Category: Blockchain

Mitsubishi Electric has teamed up with researchers from the prestigious Japanese university, Tokyo Tech, to jointly design a blockchain-based trading system that can support more flexible, peer-to-peer energy trading. Announced on Jan. 18, the new system is intended to support the efficient use of surplus electricity that is generated from renewable energy sources. In particular, it is hoped that the trading system can ensure that at any given moment, there will be the maximum available amount of surplus electricity accessible on the market for consumers. Peer-to-peer energy trading set-ups allow…

A fledgling blockchain-based game project called Illuvium has already managed to attract support from major industry backers — a development owed in part to the fact that Illuvium co-founders Kieran and Aaron Warwick are the brothers of Kain Warwick, the co-founder of decentralized finance (DeFi) platform Synthetix. In an interview with Cointelegraph, Kieran Warwick clarified that development work has only been underway since September, and that the “two years” refers to the length of time Kain had been badgering Kieran to re-enter crypto full time. “I left to found a…

The Switzerland-based branch of a major Russian bank has also joined OpenVASP. Gazprombank Switzerland, a subsidiary of one of the largest banks in Russia, has piloted its Bitcoin (BTC) transaction service following regulatory approval by Swiss regulators. According to a Nov. 19 announcement, Gazprombank will provide its new cryptocurrency solution in collaboration with its long-running partners like fintech firm Avaloq and crypto custody provider Metaco. Gazprombank Switzerland CEO Roman Abdulin said that the new service intends to make crypto transactions “as easy as transactions with traditional assets,” stating: “Digital assets…

Blockchain tech is handy for complying with NATO standards in aerospace and defense. Thales, a French multinational company specializing in products and services for aerospace and defense industries, is using blockchain technology for a new management system at its production hub in Spain. According to an official announcement on Nov. 5, Thales is seeking to deploy technologies like blockchain and big data to enable the digital transformation of its defense- and aeronautics-focused production and maintenance center. As part of the initiative, the Paris-based company looks to comply with standards by…

News requires an element of trust. Blockchain may be able to help. Verizon has unveiled “a blockchain-based, open-source newsroom product designed to raise the bar for corporate accountability,” according to a public statement today. Called Full Transparency, the platform is meant to immutably document the company’s own news releases on a public blockchain. Verizon posted its first news story through the platform yesterday, according to comments sent to Cointelegraph by a Verizon representative. Alterations made after the story’s initial publication were also recorded. The representative noted, however, that “Only text…

China’s national blockchain project BSN could be the best fit for the digital yuan. China’s nationwide blockchain project, the Blockchain Service Network, or BSN, will be integrating stablecoin support in 2021. Yifan He, CEO of Red Date Technology, a major tech company involved in the BSN development, told Cointelegraph that the project will soon start integrating stablecoins. Piloted in late 2019, China’s BSN is a state-backed initiative that intends to support medium-sized businesses in building and deploying blockchain applications. The exec explained that stablecoins will be used as payment for…