Amex, Accenture, Byju’s and others hiring for blockchain developers. Here are the latest job openings

  • According to ‘LinkedIn Emerging Jobs 2020’ report, blockchain developer is the most sought after job role in India — followed by artificial intelligence specialist, and javaScript developer.

  • Smart Contract, Node.js, Hyperledger and Solidity are the top skills to build a career as a blockchain developer.

  • Blockchain developers assist in building services and technology related to blockchain system — which is a list of records linked via cryptography.

  • Here a few opportunities for blockchain developers.

As cryptocurrencies gain ground, related jobs like blockchain developer too are gaining in popularity.

It is the most sought-after job according to ‘LinkedIn Emerging Jobs 2020’ report, followed by artificial intelligence specialist, and javaScript developer.

“India is among the top three countries to lead the world in AI skills with robotic process automation, compliance, and integration as the fastest growing skills,” the report said.

Blockchain developers assist in building services and technology related to blockchain system — which is a list of records linked via cryptography. Smart Contract, Node.js, Hyperledger and Solidity are the top skills to build a career as a blockchain developer.

Every week, Business Insider collates interesting vacancies across marquee organisations. This week we bring job openings for blockchain developers.

Here a few of those opportunities:


Position: Blockchain Architect

Location: Bangalore, Pune

Experience: Minimum 10 years

Eligibility: Not Specified

Homegrown technology major Wipro is hiring a blockchain architect. The candidate will be required to design and develop solutions, construct networks and facilitate problem solving for blockchain engineering.

To apply for the job, the candidate must have an understanding of Bitcoin and other cryptocurrencies. He should also be aware of the technologies like cryptography, hash functions and encryption and signatures.

He should have previous experience in blockchain platforms like IBM Hyperledger, Ethereum, Stellar, Ripple and Corda along with the knowledge of programming languages — Java, Scala, Haskell, Erlang, Python and C#.

Interested candidates can apply here.

American Express

Position: Blockchain Engineer

Location: Bangalore

Experience: Minimum 6 years

Eligibility: Bachelor’s degree in Computer Science or other technical domains

American Express is looking to hire a blockchain engineer. The candidate will be responsible for innovating platform architecture and services – via blockchain technology along with performance testing.

The candidate should also be able to create application design and perform automated testing. He will also provide technical assistance to development teams to build new products.

The candidate should be skilled in programming languages like Java, JavaScript and Python. He should have working knowledge of cryptography, API security and consensus algorithms.

Interested candidates can apply here.


Position: Blockchain Technologies

Location: Bangalore

Experience: 15 years

Eligibility: Experience in blockchain technologies

Technology giant Accenture is inviting applications for blockchain technologies.The applicant will be responsible for end to end Blockchain RFP response process. He will act as a domain expert for blockchain engineering.

He will also work on blockchain components of delivery by understanding client requirements.

Interested candidates can apply here.

Wolters Kluwer

Position: Blockchain Developer

Location: Pune

Experience: 4-6 years

Eligibility: Bachelor’s degree in technical domain

Wolters Kluwer is looking for a blockchain developer in Pune. The role includes research and design of smart contracts, oracle and Dapps via blockchain technologies.

The selected candidate will have to provide workbench delivery for data scientists and artificial intelligence development initiatives.

He should have experience in cryptocurrency and strong knowledge of technologies like ethereum and hyperledger. He should have working knowledge of programming languages like C#, Java, JavaScript along with data structures and algorithms.

Interested candidates can apply here.

Byju’s (Think & Learn)

Position: Backend Engineer

Location: Bangalore

Experience: Not specified

Eligibility: Coding and software testing skills

Edtech platform Byju’s is hiring candidates for its software development team. The candidate will be responsible for building high quality code and testing as per the SDLC (Software Development Life Cycle).

He will be responsible for building Byju’s core learning platform including backend, big data technologies and machine learning. The candidate should have strong problem solving skills.

Interested candidates can apply here.

See also:

DevOps jobs: Learn these skills to become a Site Reliability Engineer and earn as much as ₹30 lacs per annum


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The Ethereum Community Is No Longer Fighting With Itself

In January 2018, I wrote a tweetstorm that became the “Call for an End To Tribalism in Ethereum” keynote at the Ethereum Community Conference in Paris in March 2018. Kent Barton continued that theme with “Divided We Fail: The Irrational Insanity of Crypto Tribalism” in April 2018.

That Paris conference also saw the launch of the Ethereum Magicians led by my former colleagues Jamie Pitts and Greg Colvin. That group of individuals sought to mature the governance around the ethereum protocol improvement process.

In October 2018, EEA and Hyperledger announced that they were becoming associate members of each others organizations, and would be collaborating on common projects. In April 2019 the Token Taxonomy Initiative was launched, with Microsoft and IBM working together. In June 2019, Microsoft finally joined Hyperledger. Now we just need IBM to join the EEA (hint, hint)!

