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Global Blockchain Technology Industry – GlobeNewswire

New York, July 10, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Blockchain Technology Industry" - https://www.reportlinker.com/p05443600/?utm_source=GNW 5 Billion by 2027, growing at a CAGR of 64.2% over the analysis period 2020-2027.Public, one of the segments analyzed in the report, is projected to grow at a 65.4% CAGR to reach US$96.2 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Private segment is readjusted to a revised 62.7% CAGR for the next 7-year period. This segment currently accounts for a 24.6% share of the global Blockchain Technology market.

The U.S. Accounts for Over 30.6% of Global Market Size in 2020, While China is Forecast to Grow at a 60.9% CAGR for the Period of 2020-2027 The Blockchain Technology market in the U.S. is estimated at US$1.4 Billion in the year 2020. The country currently accounts for a 30.61% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$22.1 Billion in the year 2027 trailing a CAGR of 60.9% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 57.5% and 54.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 43.1% CAGR while Rest of European market (as defined in the study) will reach US$22.1 Billion by the year 2027.

Hybrid Segment Corners a 11.2% Share in 2020 In the global Hybrid segment, USA, Canada, Japan, China and Europe will drive the 60.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$396.7 Million in the year 2020 will reach a projected size of US$10.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$17.7 Billion by the year 2027.We bring years of research experience to this 15th edition of our report. The 311-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

-Competitors identified in this market include, among others,

Read the full report: https://www.reportlinker.com/p05443600/?utm_source=GNW

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW Blockchain, The Technological Essence of Bitcoin, Emerges to Disrupt the Digital Economy The Promise of Decentralized Internet Moving Beyond Bitcoin Revolutionizing Benefits of Blockchain that Double Up as Powerful Growth Drivers Decentralized Database, Immutability, Encrypted Blocks and Elimination of Intermediaries - Inimitable Benefits of Blockchain Technology to Propel Market Growth The Three Generations of Blockchain Technology Recent Market Activity Asia-Pacific to Spearhead Growth in Blockchain Technology Sphere While Financial Services Sector Leads Blockchain Applications, Non-Finance Sectors Look to Catch-up with Investigational Blockchain-based Initiatives Next-Generation Blockchain Innovations to Foster Development of New Applications While Finance Industry Leads, Non-Finance Sectors Present Long -term Potential Public Blockchain Networks Dominate Market Revenues Global Competitor Market Shares Blockchain Technology Competitor Market Share Scenario Worldwide (in %): 2020 & 2029 Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS AlphaPoint Corporation (USA) Blockchain Global (Australia) Blockchain Tech Ltd (Canada) BlockCypher, Inc. (USA) Bloq (USA) Chain, Inc. (USA) Coinfirm Ltd. (UK) Consensus Systems (USA) Credits (UK) Digital Asset Holdings, LLC (USA) IBM (USA) LUKKA, INC. (USA) Microsoft Corporation (USA) Monax Industries (UK) Nasdaq (USA) ShoCard (USA) The Bitfury Group (USA) The Linux Foundation (USA)

3. MARKET TRENDS & DRIVERS Noteworthy Trends & Issues Widening Network of IoT Systems to Power Blockchain Implementations Blockchain Assumes Critical Role as a Tool for Enabling Financial Inclusion of the Unbanked Venture Capitalists Flock to Fund Blockchain Companies: An Indication of the High Growth Potential of Blockchain Technology Blockchain-as-a Service (BaaS): Outsourcing the Implementation and Management of Blockchain-based Platforms Smart Contracts: Among the Most Promising Use Cases of Distributed Ledger Technology Emerging Trends in the Blockchain Technology Landscape Combination of AI and Blockchain - Focus on Development Initiatives Blockchain Technology Emerges to Mitigate Issues Impeding Deployment of IoT Promising Innovations to Facilitate Further Advancements in Blockchain Technology Though Built Originally for Bitcoin, Innovative Applications Set to Transform Blockchain Market Industry-wide Collaborations: Critical for Developing Practical Applications of Blockchain Existing Regulatory Framework & Infrastructure Limitations Impede Wider Adoption of Blockchain Technology

4. GLOBAL MARKET PERSPECTIVE Table 1: Blockchain Technology Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027

Table 2: Blockchain Technology Market Share Shift across Key Geographies Worldwide: 2020 VS 2027

Table 3: Public (Type) World Market by Region/Country in US$ Thousand: 2020 to 2027

Table 4: Public (Type) Market Share Breakdown of Worldwide Sales by Region/Country: 2020 VS 2027

Table 5: Private (Type) Potential Growth Markets Worldwide in US$ Thousand: 2020 to 2027

