The SBT Venture Capital Fund, financed by Sberbank with 100 million US dollars, has shown great interest in Bitcoin and the Blockchain technology. Sberbank is currently Russia’s largest bank.
The statement of SBT partner Mircea Mihaescu on Roem.ru stands in stark contrast to the statements of various Russian government representatives who want to punish the use of Bitcoin profit as an illegal act. Read more about it in this review about Bitcoin profit.
In an interview, Mihaescu was largely hostile to legislation and regulation and said that laws often lag behind innovations and as such should not be seen as a central concern of global entrepreneurs.
Mihaescu also said that the SBT is interested in investments that have an impact on the financial sector as a whole:
“We have our own interests. We are not interested in equity funds or the purchase of Bitcoins, etc. We are more interested in the fundamental changes that affect the whole financial sector.
Mihaescu believes that the Bitcoin protocol as an innovation has such potential.
“The current banking system with more than 10,000 banks could be replaced by the blockchain,” says Mihaescu.
The SBT Fund was launched in 2012 with the help of a $100 million Sberbank financial injection. At that time it was said that this figure could increase sevenfold within the first three years. The SBT fund has attracted interest from a number of industries, including big data, cloud computing, mobile payment and home banking.
Although Mihaescu was mostly positive about Bitcoin profit technology, the SBT Fund is also interested in investing in Bitcoin profit alternatives.
For example, he spoke out against the concept of Bitcoin mining, i.e. the process of generating digital Bitcoins. Mihaescu was afraid, however, that the government’s ban on Bitcoin was the right way to protect himself from the influence of the new technology.
“The prevailing opinion about Bitcoin is that the currency is mainly used by criminals and drug dealers. But do you know what currency they use? Cash! Interestingly, this currency is strangely not banned,” says Mihaescu.
Bitcoin friendly portfolio
The government representatives continue to assume that the Bitcoin ban will come into force in the spring of this year. The spring was already set in the past year as Deadline for the Bitcoin prohibition by the Ministry of Finance.
Since the first announcement of the ban, however, many entrepreneurs have spoken out in favour of more favourable legislation and various financial organisations such as the Bank of Russia have also expressed themselves increasingly positively.
SBT’s portfolio includes a large number of Bitcoin friendly startups. IdentityMind and the social trading platform eToro are only a small part of the companies that also serve the Bitcoin market.
Blockchain technology will not be used in today’s Bundestag elections. But will it perhaps be in 2021?
Today are Bundestag elections and we will all vote, if we go to vote, in the way we have always done – circles on a piece of paper will be marked and the pieces of paper will be counted again later by hand. PC software from the 1990s is then used for electronic transmission, in the hope that cyber attacks will not succeed.
Now there are certainly some intermediate steps between the status quo and the blockchain voting using digital signatures or tokens – a look at what blockchain voting could look like will nevertheless be taken in the following.
The core characteristics of the blockchain – transparency, decentralisation, peer-to-peer connections, no hierarchies and protection against manipulation – can lead to the development of digital Bitcoin news voting concepts. Finally, the problem with existing e-voting systems, which are computer-supported, is that they are susceptible to manipulation. In Germany, for example, the Federal Constitutional Court has ruled that digital elections do not meet the requirement of traceability (BVerfGE 123,39) and are therefore inadmissible for official elections. A more secure IT infrastructure, such as the blockchain technology can provide, could therefore be taken as an opportunity to modernise the legal guidelines for computer-assisted elections.
Although voting in Germany cannot be affected by cyber attacks, the electronic interfaces in the transfer of results can. As reported in detail in the last few days, the common voting software “PC-Wahl” was hacked by the simplest measures. So the need to renew the IT software is certainly there – so why not directly count votes via a blockchain directory that can’t be changed “just now”?
Various concepts are currently being discussed under the term blockchain voting. A possible option would be to issue each eligible Bitcoin news with a token (based on a crypto coin) that can be used to select the preferred candidate. All votes would be recorded and confirmed in the Bitcoin news blockchain, so that the counting of the ballots by hand can be dispensed with.
