Predicted in 2016 ..
However, given my investigations, this is NOT what the governments of the world - (well, the UK) want.
Gospel will struggle to sell in the UK :(
Startup Gospel Technology is evangelising the use of Blockchain to secure and verify sharable data. Blockchain technology provides a way of doing this, claims Gospel, which says it's found a simpler way than any alternative methods. The early stage firm was founded in December last year by CEO Ian Smith, who was co-founder, …
That if blockchains are compute and network intensive that as more data is added it becomes uneconomical to continue to hold onto the data? Especially if the data is rapidly changing as well as increasing in size (I thought that was one of the limitations of bitcoin that it was of a finite size for the initial data that the blockchain revolves around?) Surely then if it's in a constant state of flux and increasing in size the overheads would become exponential?
I might however be totally wrong in any of those assumptions so I'm happy to be corrected.
"That if blockchains are compute and network intensive that as more data is added it becomes uneconomical to continue to hold onto the data? Especially if the data is rapidly changing as well as increasing in size (I thought that was one of the limitations of bitcoin that it was of a finite size for the initial data that the blockchain revolves around?) Surely then if it's in a constant state of flux and increasing in size the overheads would become exponential?"
Pretty much, yes. The computing time required to record the transactions becomes more and more onerous. At the moment the people recording this information are rewarded with Bitcoins. Let's see what happens if that is no longer the case.
This is indeed one of the reasons a (shared?) permissioned distributed ledger may be a better solution going forward than an anonymous unpermissioned one. By choosing for HyperLedger we have the ability to not having to use cryptocurrency. It is our intent to make the Gospel platform as wide as possible from integration perspectives; on premises over multiple data centers, may or may not be in control of one company or a group of companies. Could run over multiple types of public cloud, ... We feel we should not be the ones dictating your (= Entprise company) infrastructure choices.
>> That if blockchains are compute and network intensive that as more data is added it becomes uneconomical
The hyperledger fabric is pluggable so a consensus algorithm can be chosen to be neither compute or network intensive. Finding a suitable correct algo and verifying its correctness is an interesting task and that is where much of the secret sauce which give this business value could be.
In my opinion this is a good use case for blockchain. I wish them good luck.
How this is in principle any different from giving people a database of encrypted rows, and providing a way for them to get the key to unlock certain rows? This is probably a little simpler, and you can post the blockchain publicly, but they appear to be making claims about its security that they can't deliver on.
Sure, it sounds like this could prevent someone who gets hold of the blockchain from reading the data within, just like if they got hold of the encrypted DB. But once you've accessed the data and have it in plain text, if for instance it is a list of email addresses, you can do anything you like with them. There is nothing that can be done to the blockchain to revoke the access of someone who has abused their access, once they extract the plaintext it is no different in principle than mailing them a CD. If they can know you accessed those email addresses that's great (they'd only assume it with the CD) but that doesn't change anything.
Once again, blockchain is a solution looking for a problem. Though at least this time they're trying, it is better than the previous crap uses I've seen.
"How this is in principle any different from giving people a database of encrypted rows, and providing a way for them to get the key to unlock certain rows? This is probably a little simpler, and you can post the blockchain publicly, but they appear to be making claims about its security that they can't deliver on."
I agree. It sounds like rubbish to me. I don't see how you can, after giving someone the e-mail address of a third party, stop them using it any way they want with 'the cloud', 'blockchain', or any other word off the Bullshit Bingo card.
disclaimer; I do represent Gospel.
There are multiple ways to peel an orange as there will be multiple ways of securing data. We feel Distributed Ledger Technologies can help here for securely sharing corporate information. As these technologies (and it's implementations) are fairly new, we do understand that there is going to be a need for educating the market on its merits. Please do stick around and give it the benefit of the doubt for now ;-)
Disclaimer: I do represent logic and reasoning. (I'm a mathematician.)
"There are multiple ways to peel an orange as there will be multiple ways of securing data."
Q: Does the person get the e-mail address in plain text?
If so, it cannot be secured. If not, you won't be able to send e-mail to the person.
"we do understand that there is going to be a need for educating the market on its merits."
It's not the merits I have an issue with. It's the possibility of its existence. If you want to secure the data, the person you are securing it from, which appears to be the user in this case, can never get it in unencrypted form.
I agree with you and share your concerns. We will go into details about the specifics of the technology at a certain stage and we do prefer rather sooner than later. That begin said we're not even public with our v1.0 yet. In general, DLT is an early stage technology and there's going to be lots of roadmap we'd like to get in there on day one that just won't be possible. I'll be the first to welcome you to show us the flaws of our designs!
If you are genuinely interested, you can always find me at firstname.lastname@example.org
>> If you want to secure the data
Your point is a good one, I question what they mean by "secure" if they mean secure against undetected tampering then the claim stands . If they mean secure against access, well thats more difficult and there are already many ways of doing this in use already and the world economy relies on them. We all know these methods fail when put in contact with humans and I expect that to continue whatever technology is used.
US government sponsored research is casting new light on the security of blockchain technology, including the assertion that a subset of a distributed ledger's participants can gain control over the entire system.
The finding is part of a study [PDF] conducted by IT security researchers at Trail of Bits and commissioned by the Defense Advanced Research Projects Agency that points to several ways in which the immutability of blockchain – the distributed ledger on which Bitcoin and other cryptocurrencies rely – can be called into question.
Comment Microsoft co-founder Bill Gates has declared that "expensive digital images of monkeys are going to improve the world immensely."