Table 6: Private (Type) Market Sales Breakdown by Region/Country in Percentage: 2020 VS 2027

Table 7: Hybrid (Type) Geographic Market Spread Worldwide in US$ Thousand: 2020 to 2027

Table 8: Hybrid (Type) Market Share Distribution in Percentage by Region/Country: 2020 VS 2027

Table 9: Financial Services (Application) Demand Potential Worldwide in US$ Thousand by Region/Country: 2020-2027

Table 10: Financial Services (Application) Share Breakdown Review by Region/Country: 2020 VS 2027

Table 11: Telecom & Media (Application) Worldwide Latent Demand Forecasts in US$ Thousand by Region/Country: 2020-2027

Table 12: Telecom & Media (Application) Distribution of Global Sales by Region/Country: 2020 VS 2027

Table 13: Transportation (Application) Sales Estimates and Forecasts in US$ Thousand by Region/Country for the Years 2020 through 2027

Table 14: Transportation (Application) Global Market Share Distribution by Region/Country for 2020 and 2027

Table 15: Healthcare (Application) Global Opportunity Assessment in US$ Thousand by Region/Country: 2020-2027

Table 16: Healthcare (Application) Percentage Share Breakdown of Global Sales by Region/Country: 2020 VS 2027

Table 17: Other Applications (Application) Worldwide Sales in US$ Thousand by Region/Country: 2020-2027

Table 18: Other Applications (Application) Market Share Shift across Key Geographies: 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES Market Facts & Figures US Blockchain Technology Market Share (in %) by Company: 2020 & 2025 Market Analytics Table 19: United States Blockchain Technology Market Estimates and Projections in US$ Thousand by Type: 2020 to 2027

Table 20: United States Blockchain Technology Market Share Breakdown by Type: 2020 VS 2027

Table 21: United States Blockchain Technology Latent Demand Forecasts in US$ Thousand by Application: 2020 to 2027

Table 22: Blockchain Technology Market Share Breakdown in the United States by Application: 2020 VS 2027

CANADA Table 23: Canadian Blockchain Technology Market Estimates and Forecasts in US$ Thousand by Type: 2020 to 2027

Table 24: Blockchain Technology Market in Canada: Percentage Share Breakdown of Sales by Type for 2020 and 2027

Table 25: Canadian Blockchain Technology Market Quantitative Demand Analysis in US$ Thousand by Application: 2020 to 2027

Table 26: Canadian Blockchain Technology Market Share Analysis by Application: 2020 VS 2027

JAPAN Table 27: Japanese Market for Blockchain Technology: Annual Sales Estimates and Projections in US$ Thousand by Type for the Period 2020-2027

Table 28: Japanese Blockchain Technology Market Share Analysis by Type: 2020 VS 2027

Table 29: Japanese Demand Estimates and Forecasts for Blockchain Technology in US$ Thousand by Application: 2020 to 2027

Table 30: Blockchain Technology Market Share Shift in Japan by Application: 2020 VS 2027

CHINA Table 31: Chinese Blockchain Technology Market Growth Prospects in US$ Thousand by Type for the Period 2020-2027

Table 32: Chinese Blockchain Technology Market by Type: Percentage Breakdown of Sales for 2020 and 2027

Table 33: Chinese Demand for Blockchain Technology in US$ Thousand by Application: 2020 to 2027

Table 34: Chinese Blockchain Technology Market Share Breakdown by Application: 2020 VS 2027

EUROPE Market Facts & Figures European Blockchain Technology Market: Competitor Market Share Scenario (in %) for 2020 & 2025 Market Analytics Table 35: European Blockchain Technology Market Demand Scenario in US$ Thousand by Region/Country: 2018-2025

Table 36: European Blockchain Technology Market Share Shift by Region/Country: 2020 VS 2027

Table 37: European Blockchain Technology Market Estimates and Forecasts in US$ Thousand by Type: 2020-2027

Table 38: European Blockchain Technology Market Share Breakdown by Type: 2020 VS 2027

Table 39: European Blockchain Technology Addressable Market Opportunity in US$ Thousand by Application: 2020-2027

Table 40: European Blockchain Technology Market Share Analysis by Application: 2020 VS 2027

FRANCE Table 41: Blockchain Technology Market in France by Type: Estimates and Projections in US$ Thousand for the Period 2020-2027

Table 42: French Blockchain Technology Market Share Analysis by Type: 2020 VS 2027

Table 43: Blockchain Technology Quantitative Demand Analysis in France in US$ Thousand by Application: 2020-2027

