Disclaimer: This article is for informational purposes only. Would the mining of these currencies be the main benefit for Microsoft or would it be the ability to prompt users to use certain services? Vietnamese government-backed hackers have been recently spotted deploying cryptocurrency-mining malware alongside their regular cyber-espionage toolkits, Microsoft said … Now, does this bitcoin miner from Microsoft have any underlying, nefarious agenda? What do you think of Microsoft’s new cryptocurrency mining system? On 26 March 2020, Microsoft published a patent that indicates the building of a new cryptocurrency system. The use of human body activity data makes this system unique and interesting. Microsoft has filed a patent application for a system that uses brainwaves to mine cryptocurrencies. The application was filed on June 20 last year. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. For example, Manuel Beltrán, founder of the Dutch Institute of Human Obsolescence, set up an experiment in 2018 to mine cryptocurrencies with a special bodysuit that harvested the human body heat into a sustainable energy source. A new patent … Noting that the method described may “reduce computational energy for the mining process as well as make the mining process faster,” the patent details: For example, instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously. Create a commenting name to join the debate, There are no Independent Premium comments yet - be the first to add your thoughts, There are no comments yet - be the first to add your thoughts. “A user can solve the computationally difficult problem unconsciously,” the … He discussed whether the government would allow it to happen and how bitcoin can become a ... read more. Microsoft has patented a cryptocurrency mining system that leverages human activities, including brain waves and body heat, when performing online tasks such as using search engines, chatbots, and reading ads. The electricity generated was then fed to a computer to mine cryptocurrencies. A new patent titled "Cryptocurrency System Using Body Activity Data" describes how a person could attach various sensors to their body to earn cryptocurrency through a process known as mining. The patent talks about a new cryptocurrency that uses body activity data for mining allowing users to mine the currency without needing an … American economist Brian Wesbury has shared his thoughts on what would happen if the masses were to ditch fiat currencies and adopt bitcoin instead. Twitter. Microsoft Technology Licensing, the licensing arm of Microsoft Corp., has been granted an international patent for a "cryptocurrency system using body activity data." It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System', On 22 May, 2010, the first ever real-world bitcoin transaction took place. Microsoft recently filed a patent titled “Cryptocurrency System Using Body Activity Data” which outlines a new cryptocurrency that uses body activity data for mining. Microsoft and IOTA launch first cryptocurrency market for the Internet of Things Update: IOTA has since come forward to clarify it has no formal partnership with Microsoft. Please continue to respect all commenters and create constructive debates. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash, Towards the end of 2017, the price of bitcoin surged to almost $20,000. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin, On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. Microsoft has patented a cryptocurrency mining system that leverages human activities, including brain waves and body heat, when performing online tasks such as using search engines, chatbots, and reading ads. According to Microsoft’s patent application, the tech giant’s cryptocurrency would run on power produced by simple activities, including passive actions, and eliminate the need for the expensive ASIC mining rigs that consume lots of electricity to power the Bitcoin network. Microsoft has proposed a method to generate cryptocurrency by monitoring people's brain activity and other personal biometric data. In the past, the company halted its acceptance of cryptocurrency but shortly after resumed their service. Forget About It, India Seizes Bitcoins Worth $1.2 Million From Hacker of Government Website and Crypto Exchanges, Gold Exceeds U.S. If that sounds a little strange, you should take a dive deep into the details of the patent published yesterday filed by Microsoft. Mining cryptocurrencies like bitcoin typically involves devoting vast amounts of computer processing power to solve complex mathematical problems. Hackers target cryptocurrency users with new ElectroRAT malware. Until now risking your money to buy bitcoin or understanding complex technology to mine bitcoin were the only solutions to get free bitcoins. This will allow users to mine a new token using brain waves or body heat. Microsoft has filed a patent titled “Cryptocurrency system using body activity data” which was published yesterday. Claim: Microsoft owns patent "666," which involves inserting microchips into people to mine their activity for cryptocurrency purposes. Microsoft has patented a system that uses human biometrics such as body heat and brain-wave activity to mine cryptocurrency. Possible sensors used to track the activity include MRI scanners, heat cameras, and heart rate and infrared sensors. Microsoft announced plans to use the bitcoin blockchain to create a "digital identity" that could be used to access sites and apps across the internet. ; 2 The distributed ledger technology (DLT) consumer Logic App fetches the data from the Service Bus and sends to transaction builder which builds and signs the transaction. Introducing Cryptosheets, the world's first real-time cryptocurrency data add-in for Microsoft Excel. Facebook. Use Bitcoin and Bitcoin Cash to play online casino games here. The machine allowed people to exchange bitcoins for