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Bitfury chief executive officer and co-founder Valery Vavilov reportedly said that the company created its AI unit. Blockchain startup BitFury launched an artificial intelligence (AI) unit, Reuters reports on Aug. 13. “Data is the new oil”Bitfury chief executive officer and co-founder Valery Vavilov reportedly said that the company’s dive into AI is motivated by the need to analyze and extract information from great quantities of data. He reportedly noted that data is becoming the new oil and stated: “We have collected so much data, but only 2% of all this data has been analyzed; 98% is sitting idle and waiting to be analyzed.” Vavilov also reportedly explained that the AI unity of the firm is still researching possible applications of artificial intelligence. Still, he also promised that next year BitFury will have more information about the AI-enabled products that the company intends to develop and offer to its clients. AI a potential danger to cryptoFormer vice president and manag..
Bitcoin Suisse cryptocurrency services company claims to have conducted the highest Bitcoin trade ever, literally. Cryptocurrency services financial services provider Bitcoin Suisse claims to have conducted a Bitcoin (BTC) trade at the highest altitude ever in a promotional stunt that took place on July 13. A YouTube video proving this achievement was published on July 19. New Bitcoin “all-time high” tradeAccording to the firm’s claims, the trade carried out by its staff took place on the summit of Breithorn mountain range in the Pennine Alps, located on the border between Switzerland and Italy. Furthermore, almost 70 people reportedly took part in this publicity stunt 4164 meters (nearly 2.59 miles) above the sea level. The official Bitcoin Suisse Twitter account wrote about the achievement: “NEW ALL-TIME HIGH! On July 13th, Bitcoin Suisse conducted the highest bitcoin trade ever recorded on the summit of Breithorn, Switzerland, 4164m above sea level.” “A little bit over the top”Like..
A new blockchain solution focused on ending slave labor in the food industry received $2.4 million in public funding in Australia. Blockchain startup Lumachain has received $2.4 million in public funding from Main Sequence Ventures, a $165.6 million venture capital fund backed by the Australian government and the federal Commonwealth Scientific and Industrial Research Organisation. Lumachain’s newly-received funds will go toward staffing fees as well as international expansion, according to a report by local financial news periodical the Australian Financial Review (AFR) on July 29. Lumachain reportedly uses blockchain technology to track and trace the condition and whereabouts of food products along the supply chain in real time. According to Lumachain’s website, founder Jamila Gordon says the goal of her blockchain solution is to end modern slavery associated with food production. Gordon told the AFR: "Slavery is becoming a major issue in supply chains, both here and overseas. Aus..
Singapore-based blockchain company Perlin has acquired blockchain development startup Dispatch Labs. Singapore-based blockchain company Perlin has acquired blockchain development startup Dispatch Labs, Dispatch Labs CTO Zane Witherspoon told Cointelegraph on July 26. Perlin acquired Dispatch’s talent, provisional and non-provisional United States patents on Dispatch’s blockchain IP, and strategic business partnerships. Former Dispatch CTO Zane Witherspoon will now manage Perlin’s Developer Ecosystem. The company did not disclose the value of the transaction. The acquisition comes in the wake of the news in mid-June that Dispatch incurred considerable losses despite extensive investment and a recovering cryptocurrency market. Although Dispatch Labs received funding from its executive team, subsequently raising over $13 million in a series of private rounds from other investors in 2018, the value of the raised capital slumped considerably following the market drop in the first quarter o..
Cryptocurrency data and financial technology startup Digital Asset Data announced that it received $3.2 million in latest funding round. Cryptocurrency data and financial technology startup Digital Asset Data announced that it received $3.2 million in funding in a press release shared with Cointelegraph on July 25. A round led by Silver Lake and Glenn HutchinsPer the release, the round was led by investment firm North Island and tech-focused private equity group Silver Lake co-founder Glenn Hutchins. The new funds, added to its seed funding of $6 million covered by Cointelegraph in April, brings the total funding received by the startup to $9.2 million. The startup in question reportedly provides tools enabling asset managers and other market participants to analyze crypto assets, market, reference and customer data from a number of sources. The company claims that the platform that it launched in March helps their clients to compound knowledge about the digital asset marketplace. Fur..