Table 44: French Blockchain Technology Market Share Analysis: A 7-Year Perspective by Application for 2020 and 2027

GERMANY Table 45: Blockchain Technology Market in Germany: Recent Past, Current and Future Analysis in US$ Thousand by Type for the Period 2020-2027

Table 46: German Blockchain Technology Market Share Breakdown by Type: 2020 VS 2027

Table 47: Blockchain Technology Market in Germany: Annual Sales Estimates and Forecasts in US$ Thousand by Application for the Period 2020-2027

Table 48: Blockchain Technology Market Share Distribution in Germany by Application: 2020 VS 2027

ITALY Table 49: Italian Blockchain Technology Market Growth Prospects in US$ Thousand by Type for the Period 2020-2027

Table 50: Italian Blockchain Technology Market by Type: Percentage Breakdown of Sales for 2020 and 2027

Table 51: Italian Demand for Blockchain Technology in US$ Thousand by Application: 2020 to 2027

Table 52: Italian Blockchain Technology Market Share Breakdown by Application: 2020 VS 2027

UNITED KINGDOM Table 53: United Kingdom Market for Blockchain Technology: Annual Sales Estimates and Projections in US$ Thousand by Type for the Period 2020-2027

Table 54: United Kingdom Blockchain Technology Market Share Analysis by Type: 2020 VS 2027

Table 55: United Kingdom Demand Estimates and Forecasts for Blockchain Technology in US$ Thousand by Application: 2020 to 2027

Table 56: Blockchain Technology Market Share Shift in the United Kingdom by Application: 2020 VS 2027

REST OF EUROPE Table 57: Rest of Europe Blockchain Technology Market Estimates and Forecasts in US$ Thousand by Type: 2020-2027

Table 58: Rest of Europe Blockchain Technology Market Share Breakdown by Type: 2020 VS 2027

Table 59: Rest of Europe Blockchain Technology Addressable Market Opportunity in US$ Thousand by Application: 2020-2027

Table 60: Rest of Europe Blockchain Technology Market Share Analysis by Application: 2020 VS 2027

ASIA-PACIFIC Table 61: Blockchain Technology Market in Asia-Pacific by Type: Estimates and Projections in US$ Thousand for the Period 2020-2027

Table 62: Asia-Pacific Blockchain Technology Market Share Analysis by Type: 2020 VS 2027

Table 63: Blockchain Technology Quantitative Demand Analysis in Asia-Pacific in US$ Thousand by Application: 2020-2027

Table 64: Asia-Pacific Blockchain Technology Market Share Analysis: A 7-Year Perspective by Application for 2020 and 2027

REST OF WORLD Table 65: Rest of World Blockchain Technology Market Estimates and Forecasts in US$ Thousand by Type: 2020 to 2027

Table 66: Blockchain Technology Market in Rest of World: Percentage Share Breakdown of Sales by Type for 2020 and 2027

Table 67: Rest of World Blockchain Technology Market Quantitative Demand Analysis in US$ Thousand by Application: 2020 to 2027

Table 68: Rest of World Blockchain Technology Market Share Analysis by Application: 2020 VS 2027

IV. COMPETITION

Total Companies Profiled: 119Read the full report: https://www.reportlinker.com/p05443600/?utm_source=GNW

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Global Blockchain Technology Industry - GlobeNewswire

South Korea Brings Blockchain to Healthcare, but Thats Just the Start – Cointelegraph

The government of South Korea is trying its best to adopt blockchain technology in various industries. The countrys central bank is reviewing the use of a central bank digital currency, and various government ministries want to adopt decentralized identification features within their current systems. Hospitals, pharmaceutical companies and research centers are also looking at blockchain solutions.

Everyone knows that blockchain can help the medical industry, but at the same time, applying a new blockchain service structure to traditional industries is not so quick and simple. Lots of testing needs to be done before it can be to be applied in peoples daily lives.

The South Korean government is encouraging blockchain technology and conducting several proof-of-concept projects to find a proper way to connect blockchain to the current system. The nations Ministry of Science and ICT and its National IT Industry Promotion Agency started blockchain proof-of-concept projects in 2019.

As governments globally struggle with the healthcare implications of the coronavirus pandemic, their focuses have invariably shifted away from many chronic diseases and conditions to the more pressing concern of bringing the pandemic under control.

But behind all the noise, government health organizations are making impressive steps forward in the ways in which they use technology to analyze and respond to the challenges that chronic conditions such as diabetes and cardiovascular disease place on populations and healthcare systems.

Professionals working within health departments have long had to contend with a lack of funding that often forces them to rely upon legacy computer software and hardware that is unsuited for a fast-changing healthcare system.

