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Why Blockchain is Hard

Why Blockchain is Hard

Jimmy Song Bitcoin Educator, Developer and Entrepreneur/PGP Fingerprint: C1D7 97BE 7D10 5291 228C D70C

https://medium.com/@jimmysong/why-blockchain-is-hard-60416ea4c5c

What is a blockchain?

The main thing distinguishing a blockchain from a normal database is that there are specific rules about how to put data into the database. That is, it cannot conflict with some other data that’s already in the database (consistent), it’s append-only (immutable), and the data itself is locked to an owner (ownable), it’s replicable and available. Finally, everyone agrees on what the state of the things in the database are (canonical) without a central party (decentralized).

It is this last point that really is the holy grail of blockchain. Decentralization is very attractive because it implies there is no single point of failure.

The Cost of Blockchains

  • Development is stricter and slower
  • Incentive structures are difficult to design
  • Maintenance is very costly
  • Users are sovereign
  • All upgrades are voluntary
  • Scaling is really hard

Centralization is a lot easier

Like it or not, the word “blockchain” has taken on a life of its own. Very few people actually understand what it is, but want to appear hip so use these words as a way to sound more intelligent. Just like “cloud” means someone else’s computer and “AI” means a tweaked algorithm, “blockchain” in this context means a slow, expensive database.“blockchain” is really just a way to get rid of the heavy apparatus of government regulation. This is overselling what blockchain can do. Blockchain doesn’t magically take away human conflict.

So what is blockchain good for?

Most industries require new features or upgrades and the freedom to change and expand as necessary. Given that blockchains are hard to upgrade, hard to change and hard to scale, most industries don’t have much use for a blockchain. a lot of companies looking to use the blockchain are not really wanting a blockchain at all, but rather IT upgrades to their particular industry. This is all well and good, but using the word “blockchain” to get there is dishonest and overselling its capability.

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more on blockchain in this IMS blgo
http://blog.stcloudstate.edu/ims?s=blockchain

blockchain and refugees

blockchain for refugees

As Norwegian Refugee Council research found, 70 percent of Syrian refugees lack basic identification and documents showing ownership of property.

The global passport

Host nations certainly has a share in the damage, as they face problems concerning the accessibility of vital information about the newcomers — dealing with the undocumented refugee, the immigration service can’t gain the information about his/her health status, family ties or criminal record, or verify any other vital data that helps them make a decision. Needless to say, this may lead to the designation of refugee status being exploited by economic migrants, fugitives or even the war criminals that caused the mass displacement to begin with.

Another important issue is data security. Refugees’ personal identities are carefully re-established with the support of clever biometric systems set up by the U.N. Agency for Refugees (UNHCR). UNHCR registers millions of refugees and maintains those records in a database. But the evidence suggests that centralized systems like this could be prone to attacks. As a report on UNCHR’s site notes, Aadhaar — India’s massive biometric database and the largest national database of people in the world — has suffered serious breaches, and last year, allegations were made that access was for sale on the internet for as little as $8

Finland, a country with a population of 5.5 million, cannot boast huge numbers of refugees. For 2018, it set a quota of 750 people, mainly flying from Syria and the Democratic Republic of Congo. That’s way less than neighboring Sweden, which promised to take in 3,400. Nevertheless, the country sets a global example of the use of effective technology in immigration policy: It’s using blockchain to help the newcomers get on their feet faster.

The system, developed by the Helsinki-based startup MONI, maintains a full analogue of a bank account for every one of its participants.

Speaking at the World Economic Forum in Davos in January 2018, the billionaire investor and philanthropist George Soros revealed that his structures already use a blockchain in immigration policies

In 2017, Accenture and Microsoft Corp. teamed up to build a digital ID network using blockchain technology, as part of a U.N.-supported project to provide legal identification to 1.1 billion people worldwide with no official documents.

a Memorandum of Understanding (MOU) with blockchain platform IOTA to explore how the technology could increase efficiency.

