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South Carolina Blockchain Competition Advances State's Technology Ambitions

South Carolina Blockchain Competition Advances State's Technology Ambitions

                 

Technology Challenge, Cash Prizes, World Class Judges and International Invitation to Kick Start Blockchain Innovation in South Carolina

Charleston SC - South Carolina Blockchain, PalmettoChain, Inc., and the McNair Institute for Entrepreneurism and Free Enterprise at the University of South Carolina are co-sponsoring the inaugural South Carolina Blockchain Entrepreneurship Challenge.

“Our goal is to inspire entrepreneurs and innovators to apply blockchain technology to industries like supply chain, agriculture, real estate, transportation, law, and many more,” said Dr. Dirk Brown, Faculty Director, McNair Institute for Entrepreneurism and Free Enterprise.

“We want to encourage all South Carolinians, University of South Carolina students, and teams worldwide to develop and propose next generation solutions to present-day problems,” said Dennis Fassuliotis, PalmettoChain, Inc., Executive Director and co-founder of South Carolina Blockchain, Inc. “This is a world-class competition intended to focus on our state’s emerging tech industry and also encourage introductions and partnerships with teams from other states and around the world.”

Up to $6,000 in prize money is available, including a special bracket for University of South Carolina student-driven entries. Ideas will be developed online in StartupWind, using an idea concept card, a business model canvas, a proof-of-concept submission, and a budget.

Idea canvases will be judged by blockchain industry leaders, including W. Scott Stornetta, indisputably, one of the founding fathers of blockchain technology, and Shawnna Hoffman, Global Blockchain Offering Leader for IBM Watson Health. Other judges include Gerald Gallagher, Dr. Gerald Dwyer, Francoise Birnholz, Patrick Hidalgo, Eric Thome, Kim Christ, Jacob Hall, Audra Hall and other seasoned investors and entrepreneurs. Submissions will be evaluated on (1) how compelling the idea is; (2) presentation of blockchain use-cases with South Carolinians in mind; and (3) how realistic the solution is to implement.

The competition was formally announced at the Resilience SC 2020 Virtual Blockchain Conference hosted by South Carolina Blockchain, Inc. on July 15, 2020. Details of the competition can be found at https://southcarolinablockchain.org/challenge/. A complete record of the live conference can be found on the South Carolina Blockchain YouTube Channel here: https://www.youtube.com/watch?v=FreRa4b9sFY&t=3s.

A separate student bracket of the competition is open to University of South Carolina students, including all campuses and the Palmetto College. Individuals and teams of any size may submit idea canvases and proofs-of-concept utilizing a blockchain platform of their choice. A dedicated portion of the award money is reserved for UofSC students and student teams will also be eligible for the public bracket prizes. Please read the eligibility, entry, judging and additional terms before submitting your idea canvas and proof-of-concept.

The competition is open to teams worldwide, however, to inspire its economic development initiative, one member of the team must be a SC resident.

Entries are due Wednesday, August 12, 2020, at 11 p.m. EST.

Winners will be announced August 19, 2020.

Visit their webpage to get started on your application.

For more information, contact Katherine Swartz Hilton at kmswartz@mailbox.sc.edu,

803.777.1717 or Mark Driver at mark@southcarolinablockchain.org, 478.607.9173.

About South Carolina Blockchain, Inc. and Palmetto Chain, Inc.:

South Carolina Blockchain, Inc. is a Public-benefit corporation (B-Corp) focused on educating South Carolinians and others about practical applications, use-cases and opportunities for blockchain technology in the Palmetto State. By highlighting projects, partnering with educators, fostering a blockchain community and evangelizing on blockchain-related emerging technologies; South Carolina Blockchain, Inc. seeks to promote economic development in the state through evolutionary and revolutionary innovation and entrepreneurism.

Separately, Palmetto Chain continues to focus on advocacy and legislative initiatives to promote a conducive regulatory framework for blockchain-enabled technologies, primarily cryptocurrencies and coin offerings, which represent a critically important foundation and functionality underpinning future blockchain business solutions. PalmettoChain, Inc., was founded in 2018, and is a SC non-profit association also supporting the development of the State’s own blockchain utility to serve the governments, businesses and citizens of South Carolina.

