NASA is looking for Blockchain Solutions
Written by Andrey of Hackernoon (Posted by SyndicatedNews)
NASA’s interest in blockchain can be traced back to January 2018 when news broke that the agency had awarded the University of Akron $330,000.
The money was to go into researching the potential of blockchain and how this technology could improve space communications.
According to a synopsis of the research, the team was to:
“Employ the blockchain technique to design a secure and decentralized infrastructure for processing the massive data for space exploration and related science.”
Ronald Reisman, the aero-computer engineer, explained the project in a research paper stating that:
“The design innovation is the use of an open-source permissioned blockchain framework to enable aircraft privacy and anonymity while providing a secure and efficient method for communication with Air Traffic Services, Operations Support, or other authorized entities.”
Finally, earlier this September, NASA posted a job opening on Linkedin where they sought a candidate that boasted a wide range of skills. There was special consideration being given to the individual that had experience with cryptocurrencies and the blockchain.
8 Patents Filled By Bankcoin Reserve
So far, Bankcoin Reserve boasts eight patents that were granted to AAA Blockchain Limited and Gary McAlister.
1. Foreign Exchange Innovation
The new foreign exchange is based on the blockchain and makes it possible to transfer funds internationally through a foreign exchange like AMLFX. The funds are transferred and settled locally without having to leave the country of origin.
Imagine a scenario where two friends, Alvin and Kelvin are having a conversation in a café. Kelvin says that he is waiting on $1,000 from Aki in Japan. Coincidentally Alvin tells Kelvin that he intends to send $1,000 to Akio who lives in Japan. On overhearing this conversation, John, who happens to be in the same cafe, suggests that Alvin should transfer the $1,000 to Kelvin. Also, Kelvin should ask Aki to transfer the $1,000 owed to him to Akio.
Therefore, the two transactions are settled without the funds having to leave the country of origin. Fees are still involved; however, they are very low, which acts as an incentive for the banks.
To make this possible banks will need access to a Proof of Stake mechanism that is built on the blockchain. The mechanism acts as a reserve for the banks and keeps the network up and running.
The innovative foreign exchange offers a solution to the above scenario by using algorithms that match up the four parties involved in the equation.
The blockchain sends the value as an asset or message to a payment processor like V2Pay which processes all the requests from the senders and receivers in a specific country and matches them to all senders and receivers in a different country.
2. Franchise Innovation
It’s a blockchain digital mine discovery franchise innovation that makes it possible to discover and develop an unlimited number of master digital mine franchises.
These master digital mine franchises also can discover an unlimited number of sub franchises which in turn can find sub franchises of their own and so forth.
The new mines which are discovered constantly give the “franchise market” liquidity and can be sold, traded or swapped before being availed to the public market through exchanges.
3. Islamic Banking And Sharia Compliant Innovation
It’s an innovation that seeks to use the blockchain technology to eliminate interest from Savings and Deposits. This will be possible by transitioning to using the Islamic Banking Innovation revenue earnings shared model.
The innovation will be compliant with Islamic banking laws by ensuring it has no riba, usury or any other interest component for deposits, savings, finance, ethical loans, stocks, shares, bonds, and private placement programs. It will cater for Banks, other financial institutions, and monetary funds.
This will happen by using digital currencies for savings, deposit taking, escrow, trust, remittance, intermediaries, and safekeeping.
4. Loan And Finance
Banks and other financial institutions can explore this new method to determine what % they would like to earn through the mine/mint process.
5. New Monetary System
Also, the asset can be used to mint/mine transaction fees as opposed to the current system where it requires taxes, fees, or even rates to be paid which act as its form of revenue.
6. Private Placement High Yield Investment
There is an additional mining function that takes place after the initial principle coin has been mined. This leads to the creation of new ethical markets for private placement high yield investment that lasts for 40 weeks per period.
7. Savings and Deposits
In summary, it’s one way for banks and other financial institutions to enter the crypto market, ensuring they benefit from the many advantages it offers without experiencing any high costs or risks.
8. Stock And Bond Management
Investors buy the principle stocks/shares/bonds and proceed to secondary mine them and then sell the new assets on a blockchain exchange.
Disclaimer: I do not have any vested interest in any of the mentioned projects. The views and opinions expressed are those of the author and is not investment advice. Do your research.
Brick-and-mortar businesses accepting Bankcoin Reserve (AUSTRALIA), Bankcoin Global (MEXICO) and sometimes BCR@W (HONG KONG) as well.