Tensions between the Ethereum Foundation and the EEA thawed in 2019, with Aya Miyaguchi, the Executive Director of the EF joining the Board of the EEA in August 2019, and the Mainnet Initiative being announced as a collaboration between the EF and the EEA.

In August 2019, ConsenSys announced that it would be joining Hyperledger as a premier member, with founder Joe Lubin joining the governing board. They announced that they would be contributing their Enterprise Ethereum client Pantheon (now renamed as Besu).

Three years after the failure of cpp-ethereum relicensing, we finally had a fully-fledged ETH mainnet client as part of Hyperledger. Besu was written in a mainstream enterprise language – Java, had permissive Apache 2.0 licensing and had mature governance under the Linux Foundation. It was built by a large team of world class software engineers, building to the specifications which the EEA had matured since 2017.

ETC Cooperative funded ETC support and that work was completed by ChainSafe in December 2019. There has been a period of growing collaboration between the ETC ecosystem and the ETH ecosystem in late 2018 and throughout 2019, after several years or hurt feelings and bitterness after “a bad divorce.” Virgil Griffith was key to that detente and has been an excellent friend to ETC.

As my friend John Wolpert said so well in his seminal “Bring on the Stateful Internet” blog post in August 2018:

“I wish we could take all the good work out there the patterns each team in the blockchain space has explored for the past several years and lop off all the brands, the flags, the preciousness we all get when looking at our own babies. We would see it all as a bag full of Legos, a set of potential standards converging on what we really need in order to build awesome new applications that transcend the limitations and troubling central control issues of client/server.”

The artificial boundary we have put in place in our minds between “public chains” and “private chains” is fading rapidly. All our different technologies, whether we call them blockchains, or DLTs, or distributed databases, should be interoperable.

One chain to rule them all is maximalist nonsense. Our future evidently has multiple chains. L1s and L2s. State channels, rollups, Plasma, Lightning, counterfactual instantiation, L2 privacy solutions, off chain compute, every type of consensus under the sun. Integration with legacy systems is critically important too. Blockchain is not a silver bullet.

At the close of 2019, we are in a completely different place than we were during the high drama of 2016. Former rivals (both within ethereum and across the broader enterprise blockchain ecosystem) are pulling together in a way that is a delightful contrast to the fractured landscape of the near past. Collaboration is proving the winning strategy over cut-throat competition. This trend will only accelerate into 2020.

Maturity of governance is also finally being seen as the critical foundation for collaboration which it truly is. The whole ecosystem is finally growing up.

In 2016 I wrote:

“We have the opportunity to build a set of technologies in the next few years which could have similar societal impacts as the Internet, the World Wide Web and open source languages, relational databases, etc. We are building a decentralized computing platform which every individual on Earth should benefit from.”

“These technologies need to reach into every nook and cranny of our computing fabric: big and small, public and private, independent and corporate; smartwatches to mainframes.”

“This is a large and ambitious undertaking that is addictive and all-consuming for many of us. Diversity of viewpoints, a broad spectrum of use-cases to mature the base technology, and an open and inclusive attitude and environment of collaboration will help us achieve our shared goals.”

In 2020, that dream is closer to becoming a reality. It is a sheer delight to have had such a front-row seat to this revolution. Bring it on!

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Global Blockchain Technology in Construction and Mining Equipment Market Growth Evaluation …

Blockchain Technology in Construction and Mining EquipmentMarket Size, Status and Forecast 2019-2025

The new research report on “Global Blockchain Technology in Construction and Mining Equipment Market Forecast 2019-2025” offered by Market Research Place gives accurate data of significant drivers, limitations, challenges of current market trends, and forecast 2019-2025. The report study on Blockchain Technology in Construction and Mining Equipment answers several questions like future market opportunities, global and regional distribution, for stakeholders.

The market report aims to make detail analysis and in-depth research on the development environment, market size, share, and development trend. It’s a well-drafted report for those who are eager to know the existing market status at the global level. All contents featured in this report were gathered and validated via extensive research methods such as primary research, secondary research, and SWOT analysis. Here, the base year is considered as 2018 for the research while, the historical data is also taken for projecting the market outlook for the period between 2019 and 2025.

Some of the key players’ Analysis in Blockchain Technology in Construction and Mining Equipment Market: Bitcoin, Ethereum, Hyperledger (a Linux Foundation Collaborative Project), RSK Labs, Consensus Systems (ConsenSys), Project Provenance Ltd/Provenance, and Productive Edge LLC



One of the crucial parts of this report comprises Blockchain Technology in Construction and Mining Equipment industry key vendor’s discussion about the brand’s summary, profiles, market revenue, and financial analysis. The report will help market players build future business strategies and discover worldwide competition. A detailed segmentation analysis of the market is done on producers, regions, type and applications in the report.

