Category Archives: Consensys

Auto Added by WPeMatico

Consensys partners WWF for transparent philanthropy READ MORE:

Consensys Collaborates with WWF for Donation Transparency

Consensys partners WWF for transparent philanthropy READ MORE:

Blockchain-based startup Consensys has partnered with World Wildlife Fund (WWF), a non-profit governmental organization that works towards wilderness preservation. Together, they are launching a platform called ‘Impactio’ for developing transparency in the usage of their funds and donations.

Non-profit organizations generally fail to effectively provide transparency regarding their use of funds to their donors, which becomes a hindrance for incoming donations. In fact, most of these NGOs do not have proper resource allocations aligned to their objectives. Impactio allows the donors to feel confident about their donations by collaborating with experts who develop a consensus after critical analysis and perform other due diligence.

This platform uses Ethereum blockchain technology and tokenization to increase the association between subject matter experts, individuals and organizations who indulge in philanthropic donations. The individuals and organizations using this platform will have to submit their projects with clear objectives for issues ranging from sustainability and inequality to emerging communities and the environment, all enshrined in the 17 sustainable development goals of the UN. The tokens issued to these subject matter experts can be held in a digital wallet. This is coupled with a Token Curated Registry (TCR) from Consensys which will be used by the platform to curate high potential projects and present them to prospective funders.

Social entrepreneur and Aidcoin founder Francesco Nazari Fusetti emphasized the need of charities and non-profits to be transparent and in touch with their donors all the time. He said:

“Adding proofs of payments will surely help in creating a success story, and this can only happen with the help of blockchain technology.” is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow on Twitter: @bitcoinnewscom
Telegram Alerts from

Image Courtesy: Pixabay

The post Consensys Collaborates with WWF for Donation Transparency appeared first on

Emerging Technologies and Digital Clothing Could Ignite a Revolution in the Fashion Industry

Blockchain technology is at the forefront of adoption by the fashion industry.

From Louis Vuitton to Gucci to Ralph Lauren, the luxury and fashion industry has made a gargantuan impact across the globe. The industry has shown a strong growth trajectory and is currently valued at a staggering USD 3000 billion. However, what remains behind the curtain is the insane amount of resources squandered by the industry every year. Believe it or not, the industry is the second largest contributor of waste pollution – most of which ends up in landfills. There is a deeper story attached to every piece of garment which challenges our morale.

The root of the problem is that many luxury brands would rather have their products dumped or burnt than having them at discounted clearance sales – all this to “preserve the prestige and the brand’s shine.” For example, in 2017, it was reportedly revealed that the Swedish multinational clothing-retail company, H&M burned approximately 60 tons of unsold clothing since 2013. In another instance, a British fashion brand, Burberry burned clothes worth USD 37 million. These statistics shed light on the appalling secret of the fashion and luxury industry.

Moreover, many a times the goods remain untracked due to inefficient infrastructure and poor data-sharing between the stakeholders. Naturally, the industry has been dipping into ground-breaking technologies and innovations to scale up sustainability and curb the radical impact it has had on the environment.

Overcoming the barriers in the fashion industry

Product wastage

As mentioned earlier, product wastage is perhaps the industry’s biggest downside. Typically, the manufacturer has to buy the raw material which is then used for production in the mills. These products reach the end-consumers through various intermediaries, during which they are prone to mismanagement.

Decentralized technologies such as blockchain are being implemented extensively by many industries to transform value chains. The whole idea is to deviate from centralization to prevent data manipulation and enhance product supply across the network. The technology also fortifies the authenticity of the high-end designer products to eliminate counterfeits.

For instance, a blockchain-based platform VeChain, made a mark in fashion to enhance product management throughout the supply chain. Last year, VeChain also partnered with a high-profile shoe artist SBTG in order to release an Adidas shoe embedded with NFC chips which would allow customers to watch a video of their shoes being manufactured by scanning the chip; all information which is stored on the VeChainThor blockchain.