Our customer list grows daily…
Jill Egizii, former Mayor of Leland Grove, Illinois accepts BCR for her WILD CANINE RESCUE animal shelter in the UNITED STATES: https://www.snn.bz/news/jill-egizii-endorses-and-accepts-bankcoin-reserve/
Dr. Marsilio, chiropractor accepts BCR in Winter Park, Florida, in the UNITED STATES https://www.snn.bz/fitness/dr-marsilio-accepts-bankcoin-reserve/
Sebow Custom Golf Putters designed for your grip, your height, your swing… accepts BCR INTERNATIONAL
Naowell Abt – Fine Art Photography from Abstract to Nature accepts BCR, lives in FRANCE
Exciting Online game KARAOGAME now accepts BCR and BCG – Game is INTERNATIONAL
Michael Byriel, Residential Realtor AUSTRALIA accepts commissions in BCR: https://www.snn.bz/real-estate/michael-byriel-realtor-accepts-bankcoin-reserve-and-bankcoin-global/
Col. David Brenner (Ret.) Commercial Realtor, Winter Park, Florida, UNITED STATES accepts commissions in BCR: https://cbrenner.com
Pastor Jim Kibler Melbourne, Florida, UNITED STATES accepts BCR: https://www.snn.bz/life-style/pastor-jim-kibler-accepts-bankcoin-reserve-for-donations/
The World Harvest Ministries accepts BCR and BCG INTERNATIONAL: https://www.snn.bz/life-style/world-harvest-ministries-accepts-bankcoin-reserve-and-bankcoin-global/
The BIBLE website ThyWord.Global (INTERNATIONAL) accepts BCR and BCG: https://www.snn.bz/life-style/thy-word-global-accepts-bankcoin-reserve-and-bankcoin-global/
Wyith.EDU online Graduate and Undergraduate Degrees HONG KONG accept BCR, BCG and BCR@W: http://wyith.edu
QuitaSSo is a Picasso Art Lover and Enthusiast. This artist currently lives in MEXICO and accepts 50% cash 50% BCR for artwork: https://www.snn.bz/news/quito-quezada-artist-accepts-bankcoin-reserve-and-bankcoin-global/
Space Coast Business Consultancy accepts BCR UNITED STATES https://e3company.com
Automotive Consultants Car Dealership in AUSTRALIA accept down payments in BCR and BCG: https://www.snn.bz/business/automotive-consultants-accepts-bankcoin-reserve-and-bankcoin-global/
Kerry’s Creative Cuts Hair Salon AUSTRALIA https://www.snn.bz/business/creative-cuts-hair-salons-accepting-bankcoin-reserve/
Signature Hair Stylists SINGAPORE accepts BCR: https://www.snn.bz/fashion/signature-hairstylists-accept-bankcoin-global-and-bankcoin-reserve/
Ian Jacobs 3 time world champion, personal trainer INTERNATIONAL PUBLIC SPEAKER: https://www.snn.bz/news/former-world-kickboxing-champion-ian-jacobs-accepts-both-bankcoinreserve-and-bankcoinglobal/
The plumber BMP AUSTRALIA accepts BCR: https://www.snn.bz/business/bmp-plumbing-accepts-bankcoin/|
The butcher From Paddock to Plate: AUSTRALIA accepts BCR: https://www.snn.bz/business/paddock-2-plate-butchers-accepting-bankcoin-reserve-and-bankcoin-global/
Platinum Produce AUSTRALIA accepts BCR & BCG: https://www.snn.bz/food/platinum-produce-accepts-bankcoin-reserve-and-bankcoin-global/
The delicatessen AUSTRALIA accepts BCR: https://www.snn.bz/business/village-deli-bongaree-accepts-bankcoin-reserve-and-bankcoin-global/
Black Garlic Grower AUSTRALIA accepts BCR: https://www.snn.bz/business/black-garlic-world-accepting-bankcoin-reserve-and-bankcoin-global/
Barries Galore Store accepts BCR: https://www.snn.bz/business/berries-galore-accepts-bankcoin-reserve-and-bankcoin-global/
Fruit Barn AUSTRALIA accepts BCR: https://www.snn.bz/business/ninji-fruit-barn-accepts-bankcoin-reserve-and-bankcoin-global/
SjW Mushroom Grower & Distributor AUSTRALIA accepts BCR: https://www.snn.bz/business/mushrooms-to-bankcoin/
Pizzerias AUSTRALIA accept BCR: https://www.snn.bz/business/pizza-capers-accepts-bankcoin-reserve/
Rollin’ in Dough Bakery accepts BCR & BCG: https://www.snn.bz/food/rollin-in-dough-bakery-now-rollin-in-bankcoin/
Aggregate business AUSTRALIA accepts BCR: https://www.snn.bz/business/coastal-landscape-supplies-accepts-bankcoin-reserve/
Dr. Marler the evangelist AUSTRALIA, INDIA, THAILAND accepts BCR: https://www.snn.bz/life-style/dr-shaun-marler-accepts-bankcoin-reserve-and-bankcoin-global-for-world-harvest-ministries/
Daniel Street fruit and vegetables AUSTRALIA accepts BCR: https://www.snn.bz/food/daniel-street-fruit-and-vegetables/