By Igor Pejic, speaker, banker, and author of Blockchain Babel

The hysteria about cryptocurrencies is ebbing. Their value is down by 85% from its peak and no end of the crypto-winter is in sight. And the public disappointment is rubbing off on the technology powering cryptocurrencies – the blockchain. The trend forecast of Gartner Inc., a steady weather vane in the tech world, is a case in point.

The blockchain has been invented a mere 10 years ago
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In the list of impactful technologies, the blockchain plunged to the bottom last month. Forrester, another research firm, came to a similar conclusion already one year earlier. So did companies implementing it. SWIFT, the network underpinning most of the world’s monetary transactions, said blockchain was not yet ready for mainstream use, despite a successful proof-of-concept test. The reason: operational challenges when scaling.

In Gartner's list of impactful technologies, the blockchain plunged to the bottom last month
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Media and tech vendors alike have fueled a frenzy that gorged on stories of early crypto-millionaires, overblown claims of disruption, and a deep anti-banking sentiment. This mania has been sustained by pernicious myths such as the equalization of cryptocurrencies and blockchain, or the belief the blockchain would rid the world of all institutions of trust. Research and consulting firms kept claiming the technology is closer to its break-out moment every day, while the big bang has stayed away. Is the blockchain just a placebo that made us feel better about the future of finance without actually offering a cure?

SWIFT, the network underpinning most of the world’s monetary transactions, said blockchain was not yet ready for mainstream use
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Innovation patterns, observable from historic example, are the best predictor of a technology’s trajectory. The first lesson is that benefits do not accrue overnight. Only thirty years after the electric motor made its debut in factories did productivity rise. It took a new generation of managers to fully grasp its potential and make not only changes to the machinery, but also to business processes. The blockchain has been invented a mere 10 years ago, as the mechanism enabling bitcoin. Years passed until the technology was isolated from the currency-idea.

Media and tech vendors alike have fueled a frenzy that gorged on stories of early crypto-millionaires
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From there it was long way until the more efficient, centralized models – usually referred to as Distributed Ledger Technology (DLT) – conquered the mainstream. While the public pressure for disruptive results is higher today than in the age of the electric motor, it does not change the fact that each new technology must pass all three stages – fluid, transitional, and specific. An intense phase of search for the right product design is incumbent before embarking on efficiency gains.

Is the blockchain just a placebo that made us feel better about the future of finance without actually offering a cure?
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Yet the introduction of the ATM offers the most striking parallel to blockchain’s path. Technologically, the 1960-ies resembled today’s world. Computers and online were the fuzzy buzz-words rather than blockchain, but the same talk about radical disruption had hijacked public debate, accompanied by the same lack of specificity. Citicorp pioneered the idea that machines for cash withdrawal would change banking.

The introduction of the ATM offers the most striking parallel to blockchain’s path
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The journey to implementation was long and fraught with difficulties. Tech-incumbents refused to cooperate, inertia suffocated in-house initiatives and setting up an independent company flopped. Eventually, Citicorp succeeded only when it partnered with a small IT-firm in Los Angeles. Once the on-line transaction processing network was built, the question was how to give customers access to this new magic machines. When they were eventually installed in the bank’s branches, skepticism did not abate. Managers found ATMs more expensive than human tellers; employees fretted they would be job-killers. Similar arguments echo around the blockchain.

The hysteria about cryptocurrencies is ebbing. Their value is down by 85% from its peak and no end of the crypto-winter is in sight
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It took Citicorp years to develop the first ATM and years to make it more efficient than the legacy system of withdrawing money. Yet, when it unfolded the competition did not draw level with Citicorp until the early 1980-ies. The bank’s market share skyrocketed from 4% to over 13%. In 1988 the customer base had tripled as compared to 1977. And the number of branch employees did not drop. On the contrary: In the 11 years it went from 7.100 to 8.400. Miniscule and repetitive tasks were replaced by customer-facing ones, thus making former tellers happier and more profitable.

Legacy systems might still be more efficient than their blockchain alternatives, but the future is a one-way street
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Blockchain is suffering from public fatigue, but it is already at the stage of working prototypes. The fluid exploration phase is drawing to a close as witnessed by the stark decline in ICOs, the crypto-equivalent of IPOs. The second indication is the avalanche of successful pilots led by incumbents and consortia. From Walmart to Wall Street – an impressive roster of the world’s largest companies have found real-life use cases. Legacy systems might still be more efficient than their blockchain alternatives, but the future is a one-way street. Even SWIFT is opening up again on the blockchain by embracing Corda, a blockchain-protocol preferred by most banks.

Blockchain is suffering from public fatigue, but it is already at the stage of working prototypes
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MIT anticipates that blockchain will become “boring” in 2019. It is a time of reckoning in which the forlorn initiatives die and the right ones are tweaked. Remittances, clearance, settlement – they are all use cases comparable to the cash machines in Citicorp’s branches. It is only a matter of time until they surpass legacy systems’ efficiency.

MIT anticipates that blockchain will become “boring” in 2019
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Blockchain Babel: The Crypto-Craze and the Challenge to Business is available now at £14.99

The post Don’t Quit the Blockchain Just Yet appeared first on Tech Trends.

By now, you have probably heard about Bitcoin or blockchain. At least I hope so!

The media attention these two receive has only increased over the years, and the trend shows no sign of stopping. Thus, the chances are that an article or video about them has found its way to your screen by now. But how much do you actually know about Bitcoin or blockchain?

The aforementioned articles or videos, useful though they may be, do tend to be a little too much to take in for someone not in the loop about Bitcoin or blockchain technology. To be sure, one may learn a thing or two, but, nine times out of ten, an uninitiated individual will not really benefit from them.

Where should a Bitcoin and blockchain novice go to find the information she requires? Well, all you need can be found in the following infographic
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This leaves those wishing to learn about Bitcoin or blockchain in a bit of a spot since the information they need can be difficult to glean from all the various sources and navigating through the complicated jargon that goes on unexplained. What, for example, do abbreviations like ICO and DAO stand for? This happens because content creators sometimes assume that the audience is already familiar with the terminology at hand.

So where should a Bitcoin and blockchain novice go to start building a foundation of basic knowledge about these key technologies? This infographic by Bitcoinfy attempts to do just that.

