x
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
by
SWIFT, IBM, Ripple and around 100 other firms and organizations have joined a new blockchain association to promote adoption of the technology across the EU.
A European Commission initiative, the new group – the International Association of Trusted Blockchain Applications (INATBA) – is launching Wednesday in Brussels, Belgium.
INATBA has been set up as a “global multi-stakeholder forum” aimed to bring together developers and users of blockchain technology to promote mainstream adoption across multiple sectors.
The association plans to build a framework to encourage public and private sector collaboration, dialogue with regulators and policymakers and “legal predictability,” as well as ensure “integrity and transparency” in blockchain infrastructures. It will also develop guidelines and specifications for blockchain and distributed ledger-based applications.
The group also includes other notable members, including banks such as Barclays and BBVA, consultancy firm Accenture and French beauty product giant L’Oreal. A number blockchain startups are on board too, such as ethereum development studio ConsenSys AG, blockchain tech firm Bitfury, enterprise blockchain firm R3, cryptocurrency hardware wallet maker Ledger and cryptocurrency protocol developer IOTA (which is also on the board).
The formation of INATBA has been in the public arena about for some months. Carlos Kuchkovsky, BBVA’s head of research and development for new digital business, said in November that the association could have an important role to play in terms of developing blockchain best practices and standards and “avoiding fragmentation on a European level.”
The Brussels launch today will see several European Commission officials speaking, including Mariya Gabriel, Commissioner for the Digital Economy and Society, who will provide the keynote. There will also be panels, such as a discussion of the potential of blockchains.
A joint declaration of support from members is also being recorded on different blockchains at the event.
The European Commission has launched a number initiatives to promote the adoption of blockchain technology. Last spring, it formed the European Blockchain Partnership (EBP) along with 22 member countries to support the delivery of cross-border digital public services based around the tech. The Commission also set up the EU Blockchain Observatory and Forum, with ConsenSys as its member, last February.
Original Article Source : https://www.coindesk.com/eu-blockchain-group-launches-with-swift-ripple-onboard
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
By
United States bank holding corporation Capital One has won its latest blockchain-related patent, this time incorporating the technology in a content validation system. Documents from the U.S. Patent and Trademark Officereleased the patent on April 2.
Capital One, which last year focused its intellectual property efforts on blockchain for user authentication, now wants to use it as part of a wider network involving content providers.
“A device may receive first content data from a content provider, the first content data including data identifying content,” an extract from the patent’s summary reads. The summary continues:
“The device may generate second content data based on the first content data, the second content data including information that causes content validation to be performed on the content.
The device may also provide the second content data to a content validation node, the content validation node being included in a content validation network implementing a blockchain network that includes executable instructions for performing content validation.”
Capital One has shown interest in blockchain for several years. In 2016, the company was already looking into how to apply the technology to solve payments issues, at the time linked to health insurance.
Last year, Gill Haus, Capital One’s senior vice president, retail and direct bank chief information officer, told Forbes about the ongoing bullish mood.
“The benefit that we see with blockchain is that security is inherently built in,” he said. Haus continued:
“You know who is contributing to that blockchain, you have an immutable record, and you can make sure that the system and the protocol assemble easily.”
Within the banking sector more broadly, blockchain has also made something of a comeback this year, despite previous concerns its impact had been overhyped by the industry.
Original Article Source : https://cointelegraph.com/news/capital-one-presents-blockchain-patent-for-content-validation
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
by
The International Monetary Fund (IMF) and the World Bank have launched a crypto token called “Learning Coin” to better understand how blockchain technology works.
The two institutions said that the coin would have no monetary value and would not be made openly available, the Financial Times reported Saturday. To support the token, the IMF and the World Bank have also launched a private blockchain network.
The project is aimed to build “a strong knowledge base” around blockchain technology among staff at the organizations.
The IMF said in the report:
“The development of crypto-assets and distributed ledger technology is evolving rapidly, as is the amount of information (both neutral and vested) surrounding it. This is forcing central banks, regulators and financial institutions to recognize a growing knowledge gap between the legislators, policymakers, economists and the technology.”
Also launched as part of the token project is a Learning Coin app, allowing users to share content like blogs, research, videos and presentations. Staff at the organizations will also be able to “earn” coins for achieving certain educational milestones.
While the token has no real-world value, the developers are reportedly testing how staff can redeem it for rewards.