On the basis of geographically, the market report covers data points for multiple geographies such as United States, Europe, China, Japan, Southeast Asia, India, and Central & South America

Analysis of the market:

Other important factors studied in this report include demand and supply dynamics, industry processes, import & export scenario, R&D development activities, and cost structures. Besides, consumption demand and supply figures, cost of production, gross profit margins, and selling price of products are also estimated in this report.

Predominant Questions Answered in This Report Are:

  • Which segments will perform well in the Blockchain Technology in Construction and Mining Equipment market over the forecasted years?
  • In which markets companies should authorize their presence?
  • What are the forecasted growth rates for the market?
  • What are the long-lasting defects of the industry?
  • How share market changes their values by different manufacturing brands?
  • What are the qualities and shortcomings of the key players?
  • What are the major end result and effects of the five strengths study of industry?

The conclusion part of their report focuses on the existing competitive analysis of the market. We have added some useful insights for both industries and clients. All leading manufacturers included in this report take care of expanding operations in regions. Here, we express our acknowledgment for the support and assistance from the Blockchain Technology in Construction and Mining Equipment industry experts and publicizing engineers as well as the examination group’s survey and conventions. Market rate, volume, income, demand and supply data are also examined.

Table of Contents

2019-2025 Global Blockchain Technology in Construction and Mining Equipment Market Report (Status and Outlook)

  • 1 Scope of the Report
  • 2 Executive Summary
  • 3 Global Blockchain Technology in Construction and Mining Equipment by Players
  • 4 Blockchain Technology in Construction and Mining Equipment by Regions
  • 5 Americas
  • 6 APAC
  • 7 Europe
  • 8 Middle East & Africa
  • 9 Market Drivers, Challenges and Trends
  • 10 Global Blockchain Technology in Construction and Mining Equipment Market Forecast
  • 11 Key Players Analysis
  • 12 Research Findings and Conclusion

Customization of the Report:

This report can be customized to meet the client’s requirements. Please connect with our sales team, who will ensure that you get a report that suits your needs.

About Us:

Market research is the new buzzword in the market, which helps in understanding the market potential of any product in the market. Reports And Markets is not just another company in this domain but is a part of a veteran group called Algoro Research Consultants Pvt. Ltd. It offers premium progressive statistical surveying, market research reports, analysis & forecast data for a wide range of sectors both for the government and private agencies all across the world.

Contact Us:

Sanjay Jain

Manager – Partner Relations & International Marketing

[email protected]

Ph: +1-352-353-0818 (US)

This post was originally published on Market Research Sheets

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State Street Slashes DLT Developer Team as Bank Rethinks Blockchain Strategy

State Street, the global custodian bank, has taken a new direction with its blockchain strategy and cut scores of developer jobs in the process, people familiar with the situation said.

The focus is now more on digital assets such as tokenized stocks and bonds through to cryptocurrencies, rather than the heavy lifting work of re-plumbing front to back office with distributed ledger technology (DLT).

Because of various cost pressures weighing on the Boston-based bank, there has been a dramatic streamlining of the global blockchain team in the past few weeks. A former State Street engineer, who wanted to remain nameless, said the cuts numbered over 100 blockchain developers.

Related:Foreign Exchange Giant CLS Admits: No, We Don’t Need a Blockchain for That

A second person familiar with the situation said “most of the blockchain team had gone,” and that the number let go was “upwards of 100.” There are now “only a few token people left” from the team, this person said, meaning “token” as in perfunctory, not in the crypto sense.

(All told, State Street has 39,407 employees worldwide, according to its latest quarterly filing with the Securities and Exchange Commission).

“They are moving away from this giant in-house DLT initiative,” the source said of State Street. “They are more focused on digital assets, stablecoins, custody, and the USC initiative [the Utility Settlement Coin being developed by bank consortium Fnality].”

Ralph Achkar, managing director of digital products at State Street in London, acknowledged that it had “streamlined some of the people in those teams,” declining to give exact numbers of those let go.

Related:Energy Commodities Trading Software Launches on Hyperledger Fabric

But that streamlining should not be taken to mean “we are not focused on distributed ledger,” he said. “That is absolutely not the case.”

Innovator’s dilemma

Previously, a large DLT team at State Street had been working with the Hyperledger Fabric open-source permissioned blockchain software.

The aim was to create a single book of record, which could run State Street’s investment book at the front end, an accounting book of record for the middleware and a custody book of record on the back end. This new DLT system would remove the need to reconcile between hundreds of databases, involving hundreds of man-hours each day.

Now, however, the bank is now describing its approach as “ledger-agnostic,” and relying more on outside providers.