Human errors or attempts at manipulation can thus be practically ruled out. Especially in countries where elections are overshadowed by electoral fraud, blockchain voting solutions are ideal to circumvent loss-making or corrupt authorities or government officials.
Blockchain voting is also supported by the European Parliament. A discussion paper of the European Parliamentary Research Service emphasizes the advantages of blockchain technology and points out that blockchain-based e-voting systems can also increase voter turnout.
In fact, blockchain solutions for voting procedures already exist. With the KSI blockchain, the company Guardtime provides an already used option for cryptographically recording “authority and voting transactions”. You can find out how this works in more detail in our video report Bitcoin and Blockchain in Europe, where we spoke to Guardtime on site in Tallinn.
Bundestag elections 2021 – A case for the Blockchain?
Despite all optimism, it is very likely that no blockchain technology will be used in Germany for the 2021 federal elections. Experience shows that a long time elapses before innovations are adopted by the authorities and the legal framework is created.
In part, the slow actions of the authorities can certainly be excused; after all, Bundestag elections should not be used as an experimental field. Nevertheless, more digitalisation can and must be expected of Germany. Countries such as Estonia show that the term e-government is not only used to fill gaps in party programmes. E-government can be presented and blockchain can be part of this digital administrative transformation.
The Blockchain Bundesverband Bundesblock, which was founded just a few months ago, gives hope here. It seeks dialogue with politicians and demands, for example, that a public register be tested in Germany on the basis of blockchain technology by 2020 – so there is hope.
“Digital currencies don’t work” – a daring thesis. But I think I’ve had enough examples in recent years that confirm this – not just on the Bitcoin level, but much deeper down. Of course, it’s all a matter of time – but it might take a long time for that to happen in Germany.
Even if I don’t want to deepen the definitional assumptions behind Bitcoin profit technologies here, it should be said that not only the users of a technology make demands on them, but also technologies often require a rethinking of people like this: https://www.geldplus.net/en/bitcoin-trader-review/. This sounds paradoxical, as we actually use them to simplify our lives. That may be true, but especially when a technology is influential, revolutionary or “disruptive”, it changes concepts and habits that we have become accustomed to throughout our lives. This was the case with the first railway, which was feared to cause dizziness and drive people crazy.
Why German Digital Currencies Rather Avoid
In my opinion, one particular aspect to which all other aspects can be traced is the fear of losing. I believe that German culture is particularly risk-averse. It tries to avoid most of the risks by “staying with the old”. Since I believe that we try to avoid risks, we are not particularly open to change. That’s the first effect that makes digital currencies in Germany difficult.
Secondly, in the specific case of digital currencies there is one element missing – also based on fear – that people like to rely on: A responsible person. After all, there is no such person. If we bring our money to the bank, the bank is our scapegoat – for negative interest rates, unfair fees and, in the event of damage, for the loss of money. Whatever happens – it couldn’t possibly be our fault.
It is obvious that this mindset does not only not fit to digital currencies, but even contradicts them completely: Because crypto currencies (which I use synonymously to digital currencies in this column, by the way) are characterized for me not only by the fact that they are digital, but above all by the fact that responsibilities are shifted. The user is the owner and ruler of his private key – the only object granting him access to his assets.
The fact that the USA is known for innovations in the crypto trader sector and rapid acceptance of new crypto trader technologies, and that Germany has to take a back seat on this point, is by no means solely due to a lack of intelligence to understand the new technologies. I deliberately say “only” because the mistakes of the German school system, which are almost completely ignored by technological developments of our time, certainly also contribute to this result.
In my view, however, much more important than mere understanding itself is openness to the technologies. It cannot be said, therefore, that we are fundamentally more ignorant and that the acceptance of new technologies by the population therefore fails – it is much more our cultural background that determines the attitude with which we approach technology – and thus also how receptive we are to it.
Whether it is “better” or “worse” to be more open or more reserved towards new technologies is ultimately up to each individual.
The total market capitalization rose to 202 billion US dollars. With the exception of Bitcoin Cash and Cardano, all crypto currencies recorded gains this week. At the Ether rate and Monero rate it was even over 7 percent.