This is where blockchain, and the underlying cryptocurrencies that support it, can play a role, bringing decentralized solutions to departments that rely on clear, accurate daily information to treat their patients.

In South Korea, a country that is very open to blockchain technology and its potential, this new technology is now being used to develop a blockchain-based data registry platform that has been set up to help more than 11 million people living in the country who suffer from chronic conditions such as diabetes and cardiovascular disease.

Diabetes debilitates its sufferers, leading to a reduced quality of life and a dependence on ongoing treatment and drugs to keep the disease at bay. The International Diabetes Foundation estimates that as of 2019, 463 million people suffer from diabetes globally, while South Korea has over 5 million people who struggle with the disease.

Many hospitals and laboratories rely on centralized solutions and databases to coordinate data collaboration, a method that makes it almost impossible to track the use and manipulation of the typically huge volumes of data collected and used by healthcare providers.

The use of blockchain in ordering and storing such a large amount of data will ultimately lead to efficiency improvements for healthcare staff, which means they will be able to spend more time with the people who matter: the patients.

South Korea passed new data-related regulations that will be effective in December. Once the regulations are applied, more corporations are expected to look to the benefits of blockchain for data management and storage.

Current data management systems do not allow corporations to manage data properly, as they cannot track data access or use, so some feel data management and storage could be streamlined and improved using blockchain.

With government support, blockchain adoption isnt far away, but it depends on whether people are ready to accept this new structure in certain industries. Nobody wants to be the first one to do it and take the risk, but the work of pioneering businesses means we are only one step away from much wider adoption of blockchain technology.

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Henry Hong is the CEO of Sendsquare, which created the Fleta blockchain. Fleta is a blockchain platform designed to resolve the issues of current blockchain platforms and create a sustainable blockchain ecosystem.

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South Korea Brings Blockchain to Healthcare, but Thats Just the Start - Cointelegraph

How Blockchain Technology Will Change the Marketing Industry – Cointelegraph

In modern business, there are no areas left where blockchain enthusiasts will not try to use the technology. Distributed ledger technology is used in logistics, manufacturing, games and in facial recognition services. And although many projects cannot offer anything qualitatively new except for the principle of using blockchain, some projects manage to prove their practical benefits.

Despite the illusion that marketing/advertising and blockchain tech are completely unconnected, some startups manage to use some of the advantages of blockchain technology in solving marketing problems.

Babs Rangaiah, who leads global marketing solutions for the Interactive Experience unit of IBM, said:

Blockchain is creating new ways of doing business across industries, particularly where greater trust and transparency is required. As it relates to media, we expect blockchain to be able to provide a single source of truth to any given media buy, eliminating the doubt and uncertainty that is common today.

Although for most people blockchain is strongly associated with cryptocurrencies, these are not entirely correct representations. Rather, it is DLT that has enabled cryptocurrencies to exist and not vice versa.

The technology itself is a chain of blocks with information that is sequentially added in real time and stored on devices of all members of the network. Each transaction, each addition of information to the chain, requires confirmation from all participants. This eliminates the possibility of falsification of information on the chain. It also protects it well from external interferences, as even if 90% of all devices fail, the information will remain in its original form for the remaining 10%.

Ethereum founder Vitalik Buterin is widely quoted as stating:

Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.

The second advantage of blockchain that can be applied in the marketing industry is the removal of intermediaries. According to various sources, the majority of advertising revenue remains in the hands of monopolists such as Google and Facebook. Although such companies conduct an honest policy without deceiving customers, something that many little-known sites do, working with them costs a lot of money for advertisers.

An alternative and solution for this problem is blockchain. Due to the transparency of the technology, the customer is always sure that their budget will not be used on bots, that advertising will be placed on the previously agreed resource, and the service will be provided in full. At the same time, the client does not spend money on intermediaries because the blockchain allows direct interaction between the customer and the contractor in which all processes from the execution of work to payment remain completely transparent and controlled.

In addition, blockchain allows you to spend the budget only on real people and potential customers. Each participant in the network has their own digital signature, which proves that they are not a bot or a machine algorithm, but a real person. Thanks to an excellent identification system, robotic interference is excluded in the blockchain ecosystem.

Another advantage of using blockchain in marketing tasks is the ability to work with smart contracts. The ERC-20 protocol built on Ethereum offers the ability to use a completely new type of agreement in transactions: smart contracts. At the time of the creation of the contract, it will indicate the requirements and conditions of the work performed. Further, the program simply monitors the fulfillment of the conditions and, upon completion, accrues a reward. This type of relationship is completely safe, as it protects both the client and the contractor from any fraudulent activities. This is what the marketing industry has been missing for a very long time.