In May 2019, Luxury conglomerate, Moët Hennessy – Louis Vuitton (LVMH) in a consortium with Microsoft and  ConsenSys, unveiled a blockchain-based platform, Aura, for authenticating luxury goods amid the proliferating amount of counterfeit products.

Inhumane labor

On 24 April 2013, the Rana Plaza building of Bangladesh collapsed with 1132 casualties – all of which were laborers. Exploited garment workers in the country have caused ripples on the water since the devastating collapse. In another incident, 112 workers died in a catastrophic fire break-out in the Tazreen Fashion factory. These figures raise significant questions pertaining to the current safety standards of the garment industry.

Addressing these issues is of grave importance, in order to provide ethical work environments while safeguarding the human rights of the workers. However, achieving this can be quite a feat, given the difficulty in monitoring the globe-spanning industry and the fact that most of the consumers are ignorant about the social and environmental whereabouts of the shirts on their back. In such a case, a transparent supply chain does wonders to disclose relevant information to the consumers and to do away with the opaque and complex supply chains.

Provenance is one such startup which uses blockchain technology to educate consumers about the product – way beyond the labels. The platform has been designed to overcome the current challenges by providing an uninterrupted chain of custody.

The Fashion Revolution movement

The Rana Plaza tragedy was commemorated by a revolutionizing Twitter campaign #WhoMadeMyClothes as part of the Fashion Revolution movement which is held annually. About 3.25 million people all over the globe participated in the same during the Fashion Revolution week in 2018. The movement is aimed at realizing better standards of fashion extending to all facets of the sector. This can only be achieved by establishing a comprehensive production background associated with every product.

Fashion Revolution Week, 2019 celebrated good changes in the industry

Fashion Revolution Week, 2019. #LovedClothesLast

The Fashion Revolution Week, 2019 celebrated transition to better business models with a Twitter campaign #LovedClothesLast. Blockchain projects are now attempting to track not only ethical fashion, connecting the worker with the consumer but also environmentally friendly materials and designer products.

Digital clothing

As reported by, the gaming industry has already led to a significant engagement of players with the virtual economy. In such a scenario, digital clothing is not far behind in terms of recognition and hype. In fact, Vogue shed light on the increasing popularity of digital clothing while indicating its potential to beat the popularity of gaming itself.

“People think that this is not a real thing, but the numbers are off the charts,”  – said Matthew Drinkwater, head of the Fashion Innovation Agency, London College of Fashion.

Recently, digital clothing shook the norms of physical clothing and took a leap closer to reality when fashion pioneers, The Fabricant, designed digital couture by coupling “2D garment pattern-cutting software and 3D design software.” According to Forbes, the garment exists uniquely as both clothing and cryptocurrency. The digital clothing is considered the second-best option – next to going naked – to sustain the planet. True or not, it does incite further exploration of the realm to bolster a digitally-hooked world.

Fashion comes closer to digitalization after the debut of this digital colthing

Image courtesy – The Fabricant


Highlighting the importance of transparency, Leonardo A. Bonanni, the founder of the supply chain transparency platform, Sourcemap said:

Without understanding the impacts of goods and services, we buy into systems that deplete natural resources, worsen environmental and social problems and endanger humans and ecosystems. Supply chains are conventionally held secret, limiting the stakeholders who can prevent environmental, social and health and safety problems.

The blockchain technology is paving way for sophisticated tracking methods to whichever industry it can extend its hands to. Perhaps now is the time to switch to a more reliable and efficient paradigm to endorse eco-friendly products and truly spark the fashion revolution from farm-to-closet. Educating the consumers plays an upper hand for them to make informed choices whilst putting an end – at least to an extent – to the deepest flaws of the industry. is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow on Twitter: @BitcoinNewsCom
Telegram Alerts from

Image Courtesy: Pixabay

The post Emerging Technologies and Digital Clothing Could Ignite a Revolution in the Fashion Industry appeared first on

Ethereum Foundation Discloses Annual Funding, to Be Spent on Development Over the Next Year

Ethereum foundation to make funding of  Million to develop Ethereum ecosystem

On  10 May 2019, at the ConsenSys’ Ethereal Summit, the Executive Director of Ethereum Foundation, Aya Miyaguchi, revealed their plans to support the overall ecosystem development by spending USD 30M on different projects over the course of 12 months.

