Lightning Jukebox by Blockstream Presented

Lightning Network brings new life to a classic machine
29 March 2018   513

Blockstream introduced the final Lightning application within the "LApps Week" - the Lightning Jukebox. As the developers note, the application is more entertaining - it is intended to serve as a good example of how even such an archaic device can be upgraded with the help of Lightning Network technology.

Lightning Jukebox - a modern version of jukeboxe, which can usually be found in bars and other similar establishments. For a modest fee, visitors can choose and include their favorite song. The main differences between LApp and traditional mechanical devices are payment using the Lightning Charge system and QR code, and the terminal plays not only audio, but also video-music tracks are broadcasted from YouTube.

The developers note that the Lightning Jukebox is a great example of creating Lightning Charge applications. The program consists of only 128 lines of code and demonstrates how easy it is to integrate a system of micropayments based on Lightning. In addition, LApp provides an overview of how services can be monetized in the Lightning Network.

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   93

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.