A new blockchain-as-a-service platform launched in China

Chinese government-backed Research Institute has presented their blockchain-as-a-service platform for data storage and verification
27 March 2018   351

Nowadays everybody tries to move to blockchain it seems. And the Chinese are going even further with this notion. Recently China Banknote Blockchain Technology Research Institute has debuted the new system called Blockchain Registry Open Platform (BROP for short). It's a platform for identity and supply-chain tracking utilizing blockchain-as-a-service (BaaS) approach.

Of course, it's not the first BaaS platform ever developed, with several other companies having their own flavor of the same thing. But in the case of BROP the significant difference lies in the developer's official connections. The Research Institute is quite strongly tied to Chinese government and has a luxury of their backing on such projects.

The aim of the new platform is to build the environment for a trustworthy collaboration. It is achieved by establishing verifiable digital identities, storing trusted data on the blockchain and providing digital vouchers which would verify agreement rights on the blockchain.

It can be used to store data and provide track record for the changes made. Also developers have presented plans to utilize their project to make public services more optimized and transparent for the government and the users.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   137

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.