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‘Facebook Login On the Blockchain’, Mark Zuckerberg Interested In Experimenting With Blockchain

During an interview with Professor Jonathan Zittrain of Harvard Law, Mark Zuckerberg, a well-known figure of web and social media revealed his sentiments towards blockchain technology. While discussing, Facebook CEO, Zuckerberg said that ‘he is potentially interested’ to put Facebook login on the disruptive technology, blockchain.

Blockchain-based Authentication, Facebook sees a Potential use case

The social giant, Facebook has recently been very active in blockchain space. In fact, as Coingape reported, it acquired the team behind ‘Chainspace which is a blockchain firm’ founded by Cheddar (one of the researchers from University College of London). Nevertheless, this was the very first acquisition of Facebook in blockchain space which was made earlier this month. And what Zuckerberg hints of using blockchain for Facebook login would be indeed its first practical initiative. He initially said -we’re building data center capacity for the next five years long’ and here is a statement quoted from the interview;

Authentication was “use of blockchain that I’m potentially interested in,” although “I haven’t found a way for this to work.” In general, the proposed system would replace Facebook Connect with “something that’s fully distributed.”

https://www.facebook.com/zuck/videos/10106612617413491/

According to him, such implementation is to avoid the use of data by any third party or something that would allow you to control which app to allow to access to your data. Its worth mentioning that there are other platforms which have launched a similar system but in Zuckerberg’s view, Facebook wouldn’t primarily cut off the access to third-party apps ‘that helps app developers’. As such, one cannot forget Facebook’s data scandal happened through Cambridge Analytica and if Facebook’s head is eyeing blockchain, there would also be a talk on privacy. Addressing the similar context, he stated that;

“In a fully distributed system, there’d be nobody who could cut off their access. A fully distributed system empowers individuals on the one hand, but it really raises the stakes,”

A quick interview recap in Mark Zuckerberg’s words;

You basically take your information, you store it on some decentralized system and you have the choice of whether to log in in different places and you’re not going through an intermediary. There’s a lot of things that I think would be quite attractive about that. For developers, one of the things that are really troubling about working with our system, or Google’s system for that matter, or having to deliver services through Apple’s App Store is that you don’t want to have an intermediary between serving the people who are using your service and you. Where someone can just say hey, we as a developer have to follow your policy and if we don’t, then you can cut off access to the people we are serving. That’s kind of a difficult and troubling position to be in.

Source: coingape.com

MWC2019: The Smartphone That Produces Up to Two Ethereum per Month

Novelty in MWC2019: Wings Mobile WX is set to be a cheap smartphone which will produce up to two Ethereum a month. Here’s all you need to know.

Wired.it reports that during the Mobile World Congress (MWC2019, Barcelona) another novelty was introduced which is worth to mention indeed – the smartphone that makes money simply by keeping it turned on.

The idea came to the Italian entrepreneur Antonio Milio, the CEO of Wings Mobile, who decided to create a smartphone capable of “mining” cryptocurrency.

Once the buyer acquires the smartphone he starts mining instantly and the new owner is being “rewarded” with a “mined prize” that can reach two Ethereum per month, which currently are worth about 250 euros (~$284 USD). Obviously, everything depends on the price fluctuations of the cryptocurrency.

Moreover, the amount of ETH you generate every day are automatically paid to your electronic wallet on a daily basis.

Wings Mobile WX – only 40 000 smartphones available.

How Is It Possible?

When buying the Wings WX smartphone, the owner actually signs a subscription with the company that allows the device to guarantee the reward of up to two Ethereum per month, depending on the plan signed for the cryptocurrency mining on his Wings WX smartphone.

The Spanish virtual mobile operator has in fact provided different types of subscription, differentiating them by “mining” power, starting from 100 MH/S up to 1000 MH/S.

Consequently the mobile costs from a minimum of 600 euros (a special price) to a maximum of about 2600 euros for the most profitable contract that guarantees maximum mining performance.

Minephone WX comparison with regular Ethereum mining rig.

Minephone WX comparison with regular Ethereum mining rig. Wings Mobile web data.

Proof-of-Data Instead of Proof-of-Work

But how does a telephone have the computing power necessary to mine such amount of cryptocurrency? The reason lies in a sort of new protocol used by Wings Mobile that instead of relying on the traditional computing power required by the Proof of Work protocol, the company uses the innovative Proof of Data mode instead.

Proof of Data mode is based, simplifying, on the traffic generated by the network mobile or wi-fi when the phone is switched on and connected to the internet. This algorithm was developed by the Ecuadorian company Neobit, which is part of Wings Mobile, but its operation appears rather nebulous.

Is It Worth It?

The risk is clear, but if the Ethereum would touch the price of $1450 within the year as ConsenSys estimate, compared to an initial investment of 2600 euros, the user would profit by a 12,400 euros return in 12 months.

The calculations, of course, are entirely theoretical, but rather intriguing. You decide.

Source: cryptovibes.com

You Can Now Purchase Tickets to the Ice Hockey World Cup 2019 Final with Cryptocurrency

After our recent announcement about GLORY, formerly Glory World Series, an international kickboxing promotion company now accepting Litecoin as a payment option, today we can witness another crypto-related historical moment for the sports industry – tickets for the final of the Ice Hockey World Cup 2019 can be purchased with cryptocurrency.

As Boerse Express reported, the final of the Ice Hockey World Championship 2019 will take place on May 26, 2019, in Bratislava. The tickets are not only available in the traditional way, but also for the first time with OneGram Gold-backed cryptocurrency created by a team of IT developers from the 01People group based in Dubai. The company even creted a special dashboard for ‘crypto-hockey’ tickets acquisition.

