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Magic Leap Reveals Enterprise Strategy And The Magic Leap 2



Enterprise solutions, The New Magic Leap One And The 2021 Roadmap

Experiencing Spatial Computer on Magic Leap One Creators Edition at The Enterprise Wearable Technology Summit in Dallas, September, 2019. CHARLIE FINK

In the spirit of the season, Magic Leap dumped a news cornucopia on our desk this morning, brushing off doubters and negative news stories, as it focuses on the next two years. First, the headlines:

The Magic Leap Enterprise Suite, Now available on the Magic Leap website. The Suite includes everything a business needs to efficiently roll out spatial computing to employees, manage devices securely, and build and deploy enterprise or custom built applications. Priced at $2995, the new Magic Leap 1 Enterprise Suite includes:

The New Magic Leap 1 HMD with tethered Lightpack. This new, updated version of Magic Leap One drops “Creator Edition” from the name. At the same time, Magic Leap is releasing updates to its LuminOS (0.98) and LuminSDK (0.23) for current Magic Leap One Creator Edition owners.

Support. Two-year access to dedicated omnichannel support.

Two-year access to Device Manager. Enterprise-level support from Magic Leap. Device Manager lets authorized administrators control important aspects of working with Magic Leap 1, enabling them to configure and set up devices, view usage metrics, remotely distribute apps and updates, and remotely lock or wipe devices if needed.

Two-year access to a RapidReplace program. Get a new device quickly if you need one.

A two-year extended warranty. To guarantee Magic Leap 1 always works as it should.

“Since the launch of Magic Leap One Creator Edition in August, 2018, we’ve been working on solutions with enterprise partners, looking at different enterprise verticals, which has allowed us to understand the needs of the marketplace,” said Omar Khan, Chief Product Officer at Magic Leap. “This has enabled us to build a product around the enterprise’s real, everyday needs.” He broke the enterprise suite into four solution areas.

Magic Leap acquired cross-platform telepresence start up Mimesys last year. Mimesys

(1) Communication collaboration and co-presence. The company introduced its own application, Jump by Magic Leap, but is also working with partners like Spatial for the next generation in conferencing. Magic Leap partner BNP Paribas Real Estate reports it’s been able to lessen employee travel, and change the way its employees interact and collaborate with remote colleagues using spatial computing.

Sketchup showed off this architecture demo at Magic Leap’s developer conference in October, 2018. Magic Leap

(2) 3D Spatial visualization. This application is for designers. Wether it’s collaboration or demonstration, sharing works-in-progress and doing rapid iterations is critical in design. Spatial computing enables architects to walking through a life sized CAD drawing of a building, and for doctors to stand inside of the CT scan of a patient’s anatomy.

(3) Learn and assist. Knowledge capture is a hot topic in enterprise XR right now, as tens of millions of baby-boomers with deep institutional knowledge are retiring in increasing numbers. Using spatial computing, and see-what-I-see technology, a worker can capture, narrate and even anchor content so that the next worker, standing in this same place wearing a Magic Leap device can follow their exact, step by step instructions. Jabil, a leading manufacturing solutions provider, leverages Magic Leap technology to train production-line operators and simplify complex assembly operations by integrating digital instructions into their physical environment.

Game Of Thrones, ATT, MagicLeap location based experience introduces the feared White Walkers to your neighborhood store. MAGIC LEAP

(4) Location based experiences bring the digital world into live events and physical spaces. Magic Leap’s platform enables content and IP owners to bring digital entertainment to life in curated physical spaces. In the spring of 2019, Magic Leap, HBO and ATT brought a short spatial Game of Thrones experience to AT&T stores. Magic Leap wants to offer that same technology to other retailers. Sports venues, museums, trade shows and college campuses, could all be augmented with spatial computing experiences.

Rony Abovitz, founder and CEO of Magic Leap with one of the company’s touchstones: NASA. Abovitz wants to capture the pioneering spirit of the early space program. PATRICK FINLEY

Rony Abovitz, founder and CEO of Magic Leap, and the company he founded in 2014, which has raised and eye-popping 2.6billion (not a typo) dollars, was the subject of a long profile in Forbes this time last year. His previous company, Mako Robotics, created micro instruments for brain surgeons. Naturally, he started our conversation about Magic Leap’s leap into enterprise with his long term vision: all day, every day, everyone, everywhere. Your smartglasses will be with you like your mobile phone. They will be that close to your life.