A tentative recovery is visible, but it is still far too little to speak of an end to the developments of the week before last. However, small cattle also make crap and it is accordingly nice to see that the top 10 have risen by an average of two percent. If one refrains from Bitcoin Cash and Cardano, also all other crypto currencies can enjoy price gains. The market capitalization of all crypto currencies has risen accordingly from 196 billion US dollars to 202 billion US dollars. The week is coined by a ?have eight position? The courses make a neutral to rather bullishen impression, only with Monero it looks throughout bullish. For the most part, it is therefore more advisable to wait and see in which direction the prices orient themselves before opening a long or short position.
The Bitcoin formula has risen by nine percent. This was particularly important after last week’s fiasco. The price of ether has again risen above 200 US dollars. However, as you can see from the chart, the existing downward trend was not broken. In addition, after a bold pump five days ago, the trading volume fell sharply again. However, unlike most of the top 10, with a rising MACD and an RSI that recently came out of the oversold, the impression is bullish. Traders can use the first support at $202.05 as a stop loss on a long position and target the two resistances at $256.81 and $286.00. If the Ether price falls below the Stop Loss, one would have to wait until the Bitcoin formula price slides back below 200 US dollars before opening a short position. As Stop Loss the mentioned Support offers itself again, as Target one can target the second Support with 155.00 US Dollar.
However, the Cardano price has fallen sharply for the Bitcoin trader. Although the downward movement of last week was slowed down, the ADA price has only moved sideways since then. Since its listing on Binance, the price has never reached such low levels that Cardano currently occupies the last place in the Top 10. The MACD line (blue) is currently rising above the signal (orange). Together with an RSI that has recently risen from the oversold, one comes to a rather bullish outlook. The support at 0.06 US dollar described by last week’s price minimum offers itself for a long position as a stop loss. The two resistances resulting from a Bitcoin trader Fibonacci retracement analysis would be interesting targets. If the price falls below the stop loss, you can risk a short position with a tight stop loss. It is difficult to specify a target for this as the price has not yet reached such depths. A rough estimate is that 0.03 US dollars would be a good target.
Stability of the Top 10
The battle between Monero and Cardano will continue: Should Cardano rise above seven percent, the crypto currency could regain ninth place. Dash is also preparing to advance into the top 10. Thus only 10 percent separate the market capitalizations of Dash and Cardano. By way of comparison, this gap is at least 18 percent for the remaining top 10 crypto currencies.
Winners and losers in the price slump
On average, all crypto currencies rose by almost 6 percent. Thus, on average, all crypto currencies performed better than Bitcoin. For the top 100, the result looks somewhat different. But here, too, prices have risen by an average of three percent. The relatively unknown crypto currency Aurora can be pleased about a price jump of 178 percent. With MO
“The papers please” is a phrase that makes some immigrants and travelers in the world’s blood freeze in their veins.
The ability to determine a person’s identity has long been abused by authoritarian governments and greedy corporations. But with the advent of decentralized ledger technology, such as blockchain, this power is being returned to people for the first time through private companies.
One of the Big Four’s rising companies is accounting services provider Bitcoin code. Yesterday, they were expected to publish plans to open the Bitcoin code of their ethereum-based Smart Identity platform.
Speaking to CoinDesk, Deloitte Digital UK CTO, Robinson, explained why his company has taken the most sensible step of all – releasing its own blockchain identity progress.
An important success will be the scaling adoption, scaling consensus, and we don’t believe one Bitcoin code organization can do it alone like this: https://www.forexaktuell.com/en/bitcoin-code-scam/
Deloitte has yet to agree on the details of the exact open source license. But Robinson already said, “the goal is free and easy to use”.
While Deloitte is making the final decisions for the license, no code has yet been uploaded to the Smart Identity Github site.
Currently, the smart identity platform consists of three main components: individual identity creation, institutional identity creation and analysis.
In a demo of the product, the user gets three different key pairs during login. Each of them gives the user access to the service in a different way. The log-in key pair allows the user to access the platform in the future. The encryption key pair gives the possibility to get information. And a final Ethereum account key pair gives the user the ability to write smart contracts.