In addition to the obvious advantages, there are also a number of controversial points, due to which the expected blockchain revolution in the world of marketing services has not yet occurred.

First, this is a fairly uncommon technology. Its not only that most marketers cant even imagine what a chain of blocks is, which is the basis of any cryptocurrency; a more serious flaw is the relatively small audience size. So far, the number of users of any blockchain startup may not be enough for a full-scale advertising campaign.

The second drawback is the scalability of the technology. The fact is that most projects cannot offer more than 20 transactions per second, and for marketers of business corporations, such an indicator may be insufficient, especially when compared with contextual advertising of high-frequency queries on Google or banner advertising with the sale of a new iPhone on the day sales start.

As we mentioned above, there are still not too many blockchain projects that could help marketers do their work and give customers high-quality advertising.

Despite the fact that most marketers have difficulty understanding the principles of blockchain, its advantages will be obvious to anyone. Perhaps only because of the immaturity and technological imperfection of this technology, many continue to use classical instruments. But we are confident that in a few years, every industry including marketing will appreciate the potential of blockchain and focus on it as a convenient, safe, cheap way to solve problems.

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Nick Bel is a cryptocurrency enthusiast and tech writer based in London. He is passionate about finance and emerging technologies such as blockchain, cryptocurrency and artificial intelligence.

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How Blockchain Technology Will Change the Marketing Industry - Cointelegraph

ECOCHAIN: The Next Generation of Blockchain Technology – Yahoo Finance

BANGKOK, THAILAND / ACCESSWIRE / July 10, 2020 / The ECOC Oracle System Creates and Promises One of the Best High-performance and Decentralized Platform of the Blockchain Network.

Due to the exponential growth and success of ECOChain in delivering as promised, the public chain company has not just gained the full support of the Thailand government but is now the largest blockchain company in Thailand. Since its inception and launch in 2017, the ECOChain community continues to grow. It has expanded to a dozen countries, including Thailand, Korea, Vietnam, Japan, China, Philippines, Indonesia, Russia, and the United States.

The third-generation high-performance public chain is designed and equipped with valuable features that are predicted to disrupt the inefficient and outdated services in the crypto-industry. The ECOC Oracle System is a significant leap forward in the blockchain technology application.

With a sole aim to boost the use of Oracle in the blockchain ecosystem, ECOC also finalised about the mechanism which incentivizes rational oracle, to be honest, may solve the oracle problem onchain, which help everything to be settled on the first layer i.e. ECOC. This research will help the blockchain community to adopt the usage of oracles during DApps implementation.

The ECOC said to have a consensus mechanism for oracles to guard the change of the internal state of the smart contract. The idea is to have blockchain as the first layer to make sure data is accurate, then granting permission on the smart contract.

The dedication of the ECOC team and advisors is reflected on how successful the public chain company has grown, achieving each milestone as it goes. From the launching of ECOC itself, the company has been able to solve the industry's high transaction processing speed requirements (560 TPS). Solved the problems of data storage and application, including issues related to sharing, forging, source traceability, and high costs.

ECOC has anchored the cross-chain feature of smart contracts, and also solved the high storage requirements of application scenarios (block size is 4MB), built convenient tools for application development in the technical field (Turing completeness), and achieved high output (TpS).

Based on its Bitcoin and Ethereum, ECOC is said to adopt the PoS consensus algorithm, adhering to the most basic decentralized spirit of the blockchain. This decentralization allows for greater flexibility, a trustless/full permissionless system, and a lowered risk of systemic failure.

"ECOchain is a fast, and eco-friendly permissionless public chain that is truly decentralized. The chain has a short block creation time (32 seconds) and also offers high on-chain transactions per second (560 TpS). For smart contracts, ECOchain runs Ethereum Virtual Machines (EVM), making easy the development as solidity is a well-known language by blockchain developers."

As mentioned above, the ECOC has powerful performance and has proven to solve several application scenarios. The third-generation high-performance public chain has reached multiple achievements in the field of application and is looking to make even more advancements in the world of cryptocurrency.

Looking to set the pace in the financial market and blockchain industry at large, ECOC guarantees a more transparent and secure platform. By integrating blockchain and alleviating the problem of information asymmetry, information is more user-controlled and tightly secure.

Story continues

Having issued 2 billion ECOC coins and over 80 million in circulation, ECOChain has established itself as one of the leaders in the cross-chain industry.

