NASA Funds an Assistant Professor for Developing a Spacecraft That Uses Blockchain: OHIO

NASA Funds an Assistant Professor for Developing a Spacecraft That Uses Blockchain

The National Aeronautics and Space Administration (NASA) has been awarded a new grant from the country authorities that supports the development of an autonomous spacecraft which could make all the using of the Blockchain technology without any human intervention, also a new space outlet named outletSpace.com was reported on April 18.

The assistant professor of the electrical and computer engineering of the University of Akron, Ohio, had received a grant of $330,000 from NASA in order to support her research.

Jin Wei Kocsis, told the media that the research program would first examine the application of Ethereum-based Blockchain technology in order to make the computing system more secure in deep space:

“In this project, the Ethereum Blockchain technology will be exploited to develop a decentralized, secure, and cognitive networking and computing infrastructure for deep space exploration… I hope to develop technology that can recognize environmental threats and avoid them, as well as complete a number of tasks automatically. I am honored that NASA recognized my work, and I am excited to continue challenging technology’s ability to think and do on its own.”

The system is likely to be used underlying the “smart contracts” technology which will help us to build a spacecraft which could “think” on itself and most likely it will be made to enable the automatic detect and dodge the floating rubbish in a timely manner. Wei Kocsis has hoped that with such a technology the spacecraft will be able to complete more tasks than it is provided with and also give the scientists more time for the information analysis and they would no longer be occupied with these anticipating environmental threats.

The University of Akron has still not disclosed the timeline for the research by the professor and when would it be sent into the space. But however, Thomas Kacpura the manager of advanced communications program at NASA’s Glenn Research Center said that it will the first time ever center which will consider the Blockchain applications in the terms of space communications and navigation.

Blockchain Coalition Will Improvise Corporate Efficiency and Liquidity

As it can be seen that the Blockchain’s are continuing to mature themselves in the market also they are increasing their field of adaptation on other cryptocurrencies. The business is already increasing its efficiency, security, and transparency.

 Prior to Blockchain

The supplying management of the product- based business has always been one of the most important parts of the logistical hurdles. Companies and users have a very long back speculated relation with the helpfulness that helps them to maintain records that indicate full life-cycle to the individual’s and their products. The events have been recorded in the product lifecycle that would make it easy as an easy ability to keep a tracking the points of failure and inefficiency. Also, these make it easy for the corporations in improving the competency of their manufacturing, delivery and maintenance processes. 

However recently due to the increase in the burden of the labor, it has become too great to track any of it also the critical supply of the data of the company. Till now the most prevalent roadblock has been but the problem of the efficiency of the workers. But now by using the current resource i.e. the planning system, the relevant data must be collected, analyzed, organized and stored. By recalling upon the data is operated at different levels by different employees at the companies. Supposing in the case of shipping, the data will only be manually accessed by the second or third-party companies till it is being delivered from its origin to its destination. Employing people do to all of these tasks is very expensive and time-consuming for the companies as in order to save their time and money limited information was currently retained, and it is rarely available and transparent to the customers.

Old World but Availability of New Technologies

In order to understand the working of the blockchain, we have to understand the working of the ledgers in the work which is in practice. At first, information was traditionally stored by manually updating the database of the companies. The records which were stored in the database was the responsibility of a centralized party which was also answerable for their accuracy, organization, and its proclamation. Such databases were manually maintained by the companies as they are prone to both human errors and machination also only due to this reason there are doubts regarding the accuracy of the records.

Speaking on the efficiency and transparency of Blockchain technology, Stefan Schmidt, the CTO of Unibright states:

“Integrating the Blockchain with existing ERP systems enables enterprises to source existing data and share it in an immutable, secure, and trusted manner. What this means for corporations and their consumers is higher quality products, sourced in exceptionally cost-effective ways, with a far greater level of accountability. The significance of Blockchain business integration cannot be understated”.

The Blockchain technology helps us to improve ourselves on the traditional model of recording our database but distributing the database to different points of failure. Not only does this helps us to make the distribution of the information transparent but also it ensures the authenticity of the records. Due to there is an easy access to the data to anyone with an internet connection and an appropriate block explorer.

