#CryptoCorner: Amazon (NasdaqGS: $AMZN) Patents “Distributed Ledger Certification,” DMG Blockchain (TSXV: $DMGI.V) Orders Additional 1,000 Miners

#CryptoCorner: Amazon (NasdaqGS: $AMZN) Patents “Distributed Ledger Certification,” DMG Blockchain (TSXV: $DMGI.V) Orders Additional 1,000 Miners

Point Roberts, WA, Delta BC, June 1, 2020 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.

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Stocks discussed: (NasdaqGS:AMZN) (TSXV:DMGI) (NYSE:ACN)

Amazon’s (NasdaqGS:AMZN) patent filing for a “Distributed ledger certification” was approved by the U.S. Patent and Trademark Office on May 26, according to a report from CoinDesk. The patent filing’s abstract reads:

Features are disclosed for an interface for verifiable tracking of an item through a supply chain using a distributed electronic ledger. For example, when an item is added to a catalog system, the item information may be included in the creation element at the start of the ledger for the item. A certification authority may be included to verify that items received correspond to the item included in the catalog based on one or more certification rules. If a certification rule is satisfied, a record may be added to indicate transfer of the item from a provider to the catalog system. The certification information may be dynamically presented with item description information such as in response to searches of the catalog system.

Crypto mining hardware giant Bitmain announced the launch of its Antminer T19 in an official blog post today. It is the third model in the company’s next-gen Antminer 19 series. Riccardo Mori, a Venezuela-based miner, told Cointelegraph:

“With the introduction of the T19 we can expect the network hashrate to substantially rise and consequently the mining difficulty to rise as well. This will lower the profitability and extend the expected ROI time once again.”

DMG Blockchain Solutions Inc. (TSXV:DMGI) recently ordered an additional 1,000 M30s miners. The press release indicates that “this deployment will increase DMG’s latest mining technology to 110 petahash,” and that it has added “90 petahash towards its stated 2020 year-end goal of 500 petahash of self-mining.” The company’s CEO, Dan Reitzik, explained:

“Our stated goal for self-mining in 2020 is 500 petahash of [the] latest  ASIC mining technology. This deployment will add approximately 90 petahash to our existing fleet. We will continue to deploy more self-mining as opportunities arise. The new fleet is expected to be energized by mid-June 2020. The recent volatility in Bitcoin (“BTC”) prices demonstrate why industrial miners need to constantly deploy the most efficient technologies. Our newest miners are very efficient, even at the current depressed BTC price.”

Cointelegraph reports that a white paper from the Digital Dollar Project – a partnership between Accenture (NYSE:ACN) and former leaders of the Commodity Futures Trading Commission (CFTC) – has been released, which lays out potential applications of a USD-based central bank digital currency (CBDC). In addition to discussing various use cases for such a currency, former CFTC fintech office head Daniel Gorfine characterized its potentially decentralized structure to Cointelegraph:

“Relying primarily on the private sector and regulated banks and money transmitters seems like a much better approach.  Public solutions would only make sense if there are remaining gaps and problems to solve for. [...] If you think about the way the Fed developed, it was attempting to decentralize the federal banking system and related policy decisionmaking.”

Sam Mowers, Investorideas

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