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more on blockchain in this IMS blog
http://blog.stcloudstate.edu/ims?s=blockchain

Encyclopedia of Criminal Activities and the Deep Web

>>>>>>> Publishing Opportunity <<<<<<<<<<<<<<

Encyclopedia of Criminal Activities and the Deep Web

Countries all over the world are seeing significant increases in criminal activity through the use of technological tools. Such crimes as identity theft, cyberattacks, drug trafficking, and human trafficking are conducted through the deep and dark web, while social media is utilized by murderers, sex offenders, and pedophiles to elicit information and contact their victims. As criminals continue to harness technology to their advantage, law enforcement and government officials are left to devise alternative strategies to learn more about all aspects of these modern criminal patterns and behavior, to preserve the safety of society, and to ensure that proper justice is served. Regrettably, the lack of adequate research findings on these modern criminal activities is limiting everyone’s abilities to devise effective strategies and programs to combat these modern technology-related criminal activities.

In an effort to compile the most current research on this topic, a new major reference work titled Encyclopedia of Criminal Activities and the Deep Web is currently being developed. This comprehensive Encyclopedia is projected to encompass expert insights about the nature of these criminal activities, how they are conducted, and societal and technological limitations. It will also explore new methods and processes for monitoring and regulating the use of these tools, such as social media, online forums, and online ads, as well as hidden areas of the internet including the deep and dark web. Additionally, this Encyclopedia seeks to offer strategies for predicting and preventing criminals from using technology as a means to track, stalk, and lure their victims.

You are cordially invited to share your research to be featured in this Encyclopedia by submitting a chapter proposal/abstract using the link on the formal call for papers page here. If your chapter proposal is accepted, guidelines for preparing your full chapter submission (which should be between 5,000-7,500 total words in length) can be accessed at: http://www.igi-global.com/publish/contributor-resources/ (under the “For Authors” heading – “Encyclopedia Chapter Organization and Formatting”).

Recommended topics for papers include, but are not limited to:

  • Bitcoin and Crime
  • Botnets and Crime
  • Child Exploitation
  • Contract Killing
  • Criminology
  • Cryptocurrency
  • Cyber Espionage
  • Cyber Stalking
  • Cybercrime
  • Cybercriminals
  • Cybersecurity Legislation
  • Cyberterrorism Fraud
  • Dark Web
  • Dark Web Vendors
  • Darknets
  • Data Privacy
  • Dating Websites and Crime
  • Deep Web
  • Drug Trafficking
  • E-Banking Fraud
  • Email Scams
  • Fraud and Internet
  • Gaming and Crime
  • Government Regulations of the Dark Web
  • Hacking and Crime
  • Hacktivism
  • Human Trafficking
  • Identity Theft
  • International Regulations of the Dark Web
  • Internet Privacy
  • Internet Regulations
  • Internet Safety & Crime
  • Online Advertisement Websites and Crime
  • Online Blackmail
  • Online Forums and Crime
  • Online Hate Crimes
  • Online Predators
  • Online Privacy
  • Social Media Deception
  • Social Networking Traps
  • Undercover Dark Web Busts
  • Undercover Operations
  • Vigilante Justice
  • Virtual Currencies & Crime
  • Whistleblowing

IMPORTANT DATES: Chapter Proposal Submission Deadline: October 15, 2018; Full Chapters Due: December 15, 2018

Note: There are no publication fees, however, contributors will be requested to provide a courtesy to their fellow colleagues by serving as a peer reviewer for this project for at least 2-3 articles. This will ensure the highest level of integrity and quality for the publication. 

Should you have any questions regarding this publication, or this invitation, please do not hesitate to contact: EncyclopediaCADW@igi-global.com

Mehdi Khosrow-Pour, DBA
Editor-in-Chief
Encyclopedia of Criminal Activities and the Deep Web
EncyclopediaCADW@igi-global.com

Data Privacy Lessons in Alternative Reality Games

How Data Privacy Lessons in Alternative Reality Games Can Help Kids In Real Life

https://www.kqed.org/mindshift/51772/how-data-privacy-lessons-in-alternative-reality-games-can-help-kids-in-real-life

Ubiquitous social media platforms—including Facebook, Twitter and Instagram—have created a venue for people to share and connect with others. We use these services by clicking “I Agree” on Terms of Service screens, trading off some of our private and personal data for seemingly free services. While these services say data collection helps create a better user experience, that data is also potentially exploitable.

The news about how third parties obtain and use Facebook users’ data to wage political campaigns and the mounting evidence of election interference have shined a spotlight on just how secure our data is when we share online. Educating youth about data security can fall under the larger umbrella of digital citizenship, such as social media uses and misuses and learning how not to embarrass or endanger oneself while using the internet.

