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Why AWS and public clouds are a great fit for digital health companies – Cloud Tech

Global equity funding to private digital health startups grew for the 7th straight year in 2016, with a 12% increase from $5.9B in 2015 to $6.6B in 2016, according toCBInsights.

Not incidentally, the rise of digital health has coincided with rising familiarity and market acceptance of public cloud providers like Amazon Web Services (AWS). Public cloud is what has allowed growing healthcare software companies to get to market faster, scale, and meet compliance obligations at a fraction of the cost of custom-built on-premise systems.

Ten years ago, when digital technology was disrupting established companies in nearly every industry, health IT was still dominated by a handful of established enterprises and traditional software companies. In the scramble to meet Meaningful Use requirements for stimulus funding, healthcare providers and insurance companies moved en masse to adopt EMR, EHR, and HIE systems. A few years later, another scramble began as the insurance industry rushed to build HIX (Health Insurance Exchanges) under Obamacare.

Today, most healthcare software products are delivered as Software-as-a-Service platforms. Except for core systems, customers do not anticipate needing to add infrastructure to host new software products. They expect to access these services on the cloud, and be able to add or remove capacity on demand. While some legacy software products will struggle to modernize their code to run in the cloud, next generation cloud-native products benefit from the inherent competitive advantages of infrastructure-as-a-service.

In a public cloud like Amazon Web Services, you can:

Arguably the most important benefit for new companies is the ability to launch your software product into production in a short span of time. In order to comply with HIPAA, you still have to undergo a risk assessment prior to launch, but a good portion of that assessment can rely on AWS own risk assessment.

The benefits of the SaaS delivery model are not limited to new startups. More established companies who saw the market shift and took action early have also benefited from the public cloud.

A top health insurance company recently launched an online wellness and population health management application for diabetes patients. The program combines a number of cloud-based technologies including Big Data, Internet of Things, and Live Media Streaming all while maintainingHIPAA compliance.

This is all possible because the company hosted its new product on the AWS cloud.

The company also chose AWS because it supports the hyperscale growth of data that must be delivered seamlessly in patient-facing applications that monitor real-time health goals. This kind of data-crunching would be considerably more expensive in an on-premises data centre. AWS also take care of a significant portion of the risk and cost of protecting physical access to sensitive health data.

They didnt build the infrastructure for the application alone. They relied on cloud automation and a partner (Logicworks).

One of the core benefits of AWS is that it has the potential to significantly reduce day-to-day IT operations tasks. IT can focus more on developing software, and less on building and maintaining infrastructure.

However, AWS is not maintenance-free out of the box. AWS is just rented servers, network, and storage; you still have to configure networks, set up encryption, build and maintain machine images hundreds of tasks large and small that take up many man-hours per week. In order to make AWS run itself, you needautomation.

Cloud automationis any software that orchestrates AWS. AWS officially recommends the following aspects of automation:

And yes, it is entirely possible to use these automation tools in a HIPAA-restricted environment. However, creating this software from scratch is time-consuming and complex. It requires vastly different skills from those required to launch AWS or write an application and most healthcare companies dont really have the time or resources for it, so hiring a partner is the best approach.

The AWS cloud is a new landscape for most risk-averse companies. Established healthcare companies struggle to understand the new responsibility model for security and compliance on AWS, while new healthcare companies just want to get HIPAA compliance out of the way so they can move on to growing their business.This is where a partner can help. An experienced AWS consulting partner can reduce the risk of migration and accelerate the process of getting a HIPAA audit-ready environment up and running quickly.

The good news is that AWS has a very robust partner ecosystem for healthcare companies. Visit theAWS healthcare partner pagefor more information. Orcontact Logicworks we currently manage AWS for companies like Orion Health, MassMutual, and Spring Venture Group with ePHI for more than 50 million Americans.

The post Why Digital Health Companies Belong in AWS Cloud appeared first on Gathering Clouds.

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Cloud Infrastructure Market Hits $70B in Revenue – ServerWatch – Server Watch

While the public cloud is all about abstracting the physical hardware and servers needed to deliver applications and services, the reality is that hardware is required. The cloud infrastructure equipment market is an increasingly competitive space, with no single clear industry leader at this point.

According to Synergy Research Group's 4Q16 market data report, at the end of 2016 the total market for both public and private cloud hardware and software revenues topped the $70 billion revenue milestone.

