Welcome!

Eclipse Authors: Pat Romanski, Elizabeth White, Liz McMillan, David H Deans, JP Morgenthal

Blog Feed Post

Is BritCoin the future of digital currency and money as we know it in the UK?

Monday 21 July, 2014
So the first question you may be asking yourself, what is BritCoin ? It is the first British based decentralized peer-to-peer digital currency available for individuals and businesses to send and receive payments digitally. So what does that mean and why is it important? By being fully decentralized, BritCoin is completely in the hands of the users, the British public. There is no ‘owner’ of BritCoin. Just like the Internet, anyone with access is part of the network. A public ledger, known as a ‘ blockchain ’, is used for keeping records of individual wallet balances and transactions, which is maintained and updated by each individual wallet on the BritCoin network. It is important to note that only wallet addresses and timestamps are stored, personal information is never stored. Think of the BritCoin wallet as a personal bank of which you have full control over. This has huge implications for British commerce and society as a whole since businesses and individuals can now send and receive payments directly to each other without the need for central banks or Governments.This means there are virtuallyno transaction fees (currently only a fraction of a penny) on either end of the transaction; funds go directly from one wallet to another without any 3rd party involvement includingcentral banks or payment gateways such as PayPal. So what about Bitcoin? You may have heard about Bitcoin in the news increasingly over the past few years. It is the original global crypto currency and was the foundation for what eventually became BritCoin. The code is completely open source, so everyone is able to see exactly how exactly BritCoin works. So what’s the difference between BritCoin and Bitcoin? BritCoin has ironed out the many flaws and issues associated with the current Bitcoin system, for instance the transaction verification time has been cut down from over 10 minutes to a matter of seconds. Another great innovation BritCoin brings to the table is the fact it is now proof of stake (PoS) which means you receive 5% annual interest on all coins kept in your wallet. This is how new coins are created and how the network is secured. As opposed to Bitcoin where mining new coins has become nearly impossible without large investments into specific mining hardware. It’s defining feature though has to be the fact that it’s British, has a professional brand for commerce, and a dedicated team of developers with an active community working on improving and promoting it. BritCoin was launched on the 27th of June 2014, making it a very new and exciting prospect for early adopters and especially digital currency speculators. You may be aware of Bitcoin’s meteoric rise in value in the past 2 years, going from $6 per coin in 2012 to its current price of $620. Some speculators believe that history will repeat itself once again, with nearly the same amount of BritCoins in existence as Bitcoins, the current price is extremely undervalued and set to grow. With great new development and services to use BritCoin with coming soon, now is the perfect time to get involved and be part of something special in the world of finance and society as a whole.


Distributed by http://www.pressat.co.uk/

Read the original blog entry...

IoT & Smart Cities Stories
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Whenever a new technology hits the high points of hype, everyone starts talking about it like it will solve all their business problems. Blockchain is one of those technologies. According to Gartner's latest report on the hype cycle of emerging technologies, blockchain has just passed the peak of their hype cycle curve. If you read the news articles about it, one would think it has taken over the technology world. No disruptive technology is without its challenges and potential impediments t...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of San...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...