Crypto Hockey OneGram

Crypto Hockey OneGram

“It is a great honor for us, it is a breakthrough result of what we have been aiming for a long time,”

said Founder and CEO of OneGram Ibrahim Mohammed. The CEO also indicated that their goal is to create new solutions for their users and the latest ‘crypto-hockey’ development lets users pay for the ticket in their Gold-backed cryptocurrency and experience an amazing atmosphere while two of the best ice hockey teams in the world fights.

Bolstering Crypto Payments in Dubai Since 2018

OneGram CEO explained that today we pay with cryptocurrency in cafes, restaurants, pharmacies, we buy electronics, furniture, brand watches or services. Moreover, OneGram real estate and car purchases in Dubai can be handled since 2018.

Source: cryptovibes.com

Elon Musk: Paper Money is Going Away and Crypto is a Much Better Value

He said that Bitcoin is interesting and could be a good way to transfer money.

Tesla boss and billionaire entrepreneur Elon Musk recently denied that the electronic car company has plans to participate in the digital currency market. In a recent podcast with ARK Invests Cathie Wood, Musk said that he would not put Tesla’s resources into cryptocurrency but praised Bitcoin, nonetheless.

Elon Musk tweeted about Bitcoin in October, giving rise to speculation that he could be involved with the world’s premier digital coin. There are even theories going around the internet that Musk is the real Satoshi Nakamoto, the famed but anonymous creator of Bitcoin.

People suggest that Musk has adopted an eerily silent attitude on Bitcoin, except for that one tweet, while he has been vocal about new and emerging technologies in the past. He, however, has denied being Nakamoto.

The majority of his conversation with Wood and ARK Invest analyst Tasha Keeney in the Tuesday podcast focused on Tesla’s future in electric vehicles and automation. He said that the company would have the technology needed to operate driverless vehicles by the end of this year.

In the podcast, he said that “Bitcoin is interesting and could be a good way to transfer money. Bitcoin’s structure is brilliant, but I don’t think it would be a good use of Tesla’s resources to get involved in crypto,” he told Cathie from ARK Invest, which has holdings in the electric car manufacturer.

Musk talked about Bitcoin’s ability to circumvent currency controls and control paper currency. However, he also highlighted the flaw with mining cryptocurrencies.

He added,

“Paper money is going away, and crypto is a much better value for a transfer of value than pieces of paper, but it has its pros and cons. It’s very energy intensive to create bitcoin at this point.”

Bitcoin follows a consensus algorithm called Proof of Work which allows miners around the world to compete to solve complex mathematical puzzles to create a new block. This helps in validating transactions on the network, but only the first miner who is able to mine the block first gets the block reward.

He noted that his October tweet about Bitcoin was a tongue in cheek response and his account even got temporarily suspended by Twitter because there is some automatic rule on the platform about selling Bitcoin. He said that he was only joking in that tweet.

Such Elon Musk’s position confirmes why he have always remained silent during the Lightning Network torch challenge.

Bitpanda CEO Will Order Tesla the Minute Elon Musk Accepts LNChain Torch. https://t.co/nO8V2OqkL8 #LNChain #Bitcoin #BTC #Satoshi #LN #Crypto#Cryptocurrency @elonmusk @eric_demuth @Tesla

— Crypto_Vibes (@Crypto_Vibes) February 15, 2019

Source: cryptovibes.com 

FACEBOOK MAY BE EYING ‘FACECOIN’ AS IT EXPANDS ITS BLOCKCHAIN TEAM

Social media giant Facebook is looking to expand its blockchain team. Could ‘FaceCoin’ follow JPMorgan’s recently unveiled JPM Coin as companies vie for the prized online payments market. 


FACEBOOK’S HIRING: BLOCKCHAIN EXPERTS

According to Facebook’s official careers page, the social media giant is looking to expand its team operating in the field of blockchain technologies.

As per the job board, the company is hiring different experts spanning from business product and business operations managers to software engineers and even a technology communications director in the space.

Bitcoinist reported earlier in February that the company ‘acqui-hired’ a blockchain startup called Chainspace.

As previously noted by a spokesperson from Facebook, the company is exploring different ways to leverage blockchain technology.

ARE WE GETTING CLOSER TO ‘FACECOIN’?

In addition to the currently available blockchain-related positions at Facebook, the company’s official LinkedIn page also reveals that there’s a position for a Technical Program Manager, Marketplace Payments, Blockchain specialist.

While the position is no longer accepting applications, this could add more weight to the report, which started circulating in late 2018 that Facebook is working on a stablecoin allowing WhatsApp users to transfer money in-app.

As outlined by anonymous sources familiar with the matter, Facebook’s initial target will be the lucrative remittance market in India as the regulatory landscape there are starting to take shape.

The company’s blockchain effort gained substantial momentum back in August 2018 when David Marcus, a former member of Coinbase’s board of directors stepped into Facebook to spearhead a “new group around blockchain”.

According to LinkedIn, this “small” group has grown substantially, as there are currently 49 employees with their business profiles stating they’re occupied on the company’s blockchain arm.

The bigger story here, however, is that the floodgates have been officially opened by banking giant JPMorgan. Last week, it unveiled its ‘JPM Coin’ virtual currency.

Now, with the social media giant ramping up its blockchain effort, don’t be surprised if Facebook serves up a ‘Facecoin’ in the near future.

Source: bitcoinist.com