Media Contact: Dennis Fassuliotis, Executive Director, Palmetto Chain, Inc., Co-founder of South Carolina Blockchain, Inc. 843.270.1016 dennis@southcarolinablockchain.org.

About the McNair Institute for Entrepreneurism and Free Enterprise at the University of South Carolina

The McNair Institute for Entrepreneurism and Free Enterprise at the University of South Carolina promotes scholarly activity, educates students about the role of free enterprise and entrepreneurship in enhancing economic growth, and encourages students to contribute and participate through entrepreneurship in creating a better America.

The Institute is funded through the generosity of Robert and Janice McNair Foundation which also funds centers at multiple other universities across the nation supporting entrepreneurship and free enterprise education. Under the guiding vision of Robert and Janice McNair, the foundation is committed to developing a new generation of entrepreneurial leaders who have both the technical skills and the philosophical understanding of how the free enterprise system forms the basis of economic opportunity and prosperity for individuals in our country.

Eligibility:

Public Bracket

    • Individuals or teams must have one resident of South Carolina or must have at least one eligible UofSC student (who is not necessarily a South Carolina resident).
    • Teams must include a basic demonstration proof of concept utilizing either:
      • blockchain development tools introduced by competition organizers; or
      • b) any other recognized blockchain platform of the team’s choice

UofSC Student Bracket

    • Any teams comprised exclusively of enrolled undergraduate and graduate University of South Carolina students in good academic and judicial standing on all UofSC campuses are eligible.
    • UofSC teams are also eligible for awards in the public bracket.

The competition is open to individuals and teams of any size.

Entries:

    • The deadline for entry is Wednesday, August 12, 2020, at 11 pm EST.
    • Entries will be made through the Startup Wind platform in a private and secure cohort.
    • Entry includes five required parts: Team member(s’) contact information (and academic information if competing in student bracket), an idea concept card, a business model canvas, a proof-of-concept demonstration, and a budget. A template will be provided for the budget.
    • Multiple entries per individual or team are allowed.
    • There is no entry fee.
    • Terms are posted in the competition.

Selection of Winners:

    • Entries will be judged by a panel of experts including seasoned entrepreneurs, blockchain enthusiasts, investors, and staff from South Carolina Blockchain and the McNair Institute.
    • Idea canvases and demos will be judged based on (1) how compelling the idea is; (2) the return on investment or impact per dollar; (3) how realistic the solution is to implement and scale, and (4) the level of detail and sophistication of the demonstration proof-of-concept
    • Winners will be announced on August 19, 2020.

Additional Terms:

    • Submissions will only be visible to judges, South Carolina Blockchain and McNair Institute staff, and Startup Wind staff during the entry and selection phases of the competition.
    • Winners agree to allow South Carolina Blockchain, Inc., Palmetto Chain, Inc. and the McNair Institute for Entrepreneurism and Free Enterprise at the University of South Carolina to publicize winners’ idea summary statements, photographs, and project results beginning with the announcement of winners.
    • All winners must abide by all federal, state, local, and University of South Carolina mandates.
    • Prize money up to $6,000 will be awarded. The amount of each prize to be determined by South Carolina Blockchain, Palmetto Chain, Inc., and McNair Institute for Entrepreneurism and Free Enterprise at the University of South Carolina. Awards will be based on several factors including an estimate of total funds needed to complete the project, feasibility, scalability, return on investment, type of mitigation to be made, and the amount allocated toward personal expenditures. The size of the team is not a factor in determining the amount of prize money awarded.
    • Payment of prize money will be issued in the form of a check or direct deposit after a W-9 is received. Payment will be made as quickly as possible, but due to limitations placed on staff during the COVID-19 pandemic, it is not possible to predict when payment will be issued.
    • Prizes of $600.00 or more are taxable, and it is the winner’s responsibility to pay taxes on winnings received. An IRS Form 1099 will be sent to each winner as applicable.
    • If a winning team has formed a legally recognized business, payment of prize money will be made to the business. The IRS Form 1099 will be sent to the business for payment of taxes as applicable. If the winning team has not formed a business, the team leader designated in the competition entry information will be sent the prize money and IRS Form 1099 as applicable.
    • Student bracket winners will be required to provide an interim or final report to the McNair Institute by February 15, 2021, including action taken, impact made, use of funds, engagement with advisors, testimonials from winners and those impacted by the project, and photographs of the project. A report template will be provided. 