For more information or inquiry about ECOChain, please visit https://ecoc.io

Media Contact:

Contact Person: Natthaya

Email: contact@ecoc.io

Phone Number: (+66)-02-101-9973

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ECOCHAIN: The Next Generation of Blockchain Technology - Yahoo Finance

Blockchain Bites: Coinbase’s Untraditional Investor Day and the Ethereum-EOS Arms Race in Latin America – CoinDesk – CoinDesk

Coinbase will host its first investor day, New York State prosecutors won a jurisdictionaldispute involving Bitfinex and a protocol arms race is unfolding in Latin America. Heres the story:

Youre readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why theyre significant. You can subscribe to this and all of CoinDesksnewsletters here.

Top shelf

Not Your Traditional Investor DayOn the same day Reuters reported Coinbase is looking to go public, the exchange scheduled itsfirst-ever investor day,for Aug. 14. Investor days can often signal a planned direct listing, Jamie McGurk, a former operating partner at Andreessen Horowitz, has said.This will not be a traditional investor day, but rather an opportunity to hear our perspective on the cryptoeconomy and learn about Coinbases role in the ecosystem, said Coinbase spokesperson Daniel Harrison.

Employment KerfuffleFormer Tron Foundation employees arechallenging a court orderallowing the foundation to settle a lawsuit through arbitration, rather than in court. The initial complaint centers around allegations of wrongful termination and hostile work practices at BitTorrent, a file-sharing service acquired by the Tron Foundation.

Appeal DeniedBitfinex will have toface allegations from New York State prosecutorsthat it lost $850 million in client and corporate funds and tried to cover this hole with funds from the affiliated tether stablecoin, according to a ruling by the State Supreme Courts Appellate Division on Thursday. The exchanges parent iFinex initially claimed the prosecutors didnt have jurisdiction over the Hong Kong-headquartered firm, which the appeals court rejected. The court also dismissed the argument that tether was neither a commodity nor a security.

Canaan ShakeupThree Canaan Creative directors were dropped from the companys business registry, promptingspeculation of a power grab.For months an internal power struggle between co-founders Micree Zhan and Jihan Wu has wracked the Nasdaq-listed firm, which has been suffering growing competition and reduced profits following the Bitcoin networks programmatic halving.

Ethereum v. EOSEthereum and EOSIO are battling it out overenterprise blockchain businessacross Latin America. The square up pitsConsenSys in one corner and LatamLink in the other, a project backed by the Inter-American Development Bank, over which decentralized protocol will win the arms race.

Quick bites

The big picture

Venezuelas Real Use CaseAfter airdropping cryptocurrency to 60,000 users in Venezuela, an AirTM survey gives a snapshot ofhow crypto is actually used in the economically troubled nation.

Venezuela is often a proving ground for do-gooding crypto companies and protocols. Payments network Dash, for one, famouslymade headwayin the nation beset by hyperinflation.

AirTM distributed approximately $300,000 worth of crypto to Venezuelans, and while only 57% of recipients engaged with the funds, many were able to successfully use the donations to buy food and medicines. Others began treating the AirTM platform as a personal bank.

The bigger picture is coming into focus: Crypto only becomes a viable alternative to traditional financial systems if there is robust infrastructure to support it. If Venezuela offers an example of bitcoin usage, then it appears there is user demand for bitcoin-friendly services provided by a regular fintech company, CoinDesks Leigh Cuen reports.

Market intel

Balance Sheet Contractions. Bullish for Bitcoin?As the U.S. Federal Reserve begins to unwind its balance sheet,contracting $88 billion to $6.97 trillion(-1.5%) in the week ending July 8, some crypto observers are saying this could have negative consequences for bitcoins price. Thats because in recent months bitcoin has been positively correlated with traditional assets, which have rallied on the back of the Feds balance sheet expansion. But thats far from the consensus view. Zooming into the details of the Feds balance sheet reveals the reduction has been primarily driven by a drop in demand for emergency liquidity measures, a sign the coronavirus-induced stress in the financial system has eased, CoinDesks Omkar Godbole writes.

Opinion

Blockchain Credentials, Not CredentialismBlockchain certification can verify expertise and experience, making transferring schools and changing jobs easier. Butcertificate proliferation may be a bigger problem,argues Stephanie Hurder, a CoinDesk columnist and founding economist at Prysm Group. Non-degree credentials, such as badges and certificates, in particular are rapidly multiplying because they can now be digitally transmitted and verified at a minimal cost, she writes.

Podcast corner

Inequality, Social Chaos, Bankruptcy RalliesFrom the Robinhood Rally to the most profit-disconnected stock market in history, these are the mostinteresting ideas from FinTwitlast month.

Who won #CryptoTwitter?

