Category Archives: samsung

Auto Added by WPeMatico

Samsung Claims Smartphones Provide Best Security for Crypto

Multinational tech conglomerate Samsung has argued that smartphones can provide the best security for cryptocurrency holdings because of the combined efficiency of apps and the presence of the trusted execution environment (TEE).

Cryptocurrency wallet apps like Blockchain and Jaxx are a convenient and popular way to transfer, send and store assets on a smartphone. What Joel Snyder, a senior IT consultant and a contributor to Samsung Insights pointed out, is that the TEE under which the majority of smartphones operate offers a nearly impenetrable barrier for hackers.

Because the TEE is completely independent of an individual’s device with its own separate memory and storage, potential hackers and even operating systems such as Android cannot penetrate and alter or access the data. This prevents passwords and private keys of wallets from being accessed.

Laptops and such devices that utilize conventional data storage units such as an SSD are more vulnerable to risk due to their persistent nature that gives an opportunity for hackers to enter and steal data, cryptocurrency account information included.

Snyder for Samsung noted that while ”a naive wallet developer” might fail to employ the advantages of the TEE and store keys on the phone’s internal storage, the combination of the TEE and an effective wallet offer the most secure place for your cryptocurrency holdings.

What else the TEE can offer

A research effort conducted by Cornell University in December 2016 first offered the concept of Bitcoin scaling via the TEE. The team developed a technology called Teechan which they built on top several TEEs including the Software Guard Extensions of Intel.

The results were promising. Transactions were able to be processed off-chain, then fixed into larger transactions to be established on the blockchain. Significant progress has been seen, with over 2,480 transactions per second recorded as successfully processed.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post Samsung Claims Smartphones Provide Best Security for Crypto appeared first on BitcoinNews.com.

Blockchain Jobs are Number One In US – Upworks Skills Index

The number one position on Upworks US skills index is now blockchain expertise, making these the most sought-after positions for with current employers, writes Forbes.

The Upworks index is a strong indicator of the rising need within the US professional’s employment market for employees with blockchain experience and also is a gauge which indicates that blockchain has arrived and it is clearly not going away any time soon. According to Burning Glass Technologies, there were more than 5,743 jobs posted needing blockchain skills in the last 12 months.

As Bitcoin News has reported, multinationals such as IBM and Samsung have shown the world the value of the new technologies by embracing blockchain wholeheartedly. Companies such as Walmart are updating their supply chains and state governments in the US are increasingly turning to the technology to streamline government departments and state law.

What kind of blockchain related positions become available very much depends on demand. Blockchain developers, or engineers are top of the tree, being in high demand due to these positions highly technical nature. The whole process of developing a blockchain platform very much relies on the expertise that these professionals can bring to the project.

Blockchain project managers and designers are also in demand. The manager is responsible for tying technical aspects of the blockchain to the company’s actual business requirements. The job calls on standard management skills that might have been earned in other industries, using this ability to communicate to customers who may not have the tech skills nor vocabulary, but while still having the technical know-how themselves to communicate with staff.

One aspect of the tech that is becoming increasingly important, and perhaps is illustrated quite graphically by the recent Italian court case involving BitGrail, is the need for companies to employ a blockchain attorney or legal consultant in order to tackle the legal ramifications of using blockchain.

It is likely that the need for these professionals will swell over the next two years as blockchain takes on a more mainstream profile across sectors. Bernard Marr, writing in Forbes, suggests, “Blockchain has become what the “cloud” was in the mid-2000s, poised to be the most highly talked about technology and one that offers tremendous professional opportunity.”

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Blockchain Jobs are Number One In US – Upworks Skills Index appeared first on BitcoinNews.com.

New ASIC with 7nm Architecture Boasts 20+ billion transistors

The Japanese company GMO Internet Group announced on Wednesday the launch of their bitcoin application specific integrated circuit (ASIC) miner built on a 7nm architecture. They are aiming for the new compact chip design to launch on the 6th of June and for mass production of the B2 miner to lead to the shipping of the final product in October.

The company claims to have already mined a total of 906 bitcoin and 537 bitcoin cash as of April, with current CoinDesk prices that amount to almost USD 8 million in cryptocurrency.

