really want, and whether it will receive such support.

Many people pointed out that bitcoin improvement proposal (BIP) 16 is a successful UASF, but in fact it is a scheme not completely smooth example. The scheme is activated, a pool in over several months in continuous mining invalid block (though this is probably very unfavorable for the miners, but for others it may not be so).

Maxwell said, this is the developers have been in use of different schemes. If the miners work to upgrade and enforce these rules, then the deployment of consensus rule changes will become easier.

Maxwell also believes that despite these challenges, some form of UASF is perhaps the best choice.

He believes that if some of the miners did have a conflict of interest in the operation of AsicBoost mining, controlled by bit replacement scheme — it will be, because they do not want through economic reasons solutions.

Moreover, in his view, there are other tradeoffs to consider:

“Don’t take measures to upgrade will produce cost. As a community, we need to carefully consider.”

a word of advice

On this basis, Maxwell advocated the use of a UASF form to solve what he mentioned in the message list in the mining practice, but the introduction of other than plan to slow. Maxwell said that this plan is still under discussion, may be a few months after the developers begin to write code.

However, so far, a number of other organizations are looking for a faster solution.

BIP148 is a UASF proposal and has its own website and twitter account. The proposal for some company announcement said, these companies support the current social media dominant ideas. (it is estimated that only 5% of the Monday bitcoin company BIP, now this figure has risen to 15%.)

However, Maxwell is still more cautious.

He said: “they put forward the frame of time, and I think the general developers this may feel uncomfortable.” But he did not deny this work.

“Ultimately, bitcoin is owned by the user and have bitcoin by. I really want to see these programs will finally go where.”

In general, Maxwell is largely to discuss this process from the academic point of view, the recent development is seen as an important part of the final decision, but he seems to think that the community memory is a very natural thing in difference.

But still optimistic

The life changing stories aside, the community on the block size argument has been very close, but focus on Twitter and Reddit.

At present, the most obvious problem is that special charges will lead to contrast, what?

As for the community how and where to find the missing link in the Maxwell story, there is no answer. However, he pointed out that other people have found out his copy, and the release of the Reddit.

In addition, although he plans to release more information about talking about chip, but he said it was not his priority to handle matters, because it is already open, bit chip testing with AsicBoost.

China has denied the bit business as its mining as charges, also denied that this is the reason why they do not support SegWit.

For all the views of the past week, Maxwell on the bitcoin network’s future prospects, and when necessary to debate the expression of views is still very optimistic.

He said: “after all, this is a consensus system.” And concluded:

“I think people are often stuck in the debate, and this situation is indeed a part of the process. This is very natural. In the end, it is these make bitcoin more powerful and safe.”

The Russian authorities to give up the implementation of bitcoin ban

The Russian authorities to give up the implementation of bitcoin ban

Since the Russian bitcoin wavering attitude, made bitcoin enthusiasts very confused. A moment that used to ban bitcoin, the suspected person involved in the transaction into prison; while they encourage the use of bitcoin free. Recently, Russian Deputy finance minister AlexeiMoiseyev said in an interview, the party did not ban bitcoin. That is to say, Russia encourages bitcoin people can freely use air plant.

Bitcoin ban “is not the right choice”

Although the bitcoin ban failed, but in Russia, bitcoin mining is still a big problem. Because the mining process will produce a new currency, which is prohibited by law in russia. The Treasury Department must ensure that the Russian central bank is the banking system the only one has the right to issue currency. However, in addition to mining, bitcoin users seem to be at home and abroad virtual currency transactions are smoothly.

Moiseyev said in an interview:

For bitcoin ban has been very perfect, but we will not immediately release the contents of the bill is likely to change. I must go now and a meeting of experts, carefully consider the next step. Now I can only say that, in view of the development of technology, directly prohibit bitcoin is not the right choice.

Intelligence said bitcoin was mostly used for illegal activities, but did not provide details. Russian officials said to verify the authenticity of the information. Moiseyev said that the intelligence sources in europe. But the problem is not serious enough to completely ban bitcoin in Russia, in which there exist contradictions. The information may refer to the dark net or deep in the illegal use of digital money more.

We must prevent criminals use bitcoin illegal trading and money laundering. We provide some official information from Europe can be seen on nearly 80% of all suspicious transactions and money laundering and other illegal activities, and is conducted by bitcoin.

However, in recent weeks, the Russian people are increasingly interested in bitcoin. At the beginning of August, LocalBitcoins.com bitcoin purchase volume reached a record high. The Russian government also said that the future will carry out liquidation using bitcoin block chain technology.

Moiseyev said:

Of course, we will not forget the financing of terrorism is the main use of bitcoin. We will ensure that the central bank is the only currency center. However, if you want to do anything else with bitcoin (except currency outside), it is your freedom.

In September 2015, the Russian Federation savings bank (Sberbank) executive GermanGref has said publicly on encryption of prohibition against currency. He said itself holds some bitcoin, as experts in this field, he believes bitcoin is not absolutely prohibited.

