Lifeboat Foundation

E xperts are suggesting quantum computing may render blockchain obsolete. As the tech giants such as Google and IBM are showing interest in Quantum computing the danger is evident. According to MIT Technology Review, this type of computing can hack the cryptography hash that universally secures the blockchain and in general the internet. This would suggest quantum computers may complete fraudulent transactions and steal coins. With its exponential power, quantum computers threaten blockchain’s future security.

Blockchain consists of encrypted nodes connected on a chain, which currently makes it almost impossible to hack. The order of entries adheres to the blockchain protocol, which makes it counterfeit-resistant.

To successfully hack a blockchain, you would need to alter both the targeted block and all of the blocks connected. Blockchains are synced throughout a peer-to-peer network. In this type of system, there is no central point of failure for hackers to penetrate. For a hacker to have a chance of penetrating the network, they would need to simultaneously alter at least 51% of the blockchain.

Continue reading “Quantum Computing: Is it the end of blockchain?” »

From the figures above, the past year has highlighted how pretty much anything can be put on the blockchain as a way of raising capital. But as it provides access to greater liquidity to investors rather than a conventional equity investment, it’s also demonstrating how a tokenized world is steadily being seen as the norm.

As Krauwer states, though, for an actual token economy to emerge, buyers would need insight in what they buy. “Token owners would need to know how they can keep track of the underlying asset. In addition, they would need a way to store their tokens and trade them with others.”

Not only that, but sellers would benefit from such a platform that would capture their assets in a token and connect them with possible buyers. Additionally, providing some type of quality assurance on top of the tokens would help too.

Continue reading “Now that everything can be tokenized, banks are taking notice” »

Yellowstone National Park, The Dolomites, Auschwitz Birkenau, The Great Wall … Apollo 11’s Tranquility Base?

For All Moonkind and TODAQ Financial have teamed up to map heritage sites on the Moon—using blockchain.

Continue reading “Nonprofit Wants to Map Lunar Heritage Sites Using Blockchain” »

Although blockchain is traditionally seen as secure, it is vulnerable to attack from quantum computers. Now, a team of Russian researchers say they have developed a solution to the quantum-era blockchain challenge, using quantum key distribution (QKD).

Quantum computers are different from binary digital electronic computers based on transistors. Whereas common digital computing requires that the data be encoded into binary digits (bits), each of which is always in one of two definite states (0 or 1), quantum computation uses quantum bits, which can have more by being in superpositions of states.

Writing in the journal Quantum Science and Technology, the researchers set out a quantum-safe blockchain platform that uses QKD to achieve secure authentication.

Continue reading “Quantum Computing Key Could Protect Blockchain Security” »

Other than the United States, 5 U.S. territories and 12 sovereign nations use the US dollar as their legal currency. (Note that Micronesia covers six sovereign countries).

Additionally, I have traveled to island nations and some countries in Asia and Pacific that peg their currency to the US dollar. In these regions, citizens accept US dollars interchangeably with their own national currency, and their governments don’t seem to discourage or prosecute such transactions.

What gives value to paper?

Continue reading “What Countries use US Dollar and Why?” »

Please don’t pay any attention to this posting. It is not for you… *

This graph presents indisputable fact: It compares US dollar growth as reported by the US government and Bitcoin growth (for all time), extrapolated by pure math.

I wish that this would put to bed the fake news, conspiracy theories, and “nothing backs it” nonsense. Unfortunately, seismic shifts in architecture or process take time for society to understand and accept. Early adopters will be the fortunate buckos. Timid or clueless denizens will complain bitterly about the unfair advantage of those who wise up before it hits a 6 figure exchange rate. Eventually, comparisons with legacy currencies will be utterly meaningless. It will become the currency. It will be the gold-pressed latinum of universal recognition and intrinsic value.

15 years from now, some will look back on our era and claim that the Winkelvoss twins were lucky. Risk, patience and an understanding of economics is not ‘luck’. They have the gift of prescience.

Continue reading “The USD is Tulip Mania—BTC is not” »

One of bitcoin’s biggest bulls has inked a deal with an unlikely partner to create a cryptocurrency price index.

Billionaire Mike Novogratz and Bloomberg LP on Wednesday announced that they are teaming up to launch the Bloomberg Galaxy Crypto Index (BGCI), which will track the aggregate performance of a basket of large-cap cryptocurrencies.

“Today’s launch of the Bloomberg Galaxy Crypto Index reflects our clients’ growing interest in cryptocurrencies,” said Alan Campbell, Global Product Manager for Bloomberg Indices. “The index brings our rigorous approach to index construction to cryptos and will provide investors with a transparent benchmark to gauge the performance of the broader market.”

Continue reading “Bloomberg & Billionaire Bull Novogratz Launch Cryptocurrency Price Index” »

A hilarious but accurate (!) introduction to bitcoin and cryptocurrencyby the British comedian John Oliver.

Digital currencies are generating a lot of excitement. John Oliver enlists Keegan-Michael Key to get potential investors equally excited about the concept of caution.

Continue reading “Last Week Tonight with John Oliver (HBO)” »

With the utmost of respect for Mr Buffett, when he calls BTC “rat poison” he is expressing his philosophical viewpoint of the program (i.e. decentralized currency), not making a prediction of its future (not that I, or anyone else can really know what that it).

The Oracle of Omaha is still not a fan of bitcoin. Neither is Warren Buffett’s top lieutenant Charlie Munger. But to be fair to crypto bulls, both have missed out on an amazing rally.