“If something is Fabric-related we still have some Fabric engineers on board,” said Achkar, who runs a digital asset product development and innovation team in London, complemented by similar teams in the U.S. and Singapore. But his objective is to identify the best business cases, rather than the best protocol, he said.

“I think the choice in approaching that space was, do we need to have all of these resources internally, or can we actually build partnerships and work with other providers in the market?” he said.

Most big banks face the same issues as State Street in grappling with how best to upgrade legacy systems. When the system in question controls over $30 trillion in asset movements, digital transformation is not going to happen overnight.

“There is an innovator’s dilemma,” said Achkar, using a well-known term for the challenge to large incumbent players of adopting technologies that would disrupt their business models. “What we recognize is that some of the processes that might appear to be inefficient in the market today are there for a reason.”

Market rules and market structure have been put in place to ensure bad behaviors can be detected early on, or prevented altogether, he said. “We don’t believe that you are going to throw everything you have done away and replace it with new tech and everything is resolved. It’s hard to imagine it happening that way.”

New kid on the block

In any case, State Street’s loss has turned out to be a gain for others.

Moiz Kohari, the former global chief technology architect at State Street, who left the bank in April to co-found DLT-based data privacy startup Manetu, has been busy hiring.

According to its website, Manetu has so far hired former State Street senior vice president Greg Haskins, as chief technology officer; former SVP of enterprise data Conor Allen as head of product; and former managing director Binh Nguyen as chief scientist.

“I on-boarded some of the big names to my Manetu team on Nov. 5,” said Kohari. “There are others from the bank behind them who I’m not going to name; multiple maintainers on the Hyperledger project.”

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Blockchain Technology in Construction and Mining Equipment Market By Bitcoin,Ethereum …

The Global Blockchain Technology in Construction and Mining Equipment Market 2019 Research Report is a professional and in-depth study on the current state of the Blockchain Technology in Construction and Mining Equipment Market industry.

Global Blockchain Technology in Construction and Mining Equipment Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2025. Market Overviewing the present digitized world, 80% of the data generated is unstructured. Organizations are using Blockchain Technology in Construction and Mining Equipment technology to unravel the meaning of such data to leverage business strategies and opportunities. A myriad of unstructured data is available online in the form of audio content, visual content and social footprints.

Get sample copy of this report:

Some of the key players operating in this market include: Bitcoin,Ethereum,Hyperledger (a Linux Foundation Collaborative Project),RSK Labs,Consensus Systems (ConsenSys),Project Provenance Ltd/Provenance,Productive Edge LLC.

The report provides a basic overview of the industry including definitions and classifications. The Blockchain Technology in Construction and Mining Equipment Market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status.

Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, cost, price, revenue and gross margins.

The manufacturers responsible for increasing the sales in the market have been presented. These manufacturers have been examined in terms of their manufacturing base, basic information, and competitors. In addition, the technology and product type introduced by each of these manufacturers also form a key part of this section of the report. The recent developments that took place in the global Blockchain Technology in Construction and Mining Equipment market and their impact on the future growth of the market have also been presented through this study.

Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.

This unique market intelligence report from the author provides information not available from any other published source. The report includes diagnostics sales and market share estimates by product as well as a profile of the company’s diagnostics business.

Analysis tools such as SWOT analysis and Porter’s five force model have been inculcated in order to present a perfect in-depth knowledge about Blockchain Technology in Construction and Mining Equipment market. Ample graphs, tables, charts are added to help have an accurate understanding of this market. The Blockchain Technology in Construction and Mining Equipment market is also been analyzed in terms of value chain analysis and regulatory analysis.

Get Complete Report:

The study objectives of this report are:

  • To analyze global Blockchain Technology in Construction and Mining Equipment status, future forecast, growth opportunity, key market and key players.
  • To present the Blockchain Technology in Construction and Mining Equipment development in United States, Europe and China.
  • To strategically profile the key players and comprehensively analyze their development plan and strategies.
  • To define, describe and forecast the market by product type, market and key regions.

Table of Content:

  • Blockchain Technology in Construction and Mining Equipment Market Research Report 2019-2025
  • Chapter 1: Industry Overview
  • Chapter 2: Blockchain Technology in Construction and Mining Equipment Market International and Market Analysis
  • Chapter 3: Environment Analysis of Blockchain Technology in Construction and Mining Equipment
  • Chapter 4: Analysis of Revenue by Classifications
  • Chapter 5: Analysis of Revenue by Regions and Applications
  • Chapter 6: Analysis of Blockchain Technology in Construction and Mining Equipment Market Revenue Market Status
  • Chapter 7: Analysis of Blockchain Technology in Construction and Mining Equipment Industry Key Manufacturers
  • Chapter 8: Sales Price and Gross Margin Analysis
  • Chapter 9: Marketing Trader or Distributor Analysis of Blockchain Technology in Construction and Mining Equipment

About Us

Market research is the new buzzword in the market, which helps in understanding the market potential of any product in the market. Reports And Markets is not just another company in this domain but is a part of a veteran group called Algoro Research Consultants Pvt. Ltd. It offers premium progressive statistical surveying, market research reports, analysis & forecast data for a wide range of sectors both for the government and private agencies all across the world.

