Blockchain & AI
EXCLUSIVE: HALSEY MINOR FORGES THE FUTURE WITH LIVE PLANET & VIDEOCOIN
Blockchain & AI
EXCLUSIVE: HALSEY MINOR FORGES THE FUTURE WITH LIVE PLANET & VIDEOCOIN
Halsey Minor
Here at AYO.NEWS we like to talk with interesting people, and few people in the world are more interesting than Halsey Minor.
The visionary behind some of the greatest successes in enterprise computing like CNET, Uphold, Salesforce, Google Voice, and OpenDNS. Today he leads Live Planet, the leading VR video platform, and the VideoCoin Network, video infrastructure for the blockchain-enabled internet.
Recently we caught up with Halsey to find out what’s going on with his latest ventures.
Can you briefly explain what VideoCoin is, and what advantages is has over Amazon Web Services?
The VideoCoin Network is a blockchain-powered video encoding, storage, and content distribution system. Just as Uber did for cars and Airbnb did for hotels, VideoCoin will do for video processing and delivery over the internet, processing power from otherwise idle servers in computer centers from all over the globe, for significantly less than AWS.
In 2019, video accounts for close to 82% of internet traffic and is growing at 20% per year. As video quality has increased, so has the file size — virtual reality and augmented reality traffic alone will increase 20-fold between 2016 and 2021. As people cut the cable cord and stream all content, the market to provide these data cloud services has exploded to a $30B industry, which are controlled by a few large firms; namely Amazon, Google and Microsoft. Moving that much data efficiently is where centralized servers have started to struggle.
The VideoCoin Network ecosystem will lower costs by deploying unused computing resources, enable a new generation of applications via open APIs and open source-based development, enable P2P video distribution, and increase privacy with decentralized, end-to-end encryption. This Network offers everyone from Hollywood studios to amateur videographers a way to process their video content just as easily as AWS but for far less. Current estimates show VideoCoin reduces costs by 60 percent to 80 percent, dramatically undercutting the competition.
Why did you opt to use tokenized fiat currency for VideoCoin?
We recently made some fundamental changes to the way the market works. Bitcoin has token inflation, so that model was carried over to all token projects, including ours initially. But just as bitcoin has not yet proven practical for consumer use, say to buy a cup of coffee, volatile tokens have not proven practical for business use. Businesses do not like volatility, where new tokens are minted faster than the value of the services they’re providing. Realizing this at VideoCoin, we created a new model that removes volatility completely by eliminating ongoing token generation, instead providing customers and content publishers with fiat payments via a third-party payment processor. That’s a big change.
You almost went into business with Jeff Bezos many years ago. How does it feel to be launching a service that could topple Amazon’s dominance?
I don’t think Jeff will be too worried 🙂 It’s a huge market with plenty of growth for everyone. One of the macro trends I’m watching is the outright explosion of video transforming the web, it’s traffic and the media business in general. We don’t need to put AWS out of business to succeed. Cloud services is just one of a large number of businesses where Amazon makes a lot of money — there’s also retail, digital advertising, Prime, etc. In 2018, AWS generated nearly $7.3 billion in operating income, more than half of Amazon’s total. It’s a rare opportunity to go after a business with a lot of profit.
What persuaded you to get into cryptocurrency with Bitreserve/Uphold?
I first learned about blockchain when I launched Bitreserve (now Uphold) in 2013, a digital currency service that allows you to buy crypto and to make payments connected to the US, EU and UK banking systems. This allowed people to buy crypto, which had historically been hard to do from a bank account. Today Uphold is thriving and profitable, serving 184+ countries across 30+ currencies (traditional and crypto), but the regulatory aspect was a headache. I thought there were others who were better suited to run the company so I left and started Live Planet.
