Connect with us

Technology

Australia To Trial World’s First Cloud-Based Passports

Published

on

Australia has moved to introduce passport-less travel in a disruptive move that could cause bureaucracies throughout the world to reconsider business as usual. Australian Foreign Affairs Minister Julie Bishop predicts her country’s move will go global.

// -- Discuss and ask questions in our community on Workplace.


The Australian Department of Foreign Affairs reportedly held a hackathon – all encompassing of an X-Factor style audition before the secretary Peter Varghese, Foreign Affairs Minister Julie Bishop, Assistant Minister Steve Ciobo and Chris Vein from the World Bank.

We think it will go global.

– Foreign Minister Julie Bishop told Fairfax Media.

Earlier in 2015, diplomatic corps in Canberra looked for a “radical rethink of business as usual” for Australia. Over half of the global staff in more than 100 locations throughout the world submitted, voted or commented on at least one of the 392 pitches to the “DFAT Ideas challenge.” As Sydney Morning Herald (SMH) describes:

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

The top 10 were presented to the quartet of judges, who favoured the idea of passport-less travel. Under a cloud passport, a traveller’s identity and biometrics data would be stored in a cloud, so passengers would no longer need to carry their passports and risk having them lost or stolen. DFAT says 38,718 passports were registered as lost or stolen in 2014-15, consistent with the 38,689 reported missing the previous year.

Australia and New Zealand, moreover, have entered discussions about trialing such cloud passports together. Ms. Bishop, who unveiled the idea at the InnovationXChange, cautions about strict security requirements needed to store biometrics in the cloud, yet remains optimistic for the possibilities which exist.

InnovationXchange is the minister’s personal initiative. The attitude at the InnovationXchange headquarters is said to be laid back. Ms. Bishop claims the headquarters “would be at home in Silicon Valley.”  As SMH writes:

Staff dress casually and are encourage to shun suits. But the serious results they are already achieving in InnovationXchange’s short life are attracting attention from other departments, which have visited the team of nine staff to observe how they are challenging the cultural norms of bureaucracy.

This is not the first nation-state initiative towards a cloud-based passport and governance system. Estonia’s e-Citizenship program seeks to automate many government bureaucracies.  Here are just some of the services:

  • e-Cabinet
  • e-Law
  • e-Police
  • e-Prescription
  • e-School
  • Electronic Health Record
  • m-Parking

The e-Estonia model of web-based governance is quite radical.

“We hope that in the future the development of the e-Residency platform may be compared to the Apple App Store or Android Google Play,” the project stated.

InnovationXchange is pioneering an initiative inclusive of a US$100million data collection service in partnership with Bloomberg Philanthropies. Former New York mayor Michael Bloomberg sits on Innovation Xchange’s reference group. His organization will pledge $85 million with the Australian government contributing $15 million.

“That’s my idea of public-private leverage,” Ms. Bishop said.

Basic births and deaths in 20 countries will be collected and will be available to governments, NGOs, and the media.

Image from Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

1 Comment

1 Comment

  1. andrea

    October 31, 2015 at 12:39 pm

    OH YEAH , Nothing wrong with hacking this system at all is there! what a stupid idea for all freedom loving people in this world. tracked by a “cloud” now truly nothing will stop them from tracking you no matter where you physically go..let alone your banking ( e-chip_ your car, your purchases, your travels to what country, DO NOT let these “people” rule you like this. NO to cloud based passports we are not tied to a “passport” we are free people’s!!we don’t a stinking passport . Next will we need permission slips to walk the sidewalk to work?

You must be logged in to post a comment Login

Leave a Reply

Technology

Trade.io Aims to Solve the Problems Plaguing Online Forex Brokers

Published

on

If you’re looking to trade online forex, the first question is determining which brokers are reliable and which are total scams. The annals of Web 2.0 are filled with an ungodly number of forex scams, shady businesses and multi-level marketers. This has spawned an entire community of vigilantes looking to keep pace with the latest forex scam hitting the market.

// -- Discuss and ask questions in our community on Workplace.

Although reputable brokers have secured a mile-wide lead on the competition, the retail forex world still has a long way to go to clean up its image. Exuberant fees and a lack of transparency are just some of the issues that currently plague the industry.