Legal and Marketing Releases:

    • By participating in this Blockchain Entrepreneurship Challenge co-hosted by South Carolina Blockchain, Inc. (“SCB”), each Participant grants SCB and its licensees, successors and assigns a non-exclusive, perpetual, non-cancelable, royalty free, fully paid up, worldwide right and license to edit, modify, adapt, translate, exhibit, publish, transmit, participate in the transfer of, reproduce, copy, create derivative works from, distribute, perform, display and otherwise use all and/or any part of such Participant’s names, likenesses, photographs, voices and images of all persons referenced and/or appearing in materials generated at the event, without limitation, anywhere in the world in any form (tangible or intangible, permanent or ephemeral, including, without limitation, audio, video, print, electronic, written, and photographic) and via any transmission medium (including, without limitation, television, radio, Internet, and print) now existing or that may exist in the future for advertising, trade, promotion, publicity and other related purposes without compensation and without notice to or consideration, review or approval from Participant.
    • Each Participant further agrees to:
      • (i) be questioned or interviewed (whether in person or by other means such as email or phone), filmed and/or photographed and available for interviewing, filming, photography and for other public relations, marketing and promotional activities associated with the Blockchain Entrepreneurship Challenge, as reasonably requested and directed by SCB;
      • (ii) allow SCB to make contact with the Participant (whether in person, by phone, email or otherwise) to request further information from the Participants concerning their participation or for any other purpose related to the Blockchain Entrepreneurship Challenge. Each Participant represents and warrants that neither its participation, nor SCB’s exercise of any of the rights granted to it under these Additional Terms will:
        • (a) infringe or violate any rights of any third party or entity, including, without limitation, those relating to patents, copyrights, trademarks, trade secrets, moral rights, mask works, defamation, privacy, publicity, false light, misappropriation, confidentiality, and/or any contractual or other rights recognizable under any applicable law, rule, regulation, ordinance, judgment or decree (collectively, “Law”), or
        • (b) otherwise violate any applicable Law.

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The benefits of Ethereum 2.0 will come sooner rather than later according to Vitalik Buterin

The benefits of Ethereum 2.0 will come sooner rather than later according to Vitalik Buterin

Quick take

1 minute read

  • Vitalik Buterin, has recently answered a number of questions from the community as a part of a “ask me anything“ session on Reddit. 
  • The co-founder highlighted many different topics but specifically said that he expects some significant and noticeable network improvements to come for the project sooner rather than later. 

Vitalik Buterin, the co-founder of one of the biggest crypto projects in the industry known as Ethereum has recently answered a number of questions from the community as a part of a “ask me anything“ session on Reddit. The co-founder highlighted many different topics but specifically said that he expects some significant and noticeable network improvements to come for the project sooner rather than later. He further said:

“TLDR: merge happens faster, PoS happens faster, you get your juicy 100k TPS faster.”

Over the years, the network for Ethereum has experienced some significant rounds of high congestion. Three years ago in 2017, the popular CryptoKitties game slowed down the network massively but with the decentralised finance space growing rapidly, the network has been seriously clogged up.

As a result of this, it has led to high fees and longer than average confirmation times.

With Ethereum 2.0 very much just around the corner, there is a significant scaling upgrade solution that is supposedly going to speed up the network rapidly. This will increase the number of transactions per second and it will also move the blockchain to a different consensus algorithm known as a proof of stake. Phase 0 for the upgrade is set to occur on the 1st of December in two weeks!

The co-founder further went on to say that “all of these changes are designed to decrease the time until eth2 becomes useful to people.” 

