SBI Holdings partners with Huobi

Financial services company based in Tokyo partnered with Huobi to develop cryptocurrency-related business in the Asian region
07 December

Today SBI Holdings, a financial services company group based in Tokyo, published a document, stating that SBI has reached a basic agreement on capital and business partnerships with Huobi Group.

Huobi Group currently operates cryptocurrency-related businesses including, a cryptocurrency exchange platform, as well as digital assets exchange platform, information and research service business and wallet services for cryptocurrency management.

According to the document, SBI Holdings will use of Huobi Group’s technology and human resource on developing the cryptocurrency-related business in the Asian region. SBI also intends to acquire 30% of equity in Huobi Group’s Japanese entity and 10% of equity in Huobi Group’s Korean entity while Huobi plans to acquire 30% of equity in SBI Virtual Currencies, a subsidiary of SBI Holdings.

In October SBI Holdings announced its intention to go deeper into the world of blockchain and build a "new financial ecosystem based on cryptocurrencies".

Intel to Apply Blockchain Mining to Genetic Sequencing

Intel intends to utilize the energy expended during cryptocurrency mining for the sequencing of genetic data
15 December

Yesterday the U.S. Patent released a patent application called "Blockchain System with Nucleobase Sequencing as Proof of Work". In the application Intel’s inventors describe a type of computer called a sequence mining platform (SMP) which would identify the order or nucleobases in a deoxyribonucleic acid (DNA) or ribonucleic acid (RNA).

Nucleobases are the molecules that make up DNA and RNA, which contain the genetic information within every living organism on the planet. The order of these bases determines what physical traits a person, plant or animal features.

The patent application states that the SMP would use a nucleobase sequencing unit to actually establish the order of nucleobases in a given sample, which would then be verified by the blockchain before being permanently recorded on it.

The POW algorithm will be used to both identify the sequence and subsequently verify it, according to the application, and the sequence recorded on one block would be used as a base for the POW problems in the next block.