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Exclusive: Microsoft Registers Blockchain and AI Platform for Agriculture in Brazil

Microsoft’s technology, known as FarmBeats, uses blockchain, drones and AI to improve productivity and reduce water consumption on farms.

Microsoft has registered a suite of applications in Brazil that are designed to improve efficiency in the agriculture sector, according to an exclusive report by Cointelegraph Brazil on June 6.

The technology, known as FarmBeats, uses blockchain, drones, IoTartificial intelligence and big data to improve productivity. It has already been rolled out on farms in the United StatesIndiaNew Zealand and Kenya, achieving a 30% reduction in water consumption.

Ranveer Chandra, the scientist who created FarmBeats, recently said that the agriculture sector had been left behind by the benefits big data, AI and blockchain can bring — even claiming that hunting had seen more digital transformation despite being a smaller industry. He told business and economy magazine Epoca Negocios:

“Brazil is one of the first countries that comes to mind when we think of agriculture. We developed FarmBeats so that its technology could be applied here and in other developing countries.”

The technology is regarded as crucial as farmers struggle to make a living while competing with a changing climate and growing demand for produce, Epoca Negocios writes. Chandra explains that production needs to increase by 70% in the next 30 years if global food requirements are going to be met.

The scientist has called on Brazil’s government to embrace the technology and subsidize it in a similar way to farming equipment and fertilizer. Besides helping farmers use resources more effectively, FarmBeats claims it can enhance accuracy and yield by delivering vital statistics about the temperature, moisture and nutrients in the soil.

Microsoft has made several forays into the blockchain world of late. Last month, the United States giant released the new Azure Blockchain Development Kit for the Ethereum blockchain — aiding developers who are building apps on the network.

Also in May, the company announced it was building a decentralized identity network using the Bitcoin network known as the Identity Overlay Network (ION.)

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US Regulator FCC Eyes Blockchain in Wireless Spectrum Management Shake-Up

The Federal Communications Commission wants to transform how it awards and makes use of scarce wireless frequencies.

United States regulator the Federal Communications Commission (FCC) is considering blockchain for wireless network licensing, IT and fintech magazine ComputerWorld reported on May 6.

In a speech at last week’s MIT Business of Blockchain conference, commissioner Jessica Rosenworcel said the technology could help simplify and reduce the cost involved in dealing with so-called wireless spectrum organization.

Wireless devices all require radio waves to communicate, with the growing number of such devices and Internet of Things (IoT) expansion contributing to a shortage of available frequencies.

The FCC is in charge of saying which companies can use which frequencies, awarding rights via a complex auction process that is ripe for disruption, according to Rosenworcel.

“There’s a lot of software involved and verifying financial and technical data. We take in bids, and manage those bids and issue licenses,” she said.

The FCC has sought to upend the current status quo for several years, championing options such as frequency sharing among clients to stop available capacity lying dormant.

Under the current situation, tracking usage data also provides less-than-perfect insight into the market, something blockchain could also change.

“We have this registry from all of these licenses, but on a day-to-day basis we don’t actually know with great clarity what’s being used and what’s not being used,” Rosenworcel continued. She added:

“So if you put this on a public blockchain you’d have this record of where demand is for what airwaves.”

As Cointelegraph reported, IoT forms a central preoccupation for blockchain firms and regulators alike, which use the technology to solve a range of challenges associated with its rapid proliferation.

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IOTA Rallying by 18,300 Percent to $55 is Possible, Ardent Bull Confident

IOTA

The IOTA Foundation is behind a
project whose objective is to commandeer the world of Internet of Things (IoT).
Even so, the coin that will power that revolutionary hyper-connected world is
trading at around 30 cents, with billions in circulation and pre-mined. Regardless
of price, it’s the possibilities and low competition that supporters are
convinced the next bull wave would see the asset’s price spike to $55 when IOTA
has control of 10 percent of the IoT space.