This infographic, brought to you by Bitcoinfy, holds all the foundational knowledge you can hope to get
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If you’re still worried about how hard it will be for you to understand all of this, have no fear. The way this Bitcoin and blockchain guide is designed makes it easy to absorb all the important facts quickly. So give this infographic a good look. It has everything you need, whether you simply want to be lightly informed about this topic, or you wish to take first steps on the path to Bitcoin and blockchain expertise.

What, for example, do abbreviations like ICO and DAO stand for?
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Tom Atkinson is a Digital Producer & Photographer at R3Digital and Reviews & Dep. Editor at Tech Trends. Connect on LinkedIn and follow him on Twitter @R3Digital

The post Infographic: Everything You Need To Know About Bitcoin appeared first on Tech Trends.

Technology gives everyone the opportunity to trade cryptocurrency online.

When it comes to technology, it can often feel that by the time we hear about something, it’s already too late to get ourselves involved. Indeed, sometimes this can be true. Those who invested early in Bitcoin are now seeing huge payouts, sometimes 1000x what they invested. Whereas to get involved now wouldn’t be nearly as lucrative. But there are some trends in tech that are open at any time for anyone to get involved with. One of these is trading online. While the currencies you may trade and the companies’ stocks may have been around forever, each day is a new day in trading and could be the day that you make a name for yourself as a trader. But how can you be a good trader online at this stage?

Those who invested early in Bitcoin are now seeing huge payouts, sometimes 1000x what they invested. Whereas to get involved now wouldn’t be nearly as lucrative
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Do Your Research

Due diligence is the key to being a good trader. Spending hours poring over trading forecasts and past trading information could help you see patterns and anticipate what comes next. Even when the market throws you a curveball, it’s still better to be prepared to deal with it than to trade blindly. Researching the current climate of economics is also important. You don’t need to know the intricacies of every country’s currency, but you do need to be able to back up decisions you make in your trades. There is no such thing as having too much information when it comes to making trades or investments in general.

When the market throws you a curveball, it's better to be prepared to deal with it than to trade blindly
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Find a Platform

There are plenty of websites for those who are less familiar with trading and want to be guided more at the start. These kinds of platforms allow you to buy stocks and to view trading information, which is critical for embarking on any trade. While the future may be uncertain, we can definitely learn from the past, especially when it comes to seasonal trends in forex and stocks. Using a platform isn’t just for those who are beginning their trading journey as the services they offer are also suitable for more seasoned traders.

While the future may be uncertain, we can definitely learn from the past, especially when it comes to seasonal trends in forex and stocks
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Take a Chance

One of the best lessons you can learn when you begin trading is that sometimes you just have to take a chance. While research is good, focusing too much on what it tells you could lead to paralysis by analysis. The act of trading sometimes comes down to taking risks and hoping they pay off. While it’s important to have a plan in place to see how expensive your risks can be, most great traders will tell you that you can often learn better from mistakes or failures than through success. Indeed, trading is all about making decisions on information, but in the microsecond that the trade is made, the information could be out of date or incorrect. Sometimes just taking the risk and hoping it pays off is the best strategy.

While research is good, focusing too much on what it tells you could lead to paralysis by analysis
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It’s definitely not too late to get into the trend of trading and by doing your research, using the right platform, and being able to take risks, you’ll soon know whether you are cut out for the lifestyle that comes with being a trader.

Tom Atkinson is a Digital Producer & Photographer at R3Digital and Reviews & Dept. Editor at Tech Trends. Connect on LinkedIn and follow him on Twitter @R3Digital

The post Is It Too Late to Get Into Trading? appeared first on Tech Trends.

It has been a hectic year on the emerging crypto markets! This infographic looks back on the roller coaster ride

With any tech, any industry, and any product – there are fluctuations. Whether they’re positive or negative, every market has them. And of course, this can be said for the world of crypto in 2018. It’s been an eventful year in the crypto space. From dramatic price changes, forks and shifting market trends. In 2018, cryptocurrency markets continued to show growth in regions across the globe, showcasing the world’s desire to exercise more control over their finances.

With any tech, any industry, and any product - there are fluctuations. Whether they’re positive or negative, every market has them. And of course, this can be said for the world of crypto in 2018
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Since before the boom of December 2017, the crypto industry broke into the watchful, and sometimes cynical eye of the public. There’s been speculation, regulation changes, social media monitoring, and more in 2018. Here is a summary of some of the biggest crypto landmarks of the past 12 months by Magdalena Gołębiewska, Country Manager at Luno

There’s been Cryptocurrency speculation, regulation changes, social media monitoring, and more in 2018
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The first three months of 2018 are summarized below followed by the infographic for the whole year.

January 2018

The bull market of the holiday season came screaming to a halt as we entered 2018 Bitcoin lost 40% of its value over January.
This decline was due in part to new regulations in South Korea, as well as Facebook announcing they were starting to ban the advertising of cryptocurrencies and crypto exchanges.

February 2018

By February, nearly half of 2017’s ICOs failed to attract funding. Fortune reported that 142 ICOs failed before reaching their target, while another 276 failed after their fundraising ended. While some of these were actual token sales to raise money for would-be start-ups, a good number of these ICOs turned out to be scams, with the founders disappearing with the money raised. It’s always important to make sure you thoroughly research a company, its employees, and founders before deciding to buy their tokens.

March 2018

March brought with it better news for the cryptosphere. The G20’s Financial Stability Board comprising of 68 institutions such as banks and ministries of finance, who then prepare suggestions for global financial systems, stated they don’t believe crypto-assets pose a threat to global markets. The FSB Chairman, Mark Carney, wrote a letter to the G20 Finance Ministers and Central Bank Governors, in which he expresses his concerns about the possible issues that will arise for consumers and investor protection. He noted, however, that the underlying cryptographic and blockchain technology has the potential to improve the inclusiveness of the financial system and the economy. The board delivered varying results for the world of crypto, but overall the sentiment was positive.

Tom Atkinson is a Digital Producer & Photographer at R3Digital and Reviews & Dept. Editor at Tech Trends. Connect on LinkedIn and follow him on Twitter @R3Digital

The post The 2018 Crypto Rollercoaster appeared first on Tech Trends.

A look back at some of the most exciting moments & innovations Tech Trends covered in 2018!