Of particular note is the extreme competition in the cloud infrastructure equipment market. The top three vendors are locked in a three-way tie for market share. Hewlett Packard Enterprise (HPE), Cisco and Dell EMC each hold approximately 11.5 percent of the total market share.

Each of the top three vendors however has a different area of revenue share leadership. According to Synergy Research Group, HPE is the leader in the cloud servers, Cisco is the leader in the networking segment, and Dell EMC leads in storage.

"Putting to one side the chunk of the market that is now sidelined and controlled by ODMs, the rest of the market is being heavily contested by the three leading IT hardware vendors, John Dinsdale, a Chief Analyst and Research Director at Synergy Research Group, said in a statement. "While spend on cloud services and infrastructure is already huge, it is still relatively early days in the transition of enterprise workloads to the cloud."

Dinsdale added, "that means that success in the cloud infrastructure market is vitally important to IT vendors and they will be fighting long and hard to maximize their market shares."

Analyst firm IDC had forecast a year ago that cloud infrastructure revenue would hit $38.2 billion for 2016. Looking forward, IDC forecasts a projected $57.8 billion will be spent on cloud in 2020.

Sean Michael Kerner is a senior editor at ServerWatch and InternetNews.com. Follow him on Twitter @TechJournalist.

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Microsoft research claims big opportunities in hybrid cloud implementation, managed services – Channelnomics

Microsoft has pointed to big opportunities for channel partners in hybrid cloud implementation and managed services in a blog postthis week, detailing findings from a new study.

The study, Digital Transformation Opportunity for Service Providers: New Paths to Beyond Infrastructure, was commissioned by Microsoft, conducted by 451 Research and examined more than 1,700 participants from 10 geographies.

According to the Microsoft blog post written by Aziz Benmalek, VP of worldwide hosting and managed service providers at Microsoft, the findings imply "enormous opportunity" for Microsoft cloud partners to help customers with their hybrid cloud implementations, as well as digital services.

"More than ever before, customers are looking to a single trusted advisor to provide transformation-oriented managed services and hybrid implementation," Benmalek quoted Melanie Posey, VP of 451 Research, as saying. "Customers are looking to service providers to not only transform IT, but also transform their entire business - to rewire the building and support new requirements, all while keeping the lights on."

Benmalek added that Gartner believes hybrid cloud will become the most common usage of cloud by 2020, so long as public cloud is part of the "overall" strategy. The exec emphasized the study's findings that 90 percent of customers would pay service providers a "hefty" premium for help with implementing a hybrid-cloud environment.

The exec noted that Microsoft currently has "tens of thousands" of partners working with enabling hybrid offerings, as well as cloud services, claiming double-digit growth in the vendor's hosting and managed services business over the past five years.

According to Benmalek, Microsoft's report shows that 2016 was the first time customers depended more on digital infrastructure than physical infrastructure. This is upping the services opportunity, as services will represent 74 percent of hosting/cloud spend this year, versus 71 percent last year, he said.

"Half of all organizations surveyed consider service providers as vital for future digital transformation projects. Even better, 60 percent of those would be willing to pay twice as much as they currently spend to have a single trusted advisor solution to manage all their digital transformation-related sourcing, implementation and management needs," Benmalek said.

"Additionally, the new research shows that 62 percent of cloud/hosting infrastructure spending comes bundled with value-added services, rising to 84 percent for the next hosting/cloud infrastructure engagement," Benmalek noted. "By owning the customer relationship end to end it provides the perfect platform for partners to build value-added services for their customers that will create stickiness and differentiation from the competition."

According to the survey, the top digital transformation projects for the next year include the financial services, retail and healthcare sectors, Benmalek added.

Short-term opportunities are available in data and site protection, including backup and recovery, disaster recovery/site protection and archiving, which all saw "substantial" boosts in current and planned usage from 2016 -2017, the blog noted.

Benmalekalso detailed longer-term opportunities.

"Longer term, a more strategic play is 'run the stack' services for the ongoing operation, management and support of cloud/hosting infrastructure environments, including end-to-end application management, proactive capacity planning, premium/on-call 24/7 support, incident management and remediation [and] infrastructure/application alerting and monitoring," the exec explained.

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Bypassing encryption: Lawful hacking is the next frontier of law enforcement technology – Salon

The discussion about how law enforcement or government intelligence agencies might rapidly decode information someone else wants to keep secret is or should be shifting. One commonly proposed approach, introducing what is called a backdoor to the encryption algorithm itself, is now widely recognized as too risky to be worth pursuing any further.

The scholarly and research community, the technology industry and Congress appear to be in agreement that weakening the encryption that in part enables information security even if done in the name of public safety or national security is a bad idea. Backdoors could be catastrophic, jeopardizing the security of billions of devices and critical communications.

What comes next? Surely police and spy agencies will still want, or even need, information stored by criminals in encrypted forms. Without a backdoor, how might they get access to data that may help them solve or even prevent a crime?

The future of law enforcement and intelligence gathering efforts involving digital information is an emerging field that I and others who are exploring it sometimes call lawful hacking. Rather than employing a skeleton key that grants immediate access to encrypted information, government agents will have to find other technical ways often involving malicious code and other legal frameworks.

Decades of history

In the mid-1990s, the Clinton administration advanced a proposal called the Clipper Chip. The chip, which ultimately was doomed by its technical shortcomings, was an attempt to ensure government access to encrypted communications. After the chips introduction and failure, a group of cryptographers formally studied various mechanisms that might allow a trusted third party (in this case, the government) to read encrypted data in emergencies. They concluded that each approach had significant security risks.

Overall, the cryptographers view was that introducing this new capability into an encryption system made an already complicated process even more complex. This increased complexity made it more likely that there would be an unintentional vulnerability hidden in the encryption protocol that malicious hackers could find, gaining access to the trusted third partys emergency system or otherwise breaking the code. The hackers could then read secret messages for their own purposes a huge risk.

When the Clipper Chip project died and when the cryptographers major study came out, the idea of exceptional access for government seemed to die as well. In an environment in which cybersecurity was an increasing priority, and in which encryption was a partial defense against many data breaches and hackers, it seemed unwise to do anything that might weaken cryptographic standards.

Snowden reveals more

While the Clipper Chip effort to use public processes to create weaknesses in cybersecurity had failed, the National Security Agency had, in secret, worked to undermine certain popular encryption algorithms. In addition to direct attempts to break encryption with mathematical methods, an NSA project code-named Bullrun included efforts to influence or control international cryptography standards, and even to collaborate with private companies to ensure the NSA could decode their encryption.

This came to light when former NSA contractor Edward Snowden revealed a massive trove of files about U.S. government spying in 2013 and reignited the debate about what abilities and powers the government should have to read encrypted material.

Once again, a group of the worlds leading cryptographers studied the issue, and in 2015 came to the same conclusion: The risk of backdooring encryption to enable government access was too high. Doing so would weaken overall security too much to make up for any brief improvements in public safety or national security.

The FBI pushes back

Then came the San Bernardino attack. On Dec. 2, 2015, Rizwan Farook and his wife, Tashfeen Malik, opened fire at a social services center in San Bernardino, California. Inspired but not directed by foreign terrorist groups, they killed 14 people and wounded 22 more during their violent rampage.

Before the attack, Farook had physically smashed up two personal cellphones, rendering their data unrecoverable. He left untouched his work phone, an iPhone 5c issued by San Bernardino County. Investigators found the phone, but the FBI was unable to examine its data due to Apples encryption and security mechanisms on the device.

To get around this, the United States government used a law from the earliest days of the republic, the 1789 All Writs Act, to try to compel Apple to write software that would break the encryption and grant the FBI access. Apple refused, saying that doing so would weaken the security of every iPhone on the market, and a court showdown began.

The conflict in a nutshell

The Apple-FBI case nicely encapsulates much of the debate around encryption: a horrible incident that everyone wants investigated, the governments stated need for access to aid the investigation, strong encryption that prevents that access and a company unwilling to risk the broader security of its products by attacking its own software.

And yet, even when the stakes were as high as the government said they were in the San Bernardino case, encryption would remain secure.

Faced with Apples refusal to comply and criticism from the technology and privacy industries, the FBI found another way. The bureau hired an outside firm that was able to exploit a vulnerability in the iPhones software and gain access. It wasnt the first time the bureau had done such a thing.

As this all unfolded, and in the face of a wide range of significant opposition, a bill to mandate backdoors was introduced and failed in the United States Congress.

Encryption backdoors remain largely viewed as weakening everyones protections all the time for the sake of some peoples protections on rare occasions. As a result, workarounds like the FBI found are likely to be the most common approach going forward. Indeed, in recent years, law enforcement agencies have greatly expanded their hacking capabilities.