I firmly believe in the power of blockchain tech as a game-changing disruptor, both against tech giants and in favor of civilians with much to gain. With the blockchain, we have a completely decentralized version of the internet, all powered by a simple idea. There was an internet of information, but now there is an internet of value and information. These two things compound each other. The new internet will be bigger than the first — I truly believe that. What’s interesting is you can combine the transparency of information with the liquidity of money, transforming the internet into what it was always meant to be — a decentralized communication network.
What makes Live Planet’s VR system so innovative?
Unlike television, there are no standards in virtual reality, so current market offerings do not work together. We struggled with that and decided to take out all the duct tape and bubble gum you would have to know before. We built all of the necessary pieces — a compact 3D VR camera, a cloud-based publishing platform and mobile apps — into one end-to-end system that makes producing content 10x easier, while dramatically improving the quality of streaming VR. Now, you simply order the system, get the box, open it up, turn it on, and start streaming in VR in less than 15 minutes.
The VR System uses NVIDIA’s Jetson TX2 to instantly stitch together 16 different image sensors to output 4K video at 30 frames per second, all inside the camera. This saves content creators days in time and expense in video post-production.
You’ve said that VR is the “Engine to Drive Empathy Worldwide.” What is your biggest hope for the technology?
VR is truly special in the way it viscerally allows you to experience another’s reality. You literally transport yourself and your senses instantly to new worlds. Just as airplane travel and the internet have created the ability to experience other cultures and events, so too does VR in a profound and lasting way. TV, while powerful, is really very artificial in a way that VR is not. In VR, you see everything around you. There is nothing hidden and the experience is the same as being there. VR has the ability to let one better experience another’s true reality. There will always be those who resist but the medium affords anyone an easy path to understanding. World events like protests and destructive weather events are experienced much more deeply in VR, giving us a better understanding of the world and each other.
How will 5G change things?
Just as no one knew the iPhone would become ubiquitous, which transformed and tested the limits of 4G, we don’t yet know the best applications for 5G today. We do know the increased bandwidth, reliability and lower latency will make VR far more pervasive. Within a short time, everyone will have a VR headset, much as everyone now has a smartphone and wonders what they ever did without it.
Do you feel the US is moving too slow in terms of regulating cryptocurrencies, digital assets, blockchain and AI?
I think the US is being cautious and it’s frustrating. But this is a big change and we shouldn’t be surprised the US is not green lighting the crypto industry. I think it’s up to the industry to prove that it does not pose a risk to consumers and that value in incontrovertible. I don’t think we’ve done that yet. As services like the VideoCoin Network launch, they provide a record that businesses are better off with crypto than without it. We need to transform from a trading based system to a service delivery based system. I think the VideoCoin Network will be one of the very first applications to really move the dial and demonstrate the value crypto can play in society.
After many years of success, you went through a very dark period beset by personal tragedies and business difficulties, but you’re clearly back on top. Do you have any advice for others going through difficult times?
The only way I could move forward in my life was to put everything behind me. Sometimes things go wrong and you just carry on. When you look back over the long arc of my life, it’s clear that period was a very unique time. Today, I’m back doing what I love with Live Planet and the VideoCoin Network. For readers, I’ll impart the advice of Winston Churchill: “Success is not final, failure is not fatal: it is the courage to continue that counts.”
AYO.NEWS says:
We’re sure you’ll agree Halsey and his teams at VideoCoin and Live Planet are making some pretty cool things happen, and we’ll be watching developments closely and hopefully catching up again soon. In the meantime, it’s a massive ‘thanks’ to Halsey for taking the time to share his thoughts, insights and vision.
Keep up with our Live Planet coverage:
Advanced media and tech co. Live Planet appoints Per Borgklint and Marcus Bergström as advisors to its Decentralized Media Solutions division (read more).
Hanno Basse, former Chief Technology Officer at 20th Century Fox Film Corporation, has been appointed president of Live Planet’s Decentralized Media Solutions division (read more).
With several years experience in the igaming and sports betting industries in Malta under his belt, over the last few years Oliver has developed a passion for blockchain and an interest in esports. He’s also a published novelist and has a background in art and photography.