Cryptocurrency

Crypto is crashing – or so the experts say –  but it is not going away, so Tech Trends was excited to welcome on board our very own FinTech wizard Richard Andrews who kicked off his soon to be regular series last month.

Is Cryptocurrency on the verge of going mainstream?

Image by MichaelWuensch from Pixabay

During the bull run of 2017/18, coins could pump 50% on little more than a tweet of a conference announcement or a trivial code release. The principles of decentralisation and innovation were king and governments, financial services and regulation of any kind the public enemy of this bright new decentralised future. But after the parabolic rise of 2017 and the sharp sell-off of 2018 investor sentiment has reversed dramatically in the hope that these same institutions can restore their fortunes.

Hopes of greater institutional participation hinge on the Bitcoin ETF (Exchange Traded Fund) allowing institutional investors to participate in the market without the risks of holding Bitcoin directly
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Hopes of greater institutional participation have largely hinged on the prospect of a Bitcoin ETF (Exchange Traded Fund) which would allow private and institutional investors to participate in the market without the risks of holding Bitcoin directly. A good comparison is the well-established GLD ETF that provides exposure to gold without holding it under the mattress. However, this approach has so far proved disappointing due to rejections and delays by the US Securities and Exchange Committee (SEC). Read his full article here.

Mixed Reality

HoloLens subscription service spurring immersive tech adoption

Since the HoloLens was first released almost three years ago, Microsoft has steadily been building partnerships and demonstrating an array of industry use cases across manufacturing, engineering, healthcare, education and many others.

Rather than place users in a fully computer-generated world, as virtual reality does, HoloLens allows them to put 3D digital models in the room alongside them. As the Windows-10-based product does not have wires or external cameras or require a phone or PC connection, users can walk around the objects they create and interact with them using gestures, gaze and voice. This tends to make it well suited for onsite industrial applications.

While many large companies have adopted mixed reality and HoloLens applications, the $3,000 price tag of the device has been perceived as a barrier for adoption among smaller players
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Yet while many large companies have adopted mixed reality and enthusiastically evangelized about the efficiency gains that they achieved with HoloLens applications, the $3,000 price tag of the device has been perceived as a barrier for adoption among smaller players, who understandably aren’t sure that the ROI would be justified in onboarding the technology at this relatively early stage. Read the full article here.

Health Tech

Epilepsy consortium believes technology could save the NHS £250 million a year

Today, up to one in 100 people in the UK are believed to suffer from epilepsy, leading to three per cent of all Accident and Emergency visits and a total of 1.3 million days in hospital a year. It’s a challenging condition to manage, particularly as existing medication only works for up to 70 per cent of sufferers. Of those who do not respond to medication, most are not suitable for invasive surgery, leaving many to continue to experience unpredictable and potentially life-threatening seizures. New research by Public Health England (PHE) has found a 70% rise in the number of deaths of epilepsy patients between 2001 and 2014. PHE said there was a need to improve the clinical management of patients and make improvements to their wider health by tackling smoking, alcohol intake and poor diet.

The programme provides patients with wearable technology that records vital health data to help clinicians build a tailored record of a patient’s condition and seizure patterns
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This is what myCareCentric Epilepsy consortium – funded by Innovate UK and comprised of Poole Hospital NHS Foundation Trust, the University of Kent, System C & Graphnet Care Alliance and Shearwater Systems – is hoping to do by equipping people with the ability to self-manage their condition. Running on Microsoft’s cloud platform Azure, the programme provides patients with wearable technology that records vital health data to help clinicians build a tailored record of a patient’s condition and seizure patterns. It has the potential to learn to classify seizures; to alert clinicians and carers in real-time so they can consult patients remotely, and provide essential lifestyle recommendations and drug prescriptions. Read the full article here.

A Tragic Loss to Science

Stephen Hawking taught us about about life, the universe, and everything

I once met Professor Stephen Hawking as he was coming out of the elevator at the John Lewis store in Cambridge (UK – The original one), where we both lived at the time. And although I’ll admit this might be far from the most interesting Stephen Hawking story out there, it’s still one of my favourites. Being in his presence was an incredible feeling. I felt ridiculously honoured to have bumped into him in this ordinary shop.

Now, after his death, I feel much the same way about having had the honour of sharing the same time-space with him. In an age of fake news, President Trump and imminent Brexit, he was our steadfast voice of reason. Right to the end, he advocated for the things he felt passionate about, such as defending the National Health Service against the likes of Health Secretary Jeremy Hunt who – with a level of misguided arrogance I can’t begin to comprehend – actually chose to argue with him (with entirely predictable results).

In an age of fake news, President Trump and imminent Brexit, Professor Stephen Hawking was our steadfast voice of reason
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And all this he achieved with wit, wisdom, and a wicked sense of humour, which endeared him to millions around the world. When combined with the inspiring way in which he defied an illness that should have killed him and transcended the disability which left him only able to move a few muscles on his face, he is indeed a formidably inspirational figure. Read the full article here.

Virtual Reality

PokerStars brings online poker to a truly immersive social VR experience

Tech Extremes

Ninja tech skills can come in handy even onboard an Antarctic research ship

A research trip around the Antarctic gave a Software Engineer Carles Pina i Estany a new perspective on how the very product he helped build was being used by scientists. Aboard a research vessel thousands of miles from shore and the nearest reliable Internet connection, these modern explorers routinely relied on Mendeley to do their work, even in subzero temperatures.

A research trip around the Antarctic gave a Software Engineer Carles Pina i Estany a new perspective on how the very product he helped build was being used by scientists
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The opportunity to take part in this unique expedition came when Carles’ partner, Jen Thomas, was invited to become Data Manager on a research trip led by the newly created Swiss Polar Institute, which has a mission to connect researchers active in polar or extreme environments, promotes public awareness of these environments, and facilitates access to research facilities in those extreme environments. As they were short of an IT person and Carles was already on a sabbatical from his work at Elsevier – during which he had already planned to travel around the world – he seized the opportunity to fulfil a longstanding ambition to take part in a polar expedition. Read the full article here.

Ted Talks with Zebra

Accessible design in the age of Industry 4.0

Earlier this month Tech Trends attended our first TEDSalon in New York! Presented by Zebra Technologies and TED the session theme was ‘The Next Wave’ and focused on the Fourth Industrial Revolution.