Unlimited usage of the blockchain

Due to the improved transparency in the market because of the blockchain, there has been a potential increase in the no. of customers which are using it. Stefan has made it clear by declaring that there is a lot of benefit in the usage of the blockchain in the mode of trading against the traditional way of ledgers. For an instance, he mentioned how due to the transparency of the batches which are being released from the companies. Due to the easy tracking of the product, an improvement has been witnessed in the perishable goods, such as food and beverages. The customer now can also determine their high degree of certainty by checking the label of the product which the true representative of the product and the manufacturer before purchasing it. 

The problem still to be solved                                                          

It is seen that the technology is being adopted by the mass at all times for their business. The technology is free and an open source which requires a very high level of knowledge and practical experience in order to implement it successfully on the employees of one’s company and after employing being successful in it. But due to these necessities, there has been a creation of the barrier in between the corporation and the technology which is very tentative to be crossed by the corporates.  Once, the barrier is being removed from the middle it won’t be required by the people to remember them.

Blockchain Industry Predominant in Business World: EU Officials

Said by Andrus Ansip, the European Commission’s Vice-President that the EU nation has decided to commit to the blockchain technology and now it will be moving out of the lab and is now going to be a mainstream.

There has been a speech which contains the central theme of the digitization by the vice president of the European Commission- the executive arm of the European Union has pinpointed in their speech that EU is ought to commit to EC’S vice-president for their technology of the blockchain. 

The official was offering the opening remarks of the European Union’s annual ‘Digital Day’ initiative held in Brussels this year when he stated:

“I would like to see EU countries make a similar commitment [as with AI] to blockchain technologies – now moving out of the lab and going mainstream. As with AI: we should make the most of this new opportunity to innovate.”

The officials present at EU have called the national government along with the private sectors of the country which have a huge contribution to the cause which was being addressed at the platform.

As per reports the EC now says it will invest €300 million in projects directly related to the use of blockchain technology. The Commission also revealed it is laying the groundwork required to establish a European Blockchain Partnership in order to promote “interoperable infrastructures”, presumably between EU nations, to enhance and foster trusted digital services.

RBI's ban on Cryptocurrencies leaves one crypto-asset unaffected.

With RBI's announcement today of the Ban imposed on all cryptocurrency sale or purchases
through banking and e-wallets regulated by them, the whole cryptocurrency market and the
crypto-economy has been shaken, stirred and many investors shattered.

 

"Your bank will not allow you to buy bitcoins anymore" reads an article from ET Online,
Bloomberg flashed "RBI Bans Regulated Entities From Dealing In Virtual Currencies", "RBI Bans
Indian Banks from dealing with Cryptocurrencies, plans own Crypto" was reported by CRYPTO
News and similar such news sent the cryptocurrency market in a tizzy. Many investors and
HODLers lost huge sums due to the ripple-effect of the news.

 

 

With Traders, Investors and HODLers selling their units of cryptocurrencies in an attempt to
salvage whatever funds they can, the market has seen a steep decline in cryptocurrency prices
in the latter half of the day.

 

 

Despite only a small fraction of the Indian populace dealing in cryptocurrencies, India accounts
to over 10% of the Global Bitcoin trade as per exchanges. There is no account of how much
Bitcoin is being traded in hard cold cash in the country.

 

 

Other than Bitcoin, India is home to a sizeable number of Investors in Altcoins such as
Ethereum, Ripple, Bitcoin Cash, Bitcoin Gold, Litecoin, Monero, Dash, Zcash, etc., of which all
have displayed a substantial drop in prices due to the move from the Apex Bank in the nation.

 

 

Amidst all the chaos one crypto-asset, that has been gathering a lot of attention recently,
stands unaffected. Money Trade Coin(MTCX) is one crypto-asset that has constantly been
evolving ever since its launch on 17th September 2017 at Burj Al Arab, Dubai - UAE. Dr. Amit
Madanlal Lakhanpal, the founder and creator of Money Trade Coin and an avid propagator of
"Cryptocurrency correct knowledge" is known for his dynamism in terms of taking Executive
Business Decisions.

 

 

Dr. Lakhanpal is an Indian entrepreneur, property developer and author. Dr. Lakhanpal is the
founder and CEO of the Money Trade Coin Group. He has also authored the book "The World of
Crypto Currency".

 

 

While the Indian crypto-market experiences what may amount to a Black-Day, Dr. Lakhanpal's
Money Trade Coin is relatively relaxed due to its conversion to a crypto-asset instead of being
merely a cryptocurrency.