The funding will be used to improve the current PoW algorithm of Ethereum 1.x, the general core support and development to enhance the overall performance and security of Ethereum. They are also planning to organize hackathons and ensure better development of relations to allure programmers, developers, and the general audience.  The company is also looking to fund an academic approach in Ethereum aiming to attract top academic researchers and organisations.

ConsenSys and the Ethereum Foundation announced that they are going to support MolochDAO by donating 1000 ETH each. In return, MolochDAO seeks to aid the Ethereum Foundation by providing funds for the development of the Ethereum infrastructure. Priority will be given to funding the further development of the highly anticipated version of the blockchain-based platform, Ethereum 2.0. The donation will raise the value of MolochDAO’s funding pool to over USD 1M, as reported by CoinDesk.

Over the last year, the foundation spent about USD 27M for the same cause, seeking to target critical projects to develop the overall ecosystem. The Foundation has been supporting the Ethereum’s development for five years now. It has granted USD 13M for Blockchain scalability since March 2018.

At the ConsenSys on 10 May, the crypto analytics firm’s CEO, Messari asserted that the Ethereum 2.0 proof-of-stake (PoS) transition will not happen before the end of 2021. He believes that the PoW algorithm will sustain for ‘at least two or three years’.

Miyaguchi said that further information about the Foundation’s finances will be disclosed in the weeks to come.

Follow on Twitter: @BitcoinNewsCom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Steve Buissinne from Pixabay

The post Ethereum Foundation Discloses Annual Funding, to Be Spent on Development Over the Next Year appeared first on

Is There a Future for the Crypto City

Is There a Future For The Crypto City

With Bitcoin seemingly on the march again, news of yet another smart city planned for construction stirs up the debate; can self-regulating crypto cities become a future reality if cryptocurrencies surpass cash and credit, or must they continue to share the same space.

Autonomous and self-regulating crypto environments aren’t simply a pipedream, if not a reality they are becoming the target of forward-thinking jurisdictions and well documented. So how does a smart city become a “Cryptopia”, and is this possible?

Smart cities are becoming a reality; the latest announcement by the Malaysian government has certainly gained the attention of the crypto press with huge plans for a blockchain city built on over 835 acres off the coast of Malacca in a project backed by the government of China and construction and engineering company China Wuyi.

Urban development in China, at first slipping under the global radar, suddenly exploded into reality, and three decades on becoming an example to the world as just how rapid change can be when it becomes the central guiding focus of a government and its people. Clearly, it wasn’t going to be too long in cryptocurrency’s very short history before China zoomed in on the latest opportunity.

The new Malaccan project is not the only Chinese future crypto city to emerge from drawing board into reality, with a significant partnership created last year between Xiong’an and blockchain development company ConsenSys in order to create President Xi’s own future dream city just 90 minutes from the capital.

One of the aims of such spaces is to make them functional for a range of business enterprises and educational services and in some cases also integrate platforms offering a city cryptocurrency, such as Melaka Straits City’s proposed DMI coin. But are they, or can they even become, autonomous self- dependent crypto environments so early in cryptocurrency’s development, when public trust is such a huge factor? Cities have, and will, continue to launch their own cryptocurrencies, and some may even insist on established currencies such as Bitcoin being used exclusively, although at present such jurisdictions are not proven.