He was joking, obviously, though considering Gates's supposed connection to microchips in vaccines, one can never be too careful. What he's talking about are non-fungible tokens (NFTs), which came up at a TechCrunch event in Berkeley, California, on Tuesday. Specifically the Bored Ape Yacht Club variety.
You know those kids' books where the picture is divided into three (head, body, legs) so you can turn different sets of pages to get a different image? That's what the Bored Ape Yacht Club is for those willingly parted from large amounts of money for the right to stand next to a picture of a cartoon chimp.
China’s Supreme People’s Court has issued an opinion calling for massive adoption of blockchain across China’s judiciary, financial sector, and government, and for the technology to underpin intellectual property in the nation.
Published last week, the opinion* reveals that the Court has already recorded 2.2 billion items on a judicial blockchain. The Court now suggests 32 more initiatives, most of which concern using blockchain to enhance efficiency of, and trust in, the nation’s judiciary.
But the recommendations also go far wider, calling for the creation of “an interoperation collaborative mechanism with blockchain platforms”. That effort will allow “market regulation, property registration … and enable inquiry about and verification of information related to the ownership registration and status of transactions, such as basic business profile, variation of corporate equities, correlation between businesses, ownership of immovables and movables, financial leasing, precious metal trading, to facilitate the identification of ownership and transactions of property rights, so as to intensify the development of the classified and categorized supervision system based on data and credit, and to further improve the national business environment.”
A flaw detected in the browser version of the Ever Surf cryptocurrency wallet could have given hackers who exploited it full control over a targeted user's wallet, say threat hunters at Check Point Research.
The security vulnerability made it possible for threat actors to decrypt the private keys and seed phrases found in the browser's local storage, opening the door to cracking the victim's wallet and accessing the cryptocurrency stored there, the researchers wrote in a blog post Monday.
"As the browser's local storage is unprotected, the data stored there must be securely encrypted," they wrote. "Despite the fact that Surf uses reliable cryptographic libraries for the key derivation and the encryption, the sensitive data in the web version of Surf doesn't appear to have adequate protection."
HPE has lifted the lid on two new AI products, one aimed at enterprises wanting to build and train machine learning (ML) models at scale, and a second that introduces a decentralized ML system to enable distributed or edge deployments to share updates to their models.
Now rebadged as the HPE Machine Learning Development Environment, this is integrated with HPE compute infrastructure to deliver a system that HPE claims can speed up the typical time-to-value from building and training machine models from weeks or months to days.
Miscreants exploited a now-fixed design flaw in the Rarible NFT marketplace to steal a non-fungible token from Taiwanese singer and actor Jay Chou and sell it for about $500,000.
That's according to folks at Check Point, who on Thursday said the vulnerability could have been abused by crooks to gain full control of victims' marketplace accounts and the funds in them. Earlier this month, Chou said his NFT was stolen in what looked like a phishing attack.
When researchers Roman Zaikin, Dikla Barda and Oded Vanunu investigated the security shortcoming they found that fraudsters could lure users to click on a link to malicious NFT, enabling them to take control of their marks' Rarible accounts using a standard called EIP-721.
The Australian Securities Exchange (ASX) is attempting to replace its core trading systems with a blockchain-powered alternative – an effort often touted as one of the world's most significant blockchain implementations. Unfortunately, the project has struck trouble, again.
The application in question is called "CHESS" – the Clearing House Electronic Subregister System. ASX trading data suggests it handles 39.7 million trades in an average month. The Register understands the platform was built in COBOL and runs on servers running the discontinued Itanium processors cooked up by HPE and Intel in the 1990s – a combination that saw the ASX announce a blockchain-based rebuild in 2017, with a planned go-live in 2021. That was subsequently revised to April 2022, then April 2023.
The ASX liked the idea of a blockchain-powered bourse because it would mean market participants could store their own copy of the distributed ledger that recorded the state of the market. Orders placed on participants' own systems would be mirrored across the network of participants, with all entries immutably recorded – just the way traders and regulators like it.
Analyst firm Forrester Research has had a look at Web3 – the buzzword describing blockchain-powered decentralized metaverse-y stuff – and decided there's not a lot to like.
The firm this week issued a pair of documents assessing Web3.
The first, titled "Web3 And Web 3.0 Are Synonymous Today – But This Wasn't Always True", points out that the term "Web 3.0" was first used in the mid-2000s, when it was used interchangeably with Sir Tim Berners-Lee's vision of a "semantic web". The term re-emerged in 2014 when Ethereum cofounder Gavin Wood suggested the Ethereum blockchain become the foundation for a decentralized web.
China's president Xi Jinping has declared "there can be no modernization without informatization,” and outlined a strategy for how the world's most populous nation will use information technology to transform society and government.
A document posted by the Cyberspace Administration of China (CAC) quotes Xi as saying "informatization has brought a once-in-a-lifetime opportunity to the Chinese nation" and outlines a range of digital transformation tasks that must be achieved under the 14th five year plan (2021–2026) to achieve the desired level of digitization.
One development touted as enabling Chinese society to reach its next level of digitization is the creation of a "one card" which will expand on China's existing digital social security card that serves in employment and social insurance matters. The proposed card will add integration of government services, medical and drug purchases, subsidy management and more.
SaaS CRM provider Salesforce has proposed to launch a platform for trading non-fungible tokens (NFTs).
For those who prefer living under rocks to the hellish infotainment torrent of the 21st century, NFTs are non-interchangeable digital units stored on an immutable blockchain ledger. Why do we care? Money.
Reportedly, digital artist Pak's The Merge was bought for $91.8m in December, with 28,983 collectors snapping up 312,686 total units of mass, otherwise known as a non-fungible token, the largest NFT sale at the time.
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