Inshorts

International Monetary Fund (IMF) took attention on cryptocurrency. Christine Lagarde, managing director at IMF, does not exclude the development of IMF’s own crypto currency in the future. The currency created by the IMF for use as an international reserve asset will be based on a technology similar to other cryptocurrencies. "We will learn is how this currency can really use this technology to be more efficient and less expensive," quoted Lagarde.

Growing numbers of start-up members, in UAE. The Global Market of Abu Dhabi (ADGM) has been joined by the second party of fintech startups. Including the startups that has taken part at ADGM’s Regulatory Laboratory (RegLab), UK based EquiChain and OKLink; UAE based Pyppl; and Canada based Remitr. The cooperation aims to develop and test their products within a controlled "sandbox" environment. Richard Teng, CEO of Financial Services Regulatory Authority of Abu Dhabi, said, that they are seeing good results already from the first groups, and expect not less than the second groups.

Installation for cryptocurrency mining from smartphones. A team of engineers from C-Lab, a subdivision of the South Korean giant Samsung, presented a setup for the cryptocurrency mining, consisting of 40 old Galaxy S5. The installation was created as part of the program for processing old smartphones "Upcycling". Combining smartphones engineers have created for them an operating system optimized for mining. The developers noted that 8 such smartphones can work with much greater energy efficiency than a PC with average performance. The project was presented at a developer conference in San Francisco.

New platform for development in inter-banking area. Accenture, global management consulting and professional services firm, is appointed by the Monetary Authority of Singapore (MAS) to provide interbank payment. MAS has already developed platforms recently, regarding adopting blockchain technology, R3’s Corda and JP Morgan’s Quorum. David Treat, director of Accenture, said ‘’The value of the technical innovations arising from the program is matched by the value of the strategic thinking going into how the interbank payments ecosystem will transform and build new value.’’

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The Chinese company Bitmain Technologies has announced the creation of the first products to accelerate applications of artificial intelligence. Bitmain Technologies is based in Beijing, and known as one of the leading manufacturers of hardware for cryptocurrency. The initiative in the field of artificial intelligence is implemented in the engineering and technology center Bitmaintech Israel. "We are very proud to be part of the effort to develop software for an artificial intelligence product called Sophon," said Gadi Glikberg, head of Bitmaintech Israel. According to him, the use of new products can be different - from speech recognition and images, to the improvement of surveillance systems and robotics.

Messaging in the messenger on the blockchain technology. A document was published on the website of the U.S. Patent and Trademark Office, according to which the developers of the private instant messenger Wickr received a patent for the use of blockchain technology for messaging. Distributed registry technology will allow users to return to a specific point in the conversation if the conversation is interrupted. In addition, users will be able to create chat rooms with their own set of rules. "The secure room information and transaction information may be stored in a blockchain format, such that each participant of the secure chat room documents all commands and communications," - noted the developers of Wickr.

New protection against intruders. The U.K.'s largest telecommunication provider British Telecommunications PLC (BT), received a patent for the security method, based on blockchain. The company plans to introduce a new method of protection which will limit the possibility of intruders to influence the blockchain. Implementation of transactions will be allowed only for authorized users. In a case of possible attack, the system automatically blocks the transactions. The company claims that their method will also cope with DDoS-attacks.

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