Intel Gained a Patent that Makes Mining more efficient
Intel has successfully patented an innovation that would make mining more efficient. In the process of mining certain hash functions constantly repeat themselves. Intel found a way to include this functions into the hardware of an Asic miner or graphics card. This means that these functions don’t need to be carried out anymore by the software. Thus, the mining process becomes more effective. The patent sparks rumors that Intel could enter the mining hardware market in the future.
Korean Company Claims to Have Revolutionized Blockchain Technology
SymVerse, a South-Korean company, claims to have revolutionized the blockchain by making it faster and more functional. The company states that it works without smart contracts while keeping the functionality. According to the CEO, Choi Soo-hyuk, this is one of the major reasons why the adoption of blockchain slowed down. About 30 companies are said to use the blockchain already. SymVerse also claims to be the only blockchain company that has a Nobel price laureate as an advisor which would be Thomas Sargent. He was a co-recipient of the price in 2011 for economics.
BP and Shell use Vakt Blockchain Platform to Trade Oil
A press release by Vakt evealed that it offers its service to 5 crude oil producers. Among them are the oil giants BP and Shell. The companies offer their products to a selected group of clients for now. However, Vakt announced that it will roll out its platform in January. Later in 2019 it also wants to expand the platform to other resources. Vakt’s platform is based on Quorum, which is J.P. Morgan’s enterprise version of Ethereum.
Estonia Revisions Its Rules for the Crypto Sector
Estonia intends to tighten its rules on the cryptocurrency sector. The Estonian Financial Intelligence Unit proposed amendments to the existing regulation on cryptocurrencies. The amendments intend to strengthen AML and CFT requirements that companies have to deal with it. Another major change that goes beyond the crypto sector is that companies that register their company under Estonian law have to open at least a subsidiary in the Baltic state. In the case that the whole company files under Estonian law the company has to have its headquarter in Estonia.