Slovenia, which is in the process of establishing the world’s first crypto-friendly shopping center BTC CITY will contain a collection of shops that accept cryptocurrency. It has even taken the major “wild west” step of asking customers to leave their fiat at the door. The Ljubljana based BTC City, however, is planning to use dozens of digital currencies that already exist, rather than creating new ones from scratch. Still, this is one step further than the South Korean town of Gimpo who although having created its own K Coin, then allow stores to convert the cryptocurrency into fiat.

Liberstad, the anarcho-capitalist utopian project in Norway is a privately-run smart city project by the non-profit Liberstad Drift Organization, that aims to implement the principles of a total free-market economy and lack of government interference with a special focus on abolishing taxation. This seems to be a direction towards a truly autonomous non-cash reliant jurisdiction worthy of a crypto city, or in this case crypto town, tag.

The new city now has a “City Coin” (CITY) as their cryptocurrency. National fiat currencies are entirely prohibited, and the only way to pay within the city is with the CITY token. It operates seamlessly with the blockchain-powered smart city platform. Locals have the opportunity to use CITY “on a private, internal, and voluntary basis,” though it replaced public provisions that would otherwise be offered by the government. The press release said that the blockchain’s reputation for being trustless and decentralized is the “key ingredient for the development and prosperity of sustainable and free city-societies.” The head of Liberstad Drift AS, John Toralf Holmesland, has helped to implement the libertarian ideology and non-aggression principles into the society and writes:

“We want a society where people decide over themselves and can live together without government authorities. We want a society without government coercion, blackmail, surveillance or unnecessary violence.”

There are others who want to go through the entire course, but the proof is in eating, so to speak. 37-year-old Brock Pierce, a one-time child actor and now renegade Bitcoin evangelist, being one of the more publicized, with his attempts to promote “Puertopia” in Puerto Rico – a US overseas territory recently devasted by Hurricane Maria.

Although dozens of American entrepreneurs are flooding to build up the community after carelessly naming it “eternal boy playground” in Latin, and then sensibly changing it to Sol, it remains to be seen if a true crypto-community can become reality. The Puertopians have met local resistance, despite Pierce’s promises of offering compassion, respect, and financial transparency;  locals are not all as enamored with the goals of ‘Sol’ as was originally anticipated. This proves that Cryptopias cannot be created unless absolutely everyone is a participant and has a stake.

This may have been American Singer Akon’s objective in creating Akoin and then proposing building a futuristic city around it, based on the idea of Wakanda, the fictional highly technologically advanced African nation featured in the recent Black Panther movie.

Akon says he wants all to have a stake in his new 100% crypto-based city near Dakar, but how it will come to fruition is still anybody’s guess given how scant information is on the concept currently. It is true that Senegal is a country motivated by change with its new USD 700 million airport, but the only town taking shape near the airport-the proposed location for Akon City- currently is a purpose-built town called Diamniado, and the crypto city project remains just an idea.

All these concepts, ranging from the actual to the imagined, will face complexities in making a shift towards cryptocurrency and away from fiat. Security will be key for those cities launching their own cryptocurrencies and blockchains, needing to be foolproof and un-hackable, and citizens’ tokens safe. The volatility associated with cryptocurrencies will need to become a thing of the past before fiat can become irrelevant.

Digital tokens will possibly need to be backed by some other asset, a la stablecoins, an idea promoted by Brock Pierce himself back in 2014 with the launch of realcoin. Myles Snider of Multicoin Capital claims that stablecoins can offer a solution to cryptocurrency volatility, claiming that cryptocurrency’s current instability will prevent progress in terms of digital currency displacing fiat. He comments:

“The decoupling of governments and money could provide an end to hyperinflationary policies, economic controls, and other damaging policies that result from government mismanagement of national economies… and stablecoins can provide the solution”

The move towards crypto cities has clearly begun, albeit at toes-in-the-water velocity, and the Chinese, fervently anti-crypto philosophically, are ironically in the vanguard of this movement, but with blockchain as the motivator rather than any desire to replace the Yuan. Towns like Zug in Switzerland currently bridge the gap, making cryptocurrency useful and functional in the daily lives of their inhabitants.

