German Federal Economic Ministry Wants to Combat Tax Fraud with Blockchain

The German Federal Ministry for Economic Affairs and Energy (BMWi)

The German Federal Ministry for Economic Affairs and Energy (BMWi) is planning to fight tax evasion schemes by using blockchain, German business news outlet WirtschaftsWoche reported Nov. 22. Following the major European tax fraud scheme CumEx-Files, the BMWi has suggested that distributed ledger technology (DLT) is capable of making the tax system more efficient in terms of fraud prevention. Discovered in 2017, the CumEx-Files was a tax fraud scheme that reportedly was used by a network of banks, stock traders and top lawyers to obtain billions from European treasuries through…

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Tezos Korea Foundation joins forces with Yonsei University to promote Blockchain

Tezos Korea Foundation

The South Korean arm of the Tezos Foundation has signed a Memorandum of Understanding (MoU) with Yonsei University for the development of unique talents and expertise in blockchain technology, according to a press release published by Tezos. The release reads: “Through this agreement, both sides will strengthen the expertise of the blockchain and education expertise, and discuss various cooperation opportunities to lead the blockchain field.” The new agreement, which is between the Seoul-based Digital Society Research Center at Yonsei University and the Tezos Korea Foundation, will look into providing “blockchain…

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Bitcoin Cash [BCH] miner process largest block ever on a public blockchain

Block #556034

The renowned blockchain technology research, analysis, and development firm, nChain Group’s mining pool BMG Pool is making the headlines now. The mining pool is shattering many records. The mining pool mined over 32 MB block on the Bitcoin Cash [BCH] network. The largest block ever mined first stood at the height 556034 on the Bitcoin Cash [BCH] chain. Furthermore, the miner processed over 166K transactions. The miner went onto process four more such 32 MB blocks on the blockchain network. Moreover, this resulted in the confirmation of over 166K transactions…

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Binance crypto exchange launches its analysis wing Binance Research

LOOM NETWORK (LOOM)

The most renowned and world’s largest crypto exchange by trading volume, Binance is launching its own analysis and research division. Binance is calling this new analysis wing as Binance Research. Moreover, the research division will focus on creating industry grade analysis reports. The crypto exchange launched the platform on November 8, 2018, for industry analysis. The crypto exchange made the announcement through their official Twitter handle. Furthermore, they also announced it on their official blog about this. The crypto exchange is calling the new firm, an analysis division to the…

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Spanish bank BBVA issues $150M loan using Ethereum

Etherchain - The Ethereum Blockchain Explorer

BBVA, the 35 billion euro bank from Spain, has officially issued a loan using the Ethereum blockchain. In a test of their pilot loan program, BBVA teamed up with MUFG and BNP Paribas to lend funds to Spain’s national electric company, Red Electrica. Spanish bank BBVA has officially issued a loan via the Ethereum blockchain. As reported by Finance Magnates, BBVA, Spain’s second-largest bank, is working on a pilot program that will issue loans using Ethereum (ETH). In the recently issued loan, Spain’s national electricity company, Red Electrica, received funding…

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Tata Consultancy Services partners with Intel for Quartz Blockchain Solutions

TCS

Tata Consultancy Services (TCS) has partnered with Intel to integrate Intel Software Guard Extensions technology with the Quartz Blockchain solution, to enhance the privacy and security of blockchain-based ecosystems implemented using Quartz. Reacting to this, shares of the company rose 1% in the afternoon session on Wednesday. “Central to TCS’ Business 4.0 framework is the use of technology to leverage ecosystems and to harness abundance. Quartz blockchain is a key enabler for this strategy. Even a single security incident can cause loss of trust and deter the adoption of blockchain.…

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The Chinese Financial Blockchain Shenzhen Consortium (FISCO) to launch coinless blockchain

blockchain

The Chinese Financial Blockchain Shenzhen Consortium (FISCO), led by multinational telecommunication company Huawei and tech giant Tencent, will soon present its coinless blockchain FISCO BCOS. FISCO consists of more than 100 financial entities including major players such as WeBank, a digital bank initiated by Tencent, and Shenzhen Securities Communication. The consortium is going to present the new platform at the Singapore Fintech Festival, which will take place from Nov. 12-14. FISCO BCOS is described as a set of applications aimed to serve the general public. Per the release, the main…

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IBM partnership will make big changes to travel

Travelport

The future of the travel industry won’t be the same thanks to IBM and the leading travel commerce platform Travelport’s latest announcement. During August was a big announcement from Travelport and its strategic technology partner, IBM have revealed that their industry-first AI (artificial intelligence) platform with the aim of aiding businesses manage their corporate travel spend. The AI platform, combined with Travelport data, cleverly manages, predicts and tracks all travel costs in one place. Fundamentally changing how companies manage and optimise their travel programs. This week, a further collaboration using…

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75 major banks join blockchain payments network

Interbank Information Network

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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Dell looks to blockchain to stay competitive in Indian server market

Dell Blockchain

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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Mastercard Eyes Blockchain For B2B

Blockchain Mastercard

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 U+ to offer blockchain-based overseas payment service

LG U+

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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Security system for IoT

OAS Blockchain Renaissance Project

The Dubai Silicon Oasis-based firm, Next Big Idea Technology (NBIT), a group of Harvard-graduate blockchain professionals, is all set to develop and launch the state-of-the-art security system for IoT and blockchain with plans to reach the global market through the Middle East and Africa as its starting point. Sang Soo Lee, the CEO of NBIT said, his firm, on the basis of US and Korean technology, has come up with an OAS Blockchain Renaissance Project that blockchain technology applies beyond cryptocurrency. He said, “It is unfortunate that the general population…

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IoT and Blockchain: Distinguishing the Hype from Reality

Blockchain and IoT

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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