The Fourth Industrial Revolution is bringing a tsunami of change that will dramatically affect how we interact with and adapt to technology. The ways we choose to ride this wave will determine the shape of our future. Will we use this as an opportunity to solve our most pressing issues, or allow it to become a calamity that divides us? Hosted by TED’s Bryn Freedman, five speakers and one performer explored the tools and expertise we’ll harness to build the future

The Fourth Industrial Revolution is bringing a tsunami of change that will dramatically affect how we interact with and adapt to technology
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The evening included fascinating presentations from experts on the woeful state of America’s election systems and how technology can help, and how we need to change the way we learn if AI is part of the process. Zebra’s own design technologist James Morley-Smith took inspiration from how his disabled son Fintan learned piano starting with the black keys (the opposite of the traditional method) to guide his designs. In his work at Zebra, Morley-Smith designs for employees who are often in noisy, poorly lit industrial settings and clad in bulky protective gear. By following the black-keys tactic, he’s factoring in users’ limitations from the get-go, much like the idea of accessible product design championed by Microsoft at this year’s Build Conference. Read the full article here.

Sex Tech

Porn legend Ron Jeremy sees VR as the future of the adult industry 

Every 5 minutes, Pornhub transmits more data than the entire contents of the New York Public library’s 50 million books. Pornhub’s yearly review of trends reveals that in 2017 a total of 3,732 Petabytes of porn data was streamed, which makes for 7,101 GB per minutes and 118 GB per second.

In 2017 a total of 3,732 Petabytes of porn data was streamed, which makes for 7,101 GB per minutes and 118 GB per second
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And a man who significantly contributed to those gigantic volumes of traffic is Ron Jeremy, an AVN Hall of Famer with over 2,000 films under his belt. Jeremy is the Guinness Book of Records holder for Most Appearances in Adult Films and a big believer in VR Porn. So much so that he’s now put his money where his mouth is and launched RonJeremyVR, a premium service hosting VR films directed by the big man himself.

Every 5 minutes, Pornhub transmits more data than the entire contents of the New York Public library’s 50 million books
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So where are we in this new age of online VR thrills? According to the Pornhub Year in Review 2017 report:

“Virtual Reality Porn continues to gain in popularity, moving up 14 spots on the list from 2016. Cheerleaders came back with a bang, moving up 366 slots and into our top 20 searches of the year. VR devices were a popular holiday gift, and it seems that porn was one of the first things people wanted to try out with their new headsets. After the New Year, average daily views remained much higher than the pre-Christmas levels at around half a million per day.”

With the demand for streaming porn continuing to grow, this data suggests that Ron is indeed on to a real winner
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With the demand for streaming porn continuing to grow, this data suggests that Ron is indeed on to a real winner.  Read the full chat with Ron here.

Internet of Things

IoT and the connected home have yet to fulfil their promise

IFA this year was much like previous years, hundreds of companies screaming from the rooftops about minimally iterative products. A few more pixels, a bit bigger screen, a bit faster processor and everything a bit thinner, oh and crap Robots. I love tech and love my gadgets and can geek out with the best of them but I attended IFA this time looking for more meaningful innovation than a bit better camera on an $800 smartphone. I am happy to report that I found it, but not where you might expect.

A decade ago the invention of the smartphone changed our lives but truly new products like this are few and far between, so every year companies try to reinvent what we already have through minor upgrades and tweaks. We are stuck in a loop where the market is slowly evolving but no real innovation is going on, and the largest companies in the world are all guilty of this lack of effort to progress, so we must start looking off the beaten track for those that are truly working to innovate.

The largest companies in the world are all guilty of this lack of effort to progress so we must start looking off the beaten track for innovation
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Thought sustainably producing high-quality, smart and connected home products @Beko can democratise technology
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IoT and the connected home has been much discussed and I have seen some interesting concepts and even a few eyebrow-raising products but it is not yet in our homes, changing the way we live, and judging from the hundreds of pathetic, unimaginative and almost useless ‘innovative IoT products’ on display at IFA 2018, it’s not going to happen any time soon. But Turkish behemoth Beko, makers of reasonably priced kitchen appliances, held a press conference to announce their technology strategy and issued a white paper on the future of technology in the home and impressed me with their assessment of how new, innovative technologies in our kitchens can improve our lives and can do it affordably and in the not-too-distant future. Read the full article here.

Well, it’s been a very exciting year for technology, and we’re off to play with our gadgets, but be sure to check back with us right after Christmas as we boldly go where no one has gone before in 2019…

Merry Christmas from TECH TRENDS!

Tom Atkinson is a Digital Producer & Photographer at R3Digital and Reviews & Dept. Editor at Tech Trends. Connect on LinkedIn and follow him on Twitter @R3Digital

The post A Year in Tech: 2018 Recap appeared first on Tech Trends.

Initial coin offerings, or ICOs for short, are the latest craze in the cryptocurrency world so let’s try to make sense of the current situation surrounding ICOs and their interesting market

One of the most hotly debated (as well as most controversial) aspects of the current cryptocurrency sphere are so-called initial coin offerings, also known simply as ICOs. These forms of digital fundraising employ the use of cryptocurrencies in a way that allows project owners to raise bitcoins or ethers from thousands upon thousands of future users interested in the app being developed.

ICOs employ the use of cryptocurrencies in a way that allows project owners to raise bitcoins or ethers from thousands upon thousands of future users interested in the app being developed
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Unsurprisingly, ICOs have become a popular means of fundraising for startups in recent years. The lack of regulation allowed them to raise money quickly in return for so-called tokens, also described as digital certificates – at least that was the case until recently.

Nowadays, the ICO boom is beginning to stall a bit as a growing number of regulators worldwide turned their attention to ICOs and have decided to come into action. China, which is a country that once led the world in the number of active ICOs, recently decided to ban these fundraising altogether.

China, which is a country that once led the world in the number of active ICOs, recently decided to ban these fundraising altogether.
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In the meantime, US SEC, Singapore, Hong Kong, and Russia followed China’s example to some extent, but – at least for now – they are still not ready to completely ban ICOs. They are, however, diligent in their efforts to heavily regulate them even if that means taking away some of the key elements that made this fundraising principle great in the first place.

