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The US Air Force Wants to Use Blockchain Tech for Flight Battle Systems

Pilot in a Flying Cabinet with Streaks of Blockchain Shooting out

The U.S. Air Force’s (USAF) continuing series of blockchain investments is entering the space of battle management systems using the technology, according to news outlet Coindesk. US Air Force Looks to Blockchain Raytheon BBN Technologies said in a statement this week that it won a $495,039 contract titled: “Characterizing the applicability and relevance of DLT

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The U.S. Air Force’s (USAF) continuing series of blockchain investments is entering the space of battle management systems using the technology, according to news outlet Coindesk.

US Air Force Looks to Blockchain

Raytheon BBN Technologies said in a statement this week that it won a $495,039 contract titled: “Characterizing the applicability and relevance of DLT (Distributed Ledger Technology) in Air C2” (CARDIAC) from the Air Force Research Laboratory (AFRL).

As per details, the contract means Raytheon scientists and researchers will consider how blockchain and distributed ledger technology can benefit a commander’s ability to keep their eyes on the skies and their pilots safe.

However, while the application is promising and the funding, the involved parties, and the main topic are known, little information exists at press time on the full extent of the project and whether it would move to development stages anytime soon.

However, Colonel Neil Barnas told CoinDesk that using blockchain technology could be an asset for the USAF’s C2. He added that distributing otherwise centralized systems makes them less vulnerable to enemy attack.

Speaking in a personal capacity, he said:

“If you have the one command and control system to rule them all you’ve really just created a target.”

Funding New Technologies

The USAF has made clear this year that it is preparing to spend millions of dollars on modernizing C2. “Highly advanced and lethal tools” help airmen “to prevail in the high-end fight,” officers wrote in their FY2021 budget overview, noted the report.

It added that the document requested $435 million for an “Advanced Battle Management System” that links USAF and Space Force’s war-fighting capacity.

Raytheon’s past blockchain projects have included a deal with Forcepoin, a division of the company, which saw it win a blockchain-based patent that described a complex user behavior monitoring and management system. 

The system would aim to store data about electronically-observable user interactions and used that data to enhance cybersecurity.

Meanwhile, the US Department of Defence is also big on using a blockchain approach to help it beef up its cybersecurity protection. As per a report, the Pentagon wants to explore the potential of a distributed ledger as part of a wholescale digital modernization strategy it announced as part of a roadmap of change out to 2023 it released earlier this month.

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Source: https://btcmanager.com/us-air-force-blockchain-tech-flight-battle-systems/

Blockchain

Bitcoin Shakes Off Dollar Rebound But Beware Of Coming Bear Phase

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Bitcoin has barely flinched in the face of the dollar’s best attempt at a rebound in over a year. The greenback is trying to stage a comeback against the top cryptocurrency, which has left the global reserve currency battered and beaten.

Although Bitcoin has fended off the advance in USD, if history repeats and the dollar surges, a short term » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear phase could be coming to the crypto market soon.

The Badly Beaten Dollar Begins Breakout And Bounce

2021 thus far has been Bitcoin’s best year on record. 2020 was among the dollar’s worst as sentiment turned negative and inflation fears pushed investors toward hard assets like gold and crypto.

However, according to the DXY Dollar Currency Index, which weighs the dollar against a bucket of other national forex currencies, a comeback is in the making.

dollar dxy bitcoin

The dollar is breaking out from a falling wedge. Will crypto respond? | Source: DXY on TradingView.com

The chart above shows the DXY breaking out from a falling wedge pattern, and coming back down to retest the former resistance line as support. With the retest complete, a stronger push higher should result.

Related Reading | Dollar, Divergences, & More: Here’s Why Bitcoin Could Soon Bounce

Thus far Bitcoin has remained largely unaffected by the dollar’s advance, despite one half of the cryptocurrency’s main trading pair featuring the fiat currency.

dollar dxy macd

A bullish MACD crossover will confirm the breakout as it has in the past | Source: DXY on TradingView.com

Coinciding with the breakout of the falling wedge, on higher timeframes, the MACD – a momentum indicator – is starting to turn upward. Past instances of the same pattern breaking upward combined with a bullish crossover on the MACD has led to sustained upside in the DXY.

How A Reversal In The Greenback Could Send Bitcoin Into A » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>Bear Market

Although the leading cryptocurrency by market cap has shaken off the greenback’s rebound thus far, a » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear phase could soon be coming that sets back the current uptrend for some time.

Each time the MACD crossed bullish on the DXY, it led to an extended » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear market in Bitcoin, as pictured below.

dxy bitcoin

Each bullish crossover in the dollar led to a crypto » Read more

" href="https://www.newsbtc.com/dictionary/bear/" data-wpel-link="internal">bear market | Source: DXY on TradingView.com

Bitcoin has been an uptrend for nearly a full year – since Black Thursday in 2020 – but time could be running out. The MACD hasn’t fully crossed over just yet, but has begun to turn upward.

Related Reading | This Unique Take On Bitcoin Suggests A Bear Phase Is Near

However, not all is lost for Bitcoin and the rest of the crypto market. An inverse head and shoulders on high timeframes might have completed on the DXY, which after a throwback to the trendline to confirm it as resistance, could result in the largest collapse in the dollar’s history, and its eventual undoing.

dxy head and shoulders

Upside in the dollar could ultimately be limited, benefiting Bitcoin | Source: DXY on TradingView.com

Such a scenario would suggest a bear phase in Bitcoin will arrive sooner than later, but that it will be much shorter-lived than previous » Read more

” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>bear markets, and once it ends, the leading cryptocurrency by market cap could completely take over as the global reserve currency.

Of course, there’s no telling what the dollar could do from here, or if this time is actually different.

