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Tag Archives: coindesk

Allianz Test the Blockchain for swaps and bonds

allianz_test_the_blockchain

Allianz test the Blockchain

The insurance company Allianz announced today its use of blockchain smart contracts to manage catastrophe swaps and bonds, which allow users to prevent losses in front of large -scale disasters.
Anyway it could also happen that insurers and investors money could drag on for a few months after the catastrophe.
But thanks to smart contracts the time could be reduced in a few hours, according to an Allianz spokeperson.
In fact, this test – done thanks to a partnership with Nephila company – showed that transactions can be “significantly accelerated and simplified”; it also demonstrated that it could help the increase of marketability for swaps and the growth of opportunities where it is possibile to use blockchain-based smart contracts.
Chief underwriting officer Richard Boyd explained to Coindesk:
“Blockchain technology will increase reliability, controllability and speed for both cat swaps and cat bonds because less manual processing, authentication and verification is needed through intermediaries to confirm the legitimacy of payments and transactions to and from the investors.”
He added:
 
“By replacing manual operations, which are currently embedded across the entire process, delays and the risks of human error are ruled out”.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

The Greatest Bitcoin Companies: TOP 30

Greatest Bitcoin Companies: which are the best?

Below you can read a chart of the greatest Bitcoin Companies you need to follow to better understand the cryptocurrencies world.
These 30 Bitcoin companies can also give you ideas and a greater consciousness of the fintech sector if you are starting a blockchain startup and you want to follow their example.
This list was generated thanks to Buzzsumo, taking into this platoform several settings and metrics we though were useful to add.
The greatest part of these 30 Bitcoin- related companies are exchanges and magazines related to Bitcoin news.
Top 30 Blockchain companies:

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Craig Wright Announcement affected the Bitcoin price

craig_wright_satoshi_nakamoto
During this last week, Bitcoin had a low trading volume and its price dropped when the Australian entrepreneur Craig Wright said to be Satoshi Nakamoto, the creator of Bitcoin. 
So, according to Coindesk, Craig Wright’s announcement affected the Bitcoin price.
Traders moved only 7.7m BTC during this week, according to Bitcoinity, much less than usual.
Bitcoin started the week at a price of $449.86 on 29th April. This price reached $456.84 that same day. 

Craig Wright announcement

The currency price was between $450 and $445 on May 2nd, or the day of Wright’s announcement. 
Both Gavin Andresen and Jon Matonis, two of the most popular people in the Bitcoin market, wrote a blog post supporting Wright, but this announcement generated skepticism, and the proof Wright provided to support his identity didn’t convince anyone. 
To prove the Bitcoin paternity, Wright tried to show the private keys he used for the the first blocks mined back in 2009. But it was a false and later Wright deleted those announcements, explaining: 

“I believed that I could do this. I believed that I could put the years of anonymity and hiding behind me. But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot.”


Bitcoin Price results

Wright’s announcement has had a great impact, as bitcoin price arrived to value an amount of $439.89 on May 2nd. 
After that, Bitcoin price rised again to $445 and $450 on the same day.
So, even if the greatest part of bitcoin and crypto lovers commented that Satoshi Nakamoto anonymity is not a problem and they don’t care about who he is, the Craig Wright’s revelation quickly moved the Bitcoin price thus creating high volatility. 

News to reduce Bitcoin volatility

While Craig Wright drew the attention, there were two other news that could reduce the bitcoin price volatility, explained Chris Burniske to CoinDesk.
The first one was related to Amazon Web Services (AWS) that announced its partnership with the Digital Currency Group (DCG). 
And this is a huge validation for Bitcoin. Read more here. 
The second important news of the week according to Burniske is related to the CME Group Inc:
“CME Group Inc’s public intent to publish pricing data is a significant step towards more bitcoin derivatives, and follows upon NYSE’s Index, which is owned by Intercontinental Exchange Inc, another derivative exchange heavyweight”.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

How to use the blockchain to secure medical records

Guardtime, a blockchain platform for ensuring the integrity of systems, is now working together with the Estonian eHealth Foundation to develop a blockchain network to secure one million patient medical records.

eHealth will use the Guardtime’s KSI (Keyless Signature Infrastructure) into its database to improve the security and the real-time availability of patient medical records.

Guardtime aims at protecting those records with an “independent forensic-quality audit trail”, so it will be impossible to edit the information.

During a recent interview conducted by Coindesk, a spokesperson for Guardtime said:

“In guarding sensitive records, the danger is that they could be altered, deleted, improperly changed or updated, affected by hackers, malware, system issues, etc. The blockchain in this case can prove the integrity of the record, and everything that has happened to it over time”

Why in Estonia?

Maybe you are asking yourselves why this kind of innovation is being conducted in Estonia.

Well, Estonia is already famous for its e-government system which use a chip-embedded ID card that allows citizens to access government services including filing taxes and voting online.

Guardtime Insights

In 2007 Guardtime invented a “Keyless Signature Infrastructure”, a blockchain platform created to ensure the integrity of systems, networks and data at industrial scale.

Keyless Signature Infrastructure (KSI) is designed to provide scalable digital signature based authentication for electronic data, machines and humans. KSI uses only hash-function cryptography, allowing verification to rely only on the security of hash-functions and the availability of the blockchain.

According to the company itself, Guardtime’s method is similar to the one used by the blockchain startup Factom. In both cases, in fact, every time a file changes, a new signature is generated and stored in the blockchain.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio