With digital payments getting more seamless, mainstream, and convenient, the rising concern for hygiene that following the worldwide COVID-19 pandemic and later government-imposed physical distancing themselves have made coins and banknotes less prevailing for compensation. Liquidity outflows undergo digital ones, and many hands do not. We are advancing towards the post-cash economy, with cryptocurrency, blockchain, and e-wallets ruling the way.
Microsoft has offered a method to produce cryptocurrency by monitoring people’s brain activity and personal biometric data. The patent implies using body heat, brainwaves, or fluids to verify blockchain transactions and reward users with digital currency such as Bitcoin. In the “Cryptocurrency system by using the data on human body activities,” the tech giant indicates replacing the immense computational workload, for finishing a specific task, which would then transfer to the server. Right now, cryptocurrency mining does need a considerable amount of specialized hardware and spends a significant amount of energy and natural means.
Last month, Alex de Vries, who is a blockchain specialist at PWC, had published research that was about claiming that just a one Bitcoin transaction utilizes the same amount of energy. As a standard of British household person does for almost two to three months and that 98 percent of all those cryptocurrency rigs never get their objective. No matter the potential incompetence, Microsoft’s ideal substitute is likely to phantom rather than stimulate. It must not be a one-night stand switch as the mechanics and technicality of spread human power cryptocurrency is still in the making. Even, the tech giant is well placed to ascend with a different result.
- The monitoring system of the human body:
Based on the documentation, the sensor monitors the blood flow, body heat, or brain waves. It would connect to users who could then support to complete any tasks just like looking at an advertisement or using any specific internet services”. This data will then be transferred to the server and can be used in the further mining process.
Most worrying, the patent produces a reference to monitoring work executed unintentionally through the detection of numerous brain waves, containing gamma and beta waves, which engage memory, learning, and logical thoughts and alpha waves, which refer to the subconsciously.
That is not the first time around that the world of cryptocurrencies has been connecting to the human body’s innovative ideas of getting a quasi-computational body in a technical sense.
2. Imaginative Mining Process:
Microsoft further explained that the inventive mining process could exchange the traditional computer-generated mining procedure that consumes plenty of power and energy. The company also disclosed that some of the tasks could expand or decrease the computational heat, hinging on the amount of activity generated.
3. Doesn’t need massive energy:
Remarkably, mining Microsoft’s cryptocurrency will not instruct enormous power as body heat produced from simple activities like displaying an ad or browsing on the internet will be sufficient to mine. Consequently, this crypto will preserve a lot of energy, unlike the durable computational power that most of the cryptocurrencies require, including bitcoins. Alternatively stated that users would be able to resolve the necessary complicated computational puzzles even unknowingly without having to torment their brains and lose so much energy in the procedure.
Concerning the cryptocurrency system will operate, the patent stated that a server could submit a task to the device of a person that has connected to the server. The wearable device will then make sense of the user’s body movement. The data produced from these body actions will quickly be just like ‘Proof of Work’ except for the reality that the mining process utilizes the less computational energy power and is way fastest. It’s worth referring that the patent application will not be exposed If Microsoft will create its cryptocurrency system. Above a current blockchain or build its blockchain to sustain the cryptocurrency system. Furthermore, there is no sureness that the company will move forward with it.
4. Supports people to execute a specific task:
As announced by Microsoft, this system could be applied to encourage and boost people to perform particular tasks. Scanners can find other human behaviors, such as thoughtful attention, when reading commercials that can affirm the person’s block of digital currency. Systems, different methods, or hardware facets of a computer’s readable memory will be provided for a cryptocurrency system for using human body movement’s data information.
5. Proof-of-work Mechanism:
By allowing the digital information data for the distribution but not copied, blockchain technologies set up the backbone of a new kind of internet. The peer-to-peer network structure in cryptocurrency is organized based on the consensus devices that they are employing. For cryptocurrency like Bitcoin, which uses an easy ‘proof of work’ insight mechanism, all the nodes have a special privilege. The concept is to establish an equality network. The nodes are not given as any individual rights, though their blots and degree of participation may be different. There is no middle server/entity, nor is there any hierarchy. It is a smooth topology.
While producing financial decisions is somewhat you’ve likely mastered as a small business holder—using common money, that is—in the recent period, money markets have spin-off into a whole new digital world packed with cryptocurrencies.
6. Correlation of Patents & Cryptocurrency:
Cryptocurrency, one of the uniquely new technologies of our timing, has triggered a model shift in the way in which the world invents financial transactions and digital similarities. Its rapid development, and its reflected value, have made it appealing to investors and companies who see its infinite capacity. One way that many companies indicate their belief in the future of blockchain is through fixing patents.
The patent describes a system where a device can guarantee whether the body activity data meet one or more conditions put by the cryptocurrency system to reward the person whose body action data is confirmed.
Microsoft has not disclosed whether the innovative crypto mining system would rely on its framework or whether it would be connecting with blockchain technology. The company has also not completed whether the patent would go live. Though as it has gained the license to use human brain waves and body heat to mine crypto. Microsoft could continue this grand dream and make it a reality in the future.