Featured image from Deposit Photos, Charts from TradingView.com

Source: https://www.newsbtc.com/analysis/btc/bitcoin-dollar-rebound-bear-phase/

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Mainnet launch and NFT sale lift Aavegotchi (GHST) to a new all-time high

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Nonfungible tokens (NFTs) have rapidly become the new hot topic in the cryptocurrency sector, as evidenced by Litecoin (LTC) creator Charlie Lee comparing the current spike in NFT interest to the ICO mania of 2017

The recent pullback in the cryptocurrency market hit decentralized finance tokens (DeFi) pretty hard, but as Bitcoin’s (BTC) price recovered the $50,000, DeFi and NFT tokens bounced back rapidly. 

One project that has successfully capitalized on the DeFi and NFT boom is Aavegotchi. The project benefits from its association with Aave, while also focusing on the creation of value-infused NFTs that are limited in minting.

Data from Cointelegraph Markets and TradingView shows that the price of GHST, Aavegotchi’s governance token, rose 35% from $1.36 on March 1 to a new all-time high of $1.86 on March 2 as the community conducted its first NFT sale.

GHST/USDT 4-hour chart. Source: TradingView

Three reasons for the GHST breakout to a new all-time high include its recent migration to the Polygon network, the successful completion of its first NFT sale and excitement about the upcoming mainnet launch.

Users bridge to Polygon for lower fees

Transaction fees on the Ethereum network have been increasing since the beginning of 2021, and they show no signs of decreasing anytime soon.

In response to this, the team at Aavegotchi announced on Jan. 26 that the project would bridge to the Polygon network, an Ethereum layer-two solution Following the migration, users are able to conduct transactions, buy items in the store and stake their GHST tokens for the cost of .0001 MATIC, a significant price reduction from the current costs of transacting on Ethereum.

GHST price rose from $0.61 on Jan. 27, when the Polygon bridge was first released, to $1.25 on Feb. 14 as users began to be more active in the community due to lower transaction costs.

Optimism grows as the mainnet launch approaches

One of the biggest drivers of GHST was its official mainnet launch on March 2.

While most NFT projects are content to utilize Web 2.0 servers or the InterPlanetary File System, Aavegotchi has taken its project to the next level by creating its own blockchain. Doing this enables each GHST token to have its unique personality traits, staked cryptocurrencies and visual elements stored permanently on the blockchain, which may help to strengthen their collectability and long-term value.

This also creates the unique opportunity where DeFi can be combined with NFTs by locking one of Aave’s wide selection of interest-generating tokens directly into a particular Aavegotchi, making each one a rare, unique form of a digital piggy bank.

NFTs sell out in under a minute

As Aavegotchi launched its mainnet, the project also conducted its first “portal drop,” which allowed tokenholders to buy a portal that is capable of summoning a yield-bearing Aavegotchi NFT.

Each portal was on sale for 100 GHST, and the demand was so high that the 10,000 portals sold out in less than a minute.

Through an integration with Aave and its aTokens, NFTs on the Aavegotchi platform create unique interest-bearing representations of funds supplied to the Aave protocol, a first for the NFT space.

Aavegotchis are designed to combine elements of gaming and collecting in an effort to tie digital collectibles to real value. This adds a new level of functionality to NFTs and is likely to help each Aavegotchi increase in value over time. In order to extract the value of aTokens locked within an NFT, the Aavegotchi must be destroyed in the process.

Future portal drops, low transaction fees and an expanding NFT store demonstrate that there is a healthy demand for GHST, and this is bound to grow as the platform expands to offer new layers of gamification.

Source: https://cointelegraph.com/news/mainnet-launch-and-nft-sale-lift-aavegotchi-ghst-to-a-new-all-time-high

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Bitcoin has brought new thinking to payments and financial inclusion: SEC chair nominee

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When it comes to Bitcoin, market opinions are often divided, with those who support the asset and those who don’t. Similar camps may now appear to take hold of US regulators and policymakers. Recently, President Biden’s nominee for chairman of United States Securities and Exchange Commission (SEC), Gary Gensler appeared to share his perspective on the crypto sector. Gensler said that cryptocurrencies “have been a catalyst for change.” 

Speaking to US Senator Mike Rounds during his Senate confirmation, Gensler added

Bitcoin and other cryptocurrencies have brought new thinking to payments and financial inclusion, but they’ve also raised new issues of investor protection that we still need to attend to.

His opinion on crypto is in stark contrast to Treasury secretary, Janet Yellen’s, who believed that Bitcoin is “extremely inefficient for conducting transactions” and that it is a “highly speculative asset.” It goes against Senator Elizabeth Warren’s views, who thinks Bitcoin would only “end badly.” 

However, if Gensler is confirmed, a move that many crypto enthusiasts are looking forward to, the nominee plans to work to “promote the new innovation.” 

I think, as I teach at MIT on these subjects, that these innovations have been a catalyst for change. Bitcoin and cryptocurrencies have brought new thinking to payments and financial inclusion but they’ve also raised new issues of investor protection…If confirmed at the SEC, I will work to promote innovation.

He quickly stressed on the importance of investor protection and said:

It’s always important to update our market oversight to new technologies…It’s important to stay true to our principles of investor protection.   

Furthermore, in his opening remarks, Gensler said that markets—and technology— “are always changing” and must not be taken for granted.

Our rules have to change along with them. I believe financial technology can be a powerful force for good but only if we continue to harness the core values of the SEC in service of investors, issuers, and the public.

Gensler is most famously known for testifying before Congress for crypto and blockchain several times in the past. He even argued against the notion that crypto was similar to Ponzi schemes.


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Source: https://ambcrypto.com/bitcoin-has-brought-new-thinking-to-payments-and-financial-inclusion-sec-chair-nominee

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