A look to the future

The details matter, though, and how this fledgling field develops remains to be seen. Technologists and lawyers studying the issue have identified several key questions, but not their answers. These include:

While some details depend on specific certain answers to these legal and technical questions, a lawful hacking approach offers a solution that appears to gain greater favor with experts than encryption backdoors. A group of scholars proposed some ways we should begin thinking about how law enforcement could hack. Agencies are already doing it, so its time to turn from the now-ended debate about encryption backdoors and engage in this new discussion instead.

Ben Buchanan, Postdoctoral Fellow, Cyber Security Project, Belfer Center for Science and International Affairs, Harvard University

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Opinion Data encryption efforts ramp up in face of growing security threats – Information Management

Last year there was a lot of momentum in the deployment of data encryption. This was seen on the web, in the consumer space, and in the enterprise. I expect to see these trends continue and accelerate. While current data encryption work covers a broad set of topics from the attacks against old algorithms such as SHA1 growing in strength, to the exciting progress on post quantum cryptography, I want to draw attention to a set of practical trends that will affect businesses in the coming months.

This year we will see encryption deployment accelerate. This trend will be most visible in the browser where https will replace http for most high-traffic sites, and will be driven by the move to http2 (which, in practice, will not support unencrypted traffic as well as initiatives by Google to push sites to use encryption).

Large media organizations, such as The Guardian and The New York Times, are leading the way and have switched to https only. The benefits of encryption include greater privacy for your visitors, as well as preventing the increasingly common practice of content injection.

I also expect this trend to accelerate in categories that are moving beyond transport-level encryption such as consumer and IoT products, where the perceived risk of hackers and state sponsored attacks is growing. WhatsApp, iMessage, and other messaging platforms have deployed end-to-end encryption to more than a billion consumers. In the IoT space, suppliers are starting to offer end-to-end encrypted solutions ready for integration into everything, from light bulbs to cars.

The Enterprise Will Deploy End-to-End Encryption

Currently, enterprise software lags behind the consumer space in the deployment of end-to-end encryption. Many popular tools don't use end-to-end encryption, leaving companies at risk to data snooping and massive hacks. The value of securing data will become more evident as more high-profile hacks and leaks, such as the DNC hack, are revealed.

End-to-end encryption means that the only parties with access to your data are the ones with the keys. If done properly, this can remove all of the back-end infrastructure from the trusted compute base. This is a critical step to reducing leaks, and is especially beneficial for cloud solutions where it is often unknown who has access to customer data: Your SaaS provider? Their providers? Their hosting service?

Key Management Will Remain a Challenge

Data encryption is, unsurprisingly, no silver bullet. The greatest challenge when deploying an encryption system is key management. How are keys distributed and protected? We have seen examples of key management failures from the infamous Comodo hack to the use of stolen code signing certificates.

In your own origination, it is important to protect your keys, especially if they are used to authenticate your software or services to the public. Best practices here are:

Use Certificate Transparency for your public https certificates.

Consider using hardware encryption modules such as TPM for servers, and FIDO for clients.

Code signing keys should be stored and used on air gapped machines whenever possible.

The Conversation Will Move from Privacy to Trust

Historically, cryptography has been thought of as a tool to enable privacy, but the narrative is moving to one of trust. When Apple shipped encryption by default for iOS, and WhatsApp turned on end-to-end encryption, it was not because their support queues were filled with requests for more privacy. They shipped these features to create a stronger bond of trust for their brand. Encryption allows companies to tell their users, You can trust us; even if a hacker gets their hands on the data, they wont be able to read it. Your stuff is safe with us, and only you have access to your account.

This concept is important not just for consumer applications, but for enterprise software as well. If a company uses a SasS or on-premise product with end-to-end encryption, theres a level of protection around sensitive company information that cant be achieved with alternative technologies. Even inside an organization, the IT department doesnt need access to decryption keys. By employing strong encryption, users are able to trust their organizations and security vendors to keep their information secure, leading to more regular use and widespread support of products that do so.

This year is shaping up to be a momentous year for encryption, with increased deployment across all sectors. It will continue to play an important role in security, as well as help build trust between brands and their customers.

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EPA Sued For Withholding Info On Encrypted Text Messages | The … – Daily Caller

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A public interest law firm sued the EPA for not turning over records regarding agency officials use of encrypted messaging applications.