This has obviously caused a lot of disruption among the ICO community. Consequently, the number of active projects keeps falling off and the general interest in ICOs keeps plummeting. This is, after all, rather logical – less and less people are encouraged to either invest in or launch an initial coin offering as regulations are stagnating some of the field’s most popular markets.

While many still see the benefits of ICOs, others think it may be time to pull the plug. So who’s right?
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And this is where we find ourselves at this point – while many still see the benefits of ICOs, others think it may be time to pull the plug. So who’s right? Should we already be looking for a new alternative to venture capital?

Here to help you make up your mind is an infographic by BTXchange, created to shed some light on the initial coin offerings. It takes an uncompromising look at ICOs, using layman’s terms to explain both what these kinds of fundraisings are and what they offer to project managers and investors.

Tom Atkinson is a Digital Producer & Photographer at R3Digital and Reviews & Dept. Editor at Tech Trends. Connect on LinkedIn and follow him on Twitter @R3Digital

The post Infographic: ICO Roundup! appeared first on Tech Trends.

Artists and galleries are embracing immersive technology to create an emotional connection to their audiences.

Art has been a relative latecomer to the digital revolution – at least where we’re referring to the traditional/classic end of the spectrum – people are used to associating the value of art to seeing it in person, hence the fact that museums and art galleries still rely on special exhibitions for a large share of their revenue. At the time of the app’s first launch ArtFinder Co-founder Chris Thorpe told the Guardian that “The emphasis on art history and institutes has taken away the visceral, emotional experience of art. That experience and excitement should make you what to know more and deepen your engagement with it.”

Art has been a relative latecomer to the digital revolution
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Artfinder built an IMDB-style searchable digital catalogue with hundreds of thousands of paintings, sculptures, and art-related media. The site also contains essays on artists, artworks and artistic movements, making it a useful (and free) reference resource for art discovery, while social open up new opportunities for enjoying art. It allows you to virtually collect and share your favourite artworks, and as users build up a profile that reflects their particular tastes, the system also generates further recommendations of artists and pieces that they might like.

Artfinder built an IMDB-style searchable digital catalogue with hundreds of thousands of paintings, sculptures, and art-related media
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Thorpe believes this element of recommendations when combined with geo-location, adds a crucial element of serendipity to art discovery and keeps that physical connection to the real world which is so crucial to connecting emotionally with a piece of artwork.

“It means that when you’re in Gateshead, the ArtFinder app can suggest that you go to the Baltic. But on a finer grain, because we know where the pictures are held, we can say the next time you’re at Moma, remember to see Starry Night by Van Gogh.”

Enhanced Experiences

For Artivive CEO Codin Popescu, however the experiential element will always be central to how people enjoy and relate to artworks. The key, he believes, is to use immersive technologies such as Augmented Reality to seamlessly add digital elements to those existing and well-loved experiences, making them richer and more accessible in the process.

They want to become the go-to solution for artists, galleries and creators and change the way art is created and consumed while building a community and movement around augmented reality art.

I met Popescu at the Pioneers conference in Vienna in May, where Artivive had won the “Best Austrian Startup” category in the event’s competition. He told me that although his company was only founded in 2017, it had already accrued over 60,000 downloads, with users spending a collective 1.3 million minutes engaging with art via the app. In the past year alone, over 2000 artists in 65 countries have used the platform, supporting over 100 exhibitions 1.5+ million scans nearly 5k original artworks.

“For an artist to create in augmented reality they previously had to build their own isolated solutions, which required technical skills and resources, but now those artists can take visitors on a journey in time and explain what lies behind, enhance the art with illustrations or show how the artworks were made. For museums, exhibitions, galleries and other art institutions it offers a new and innovative way for the audience to interact with the exhibits.”

They so far worked with many of the top museums in Vienna such as the Belvedere and MAK – The Austrian Museum of Applied Arts / Contemporary Art as well as many international venues. For the Albertina Museum in Vienna they also created digital content for the exhibition “Film Stills” and integrated AR experiences to the permanent collection “Monet to Picasso”

Artivive has worked with many of the top museums in Vienna such as the Belvedere and MAK
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One of the examples in which this has already changed the gallery-visitor’s experience is that instead of the enormous and outdated audio guides upon which galleries have traditionally relied – and which many still cling on to – visitors can now navigate multi-sensory personalized experiences on their own mobile devices.

The fact that in such a short time Artivive boosts a turnover of over €150,000 also shows the monetizing potential for the technology, as does the fact that main platforms are making deliberate moves to supporting the sector. At Google I/O this year one of the most popular demos I went to showcased how ARCore could be used to augment both 2D and 3D artworks.

Artivive has accrued over 60,000 downloads, with users spending a collective 1.3 million minutes engaging with art via the app
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Bridging the Physical and Digital

“Art is at the very top of the luxury pyramid,” says Sebastian Cwilich, co-founder of Artsy, an online platform started in 2012 for learning about and collecting art, which recently launched an AR feature that allows users to  virtually “hang” works from their nearly one million artwork database onto their own walls. In helping buyers visualize the pieces in context they are overcoming one of the key challenges of buying art online—not being able to see the work in person.

Digital natives relate differently to the art market, since technology allows you to source your materials from a practically endless database unrestricted by geographical borders.

This year’s Hiscox Online Art Trade Report revealed that online art market broaden buyer’s interest in cross-collecting, and art buyers are generally turning channel neutral, with mobile commerce gaining traction.

Blockchain-powered platform called Maecenas matches art owners with investors, increasing transparency and reducing costs. Crucially, it democratizes the process by allowing smaller investors to buy a fractional share in pieces valued at $1 million or more.

Digital natives relate differently to the art market
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Whatever combination of technologies proves most disruptive to the entrenched practices of art production and marketing, the art business needs to find ways of engaging the next generation of buyers
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Magnus, the app that bills itself as the “Shazam for art” adds to this transparency-led empowerment by letting users snap a picture of any artwork and instantly find out information such as title, artist name, price and exhibition history. Founded in April 2016 by German entrepreneur Magnus Resch and managed to attract investment from the likes of Leonardo DiCaprio, but it has also faced serious issues as many galleries accused it of essentially stealing their data under false pretenses. This protectionism and grey areas around image usage rights perhaps explains the somewhat slower progress of art-based tech in relation to other creative industries.

