Cryptocurrency News I BitSeven digest daily 10 04 2019
1) IBM patented blockchain solution for managing unmanned vehicle data
IBM received another development patent related to blockchain. This time on a solution for managing data of unmanned vehicles. Document was published by United States Patent and Trademark Office (USPTO) on April 2.
As stated in patent application, blockchain-based system can improve the efficiency of autonomous vehicles by ensuring the confidentiality and accuracy of the data necessary for their work. IBM solution will allow autonomous vehicles to interact with non-autonomous and predict driver behavior based on various parameters and analysis of the predicted and actual maneuver of nearby vehicles.
“Monitoring, recognition and collection of data on driver behavior can be carried out in real time using sensors installed in the vehicle cabin. The data will be uploaded to the cloud storage, the so-called Mobile Information Center (MIC), to which autonomous vehicles can connect,” – states the application.
IBM proposes to optimize this design using blockchain, noting that this technology will not only ensure full functionality of the data, but also preserve their confidentiality by providing access to information only to authorized persons.
Let’s recall earlier in February giant car manufacturer GM announced to want to use blockchain to prevent fraud in automotive industry. And also it was not the first time that IBM chose blockchain to apply in their operating model.
We continue cryptocurrency news Bitseven daily with Facebook development of their stablecoin:
2) Facebook can raise up to $1 billion in venture capital to secure its stablecoin
New York Times journalist Nathaniel Popper, citing sources familiar with the situation, said on Monday that Facebook is looking for venture investors who are willing to finance its stablecoin in the amount of up to $1 bill.
According to Popper, attracting investors from outside will allow FB to position its project as “more decentralized and less controlled by the company itself”, that is, to take advantage of “one of the main attractive features of blockchain.”
“One of those with whom I had the opportunity to talk, said that FB is negotiating for using this money as collateral for their cryptocurrency tied to a group of foreign currencies that will be in bank accounts,” – he stated referring to his sources.
Bloomberg wrote about possible development of FB Coin in December last year. According to the publication, the tool will be used to make money transfers in the social network-owned messenger WhatsApp.
In February, NY Times reported that stablebcoin will be integrated into Facebook Messenger, WhatsApp and Instagram applications. Also according to an anonymous source, FB hired 50 developers to realize its plan and is already negotiating with many cryptoexchanges regarding potential listing of new token.
Next up in cryptocurrency news release – situation with Quadriga is coming to closure really soon:
3) The court upheld the QuadrigaCX cryptocurrency bankruptcy
QuadrigaCX, a Canadian cryptographic exchange, is officially declared bankrupt, the local CBC news agency reported.
The bankruptcy decision of the exchange was made by the court on Monday in accordance with the recommendation of the auditing company Ernst & Young, which declared last week that it would not be expedient to further consider the case in the framework of the law “On the organization of company creditors”. According to EY, in the current situation it was preferable to bring the case under the law “On Bankruptcy and Insolvency”.
Together with the latest court decision, EY, as a trustee, was given the authority to conduct an investigation, so that it would be able to request the necessary documents and obtain evidence from witnesses.
The court also supported EY’s asset protection petition, which extends to the property of Gerald Cotten, the former owner of QuadrigaCX, and his widow, Jennifer Robertson, and prohibits the transfer or sale of such property.
4) More than 20% of Bitcoin short positions unexpectedly closed on Bitfinex
On Monday morning, April 8, over 20% of Bitcoin short positions for a total of about $34 million were suddenly closed on Bitfinex, and this development added uncertainty about the further price movement of the first cryptocurrency.
Original of the video here