It is against this backdrop that Trade.io launched its blockchain-based trading platform.

Trade.io Platform

The company recently launched its pre-ICO with great fanfare, attracting nearly $9 million in funding with time to spare. According to the company’s whitepaper, the platform offers cryptocurrency trading as well as broad access to forex and contracts for difference (CFDs) spanning precious metals, oil, commodities, indices and equities.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Trade.io will use blockchain technology to launch a peer-to-peer trading platform that also functions as a launchpad to other token raises. Hacked has also learned from the team at that it will sponsor an academic incubator to further advance the blockchain space. Clearly, this is about more than just trading.

But on the subject of trading, the Trade.io team identified three major problems their platform was trying to solve.

Problem 1: Dealing desks

When it comes to forex trading, a dealing desk allows brokers to offset trades issued by their clients. In other words, they can give their client real market conditions on MT4, but don’t actually fulfill the trade. In the event that the trader earns profit, the broker pays out of pocket. From the broker’s perspective, this is where solid risk management skills are needed.

By leveraging blockchain and peer-to-peer technology, all brokerage transactions will appear on the public ledger. This effectively makes it impossible for brokers to trade against the client.

To be fair, dealing desks aren’t inherently bad, provided that the broker is liquid and in good standing. It’s also never a good idea to claim you do not operate a dealing desk when you do in fact work one. (Let’s just say this is more common than you think.)

Problem 2: Lack of transparency

One of the most powerful aspects of the blockchain is transparency, and this cuts across many lines. Online brokerages have been known to nickel and dime their customers via inefficiencies and exorbitant fees. Trade.io says its platform will reduce, and in some cases, eliminate high fees associated with the financial markets. We are not sure if this also applies to spreads, but we may soon find out.

Problem 3: Lack of innovation

Although forex brokers have been known to move swiftly on technology, they all tend to follow the same standard template. This extends beyond the assets covered to include the trading infrastructure (i.e. MT4/MT5) governing their platform. According to Trade.io, these brokers have been especially slow at integrating new blockchain solutions. This, in fact, is currently impacting much of the financial industry.

The people at Trade.io are attempting to incentivize participation through the public ledger. This appears to be more of a holistic strategy than any one particular selling point. According to the whitepaper:

“Blockchain technology changes all that for the first time due to its decentralized, incorruptible nature. Control isn’t handed over to a single entity, organisation or government, but rather is shared among all of its network users, thus transparency may be achieved at last.”

It remains to be seen whether Trade.io or platforms like it will be able to solve the myriad of challenges facing online brokers. The blockchain certainly isn’t the only new paradigm shift impacting the forex world. However, there’s little to suggest that brokers cannot integrate it to their benefit.

Social trading is another paradigm shift that the brokerage community has embraced with open arms. The results have been quite positive as more platforms enable collaboration among traders, analysts and other market participants. Blockchain might prove a little more complex, but resilience isn’t something that the best brokers have necessarily lacked.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. 

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Artificial Intelligence

Bitcoin Giant Bitmain Enters the High Stakes AI Race

Published

on

Artificial Intelligence

The Sophon, named for a fictional proton-sized supercomputer, could be the tool to train neural networks in data centers worldwide. It is the latest project being developed by Bitmain Technologies Ltd., the bitcoin mining giant that has carved out a dominant position in bitcoin mining.

// -- Discuss and ask questions in our community on Workplace.

Such chips, called application-specific integrated circuits (ASICs), could unleash a new wave of distributed computing, according to Michael Bedford Taylor, a University of Washington professor who studies bitcoin mining and chips.

Sophon is due to debut before the end of the year.

Bitmain Has The Know-How

Bitmain has the background to play a role in the expanding artificial intelligence industry. The company designs the silicon that goes in bitcoin mining equipment, assembles the machines and sells them worldwide, in addition to its own bitcoin mining operation and the ones that it manages for other mining pools.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Bitmain’s founders are not averse to playing a spoiler role.

Jihan Wu, the co-founder of Bitmain, supports the New York Agreement that seeks to double the bitcoin block size under the SegWit2X proposal, a move that some in the bitcoin community view as an attempt to give the miners control over bitcoin.