Contact Us:

Sanjay Jain

Manager – Partner Relations & International Marketing

[email protected]

Ph: +1-352-353-0818 (US)

Tags: Bitcoin, Blockchain Technology in Construction and Mining Equipment, Blockchain Technology in Construction and Mining Equipment forecast, Blockchain Technology in Construction and Mining Equipment industry, Blockchain Technology in Construction and Mining Equipment industry price, Blockchain Technology in Construction and Mining Equipment market, Blockchain Technology in Construction and Mining Equipment market industry, Blockchain Technology in Construction and Mining Equipment Market price, Blockchain Technology in Construction and Mining Equipment market report, Blockchain Technology in Construction and Mining Equipment Market research, Blockchain Technology in Construction and Mining Equipment Market share, Blockchain Technology in Construction and Mining Equipment Market Strategies, Blockchain Technology in Construction and Mining Equipment Market Top Company, Consensus Systems (ConsenSys), Ethereum, Hyperledger (a Linux Foundation Collaborative Project), RSK Labs


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Bitcoin banks, Revolution | Upbit Hack | danger by BTC Whale plus token

Bitcoin banks, Revolution | Upbit Hack | danger by BTC Whale plus token | IOTA Hyper Ledger

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Public vs. Private Blockchains: Bitcoin, Ethereum, Hyperledger

HodlX Guest BlogSubmit Your Post

What difference does it make?

You might be familiar with Bitcoin, Litecoin, or all the other cryptocurrencies. What about blockchain? Apart from knowing that it is the basis of all crypto, what other real-world use cases does blockchain technology bring? Or simply, what are the differences between a public and a private blockchain? Which is better?

Public vs private: Same but different?

In a nutshell, public and private blockchains are two very different things.

Most of us understand the rationale behind blockchain – a distributed, decentralized public ledger that stores lists of records in blocks that are interconnected to each other through cryptography, thus ensuring the confidentially of the transactions. They are time-stamped, immutable and not managed by any central authorities or computers.

This is called public blockchain.

For example, Bitcoin, Ethereum, and the soon-launching OKChain are public blockchains. It allows anyone to join the network, read, write, or participate within the blockchain, but no one has the authority to control the whole network. Data on a public blockchain are secure as it has been validated and impossible to modify on-chain.

Private blockchains, on the other hand, are controlled by one or more entities and restrict participants’ access to the network, only people involved in the transaction know the whole picture, such as the Hyperledger network.

The major difference between public and private blockchains is the level of access granted to participants. Public blockchains are permissionless and decentralized. Anyone can verify and add transaction data on-chain. It is completely open, with open-source computing codes that can be inspected, verified and downloaded by those who wish to become a full node or a miner. Private blockchains are more centralized in nature as they only allow certain people to participate in a closed network. In a private blockchain, every validator knows each other and is appointed to be a part of the network, and they have the ability to alter or modify transactions according to their needs. Thus, a private blockchain is more prone to a 51% attack as it is relatively easier for bad nodes to gain control over the network.

Another fundamental difference between public and private blockchain is scalability. Scalability has been one of the major concerns for crypto, especially for the “older” coins such as Bitcoin, which can only process 7 transactions per second (tps). Hyperledger is now capable of handling up to 20,000 tps, keeping its network fast and efficient for users. Public blockchains are generally slower as the number of authorized participants in greater. Hence these blockchains process transactions at a delayed pace, while transactions on private blockchains do not need to go through hundreds or thousands of nodes to verify the data. Therefore, these transactions can be supported and processed at a much faster rate.

Are public blockchains more secure?

Public blockchains were created to eliminate intermediaries and remove trust on the network by incentivizing participants. It is true that the greater the decentralization, the more secure a blockchain is. Perhaps the transparency of a public blockchain is what attracts a wider array of use cases than private blockchains. With more nodes in the network, it definitely makes it harder for hackers to attack the ecosystem or gain control through a 51% attack, but it is also extremely slow. Public blockchains like Bitcoin are no match for centralized payment processors that are on the market, such as Visa which is capable of handling 24,000 tps. It takes forever to reach a consensus on the state of a transaction on the Bitcoin blockchain, not to mention its scalability issue.