cash, The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. Microsoft Corporation, through its licensing arm, Microsoft Technology Licensing, was granted an international patent on March 26. Want an ad-free experience?Subscribe to Independent Premium. The idea behind the system is … Bitcoin.com does not provide investment, tax, legal, or accounting advice. Of course, this doesn’t mean that using cryptocurrency primarily for paying for things in restaurants couldn’t eventually lead to widespread adoption, particularly within developed countries. Flow. By tracking brainwaves when someone watches an advert, Microsoft hopes to use the data generated as a “proof-of-work.” This is the validation of a … Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. With Our Bitcoin Miner When your phone is doing nothing, you have a great chance to make free Bitcoins. “A user can solve the computationally difficult problem unconsciously,” the patent reads. You can find our Community Guidelines in full here. The patent, named “ WO2020060606 – Cryptocurrency System Using Body Activity Data,” involves a crypto mining system based on sensors that transform mental or physical activities into computer power. Image Credits: Shutterstock, Pixabay, Wiki Commons. Economist Discusses What Would Happen if the Masses Ditch Fiat Currencies for Bitcoin. “Human body activity associated with a task provided to a user may be used in a mining process of a cryptocurrency system,” the patent reads, adding as an example: A brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing advertisement or using certain internet services, can be used in the mining process. Microsoft wants to create a new cryptocurrency that’s still mined using PoW–except replacing expensive power-intense mining rigs with basic human energy. Let us know in the comments section below. The company allows the use of Bitcoin to top up your Microsoft account. The idea of mining cryptocurrencies using human body heat has previously been explored by other organizations. Microsoft Technology Licensing, the licensing arm of Microsoft Corp., has been granted an international patent for a “cryptocurrency system using body activity data.” The patent was published by the World Intellectual Property Organization (WIPO) on March 26. Microsoft has filed for a patent for a new cryptocurrency mining system that will purportedly leverage the data collected from people via sensors, as they interact with advertising or exercise, instead of using equipment that requires massive amounts of power. The most insightful comments on all subjects will be published daily in dedicated articles. The patent lists 28 different concepts for the way the system could be used to mine cryptocurrency, including tasks like browsing social media, engaging with an artificial intelligence chat bot or visiting a website. 2x Bitcoin — Wanna Double Your BTC to the Moon? Read more: Gates’ Microsoft patent for cryptocurrency system using body activity data It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. They are terming this code as World Order 2020 666. He later rescinded the claim, On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. AI researchers at DeepMind discovered new details about how the human brain works, On 3 January, 2009, the genesis block of bitcoin appeared. The mining system would involve hooking up a device to various sensors on the body that detect the activity required of the user to generate the cryptocurrency. Please be respectful when making a comment and adhere to our Community Guidelines. Microsoft Patents New Cryptocurrency System Using Body Activity Data. Patent describes system that rewards users with digital currency every time they view an advertisement or use a certain internet service, Find your bookmarks in your Independent Premium section, under my profile. Can Norwegian waterfalls stop bitcoin from destroying the planet? Microsoft Corporation (MSFT) Enters Cryptocurrency Market With Blockchain Contract By Zacks Equity Research, Zacks Investment Research Sep 11, 2017, 1:50 pm EST September 11, 2017 The patent is for a cryptocurrency system using body activity data. Microsoft Technology Licensing, the licensing arm of Microsoft Corp., has been granted an international patent for a “cryptocurrency system using body activity data.” The patent was published by the World Intellectual Property Organization (WIPO) on March 26. Forget About It. video and audio streaming or electric books), or sharing information or data with users,” the patent details. Discover the program thousands of traders are using on a daily basis. Beyond brain waves and body heat, other activities that could be monitored include "body fluid flow" and "organ activity and movement". Also read: 2x Bitcoin — Wanna Double Your BTC to the Moon? The application was filed on June 20 last year. Bitcoin is the most valuable cryptocurrency today. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed, In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. Measure sweat = measure fever. Start your Independent Premium subscription today. Different types of sensors can be used to “measure or sense body activity or scan human body,” the patent explains. Microsoft did not immediately respond to a request for comment from The Independent about whether it plans to develop the technology. The system may reward cryptocurrency to an owner or a task operator “for providing services, such as, search engines, chatbots, applications or websites, offering users access for free to paid contents (e.g. This proof-of-work is achieved when a user performs given tasks, or even online … Due to the sheer scale of this comment community, we are not able to give each post the same level of attention, but we have preserved this area in the interests of open debate. The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. While the long-term viability of these are questioned by some, cryptocurrency mining has been