The Cause of Action Institute (CoA) filed suit in the District Court for the District of Columbia Tuesday after the EPA failed to turn over any records to the group within the time limits specified under the Freedom of Information Act (FOIA).

Career employees at the EPA appear to be using Signal to avoid transparency laws and vital oversight by the Executive Branch, Congress, and the public, Henry Kerner, CoAs assistant vice president, said in a statement. Communications on this encrypted application, however, which relate to agency business must still be preserved under the Federal Records Act and be made available for disclosure under the FOIA.

CoA filed a FOIA request with EPA in early February asking for records created by agency employees on the encryption application for smart phones, called Signal. CoA said the use of Signal may violate federal law requiring agencies to preserve all work-related communications.

The groups FOIA request came after Politico reported about a dozen EPA employees were already communicating incognito using the app Signal shortly after Trumps inauguration to discuss what to do if Trumps political appointees undermine their agencys mission to protect public health and the environment, flout the law, or delete valuable scientific data that the agency has been collecting for years.

Shortly after the news broke, The Daily Caller News Foundation asked legal experts, including CoA, if it was legal for federal workers to use Signal to discuss work-related matters.

Signal allows users to send encrypted messages that are difficult to hack or monitor. Federal law requires employees to preserve all work-related records, even those sent on encryption apps.

Failure to turn those communications over to the government violates the law, according to legal experts not the use of encryption apps themselves. Though using Signal would make it difficult to know what a federal employee was communicating.

Taxpayers have a right to know if the EPAs leadership is meeting its record preservation obligations, Kerner said.

Capitol Hill has gotten involved in the matter. Republican lawmakers on the House Committee on Science, Space and Technology asked EPAs inspector general to look into the matter.

Reportedly, this group of career officials at the EPA are aiming to spread their goals covertly to avoid federal records requirements, while also aiming to circumvent the governments ability to monitor their communications, Reps. Lamar Smith of Texas and Darin LaHood of Illinois wrote in their letter to EPAs IG.

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YoCoin Review: Pump and dump altcoin with recruitment

There is no information on the YoCoin website indicating who owns or runs the business.

An address in Bangkok, Thailand is provided on the YoCoin website. Further research however reveals this address actually belongs to Regus, who sell virtual office space.

As such is appears YoCoin exists in Thailand in name only.

The YoCoin website domain (yocoin.org) was registered on the December 3rd 2015, however the domain registration is set to private.

At the time of publication, Alexa estimate that 30% of traffic to the YoCoin website originates out of India.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

YoCoin has no retailable products or services, with affiliates only able to market YoCoin affiliate membership itself.

Attached to the YoCoin MLM opportunity is the YoCoin cryptocurrency.

YoCoin is a decentralized, peer-to-peer digital currency that enables you to easily send money online.

CoinMarketCap first listed YoCoin (YOC) back inJanuary, 2016. The YoCoin cryptocurrency appears to have precededthe launch of the YoCoin MLM opportunity.

YoCoin currently has a value of 0.00025 BTC (17 cents US).

The YoCoin compensation plan pays affiliates to recruit new YoCoin affiliates.

When a YoCoin afiliate invests, they start to receive YoCoins 30 days after their investment at a rate of 5% of coins invested in per week.

When a YoCoin affiliate recruits another affiliate who invests, they are paid 10% of the invested amount.

Residual recruitment commissions in YoCoin are paid out via a binary compensation structure.

A binary compensation structure places a YoCoin affiliate at the top of a binary team, split into two sides (left and right):

Subsequent levels of the binary team are generated as required, with each new level of the binary team housing twice as many positions as the previous level.

Positions in the binary team are filled via direct and indirect recruitment of new YoCoin affiliates.

In order to qualify for binary commissions, a YoCoin affiliate must recruit two new affiliates.

Each week funds invested by affiliates on both sides of the binary team are tallied up.

YoCoin affiliates are paid 10% of funds invested on the weaker binary side.

How much a YoCoin affiliate can earn in binary commissions each week is capped based on how much theyve invested, as well as their personally recruited affiliates:

Note that only $2000 of an affiliates own investment can be counted towards the above qualification criteria. The rest must be sourced from recruited affiliates.

YoCoin affiliates are paid a 10% matching bonus on binary commissions earned by personally recruited affiliates.

