Will Gold-Backed Cryptocurrencies Outperform Bitcoin, Ethereum and Litecoin?

Friends, a token or coin is issued that represents a value of gold (for example 1 gram of gold equals 1 coin). The gram of gold is stored by a trusted custodian (preferably third party), and can be traded with other coin holders. Some countries starting with Kyrgyzstan in central Asia plan to issue their own national cryptocurrencies backed by gold. If the cryptocurrency becomes popular then the price of the coin can potentially increase in value, greater than the value of gold. Much more mainstream is the UK’s Royal Mint, the government institution responsible for producing all the physical money the country has for circulation, which has announced the launch of its own gold-backed cryptocurrency. It is a Blockchain-based coin called Royal Mint Gold (RMG), is a digital representation of gold. Thus, the key question for investors and researchers alike is simply this: Will gold-backed currencies outperform other cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc.? Send us your comments. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

At the Intersection of Blockchain and Big Data

Friends, most of us know that Blockchain is an enabling technology that is poised to transform industries and their business processes. Even more exciting is the potential when Blockchain is integrated into other emerging technologies such as Machine Learning, AI and Big Data. Such nexuses are boni fide strategic multipliers. Big Data analyses are performed by building models, based on the data we can collect, and then running simulations, modifying the value of data points each time and monitoring how it impacts our results. Blockchains greatly improve transparency in data analytics. Unlike previous algorithms, Blockchain design rejects any input that it cannot verify and is deemed suspect. Analysts in industries like Retail only deal with data that is completely transparent. The customer behavior patterns that Blockchain systems identify are likely to be much more accurate than it is today. That is the concept. But in reality will the nexus of Blockchain and Big Data fulfill this vision? Send us your comments. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Assessing the Impact of Blockchain on Anti-Money Laundering (AML)

Friends, Blockchain provides users with a digital public record of Bitcoin transactions (the digital currency through which these transactions are conducted) that have been executed by a particular entity. It is inherently difficult for hackers to manipulate. Copies of the Blockchain are distributed across potentially thousands of participants in the database. The results is that hackers would have to individually access and manipulate every single copy of the distributed Blockchain. Leveraging a Blockchain platform for AML nationwide or across a geographical region will give regulators, auditors and other stakeholders an effective and powerful set of tools to monitor complex transactions and immutably record the audit trail of suspicious transactions across the system. We believe that Blockchain applied to AML has great potential benefit to the banking and securities institutions such as the US SEC and FINRA. And in turn, may also help impede nefarious transactions of state-sponsored terrorism and mitigate strategies intended to subvert economic sanctions placed on Russia, Iran and North Korea. Send us your views. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Can the Quantum Resistant Ledger (QRL) protect Blockchains from Quantum Computer Security Risks?

Friends, the Quantum Resistant Ledger (QRL) project is a public Blockchain ledger designed to be secure against quantum computing (QC) advances. Unlike existing ledgers, the QRL is specially designed to use a form of post-quantum secure signature for transactions called XMSS. The QRL also uses a low power proof-of-stake (POS) algorithm which again utilizes iterative hash-chains and provably secure hash-based pseudo random number functions. The POS algorithm is designed to have zero reliance upon conventional signatures which are vulnerable to a sufficiently powerful QC and allows nodes to run on low power devices such as raspberry PI’s or laptops and passively earn income by staking. Quantum computers, with their increased efficiency, could solve it much quicker with their better computing capabilities. This could make current encryption technology ineffective and question the use of Blockchains. Let us know your thoughts today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

A New Opportunity for Cryptocurrency Investors – the Coinbase Index Fund

Friends, when it comes to cryptocurrencies investors are beginning to have more options to select from. Most of the hype in the press and media is about individual traders who make or loose a fortune buying and selling Bitcoin, Ethereum, Litecoin, etc. I liken this to the Dot.com boom and bust of the late 1990s. In the past two years we have seen bona fide “investment” funds – both passive and actively managed – infiltrate the cryptocurrency and Blockchain arena including BLCN, BLOK, Bitwise HOLD 10 Private Index Fund, GBTC and many more. This list just grew by one – enter the Coinbase Index Fund which provides investors exposure to all digital assets listed on Coinbase’s GDAX exchange weighted by market cap. Investors must be US-residents and have a $10,000 USD minimum to invest. Send us your feedback. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

How will Blockchain transform the Cost of Trust paradigm?

Friends, a major goal of Blockchain technology is to save time and money for businesses and their customers -- the product of which will be increased trust and transparency in many currently opaque industries. As transactions are executed and settled on a distributed ledger (DLT), counterparties do not need to have an established trust relationship. Deloitte Technology Consulting believes a new "trust economy" is now developing around person-to-person Blockchain-enabled transactions that are not dependent on more traditional methods such as credit ratings or guaranteed cashier's checks. An immutable and distributed ledger can be more secure than even a centrally managed relational database because there is no single server or node to attack. Let us know your predictions. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Assessing the impact of Blockchain on the future of Personal Genomics

Friends, professionals with even a superficial understanding of know that Cryptocurrencies are only the starting point for Blockchain technology to transform business models far beyond financial services and currency trading. Enter Personal Genomics which has the capability to transform Healthcare and Medical Services. Application of Blockchain will be a lifeline allowing to upgrade the development of Personal Genomics enabling each person the owner of his or her genetic data. Nebula Genomics – an offshoot of Harvard Medical School plans to address challenges facing Personal Genomics by mapping individuals’ genetic blueprints. Other vendors that are rapidly entering this segment include Luna DNA, Gene Blockchain  Encrypgen  Luna DNA  Zenome Longenesis , and Zenome. What will be the future impact when two transformational technologies – Personal Genomic and Blockchain – meet in the laboratory and ultimately the global marketplace? For further insights see the Center for Genetics and Society’s article entitled “Personal Genomics Meets Blockchain” and send us your comments. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)