Monday, November 30

Why IBM’s blockchain isn’t a real blockchain?

In the world of IT, the name of IBM is much known as a primary service provider in various domains. It has come up with multiple technologies in the past some years that have proven the game-changer in the market. Recently this IT giant is again in the news, and this time it is for its penetration in another segment. IBM has recently introduced Hyperledger Fabric and is in the process to launch blockchain pilots with giants like Aetna and Walmart. IBM's version of blockchain called Fabric is promoted as a permissioned blockchain, and it has features similar to Ethereum and Bitcoins. However, it is facing some criticism from market participants as it leaves a lot of loopholes that are not integral to blockchains. It is also not scalable and compatible with public blockchains, which furt...

Bitcoins And Potential Regulations Of US Federal Agencies

In 2013, an event was hosted by the US Treasury Department's Financial Crimes and Enforcement Division (FinCEN). During this event, advocates of bitcoin met with a few federal agencies to discuss the possibilities of bringing Cryptocurrency under government regulation. The discussion revolved around involving law enforcement and financial agencies such as the Federal Bureau of Investigation, IRS, Drug Enforcement Administration, Secret Service, and Department of Homeland Security. The specialty of bitcoin is that it does not have a central governing body or central bank. Customers can send it using peer-to-peer networks that don't have any administration. The money is saved in a digital wallet, and each transaction made is stored in a blockchain. Since blockchains are public records, i...