Land-based casino equipment supplier Gaming Partners International (GPI) has become the latest victim of Russian hacker group REvil.
In a public statement, REvil revealed it has hacked the servers of GPI, and issued a 72-hour deadline for the company to pay the ransom in cryptocurrency.
According to the DailyMail, the group has stolen 540 gigabytes of sensitive data from GPI, including financial documents, contracts and technical documentation for all of the company’s gaming machines, and “absolutely all servers and working computers of the company are hacked and encrypted.”
REvil say they have all the most important data from the company’s servers, including from both Macao and Mexico, and that if the ransom is not paid they will publish all the information, causing “huge losses” to GPI’s customers.
The exact amount demanded by REvil has not been made public, and it is not known if the company has paid the ransom.
In September, Chilean state-owned bank, Banco Estado, had to temporarily shut down operations after suffering a major ransomware attack by REvil.
AYO.NEWS says:
As we’ve been reporting, this year has seen many ransomware attacks by REvil and other hacker groups, including one which saw multinational tech company Garmin pay up $10M, and US travel firm CWT pay a $4M ransom in Bitcoin (BTC).
However, it’s not all plain sailing for the bad guys. In late August, Tesla revealed one of its employees had helped the FBI thwart a major crypto ransomware attack on the company.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
Image credit: Natus Vincere
Natus Vincere is the latest esports organisation to partner with fan engagement platform Socios.com.
Ukraine-based Natus Vincere (Na’Vi) says it will be launching a Fan Token on the blockchain-based fan voting and rewards application from Malta-based Chiliz.
By purchasing $NAVI tokens, fans will gain voting rights, and be able to influence selected decisions made by the organisation.
5 million $NAVI fan tokens will be made available at launch, with a limited number sold at just $1 USD each during a flash sale to get the ball rolling.
Discussing plans CEO of Natus Vincere, Yevhen ‘HarisPilton’ Zolotarov, said:
“What we are launching today is the next eventual step in switching to a new dynamic of interacting with our devoted audience. Socios.com creates an opportunity to become an actual and viable part of NAVI, as $NAVI tokens are the real way to influence our decisions. In fact, it is a way of making all the crucial decisions together.
“We truly hope that our #NAVINATION members will enjoy the opportunity to make a real difference with NAVI during the next few years.”
While Founder and CEO of Chiliz and Socios.com, Alexandre Dreyfus, added:
“NAVI’s ‘Born to Win’ mentality has already forged a really strong alliance with their fanbase. The organisation has always been focused on creating a special bond with players through YouTube vlogs and social media activity, but now NAVI are taking things to the next level. $NAVI Fan Tokens are going to give fans a real say in the future of the organisation and real decision making power, not to mention the chance to win some amazing rewards too.”
Thus far, Socios.com is dominated by football clubs (Paris Saint-Germain, Juventus, AS Roma, Atletico Madrid, to name but a few), with Na’Vi becoming only the third esports organisation to join, after OG and Team Heretics. Mixed martial arts organisation UFC is also partnered with the app.
AYO.NEWS says:
With so many things competing for fans’ attention, driving long-term, sustainable fan engagement is critical for the commercial viability of esports and traditional sports organisations alike.
While Socios.com has attracted a lot of attention, other platforms like Blocksport are also making headway – indeed, Russian organisation Virtus.pro announced it had selected the platform earlier this week.
Meanwhile Gen.G Esports recently partnered with blockchain network Rally to launch its own CS:GO crypto fan token called GG Strike Coin.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
H.M. Government of Gibraltar has joined the Global Blockchain Business Council (GBBC).
Launched in Davos in 2017, GBBC is an international industry association for the blockchain technology industry, committed to advancing global understanding of blockchain tech. The government of Gibraltar will be joining the association as an Observing Member.
Discussing the news Minister for Digital and Financial Services, the Hon. Albert Isola, said:
“The GBBC is committed to developing the next trillion dollar industry through education, advocacy, and partnership.