But a true Cryptopia is yet to be created. Liberstad currently remains the only close model with its idealism of the people “living together without government authorities..without government coercion, blackmail, surveillance or unnecessary violence.”

A global financial revolution with governments recognizing cryptocurrencies’ innovative ideology for a more secure monetary future and governments switching from conventional currency to digital forms of currency, as a result, is distinctly possible. This change seems a long way off, but it is in this environment that crypto cities will begin to emerge. It’s back to public trust in crypto to get this moving.

Follow on Twitter: @BitcoinNewsCom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy:

The post Is There a Future for the Crypto City appeared first on

Louis Vuitton, Microsoft to Build Proof of Authenticity Blockchain

Louis Vuitton, Microsoft to Build Proof of Authenticity Blockchain

High street fashion designer and luxury brand Louis Vuitton (LV) has entered the blockchain race with plans to build its own private blockchain to help track authenticity in their high-end products. It has agreed to work with tech giant Microsoft on the project.

The largest French fashion house intends to begin tracking all its goods from the source of origin as raw materials to their sales shelves, including on secondary markets. Codenamed AURA, the blockchain will be developed using a version of the Quorum blockchain, first built by JP Morgan. LV will be using a more controlled and permissioned version of it, ensuring no data leaks between brands and customers to maintain data privacy.

Project collaborators include ConsenSys and Microsoft Azure, with the team members from all three firms already spending a year on AURA. The next stage of development will focus on intellectual property protection before the platform goes live by June at the main LV branches.

LV also plans to offer the service to other brands with whitelabelling and has promised to share AURA by donating the IP to an unrelated body that will be co-owned by brands backing the platform.

Blockchain is stamping its mark on the fashion industry, with the immutable aspects of blockchain proving to be very attractive in ensuring authenticity via supply chain tracking.

According to Wikipedia, LV has some 460 international stores in over 60 countries, and was the most powerful brand in the world for six years running from 2006 to 2012, with a total 2013 valuation of USD 28.4 billion.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy:

The post Louis Vuitton, Microsoft to Build Proof of Authenticity Blockchain appeared first on

Ethereum Futures Contract: Net Sentiment Appears Positive

Ethereum Futures Contract: Net Sentiment Appears Positive

The United States Commodity Futures Trading Commission (CFTC) is currently reviewing entries from its Request for Input on Crypto-Asset Mechanics and Markets initiative set up last year aimed at collecting information about Ethereum and the resulting impact of a futures contract based on the digital asset.

After reviewing 43 entries, of which 29 of them seem to provide credible insights into the subject matter, an overall assessment may be that of positive sentiment towards an Ethereum-based futures contract. Of the entries, industry experts such as members from the Ethereum Foundation, Coinbase, Consensys, Circle, Craig Wright, ErisX, among others had provided their opinions about the stance of Ethereum in comparison to Bitcoin – which already has an approved futures contract running.

Highlights from the entries included describing the nature of Ethereum as being essentially a smart contract decentralized application (Dapp) creator first, before being considered a store of value or as a medium of exchange.

The Ethereum Foundation clarified that the intrinsic designs of the Ethereum network are “not financial in nature but simply use the blockchain as a source of high-assurance computation and data storage”.

Circle emphasized on Ethereum’s medium of exchange value: “As with Bitcoin, Ether can be used to pay for transactions and can be used for payments. Unlike bitcoin, tokens on the Ethereum network can be generated using smart contracts and can be used in smart contracts and transfers.”

Another comparison described Bitcoin as simply a store of value and medium of exchange, while with the nature of Ethereum’s versatility, the risks scale alongside, as the Futures Industry Association (FIA) opined: “With the Ethereum Network’s architecture, risk management is potentially more complicated than for Bitcoin by orders of magnitude…”

On the other hand, when the regulator asked about the impact of an approved futures contract on the asset itself, ErisX offered its opinion, suggesting that it would have a more positive impact on the growth and maturation of the market. It believes a futures contract will provide “the potential for greater liquidity, more effective price discovery, and more efficient risk transference”.