To process more transactions per second, limiting access to data or certain functions is indeed what private blockchains are trying to achieve. They can process transactions at a much higher rate compared to public blockchains, but is it worth sacrificing security over transaction speed? Private blockchains are generally much more vulnerable to hacks and data manipulation too.

It’s all about trust

Public blockchains like Bitcoin and Ethereum are designed to protect anonymity. That’s why cryptocurrencies are based on public blockchains. Yet in the corporate world, we see businesses adopt private blockchains at scale as they don’t want full transparency or the sharing all their business data to competitors. Private blockchains ensure they have control over who is able to write or read details of the information on the chain.

Concluding the debate on which blockchain is superior, the public blockchain seems to stand out as a better option for its ability to be applied in a majority of use cases with no restricted access. Yet the concern of privacy will likely continue to be an issue for both blockchains, along with developing seamless cross-chain technology to interact and exchange values.

The premise of decentralization might be to offer transparency, security, and cost-efficiency (the main goal of creating blockchain), but in the end, it really all depends on the objectives and goals of those adopting the technology.

This post originally appeared on OKEx Blog. Read more.

Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

About OKEx

OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital assets trading services including token trading, futures trading, perpetual swap trading and index tracker to global traders with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.

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Here Comes the Trump Digital Dollar

Gold coin with President Trump image.

The Wall Street Journal ran an opinion piece this week that was huge. We’re about to make it yuge.

Entitled We Sent a Man to the Moon. We Can Send the Dollar to Cyberspace, the piece was written by two leaders of the U.S. Commodity Futures Trading Commission, Christopher Giancarlo and Daniel Gorfine, where they make the case for a blockchain-based “digital dollar.”

In the 1950s, the United States was growing complacent about its technology capabilities, until the Soviet Union launched the first successful satellite, Sputnik 1. The Soviets followed this achievement with the first man in space (Yuri Gagarin, 1961), the first woman in space (Valentina Tereshkova, 1963), and numerous space “firsts.”

It was a wake-up call. The U.S. realized it was falling behind, and thus began the great “Space Race,” which culminated in the first successful moon landing with Apollo 11 onJuly 20, 1969. (If we’re going to have conflict between nations, by the way, let it be over who can make the fastest progress toward some greater goal.)

In their opinion piece, Giancarlo and Gorfine argue that the United States is once again in danger of being left behind, as other countries (such as China) and companies (such as Facebook) take the lead in developing their own digital currencies. This threatens the U.S. dollar, and that is hugely (yugely) significant.

For a host of reasons, the United States enjoys all kinds of advantages when the dollar is the “international currency of choice.” It means that everyone wants your money. It allows you to maintain stable prices for food and energy. It allows you to influence the global financial system.

They are right: if the government doesn’t create its own blockchain-based digital currency, then private businesses will (in fact, they already have). In other words, a Digital Dollar is inevitable, and we are entering a new kind of “Space Race” around money. (We’ll call it the “Cash Clash.”)

While their op-ed was a little light on details (hey, it’s the Wall Street Journal, not Bitcoin Market Journal), let’s flesh out the details of how a U.S.-backed, blockchain-based Digital Dollar might actually work.

How to Build a Digital Dollar

Computer keyboard.

The authors propose a “government-sanctioned blockchain protocol.” To be clear, this will likely be a blockchain application built on top of an existing blockchain platform. For the platform choice, the government will realistically have three options: Hyperledger, Ethereum, or build-your-own.

They’ll likely choose Hyperledger, because it is backed by a consortium of American technology leaders, including industry heavyweights like IBM, Intel, and Cisco, which have a long history of government consulting. (Ethereum is still not ready for prime time, and build-your-own will end-in-tears.)

The authors also propose an independent nongovernmental group that’s administered by trusted banks and payment providers. In plain English, they likely mean the project is “decentralized” by creating a consortium (like Hyperledger), with buy-in from “centralized” financial companies like J.P. Morgan, State Street, and SWIFT (who are also part of Hyperledger).

To be clear, Hyperledger is a blockchain platform, and what the authors are proposing is a blockchain application. Think of it like a cryptocurrency built on top of Ethereum, except it’s a government-sanctioned currency built on top of Hyperledger.

To build trust in the Digital Dollar, the authors continue, it will need to be backed by real U.S. dollars: the full faith and trust of the federal government. Physical dollars can be “cashed in” for digital dollars, at no charge (that’s important), and held in a digital wallet on your smartphone.

Let’s paint a picture of what this would look like. You’d go to your bank or ATM to withdraw $100, but now that money goes into a digital wallet on your smartphone. You go to the local hipster hangout and buy a pumpkin spice oxygen shot, then pay for it with the Digital Dollars in your wallet.

It’s essentially what happens now when you pay for things with a credit card or Venmo, with one huge difference: those are private companies. They all get a cut of each transaction. By making the Digital Dollar frictionless — by not charging a fee, like paying with cash — the government will own the currency and the rails.

