Inshorts

One more member in the team of Bitcoin Unlimited skeptics. Charlie Shrem, bitcoin pioneer and entrepreneur, in his recent tweet stated, that Bitcoin Unlimited is “nowhere near production ready”. Notably, he urged the community to activate Segregated Witness and then revisit larger blocks.

Antonio Juliano announced the launch of Weipoint, a search engine for the decentralized web. Weipoint can be used to search for and interact with Ethereum smart contracts. According to Juliano, Weipoint will eventually act as a decentralized application browser as well, with planned functionality for other ethereum-based resources. The project is set to act as a mean to verify the code underlying smart contracts.

JPMorgan Chase & Co leaves blockchain consortium R3. JP Morgan has officially exited the global bank consortium led by distributed ledger startup R3. The exit is notable as JP Morgan was among the initial group of banks to join the consortium, launched as a collaborative effort between institutions through which they tested a number of applications.

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Activation of SegWit on Litecoin is locked in. As the number of signalling blocks reaches the amount required for SegWit’s activation, Litecoin’s creator Charlie Lee tweeted that “Segregated Witness is locked in”. According to the SegWit’s development team, the next step will be the activation of the protocol.

Rhett Creighton, a Blockchain engineer and hacker, believes SegWit cannot activate. He is sure that the protocol will not be able to get 95 percent signalling of the network. Creighton added that Bitcoin Unlimited was not set up to block any progress happening with bitcoin. "Many people who work on BU believe they are trying to fix scaling Bitcoin", he says. The engineer supposes that there will be a split of bitcoin rather than the activation of Bitcoin Unlimited.

Blockchain technology becomes the organizational basis for a political party. Party of Growth announced the launch of a blockchain-based system “People of Growth”, and their own cryptocurrency “Upcoin”. Upcoins will be used in the party loyalty program. They can be earned by participating in various events, received as a sign of support from associates, and used to pay for the services of companies that are already accepting such a cryptocurrency. The “People of Growth” system and their cryptocurrency are developed on the Waves Platform, a Blockchain platform for development and trading of digital assets.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. 

Fintech and financial services are coming together. According to a report made by PricewaterhouseCoopers, the majority of financial services intend to team up with fintech companies. Report found that 88 percent of global banks are concerned that they will lose revenue to fintech businesses. Survey also reviews global expectations toward the adoption of blockchain technology. Data shows that 55 percent of respondents are planning to adopt the blockchain as part of a production system or process by 2018 and 77 percent by 2020, by which time it will become a common feature in the business processes.

The world’s largest non-profit meal program for school children is looking at blockchain to put an end to child hunger. The foundation has collaborated with consulting firm Accenture to strengthen its ‘Million Meals’ project with disruptive technologies including blockchain, Internet of Things and artificial intelligence. The three technologies were specifically chosen for their potential to address ‘significant challenges’ in mass meal production and delivery of these meals to over a million children every day.

Russian bitcoin regulations will make it easier for exchanges to sell cryptocurrency. Alexei Moiseev, deputy minister for Russia’s ministry of finance, told Rossiyskaya Gazeta there is likelihood that bitcoin sales will take place under a general brokerage license. Moiseev noted that the international practices were moving towards cryptocurrency regulation, which justifies ensuring protection against money laundering and consumer protection. He also ensured that government doesn't plan to ban bitcoin.

Disclaimer. This video is brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company.