The bottom line is that whatever combination of technologies proves most disruptive to the entrenched practices of art production and marketing, the art business needs to find ways of engaging the next generation of buyers. And these are people who must be reached in their own turf – which is bound to be predominantly digital rather than analog.

This article was originally published on Forbes

Augmented Reality Will Reinvent How We Experience Arthttps://t.co/hoKCxQUpNw

— Forbes Tech News (@ForbesTech) June 20, 2018

For companies looking to get into Immersive technologies such as VR/AR/MR/XR our Virtual Reality Consultancy services offer guidance and support on how best to incorporate these into your brand strategy.

Alice Bonasio is a VR and Digital Transformation Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio on Twitter.

The post Experiencing Art With Augmented Reality appeared first on Tech Trends.

Blockchain technology and cryptocurrencies are here to stay, but we’re yet to develop the systems we need to make them work on a global scale.

Blockchain technology will have a world-changing impact, in the same way the Internet did thirty years ago
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Cryptocurrencies have caused a bit of a stir recently but are rapidly recovering from the well-publicised slump early this year. Despite scepticism and some pointed criticisms from central banks and traditional investors, cryptos are attracting serious interest from global financial institutions.

Cryptos are set to continue to be a major disrupting force in the global financial system
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Cryptos are set to continue to be a major disrupting force in the global financial system, so Tech Trends met up with Francisco Portillejo Hoyos for an insider perspective on what to expect next. Hoyos is the CEO of Cryptalgo, a Swiss algotrading and crypto brokerage company, and he helps us make sense of the confusing cryptocurrency landscape and what will be filling our wallets, digital or otherwise, in the future.

While the dollar value of Bitcoin and other coins have depreciated from the January peak, prices have basically returned to their end of 2017 levels. Governments and Regulators are still learning how to best protect investors’ interests and introduce the right trading tools that will breed confidence among traders. Many believe that the leading financial jurisdictions, including the US, UK, South Korea, Japan, and China, will introduce regulatory schemes and frameworks that will remove the uncertainty and will fuel the crypto markets’ growth. He explained.

CEO of Cryptalgo – Francisco Portillejo Hoyos

Elysium Technology Group and Cryptalgo promises a solution to the problems of a fractured crypto market
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A major announcement of a new partnership between leading US innovators in foreign exchange and futures trading solutions, Elysium Technology Group and Cryptalgo promises a solution to the problems of a fractured crypto market and offers a one-stop shop and safe, easy access point into this emerging new world of finance.

Cryptalgo provides financial institutions with a swift entry into cryptocurrencies without the need to invest capital in developing their own secure and efficient platforms. From real-time quotes and aggregated liquidity, to best trade execution and global arbitrage algotrading, we are introducing a best in class, highly secure global cryptocurrency trading platform. All built to the exacting requirements and standards of financial institutions.

The combination of this ecosystem and a regulated environment will turn cryptocurrencies into a mainstream and fast-growing asset class
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Chairman of Elysium Technology Group, Andrew Siciliano also believes now is the time to begin offering crypto investment solutions to their established client base;

“New trading platforms like this promote confidence in these disruptive new markets, he says. “Cryptalgo has the knowhow, experience, and execution platform complementing the Elysium offering. The partnership will deliver a comprehensive, high-end cryptocurrency trading solution for our clients.”

We are witnessing significant investments made by very credible funds and companies into blockchain and crypto companies
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“The combination of this ecosystem and a regulated environment will turn cryptocurrencies into a mainstream and fast-growing asset class,” added Hoyos. “We are witnessing significant investments made by very credible funds and companies into blockchain and crypto companies, and we’re delighted that Elysium, the market leader in FX post-trading platforms, has chosen to partner with Cryptalgo as it looks to extend its offering into cryptocurrency trading.”

Tech Trends predicts we will start seeing more of a trickle-down effect where cryptocurrencies become a more viable option for ordinary people. OK, anyone can technically already buy cryptos such as Bitcoin and Ethereum and spend them at thousands of outlets on the web and even some physical stores, but I don’t think it is rude to say that, right now, only super-geeks and tech enthusiasts have really bought into the system properly. That’s changing fast though, and soon you too might be filling up the tank on Ethereum and grocery shopping with Bitcoin!

Current estimations predict that the value of the entire cryptocurrency market will reach $1 trillion in 2018
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Image by MichaelWuensch from Pixabay

Current estimations predict that the value of the entire cryptocurrency market will reach $1 trillion in 2018, with crypto the fastest growing asset class to date. However, it is a still a bit Wild West out there as Hoyos explained;

Despite the crypto ecosystem evolving at a rapid pace, it is still in its infancy. This nascent market has deep inefficiencies. The market participants are spread across the globe, fragmented, disconnected and lack standardization. If one or more coins emerge both as a reliable store of value (immune to hacking) and an efficient means of exchange (capable of handling very large transaction volumes in a very short time), then the banking sector as we know it will be fundamentally transformed.

In response to that problem, Cryptalgo has developed the ‘Galaxy’, a highly secure global backbone that interconnects with multiple exchanges. It’s an institutional-grade global infrastructure that interconnects with crypto exchanges via a network of global servers that are placed in proximity to the exchanges around the world.

Andrew expanded; Moneymaking opportunities come and go very quickly. We believe this will be the same in cryptocurrency trading. Institutions need trading solutions that they are familiar with; that feature “Best prices” and “Best Execution”. This cannot be achieved without speedy access to the entire global crypto market. Institutions not only need to get the best pricing on very large orders, but they also need methods for preventing market shifts when placing such orders. This means they cannot rely on a quote from a single crypto exchange or an execution of a trade transaction. They require strong compliance standards, stringent cyber-security measures and other high-end tools – all of which Cryptalgo is developing.

Institutions not only need to get the best pricing on very large orders, but methods for preventing market shifts when placing such orders
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Should you consider cryptocurrency as an investment vehicle?

Although there is no certainty about their future prices, cryptocurrencies are a new type of asset. The question is whether you should consider it for inclusion in your investment portfolio.

There are many reasons why Bitcoin may be a good investment. One of them is its deflationary model. Take the US dollar as an example; Its supply increases more and more every year. And although the same might be true of Bitcoin at the moment, there will be less of the cryptocurrency mined every 4 years, and its supply is actually finite – meaning that after all the Bitcoins are mined, the supply will remain fixed forever after.