Abovitz then proceeded to lay out the roadmap for the next eighteen months (or so) of Magic Leap’s development. Very significant in our view because this has not been so articulated to our knowledge. He fearlessly answered hard questions about Apple, Qualcomm, pass through, and security. The first thing he said was how surprised he was by how active and “leaning in” he has found the enterprise market in general.

The first news bomb Abovitz dropped is that the Magic Leap 2 will ship in 2021. Abovitz emphasized it is for enterprise and early prosumers. “This is a major new platform packed with sensors, and advanced optics,” Abovitz told me. He said the device is now passing through “phase gates” (production equivalent builds). Throughout 2020, Magic Leap plans to work closely with customers to perfect the Magic Leap 2.

When asked about the inherent security advantage the Windows 10 operating systems gives to the Microsoft HoloLens, Abovitz answered that Magic Leap’s open and flexible platform easily integrates into Windows 10, Azure, AWS or Google Compute. “Think about the complexity of military needs, and their security requirements. Our strength is open and modular and ease of integration, something our DoD clients really like about us.”

The other topic we touched on was the recent announcements from Apple and Qualcomm (which supplies most of the industry with Snapdragon XR processors) concerning their own roadmaps and where they are going in the next three years. The outward facing cameras of HMDs will get more powerful, and with faster latency-free 5G networks users, looking through their cameras, can experience a wild remix of reality. Abovitz says those approaches have their place, but he rejects the idea that people would live that way. “We’re sticking to our guns. Physical screens must go. Their days are numbered.”

Say goodbye to the Magic Leap One Creator’s Edition. Say hello to the Magic Leap 1. Magic Leap

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Magic Leap Reveals Enterprise Strategy And The Magic Leap 2 was originally published in Virtual Reality Pop on Medium, where people are continuing the conversation by highlighting and responding to this story.



Here’s how Synthetix is tackling Ethereum’s congestion, high gas costs



Ethereum has been very popular this year, not usually for all the right reasons, however, since network congestion and high gas costs have often kept it in the limelight. While the reason for these issues accelerating was the boom in Decentralized Finance [DeFi] protocols on Ethereum, some projects have already started to work on a solution, like Synthetix [SNX].

Synthetix, along with other DeFi platforms like Uniswap, Aave, and Curve, have been working closely to roll out scaling solutions. According to a recent update, Synthetix to was struggling under the burden of high fees, before it upgraded to a primitive version of L2 scaling on 24 September. Dubbed the ‘Fomalhaut’ upgrade, it is the first phase of L2 migration to Optimistic Ethereum [the Layer 2 solution]. According to Synthetix’s blog,

“It will be an incentivized testnet aimed at alleviating gas costs for small SNX stakers.”

This would make collecting rewards for small stakes cheaper, in contrast to hundreds of dollars paid previously.

Following this update, SNX will release its second upgrade, ‘Deneb,’ on 29 September, which will include steps to reduce the gas fees. The implementation of SIP-83 and SIP-TBC as a part of Deneb, Founder Kain Warwick stated, were direct responses to increased gas costs due to congestion. He added,

“Some of the changes are stop-gaps while we transition to Optimistic Ethereum but included in these two releases is the first step towards L2 Synthetix.”

This will allow Synthetix to deploy new solutions that have been prohibitively expensive to deploy on L1. The hybrid approach will likely take SNX through to the end of the year and will represent the near-to-mid-term future of the project. The next step with Mimosa will see the launch of the Synthetic futures testnet competition.

With Synthetix laying out a plan to tackle congestion and high fee solutions, it has also managed to grab the attention of the DeFi community. With the growing prominence of scaling solutions and DeFi, SNX has also achieved listings on Bitfinex and Gemini.


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Bullish? On-Exchange Bitcoin Declines While Whales Accumulate (Report)



A recent report suggests that the amount of Bitcoin stored on exchanges is declining while BTC whales increase their holdings and that’s bullish for Bitcoin’s price.

The paper also highlighted that investors have a much larger time horizon for their holdings now compared to previous years.

Bitcoin Stored On Exchanges Drop

In its latest report shared with CryptoPotato on Bitcoin investors’ behavior, the popular research company Digital Delphi explored the number of bitcoins stored on cryptocurrency exchanges. The document indicated that if the BTC stock on platforms increases, it could put sell pressure.

However, this isn’t necessarily the case during bull runs, as retail investors often “leave BTC on exchanges and traders use BTC as margin collateral.” Alternatively, in case the asset price rises while the stock on exchange decreases, this typically implies an accumulation trend.

