Lifeboat Foundation

It almost sounds like a dream: a new kind of hypersonic space-kissing jet that can take you anywhere in the world in just four hours. But the Skylon super plane being developed by UK aerospace firm Reaction Engines is very real.

The project took a big step forward this week with Reaction Engines announcing a new partnership with defence and aerospace giant BAE Systems, whose financial backing, along with a considerable investment from the UK government, will help Reaction develop its new class of aerospace engine dubbed SABRE (Synergetic Air-Breathing Rocket Engine) by as early as 2020, with test flights possible just five years later.

It’s thanks to the SABRE engine that the Skylon could theoretically take you to the other side of the planet for lunch, before dropping you safely back home in time for dinner.

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Think of all the possibilities!

Mind control has been a topic of many great suspense and science fiction movies until recent. Now, an emotion altering device that will work in conjunction with a smart phone app is now being developed by Thync, and is slated for release to the public in 2015.

Thync announced on Oct. 8 that it’s raised $13 million from financial contributors to develop technology combining neuroscience and consumer electronics.

Continue reading “Mind Control Device Alters Emotions on Demand” »

Quoted: “Masters went on to say that, because financial services involve Americans’ livelihoods (and not just, say, their taxi ride to Brooklyn), regulations ruling the space are many multitudes more complex than they are in other industries — and the 100-plus year-old banks have a leg up in dealing with these rules.

“Anyone who imagines that as a result of the advent of new technology we will see a world where incumbent financial institutions who provide vital, heavily-regulated intermediated services, custodial services, safe-keeping services will be decimated and completely removed from the picture overnight is just naive and wrong,” she said, pointing out that customers of legacy banks can pay bills and deposit checks through their iPhones — so it’s not as if there’s been no innovation in traditional financial services.”

Read the article here > http://www.forbes.com/sites/maggiemcgrath/2015/10/20/will-fi…ately-win/

At the end of 2015, the US national debt will be 18.6 trillion dollars. With such a big number, it’s tempting to put it in perspective by comparing it with things more easily envisioned. Alas, I can not think of anything that puts such an oppressive and unfair burden into perspective, except to this:

US debt represents a personal obligation of $60,000 for each American citizen. And it is rising quickly. Most of our GDP is used simply to pay down interest on that debt. Few pundits see a way out of this hole.

In my opinion, that hole was facilitated in August 1971, when the US modified the Bretton Woods Agreement and unilaterally terminated convertibility of the US dollar to gold. By forcibly swapping every dollar in every pocket and bank account with the promise of transient legislators, individual wealth was suddenly based on fiat instead of something tangible or intrinsic.

Continue reading “What if U.S. had raised interest rates?” »

This short post is not about Bitcoin. It’s about a new method of organizing and arbitrating communications that is at the heart of Bitcoin

We hear a lot about the blockchain. We also hear a lot of misconceptions about its purpose and benefits. Some have said that it represents a threat to banks or to governments. Nonsense! It is time to form a simple, non-political, and non-economic explanation…

What is a Blockchain?

The blockchain is a distributed approach to bookkeeping. It offers an empowering, efficient and trusted way for disparate parties to reach consensus. It is “empowering”, because conclusions built on a blockchain can be constructed in a way that is inherently fair, transparent, and resistant to manipulation.

Continue reading “What is a Blockchain?” »

For most of us, figuring out the value of something that we want, comes from research. If you want a new set of wine glasses, you check the price online. Perhaps you consult a catalog. If the set of 8 stemware goblets that you like are a current model from a major company, there are probably many places to buy them. If there are multiple Ebay sellers and many recently completed sales, then you can establish the value with precision.

I’ve written a lot of Bitcoin articles on this Lifeboat Blog and elsewhere, so, let’s dig a bit deeper this time. Let’s talk about from where value really comes.

Supply and Demand

In the end, an item’s value is a direct result of supply and demand. It’s no different with a currency. And let’s be clear: Despite a raging debate, Bitcoin is a currency and not just a payment instrument. How can I be certain? Try this mental exercise—

Continue reading “What gives Bitcoin Value?” »

Peter Thiel’s Valar Ventures and Citigroup’s Citi Ventures have backed a New York-based startup that lets retail investors place orders for securities on news websites, financial blogs and mobile apps, as investments in young financial-technology companies continue to grow.

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Last year, Google began experimenting with hardware-based schemes for user-authentication, while Apple added two factor authentication to iCloud and Apple ID users. They began sending a verification code to users via a mobile number registered in advance.

Security pundits know that two factor authentication is more secure than simple passwords. As a refresher, “Factors” are typically described like this:

• Something that you know (a password — or even better, a formula)
• Something that you have (Secure ID token or code sent to cell phone)
• Something that you are (a biometric: fingerprint, voice, face, etc.)

The Google project may be just another method of factor #2. In fact, because it is small (easily misplaced or stolen), it simplifies but does not improve on security. I suggest a radical and reliable method of authentication. It’s not new and it’s not my idea…

Continue reading “Passfaces: Strong authentication for the masses” »

July 9 update:
_{3 days after posting, Visa acknowledged that Bitcoin has a future in payments. This is an understatement, of course. The bank described below goes a step further by acknowledging that the entire financial infrastructure may cave to cryptocurrencies.}

French bank BNP Paribas warned customers and investors that the technology behind bitcoin might one day overtake conventional, account-based financial institutions, thus rendering existing companies redundant (that’s British for “obsolete”).* It’s a tectonic acknowledgement from one of the world’s biggest banks.

Analyst Johann Palychata writes in the company’s magazine Quintessence that Bitcoin’s blockchain, the underlying architecture that allows cryptocurrency to function, “should be considered as an invention like the steam or combustion engine,” that has the potential to transform the world of finance and beyond.

Check out the full story by Oscar Williams-Grut at Business Insider.

Continue reading “Major bank admits bitcoin could destroy banks, brokers & exchanges” »