YoCoin place 1% of company-wide invested funds into a Yo Club Benefits pool. This pool is divided between qualified Yo Club affiliates.

To qualify for the Yo Club, a YoCoin affiliate must generate $10,000 for that month on both sides of the binary team. Each month they must also recruit two new affiliates who have each invested $1000 or more.

The second Yo Club benefit is anadditional 10% match on binary commissions paid to personally recruited affiliates.

The Yo Club binary match is paid in YoCoins and only on recruited affiliates who do not qualify as Yo Club affiliatesthemselves.

Finally, Yo Club affiliates also receive residual binary matching commissions, paid out down an additional two levels of recruitment.

The Yo Club binary match is 10% on level 2 and 15% on level 3.

YoCoin charge a 10% withdrawal fee when affiliates convert virtual wallet commissions to actual money.

YoCoin affiliates must reinvest 30% of all commission payouts back into YoCoin.

Affiliate membership with YoCoin free. In order to earn MLM commissions however, either the affiliate or recruited affiliates must invest at least $50.

The more a YoCoin affiliate initially invests (up to $2000) the more they can earn through the YoCoin compensation plan.

The YoCoin concept is born out of the success of the pioneering cryptocurrency, Bitcoin.

Another MLM cryptocurrency riding on the coattails of bitcoin? Who would have guessed

YoCoin combines a pyramid scheme compensation plan with a pump and dump altcoin.

Basically the anonymous owners of YoCoin have been busy mining their cryptocurrency since January or so. Now the plan is to launch an MLM opportunity, through which affiliates buy these coins from them.

The hopeis that the MLM opportunity will generate artificial demand for YoCoin, which in turn means the owners of the company will turn a profit offloading the coins onto YoCoin affiliates.

Naturally purchasing yet another worthless altcoin isnt something that will happen organically, and so you have pyramid style commissions to incentivize YoCoin affiliate recruitment.

Theres no way around affiliates getting paid to recruit new affiliates in YoCoin being pyramid scheme in nature. Securities issues are also raised, with YoCoin affiliate fees quite obviously a speculative investment.

There is no mention of YoCoin having registered with the SEC or a securities regulator on their website. This would mean the YoCoin MLM offering is an unregistered security, whichis another problem.

If regulators dont shut down YoCoin, the cryptocurrency will experience a minor value increase corresponding with YoCoin launch hype and new affiliate recruitment.

YoCoins founders will dump coins on YoCoin affiliates and turn a profit.

With no genuine demand or use for YoCoin outside the MLM opportunity, once affiliate recruitment drops off the value will plummet.

Once again the scenario of affiliates in an MLM cryptocurrency being left with worthless altcoins will play out. YoCoins owners, having already made their money, will wash their hands of any responsibility and claimthe value of the coin is out of their control.

Theyre not wrong. Only with the MLM opportunity having collapsed theres now no demand for YoCoin only an abundant supply.

Meanwhile you as a YoCoin affiliate get to watch your YoCoin value approach zero. YoCoin affiliates who dont earn enough in recruitment commissions to cover their initial YoCoin investment, lose out.

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SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards – Yahoo Finance

LONDON, March 22, 2017 /PRNewswire/ --Starting March 2017, the leading Bitcoin service providerSpectroCoinextends support to over 41 different cryptocurrencies. Users can now choose from a range of altcoins to load their SpectroCoin Wallet and Bitcoin debit cards. They can even use these supported altcoins to top up their mobile phones, buy gift vouchers or withdraw money using a variety of available methods. The 41 supported cryptocurrencies on SpectroCoin includes the existing Bitcoin and DASH options, along with the likes of Ethereum, Monero, LiteCoin, ZCash, Augur, and others.

The latest announcement takes SpectroCoin one step closer to its vision of becoming a service provider for a spectrum of alternative cryptocurrencies used for payments. The team behind SpectroCoin is consistently working from the past three years to make the company's vision a reality. The company started offeringbitcoin debit cardsto make it easier for people to spend cryptocurrency for their daily needs. These cards act as an alternative to standard fiat debit cards and can be used at any ATM or Point of Sale terminals accepting Visa or MasterCard cards across the world. Currently, SpectroCoin debit cards are the fastest and easiest way to spend the preferred cryptocurrency anywhere. It is also the most inexpensive prepaid debit card option available in the cryptocurrency industry, starting at as less as US$ 0.5 with no loading fee.