The founder of Token Foundry is suing Ethereum co-founder Joseph Lubin for breach of contract. The founder of ConsenSys-incubated startup Token Foundry, Harrison Hines, is suing Ethereum co-founder Joseph Lubin for breach of contract. Per court documents filed with the Supreme Court of the State of New York County of New York, Hines has filed a lawsuit against Lubin in connection with “breach of contract, conversion, quantum meruit, unjust enrichment, fraud, declaratory judgment and unpaid profits arising from the defendants’ acts in connection with the business known as Token Foundry.” Hines thus intends to collect over $13 million, wherein “the relief sought is monetary damages in the amount of $12,827,000 on the contract, quasi-contract and fraud claims plus $404,783 in unpaid profits.” As Cointelegraph previously reported, anonymous sources stated that ConsenSys could lay off up to 60 percent of its staff as the blockchain space had become more competitive and “crowded,” last Dece..
IDEO CoLab’s Blockchain Accelerator Startup Studio Has Reportedly Onboarded Over 50 Mentors. Over 50 members, including officers from companies such as Ethereum Foundation, Blockchain Capital, and Messari, have joined blockchain accelerator Startup Studio backed by Fidelity. In a blog post published today, July 18, IDEO CoLab Ventures — which stands behind the blockchain accelerator program — revealed that over 20 leading organizations joined Startup Studio, bringing more than 50 mentors to the project for 2019. Announcing the new program members, IDEO wrote: “last week you met our blockchain Startup Studio’s 20+ partner organizations [...], today we’re excited to share the humans behind them — and many more — who deeply care about the blockchain community and helping entrepreneurs and developers in it succeed.” Startup Studio has onboarded industry players such as Denelle Dixon, CEO of Stellar Development Foundation, Joey Krug, co-chief investment officer at Pantera Capital, Robbie ..
Enterprise blockchain tech firm R3 partnered with Brazilian digital bank Banco Maré to launch a stock exchange listing shares of startups. Blockchain consortium R3 has partnered with Brazilian fintech company Banco Maré to launch a stock exchange for investing in technology firms. Banco Maré, a blockchain-powered digital bank focused on financial inclusion, intends to build a tokenized stock exchange offering investments in technology companies with “social impact,” Cointelegraph Brazil reports July 16. The new R3 technology-backed platform, provisionally named BVM12, will purportedly open a new funding source for technology startups, as well as enable individual investors to generate dividends from investments in new technologies, the report notes. Rio de Janeiro-based Banco Maré has reportedly conducted its first informal consultations with the Brazilian Securities and Exchange Commission, and is reportedly planning to make an official request to the agency in August 2019. Banco Mar..
U.S.-based payments startup Fold has made Lightning Network payments possible at Amazon, Starbucks, Uber and other big name retailers. United States-based payments startup Fold has made Lightning Network (LN) payments possible at Amazon, Starbucks, Uber and other big name retailers. The news was revealed in an official blog post published on July 10. As previously reported, the Bitcoin (BTC) Lightning Network is a second-layer solution to bitcoin’s scalability limitations, opening payment channels between users that keep the majority of transactions off-chain, turning to the underlying blockchain only to record the net results. In its announcement, Fold reveals that participating selected retailers will settle users’ LN payments — denominated in satoshis, or one hundred millionth of one Bitcoin — via their prepaid access programs in a currency of their choice. LN payments are thus processed via the Fold site, where users can select a retailer and pay the relevant invoice using their ..
The world’s fifth top oil and gas firm, Shell, has invested in a blockchain-based energy firm. Shell, the world’s fifth largest oil and gas firm, has invested in a blockchain-based energy startup, Forbes reports on July 10. The European oil and gas giant has invested an undisclosed amount in New York-based LO3, whose Exergy platform tracks energy with blockchain technology. The recent investment in LO3 marks Shell’s fourth public investment in blockchain-related firms, Forbes noted, listing platforms such as Vakt, Komgo, and Applied Blockchain as other portfolio blockchain companies. According to the report, Shell has an option to convert its investment in LO3’s native tokens called XRG, which will be used to incentivize the platform and will be required to access the distributed energy grid. The company originally planned to raise funds through an initial coin offering (ICO) by using XRG, but put those plans on hold, the report notes. LO3’s Exergy is currently based on the Ethereum b..