By being first to innovate in this space, the U.S. will continue to ensure that the dollar remains the international currency of choice. If the U.S. lags behind, some other country (or company) will take this spot. This is common sense.

This is why the government is hating on Facebook’s Libra project. They understand that projects like Libra threaten the primacy of the U.S. dollar, but they don’t know what to do about it. The answer is simple: develop the Digital Dollar.

How to Make this Happen

US paper bills.

These groundbreaking authors outlined the vision, but now I’m going to go one step further: I’m going to reveal how to make this happen immediately.

The biggest problem comes from the top: how do you sell the Digital Dollar into Trump, who has so far been skeptical of cryptocurrencies, and who quite frankly has other things to worry about right now?

Very simple: you put his name on it.

That’s right. The Trump Digital Dollar would be a currency minted for a sitting U.S. President, just like George Washington, or a Roman Emperor. Think about what this would mean for the Trump brand: to have his name on United States money? That bill will get passed tomorrow.

Just like they called it “Obamacare,” they’ll start calling them “Trumpbucks” or “Trumpbacks.” Possibly “The Donald Dollar.” He’ll tweet about this nonstop. Overnight, the entire cryptocurrency market will explode. So will the heads of blockchain purists, who will not accept that this is really happening.

“A centralized decentralized cryptocurrency?” they will exclaim, clutching their glasses in dismay. Meanwhile, every other country will rush to create their own digital currencies, igniting the industry and creating thousands, maybe millions, of new blockchain jobs.

Many won’t like this idea — and I’m reluctant to even share it, as putting it out there is likely to make it come true. But what’s worse, waiting for our government to stop nervously nibbling its nails, shivering on the sidelines, afraid to make a move on digital money? Or the Trump Digital Dollar?

The Trump Digital Dollar will be like jet fuel on a bonfire. Let’s be honest: that’s what the President does best. And one thing is for sure: if you thought the Space Race was heated, wait until you see the Cash Clash.

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Telefónica joins Hyperledger to develop new services with blockchains

Telecommunications corporation Spanish Telefónica joined Hyperledger, of the Linux Foundation, to develop new services targeted to their customers and business models with blockchains. So informed both parties this Thursday 21 November.The alliance formalizes the relationship that began this year and that has in TrustOS the first product to blockchain of Telephone-based Hyperledger Fabric, one of the solutions of Hyperledger to implement this original technology of Bitcoin as the digital system.On this association, José Luis Núñez, responsible for the Competence Center of Blockchain of Telefónica, says that the key word is confidence that blockchains can offer to the industrial sector. At its discretion the implementation of proposals with blockchains, in the field of business, will only be successful if it is done in an open and collaborative manner.”It is a firm commitment to build ecosystems and networks that provide confidence to the operations of the companies (…) to join Hyperledger reinforce the strategy of Telefónica to create business in networks blockchain by adding a layer of trust to the operations of our customers. Open innovation and collaboration between industries is the only way of dealing with blockchain”, shared the executive on Twitter.

Development and innovation

The that Telephone set an agreement with Hyperledger confirms the trend, among large international companies, wanting to adopt networks, blockchains to integrate them into their production processes, but with actors that are already recognized in the ecosystem and do so in a collaborative way.In addition to Telefónica, Hyperledger also announced that it welcomed its community to BlocWatch, BondEvalue, Ledger, Leopard, LimeChain, Tech Mahindra and Vonechain Technology. Other companies who are already working in Hyperledger are IBM, Cisco, American Express, Consensys, Intel, NEC, SAP, Hitachi, and J. P Morgan, among others.It is important to remember that the Phone also features Wayra, a network of acceleration of projects being developed by the program Blockchain Activation. The intention in this case is to foster the creation of solutions with blockchains so that more companies local or international the incorporate, and thus to improve its productive processes, in case you need an application based on this technology. It is here where works TrustOS.In recent statements offered to Breaking News Núñez noted that the company relies on the blockchains due to the fact that “no one has to validate, certify, or audit what is happening on the network, because the network itself will through that new layer of blockchain”.Hyperledger Fabric is not the only enterprise solution of Hyperledger for the use of blockchains, but the most well known. They are also Hyperledger Besu, Burrow, Indy, Iroha and Sawtooth, each with their specific characteristics for use, for example, contracts intelligent, network, test, algorithms, consensus, or interoperability with other strings.Also known as the technology blockchain technology or accounting distributed (DLT) it is a mechanism that allows you to make secure and reliable transactions peer-to-peer, over the internet, without the intervention of a central authority or intermediaries.It is an articulation of various technologies in that it has action mining, digital nodes, digital wallets and ledger in which are grouped the transactions in the form of a block which are linked linearly to each other. In the case of Bitcoin is used in the area of finance with cryptocurrencies, while that in the business cases what is sought is to improve processes, services or products, without the need for the use of cryptocurrencies.


