Today, November 7th, marks a turning point in Ujo’s history. Due to ongoing maintenance costs, the time has come for us to bid farewell to our beloved Alpha project. Instead of spending time maintaining the prototype, which fulfilled its purpose, we are knuckling down to build an open platform for all artists.
The Ujo team joined with Grammy award winning artist, Imogen Heap’s initial Mycelia experiment as both wanted a more fair and open music industry. Imogen posted Tiny Human to her website along with all relevant metadata for the song to see what new music services could do with it. In collaboration with Heap, we were able to showcase the power of the blockchain in getting Tiny Human up for sale on the newly launched Ethereum blockchain.
Source: Evolution of Ujo Music: The Tiny Human Retrospective – ConsenSys Media – Medium
While there are several Ethereum projects currently being created, The Pitts Family Circus is the first attempt at an Ethereum financed movie, which eventually will share the profit of the films production with investing Ethereum holders via Smart Contracts on the Ethereum Blockchain.
With only 666 limited shares available, the shares are 10 ETH each, but there is also the possibility to buy fractional parts of a full share. Token holders can invest in the crowd-sale via an Ethereum smart contract and they will receive a Ethereum based ROI for the next 20 years.
Source: First Ethereum-Financed Independent Film Uses Smart Contracts – Blockchain News
Although the term blockchain might sound like a torture device, you might know it from another source: Bitcoin. Blockchain technology is the foundation and principal innovation of bitcoin, the dark web’s infamous cryptocurrency. Blockchain is also the foundation of Ethereum, which some see as a successor to bitcoin.
So this quick decoding not only reveals that The DAO is a venture capital fund that tracks its money via a blockchain technology — a database — named Ethereum. It also shows how the meanings of these three names are at best confounding and at worst unnerving, evoking big government, immateriality and darkness both individually and as a group.
Source: The blockchain future is here. And it needs a few good names. – Recode
Ethereum co-founder Vitalik Buterin has asked digital currency exchanges to “pause” ether and DAO activity following a hack of the DAO smart contract address.
The ongoing hack and possible theft, deemed as an “attack” on the DAO by Vitalik Buterin, has the co-founder of Ethereum issue a plea seeking digital currency exchanges to pause ether (ETH) and DAO transactions.
Source: Breaking: “Pause Ether, DAO Trading”, Ethereum Founder Buterin Tells Exchanges – CCN: Financial Bitcoin & Cryptocurrency News
Over the last two years, as Ethereum has evolved from concept to code, so too has the mystery surrounding Buterin. The resounding chorus of the people working on Ethereum is that he is to be admired and adored, and they are more than willing to contribute to Buterin’s colorful, often hilarious hagiography. I’ve been told by various people that Buterin learned to speak fluent Mandarin in just a few months, that he’s an autistic wunderkind, that all of his worldly possessions fit into one suitcase, that he once ate an entire lemon without removing the rind, that he’s an android powered by the Ethereum network.
Even those who have worked closely with Buterin seem mystified by him, as though this person is meant to be observed but not really understood.
Source: The Uncanny Mind That Built Ethereum — Backchannel
Technology lawyers say the growth of Ethereum, a public blockchain platform upstaging Bitcoin, could change how lawyers operate and force them to widen the breadth of their skills. But blockchain’s distributed ledger system also offers infinite opportunities for growth in an industry seeking stimulus.
Ethereum’s key attraction is its ability to go beyond virtual currency to facilitate transactions and binding financial agreements or smart contracts purely using applications and without the need for human intermediaries.
Source: Blockchain’s big opportunity for lawyers | afr.com
The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays and UBS as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network.
Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin.
Source: Bitcoin exchange Coinbase to add ether currency to trading platform | Reuters