Since its inception three years ago, SpectroCoin began creating solutions around Bitcoin, the most widely used cryptocurrency at the time. Met with great success, the Bitcoin debit card is currently available in over 120 countries globally. The platform gradually started extending its services to include other cryptocurrencies, starting with DASH. The inclusion of DASH Wallet allowed users to send, receive payments and top-up the prepaid debit cards using DASH. SpectroCoin also offers DASH merchant solutions, allowing shops and businesses to accept DASH payments from customers and receive settlements in relevant fiat currencies (USD, EUR, GBP and more) over SpectroCoin merchant API and shopping cart plugins.

The addition of new altcoins is a result of the positive response and significant traction gained by the platform's DASH solutions. Users can now fund their SpectroCoin wallets with the supported altcoins and then use it to top-up the debit cards or exchange and withdraw it using one of the many withdrawal methods offered by the company. SpectroCoin will extend full support to these altcoins including wallets and payment processing solutions, on par with those currently available for Bitcoin and DASH.

SpectroCoin will continuously monitor the developments in the cryptocurrency industry and understand the ever-changing requirements of the community to create and deploy new solutions and extend support to new altcoins.

About SpectroCoin

Spectro Finance Ltd is developing innovative solutions for electronic payments. Currently, its portfolio consists of SpectroCoin.com Bitcoin exchange, wallet and payment processor and SpectroCard.com prepaid MasterCard solution for a link between cash and Internet. The SpectroCoin team consist of professionals in IT and Finance sectors with experience from institutions such as Bloomberg LP and Cambridge University.

Learn more about SpectroCoin at https://spectrocoin.com Get SpectroCoin Prepaid Debit Card at https://spectrocoin.com/en/bitcoin-debit-card.html SpectroCoin signup https://spectrocoin.com/en/signup.html SpectroCoin on YouTube-https://www.youtube.com/channel/UC5cWUFTcU7_vWwX1dX2to_Q

Media Contact

Contact Name:Ruta Cizinauskaite Contact Email:info@spectrocoin.com Location:London, United Kingdom

SpectroCoin is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Forget Bitcoin. The Blockchain Could Reveal What’s True Today and Tomorrow – WIRED

Slide: 1 / of 1. Caption: Getty Images

As far back as the 1880s, people stood on the curb outside the New York Stock Exchange taking bets on political elections, and newspapers would report the odds as a way of predicting the results at the polls. In the years since, economists refined the concept, and more recently, prediction markets have tapped into the wisdom of the crowds via the internet, forecasting everything from presidential races to sporting events to stock prices.

The concept took a hit in 2012 when a major site shut down amid financial irregularities and pressure from US regulators. But Silicon Valley hasnt given up on the idea. It now sees a new way of building markets that predict the future: the blockchain.

The blockchain is the global ledger that securely records transactions for the bitcoin digital currency, operating outside the control of any central authority. But so many startups and online communities are now applying the same concept to all sorts of other applications. For Joey Krug, the openness of a blockchain could deliver far more powerful prediction markets than ever before, spreading them to a much larger number of people, while keeping regulators at bay. Krug is one of the young technologists behind Augur, a San Francisco nonprofit working to build a service atop the Ethereum blockchain where anyone can launch or join these markets. It doesnt care where youre from, says Krug, a 21-year-old Thiel Fellow. All kinds of people can trade together that werent able to trade before.

Thanks to the counterintuitive dynamics that drive prediction markets, this could eventually create more specific and accurate predictionsan antidote to media pundits and pollsters who bear little cost for getting their forecasts wrong. You put your money where your mouth is, says Andrew Miller, a computer scientist at the University of Illinois Urbana-Champaign who specializes in cryptocurrencies. But like so many other technologists, financial traders, and other freethinkers working to create strangely fascinating new services atop the blockchain idea, Krug is looking even further ahead. He believes Augur, which is still under beta test, can eventually feed real-world truths into any other online application.

Though there are still many questions hovering over all these big ideasparticularly the bit about real-world truthstheyre gaining momentum. Krug and Augur built their operation with $5.3 million in crowdfunding, and others are exploring similar territory, including a service called Gnosis, another project called Bitcoin Hivemind, and even Microsoft, which now offers an Augur service that would allow businesses to run their own internal prediction markets, much as companies like Google already do.

