Category: Blockchain

Among the first beneficiaries of the new fund will be the UDAP Foundation and the TokenX Community. Nanjing, the capital of the Chinese province Jiangsu, is setting up a 10 billion yuan ($1.48 billion) blockchain investment fund to support public blockchain projects in the country. ZDNet reports that the new fund will be launched in cooperation with Zhongguancun Blockchain Industry Alliance, a Beijing-based organization formed by blockchain companies and government research institutes. The new project was announced at the Industrial Public Chain Summit (IPCS), which was attended by high-level functionaries…

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The US Patent and Trademark Office published an application submitted by Mastercard Inc. to allow the company to patent a “method and system for anonymous directed blockchain transaction.” The patent proposes to protect the identifying details of individuals who make blockchain transactions. The application states that under existing systems, if a buyer desires to remain anonymous, as in the cases when businesses hope to conceal their practices and partners from competitors, they need to go through a third party. However, the issue with this model is that it requires a…

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Its initial coin offering is still in progress, but a new announcement indicates that the team behind KODAKCoin is working to put the forthcoming cryptocurrency to use. WENN Digital – the company that licensed the photo-centric KODAK’s brand for a cryptocurrency and associated digital rights management platform – announced Monday that it is working with Oak View Group to bridge the sports world with the upcoming KODAKOne platform. The idea is that fans and photographers at the six participating arenas, including the San Antonio Spurs’ AT&T Center, can upload and…

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China’s Google, as Baidu is commonly referred to, announced that they have released a blockchain-based protocol dubbed “Super Chain.” The solution is intended to resolve the issues related to mining energy consumption. Speaking at an event in China, Xiao Wei, chief scientist of Baidu’s blockchain division, announced the first release of the company’s new blockchain protocol called “Super Chain.” Wei spoke of the capabilities of the new release, outlining its attempts to handle the critical issue of the high energy consumption of cryptocurrency mining operations: This compatible developer ecosystem of…

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Deloitte, the international professional services firm have recently piped up with regards to how blockchain technology might impact the retail sector. Not just online and through e-commerce, but within physical, brick and mortar retail establishments. It is well known that Deloitte, alongside rivals PwC et al. are currently working on blockchain research projects that in turn, aim to carry out extensive research into how the professional services industry can improve the experiences of their clients, by utilising blockchain technology. The report by Deloitte, titled New Tech on the Block can…

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Environmental fintech company Veridium Labs is partnering with IBM to use blockchain to help companies offset their environmental footprints and reduce global warming. The idea is to help transform carbon credits into fungible (exchangeable or interchangeable) digital assets that can be redeemed or traded on Stellar, the decentralised financial network for digital banking tools. In this relationship, Stellar acts as the underlying ledger, IBM as the token manager or broker, and Veridium provides the environmental expertise and structure. The resulting “digital environmental assets” are designed to help companies and institutional…

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Banking giants HSBC and ING have successfully completed a trade finance transaction by using blockchain technology. The platform is ready for commercial deployment, according to HSBC. HSBC Holdings announced on Monday it had successfully carried out the world’s first trade finance transaction via distributed ledger technology (DLT), or what is more popularly known as blockchain. The London-based banking giant and Dutch peer ING acted on behalf of US agribusiness conglomerate Cargill. The banks hope that DLT will minimize fraud risks in letters of credit and reduce the number of steps…

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Kodak is working to help photographers fight image theft using a blockchain and cryptocurrency. After announcing KodakOne during the 2018 Consumer Electronics Show, owner of the image rights management platform Wenn Digital has now achieved funding for KodakCoin. KodakCoin will launch on May 21, followed by the KodakOne platform sometime during late 2018. KodakOne uses the idea of a blockchain — protecting data through a large network of computers — and applies the concept to managing photo rights. The company calls it an “encrypted digital ledger of rights ownership for…

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Alibaba and four Australian and New Zealand companies introduced a food-tracing system based on blockchain technology on Friday. The consortium, which includes two New Zealand-based companies dairy-exporter Fonterra and New Zealand Post, as well as Australia’s natural health company Blackmores and Australia Post, is called the Food Trust Framework. It will use an immutable central ledger to provide end-to-end supply-chain traceability and transparency designed to enhance consumer confidence and build a trusted platform for cross-border trade. Alibaba’s cross-border marketplace Tmall Global now incorporates controls to manage the supply-chain process including…

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The National Aeronautics and Space Administration (NASA) has awarded a new grant that supports the development of an autonomous spacecraft that could make decisions using Blockchain technology without human intervention, news outlet Space.com reported April 18. Jin Wei Kocsis, an assistant professor of electrical and computer engineering at the University of Akron, Ohio, received a $330,000 NASA grant to support her research. Kocsis said that the research program will examine the application of Ethereum-based Blockchain technology in developing a secure computing system to be used in deep space: “In this…

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