German State Announces Plan to Establish European Blockchain Institute
The government of the German state North Rhine-Westphalia (NRW) announced plans to establish the European Blockchain Institute to research blockchain technology in a press release on May 13.
According to NRW Economics Minister Andreas Pinkwart, the European Blockchain Institute will be founded in the city of Dortmund later this year, inside the Fraunhofer Institute for Material Flow and Logistics (IML).
The press release says that critics of blockchain have voiced concern over the amount of energy consumed by mining bitcoin (BTC). Pinkwart addressed these concerns and praised the benefits of blockchain tech.
Microsoft’s Blockchain Obsession, Including ID Push, Is Good for Bitcoin
By CCN: Does Microsoft consider blockchain to be the strongest technology in the world? Who knows, but they sure seem to recognize its growing mainstream status and view it as a potential moneymaker.
The company recently announced that it would be building a decentralized identity (DID) network on top of the Bitcoin blockchain, the oldest and arguably most trusted blockchain within the space. The network will be built in accordance with standards set by the Decentralized Identity Foundation, which Microsoft claims can overpower the “throughput issues” commonly witnessed on the Bitcoin blockchain.
Joe Lubin, Jimmy Song Strike $500K Crypto Bet on Ethereum’s Future
The terms of a much-hyped bet have finally been settled, and, at current prices, more than $500,000 in crypto is on the line.
“It’s a maximum pain kind of bet,” Jimmy Song said during a session of CoinDesk Live at Consensus 2019. “Skin in the game.”
The new details stem from an onstage agreement from Consensus 2018, where Lubin told Song that he would bet “any amount of bitcoin” that ethereum’s decentralized apps would have a non-trivial number of users in five years.
Song had accused Lubin of “weaseling” out of the bet in recent weeks, including calling Lubin out on Twitter.
But the meeting of the two crypto thought leaders on Tuesday did not disappoint, especially in terms of how much crypto was wagered.
Facebook Hires Two of Coinbase’s Former Compliance Managers
Facebook hired two Coinbase veterans to work in compliance this month, and at least one of them is involved with the social media giant’s blockchain effort.
Jeff Cartwright left Coinbase in March after nearly five years at the U.S. cryptocurrency exchange in various compliance roles. He joined Facebook as a policy and compliance manager this month, according to his LinkedIn profile.
The profile does not address how involved he will be in Facebook’s blockchain projects, which include a secretive plan to create a price-stable cryptocurrency. Reached by CoinDesk Monday evening, Cartwright said he could not discuss his new role. Facebook spokesperson Elka Looks said the company does not comment on personnel.
Hyperledger Announces Aries, a Toolkit for Blockchain-Based Identity Management
Everyone has a form of sovereign identity, said Evermym’s Drummond Reed during CoinDesk LIVE on Tuesday.
Reed and Brian Behlendorf, executive director of Hyperledger, were there to launch their new identity management system.
During his talk, Reed tapped his physical wallet full of cards and cash. That, he said, was the equivalent of state-of-the-art when it came to digital identity.
In an effort to bring identity into the 21st century, the pair have just launched a new, open source framework for identity management, Aries.
The framework, the team wrotes, is “not a blockchain and it’s not an application.” Instead, it is a method to build interoperable and verifiable credentials for secure communication.