Bitcoin This Week: Boeing To Use Blockchain, BlackRock Examining Crypto Markets And More
Blockchain Startup Receives $1 Million Grant
A blockchain startup in the United States has been awarded a grant of just under $1 million to assist its efforts to establish a decentralized energy grid. Grid7, a Colorado-based startup had previously been awarded $150,000 from the US Department of Energy. Grid7 aims to use a decentralized system to promote energy efficiency, while also protecting the network against cyber attacks.
IBM And Columbia University To Launch Blockchain Center
Staying in the United States, tech-giant IBM revealed this week that it has partnered with Columbia University to launch a center dedicated to the research and development of blockchain technology. The Columbia-IBM Center for Blockchain and Data Transparency will “combine cross-disciplinary teams from the academic, scientific, business and government communities to explore key issues related to the policy, trust, sharing and consumption of digital data when using blockchain and other privacy-preserving technologies.”
Boeing To Use Blockchain To Pilot Unmanned Aircraft
IBM isn’t the only giant corporation making moves in the blockchain sphere. This week saw two announcements that provide further evidence of the technology’s exciting potential.
It may sound like science fiction, but Boeing announced this week that it had partnered with AI leader, SparkCognition to deliver unmanned aircraft systems. The two companies plan to use artificial intelligence and blockchain technologies to track unmanned aircraft in flight and allocate traffic corridors and routes to ensure safe, secure transportation.
Asset Management Giant Examining Blockchain
As if that wasn’t enough to keep blockchain baters quiet for another week, one company that has been very critical of Bitcoin in the past appears to have done an about turn. BlackRock, one of the world’s leading asset management companies, is reported to be examining ways it can take advantage of the cryptocurrency market. The news was reported by Financial News London and may have been one of the factors behind Bitcoins price surge at the start of the week.
Bull Making A Return?
Sticking with the Bitcoin Market, it’s been quite a week so far, with the crypto gaining more than a thousand dollars over two manic days. Opening Monday at a modest $6357, a $400 gain over a period of two hours saw it close at $6741. Tuesday was even better, crashing through the $7000 mark before closing at $7321. And Bitcoin wasn’t finished climbing. By Wednesday analysts were talking about the bull being back as it headed towards the $7500 as market closing approached.