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Blockchain in Retail Market 2019 – 2024: Business Top Leaders, Industry Trends, Size, Global …

Blockchain in Retail Market 2019 – 2024: Business Top Leaders, Industry Trends, Size, Global Segments and Profit Growth by Regional Forecast

“”Blockchain in Retail Market””
Global Blockchain in Retail Market is estimated to reach USD 1.76 billion by 2024 growing at a 78.49% CAGR during the forecast period 2018–2024 and Blockchain in Retail Market Research Report: By Type (Public, Private, Consortium), by Platform (Bitcoin, Ripple, Ethereum, R3 Corda, Hyperledger Fabric, Multichain, Quorum and others).

Blockchain in Retail Market Synopsis:

As per the report published by Market Research Future (MRFR), the global blockchain in retail market is expected to demonstrate a staller CAGR of 78.49% between 2019 and 2024. The market is expected to reach a valuation of USD 1.76 Bn by the end of the forecast period. The rapid adoption of blockchain in the retail sector to simplify various business processes including database management, incorporate supply-chain visibility, ensure product authenticity and safety, payment and order management and inventory management.

Blockchain is viewed as a revolutionary technology, which is enabling streamlining of procedures and making transaction activities transparent and simpler. The technology facilitates faster and uninterrupted transactions and develops a peer-to-peer network system. Moreover, it also simplifies the ledger for recording the transaction and ensures a transparent consensus mechanism for transaction validation.

Blockchain in Retail Market holds tremendous potential and is touted as a technology that is going to reinvent business functions. Enterprises are inclining towards blockchain to secure their transaction systems. Using blockchain, businesses can streamline supply chain activities, auditing, accounting processes, compliance and inventory management. It also enables, enterprises remove redundant database systems. Retail companies the increasingly relying on retail companies to raise authenticity standards, and product safety and product quality. Most importantly blockchain allows retail companies to improve bottom-line.

Retail brands are implementing blockchain solutions to develop smart contracts and automate payment modules and thereby improve inventory management systems. The need for effective operational structure and precise assessment required inventory size is influence the adoption of blockchain in retail. The technology not only improves operational efficiency but also greatly enhances payment convenience for customers. The global blockchain in retail market is also benefiting from growth of e-commerce and robust internet penetration.

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Blockchain in Retail Market Competition Analysis:

IBM Corporation, SAP SE, Bitfury USA Inc., Cegeka, Blockpoint Systems, Bitpay, Guardtime, Microsoft Corporation, Coin Sciences Ltd., Amazon Web Services, Cognizant, Blockverify (Venture Proxy Ltd), Oracle Corporation, Tata Consultancy Services Limited, Cisco Systems Inc., Coinbase, Auxesis Group, and BlockApps are among the leading companies covered in MRFR’s report.

Blockchain in Retail Market Segmental Analysis:

The segmental analysis of the market has been conducted based on application, organization size, platform and type.

  • On the basis of application, key segments include database management, payment management, loyalty and rewards management, compliance management, fraud management, inventory management, auditing and others.
  • On the basis of organization size, small & medium enterprises (SMEs) and large enterprises.
  • On the basis of platform, key segments include ripple, R3, hyperledger fabric, quorum, bitcoin, ethereum, multichain, corda and others.
  • On the basis of type, key segments include consortium, private and public.

Blockchain in Retail Market Regional Analysis:

North America currently dominates the global blockchain in retail market in terms of revenue. The region is expected to remain highly profitable during the forecast period. Countries such as the US, Mexico and Canada continue to undergone tremendous digitization, which is creating application opportunities. Moreover, presence of massive retail enterprises is supporting the market growth in the region. Europe is the second largest market for blockchain in retail.

In terms of revenue, countries such as France, the UK, Germany are expected to makes considerable contribution to the Europe Blockchain in retail market during the forecast period. Asia Pacific is third in the pecking order and is likely to emerge as a high growth market for blockchain in retail in future. Fast adoption of blockchain technology in the retail sector is primarily driving the market in APAC. The market in regions such as the Middles East and South America is also expected to witness a healthy growth but from a smaller base.

Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure


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List of Tables

Table1 Global Blockchain In Retail Market: By Country, 2019–2024

Table2 North America: Blockchain In Retail Market, By Country, 2019–2024

Table3 Europe Blockchain In Retail Market: By Country, 2019–2024


List of Figures

Figure 1 Global Blockchain In Retail Market Segmentation

Figure 2 Forecast Methodology

Figure 3 Porter’s Five Forces Analysis of Global Blockchain In Retail Market


About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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