New And More Efficient ASIC Machine Coming From Bitmain
The Chinese mining giant and ASIC hardware producer, Bitmain has recently announced its next line of 7nm ASIC mining chip.
The new hardware dubbed as BM1397 is designed to mine cryptocurrencies with SHA256 algorithm for Proof-of-Work such as Bitcoin and Bitcoin cash.
With this new design the mining chip has been reported to require less power to operate compared to previous iterations.
The BM1397 has around a 29.6% improvement in power efficiency compared to the previous model, BM1391 which is also uses a 7nm ASIC mining chip.
The new chip will power the new Antminer models S17 and T17 that will be released later this year.
It has been a troublesome 2018 for the mining and manufacturing giant in recent months due to the prevailing bearish market as well as two action classes lawsuits filed against the company.
It has shutdown some of its operations in several territories due to financial difficulties.
With this new release the company is hoping to have a better financial footing this new year.
Wealth Manager Advises Institutions To Invest In Crypto For Long Term
Cambridge Associates, a Boston-based consultancy which advises major institutions who manage more than $300 billion worth of clients’ assets has some interesting advice of its clients.
According to the consultancy firm, it is worthwhile for investors to begin exploring the crypto sector towards the long term despite the obvious high degree of risk, adding that it may upend the digital world.
Cambridge specializes in pensions and endowments, its support for cryptocurrencies seem to be a long time coming.
The firm is basically advising investors to conduct investments in the different aspects of cryptocurrencies such as venture capital investing, tokens trading and other crypto investing activities.
Their advice comes at a time when there had been dramatic decline in market value in most crypto assets.
This resulted many to question the future of these assets as well as the technology that underpins it, blockchain.
However, the firm believes that the space is still developing and with the influx of institutional money into the space is a sure sign of reversal in the future
Japanese Firm Recruit Co. Ltd. Invest In Israel-Based Blockchain Startup Beam
It has been reported that the Japanese employment information services company Recruit Co. Ltd has recently invested in a blockchain-startup based in Israel.
The announcement was made on its website last February 18, 2019.
The name of the startup is Beam Development Limited which is better known as the developer of the Beam Privacy-oriented crypto project.
Recruite was founded in 1960 which does its business by advertising and employing information services company internationally.
The investment was made through Recruit’s RSP Blockhain Tech Fund Pte. Ltd.
The fund is primarily aimed to invest and acquire shares in blockchain and cryptocurrency companies.
The said fund is valued at around $25 million USD.
Beam is a privacy coin which secures transactions by enabling transaction data to be verified by a specified third party.
Using the token, it prevents the divulging transaction data to third parties and protects user’s transaction information.
Beam confirmed the investment of Recruit via a tweet on its official twitter account.
Blockchain Research Center Launched In China
One of the most prestigious universities in mainland China has recently opened a blockchain research center.
Fudan University, one of the country’s most selective higher education institutions started this initiative to promote the development and growth of the blockchain industry in Shanghai.
The project hopes that through the use of the blockchain technology it would be able to help the local economy.
Dubbed as the Shanghai Blockchain Engineering Technology Research Center, it will carry out basic research on blockchain technology. It will provide education to blockchain professional to bolster local talent pool as well as demonstrate the applications of the said technology.
The blockchain research program was made possible with in collaboration with Zhogan Online Property Insurance Co. Ltd and Shanghai Zhongrem information technology Co, ltd.
With this launch Fudan University joins the growing list of universities in China that has embraced blockchain technology and now is finding ways how to leverage the project.
Google Adds Bitcoin Symbol
Google and cryptocurrencies have always had a complicated relationship. Early 2018 the internet giant along with other technology firms has banned cryptocurrency related ads on its platform only to lift it up several months later.
The company has also mocked cryptocurrencies in some of its infomercials hiring comedians to do advertisements to tell viewers that it is not real money.
However its latest move can be seen as a nod of approval from the company.
To keep up-to-date with trending topics and functionality of their products, Google has included the Bitcoin symbol “B” in the layout of their keyboard applications.
Interestingly, this addition was made only with their keyboard for iOS compatible devices only.
It is not clear why the company has gone through the update and no one is really sure what they are trying to do.
Time will tell if the internet giant has finally has a change of heart of the new emerging asset class or just trying to pull off a prank on apple users which is a full month ahead of April fool’s day.
However if this is any indication of the Google warming up to cryptocurrencies we might see a slew of cryptocurrency related updates for its products like chrome crypto wallet extension, android cold wallets or any other products available in the space.
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