The news comes five months after IMF chief Christine Lagarde encouraged the exploration of central bank digital currencies (CBDCs) in the light of decreasing demand for cash and rising preference for digital money. And, in 2017, the then-president of the World Bank, Jim Yong Kim, said that the technology is “something everyone is excited about,” while he was more cautious about cryptocurrencies.
Last summer, the World Bank moved to use blockchain for a bond settlement that raised $81 million. The bond’s investors included CommBank, QBE Insurance, NSW Treasury Corporation and Northern Trust, among others.
Article Original source : https://www.coindesk.com/imf-and-world-bank-launch-educational-blockchain-token
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
China’s First Blockchain-Enabled Notary Opens Office in Beijing
By
China’s first blockchain-enabled notary has opened offices in Beijing, local media People reported on April 19.
Per the report, the service opened last Friday at the Beijing CITIC Notary Office. The head of the office reportedly stated that the development marks the beginning of the blockchain notary service era.
During the launch event, the director of the Beijing CITIC Notary Office Wang Mingliang noted that he believes that blockchain-based notarization has both the value of notarization and legal significance of blockchain certification. Hu Jiyu, a professor at the School of Business of China University of Political Science and Law, is also quoted stating that blockchain has the advantages of low cost, high efficiency and stability.
The newly implemented system purportedly allows the certificate holder to verify the contents of the document by scanning a code. Blockchain integration in the notary industry will purportedly prevent the forging of documents, and prevent fraudsters from taking advantage of informational asymmetries.
As Cointelegraph reported earlier today, the Chinese city Guangzhou has issued a business license using blockchain and artificial intelligence (AI) technology. The license was issued at the administrative center of Huangpu District, Guangzhou, and reportedly represents the first blockchain and AI-powered business license in China.
Earlier this month, Chinese media reported that the country is leading the world in the number of blockchain projects currently underway within its borders. Citing a report by Blockdata, China.org.cn stated that there are 263 blockchain-related projects in China, accounting for 25% of the global total.
Article Original Source : https://cointelegraph.com/news/chinas-first-blockchain-enabled-notary-opens-office-in-beijing
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
by
South Korean electronics giant Samsung is developing its own blockchain network and eyeing the issuance of its own token further down the road.
An exclusive CoinDesk Korea report on Tuesday, citing a person “familiar with Samsung’s internal situation,” said that the company’s blockchain task force – part of its wireless division – is building a blockchain mainnet based on ethereum. The work, however, is still at the “internal experimental” stage.
The source said:
“Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid – that is, a combination of public and private blockchains.”
When the development of the blockchain is completed, Samsung may also move to launch a “Samsung Coin” token, according to the report.
The person said:
“The market expects Samsung Coin to come out, but the direction has not yet been decided.”
If the company develops a public blockchain in the future, then Samsung Coin could be traded publicly on cryptocurrency exchanges just like bitcoin (BTC) and ether (ETH). Samsung could also bring blockchain technology to its payments app Samsung Pay, but the move is not yet decided, according to the source.
Samsung’s blockchain task force has been in active development for at least a year, and is working on a number of projects, according to the report.
Two months ago, the company made a leap into the blockchain arena with the unveiling of its flagship cellphone, the Galaxy S10, which has the ability to store cryptocurrency private keys and other features such as support blockchain-based digital signatures.
In March, Samsung officially revealed the cryptocurrency wallet, which is compatible with ether (ETH) and ethereum-based ERC20 tokens, although notably not bitcoin in early glimpses. According to some reports, the wallet is not yet available in some jurisdictions.
The S10 also supports decentralized apps (dapps) such as crypto gaming platform Enjin, beauty community Cosmee, crypto collectibles platform CryptoKitties and merchant payments service CoinDuck.
Edit (14:40 UTC): Corrected an error arising from translation. CoinDesk Korea’s source was not, in fact, described as an official.
Article Original Source : https://www.coindesk.com/samsung-developing-ethereum-based-blockchain-may-issue-own-token
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
by
IBM’s forray into enterprise blockchain solutions has added another high-profile customer: Volkswagen. The German automaker recently announced that it will utilize the IBM Blockchain platform to track minerals used in its supply chain. For cryptocurrency and blockchain investors, this provides further validation that distributed ledgers are here to stay and have practical use cases across various business domains.