Some also believe Wu was behind the recent bitcoin split known as bitcoin cash, which at least one of Bitmain’s miners supported, a contention that Wu has denied. Wu points out that he was among the supporters of Bitcoin Unlimited, an earlier bitcoin scaling proposal that did not get activated.

Why Wu Supports Forks

Wu nonetheless said splits should be allowed. He said a fork is inevitable since people in the bitcoin community do not agree on how to best scale bitcoin.

Wu met Micree Zhan, Bitcoin’s co-founder, when Zhan was running DivaIP in 2010, a company that made a device that allowed a user to stream a TV show on a computer screen.

In 2011, Wu needed a chip designer to build a mining operation and approached Zhan. Zhan first designed an ASIC to run SHA-256, the cryptographic calculation used in bitcoin, at maximum efficiency. It took him six months to finish the job. His first rig, Antminer S1, was ready in November 2013.

Bitmain felt the sting of the 2014 Mt. Gox meltdown. But by 2015, bitcoin’s price bottomed out and later recovered. In the meantime, Bitmain introduced its Antminer S5.

Bitmain now employs 600 people in Beijing.

Also read: Bitmain clarifies its ‘bitcoin cash’ fork position

Ready To Take On Google

Bitmain has since developed a deep learning chip with improved efficiency. Users will be able to build their own models on the ASICs, enabling neural networks to deliver results at a faster pace. Google’s DeepMind unit used this technique to train its AlphaGo artificial intelligence.

Bitmain plans to sell the chips to any company looking to train its own neural nets, including firms like Alibaba, Tencent and Baidu. Bitmain could build its own data centers with thousands of deep learning rigs, renting out the computation power to clients the way it does with bitcoin mines.

Professor Taylor said companies like Bitmain that have excelled in bitcoin mining could take on the Googles and Nvidias since they have developed the skills to survive in an ultra-competitive and highly commoditized industry, and have the system level design expertise and the ability to reduce data center costs.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Analysis

Cloud Storage: Mature Saturation or Early Adopter Phase?

Published

on

Cloud storage options have been available at a consumer level for decades, in fact, if you consider them properly. One of the earliest such options was called iDrive, which began operations in 1995. A private company, they are still in operation, offering services that directly parallel that of their newer rival, Dropbox. Additionally there have been efforts like Carbonite and Google Drive.

// -- Discuss and ask questions in our community on Workplace.

It seems that the curve of technological adoption begins with centralized services and is later revolutionized by decentralized ones. In the same way that Bitcoin and cryptocurrencies in general are in the early stages of disrupting how people transmit money, Storj, Filecoin, Siacoin, and others are in the process of disrupting cloud storage. However, what is unclear to this author at this point is how much this market really can be worth long-term.

While there has been a period of time where extremely fast local storage was more expensive, these prices are coming down now. You can buy a 1TB SSD drive for a few hundred bucks, and with two of them you can have a RAID setup for redundancy. The price of extremely reliable, extremely fast, and extremely large drives is only going to continue coming down. How long before it’s so inexpensive that the concept of charging for access to it is less enticing? Even large firms with scaling needs might eventually be able to do it cheaper in house as the cost of hardware comes down.

Okay, so it’s unlikely that this will be a huge problem for the industry. In digital services, virtually everything has a market. Fair enough. But we must also consider what advantages these decentralized offerings have over their centralized counterparts. For one thing, encryption and security are sort of at the heart of the networks. As such, only the file owners are able to view their contents. This has great value to international firms, legal firms, and more. There may be cases where someone determines a file is safer in an encrypted cloud than in a local semi-encrypted disk.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

Then there are businesses where no amount of redundancy is too much, such as web hosting companies. Apart from Siacoin, Storj, and Filecoin, there is also SONM, for which storage is just one more computer resource they would like to allow people to distribute in a decentralized manner. SONM appears to this author as one of the most technologically interesting solutions to the problem of computer resource costs.

Forbes says that that we will see close to $300 billion spent on cloud services this year alone. It would seem that as more and more people come online from remote parts of the world, there will be a higher demand for inexpensive storage and back-up services. The long-term trajectory of all decentralized efforts in this category is probably, if executed correctly, nearly vertical.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Trending