Artificial Intelligence & Machine Learning Creating Multi-billion Dollar Opportunity With Infusion of Blockchain Technology
PALM BEACH, Florida, August 16, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
It has become increasingly apparent that there is a tremendous opportunity when it comes to infusing artificial intelligence (AI) and blockchain platforms. AI, otherwise known as machine learning in some circle, as the ability to take blockchain operations and effectiveness to the next level. Alternatively, blockchain technology can also work in the opposite direction, allowing cutting-edge tech leaders to understand AI in greater depths and essentially create more efficient and smarter intelligence platforms. By decentralizing the market, blockchain and AI will work together to make transactions more secure, while simultaneously generating large amounts of new revenues. Already multi-billion dollar industries on their own, blockchain and AI are poised to benefit on a high scale financially as the two become more intertwined. Active companies today include: Block One Capital Inc. (TSX-V:BLOK) (OTC:BKPPF), HIVE Blockchain Technologies Ltd. (TSX-V:HIVE) (OTC:HVBTF), Pareteum Corporation (NYSE:TEUM), MGT Capital Investments Inc. (OTC:MGTI), Oracle Corporation (NYSE:ORCL).
Block One Capital Inc. (TSXV:BLOK.V) (OTCQB:BKPPF) BREAKING NEWS: Block One Capital, an investment company focused on early stage and high growth opportunities in the blockchain sector, is pleased to provide the following corporate update.
Block One has named Mr. Sivakumar V. Arumugam as Director of Research.
Mr. Arumugam is currently an affiliate with the Department of Philosophy of Science at Cambridge University, researching the contemporary uses of data science in industry. He was previously a Mellon Postdoctoral Research Fellow at University of Chicago researching technologies underpinning the rise of data science, big data, and machine learning. Mr. Arumugam completed his PhD at Columbia University analyzing the use of technologies to regulate and optimize commercialized contemporary sports. He is active in the cryptocurrency space and as a market-maker in both the spot and futures markets. Mr. Arumugam began his career on the US Treasuries market-making desk at PaineWebber, now part of UBS, before pursuing a career in academia. He has published and presented numerous papers on the history and culture of probability, financial markets and scientific disciplines.
"With artificial intelligence and machine learning being critical elements of the next generation in blockchain architecture and application development, having Sivakumar on the Block One team helps us effectively evaluate investment opportunities in these areas," said Mr. Sothi Thillairajah, CEO of Block One. Read this and more news for Block One Capital at: http://www.marketnewsupdates.com/news/blok.html
In other industry news and developments:
HIVE Blockchain Technologies Ltd. (TSX:HIVE.V) (OTCPK:HVBTF) recently announced it will launch 200 Petahashes ("PH") of cloud based SHA-256 mining power ("Cloud Mining") in September 2018 . The Cloud Mining is an amendment to the terms of HIVE's previous December 2017 agreement with Genesis Mining Ltd. ("Genesis") to add 200 PHs of SHA-256 capacity in Sweden . Under the revised agreement, 200 PHs will be provided pursuant to a cloud hosting arrangement until delivery of the mining rigs occurs within the next twelve months. The amendment allows for lower operating costs than was previously expected of taking delivery of the miners in Sweden and gives HIVE flexibility to install the future delivery of the mining rigs in an advantageous region, which is anticipated to be in a facility in North America . As previously announced, production is expected to commence on September 30, 2018. The strategic decision to implement cloud based deployment with its technology partner, Genesis, allows the Company to benefit from more cost-effective mining operations and enhances HIVE's operational flexibility by enabling the Company to more quickly adapt to changing network conditions across multiple geographies.
Pareteum Corporation (NYSE:TEUM) earlier this week announced that a British multinational conglomerate group company based in London, United Kingdom (UK), has selected Pareteum's Global Software Defined Cloud (GSDC) in a 3-year $3.5 Million Agreement to offer mobile and wireless connectivity services to their retail customer base, expanding services across the UK. The group owns the UK's second largest wholesaler serving 125,000 independent retailers from 64 warehouses nationwide, and additional businesses in the UK and other geographies. Pareteum's GSDC enables our new British multinational customer to operate from an integrated software platform and to offer services to its full group of companies for Cloud Enabled Mobility services. Under the terms of the contract, service deployment is expected by the end of September 2018, and, 2018 revenue contribution from this agreement is expected at approximately $125,000. The balance of the backlog is expected to be recognized over the ensuing 33 months from January 1, 2019, and, may exceed the backlog balance on this one contract based upon more connections (subscribers) being activated, and more variable data usage consumption.
MGT Capital Investments Inc. (OTCQB:MGTI) recently announced that it entered into a collaborative venture with Bit5ive LLC to design and manufacture a crypto mining pod capable of operating 1MW of mining hardware. The pod will be branded and sold by Bit5ive as POD5, with MGT retaining naming rights for its corporate owned pods. In return for royalty payments from Bit5ive, MGT is providing its engineering and design expertise as well as capital to develop the final production model. Orders are expected to begin in mid-September 2018. The POD5 will be a fully-assembled containerized turnkey solution with all mounting racks, cabling, power distribution hardware, wiring, and networking included. In addition, the POD5 will offer a proprietary cooling method allowing for maximum density within the container. Stephen Schaeffer, Chief Operating Officer of MGT commented, "We believe that the 1-megawatt layout allows for both portability and flexibility to accommodate varying deployments in different locations. We fully intend to utilize the design in the future expansion of our Bitcoin mining operations."
Oracle Corporation (NYSE:ORCL) in the news: Oracle, a company not exactly known for having the best relationship with the open source community, is releasing a new open source tool today called Graphpipe, which is designed to simplify and standardize the deployment of machine learning models. The tool consists of a set of libraries and tools for following the standard. Vish Abrams, whose background includes helping develop OpenStack at NASA and later helping launch Nebula, an OpenStack startup in 2011, is leading the project. He says as his team dug into the machine learning workflow, they found a gap. While teams spend lots of energy developing a machine learning model, it's hard to actually deploy the model for customers to use. That's where Graphpipe comes in. He points out that it's common with newer technologies like machine learning for people to get caught up in the hype. Even though the development process keeps improving, he says that people often don't think about deployment. "Graphpipe is what's grown out of our attempt to really improve deployment stories for machine learning models, and to create an open standard around having a way of doing that to improve the space," Abrams told TechCrunch. Read the full story here [https://techcrunch.com/2018/08/15/oracle-open-sources-graphpipe-to-standardize-machine-learning-model-deployment/?yptr=yahoo ]
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