Darvasi’s students in Toronto can pool together 55 faux bitcoins to purchase and launch the BOTTING protocol against an opponent. The student targeted at Fallon’s school in Connecticut would then have 48 hours to record audio of 10 words of Darvasi’s students choosing and send it back to them through an intermediary (Darvasi or Fallon). For a higher price of 65 faux bitcoins, students can launch MORPHLING, which would give the opponent 48 hours to record a one-minute video explaining three ways to stay safe while using Facebook, while making their school mascot (or a close approximation of) appear in the video in some way during the entire minute.

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more on digital citizenship in this IMS blog
http://blog.stcloudstate.edu/ims?s=digital+citizenship

starter platform for blockchain developers

IBM has been focused on bringing the blockchain to enterprises for years. Earlier this year, the company announced IBM Blockchain Starter Services, Blockchain Acceleration Services and Blockchain Innovation Services.
According to the company, the Blockchain Platform was initially built for institutions working collectively towards mission-critical business goals
Other features include: access to IBM Blockchain Platform Enterprise Plan capabilities, code samples available on GitHub, and Hyperledger Composer open-source technology.

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more on blockchain platforms in this IMS blog
http://blog.stcloudstate.edu/ims?s=blockchain+platforms

Blockchain Platforms 2018

A Comprehensive List of Best Blockchain Platforms To Watch Out in 2018

https://medium.com/@anubhav.2709/a-comprehensive-list-of-best-blockchain-platforms-to-watch-out-in-2018-a4a14ee0c166

http://blockchain.oodles.io/blogs/best-blockchain-platforms-2018/

A Comprehensive List of Best Blockchain Platforms To Watch Out in 2018 from TechNewsToday

Best Blockchain Platforms 2018

1. Ethereum

Founded in 2014 by Vitalik Buterin, Gavin Wood, and Jeffery Wilcke, Ethereum is one of the fastest growing blockchain technology-based platforms and a cryptocurrency like bitcoin.

 

2. Ripple

Ripple was developed in 2012. Currently, the cryptocurrency that represents Ripple blockchain, XRP, is one the high performing cryptocurrencies in the crypto world.

3. Hyperledger

Based on the blockchain technology, Hyperledger offers distributed ledger frameworks to a variety of industry leaders in the fields of banking, finance, Internet of Things, supply chains, manufacturing, and technology.

 

4. IBM Bluemix Blockchain:

Developed using the base of Hyperledger, IBM Bluemix offers transparency in transactions and security in information for enterprises. At present, IBM Bluemix runs on the IBM cloud.

 

5. Multichain

Multichain is one of the best Blockchain platforms that enables the creation and execution of private blockchains. This multi-asset exchange is becoming popular for solving real problems in finance, infrastructure, and e-commerce.

 

6. Openchain: 

Developed by Coinprism, Open-chain is a Blockchain infrastructure that’s used for the perseverance and management of digital assets.  Open-chain is an enterprise-ready platform for digital assets. Its approach is different than the standard Bitcoin approach to implementing Blockchain.

Conclusion: 

With the above-mentioned blockchain platforms, you can get unprecedented services for the security of digital transactions and assets. The blockchain technology provides independent and secure work structure and is a reliable solution that can be utilized to streamline an organization’s processes and transfer of assets without getting into any extensive documentation or periodical controls.

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more on blockchain in this IMS blog
http://blog.stcloudstate.edu/ims?s=blockchain

cryptocurrency miners

Cryptocurrency Miners Make Big Promises In Small Towns

https://www.npr.org/2018/05/28/609790069/cryptocurrency-miners-make-big-promises-in-small-towns

According to the Digiconomist blog that follows cryptocurrencies, all the Bitcoin mining computers worldwide consume more power collectively than the entire nation of Czech Republic.

When the value of a traded Bitcoin soared to almost $20,000 late last year, a Bitcoin mining rush hit lots of places with cheap power, from Louisiana to Washington State.

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https://news.bitcoin.com/georgia-has-become-eurasias-cryptocurrency-mining-epicenter/

http://blog.stcloudstate.edu/ims/2018/04/23/bitcoin-georgia/

blockchain fixes

187 Things the Blockchain Is Supposed to Fix

Erin Griffith 

https://www-wired-com.cdn.ampproject.org/c/s/www.wired.com/story/187-things-the-blockchain-is-supposed-to-fix/amp
 
Blockchains, which use advanced cryptography to store information across networks of computers, could eliminate the need for trusted third parties, like banks, in transactions, legal agreements, and other contracts. The most ardent blockchain-heads believe it has the power to reshape the global financial system, and possibly even the internet as we know it.
 
