Bringing blockchains to the world of science and engineering
Today we’re delighted to jointly announce a collaboration with Wolfram Research, the industry-leading company behind the Mathematica platform and the Wolfram|Alpha answer engine. Over the coming year, MultiChain will be integrated into the Wolfram Language and across Wolfram’s line of products. For example, Mathematica users will be able to store and retrieve data in a zero-configuration private blockchain deployed in the Wolfram Cloud, in their own blockchain running on local MultiChain nodes, or in a chain which combines nodes from both.
We’re particularly pleased with this collaboration because it demonstrates our long-running view that, as a technology, blockchains are in no way specific to the finance sector. The perceived association between banks and blockchains is an accident of history, stemming from the fact that most public blockchains, like bitcoin, happen to enable a new type of money. By contrast, private or permissioned blockchains are a shared database technology, allowing a set of participants or organizations to safely collaborate on a database that crosses boundaries of trust.
Of course, banks work extensively with general-purpose databases such as Oracle or SQL Server, and the same will apply for blockchains as well. For example, MultiChain is already being used for dozens of projects in the finance sector. But it’s important to be clear: Blockchains embody a particular set of trade-offs compared to centralized databases, which make them suitable for some use cases and unsuitable for others. Quite rightly, many “distributed ledger” startups focused on specific problems in capital markets are not using blockchains at all.
As for MultiChain, we hope this will be the first of many collaborations enabling software platforms to offer a decentralized data layer to their users. We’re already working with several other companies to explore the possibility in depth. The underlying problem is this: How can multiple organizations ensure they agree on a developing set of facts, without giving control over those facts to a single party? Blockchains combine peer-to-peer networking, public key cryptography, consensus algorithms and a new transaction model, to provide a practical solution.
The full text of the joint press release is included below.
Wolfram to Integrate with MultiChain Blockchain Platform
￼￼March 8, 2017 – Wolfram Research and Coin Sciences Ltd today announced a collaboration in which Coin Sciences’ market-leading MultiChain blockchain platform will be made accessible from the Wolfram Language and across the Wolfram family of products, including the award-winning Mathematica. This will enable Wolfram Language users to write applications that make use of blockchain functionality.
“A blockchain is a decentralized ledger that has append-only memory,” said Christian Pasquel, Wolfram’s Development Team Lead. “This is a very simple concept, but it is a powerful building block that will enable a new class of computational applications—we expect everyone who uses the Wolfram Language will benefit from this simple yet powerful functionality.”
Initially, Wolfram will offer users direct access to a zero-configuration private blockchain, accessible in the Wolfram Cloud. Users will be able to create their own blockchain(s)—combining local nodes with those in the Wolfram Cloud, have it store and retrieve data and also expose information about that blockchain to other parties over the web.
“We’re delighted that Wolfram Research has chosen to integrate MultiChain functionality into their flagship product,” said Dr. Gideon Greenspan, founder and CEO of Coin Sciences Ltd. “We have always viewed blockchains as a general-purpose technology for creating peer-to-peer shared databases, so this integration with the Wolfram Language is a perfect fit. Despite the focus which blockchains have received in the finance sector, they are equally useful for decentralized data aggregation and collaboration in many other fields, such as science, engineering, economics and government.”
The integration with MultiChain is slated for release with a Wolfram Language version update later this year.
About Wolfram Research, Inc.
Wolfram is a powerhouse in technical innovation and has been defining the computational future for three decades. As the creator of Mathematica, Wolfram|Alpha and the Wolfram Language, Wolfram is the leader in developing technology and tools that inject sophisticated computation and knowledge into everything. Learn more at http://www.wolfram.com.
About Coin Sciences Ltd
Coin Sciences Ltd develops the popular MultiChain (http://www.multichain.com) blockchain platform. MultiChain includes features such as permissions management, native assets, data streams and simple configuration and deployment. It has been used successfully for blockchain projects in many of the world’s largest banks, consulting firms, financial technology and IT companies.
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Crypto ban in India rumors loom again
Crypto ban in India rumors is looming in the country again. Unocoin founder says rumors are bad for business. And earlier RBi crypto ban in India was quashed by the court. The potential news of the crypto ban in India to be quashed soon sends forth a wave of unanswered questions across the Indian digital […]
- Crypto ban in India rumors is looming in the country again.
- Unocoin founder says rumors are bad for business.
- And earlier RBi crypto ban in India was quashed by the court.
The potential news of the crypto ban in India to be quashed soon sends forth a wave of unanswered questions across the Indian digital market and disrupts the crypto field every now and then. With Unocoin, an old player of the crypto market adding hundreds of clients to its network daily, its Co-Founder Sathvik Vishwanath deems the ban merely speculation and news that spreads bi-yearly coinciding with the parliament session uptake.
He furthers that the news does little to the business but overall slows down the growth of the industry. While recently an Indian Bitcoin trader was forced to commit suicide after killing his wife and two children.
Crypto ban in India
Reserve Bank of India, in a bid to diminish crypto trade, had notified financial institutions to not cater to cryptocurrency-based firms and clients, however, the supreme court had canceled the notice confirming the country’s open outlook towards crypto dealings.
Vishwanath highlighted the critical need for acknowledging cryptocurrencies as a digital commodity. The vague classification and lack of information on whether it is a currency, commodity, or asset or equity keep business users confused about what rules apply to it from a taxation point of view.