New entries are welcome in the market as according to Bernstein, “Bitmain accounts for as much as 80% of bitcoin application specific integrated circuits (ASICs)”. Bitmain has generated between USD 3 billion and USD 4 billion in profits in 2017. The Beijing-based company rivals profits of one of the market leaders Nvidia, who specializes in chipset design and manufacture. Nvidia’s market cap was USD 147 billion, turning profits of USD 3 billion in 2017. With mining technology reaching similar levels to that of well-established companies it puts into perspective the rate of growth that the market is experiencing. Bitmain has achieved what Nvidia took several decades to achieve in a brief window, this is partially down to the rapid increase in the value of bitcoin. This year they announced their Ethereum ASIC which is going to add to their already expanding profits.

Bitfury Group is also generating competitive revenue with its bitcoin mining operations, and software services turning over USD 93.7 million revenue in 2017’s financial year.

7nm architecture and hardware accelerators

Samsung revealed earlier this year that it is due to start manufacturing ASIC chips in January 2018. Intel has been developing some of its own technologies, claiming their hardware accelerator could create a power reduction of as much as 35 percent.

“Because the software and hardware utilized in Bitcoin mining uses brute force to repeatedly and endlessly perform SHA-256 functions, the process of Bitcoin mining can be very power-intensive and utilize large amounts of hardware space. The embodiments described herein optimize Bitcoin mining operations by reducing the space utilized and power consumed by Bitcoin mining hardware.”

The 7nm Architecture will be the latest advancement in the bitcoin mining sector as well as the computer industry with four-fold efficiency. 7nm semiconductors contain 20+ billion transistors, whilst fitting on your fingertip they are still capable of performing complex computations. Samsung and IBM are also researching and developing these 7nm chips. With 7nm chips on the horizon, this then sets the future for 5nm semiconductors and a move closer to the end of Moore’s Law.

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Source: Flicker Dennis Skley - Digital Life

The post New ASIC with 7nm Architecture Boasts 20+ billion transistors appeared first on BitcoinNews.com.

SAP Developing Blockchain Logistics Solutions

SAP, a leader in enterprise-level software solutions, is looking to expand into the supply chain industry by applying blockchain technology to agricultural supply chains. Its farm-to-consumer program is working alongside companies such as Johnsonville, Naturipe Farms and Maple Leaf. SAP has also partnered up with the Swiss supply chain startup modum.io.

Issues and needs around the evolving global market

Currently, there is a global push towards improving the transportation of foods and goods around the world. As much as one-third of global fresh fruits and vegetables go to waste because their quality has diminished and is deemed no longer sale-worthy. Food can often be stuck in limbo in the supply chain due to documents being delayed or even lost. With a rapidly growing population and a push for a greener future, this has become simply unacceptable for the industry.

Alongside increasing profits by reducing waste, there is also a growing need for product details among consumers. Consumers are more conscious of products and are wanting to buy in confidence knowing that the item is part of fair-trade and has been ethically sourced. Almost 75% of respondents in a Nielsen global survey said that a brand’s country of origin was one of the most important factors compared with selection or choice, price, function, and quality. When it comes to food and beverages, local brands take precedence as spoilage is a primary factor, whereas for long-life products or other goods, consumers prefer global brands.

“For many categories, a global brand name is an indicator of quality, safety, and trustworthiness in emerging markets,” noted the report.

SAP among many in a movement towards blockchain logistics

SAP isn’t the first to explore blockchain logistics solutions. Mastercard is currently working on its Blockchain and Authorization Network which sets out to provide proof of provenance for goods with the ability to track items as they are created, transferred, purchased and resold, to prevent fraud. Recently, an Ethereum-based supply chain was used to track a Yellowfin tuna from the waters off Fiji to a conference where it was served as sushi. Samsung and IBM are already investing in blockchain solutions to manage shipping to streamline imports and exports.

SAP’s project lead, Torsten Zube, believes blockchain has the ability to update current food industry production models to a more streamlined, profitable iteration.

“If enterprises can access the complete version of product history,” he explained, “this could result in a shift from a central unilateral supplier-led production to a consumer demand-led supply organized by a consortium of peers.”