Holland bitcoin payment providers launch EmailPay transfer service function

Holland bitcoin payment providers launch EmailPay transfer service function

Holland bitcoin payment service provider Bitwala EmailPay launched a new transfer service, users only need a receipt of the e-mail address, and then enter the amount of funds to transfer it.

EmailPay is a mail payment service. If you want to pay a sum of money to each other, but you do not know the relevant information of each bank account, only know each other’s e-mail address, then Emailpay can help you solve this problem. The user needs to pay 0.5% of the transaction amount of the transfer fee to Bitwala. Complete user registration information monthly maximum transfer of 50000 euros.

This process is very simple: the user to the Bitwala website bulletin board, click “new bills” (the New Bill) button, and then fill out the details of the transfer of information, identification information, agree to the terms, you can use bitcoin transfers.

EmailPay launched QuickPay this function in May when the EmailPay service is the extension of the QuickPay function, Quickpay removed the login name and password for this operation.

Bitwal CEO J? RG von Minckwitz said: “in May, we have hundreds of pen bitcoin transactions. Although we do not know how many of these transactions are carried out through the QuickPay, but our QuickPay function really receive feedback from our users very good.”

Bitwala is a newly established company, open only to the euro area service. When Bitwala started to provide services, each transfer fee is 3% (or at least 5 euros), so for users of the transaction fee is a bit high.

A few months ago, we have been on our user survey, listen to their feedback, the main opinions of users is the transaction fees are too high, requiring lower fees. We will listen to The needs of users, and will try to meet their expectations.”

Bitwala provides transfer services for 19 EU countries: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy,. Scandinavia, Lithuania, Luxemburg, Malta, Holland, Portugal, Slovakia, Slovenia and spain. Recipients must be in more than 19 countries in the capital, the sender can come from any countries and regions.

“A few months of our transfer business needs more and more customers, especially for overseas customers more transfers. The majority of customers from Eastern Europe, Greece, Romania and Afghanistan Albanian and other countries. In addition, there are from North Africa and India customers.”

Bitwala is the first to provide bill payment service, but this time, the Bitwala service is also some enterprises for commercial purposes.

J? RG von Minckwitz that EmailPay payment convenience will contribute to the popularization and promotion of bitcoin in the eu.

The US government is looking for a block chain solution for the tendering system

nnnFAStlane is a contract launched last year to simplify the process of small businesses, especially IT companies participating in government contract bidding. The US Federal Government General Services Administration is looking for a contractor to help FAStlane assess how FAStlane integrates block chains. The goal is to use DLT, automated machine language learning techniques and artificial intelligence to improve the FAStlane process. The requirements for the system are not restricted to the block chain type and can support smart contracts.n
nnTranslation: Annie_Xun
nThe main logistics agency of the US government sees the chain as a way to redefine the contract review process.n
nJune 19, the US Federal Government Administration General Administration Administration (GSA, General Services Administration) inquiry, looking for help to assess FAStlane how to integrate the chain chain contractor, FAStlane is launched last year, the system, in order to simplify small businesses, especially IT companies Participate in the process of bidding for government contracts. The inquiry is for selection of suppliers, especially the screening contract performance cost estimates.n
nThe agency website said:n
nn”The inquiry is intended to allow contractors to support the development of the concept of FAStlane’s new initiative review process based on DLT (distributed book technology), automated machine language learning technology, and artificial intelligence.”n
nnSupplementary documents show that GSA wants any “unrestricted block chain type and does not profit from mining”, as well as block-chain-related projects that support smart contracts.n
nAnd the system must include “with a number of cloud platform redundancy settings, high availability, key management of the licensed books.”n
nShortly before the inquiry, GSA officials announced how the agency could explore how block-chain technology could improve support to federal agencies.n
nThe statement states at least one way that the institution uses a chain chain, that is, the supplier can get a federal contract through the process. Although this is not necessarily a result of the concept of proof of the project, but the inquiry highlights the public sector early use cases.n
nGSA said the inquiry will continue until July 10.n

Visa to carry out B2B block chain new projects and recruiting block chain experts