 

 

With the upcoming launch of the world's first Blockchain based Diamond Trading platform, Dr.
Lakhanpal joined hands with a Member of the Private Office of His Highness Sheikh Ahmad Bin
Owaid Al Maktoum - the Al Kasir Group. The news of this upcoming partnership brings about
great relief for those who have invested or hold any amount of MTCX, for they have the option
available to redeem their MTCX for purchasing Diamonds from the Al Kasir Group. Investors of
Money Trade Coin have the option available to trade their MTCX for purchasing Diamonds.
With the redemption of 50% of the purchase value in MTCX and remaining 50% may be paid in
Fiat Currency, buyers get Certified Real Diamonds valued at par with market price.

 

 

Apart from Diamonds, MTCX Investors will have the option to trade MTCX against three new
Crypto-Assets. Al Kasir Group Crypto Solutions is a Blockchain based Crypto Asset Company
offering three unique Crypto Assets: Al Mas Coin (AMD), Al Haqeek Coin (AHP) and Al Falah
Coin (AFO). These three Coins are Crypto-Assets/Coins built on the Ethereum Blockchain. The
Coins are backed by an equivalent value of Diamonds.

 

 

With the value of these Coins being a function of not just market forces but also the value of
natural Diamonds, owners of the Coins benefit from enhanced downside protection as their
Coins can be exchanged for real diamonds on completion of the ICAO. Also, AMD, AHP and AFO
Coins are perfect counter-cyclical asset offering investors in the crypto universe protection
against adverse market movements similar to gold or bonds in conventional markets.

 

 

Al Mas Coin, Al Haqeek Coin and Al Falah Coin holders will receive physical delivery of Real
Diamonds equivalent to the Amount of purchase from Al Kasir Group's Shopping Portal which is
due to go live by 15th August 2018. Holders of Al Mas Coin may use their holding to purchase
Certified Real Diamonds from the Company’s Online Portal by utilizing 50% of the product
purchase value in Coins and the remaining 50% via Fiat Currency Payments. The same is
applicable for the other two Coins where holders will be able to redeem their Coins for Precious
Gems against Al Haqeek Coin and for Oud, Bakhoor and Attar against Al Falah Coin in a similar
ratio of Crypto-Asset and Fiat.

 

 

 

This brave new move opens a plethora of opportunities for similar businesses to take
advantage of the disruptive Blockchain Technology. However, the Money Trade Coin Group
seems to be ahead in their game already

 

Elon Musk Could Change the Way We Use Blockchain Forever

Inventor and technology expert, Elon Musk, is one of the world's most innovative personalities. He has contributed all sorts of infrastructure and inventions to SpaceX, Tesla, SolarCity, Hyperloop, OpenAi, Neuralink and his current initiative, The Boring Company. Elon is a visionary who aims to create the technology of the future and designs that he believes will help the human race. Some of his projects have helped to curb car emissions with Tesla electric cars, as well as aid in research for space exploration through the SpaceX company.

He is very influential and always trending, which is why he stirred up commotion when spotted carrying a book on cryptocurrencies. The book is by Julian Hosp and called "Cryptocurrencies Simply Explained". It is an easy guide to the world of cryptocurrencies, the blockchain, ICO, and more. The author himself is a cryptocurrency expert having worked in the field for years at TenX. His primary goal is to help teach at least a billion people worldwide about blockchain and cryptocurrencies by the year 2025.

Rumors among the crypto community speculate that Elon Musk is simply passing on the book to someone, while other claims he may be doing research into blockchain in order to incorporate it into his companies in the form of digital tokens or smart contacts. Whether their speculations are right or not, Elon is certainly no stranger to online payment platforms, with his digital financial company X.com being bought by PayPal way back in 2000. He was even appointed the CEO of PayPal for a short period before leaving due to clashes of interest with the other leaders. He was one of the biggest shareholders of PayPal stock and in 2002 when the company was sold to eBay, he made a huge return with 165 million dollars.

To think Elon was reaching into Crypto territory is not far-fetched at all. He has enough experience with online payment systems and technology, so blockchain is not too far ahead of him. If he incorporates Blockchain or digital tokens into his companies or starts a cryptocurrency company of his own, those that know his history will not be surprised. Over the years, it has become public that Elon holds 0.25 of Bitcoin that was given to him as a gift many years ago. The value of this amount is roughly two thousand dollars, which is a small amount for a personality like Elon Musk.

Despite his presumed lack of interest in cryptocurrency at present, the chances are high that this tech giant will embrace blockchain in the near future. The crypto community waits in anticipation for his next project that would surely make a dent in the industry.