Last week, Volkswagen announced it had joined an “open industry collaboration” to ensure that strategic minerals are mined responsibly. Utilizing IBM Blockchain and Linux Hyperledger technology, the new platform provides access to immutable data that tracks the flow of minerals across the manufacturing supply chains in near real-time. The new network includes participants at each stage of the manufacturing supply chain. Some of the largest participants include Ford Motor Company, Huayou Cobalt and LG Chem.
“Based on its open and democratic structure, the group will further expand membership to focus on industries such as aerospace, consumer electronics and mining operations,” Volkswagen said in a statement.
IBM Blockchain provides enterprise-level solutions for companies looking to leverage distributed ledger technology. IBM boasts more than 1,500 industry and technical experts, highlighting the extent to which the company has ventured into the new tech paradigm.
In addition powering the new manufacturing mineral network, IBM has been pushing hard for a new money transfer system that would allow customers to settle cross-border payments in near real-time. Dubbed IBM Blockchain World Wire, the new service is powered by the Stellar protocol, one of the world’s largest blockchain networks. IBM’s World Wire converts digital assets into the second fiat currency in seconds and at a fraction of the cost.
At the time of writing, IBM Blockchain World Wire was available in 72 countries, 57 currencies, 44 banking endpoints and nearly 1,100 currency trading pairs.
Last summer, IBM also announced it had partnered with Stronghold, a fin-tech startup, to develop a new stablecoin that is backed by the Federal Deposit Insurance Corporation (FDIC). This means the stablecoin is actually backed by insured U.S. dollars with reserves held at a blockchain-focused asset manager. Read more: IBM Goes All In On Stablecoin Project as Mainstream Crypto Adoption Grows.
IBM represents one of several major companies looking to bring blockchain technology to mainstream audiences. It has also been one of the most successful. By venturing into stablecoins, carbon credit cryptocurrencies and decentralized payment networks, the company has blurred the boundaries between enterprise blockchain solutions and digital assets (i.e., the blockchain, not bitcoin debate).
Intercontinental Exchange’s Bakkt platform is expected to make cryptocurrency more appealing for three distinct stakeholders: consumers, businesses and investors. Bakkt’s launch has been delayed by several months but has already raised $740 million from private investors. Read more: Crypto Weekly Review: Rise of the Small-Cap Cryptocurrencies; Clientless Bakkt Raises $740 Million.
Samsung has also made a big pivot toward cryptocurrencies by supporting private key storage and wallet services for Ethereum and ERC tokens in its new fleet of smartphones.
Article Original Source : https://hacked.com/ibm-blockchain-gets-another-customer-volkswagen-what-does-this-mean-for-mass-adoption/
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
By
The Port of Rotterdam, also known as the largest ferry port in Europe, is catching with the latest trends as it is readying a new blockchain-based energy trading platform. According to The Next Web’s Hard Fork, which has reported on this story, the project is basically complete already and testing will be finally started in the coming months.
Around 18 months ago, the Port of Rotterdam decided to set up BlockLab, a blockchain development group which was tasked with creating solutions that could leverage the blockchain technology in order to make the port work better. As soon as this group was started out, they announced the start of the blockchain-based energy trading project.
BlockLab has been working on the creation of an energy trading platform in a partnership with S&P Global Plats, a commodities and energy information provider. The main goal of the upcoming platform would be to help in the coordination of the supply and demand in the organizations that work within the port.
With the help of the project, companies will have the opportunity to choose different energy suppliers. They will have information on their current availability and costs during many hours of the day and they will be able to make the most informed choices.
In order to automate the whole process even more and make it easier for everybody involved, smart contracts will be widely used. The company is interested in automating as much as possible, as it would reduce the cost of labor and make it more effective.
It is important to notice that BlockLab understands that the blockchain technology is not some miraculous panacea. The company is currently working to make the whole port more efficient, but they know that only using blockchain does not solve all the problems.
According to Aljosja Beije, the logistics lead of the lab, many solutions can be made without the blockchain technology, but the truth is that the blockchain can solve trust problems in a very efficient manner, which is basically why it is so often used for logistics in shipping companies and ports.
Shipping may be the most real use case for the technology and companies from the whole world are using it, so ignoring the technology is a mistake.
For instance, the Commonwealth Bank of Australia has tracked 17,000 kilogram of almonds around the world using the blockchain. Another great example is the shipping company Zim, based in Israel, which used electronic bills of lading to help clients.
