General Motors Files Patent for a Blockchain-Based Navigation Map

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General Motors patent uses blockchain to improve navigation maps, potentially for semi-autonomous driving systems.

Major car manufacturer, General Motors, or GM, has filed a patent application for a continuously updating navigation map system. The system would use blockchain to integrate data from vehicle sensors and build a reliable map for autonomous vehicles.

According to the filing, which was submitted on Oct. 1, 2018 and published on April 2, 2020, existing maps are “difficult to keep dynamic without incurring large costs.”One potential reason for this is that most maps are maintained through specialized vehicles, whose reach will necessarily be limited to just a few specific sections of the world.

General Motors’ solution is to distribute the process to many vehicles, which would collect data about their surroundings through sensors as they simply drive around.The real-time data would be compared with a discrepancy detector, which analyzes the existing maps. 

Any difference is transmitted to a blockchain network that holds all the map data. The “candidate transaction” is then validated if other vehicles report a similar change. The patent suggests that the network would be maintained by vehicles and mining nodes located in data centers.

The system was likely developed for GM’s “Super Cruise” feature, which provides a semi-automated driving experience on some luxury models. Unlike competitors from Tesla, the system relies very heavily on navigation maps, which is why it can only be used on “supported” roads.

Distributing the map generation process would likely speed up the manufacturer’s efforts to cover the majority of the roads in the U.S.

The patent reveals that one of the benefits of the system is distributing the map generation process and allowing multiple vendors to contribute to a single map. This is likely the reason why it implements blockchain. 

Automotive industry and blockchain

As previously reported by Cointelegraph, General Motors is one of the more prolific car manufacturers in the blockchain sector. In October 2019, it was one of the five car manufacturers testing a blockchain-based payment and identification system for vehicles. 

Its finance arm invested into a blockchain startup in June, in an effort to curb auto financing fraud.

The manufacturer also patented another blockchain-based communication system in December 2018, which would help different entities communicate with autonomous cars.

Original source: https://cointelegraph.com/news/general-motors-files-patent-for-a-blockchain-based-navigation-map

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Coinbase USDC Bootstrap Fund invests in Uniswap and PoolTogether

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By Nemil Dalal, Daniel Que, & Pete Kim

2019 has been called The Year of Decentralized Finance (“DeFi”), with the money locked up into decentralized finance protocols skyrocketing. In 2020, these protocols are starting to provide global access to financial services like savings and exchange.

To encourage growth in USDC and DeFi, Coinbase launched the USDC Bootstrap Fund last September with $2MM of initial funding. The USDC Bootstrap Fund invests directly into smart contract protocols, providing important, early liquidity for entrepreneurs and developers looking to grow their protocol.

With USDC, we hope to provide critical infrastructure that will enable DeFi to grow and increasingly compete with existing financial products. In addition to our publicly announced investments in Compound and dYdX, we are proud to announce further investments in Uniswap and PoolTogether.

Uniswap is emerging as one of the most liquid exchanges on Ethereum. Their constant market maker model makes it easy to launch a liquid exchange for any token, and is increasingly becoming critical infrastructure for tokens and applications that need liquidity. In a little over a year, Uniswap has grown from $0 to $31MM of liquidity, and now has exchanges (also known as “pools”) for well over 880 tokens. The USDC Bootstrap Fund has provided $1MM of liquidity to the USDC/ETH pool.

PoolTogether is a savings game built on Compound. Users deposit funds which earn interest, and are paid out to a winner chosen at random. So far, $19K of prizes have been awarded. The USDC Bootstrap Fund has provided $100K USDC as a pool sponsor, increasing the reward for USDC depositors.

We encourage DeFi developers and smart contract projects that want to integrate USDC to apply for the USDC Bootstrap Fund. We look for teams who build innovative products, leverage USDC, and effectively manage risks. To apply, please fill out this form.

This website may contain links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.


Coinbase USDC Bootstrap Fund invests in Uniswap and PoolTogether was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Original source: https://blog.coinbase.com/coinbase-usdc-bootstrap-fund-invests-in-uniswap-and-pooltogether-9c847f0405dc?source=rss—-c114225aeaf7—4

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