Now, as the technology expands from a fringe hacker toy to legitimate business applications, opportunists have flooded the field. Some of the seekers are mercenaries pitching shady or fraudulent tokens, others are businesses looking to cash in on a hot trend, and still others are true believers in the revolutionary and disruptive powers of distributed networks.
 
Mentions of blockchains and digital currencies on corporate earnings calls doubled in 2017 over the year prior, according to Fortune. Last week at Consensus, the country’s largest blockchain conference, 100 sponsors, including top corporate consulting firms and law firms, hawked their wares.
 
Here is a noncomprehensive list of the ways blockchain promoters say they will change the world. They run the spectrum from industry-specific (a blockchain project designed to increase blockchain adoption) to global ambitions (fixing the global supply chain’s apparent $9 trillion cash flow issue).
 

Things Blockchain Technology Will Fix

  • Bots with nefarious intent
  • Skynet
  • People not taking their medicine
  • Device storage that could be used for bitcoin mining
  • Insurance bureaucracy
  • Electronic health record accessibility
  • Health record storage security
  • Health record portability
  • Marine insurance risk
  • Cancer
  • Earning money on personal data
  • Pensions
  • The burden of car ownership
  • Inability to buy anything with cryptocurrency
  • Better marketplaces for nautical shipping services
  • Better ways to advertise to your friends
  • Better ways to trade forex with your friends
  • Ownership shares in ancient sunken treasures
  • Poverty
  • Complying with Know Your Customer laws
  • Complying with Anti-Money-Laundering laws
  • Complying with securities laws in token sales
  • Censorship
  • A use for QR codes
  • Rewards for buying alcohol by subscription
  • Tracing water supplies
  • Dearth of emergency responders
  • High cost of medical information
  • Improved digital identity authentication
  • Managing real estate workflow
  • International real estate purchases
  • Physical branches for crypto banking
  • Physical branches for crypto exchanges
  • Private equity
  • Venture capital
  • AIDS, also online sales of classic Japanese domestic cars
  • Efficiency and transparency at nonprofits
  • Incorporating local preferences in decentralized banking options
  • Boosting sales for local businesses
  • A digital-only investment bank
  • Containers to transport sensitive pharmaceuticals and food
  • Protecting consumer information on mobile
  • Helping mobile phone users monetize their data
  • Not enough interconnection in the world
  • Complexity and risk in the crypto market
  • Expensive AI research
  • Counterfeit goods
  • Connecting “innovation players” and “knowledge holders”
  • Movie industry’s slow and opaque accounting practices
  • Global supply chain’s $9 trillion cash flow issue
  • Trust in the global supply chain
  • Economic crisis
  • Cash flow problems at small and medium-sized businesses
  • Improving the use of data in the transportation and logistics industries
  • Poverty among African farmers
  • Transparency in the food supply chain
  • Ad fraud
  • Fake news
  • False news
  • Settling payments faster
  • Speeding transactions
  • The unbanked
  • The underbanked
  • The bidding process in art and collectibles markets
  • Assessing the value of collectibles
  • Diamond industry’s high banking and forex fees
  • The illicit diamond trade
  • Availability of digital games
  • Currency for eSports
  • Currency for eSports betting
  • Currency for sports betting
  • Storing scholarly articles
  • Health insurance providers billing processes
  • Currency for healthcare providers
  • Shortage of workers with advanced tech skills
  • Lack of diversity in tech
  • Elder care
  • Rights management for photographers
  • Content rights management
  • Simplifying the logo copyrighting process
  • Ticketing industry’s “prevalent issues”
  • Crowdsourcing for legal dispute resolution
  • Securing financial contracts
  • Paper
  • Automation
  • Control of personal data
  • Control of personal credit data
  • No way to spend crypto
  • Advertising for extended reality environments