There are many potential disadvantages to investing in cryptocurrency, the most important one being its volatility. Therefore, if you're looking to dip your toes in, make sure to start small.
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Stabilising and expanding the high-end of the crypto trading should hopefully provide increased stability for the currencies and global markets, nurturing and growing their potential while making them more secure for those using them day-to-day. Hoyos sees huge potential in decentralised crypto and a future where national currencies might disappear altogether.

It is possible that in twenty years’ time, bank accounts will have disappeared because we will be able to store our money in private wallets on the blockchain. Blockchain technology will have a world-changing impact, in the same way the Internet did thirty years ago. We believe that cryptocurrencies will be fully regulated and mainstream. They will be offered by all the financial institutions using their institutional-grade trading and investment tools, featuring tens of thousands of coins and with an aggregated market cap of trillions of dollars.

It is possible that in twenty years’ time, bank accounts will have disappeared because we will be able to store our money in private wallets on the blockchain
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Tom Atkinson is a Digital Producer & Photographer at R3Digital and Reviews & Dept. Editor at Tech Trends. Connect on LinkedIn and follow him on Twitter @R3Digital

The post A Crypto Future appeared first on Tech Trends.

Crypto currencies like Bitcoin and Ethereum continue to soar and interest in blockchain is at an all-time high, but can we regulate this brave new world?

By Alex Larsen CFIRM, Institute of Risk Management (IRM)

According to Reuters: “Japan’s financial regulator said on Friday it had ordered all cyrptocurrency exchanges to submit a report on their system risk management, following the hacking of over half a billion dollars of digital money from Coincheck.”

Crypto currency has been a booming market with increases in some major coins in the high 1000’s of percent over the last year
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Whilst the whole premise of blockchain technology and crypto currencies revolves around it being essentially unhackable, the exchanges that trade these currencies are vulnerable. The introduction of system risk management (which we assume to be risk management of the software/operating systems and servers) checks is a step forward for the cryptocurrency space although it only covers one area of exposure linked to the cryptocurrency market.

History of incidents

Crypto currency has been a booming market with increases in some major coins in the high 1000’s of percent over the last year. This rise, coupled with a lack of regulation, has seen the crypto currency world being hit with a number of negative incidents from Ponzi schemes to fraud, scams and hacking incidents.

Bitconnect, which as of writing of this article, is trading at roughly $8.60, a huge fall from its height of over $300 a month ago, is an example of a potential major Ponzi scheme which has lost $2.4 billion worth of value over 10 days.

Most banks and stock exchanges are required to hold a certain amount in reserves in order to survive any major downturn or crash. This should be the case for crypto currency exchanges too
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The subpoena by US regulators of crypto exchange Bitfinex and its relationship with Tether is another concern to the crypto currency market with many claiming Tether to be a scam. Tethers are tokens backed by US dollar deposits, with each tether always worth one dollar. These tokens should be backed by dollars but thus far the company has yet to provide evidence of its holdings to the public and has not had any successful audits as of yet.

There have also been a large number of Initial Coin Offerings (ICO’s), used to raise money for startups by issuing tokens/coins, which have raised vast sums of money only for the owners to disappear with all the money, whilst others have been less deliberate but have been just as devastating to investors. A cryptocurrency called Tezos, raised $232 million last year, but suffered internal power struggles which has left the project in disarray.

Tethers are tokens backed by US dollar deposits, with each tether always worth one dollar
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This brings us to the current concern in Japan of cyber attacks of exchange platforms. Cyber attacks and hacking attempts of exchanges have been frequent with Bitfinex, coinbase and kraken amongst others having been closed down for days at a time during 2017 due to a number of hacking attempts. It is the successful hacking incidents which are the most worrying however, with successful hacks such as MT Gox, which cost almost 350 million and two attacks on Youbit which led to it’s bankruptcy. The most recent coincheck hacking was worth 500 million, a record, and it is this which has caused Japan to act.

Cyber attacks and hacking attempts of exchanges have been frequent with Bitfinex, coinbase and kraken amongst others having been closed down for days at a time during 2017
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Regulation

Last year, China took a definitive stand on regulation on crypto currencies which sent shockwaves through the market. Some feel it was perhaps heavy handed with ICO’s being banned, bank accounts being frozen, bitcoin miners being kicked out and nationwide banning on the internet of cryptocurrency trading related sites. Others however believe that it has been a positive step, and has encouraged other governments to take regulation seriously and hopefully take a more balanced approach. It certainly isn’t in the interest of governments to stop ICO’s, which provide many positives including innovation, but they should certainly regulate them from a consumer protection, taxation and organised crime standpoint.

Last year, China took a definitive stand on regulation on crypto currencies which sent shockwaves through the market
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Implementing regulation also removes uncertainty for investors as well as the companies who are involved in ICO’s. Uncertainty is the source of many risks and often a negative certainty is better than uncertainty as it allows a focus within set parameters.

It’s important to remember that too little regulation doesn’t offer protection and too much stifles innovation.

How to regulate

There are a number of ways to regulate cryptocurrencies and the following are just some examples:

1)     Framework for ICOs

New ICO’s are currently not subject to much in terms of regulation globally. One of the problems is determining how they should be treated with some being considered securities. As a fund raising vehicle, there could certainly be a framework that lays out key requirements of an ICO such as a company needing to be registered in order to issue a token, transparency in terms of individual members of the registered company as well as perhaps introducing a few requirements that regular IPO’s require such as implementing risk management. Currently in USA, ICOs are expected to adhere to Anti Money Laundering (AML)/Know Your Customer (KYC) practices.

2)     Regulate exchanges

Exchanges, which is where much of the transactions take place in terms of trading coins, is a logical area of focus when it comes to regulations

South Korea’s financial services commission for example, has stated that trading of cryptocurrencies can only occur from real-name bank accounts. This ensures KYC and AML compliance. According to the FSC, the measures outlined were intended to “reduce room for cryptocurrency transactions to be exploited for illegal activities, such as crimes, money laundering and tax evasion,”

Regulators should focus on regulation that encourages transparency and minimises anonymity
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1)     Tax Laws

Clarity needs to be brought into the tax laws in terms of when investors should pay capital gains. The USA has been quite quick to ensure that crypto-to-crypto transactions are now taxable and not just crypto to Fiat currency transactions. This is not the case in the UK however, where things are less clear and will become even more so, once crypto currencies start to introduce dividend like behaviour.