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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The second richest man in Mexico invest 10% of his portfolio into BTC

The second richest man in Mexico invest 10% of his portfolio into BTC

Quick take

1 minute read

  • Ricardo Salinas Pliego is the second wealthiest businessman in Mexico and the 166th richest man in the world. 
  • It was recently announced last week that he has invested 10% of his liquid portfolio into the leading cryptocurrency, bitcoin. 

Ricardo Salinas Pliego is the second wealthiest businessman in Mexico and the 166th richest man in the world. It was recently announced last week that he has invested 10% of his liquid portfolio into the leading cryptocurrency, bitcoin. This came after he shared a video throwing huge amounts of paper money into the garbage. Not only does it show how worthless the government-issued cash is in today’s world but it also shows how important digital assets such as bitcoin could become.

Furthermore, the video indicates the hyperinflation and how bad it got in Venezuela.

Ricardo is worth more than $11 billion at the time of writing and is the only billionaire from Mexico who seems to have benefited from the coronavirus pandemic and the economic crisis that has come as a result.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Coinbase co-founder, Fred Ehrsam set to join Fireblocks as a member of the board

Coinbase co-founder, Fred Ehrsam set to join Fireblocks as a member of the board

Quick Take

1 minute read

  • Fred Ehrsam, the co-founder of the crypto platform known as Coinbase is getting ready to join the digital asset security platform Fireblocks. 
  • It was announced last week that Fred would be joining the board following a recent round of funding.

Fred Ehrsam, the co-founder of the crypto platform known as Coinbase is getting ready to join the digital asset security platform Fireblocks. It was announced last week that Fred would be joining the board following a recent round of funding.

The co-founder of the well-known crypto platform is getting ready to join the company as a board member following a $30 million funding ground to help expand its operations on an international level.

Throughout 2020, Fireblocks has launched a secure asset transfer network which would allow more institutions to efficiently transfer assets on chain. And on top of this, the platform also announced that it has seen more than $150 billion in transferred assets over the course of the past year. Fred has said:

“Fireblocks has become the go-to for any business looking to build new digital asset operations or scale existing ones… The extraordinary growth of the Fireblocks Network and its team in the last year attests to the enormous value they have unlocked for enterprise and institutional customers.”

 

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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XRP Price Analysis: XRP Continues Correcting

XRP Price Analysis: XRP Continues Correcting

This analysis brought to you by RoboForex.

On Friday, November 27th, XRP has reached stability but is still correcting and trading at $0.5550.

As we can see in the daily chart, after finishing a quick rising wave, XRP/USD price is correcting to the downside. At the moment, the asset is trading close to 61.8% fibo, a breakout of which will indicate further pullback towards 50.0% fibo. The MACD histogram has broken 0 and is still moving to the upside – it may be another signal in favor of a new rising impulse. The upside target of the completion of the correction will be at 0.6800.

In the H4 chart, the cryptocurrency continues correcting to the downside. Right now, it is testing the support level, a breakout of which will result in further decline towards 50.0% fibo. The Stochastic indicator has formed a “Black cross” inside the “overbought area” and is still falling, which is an additional signal in favor of further decline towards 50.0% fibo. After completing the correction, the asset may test and break 61.8% fibo, and then continue trading upwards. The upside target is similar to the daily chart, 0.6800.

Ripple started its rally on November 20th, together with other cryptocurrencies. There are a lot of explanations of why it happened, from investors’ search for alternatives to fiat instruments to a surge in interest in cryptoassets from institutional players. Indeed, all of this really took place and, of course, expansion of the interest was in favor of cryptocurrencies. The entire market is on the rise but since “trees don’t grow sky-high”, active purchases faded to the correction.

Over this period of time, XRP has managed to update its high reached in May 2018. The asset is still moving like 80% below the highs of January 2018, when it was trading at $3.7, but investors are surely positive about further growth.

At the moment, XRP is back to third place in the list of the strongest and most popular cryptoassets.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

 

Disclaimer

Any predictions contained herein are based on the author's particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

 

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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