Despite having been released since the launch of Bitcoin, as we have said on other occasions, the origin of the blockchain is a little older. Of course, the rise of cryptocurrencies has included a revolution in our times, mainly due to the fact of promoting a new form of registration in which there is no need for external ones.

Let's review a little. Commonly, we entrust our money to a bank, which is responsible for saving it and approving and recording the transactions we make with it. Of course, this will be charged commissions, which are usually quite high and, depending on the case, we must wait for some time for the operations to be effective. So that entity, supervised by a government in turn, will keep in its own accounting books a record of all transactions made by its users, and these will only be responsible for carrying them out, paying for said work, trusting the bank and waiting to be processed. We call this centralization.

Blockchain technology, also known as blockchain, works like a digital ledger. When one person transfers money to another, this represents a transaction. The miners of the network group the transactions in blocks, which contain information of the same: date, amount, address of the wallet, among others; but in order to be added to the chain, it is necessary that they be verified. For this, a kind of competition is carried out in which the miners solve a mathematical problem of great complexity, and whoever completes it first will manage to add the block of transactions to the chain and, in addition, obtain a reward for said work.

This is the most fascinating part. Each block that is added to the blockchain has its own hash, a unique identification number that condenses all the information contained in them. In turn, this is linked to the hash of the previous block, and the same does the following, creating an unalterable structure. Why? Well, if someone tried to change the verified data in a certain block, for example, the address of the receiver of a certain transaction, this would change the hash of that block and break the chain.

In this way, we have a network in which not only a high level of security stands out, but the absence of intermediaries to guarantee it. They are the same members of the same who are responsible for updating, through what we know as work tests (PoW) and evidence of participation (PoS). These function as consensus mechanisms that in a certain way allow the community to reach an agreement without the need for a mediator. So, unlike the process to which we are accustomed, the chain of blocks works in a decentralized way.

Now, having raised all this, it is a bit curious to mention that there are three types of blockchain, classified precisely according to the participation in them. In this sense, we can mention: public, private and federated. Given that in other opportunities we have explained the operation of this technology, in this article we will focus on comparing the first two. Let's briefly define each one.

Public blockchain

A public blockchain, also called open, as its name implies, is one in which anyone can join the network and collaborate with the update of the chain. This means that any member of the community in question can review the information contained in the verified blocks and participate in the verification process of the operations without any type of restriction.

Private blockchain

A private blockchain, also known as a closed blockchain, is one that is owned by an individual or institution, which is why it is not allowed for anyone to enter the community and add blocks to the chain. In fact, to be able to join the network, it would be necessary to receive an invitation from the developers of the same.

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The hospital of the Medical University of Taipei, Taiwan, has created a platform for healthcare that uses blockchain technology to maintain, safeguard and facilitate access to medical records of their patients, according to local portal Taipei Times. The initiative, which will be called "Healthcare Blockchain Platform" will also improve patient referral services by being integrated into healthcare networks.

The platform, which involves more than 100 community clinics, was developed in accordance with the policy of the hierarchical medical system requested by the government. By using the platform, patients can access more easily and securely all of their records, which include images of medical exams, laboratory results and health exams with the use of a mobile application.

For their part, hospitals will be able to request, authorize and transfer patient data to each other in a much more fluid way using smart contracts. Chang Shy-shin, head of the Department of Preventive and Community Medicine, says that the traditional way of referring patients to other doctors is through counters where a nurse assists them, but now the process is channeled with the application.

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The multinational and service bank 'Standard Chartered' (SC) recently revealed its plans to develop a blockchain project for bank guarantees, using the 'R3 Corda' platform. The project was carried out in partnership with the Siemens Company and with the TradeIX platform, which started the pilot in March and intends to complete it by the end of 2018.

Defective success, the new development allowed "digitize exchanges, take advantage of data in real time, as well as transform the way traditional exchanges are made," said the head of product exchange, Samuel Mathew. It should be noted that bank guarantees require a high consumption of resources and paperwork, therefore ledger technology will distribute the practice of reducing costs and manufacturing processes at your fingertips, to the management of the guarantee of claims or requests”

According to the CEO of the TradeIX partner, Rob Barnes:

We believe that world trade is in the dimension of digital transformation that will revolutionize the whole traditional commercial and operational model with which we have been developing in recent years.

This release also marks one more point of implementation of the R3 Corda blockchain platform, which has been adopted by the Thai bank in an effort to support the creation of its own virtual currency.

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On Tuesday morning, the founding team behind the TMON startup revealed that it would have raised more than 32 million dollars to develop a stablecoin called Terra, which in addition to providing the already known advantages of the stablecoins, would come with a user base already established.