According to a cryptocurrency analyst, Taipei Style, IOTA has the potential to surge 18,333 percent to $55 within a tentative time frame—which maybe years upon the complete roll out of 5G internet. In a tweet, the IoT fanatic and an ardent supporter says IOTA says the progress towards domination would happen in lock steps.

First, with a one percent control, its market cap would increase to $15 billion in a market which he believes is worth $1.5 trillion. If the participating rate should increase to 10 percent, then IOTA’s market cap would be around $150 billion. At this point, the IOTA price would be $55, and Taipei believes it is feasible.

Note that the last cryptocurrency
market Bull Run in 2017, IOTA reached at an all-time high of $5.25 with a market
cap of $14.5 billion. If the cryptocurrency attains that price again, then it
would account for 1 percent of the transactions on the IoT space as its market
cap retest the $15 billion level. However, that is unlikely and should it
happen, then there could be a complete shift with IOTA consensus algorithm first
of all functioning as designed and coordicide implementation flawless.

His sentiment comes a few days after another
supporter argued that all IoT firms planning to be relevant should begin accumulating IOTA coins.
The IOTA bull cites ground breaking tech and a multibillion dollar market that
companies are beginning to explore. Although critics argue that IOTA platform
is not simply a network and not designed to harvest true value in data like
what competing centralized companies—like Amazon Web Services, Google
and Microsoft are testing and improving on; the vast market is what would pique investor interest.

It is projected that by 2020, more
than 30 billion devices will be connected to the internet of things and the
sheer amount of data willing customers will be ready to share could be
overwhelming. According to a report by Forbes, the IoT
market will likely expand to $521 billion in 2021 with a CAGR of more than 50
percent spurred by increasing connection and optimism by enterprises.

Despite supporter’s projection, IOTA
is eons from the $55 mark. As we have stated above, the network’s consensus
algorithm would have to function flawlessly, without criticism and
centralization.

Then again, IOTA must have strong
partners within the manufacturing space as they roll out products with IOTA as
facilitators. It’s only when there is complete trust that IOTA could expand to
above $55.

The post IOTA Rallying by 18,300 Percent to $55 is Possible, Ardent Bull Confident appeared first on Ethereum World News.

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IOTA Revved Up On Jaguar Land Rover Partnership, Pumps 18%

Big partnership announcements have been thin on the ground
for the major crypto projects for the duration of the bear market. That trend
changed for IOTA today when the UK’s largest automobile manufacturer announced
that it would be offering cryptocurrency rewards to drivers for data sharing.

IOTA Driven Up

MIOTA markets reacted pretty quickly when the news articles started doing the rounds. From a 24 hour low of $0.261 IOTA surged over 18 percent to reach $0.310 according to coinmarketcap.com. Daily trade volume almost tripled to just over $30 billion during Asian trading this morning. Binance is currently getting most of that volume with a 40% share, primarily in BTC.

IOTA/USDT prices 1 hour – Tradingview.com

Along with the rest of the crypto markets IOTA hit a low point in mid-December of around $0.20 and it hasn’t really recovered much from that. This partnership announcement has revived the Internet of Things based altcoin which is currently one of the top performing ones in a generally flat crypto market.

According Reuters Jaguar Land Rover has begun testing
software that will use a ‘smart wallet’ to collect crypto which has been
awarded to drivers who share their data. The report added that automatic data
collection for road conditions and traffic volumes could be shared with
authorities and navigation providers. Drivers that consent to this will earn
some IOTA
which can be used to pay parking, road tolls or charging for electric cars.

The auto firm added that their goal was to “achieve zero
emissions, zero accidents, and zero congestion.” The technology, currently
being tested in Ireland, has already been installed on the Jaguar F-PACE and
Range Rover Velar vehicles. Jaguar said that it currently did not have a
timetable for when the tech would be rolled out to the public.