nnnIn recent years, Visa announced the use of Chain’s Enterprise Chain Chain Infrastructure Chain Core, a Visa B2B Connect pilot, to provide a unified settlement management process for pilot financial institutions participating in the project through the Visa standard process. For the financial institutions pilot project to provide a simple, fast and secure global B2B payment processing.n
nnCompiler: Annie_Xun
nVisa announced that it will conduct a chain-based B2B payment pilot. The statement reads as follows:n
nnOver the past year, Visa has been closely monitoring the potential of the chain-chain technology and its changes to pay for the industry. To assess the best use cases for customers and their consumer groups, we realize that one of the greatest opportunities is international B2B payments.n
nSo recently, Visa has partnered with Chain Chain Startup Chain to develop proof of concept and platform to provide simple, fast and secure global B2B payment processing for financial institution pilot projects. And is about to launch a new solution for Visa B2B Connect. The program uses the Enterprise Chain Chain Infrastructure Chain Core, which is end-to-end through Visa, and Visa B2B Connect will provide a unified billing management process for pilot financial institutions participating in the project through the Visa standard process.n
nAs a payment technology company, we have always sought innovative digital technology that may improve our customers’ business while ensuring maximum security, transparency and convenience. Visa B2B Connect will do all the goals, make meaningful upgrades, so that corporate customers can pay in the world. So we launched the first batch of financial institutions pilot, plans to start early next year.n
nOn Sunday, October 23, at 5:40 pm, Adam Ludwin, co-founder and CEO of Visa’s Global Solutions Director, will deliver an opening keynote address at the Money20 / 20 conference detailing the Visa B2B Connect program.n

nIn addition, it is understood that Visa is recruiting an experienced block chain specialist for this purpose, and its recruitment statement specifically indicates that the candidate should have a positive working experience in the work directly related to the Tai-fang and Bitcoin block chains. The position also explains that Visa is working to link Blockchain technology to the current banking model.n

ANZ Bank, Western Pacific Bank, IBM completed the block chain test, digitized the bank guarantee process

nnThe Bank of Australia and Australia, Westpac, IBM and the shopping center operator Scentre Group, have successfully completed a block chain test project to digitize the bank guarantee process for commercial real estate leasing. The test project canceled the current paper bank guarantee documents, a single source of information, thereby reducing the possibility of fraud, while improving the efficiency of bank guarantee business process.n
nnTranslation: Clovern

n n
nCommercial Banks Australia and New Zealand have collaborated with Westpac, IBM and the shopping center operator Scentre Group to successfully digitize block-chain testing of bank guarantees that will be used for commercial real estate leasing.n
nThe report said that the pilot project using block-chain technology to eliminate the existing paper bank guarantee documents needs. As a result, this creates a single source of information, thereby reducing the likelihood of fraud and increasing efficiency.n

nNigel Dobsonn
nNigel Dobson, general manager of digital business for digital banking at ANZ Bank, said:n
nn”We have always wanted to avoid speculation around the block chain and distributed taxonomy technology, but rather focus on the actual deliverable use case.” This proof of proof demonstrates how we can work with our partners for our customers Development of digital solutions, while the industry can be widely used. “n
nnThe block-chain test project uses distributed classification book technology (DLT) that is supported by Hyperledger Fabric V1.0, and Hyperledger Fabric V1.0 is a block-chain framework initiated by the Linux Foundation.n
nThe partners who participated in the block chain test project jointly published a white paper detailing the work of the solution and could be used to rely on other scenarios that banks secured. The test project will also address other inefficiencies in the current bank guarantee process, including the challenges of tracking multiple changes and reporting on the state of the guarantee.n
nAndrew McDonald, general manager of corporate and institutional banking at Western Pacific Bank, said:n
nn”This is related to the elimination of fraud costs, errors and operational risks, and as long as the bank guarantees are still based on paper and manual issuance, these risks will continue to exist, followed by encouraging all industry participants to adopt this technology so that we can In addition to this technology there is no reason why it can not be applied to other industries. “n

US General Services Officer: Block Chain Procurement Prototype Advancing

.article-content-wrap p {margin-top: 10px; margin-bottom: 18px;}n.article-content-wrap blockquote {npadding: 11px 22px;nmargin: 0 0 22px;nline-height: 28px;nborder-left: 5px solid # ffcd04;}nn

nnnStroke: The US Department of General Services developed a block chain prototype can replace the IT project dedicated procurement system FAStlane. Head of the Federal Procurement Service Center of the General Services Department believes that block-chain technology can link the various parts of the entire procurement process to achieve efficient interaction between them.n
nnTranslation: Annie_Xun
nThe US government will soon use the block chain to shorten the IT product procurement bidding process.n
nCoaseDesk reported in June that the General Services Administration (GSA) was also in the early stages of developing a block chain prototype and could replace the IT project-specific procurement system FAStlane in the future. The project is part of the General Services Department’s survey of distributed books, which is part of the US government’s large-scale block-chain project.n
nIn a dialogue with the public sector IT website MeriTalk, Jose Arrieta, head of the Federal Acquisition Service, the General Procurement Service, which oversees the IT procurement process, is bullish on the potential of the technology in the procurement process. He said the FAStlane prototype work continued, and September 30 was a milestone in the proof of process.n
nPerhaps the most important thing is that he believes that within the next month, once the technology is widely deployed, within a few days you can usher in approval.n
nn”One of the most important things about block chains is that it creates transparency and accuracy between the two parties.”n
n”We believe that the use of block chains can reduce the number of days to the number of units.”n
nnArrietta said that on the one hand is the IT procurement process different parts of the “suture” ability, behind the idea is that different parts of the system can be more efficient communication with each other.n