Created by the entrepreneur Danial Shin, founder of TMON; one of the most important e-commerce sites in South Korea, the Terra project is launching with several important alliances with companies with more than 40 million consumers. These partners, who will form the Terra Aliance - a group of e-commerce websites interested in incorporating the sablecoin into their businesses - include Qoo10, Caroussell, Woowa Brothers, TIKI and Pomelo.

Thus, according to a project spokesperson, these companies together would generate more than $ 2.5 billion in sales. "We have joined these Asian sales platforms that are not called Alibaba or Amazon to bring Terra into the hands of many people," said Shin.

It is not a surprise that this consortium includes several cryptocurrency investors, such as Arrington XRP, Hashed, 1kx, FBG Capital, Polychain Capital, Kenetic Capital and Binance, the most important Exchange in the world.

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The Central Bank of Thailand (BOT) will issue its own digital currency in conjunction with several local financial institutions. Recognizing the great impact that technological changes have on global financial services, this entity announced that it works in collaboration with the largest banks in the country in a project that offers a digital solution for the Thai financial sector.

Following the implementation of the nation's first cryptocurrency regulation, the Bank of Thailand initiated the Inthanon Project with R3 as a technology partner, in addition to 8 financial institutions.

As mentioned in the press release, these institutions at Bank of Ayudhya Public Company Limited, Bangkok Bank Public Company Limited, Siam Commercial Bank Public Company Limited, Standard Chartered Bank (Thai) Public Company Limited, Kasikornbank Public Company Limited, Thanachart Bank Public Company Limited, Krung Thai Bank Public Company Limited and The Hongkong and Shanghai Banking Corporation Limited

According to the Bangkok Post, in addition to this project, the Bank of Thailand is also developing a blockchain proof of concept for "sales of government savings bonds to increase operational efficiency".

In June of this year, the president of this institution revealed the concept, said he sought to explore the potential of technology to chain to facilitate international and inter-bank transactions.

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The news portal Hard Fork reported today on the cancellation of the Initial Currency Offer (ICO) of the Indiegogo platform, since its intermediation partner, MicroVentures, informed the participants who financed the initiative that they will not receive tokens, but rather a refund of your money. Hard Fork learned of the cancellation after receiving the official email sent by MicroVentures.

The email, which was sent in July, indicates that MicroVentures, a commercial partner of Indiegogo and in charge of the management of the ICO, thanks the participants of the Fan Controlled Football League (FCPL) pre-sale, but recognizes that the environment of Cryptocurrency regulations have been changing rapidly. That is why they have decided to cancel the ICO and return the capital to investors.
 
FCPL is a proposal within Indiegogo that seeks to raise up to USD $ 5 million to build a football league, where the company promised to distribute tokens to its investors. The distribution of these tokens was to be supervised by MicroVentures but these indicate that the US Securities and Exchange Commission (SEC) has not provided a formal guide or legal framework on how to conduct an ICO.

MicroVentures assures that they were waiting for the ICO to end while they followed the current regulations and then distribute the money to the company in charge of FCFL. Although they consider that everything they had done so far was in accordance with SEC laws, they can’t foresee new regulations and therefore decided to begin the return process by contacting the actors involved.

The association of Indiegogo and MicroVentures began last December when they decided to take the FCFL project to establish a financing program through ICOs in order to expand crowdsourcing financing methods. Until the cancellation, the project had exceeded its initial goal, reaching USD $ 5.2 million in Bitcoin (BTC), Ether (ETH) and fiat currencies.

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The news portal Bloomberg, today echoed a report by Sandford C. Bernstein where he questioned the true financial liquidity of the Bitmain company and notes with concern the sudden changes in the strategy, in addition to the competition is stronger in the future Despite the pessimism, it is estimated that Bitmain owns 85% of the market for cryptocurrency mining equipment.



The report was led by analyst Mark Li of Sanford C. Bernstein & Co., a company that manages private property investments, where he analyzes the movements that have been made by the Bitmain blog in view of his upcoming initial public offering (IPO) where They hope to raise USD $ 3 billion. Considering the company's technological advantages over its rivals, Canaan Inc. and Ebang International Holdings Inc. were becoming smaller.



The findings can be very encouraging as the report advises the main product of the chips designed by Bitmain, Taiwan Semiconductor Manufacturing Co., to request full prepayments and to refrain from having a commercial strategy focused solely on cryptomería. In this sense, the CEO and co-founder of Bitmain, Jihan Wu, said that, in the next five years, up to 40% of the profits could be the future of the future sale of Artificial Intelligence (AI) tokens.



It is noteworthy that the Bitmain company, based in Beijing, is one of the most profitable profitable in the world and it is estimated that its profits in the first quarter of 2018 were USD $ 1.1 million. The majority of these profits were obtained from the sale of crypto equipment, but they also received income for charging the fees for the management of the equipment, fees for the lease of power by mining through cloud services and the property itself. Minar digital currency they make.



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