going on for years and is the catalyst for how coins are distributed. The cryptocurrency craze is real, with BitCoin and other currencies surging in recent months. Cryptocurrency is used for a variety of end-use industries, such as peer-to-peer payment, remittance, e-commerce and retail, media and entertainment, and others and is forecast to grow at a … A strange patent from Microsoft has been spotted by WindowsUnited that combines cryptocurrency and monitoring brain and body heat into a single idea. As is described by the patent application, instead of the massive computation work that is required by “ conventional cryptocurrency systems,” Microsoft’s hypothesis is that … "Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously.". A wallet can contain multiple public and private key pairs. Intezer Labs said it discovered fake cryptocurrency apps laced with ElectroRAT, a new Go-based malware strain. "For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information service provider, such as viewing an advertisement or using certain internet services, can be used in the mining process," the patent explains. The patent describes a system where a device can verify whether “the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified.”. It does not specify which cryptocurrency the system would work with, though it could use an entirely new digital payments network based on a blockchain developed especially for it. The ledgers that track bitcoin transactions look for … Microsoft has proposed a method to generate cryptocurrency by monitoring people's brain activity and other personal biometric data. The patent, filed under international patent number WO-2020-060606 and titled ‘Cryptocurrency System Using Body Data Activity’, leverages human body activity as proof-of-work.. Which cryptocurrency? The cryptocurrency system communicatively coupled to the device of the user may verify if the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified. Microsoft's patent sets out an alternative option for mining cryptocurrency by instead doing it through a "human body activity associated with a task" and monitoring the outcome with biometric sensors. In a recent patent filing, Microsoft appears to have a plan to use human brain waves for cryptocurrency mining.The patent is titled “Cryptocurrency System Using Data on Body Activity.” Details of the patent indicate that Microsoft is working on a PoW algorithm that will use the body’s biometric data to facilitate cryptocurrency mining. Want to bookmark your favourite articles and stories to read or reference later? The patent code WO 2020060606 is making conspiracists drive crazy. Advertisment. Are you sure you want to mark this comment as inappropriate? You can also choose to be emailed when someone replies to your comment. Read our full mailing list consent terms here. The Ethereum Virtual Machine (EVM) is the runtime environment for smart contracts in Ethereum. “A user can solve the computationally difficult problem unconsciously,” the patent reads. The patent was published by the World Intellectual Property Organization (WIPO) on March 26. 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It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Independent Premium Comments can be posted by members of our membership scheme, Independent Premium. Are you sure you want to delete this comment? They include “functional magnetic resonance imaging (fMRI) scanners or sensors, electroencephalography (EEG) sensors, near infrared spectroscopy (NIRS) sensors, heart rate monitors, thermal sensors, optical sensors, radio frequency (RF) sensors, ultrasonic sensors, cameras, or any other sensor or scanner” that will do the same job. This patent granted to Microsoft was reportedly published by the World Intellectual Property Organization (WIPO). Ethereum wallet A cryptocurrency wallet stores the public and private keys which can be used to receive or spend the cryptocurrency. 1 Relevant apps, devices, and data sources send events or data to a message broker (Azure Service Bus). Microsoft has patented a cryptocurrency mining system that leverages human activities, including brain waves and body heat, when performing online tasks such as using search engines, chatbots, and reading ads. You may not agree with our views, or other users’, but please respond to them respectfully, Swearing, personal abuse, racism, sexism, homophobia and other discriminatory or inciteful language is not acceptable, Do not impersonate other users or reveal private information about third parties, We reserve the right to delete inappropriate posts and ban offending users without notification. Since then many companies have jumped on the cryptocurrency bandwagon and it looks like Microsoft is going to be the latest addition. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins – the equivalent of $90 million at today's prices, Bitcoin soon gained notoriety for its use on the dark web. This represented a 1,300 per cent increase from its price at the start of the year, Bitcoin price crashes spectacularly, losing half of its value in a matter of days, The cryptocurrency eventually bottoms out below $4,000 in 2019 before slowly rebuilding momentum to outperform more traditional assets, {{#verifyErrors}} {{message}} {{/verifyErrors}} {{^verifyErrors}} {{message}} {{/verifyErrors}}, Microsoft wants to 'read people's brain waves' to mine cryptocurrency. You can search international patents here. Understanding complex technology to mine cryptocurrencies risking your money to buy bitcoin or understanding complex technology to mine.! Microsoft published a patent titled “ cryptocurrency system stop bitcoin from destroying the planet to... Scheme, Independent Premium mine cryptocurrency Ethereum wallet a cryptocurrency wallet stores public... You have a great chance to make free Bitcoins when your phone is doing nothing, should. 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