IOTA is the obvious candidate since the technology is
focused on automated data sharing from internet connected devices. Project co-founder
Dominik Schiener said;

“The smart wallet technology can be easily adapted into all new vehicles. IOTA wants to enable interoperability with all these different players. So there is no Jaguar coin, no BMW coin, but one universal token for this machine economy,”

The community reaction on Reddit was extremely positive with
comments such as “This is great! Usually companies just take your data. Good
approach to pay with crypto for sharing- hopefully it takes on and other do the
same,” and “Sets an incredible precedent for a big company to reward you for
sharing data. Also, it’s a great brand to be associated with… very high end.”

At the moment it is all good gravy for a cryptocurrency that
has been battered more than most by the bears this winter.

The post IOTA Revved Up On Jaguar Land Rover Partnership, Pumps 18% appeared first on Ethereum World News.

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University of Nevada, Reno Develops Driverless Vehicle Blockchain Tech With IoT Firm

The University of Nevada, Reno’s Intelligent Mobility will work with blockchain firm Filament to develop an autonomous vehicle smart city project.

A project at the University of Nevada, Reno is developing a new blockchain-powered autonomous vehicle project, according to a press release published on April 23.

The Intelligent Mobility project, coordinated by the University of Nevada, Reno and the Nevada Center of Applied Research (NCAR), has chosen enterprise blockchain and Internet of Things (IoT) firm Filament to develop an autonomous vehicle smart city project.

According to the press release, the new blockchain-enabled initiative is designed to improve safety and communication between driverless connected cars and the surrounding infrastructure.

Carlos Cardillo, director of the Nevada Center for Applied Research, explained that the growing number of connected vehicles on the roads multiplies the amount of various IoT devices, which can potentially create vulnerabilities. As such, blockchain implementation intends to expand data integrity standards, Cardillo said.

As the press release notes, the university will soon launch simulated testing of Filament’s Blocklet technology, a tool designed to empower connected machines with transactive value through distributed ledger technology. The integration of the tech will reportedly enable a trustworthy record of events by enabling attested data exchange via blockchain transactions.

Filament CEO Allison Clift-Jennings said that the university’s test vehicles will accept only Blocklet-attested data transmissions, protecting them from potential bad actors or man-in-the-middle attacks.

Yesterday, Cointelegraph reported that South Korea’s largest car manufacturer, Hyundai Motor Group, will use blockchain in its new tech for pairing electric vehicles with smartphones.

Previously, global tech giant IBM acquired a blockchain patent on a new development to manage data and interactions for self-driving vehicles.

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South Korea’s Telecom Giant KT Launches DLT-Powered 5G Brand to Prevent Hacks

South Korea’s largest telecom firm KT implemented blockchain tech to prevent hacks of connected IoT devices.

KT Corporation, South Korea’s largest telecom firm, has launched its blockchain-powered fifth-generation (5G) network brand, local news agency The Korea Times reports on April 16.

Called “GiGA Chain,” the brand intends to boost the security of Internet-of-Things (IoT) devices and to protect them from cyberattacks, the report says.

As a part of the new brand, KT developed GiGA Stealth technology that prevents hacking attacks by hiding the IP addresses of the connected devices. According to the report, the blockchain-enabled tech makes IP addresses virtually invisible to hackers.

Lee Dong-myeon, president of the future platform business group at KT, said that the company decided to improve its assurance cybersecurity measures using blockchain amid the risks of the increasing hacking vulnerability of IoT devices associated with the 5G era. In the article, KT argued that hacking attacks on IoT devices account for 99% of overall hacking attacks.

As a part of the announcement, KT also introduced GiGA Chain Blockchain-as-a-Service (BaaS) that enables organizations to use blockchain-based applications and deploy key features of blockchain, including smart contracts, that allow companies to operate transactions without involvement by a middleman.

KT added that its blockchain tech can be used for the digitization of vouchers that local governments have issued to their residents. According to the report, the South Korean city of Gimpo has already been using the firm’s blockchain-based payment system since April. The project was first revealed in mid-February 2019, with Gimpo city planning to issue over $9.7 million worth of KT’s cryptocurrency, dubbed “K token,” per year.

Earlier in April, global market research store Research and Markets published a report claiming that international blockchain applications in telecom will generate $1.37 billion in revenue by 2024.