“GBBC’s vision to further the adoption of blockchain technology through engaging and educating enterprises and regulators is totally aligned with our own mission and we are delighted to stand alongside this prestigious organisation where we can collaborate and work together with some of the best innovators and thought-leaders in this sector to help us achieve this common goal.”
While CEO of GBBC, Sandra Ro, said:
“The Global Blockchain Business Council welcomes the Government of Gibraltar into our global network as a GBBC Observing Member. We look forward to highlighting the important digital assets and blockchain technology work and innovation from Gibraltar as we advance global collaboration, adoption, and opportunities.”
The news is the latest in a string of high-profile announcements for the Government of Gibraltar who, earlier this year, announced they had joined INATBA, a group of international blockchain industry players at an EU-level and continues to work in expanding its reach internationally.
Reflecting its genuinely global nature, the GBBC currently has ambassadors in Afghanistan, Australia, Austria, Bahrain, Barbados, Belgium, Bermuda, Bolivia, Brazil, Bulgaria, Canada, China, Denmark, Ecuador, Estonia, France, Georgia, Germany, Greece, Haiti, Hong Kong, India, Ireland, Israel, Jamaica, Japan, Kazakhstan, Latvia, Mongolia, Netherlands, New Zealand, Nigeria, Palau, Peru, Puerto Rico, Russia, Rwanda, Singapore, South Africa, South Korea, Switzerland, Taiwan, Tunisia, Turkey, Uganda, Ukraine, UAE, UK, USA, and Vanuatu.
All original content featured on this site is © Pentagon Digital Limited, 2020.
Global peer-to-peer Bitcoin (BTC) marketplace, Paxful, and Ternio’s crypto fintech platform BlockCard, have announced a new debit card.
Initially available in the United States, with an international roll out to follow, the new debit card will give users the ability to convert cryptocurrencies to USD, make purchases, get a checking account, and withdraw funds from any ATM worldwide.
The companies say the new card will help fill a gap in the traditional financial system that has left many without access to essential banking products. According to a 2017 survey by the FDIC, 25% of US households are unbanked or underbanked, while globally that figure reaches a staggering 1.7 billion (according to the World Bank).
BlockCard offers Paxful both a virtual card and physical card, requires a minimum balance of just $10, and can be used at over 45 million merchants and ATMs worldwide.
Discussing the new card CEO and co-founder of Paxful, Ray Youssef, said:
“Whether looking to invest in education, start a business, or simply manage the financial demands of everyday life, there should be a viable option for everyone across the globe. Paxful has always been dedicated to providing that option, be it to users who are in the platform as a matter of preference, or necessity.”
While CEO and co-founder of Ternio, Daniel Gouldman, added:
“Paxful is a best in class peer to peer bitcoin marketplace, so we’re pumped up about being able to provide their customers access to the BlockCard platform.
“It’s going to be fun to pair together all of the strengths of Paxful with Blockcard’s global debit card and bank account capabilities. Ternio is committed to providing interoperability between cryptocurrencies and the traditional banking system.”
In addition to issuing the Paxful Card, BlockCard will also provide dedicated technical customer service and all-in-one services on its mobile app.
AYO.NEWS says:
As we all know, traditional banks can be a b**ch, and their aversion to providing decent services can often lead the poorest, most vulnerable members of society, to fall into viscous debt spirals, so anything that helps bridge the financial gaps is great news.
Staying with sticking one to the traditional financial system and helping the underbanked and unbanked, last month the Decentralized Lending Network (DLN) announced the launch of a novel concept to executing a no-fee, zero percent interest micro-loans network.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
FirstBlood Technologies has announced a partnership with MakerDAO to bring decentralised stablecoin integration to the FirstBlood Platform.
MakerDAO, the protocol behind the popular DeFi stablecoin Dai, will enhance accessibility for enthusiasts and professional gamers alike, by offering rewards in DAI to competitive gamers playing on FirstBlood.