  • Human suffering
  • Security for luxury watches
  • Authenticity in cannabis sales
  • Crypto rewards for cannabis-focused social media site
  • Crypto payments for rating cryptoassets
  • Crypto payments for taking surveys, watching videos and clicking links
  • Crypto rewards for video game skills
  • Crypto rewards for time spent playing video games
  • Buying, selling and trading your social media friends
  • Crypto rewards for social media sharing
  • Free mobile data for watching ads
  • Crypto rewards for watching entertainment content
  • Gold-backed cryptocurrency
  • Crypto-backed gold
  • Metals-backed cryptocurrency
  • Precious metals-based cryptocurrency
  • “Tokenizing” real world items
  • Nashville apartment buildings
  • Monaco real estate
  • Financial infrastructure for trading within video games
  • Checking ID for purchases like alcohol
  • “Uber for alcohol” on blockchain
  • Inefficiencies in cargo delivery
  • Branded tokens for merchants to reward customers
  • Fraud and corruption among non-profits
  • Better transparency at non-profits
  • Better transparency around impact investing
  • Bitcoin mining uses too much energy
  • Home appliances mining for bitcoin while not in use
  • Bitcoin mining using hydropower
  • Large corporations’ carbon footprints
  • “Decarbonizing” electricity grids
  • Climate change
  • Trust in governments
  • Trust in corporations
  • Trust in social networks
  • Trust in media
  • Universal billing system for travel industry
  • Decentralized Uber and Lyft
  • Online gambling not fair
  • Online gambling sites take commission
  • Helping retailers hurt by Amazon
  • Online retail fraud
  • Paying for things with your face
  • Streamlining interactions among shoppers, retailers and brands
  • Linking content across computers, tablets and phones
  • Ranking apps by their value
  • Aligning creativity and recognition for content creators
  • Improving payments for artists on Spotify and Pandora
  • Online piracy
  • Improving the technology of the Russian gas industry
  • A blockchain equivalent of Amazon, Groupon and Craigslist
  • Too many non-value-added costs
  • Unregulated prison economies
  • Standardizing the value of advertisements
  • Advertising not transparent enough
  • Old real estate practices
  • Free public information from silos
  • Speeding the rendering of animated movies
  • Selling items for crypto instead of regular money
  • Borders
  • Man-in-the-middle hacks
  • Security sacrifices that come with innovation
  • Scams, fraud and counterfeits
  • Tools to build decentralized apps
  • Blockchain infrastructure
  • Removing barriers separating blockchains
  • Safety in buying and selling blockchain tokens
  • Improving privacy in online file storage
  • ICO projects could benefit from the “wisdom of the crowd”
  • Improving privacy of blockchain
  • Decentralized database for decentralized technologies
  • Improving trust and confidence in blockchain system
  • More cohesive user experiences across blockchain and the cloud
  • Democratizing gold trading
  • Giving investors more control of their assets
  • Simplifying the cryptocurrency transaction process
  • Trading indexes as tokens
  • Improving crypto safekeeping solutions
  • Simplifying ICO investment, trading and cryptocurrency
  • Improving institutional-grade crypto asset management
  • “Painstakingly slow” manual crypto wallet process
  • More open global markets
  • Easier way to invest in real estate
  • Easier way to invest in Swiss real estate
  • Easier way to combine smart contracts with crowdfunded home loans
  • Easier way to borrow against crypto holdings
  • Faster porn industry payment options
  • Lower porn industry payment fees
  • Identifying and verifying users in online dating
  • Improving traditional banking services for crypto world
  • Cryptocurrency based on Game Theory, IBM’s Watson, and other theories
  • Better social network + blockchain + AI + human touch
  • Improving content streaming on the blockchain
  • Supply chain transparency
  • Increasing public sector trust of cryptocurrencies
  • Education around blockchain technology
  • Blockchain not mainstream enough
 
