KW 23: Bitcoin and Ethereum are losing value, China’s government issues new blockchain agenda, Solana – the new star in the smart contract sky


Bitcoin and Ethereum are losing value: Bitcoin’s price slipped again Tuesday amid a brutal sell-off among digital currencies. The reason for the move was unclear, however it may be related to concerns over security of the cryptocurrency after US officials managed to recover most of the ransom paid to hackers that targeted Colonial Pipeline. But on Wednesday morning, Bitcoin was trading more than 4% higher. The price was around $34,288 per coin, while rivals Ethereum and Dogecoin were trading around $2,497 and 32 cents per coin, respectively, according to Coindesk.,

China’s government issues new blockchain agenda: China’s Office of the Central Cyberspace Affairs Commission and the Ministry of Industry and Information Technology (MIIT) have identified four essential application areas for blockchain adoption. The MIIT’s five-point agenda for blockchain adoption is part of a document issued on Monday detailing guiding opinions to accelerate the promotion of the emerging technology for industrial development. As previously reported by Cointelegraph, China’s President Xi Jinping previously called for rapid blockchain adoption back in October 2019.

Solana – the new star in the smart contract sky: While smart contract pioneer Ethereum is working on a complete switch to Ethereum 2.0, numerous competitors are also nearing completion. One of these is Solana – one of the world’s fastest blockchains. It was founded by the American programmer Anatoly Yakovenko. The idea behind Solana is that by connecting SHA256 and the Verifiable Delay Function, a kind of decentralized clock for networks can be built. The clock ensures that all network nodes are synchronized. Each transaction has its own time stamp, which can be used to properly check its validity.

New blockchain platform wants to promote biodiversity: To counter the alienation between agriculture and consumers, the BayWa subsidiary BayWa IT GmbH and the technology startup partner Youku GmbH are developing the digital platform Combayn. It allows private individuals, companies and organizations to take on so-called flower sponsorships. Small amounts of one euro or more can be paid. The money ultimately goes to affiliated farmers who convert part of their lands into flowering areas. Particularly suitable areas can be selected for this by evaluating satellite images.

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Acquisition: TechX acquires XPort Digital
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The Justice Department on Monday recovered some $2.3 million in cryptocurrency ransom paid by Colonial Pipeline Co, cracking down on hackers who launched the most disruptive U.S. cyberattack on record.


SSI gives users back control over their identities: Self-Sovereign Identity (SSI) is increasingly the method of choice for companies, IT service providers and users to provide digital identities and other verifiable digital evidence. Central ID providers such as Google and Facebook currently dominate the management of identity data for numerous IT services worldwide. This creates a dependency within society, companies and users. With SSI, on the other hand, users can check and own their digital identities and further digital proofs. In doing so, they don’t have to rely on central offices, but decide independently who is to make which identity data available.

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Why data in the blockchain is so secure: Cyber attacks can seriously affect companies both financially and in terms of their reputation. The blockchain is recommended as a foolproof solution in the field of IT security due to its distributed or decentralized ledger system for the incorruptible recording of transactions. Furthermore, the human element can be greatly reduced by the fully automated data storage. One of the essential key components of blockchain technology is the decentralization of information. This means that individual target points within IT systems can be switched off for attackers. As a result, hacking systems or locations becomes almost impossible because access control, data storage and network traffic are no longer in one central location. Nevertheless, the relatively young technology still has to prove itself in many areas.


„Medical research data is a treasure. You can make a decisive contribution to the development of personalized therapies that are tailored to each individual more precisely than conventional treatments. It is important for science to be able to use such data as comprehensively and from as many sources as possible.“
Joachim Schultze, Director of Systems Medicine at the DZNE and Professor at the Life & Medical Sciences Institute (LIMES) at the University of Bonn on the use of blockchain and AI for blood cancer research.


Mad Invest as a blockchain platform for crowdfunding: The independent film “Mad Heidi” couldn’t possibly sound any crazier. It unites a dystopian Alpine republic, a young Swiss girl and a National Socialist cheese magnate who is overthrown in a violent revolution. In order to be able to implement this film project, the makers of the film, Swissploitation Films, founded the blockchain financing platform Mad Invest. With the help of this platform they want to maintain control over their project from financing all the way to film distribution. The shares in the film are not tokenized. Investors receive neither crypto tokens nor a direct influence on the project.

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