Factom to receive $192k from DHS for Beta Test Concept

The Department of Homeland Security gave Factom, a blockchain startup, $192,380 to start beta testing their concept to secure Internet of things (IoT) data
22 June 2018   727

The $192,380 prize money was except for the final phase of the Silicon Valley Innovation Program (SVIP). Factom hopes that by combining critical infrastructure like sensors and cameras with blockchain technology, it can assist to protect the authenticity and continuity of the data. When the project leverages blockchain technology, it “does not require the creation of blockchain-specific technology.”

The early phases of Factom’s work has informed architecture choices and design decisions inherent in integrating blockchain with existing technology. In Phase IV, Factom will deploy this technology in a realistic field environment with Customs and Border Protection (CBP) to understand its operational impacts.
Anil Jon
S&T Identity Management Research and Development Program Manager

With the results of the beta test Factom will be able to access its impact in an outside environment. The idea is to imitate the conditions that US Border Patrol Agents conduct in that include limited internet connectivity and differing weather conditions. 
Factom is aimed to demonstrate that IoT devices can be highly dependable from ground sensors and cameras and that the data they capture cannot be modified, spoofed or disrupted. If Factom prevails, they will produce a more commercially viable product available to the market.

Factom is not the only firm that sees a great possibility to secure data from smart devices using blockchain. In January 2017, Cisco, Bosch, the Bank of New York Mellon, Foxconn, Gemalto, and several blockchain startup companies, decided to work together to establish a similar system that leverage blockchain technology and IoT.

Binance Launchpad to Change IEO Rules

Binance is going to implement the lottery format for the next tokensale campaign
25 March 2019   65

Binance announced a change in the format of the next tokensale on the Launchpad platform to a lottery. At the same time, the number of lottery tickets per account will depend on the size of the steak in the BNB for 20 days before IEO.

Note that one account can get up to 5 lottery tickets. Winners will be selected by randomizer.

BNB Balance to Lottery Tickets Ratio
BNB Balance to Lottery Tickets Ratio

It is noteworthy that within 20 days before the lottery, the BNB-deposit snapshot will be carried out daily at 0:00 UTC to monitor the fulfillment of the conditions.

Each winning ticket will grant the right to purchase tokens for a fixed amount in BNB equivalent. As soon as the user informs the exchange that he is ready to use a certain number of tickets in case of their winnings, this obliges him to purchase tokens and the money will be debited automatically.

Binance acknowledged that the price of BNB may fluctuate due to daily snapshots, and its potential decline may not be covered by the benefit from the new token, and encouraged users to make informed decisions.

In addition, Changpeng Zhao urged the community to comment on the new format in a separate Twitter thread in order to make the necessary feedback-based changes, if needed.

During the Celer Network tokensale on the Launchpad platform again had bandwidth problems; many people did not manage to purchase tokens.