Article original source : https://bitcoinexchangeguide.com/the-largest-port-of-europe-in-rotterdam-will-test-a-blockchain-run-energy-trading-platform/
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
by
Amazon is in the blockchain business in a big way. Its Amazon Managed Blockchain is a fully managed service designed to help companies quickly set up blockchain networks of their own that are scalable and easy to create and manage. Originally announced at the company’s re:Invent event in late 2018, Amazon Managed Blockchain has been in preview for months. It’s now generally available, arriving first in northern Virginia before expanding to other regions over the course of the next year.
In a press release, Amazon told businesses that they “can quickly set up a blockchain network spanning multiple AWS accounts with a few clicks in the AWS Management Console,” doing away with what it describes as the typical cost and difficulty of creating a company network. AMB supports two frameworks — your business’ choice of Ethereum or Hyperledger Fabric. The former is the fruit of the combined labors of IBM and the Linux Foundation — part of the Hyperledger Project, which in turn is part of IBM Blockchain, a performance-as-a-service offering. Notably, Ethereum isn’t actually supported yet, but that’s also scheduled for later in the year
In an email interview, an Amazon representative did not explain why Ethereum isn’t yet available, and he didn’t clarify when it would be, other than to repeat the press release’s “later this year” line. He did, however, delineate the respective advantages of Hyperledger Fabric versus Ethereum.
“Hyperledger Fabric is well-suited for applications that require stringent privacy and permission controls with a known set of members,” he said, using the example of a financial application in which sensitive information is shared only with select banks. He contrasted that with Ethereum’s use for situations where transparency for all members is key and a blockchain network needs to be highly distributed. “[An example would be] a customer loyalty blockchain network that allows any retailer in the network to independently verify a user’s activity across all members to redeem benefits. Alternatively, Ethereum can also be used for joining a public Ethereum blockchain network,” he said.
“Customers simply choose their preferred framework, […] add network members, and configure the member nodes that process transaction requests. Amazon Managed Blockchain takes care of the rest, creating a blockchain network that can span multiple AWS accounts and configuring the software, security, and network settings,” Amazon’s press release reads.
The company said that AMB supports thousands of applications running millions of transactions. Amazon also provides its AMB customers with the Amazon Quantum Ledger Database (QLDB) for when companies want to perform additional analysis.
Blockchain is often erroneously conflated with cryptocurrency. The association between the two is indeed close, but that’s because blockchain is the technology that allows crypto to function. On stage at the initial re:Invent announcement, an Amazon spokesperson said that before the company embarked on its AMB journey, Amazon had more closely examined what sort of business use cases businesses wanted from the technology. Amazon Managed Blockchain’s services and feature set is what emerged from those efforts.
An inherent tension seems to exist between the decentralized promise of blockchain and the — for lack of a better term — centralized nature of Amazon’s fully managed service. But an Amazon representative explained to VentureBeat via an email interview the various ways individuals maintain control.
“Each customer owns their own membership and has a copy of the data and has the ability to endorse a transaction (or not),” the representative said. “This gives all members in a network the ability to make decisions, achieve consensus, and have ownership.” He pointed out that what Amazon brings to the table is an assurance that applications “will be highly available, scalable, and fault tolerant.” He continued, “This allows customers to build enterprise-grade applications that leverage key properties of a blockchain on top of AWS’ industry-leading cloud infrastructure.”
The membership drives scalability, up or down, and it gives the network some internal efficiency. “Consortiums can form without specific owners and all members need to decide who can join or be removed. This again ties into decentralization for enterprise applications,” he said. He used the example of trade chain that requires numerous parties across international boundaries. “Each stakeholder wants to independently verify the documentation related to the trade and doesn’t want any single entity to own the record of activity,” he said. “The current process requires trade-related paperwork (for example, a letter of credit) to go back and forth between the stakeholders, which can take five to 10 business days to complete.”
But on a blockchain, each member in the trade process has a copy of the transaction ledger, and this is where smart contracts — enabled by blockchain technology — can smooth the process. “The business contract, such as a letter of credit, can be written as a smart contract in the blockchain application and can automatically execute as soon as all the parties provide a consensus to record the transaction,” he said.
There’s still no word on a timeline for further service rollouts, but pricing information is available on the Amazon Managed Blockchain page.
Update, 9:35 p.m. Pacific: Amazon replied to our questions after this article was originally published. We updated it with additional information and context.
Article original source : https://venturebeat.com/2019/04/30/amazon-managed-blockchain-hits-general-availability/