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more on blockchain in this IMS blog
http://blog.stcloudstate.edu/ims?s=blockchain

AI and China education

China’s children are its secret weapon in the global AI arms race

China wants to be the world leader in artificial intelligence by 2030. To get there, it’s reinventing the way children are taught

despite China’s many technological advances, in this new cyberspace race, the West had the lead.

Xi knew he had to act. Within twelve months he revealed his plan to make China a science and technology superpower. By 2030 the country would lead the world in AI, with a sector worth $150 billion. How? By teaching a generation of young Chinese to be the best computer scientists in the world.

Today, the US tech sector has its pick of the finest minds from across the world, importing top talent from other countries – including from China. Over half of Bay Area workers are highly-skilled immigrants. But with the growth of economies worldwide and a Presidential administration hell-bent on restricting visas, it’s unclear that approach can last.

In the UK the situation is even worse. Here, the government predicts there’ll be a shortfall of three million employees for high-skilled jobs by 2022 – even before you factor in the immigration crunch of Brexit. By contrast, China is plotting a homegrown strategy of local and national talent development programs. It may prove a masterstroke.

In 2013 the city’s teenagers gained global renown when they topped the charts in the PISA tests administered every three years by the OECD to see which country’s kids are the smartest in the world. Aged 15, Shanghai students were on average three full years ahead of their counterparts in the UK or US in maths and one-and-a-half years ahead in science.

Teachers, too, were expected to be learners. Unlike in the UK, where, when I began to teach a decade ago, you might be working on full-stops with eleven-year-olds then taking eighteen-year-olds through the finer points of poetry, teachers in Shanghai specialised not only in a subject area, but also an age-group.

Shanghai’s success owed a lot to Confucian tradition, but it fitted precisely the best contemporary understanding of how expertise is developed. In his book Why Don’t Kids Like School? cognitive Dan Willingham explains that complex mental skills like creativity and critical thinking depend on our first having mastered the simple stuff. Memorisation and repetition of the basics serve to lay down the neural architecture that creates automaticity of thought, ultimately freeing up space in our working memory to think big.

Seung-bin Lee, a seventeen-year-old high school graduate, told me of studying fourteen hours a day, seven days a week, for the three years leading up to the Suneung, the fearsome SAT exam taken by all Korean school leavers on a single Thursday each November, for which all flights are grounded so as not to break students’ concentration during the 45 minutes of the English listening paper.
Korea’s childhoods were being lost to a relentless regime of studying, crushed in a top-down system that saw them as cyphers rather than kids.

A decade ago, we consoled ourselves that although kids in China and Korea worked harder and did better on tests than ours, it didn’t matter. They were compliant, unthinking drones, lacking the creativity, critical thinking or entrepreneurialism needed to succeed in the world. No longer. Though there are still issues with Chinese education – urban centres like Shanghai and Hong Kong are positive outliers – the country knows something that we once did: education is the one investment on which a return is guaranteed. China is on course to becoming the first education superpower.

Troublingly, where education in the UK and US has been defined by creativity and independent thinking – Shanghai teachers told me of visits to our schools to learn about these qualities – our direction of travel is now away from those strengths and towards exams and standardisation, with school-readiness tests in the pipeline and UK schools minister Nick Gibb suggesting kids can beat exam stress by sitting more of them. Centres of excellence remain, but increasingly, it feels, we’re putting our children at risk of losing out to the robots, while China is building on its strong foundations to ask how its young people can be high-tech pioneers. They’re thinking big – we’re thinking of test scores.

soon “digital information processing” would be included as a core subject on China’s national graduation exam – the Gaokao – and pictured classrooms in which students would learn in cross-disciplinary fashion, designing mobile phones for example, in order to develop design, engineering and computing skills. Focusing on teaching kids to code was short-sighted, he explained. “We still regard it as a language between human and computer.” (My note: they are practically implementing the Finland’s attempt to rebuild curricula)

“If your plan is for one year,” went an old Chinese saying, “plant rice. If your plan is for ten years, plant trees. If your plan is for 100 years, educate children.” Two and half thousand years later chancellor Gwan Zhong might update his proverb, swapping rice for bitcoin and trees for artificial intelligence, but I’m sure he’d stand by his final point.

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more on AR in this IMS blog
http://blog.stcloudstate.edu/ims?s=artificial+intelligence

more on China education in this IMS blog
http://blog.stcloudstate.edu/ims/2018/01/06/chinas-transformation-of-higher-education/

4 types of blockchain networks

http://spr.ly/6003D3fQL

Consortium blockchains

In a consortium blockchain, the consensus process is controlled by a pre-selected group – a group of corporations, for example. The right to read the blockchain and submit transactions to it may be public or restricted to participants. Consortium blockchains are considered to be “permissioned blockchains” and are best suited for use in business.

Semi-private blockchains

Semi-private blockchains are run by a single company that grants access to any user who satisfies pre-established criteria. Although not truly decentralized, this type of permissioned blockchain is appealing for business-to-business use cases and government applications.

Private blockchains are controlled by a single organization that determines who can read it, submit transactions to it, and participate in the consensus process. Since they are 100% centralized, private blockchains are useful as sandbox environments, but not for actual production.

Public blockchains

Anyone can read a public blockchain, send transactions to it, or participate in the consensus process. They are considered to be “permissionless.” Every transaction is public, and users can remain anonymous. Bitcoin and Ethereum are prominent examples of public blockchains.

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