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Blockchain Bites: Coinbase's Untraditional Investor Day and the Ethereum-EOS Arms Race in Latin America - CoinDesk - CoinDesk

Pilot Program Test Blockchain Technology to Improve Container Handling – The Maritime Executive

(file photo)

By The Maritime Executive 07-10-2020 05:57:17

A new trial program being launched at the Port of Rotterdam and involved some of the world's leading shipping companiesis the latest example of the ports and the container shipping industry working together to realize the potential to use digital technology to improve the safety and efficiency of the shipping process. Using a blockchain application, shippers will authorize the release and movement of containers replacing the traditional PIN code system that requires manual processing and is more susceptible to errors and delays.

"By taking advantage of new technologies, we can make our port operations smarter, swifter, more efficient, and safer, says Emile Hoogsteden, Director of Commerce of the Port of Rotterdam Authority. The current pilot project is a good example. During this project, the different participants will be using a blockchain application that enables them to safely and efficiently organize the release procedure followed by the various parties in the chain."

Every year, millions of containers are unloaded in the port of Rotterdam and forwarded to destinations. Collecting these containers is a complicated process used at most ports around the world, during which shipping companies, freight forwarders, transport firms, and terminals need to work closely together to ensure the swift and safe release of this freight.

The procedure involved to order the shipment of the container and to remove it from the terminal requires a range of manual actions from different parties. Any hitches or errors in the release process can result in wasted time, cause complaints and aggravation among clients and partners, and introducethe potential of fraud. Drivers need to have a valid pick-up right to remove a specific container from the terminal. This authorization is issued by a shipping company, which often hands it to the freight forwarder which orders a transport firm to retrieve the container at the terminal. Currently, the pick-up right is confirmed to the terminal using a PIN code.

The pilot project will be testing how best to improve the safety of the container release process throughout the chain, from the shipping company to the end-user. During the pilot project, the pick-up rights for the containers will be converted from a PIN code into a digital token that is moved along the process with the aid of a blockchain-based application.

The organizers of the project compare the technology being used to that of a banking or financial transaction where the data involved remains exceptionally secure. They say that the blockchain technology prevents the authorization from being stolen or copied along the way making the release faster and safer for everyone in the chain. The terminal operator can rest assured that the container has been released to the correct driver as there is only one valid token. The token is also confidential meaning that details about the chain and commercial relationships are not exposed during the process.

Participants in the three-month trial include CMA-CGM, Hapag-Lloyd, MSC, ONE-Line, Hutchison Ports ECT Rotterdam, Rotterdam Fruit Wharf, Milestone Fresh, VTO, Portmade, and the application developer T-Mining.

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Pilot Program Test Blockchain Technology to Improve Container Handling - The Maritime Executive

Report: VeChain one of the most innovative blockchain companies – Crypto News Flash

Source: Diego Ioppolo - Shutterstock

The Shanghai Municipal Economics and Information Commission together with the Financial Information Association published a new report that recognizes VeChains innovation in the blockchain sector. Called 2020 Global Blockchain Innovation Applications, the report highlights 3 of VeChains most important projects in Shanghai province: its partnership with Shanghai Gas, Walmart and H&Ms sustainable deployment.

The report uses four criteria to evaluate the projects: the amount of progress they have made and their level of innovation, as well as their ability to be replicated in other scenarios and to be demonstrated. The Commission and Shanghai Association evaluated projects in different industries and sectors. Culture, Entertainment, Government, Financial Services, these were just some sectors evaluated.

The first of the VeChains projects in Shanghai that the report points out as a case of innovation is the Shanghai Gas project. As reported by CNF, VeChain partnered with Shanghai Gas in April this year. The cooperation enabled VeChain to establish an energy as a service ecosystem.

In the report, it is noted that this ecosystem together with a new blockchain infrastructure improved trade, financial service innovation and industry data sharing in the province. VeChain partner PriceWaterhouseCoopers offered its consulting services in project development and research. In this way, the cooperation was able to overcome obstacles faced by the industry, especially in the management of logistics operations.

The report highlights the cooperation between VeChain and Walmart Shanghai. At the end of last year, both companies launched the Walmart China Blockchain Tracking Platform (WCBTP). Based on the VeChainThor blockchain, the supermarket chain has been able to expand the variety of products it offers to its customers.

In addition, Walmart can share information about its products with suppliers and customers. They can track a given product from the beginning of the supply chain until it reaches their nearest Walmart store. Once there, customers can use the WCBTP to receive all information regarding a product.

Finally, the report highlights the partnership between VeChain and DNV GL to verify and track products, materials and processing plants for the H&M group. The partnership began in 2018 and has enabled the fashion giant to find the best sustainable and recyclable materials to produce its clothing.

