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Two Blockchain Companies up the Ante This Quarter

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glass block with glowing micro chips in them and word blockchain in front. New techologies 3d rendering concept. Source: shutterstock.com

Regardless of the price movement in cryptocurrencies, blockchain companies are showing promise. With government and institutional interest rising, several up and coming firms are buckling up for big changes. Two of these companies are Block One Capital Inc. and HIVE Blockchain Technologies Ltd., which are making some big changes internally.

Block One Gets a New Director of Research

Investment Company Block One Capital, which focuses on providing high-growth blockchain sector start-ups a launch pad for their success is bringing Sivakumar V. Arumugam to the company as director of research. Arumugam is an affiliate with the Department of Philosophy of Science at Cambridge University and has been busy in researching the use of data science in the industry. The previous Mellon Postdoctoral Research Fellow at the University of Chicago is a Ph.D. from Columbia University.

However, apart from his academic achievements, what makes Arumugam a special hire for Block One is his role as a market maker in both spot and futures cryptocurrency markets. In fact, before his academic career, he was working in PaineWebber (now a part of UBS) on the US Treasuries market-making desk. He has several papers on probability and financial markets too.

Block One CEO Sothi Thillairajah commented on the new hiring:

“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.”

Hive Blockchain to Launch 200 Petahashes

Taking a step toward cloud mining, HIVE Blockchain will introduce 200 Petahashes (PH) in September 2018, dedicated to SHA-256 cloud-based mining. It is an amendment to the company’s previous agreement with Genesis Mining Ltd. signed in December 2017 to increase mining capacity in Sweden. This revised agreement will likely help in reducing operating costs as delivery was to be made in Sweden but could now be added to more advantageous locations like North America.

Production is expected to begin on September 30. It will help improve the operating flexibility of the company while lowering the operational costs of the two partners. Moreover, they will now be able to adapt to changing network conditions more quickly and help in providing better services across the globe.

Two Blockchain Companies up the Ante This Quarter was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.