75 of the world’s biggest banks are turning to the Interbank Information Network (IIN) a blockchain payments platform to fight the threat of new payments rivals in what will be the regulated banking industry’s largest application of the distributed ledger technology. More than 70 additional banks, including Société Générale and Santander, are joining the Interbank Information Network which JPMorgan, Royal Bank of Canada and ANZ have been trialling for 11 months to see if blockchain payments technology can speed up payments that have errors or require additional compliance checks. The…

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Tech giant Dell EMC Technologies plans to remain a leader in the Indian server market by introducing products that have blockchain capabilities, local news outlet Economic Times India reports September 26. Dell has identified blockchain, artificial intelligence (AI), data analytics, and cloud-compliance as key features that the firm will push forward with in order to retain its edge. According to the Economic Times India, Dell had the highest overall market share of the Indian server market in Q1 2018 at 28.3 percent, up from 19.4 percent in the previous quarter.…

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Blockchain has been receiving attention well beyond cryptocurrencies, and the focus has shifted in part to patent filings. Though it may seem that China has dominated patent filing activity in recent weeks, a number of firms (not Alibaba) have been making their own way across the patent landscape. In the latest news germane to intellectual property and blockchain, Mastercard has filed three patent applications with the U.S. Patent and Trademark Office, as reported this week. Amid those patent filings came details that the payments giant has developed a blockchain-based system,…

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LG Uplus has joined with global partners in Japan, Taiwan and the United States to offer subscribers a blockchain-based overseas payment service. The trial service, scheduled to start early next year, is based on a cross-carrier blockchain platform called CCPS (cross-carrier payment system), enabling subscribers from one carrier to complete purchase transactions on the payment networks of another carrier. It would mark the first time a Korean mobile carrier has offered such an advanced service to subscribers. Seoul-based LG Uplus signed a memorandum of understanding (MOU) Thursday with Taiwan-based Far…

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A portion of the cybersecurity industry seems to be stuck in a cycle. When a new technology comes along, a chorus of vendors jumps into the fray essentially proclaiming: “This technology is different than the others. If you buy it, you’ll be safe.” Some years later, the explanation for that particular technology, whether it is public key infrastructure, firewalls, intrusion prevention and detection, antivirus software or network access control, becomes something like: “Well, the last technology you adopted is helpful, but you need another layer of defense.” Bolt-On Security And…

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There are many potential uses for blockchain in IoT, but for widespread adoption as part of IoT deployments, the technology needs to overcome scalability and interoperability issues. Blockchain technology (also called distributed ledger) is commonly associated with Bitcoin, Ethereum and other digital currencies. These digital currencies established the viability of distributed ledger as a means of conducting, verifying and permanently recording transactions without the need for a trusted third party. Beyond digital currencies, blockchain has many other potential applications. Many players are now starting to explore opportunities to apply blockchain…

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China Aerospace Science and Industry Corporation has announced it is developing a blockchain invoice system. Right now, China Aerospace’s electronic invoices are end-to-end. They cover issuance, delivery, filing, inspection, and reimbursement. So far it has issued around 2.5 billion invoices, and their levels of issuance are in-line with other major Chinese corporations. The electronic invoicing system that is commonly used in China is subject to over-reporting, false-reporting, and problems with chain-of-custody. China Aerospace created a blockchain invoice system to augment its electronic invoices, so they can better track their invoices…

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