The identity itself is then determined by the information in the fields of an existing smart contract with a number of attributes. These attributes can be a birth certificate, a driver’s license or a passport. A hash of the smart contract is then used to identify the user.
At this point, it is up to licensing institutions such as the Department of Motor Vehicles in the United States or the Swiss Road Traffic Administration to create an account and accept the documents or not.
The features of the Smart Contract allow institutions to track the points for a driver’s license, or withdraw a driver’s license if you have reached too many points. Individual users, on the other hand, can also be informed whether a particular revoked document restricts the ability to open a bank account.
Currently, the entire smart contract is being hashed, resulting in a less personalized version of the product than Blockchain Lead Alexander Shelkovniko hopes for in the future.
In later versions, the individual fields will be hashed, giving users the opportunity to decide for themselves how much information they want to display. This works like adjusting the volume.
“With smart contracts, these people for the first time have power over their own identity and also over who they share their identity with,” Shelkovnikov said.
Once an identity has been set up and verified, the analysis platform allows you to see which organizations can view which information and which accesses have been granted.
“They could store their identity documents on the blockchain, add new ones and share them much more securely,” Shelkovnikov added.
Building on Identity
In early January of this year, Deloitte’s UK team discovered the Blockchain identity as a valuable service.
At the end of the month a two-man team was expanded with a lot of new developers and most of Deloitte’s European Blockchain initiative was involved. This happened according to Deloitte’s technical architect Andy Loughran, who also supervised the processes.
But Deloitte won’t want to get its commitment back with identities.
Instead, the company wants to take money to support more advanced identity controls, says CTO Mike Robinson.
“We want to get to the point where smart identity is widely used,” Robinson said. “Then we want to use it to solve customer problems.
To ensure this, work at Deloitte must be coordinated and standardized to achieve maximum efficiency,
The two online magazines Wired and Gizmodo are said to have identified the phantom of Bitcoin inventor Satoshi Nakamoto: It is said to be the Australian businessman Craig S Wright.
In the article, WIRED quotes an anonymous source that allegedly provided the online magazine with stored e-mails, transcripts and other documents that clearly exposed Wright as the inventor of Bitcoin. Gizmodo, on the other hand, quotes stored e-mails from an unknown source who is said to have cracked Wright’s e-mail account and questioned Wright’s closer acquaintances.
Forensic computer expert Dave Kleimann is also said to have played a significant role in the creation of Bitcoin. He was a good friend of Wright’s and died in April 2013. According to Gizmodo, Kleiman was deeply rooted in the history of the digital currency and Wright’s plans.
It should be noted that the evidence in the Wired case should be treated with great caution. The magazine points out that the information may even have been invented by Wright himself.
“Despite the massive burden of proof, we cannot say with 100% certainty that the mystery is solved. But one thing we can say for sure: either Wright is the inventor of Bitcoin or a genius counterfeiter who wants us to believe he is the true Satoshi Nakamoto.”
There are already some market observers who have great doubts about the authenticity and the connection between Satoshi Nakamoto and Wright. They are assuming that there is a false report and are therefore heating up speculation in the market.
Wright’s LinkedIn account is currently still active. The profile shows several companies in which Wright is said to have worked. These include Hotwire Pre-Emptive Intelligence Group, a company involved in the creation of a Bitcoin bank called Denariuz. However, the bank/company later experienced tax problems with the Australian Treasury.
According to a 2014 company presentation, Denariuz Bank should be one of Australia’s largest banks in the next 5-6 years.
Gizmodo continued to follow the link between Wright and the ATO and found that Wright had already indicated during a meeting with government officials that he had been involved in the development of Bitcoin.
In addition, a LinkedIn article points out that Wright has already worked with various U.S. government officials.
In his position as vice president of the Global Institute for Cyber Security + Research, Wright was responsible for promoting relations with the National Security Agency (NSA), Department of Homeland Security (DHS), North American Space Administration and DSD, and regional government officials.
Whether he’s Satoshi or not, Wright has been working hard to reduce his online activity lately. To do this he deleted his Twitter account. Already during Gizmodo’s research, Wright is said to have set his Twitter posts to private.
Wright has not yet publicly commented on the allegations.