2)     Reserve requirements of exchanges

Most banks and stock exchanges are required to hold a certain amount in reserves in order to survive any major downturn or crash. This should most certainly be the case for crypto currency exchanges too especially considering the volatility which sees crashes of 60% several times a year with some crypto currencies falling 90% before recovering. This is also known in part as systemic risk which could be what the Japanese financial regulator defines as system risk.

3)     System risk management

As we have seen from this Japan story, one way of ensuring more protection and reliability is by ensuring there is regulation around system risk management on exchanges. There should be minimum requirements protecting against hacking, phishing and other cyber related attacks. The requirements could be scaled against value of the exchange, number of users or number of daily transactions.

There are a number of ways to regulate cryptocurrencies
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It’s important to note that much is being done to reduce the risks of hacking incidents such as the concept of a decentralised exchange. This would essentially be a crypto currency exchange on the blockchain, much like the crypto currencies themselves. This would reduce hacking significantly and whilst it is not currently practical, it could be the standard of the future.

Self-Regulation

The Crypto Currency market gets a lot of negative publicity and much of this could be rectified if there was more self-regulation. It would also reduce volatility within the market and bring about positive change. This refers to both exchanges and ICO’s alike.

The Crypto Currency market gets a lot of negative publicity and much of this could be rectified if there was more self-regulation
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The Japan Blockchain Association (JBA) for example has established self-regulation standards which includes the use of cold wallets amongst its 15 crypto exchange members (of which Coincheck was one of them) and are now looking to strengthen the standards further following this recent incident.

Even the most optimistic investor should at least consider that cryptocurrencies are a speculative bubble that could burst
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Risk Management in the Crypto Currency Space

Risk Management, as with all organisation’s, plays a vital role in meeting and exceeding objectives whilst providing resilience and stakeholder confidence. Exchanges and companies that are raising/have raised ICO’s should ensure that Risk Management is part of their business. Identifying risks and opportunities, assessing them and implementing response plans should be standard. Cyber risks, reputational risks, operational risks, system risks and strategic risks should all be considered and prepared for, which would minimise market disruption and reduce the likelihood of financial ruin. At the very least they owe it to the investors who have funded them.

Exchanges and companies that are raising/have raised ICO’s should ensure that Risk Management is part of their business
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For investors, with volatility so high, the rewards are great but so are the risks. Investors should ensure that they only invest what they can afford to lose, do their due diligence on their investments which includes understanding the technology, the team and look for a prototype rather than a wild concept. Additionally, investors should always be on the lookout for phishing scams and suspicious emails.

Finally, even the most optimistic investor should at least consider that cryptocurrencies are a speculative bubble that could burst.

Find out more about IRM’s Strategic Insights into Cyber Risk Course and more here.

The post Expert View: Regulating Crypto Currency Markets appeared first on Tech Trends.

You can now get sexy thrills as you track the progress of your cryptocurrency investment. What a world we live in…

Bitcoin is having a hell of a ride (yes, this post is going to be full of innuendos, get over it) and now adult entertainment webcam platform CamSoda is taking that to a whole new level with the launch of BitCast.

Bitcoin is having a hell of a ride
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This new feature brings an entirely different sort of titillation to investors by pairing an interactive sex toy with the performance of major cryptocurrencies like Bitcoin, Ethereum and Litecoin, increasing and decreasing the frequency of vibration accordingly: If the value of the currency goes up, the vibrating increases; and if the value goes down, the vibrating decreases. In other words, as the value of your investment fluctuates all over the place, so will your… well, you get the gist.

BitCast brings an entirely different sort of titillation to investors by pairing an interactive sex toy with the performance of major cryptocurrencies like Bitcoin, Ethereum and Litecoin
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Since the beginning of the year the aggregate market cap of all cryptocurrencies has increased by more than 3,000%
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2017 has seen the value of cryptocurrency – most notably BitCoin – soaring beyond most people’s wildest expectations. Since the beginning of the year the aggregate market cap of all cryptocurrencies combined has increased by more than 3,000%.

And even though many experts argue this is the biggest bubble of our lifetime – and that’s saying a lot considering all the bubbles we’ve seen – every day more people are lured into getting in on that action.

“What has so many people captivated, aside from the fact that virtual currencies are largely unregulated and fraught with risk, is the daily volatility – the stratospheric price rises followed by meteoric price drops. With people constantly tracking their cryptocurrency investments, we saw an opportunity to offer them simultaneous sexual pleasure derived exclusively from price fluctuations,” says Daryn Parker, VP, CamSoda. “Now, with Bitcast, our fans can hook up their favorite interactive toy and literally get pleasure from their investments. So, essentially, as the price goes up, so too do your orgasms.”

To use the new platform, users simply need to go to BitCast and click on the cryptocurrency icon they want to track, then, click “play” and follow the instructions to sync the interactive sex toys, which include a series of penile, vaginal and anal toys. They can then sit back and enjoy the ROI.

2017 has seen the value of cryptocurrency - most notably BitCoin – soaring beyond most people’s wildest expectations
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Since being founded in 2014 CamSoda made a name for itself in pushing innovative and often tongue-in-cheek tech. It was the first adult entertainment webcam platform leveraging “Mobile-First” and has had many forays into Virtual reality including the CamSoda House, an interactive VR experience that allows users to broadcast live adult entertainment directly to their headsets.

Users can sit back and enjoy the ROI
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This isn’t their first venture in interactive sex toys either. Previously, they launched on-demand marketplaces that offers users a catalog of simulated blowjobs and virtual cunnilingus from renowned webcam models and amateurs, which many dubbed the “iTunes of Blowjobs” and “iTunes of Cunnilingus,” respectively. It remains to be seen whether their foray into the cryptocurrency will prove as popular, but now I really have seen everything.

Alice Bonasio is a VR Consultant and Tech Trends’ Editor in Chief. She also regularly writes for Fast Company, Ars Technica, Quartz, Wired and others. Connect with her on LinkedIn and follow @alicebonasio on Twitter.

The post Does Bitcoin Turn You On? appeared first on Tech Trends.