New Crypto Aims to Solve ‘Zimbabwe’s Money Problems Using Blockchain Technology’
The Zimbabwean currency’s collapse in 2008 and record hyperinflation are widely seen as textbook examples of what can go wrong with a centralized currency. For instance, some cryptocurrency enthusiasts — as well as opponents of the fiat currency system in general — have routinely pointed to the Zimdollar’s collapse when arguing for an alternative monetary system. In other instances, entrepreneurs like those behind Zimbocash, a decentralized currency and payments platform for all Zimbabweans, have already launched such an alternative. They hope that this....
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Blockchain technology could provide a solution to issues facing the world’s impoverished children, according to Christopher Fabian, one of the co-founders of the United Nations Children’s Fund (UNICEF) innovation effort. In a new interview with CoinDesk, Fabian said that UNICEF has spent months discussing blockchain tech internally and how it can be used to address payments and identity problems in conflict areas. Potential applications aside, Fabian said that he does not believe the technology is mature enough today to address problems UNICEF aims to solve. Yet, that hasn’t stopped the....
The blockchain's increasing size continues to raise concerns about its ability to accommodate transaction growth. But, could a decentralised system where transactions are sent over a network of off-blockchain micropayment channels solve the ledger's scalability problems? Joseph Poon and Thaddeus Dryja, the developers behind the Bitcoin Lightning Network, think so. Although still in its nascent stage, the Lightning Network - based on a recent white paper - aims to solve the scalability issue by implementing hashed timelock contracts between users. The Bitcoin Lightning Network came to life....
The former Coinbase CTO sounded the alarm early about the virus. More broadly, he’s emerged as a prolific and perceptive thinker about the trust and knowledge problems crypto aims to solve.
We are starting to see Blockchain based disruptive technologies, solving real world problems. Bitcoins are mined. Mining is a computationally intensive process. Mining with CPU and GPU has already gotten to a point where the profitability is almost trivial. The energy consumption is higher than the output that can qualify as profitable. Some discussions on the Internet are asking the question, "Isn't Bitcoin mining with high energy inputs a cause for environmental concern?" There is another discussion starting to happen in the Bitcoin skeptics society lately, as well. A Quora Question:....
Leading student blockchain clubs do more than meet up to eat pizza: they work directly with crypto startups to solve problems.