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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Following on from their January 2018 commitment to develop a blockchain solution for international cargo transportation, Maersk and IBM have launched TradeLens. The shipping tool has been designed to streamline global trade, secure cargo during transit and support information sharing and transparency across the supply chain. IBM and Maersk have confirmed that 94 separate organisations have either been involved or are set to participate in the TradeLens early adopter program. These parties include major port and terminal operators worldwide; global container carriers such as Pacific International Lines; customs authorities from…

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Japanese electronics giant Sony has filed two patents for boosting blockchain-based ecosystems, according to filings 20180218027 and 20180219686 published by the U.S. Patent and Trademarks Office (USPTO) Aug. 2. Through the patents, Sony intends to improve the design and structure of blockchain hardware by introducing new circuitries to the processes of distributed ledger technology. The first application, entitled “Electronic Node and Method for Maintaining a Distributed Ledger,” describes an electronic device for maintaining a blockchain based on multiple electronics nodes, including multiple blocks associated with at least one of the…

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Google has joined a growing number of cloud service providers who are offering blockchain to enterprises. Google has announced the second of two partnerships that will allow it to offer the financial services industry and others a cloud-based platform on which they can develop and run blockchain-based applications. In a blog post ahead of its Google Cloud Next ’18 conference this week, the search giant said it is partnering with Digital Asset and BlockApps to enable customers to “explore ways they might use distributed ledger technology (DLT) frameworks on Google’s…

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On July 17, the U.S. Patent and Trademark Office awarded a patent to Mastercard that would provide “for linkage of blockchain-based assets to fiat currency accounts.” As noted in the background section of the patent, blockchain currencies have “seen increased usage over traditional fiat currencies by consumers who value anonymity and security.” However, the limitations of blockchain are also noted, with traditional payment networks having processing times measured in nanoseconds, whereas blockchain transactions can take a significant amount of time to verify. This inconsistency could persuade businesses and consumers to…

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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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