 

Image source: Flicker – William Murphy – Farmers’ Market Meeting House Square

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post SAP Developing Blockchain Logistics Solutions appeared first on BitcoinNews.com.

Physical Bitcoin Smart Banknotes Launched in Singapore

Singapore startup Tangem released its own version of a physical bitcoin banknote at a shopping centre in the city yesterday.

The banknotes are available in denominations of 0.01 BTC ($98) and 0.05 BTC ($485) at launch. Each note is a Samsung Semiconductor S3D350A chip which reportedly cost the Tangen $2 to manufacture. according to Cision PR Newswire, the Tangem Note is the first hardware storage solution with certification for its entire electronics and cryptography to Common Criteria EAL6+ and EMVCo security standards

Tangem co-founder Andre Pantyukhin is confident that the new notes are completely safe, maintaining that the chip, ‘addresses all known attack vectors on hardware and software levels” and the accompanying wallet is uncopiable.

The company’s headquarters are in Zug, Switzerland’s answer to Silicon Valley, home to over 200 blockchain companies and a global hub for cryptocurrency. Tangen says it has now has plans to distribute its notes globally, beginning with a first shipment of 10,000 production notes to prospective partners and distributors around the world for commercial pilots.

Pantyukhin comments that the notes have real advantages for the user and transfer of ownership is exactly like a fiat note in that as soon as the note is handed over, so is ownership, “Physically hand over the whole wallet together with the blockchain private key. No transaction fees, no need to await confirmation blockchain.” Each note will allow a user to instantly verify the validity of the assets by NFC via smartphone. He adds the company is continuing production with goal facilitating, “immediate, free and anonymous,” transactions for users.

According to Tangem’s press release the concept behind the notes was make the spending of crypto easier, “to radically improve the simplicity and security of acquiring, owning, and circulating cryptocurrencies for both sophisticated and incoming users.”

Although based in Switzerland and Singapore, Tangem manufactures in centres in South Korea and Southern China, Taiwan, Russia, and Israel.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy:  https://pixabay.com/en/bitcoin-crypto-currency-currency-3215526/ annca

 

The post Physical Bitcoin Smart Banknotes Launched in Singapore appeared first on BitcoinNews.com.

Samsung Investing in Blockchain Shipping Technologies

Samsung is joining a number of other companies in exploring the idea of using blockchain logistics to streamline global supply chains. It is reported that the tech giant has already begun developing a distributed ledger system to monitor international shipments.

Recently, IBM has teamed up with Danish shipping giant Maersk and India’s JM Baxi, in order to digitalize their import and export process with blockchain.

Energy is one of the most frequently traded resources and the implementation of a more efficient system has captivated market leaders. BP was testing a gas trading platform, while E.ON and Enel, have also experimented with similar energy trading platforms.

Sinochem, one of China’s main oil companies, used blockchain to monitor and store data on a shipment of gasoline to Singapore.

Issues surrounding current logistics

The top 20 exporters of containerized cargo transport a total of around  127.6 million fully-loaded TEUs (twenty-foot equivalent unit) globally a year. Countries with a higher level of human intervention can take up to 11 days to process logistics. OECD countries have managed to reduce this to about 9 hours but the process is still prone to human error.

Fraudulent goods are worth USD 1.4 trillion globally and tax avoidance continues to be an issue. Not only does this affect profits but health depending on the type of product and its use. There is a growing concern among consumers about imitations and problems with verifying the authenticity of a product.

Documentation can be held up or lost by middlemen, resulting in perishable goods being stuck in transit. This can end up costing up to a fifth of the total transportation costs as well as the price of the goods.

Benefits of blockchain logistics

Blockchain is set to help shippers, ports, customs offices and many other parties in the global supply chain by replacing paperwork with irrefutable digital records.

Blockchain could provide proof of provenance for goods by tracking them globally from the manufactures. Import details, fees, and taxes could all be programmed into smart contracts that release payments automatically once the conditions where met. Customers will see an improvement in services as the overall speed of the processes increase.  Tracking will include improved shipment data with timestamps and data being instantly accessible through a ledger.

Blockchain will benefit logistics by providing enhanced security and vendor management, as well as preventing the loss of goods.

 

The post Samsung Investing in Blockchain Shipping Technologies appeared first on BitcoinNews.com.