Although other players in the industry may have had slightly more critical views about the Ethereum network, the compromise did come at a shared view from larger players on more regulatory oversight on the industry.

The first obstacle to a second official cryptocurrency futures contract in the United States may have been scaled when the Securities and Exchange Commission (SEC) said Ethereum won’t be regulated as security. The second important milestone is an approval from the CFTC, which was initiated when the regulator asked for public opinions about the Ethereum network. CBOE plans to launch an Ethereum futures contract currently awaits the regulator’s approval.

Bitcoin futures contract were launched by Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE) in late 2017, which had a compelling effect on the crypto market, taking it to new all-time highs at the time. One major sentiment in the market is that more derivative contracts would have a similar effect on the market. As such, an approved Ethereum futures contract in the US may bode well for the Ethereum support community since the asset’s market value has depreciated by as much as 94.2% at some point; and currently, its price has dropped 89.6% since it’s last all-time high.

Although cryptocurrency exchange BitMEX currently offers an Ethereum futures contract quoted in Bitcoin and has been receiving positive patronage in recent times, still, the market could be set up for an explosive uptrend should the CFTC grant its approval to the CBOE exchange.


Follow on Twitter: @BitcoinNewsCom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Ethereum Futures Contract: Net Sentiment Appears Positive appeared first on

ConsenSys to Assist in Blockchain Training for Young Black Women

ConsenSys to Launch Blockchain Training for Young Black Women

ConsenSys has teamed up with Black Girls Code, a non-profit organization providing tech training to young women of color between the ages of 7 and 17.

The partnership will establish the first blockchain training program of its kind in the US which will branch into US states and beyond. The program will be available in Oakland, California, Atlanta, Georgia and in New York City, with plans to run in Johannesburg, South Africa.

The program will be a comprehensive entry in the blockchain system for young participants, including lessons in cryptocurrencies and the fundamentals of the blockchain. Students will be thrown in at the deep end with a hands-on approach, requiring that they participate and contribute to blockchain developer conferences around the globe, enabling them to turn theory into practice. Black Girls Code CEO Kimberly Bryant commented that:

“The ConsenSys team has consistently impressed me with their commitment to creating pathways for access and inclusion within the blockchain ecosystem and their passion for introducing these tools to the next generation of coders.”

Black Girls Code has even developed its own token, and since August of last year, 60 young black women involved in the program have been introduced to the workings of cryptocurrency and blockchain, with a view to increasing these numbers into hundreds in 2019.

The organization has huge targets and has stated that it wishes to train a million girls by the year 2040, becoming a high-tech version of the Girl Guides. One aim is to ensure that minority groups in fintech have a space to grow and flourish encouraging innovative outside investments into such groups.


Follow on Twitter: @bitcoinnewscom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post ConsenSys to Assist in Blockchain Training for Young Black Women appeared first on

ConsenSys, AMD to Develop W3BCloud, a Blockchain-Based Throughput Solution

ConsenSys, AMD to Develop W3BCloud, a Blockchain-Based Throughput Solution

A press release yesterday by blockchain software company ConsenSys detailed the inking of a new partnership deal with American multinational semiconductor company Advanced Micro Devices (AMD) and Abu Dhabi-based investment management firm Halo Holdings, to develop an optimized blockchain-based cloud solution dubbed W3BCloud for the blockchain industry throughput.

“W3BCLOUD is focused on providing the first independent cloud computing blockchain infrastructure, combining increased transaction throughput with state-of-the-art security,” the release states. The new infrastructure is being built to handle the emerging day-in and out of blockchain workloads to provide more efficiency in the space.