According to the company, this “signals an immense victory for gamers,” allowing for permissionless cross-border payments to be made in what is one of the most popular DeFi crypto tokens.
Discussing the news Co-founder and CEO of FirstBlood, Joe Zhou, said:
“We aim to leverage the massive DAI community and facilitate blockchain adoption into the world of competitive gaming. With players competing from every continent, payments in cryptocurrencies will simplify barriers to entry for users, and provide a stable and secure environment for players to earn rewards for rising to the challenge.”
While CEO of Maker Foundation and co-founder of MakerDAO, Rune Christensen, added:
“The borderless, decentralized nature of Dai makes it the perfect stablecoin to use as in-game rewards for FirstBlood players. The stability, transparency and ease of use of Dai will let players spend more time focused on competing and less time sorting out how to manage their rewards.”
To celebrate the partnership, MakerDAO is offering 10,000 DAI in prizes to sign-up and compete on FirstBlood.
AYO.NEWS says:
As anyone who’s familiar with this site will guess, we love it when esports and blockchain come together nicely like this! For gamers already using FirstBlood this will make things more convenient, and hopefully it will net the platform a fair few new sign-ups too.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
MESE.io, the Algorand-powered tokenized microequities exchange, has launched MESX, an index ETF token that acts as a centralized exchange token and exhibits DeFi token mechanics.
MESX is backed by Microsoft, Apple, Tesla, Twitter, Amazon, Netflix, and Google (MATTANG) stocks held in its index fund, and can be traded on MESE.io.
It will launch with a 10,000 USD index ETF pool value of MATTANG stocks, which is equivalent to 10,000,000 MESX tokens. Initially, each MESX token will represent 1/10,000,000 shares of the MESX pool of equity for a value of 0.001 USD per MESX token.
Drawing on the recent innovations in the DeFi space, MESX has been modeled to be a sustainable DeFi product on a CeFi platform. Similar to liquidity incentive programs in decentralized finance, the MESX tokens held on MESE.io receive continual staking rewards based on 50% of all net transactional revenue on MESE.io.
This 50% net revenue share directly contributes to the MESX index ETF pool which mints an additional supply of MESX for a sustainable DeFi staking pool resulting in a positive feedback loop.
Discussing the launch Managing Director at IBMR.io, Sinjin David Jung, explained:
“We are massive fans of the Uniswap model and we wanted to see if we could apply those innovations to a CeFi platform.
“The beautiful thing about DeFi is that growth and value come from the process of participation in revenue sharing, this is at the heart of the decentralized network model. But, sharing in revenue without actually creating revenue is problematic as many DeFi projects were solely dependent on secondary market speculative appreciation for a basis of value.
“The key to sharing revenue through the process of participation is in the mechanism of staking. In the case of a DEX AMM, the staking rewards are provided on the basis of providing liquidity to ensure trades can happen, but for our model, we have based staking rewards on our overall net transactional revenue on the exchange.
“Unlike the current exchange token model, we are not burning exchange tokens with profit, but are investing those net revenues into the underlying index ETF pool so that we can mint more supply resulting in more staking. We hope that this will be a sustainable DeFi model of value where MESX can also act as a long term microasset for emerging market participants.”
With the global fintech market expected to grow at an annual rate of 24.8%, surpassing its $120 billion market value, MESE.io anticipates the introduction of innovative DeFi and crypto exchange models into microfinance will act as the catalyst for contributing to financial inclusion and growth in emerging markets.
Please note that all US jurisdictions and those territories sanctioned by the US Treasury are restricted from access and participation on MESE.io.
AYO.NEWS says:
This is an interesting approach to tackling some of the issues that are plaguing DeFi right now, like assets becoming overly speculative, and making participation in the global tech equity market more accessible, so we’ll be watching to see what happens.
‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.
All original content featured on this site is © Pentagon Digital Limited, 2020.
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