The report indicated that Bitcoin stored on exchanges marked an all-time high of 2.96 million in mid-February. Since then, the trend has reversed, and the number has dropped to below 2.6 million.

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Bitcoin Price/Bitcoin Stock On Exchanges. Source: DigitalDelphi
Bitcoin Price/Bitcoin Stock On Exchanges. Source: DigitalDelphi

Digital Delphi argued that the reason behind this decrease of BTC on exchanges is because investors are most likely preparing for a longer-term holding period. More importantly, though, the paper highlighted a substantial decline in speculative trading interest in Bitcoin, while the HODLing mentality has increased.

“Unlike the 2019 price uptrend, which coincided with BTC stock increasing, this current trend has seen a divergence between BTC stock and price. This suggests a more sustainable move upwards for BTC, in comparison to that of 2019, as data indicates a holder base with longer time horizons.”

Bitcoin Whales Haven’t Slowed Down Accumulating

Digital Delphi’s data reaffirmed previous reports that Bitcoin whales, meaning addresses containing between 1,000 and 10,000 BTC, continue to accumulate large portions. The company outlined that whales have been on a shopping spree since the start of 2020, as their holdings have increased by 9% YTD.

Moreover, the US Federal Reserve’s actions to print extensive amounts of dollars since the start of the COVID-19 pandemic have accelerated whales’ accumulations.

“Since the USD M2 supply expansion in March, there has been a 7% increase in whale holdings.”

According to the document, this only emphasizes the narrative that Bitcoin serves as a hedge against dollar inflation, and “the smart money is clearly betting on this.” It’s worth noting that prominent US investor Paul Tudor Jones III purchased BTC earlier this year to protect himself against precisely the rising inflation.

Bitcoin Whales HODLing. Source: DigitalDelphi
Bitcoin Whales HODLing. Source: DigitalDelphi
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US Crypto Tax Avoiders Beware: The IRS Updates 1040 Tax Form



The Internal Revenue Service (IRS) seems to have found a way to block crypto tax evasion, following an update of its tax form.

IRS: No Excuses for Crypto Traders

According to the Wall Street Journal on Friday (September 25, 2020), the IRS is planning to alter its 1040 tax form. The revised tax form will see cryptocurrency holders give a straight answer about their crypto activities.

The IRS has been relentlessly pursuing crypto investors to disclose transactions, as it suspects that many taxpayers were guilty of tax evasion. However, the tax administrator looks like it has found a way to make all Bitcoin holders accountable.

Presently, the tax form will mandate crypto traders to answer a” yes or no” to the following question:

“At any time during 2020, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?”

What makes the update interesting is the placement of the above question. Prior to the revised tax form, the question appeared in a section where taxpayers were not mandated to fill the answer. However, the question’s position in the altered tax form just below the taxpayer’s name and address leaves no room for excuses or oversight on the part of the crypto trader.

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Reacting to the altered form of 1040 was Ed Zollars:

“This placement is unprecedented and will make it easier for the IRS to win cases against taxpayers who check ‘No’ when they should check ‘Yes”

There have been complaints in the past about the lack of a robust regulatory framework for crypto tax filings. In October 2019, the IRS published new tax guidelines that would supposedly make it easier for crypto investors to file taxes. The U.S. tax agency also sent reminder letters to crypto holders. Earlier in September, the IRS announced a payment of $625,000 to anyone who could crack Monero and Bitcoin’s lightning network.

US 1040 tax form.

Governments Keen on Crypto Taxation

While the IRS seems to have devised a means to trap crypto holders, more countries are introducing crypto tax laws and clamping down on offenders.

As reported by CryptoPotato in April, Spain’s tax administrator sent out notices to 66,000 crypto investors, as against the 14,000 notices sent in 2019. South Korea, on the other hand, has been unsteady about taxing cryptocurrency.

Earlier in 2020, South Korea’s Ministry of Finance and Strategy revealed that there were no intentions to tax crypto profits. However, reports emerged that the Ministry was considering imposing a 20% tax on profits from crypto trading. In June, the country’s Finance Minister called for the imposition of tax on cryptocurrency trading gains.

Australia’s tax agency, the Australian Taxation Office (ATO), sent out reminders to 350,000 crypto traders in March about their tax obligations. According to the ATO, crypto investors were to keep a comprehensive record of their trading activities for ease of tax payment.

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