A prediction market is like the stock market, except that youre not buying stock in companies. Youre buying stock in outcomes. Lets say Donald Trump is running for president. A prediction market lets you buy stock in a Trump win or loss. If your prediction comes true, you get paid. If your prediction proves wrong, you get nothing.

As in the stock market, you can also sell your shares. You aim to buy low and sell high. If enough people participate, the trading price of the stock should indicate the likelihood of an outcome. If a prediction pays out at $1 and Trumps stock is trading at 51 cents, that market predicts a 51 percent chance of a Trump victory. This odds-making reflects the efficient market hypothesis, an idea that won the Nobel Prize in economics in 2013. Prices capture information, says Erik Snowberg, an economist and political scientist at the California Institute of Technology. If you have information that says the price is too low, you buy and the price goes up. If you have information that the price is to high, you sell.

In theory, the better your information, the bigger the bet youll make. Using a blockchain, a service like Augur aims to enhance this dynamic by pushing markets across borders and removing all betting limits, roping in more people and more cash. Without such limits, people like Krug argue, the person with the best information can make their bets, which makes for a more accurate market. If you have bet limits, you cant have an informed trader come in and trade with enough capital to move the market and correct it, says Matt Liston, who helped create Augur and now works on Gnosis.

If enough people stake enough money on enough outcomes, betting their own digital currency that they know what will happen, these markets become a way of predicting the future. But thats only part of what Augur does. To pay out, prediction markets must know what happened. Did Donald Trump win or did he lose? In a more traditional prediction market, the house decides. But Augur takes a different path. Krug and his colleagues have also used their blockchain to create an engine for recording outcomes once they arrivea way of inscribing the truth in digital form.

Its not just about predicting what is in the future, Richard Craib, the founder of blockchain hedge fund Numerai, who has invested in Augur. Its about knowing what is happening in the present.

Heres how it works: After one group of people joins a prediction market and bets on an outcome, Augur pays others to identify that outcometo verify what happened. But it doesnt just pay them a flat fee. On its blockchain, Augur houses its own cryptocurrency, a digital token that encourages people to get things right. If youre not telling the truth, you stand to lose a bunch of money, Krug says.

Augur calls its digital token the Rep. This cryptocurrency doesnt let you buy and sell stuff. It tracks your reputationthat is, how often you tell the truth. People bet their Rep tokens that they are indeed telling the truthreporting the facts as they actually are. If most others agree, the system returns their tokens and pays them in cash. Its a way of aligning everyones aims in the same direction, the sort of arrangement that so often characterizes the new breed of business built atop a blockchain. Because its tied to real money, the Rep token ensures that everyone is pulling in the same directiontoward the truth.

Its not just about predicting what is in the future. Its about knowing what is happening in the present. Richard Craib

Theres always the risk that the majority will deny the facts, somehow overriding the monetary incentive. Enormous bribes could be a problem, for instance. There may be cases where you benefit by cheating, says Miller. If everyone goes toward the truth, you have an incentive to go along with the truth. But if everyone deviates from the truth, there is incentive to deviate. Still, many people seem to have faith in the idea. The Rep now enjoys a $89 million market cap, up from $50 million at the end of February.

Ultimately, Krug hopes to create a service that feeds more than just prediction markets. Augurs reporting engine, he believes, could serve as the foundation for other applications that rely on real-world data. As he explains, it could help automate any financial contract, from options and derivatives to insurance contracts and credit default swaps. Should you be paid because a company defaulted on its debt? Check the Augur blockchain to see if the company really did.

If Augur gains true scale, other possibilities arise. If, say, Trumps national security adviser steps down and Augurs Rep-funded reporters verify his resignation, that fact gets burned into a blockchain. Any application can then make use of this digital fact, from Wikipedia to Facebook to Google search results. In an age when fake news bounces around Facebooks echo chambers and presidential tweets see no difference between online hoaxes and the careful reporting of the New York Times, the possibility of creating a digital market for facts becomes a powerful idea.

Like so many ideas that bubble up from the world of bitcoin, the concepts behind Augur are both strange and perhaps overly optimistic. The instability of the Ethereum tokens that people use to make bets on these markets could undermine their accuracy, says David Rothchild, a researcher at Microsoft. And the Augur reporting engine, lacking a critical mass of participants, remains unproven. But in an age when so many people feel so unsure about not just the future but the facts in the present, such big ideas are at least worth a try.

Update: This story has been updated to show that Gnosis is not technically a spinoff of Augur.

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