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 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.

Myths about the Bitcoins and how can they be Busted: Expert Takes

Expert Takes has voiced the opinion of their leaders from the inside and outside of the crypto industries who have expressed their views, also have shared their views on their experience and gave their professional advice. Expert Takes had covered everything from the Blockchain technology and ICO who are funding the taxation, regulation and cryptocurrency adoption in different sectors of the economy.

The Prices of Bitcoin when goes way too high

The fact cannot be ignored that the Bitcoins have always more than 60 percent from its high time, the price of      1 Bitcoin- around $ 7,000 at some time of writing, this discouraged a lot of people from entering the market. Since the mid of 2017, it is only Bitcoin which has been on the front pages of most of the newspapers still most of the people of the world are clueless as to how can they buy the Bitcoin even if not a whole but even a fraction of it. So let’s set the record straight: 1 Bitcoin can be divided into 100 million satoshis (the smallest Bitcoin unit). Just because one cannot afford a full gold bar - which are $600,000 a piece - does not mean one cannot buy a gold coin or invest as little as $126 through a Gold ETF to get exposure to gold. The same thing can be done with Bitcoin.

The Price of Bitcoin is very Unpredictable 

No arguments can be made on the statement that the price of the Bitcoins varies a lot in nature. So before investing in it, the investors have to think a lot as all they hope is to gain profit instead of gaining losses after such a huge investment. It is for the first time in the history of currencies that a currency is not under any central bank or country. Cryptocurrency is a stand-alone individual currency which doesn’t have an owner above its head.

Cryptocurrency is very volatile and they have a large speculation around the world. Also, its assets have a large spread in the world of finance. So if someone wants to invest in cryptocurrency they should know about it thoroughly and should only invest if they can afford to face some loss in the trade. The most valuable thing you can invest in it is time. If we have time then there are very fewer chances for someone to face loss in their investment.

Bitcoin is very harmful to the Finance Environment

It is said that if the origin of something is unknown to us it can never be good for the health and environment around us. The saying is a perfect for the Bitcoins as it is said to be mined by Satoshi Nakamoto, back in 2009 whose identity is unknown to the world except for the name.

The mining of this cryptocurrency took only 10 minutes to be mined through a simple laptop and has mined a block for itself as it does today. The puzzle through which you mine is pretty difficult for a person to crack as the algorithm used for it is quite different and difficult for people to understand. But after solving it we receive a reward within the span of 10minutes that is the average time required to gain the reward.

The reason why the miners have invested billions of dollars in Bitcoins because due to its demand the price of the currency keeps rising high and high and then people gain profits from it. For e.g.- At $7,000 per Bitcoin, the current annual cost of the Bitcoin network is $4.6 bln, and a sizable portion of it spent on electricity bills. But what the Bitcoin network provides for this cost is a Blockchain that is unhackable by any existing computer or technology on the planet.

The currency is misused by the drug dealers and money launders

When the transaction of one bitcoin is made public, which is not exactly ideal as if you are looking to engage in illegal activities. There has been a release of two reports stating that only 1 percent of all Bitcoin transactions are used for money laundering and 44 is being used for other illegal activities. These anonymously as many exchanges follow Know Your Customer (KYC) and Anti Money Laundering (AML) procedures when registering users. This is where criminals using cryptocurrencies will get caught as law enforcement agencies are monitoring these exchanges. So cash will probably remain the currency of choice for criminals for the time being.