The absence of clarity and standardized regulations are ongoing issues with the trade and Vishwanath believes it is playing a role in hindering its consistent growth in the region. To work around it many crypto owners have registered their firms abroad as a means to solidify business strength says, Vishwanath.
Recognizing the market potential within the region, Vishwanath informed a monthly $300 – $500 crypto trade constantly being witnessed and predicts a stark increase as more people are educated about this field’s know-hows.
Approximately 0.3 percent of India’s population is said to have knowledge of the digital trade, and Vishwanath sees it’s potential going up 5 percent. The brokerage intends to add more digital products to its lineup as and when the market demands. As per Vishwanath’s experience, 2020 has seen a major shift in focus on digital trade and has witnessed up to 500 customers signing up daily. He predicts strong investment opportunities within the field.
TA: Bitcoin Key Indicators Suggest Risk of Extended Downside Correction
Bitcoin price is down over $500 from the $13,850 swing high against the US Dollar. BTC is showing bearish signs and it could even decline below the $13,000 support.
- Bitcoin failed to stay above the $13,500 support and declined below $13,200.
- The price is currently consolidating near $13,200 and the 100 hourly simple moving average.
- There is a key contracting triangle forming with support near $13,220 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is likely to resume its decline below $13,200 and $13,100 in the near term.
Bitcoin Price Starts Downside Correction
Bitcoin price traded to a new monthly high at $13,850 before starting a major downside correction. BTC broke the key $13,500 support level to move into a short-term bearish zone.
The decline gained pace below the $13,200 level and the 100 hourly simple moving average. The price even spiked below the $13,000 level and traded as low as $12,899. Recently, there was a recovery wave above the $13,000 and $13,100 levels.
The price traded above the 23.6% Fib retracement level of the recent decline from the $13,850 high to $12,899 low. Bitcoin is currently consolidating near $13,200 and the 100 hourly simple moving average.
There is also a key contracting triangle forming with support near $13,220 on the hourly chart of the BTC/USD pair. If there is a downside break below the triangle support and $13,200, there is a risk of a fresh decline. The next major support is near the $13,000 level.
If the bulls fail to defend the $13,000 support level, it could open the doors for an extended downside correction towards the $12,600 level or $12,500 in the coming sessions.
Upside Break in BTC?
If bitcoin stays above the $13,200 support level, it could clear the triangle resistance near the $13,315 level. The next key resistance is near the $13,375 level. It is close to the 50% Fib retracement level of the recent decline from the $13,850 high to $12,899 low.
The main hurdle for the bulls is near the $13,500 level, above which the price is likely to restart its rally and it could even revisit the $13,850 high.
Hourly MACD – The MACD is likely to move into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level.
Major Support Levels – $13,200, followed by $13,000.
Major Resistance Levels – $13,315, $13,375 and $13,500.
MicroStrategy CEO Michael Saylor HODLs $230M Worth Of Bitcoin Privately
Michael Saylor, the founder and CEO of the Nasdaq-listed company MicroStrategy, has revealed that he personally HODLs nearly 18,000 bitcoins.
Additionally, he announced that his company has instituted a new Bitcoin-oriented treasury reserve policy and plans to make further BTC purchases.
Michael Saylor Owns 17,732 Bitcoins
The CEO of MicroStrategy has a somewhat compelling history with Bitcoin. As CryptoPotato reported recently, he said in 2013 that BTC’s days are “numbered.” However, he has completed a one-eighty since then and has been quite bullish on the cryptocurrency in recent months.
The company that he founded more than three decades ago bought a total of 38,250 bitcoins in two batches. This substantial amount represents 0.18% of all bitcoins ever to exist.
Apart from MicroStrategy’s holdings, Saylor disclosed today his own BTC balance.
“Some have asked how much BTC I own. I personally hodl 17,732 BTC, which I bought at $9,882 each on average. I informed MicroStrategy of these holdings before the company decided to buy Bitcoin for itself.” – he tweeted.
To put his Bitcoin holdings into USD perspective, the amount equals $230 million, with BTC’s price trading around $13,000 per coin at the time of this writing.
MicroStrategy’s Bitcoin-Focused Reserve Policy
In a recent interview, Saylor also revealed his company’s Q3 results. Apart from displaying impressive quarterly numbers, MicroStrategy’s CEO announced a compelling new treasury reserve policy that focuses on Bitcoin.
“We have also instituted our new treasury reserve policy, which states that Bitcoin will be the primary treasury reserve asset for the company for capital that exceeds our working capital needs.”
MicroStrategy plans to purchase even more bitcoins as the company generates cash beyond what it needs to run the business of a day-to-day basis.
Millions of (Unrealized) Profit
Having in mind Saylor’s averaged price when he bought his BTC stack, simple math shows that he spent a little over $175 million. As mentioned above, the 17,732 bitcoins now have a value of over $235 million. As such, his profit, should he choose to sell the coins now, would be north of $50 million.
Additionally, a popular cryptocurrency commentator Kevin Rooke brought up similar statistics regarding MicroStrategy’s numbers. He said that the Nasdaq-listed company had earned $78 million in the last three and a half years from their business endeavors. However, if they sell their BTC stack now, their profit will be about $100 million in just two months.
It’s worth noting that to register profit or a financial gain, one has to sell the asset he has previously purchased. Since neither MicroStrategy nor its CEO had actually disclosed selling their Bitcoin holdings, the numbers above provide a hypothetical viewpoint instead of hard numbers.
Featured Image Courtesy of The Business Journals
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