The three partners will combine their resource expertise in their field of technology. ConsenSys is to provide blockchain-related insights into “efficient compute usage for blockchain transactions, security requirements, and emerging use cases,” while AMD will leverage its renowned high-end performance hardware manufacturing specialties to build the datacenters with architectures that match the specific blockchain requirements.

Founder of ConsenSys, Joe Lubin said in regards to the newly forged partnership that “bolstering the compute power of blockchain networks with AMD’s leading-edge technology will be of great benefit to the scalable adoption of emerging decentralized systems around the globe.” Lubin expressed his usual enthusiasm for blockchain scaling, touting the envisaged product as one that “will power a new infrastructure layer and enable an accelerated proliferation of blockchain technologies.”

Joerg Roskowetz, Director of Product Management – Blockchain Technology at AMD also said in the release that they are “excited to work ConsenSys” and lend their expertise and “access to high-performance hardware technologies.” They are also optimistic about the concept of the emerging technology as well as the profound use case coverage, and are willing to play their role in the partnership to build systems “capable of better scaling and proliferating decentralized networks.”

Roskowetz identified “smart identity, enterprise data centers, and health ID tracking, to licensing and supply chain management,” as possible use cases where the new technology could be of use.

Both companies have been spreading roots within blockchain space. ConsenSys has been building up its reputation among high-interest groups both within and outside the blockchain ecosystem. It recently signed a Memorandum of Understanding with leading IT company SK Group to build and further develop the blockchain ecosystem.

AMD reportedly signed contracts with 7 major technology firms last year to develop eight high-end performance and enterprise-grade mining rigs. This is despite the sales report by the 2018 Q3 financials of the company that attributed blockchain’s contribution as per GPU-built mining chips as “negligible.”


Follow on Twitter: @BitcoinNewsCom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post ConsenSys, AMD to Develop W3BCloud, a Blockchain-Based Throughput Solution appeared first on

Joe Lubin Sees “Bright Future” for Ethereum: “Sky Not Falling”

Joseph Lubin, Co-Founder of Ethereum and Founder of ConsenSys sees a “very bright” future for Ethereum.

The ConsenSys founder’s comments give some comfort to Ethereum investors after a tumultuous year on the markets, which is only just beginning to show a bullish side in the lead into Christmas. His comments were responding to criticism of a proposed final total of 60% of staff being laid off due to significant ConsenSys restructuring.

The “sky is not falling” said Lubin after staff was notified last month of “a sweeping plan to make ConsenSys more focused and competitive in an increasingly crowded field,” with the adoption of ConsenSys 2.0.

“It’s focusing, it’s adding rigor, it’s adding accountability, and it’s opening ConsenSys up more to the world,” assured Lubin, but with some home truths for investors:

“Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members… Projects will continue to be evaluated with rigor, as the cornerstone of ConsenSys 2.0 is technical excellence, coupled with innovative blockchain business models.”

The wave of negative responses and tweets which followed the announcement of ConsenSys 2.0 prompted an attack from the Ethereum co-founder, arguing:

“What I’ve witnessed among the chattering class the past few weeks in response to ConsenSys 2.0 is a rather typical tune: the alarmed, the eulogistic, and the gleeful.”

Lubin argued that layoffs are not necessarily the outcome of the restructuring of ConsenSys stating that in the last week the company has hired 15, and has other positions available which the company is posting opportunities for, commenting that, “Some within ConsenSys whose roles have been eliminated recently are looking to fill other roles at ConsenSys. This is a rebalancing of our activities and workforce.”

Rather than “the sky falling” Lubin asserts that Ethereum protocol development is accelerating, resulting in “the continued maturation of the token economy, which will see many exciting consumer utility tokens and tokenized security launches in the new year.”

Follow on Twitter: @BitcoinNewsCom

Telegram Alerts from

Want to advertise or get published on – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Joe Lubin Sees “Bright Future” for Ethereum: “Sky Not Falling” appeared first on