The partnership is based on the blockchain Mi tracking solution Story. The solution allows for the documentation and complete tracking of products worldwide from the point of production to the end user. My Story has already been used to track high-quality Italian wine, Norwegian salmon and a range of other food products.

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Report: VeChain one of the most innovative blockchain companies - Crypto News Flash

Could We Fight Misinformation With Blockchain Technology? – The New York Times

Times Insider explains who we are and what we do, and delivers behind-the-scenes insights into how our journalism comes together.

When a news photo makes its journey from a camera to publication, it passes through many devices, technologies and people. Each step in this journey is designed to ensure the truthfulness and accuracy of the person or event depicted in the photo. However, once the photo makes it to the internet, it can end up anywhere in a matter of minutes sometimes without its original context or with purposely misleading information.

The Research & Development team at The New York Times has been exploring a number of different solutions to address the issue of misinformation online. One of those explorations experimented with blockchain technology.

Blockchain is a database technology that allows multiple organizations to read from and write to a shared database. It tracks these changes in a log of actions, otherwise known as a ledger.

We built a prototype that leveraged blockchain to surface a news photos metadata, or under-the-hood information that exists in image files, on a simulated social media feed. We wanted to see whether visible contextual information, such as the photographers name and the location depicted in the photo, could help readers better discern the credibility of news photos in their social feeds.

We wanted to see if it was possible to record everything that happens to a photo, from capture to publication, in the form of photo metadata and display that information on social media platforms.

For our prototype, we created a private network of theoretical news organizations and a simulated social media platform that shared ownership of a database and a ledger. The news organizations that were part of the network could make changes to photo metadata in the database. The ledger ensured that there was a transparent record of the time and author of the changes.

If we were able to successfully implement our vision for this technology in the real world, it might allow a social media user to quickly verify whether a viral photo of an altercation between police and protesters actually happened in the time and place that an unfamiliar Facebook account purports it did, rather than, say, five years earlier in a different context.

We focused on a simple scenario where a news organization was aware of a photos origin information and was responsible for publishing the photo in an article. We constructed a blockchain network that involved three network member organizations, or nodes: two theoretical news organizations (Local Gazette and National News) and one social media organization (the Social Media Platform).

With these nodes, two different news organizations could run photos and update their associated metadata; the news organizations could publish the same photo in different articles; and the social media platform could access all photo history and publishing information.

For our prototype, we kept it very simple: Only one other organization needed to approve usages, and every usage was automatically approved. For example, anytime Local Gazette wanted to add a new photo to the database on the blockchain, it had to get permission from National News. But National News automatically approved the transaction without actually checking for truth or accuracy.

After conducting 34 user research interviews with people with different political perspectives, we came up with a list of contextual information that the people in our interviews found most useful about a photo, such as who took it and where it was taken.

This exercise helped us construct a data model for storing metadata in our blockchain database in the form of a photo record.

The people we interviewed indicated that in addition to learning about the origins of a photo, they wished to understand the publishing history of a photo, such as where the photo had been published and what captions had been written for it.

Because news services, like The Associated Press or Reuters, often work with multiple news organizations, a single photo might be published in many different news articles. With this in mind, we created a separate publishing record in our data model that would enable us to track publishing information around a photo.

When testing our prototype with users, we found that it effectively helped them make informed judgments about photos in a social media feed. But more research and exploration needs to be done.

In order for a blockchain solution to become a reality, news organizations with varying financial and technical resources need to be able to participate. Finding ways to lower the barriers to entry is an essential component of any future explorations.

This experiment taught us a lot about the power of credible, contextual information in social media feeds, but there is a long way to go before something like this can be fully realized. Nevertheless, there is a large opportunity for using blockchain to help fight against misinformation in news photos. As with any network, its only as powerful as the size of its participation.

A version of this article appeared in NYT Open, The Timess blog that shares how we design and build products for news.

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Could We Fight Misinformation With Blockchain Technology? - The New York Times

An Insight into Blockchain and IP’s Cryptic Relationship – Lexology

INTRODUCTION

Blockchain has been one of the most exciting and emerging technologies in recent times garnering a plethora of attention from various market players such as financial institutions, healthcare providers, start-ups, sovereign governments, etc. Blockchain technology has immense potential which can be harnessed in several sectors such as banking, supply chain, healthcare, retail, travel, etc. Consequently, with the advent of Blockchain technology, its interplay with patent and trademark law is rapidly increasing.

Before diving into the interplay of trademark and patent law with Blockchain, it is imperative to define what exactly is the concept of Blockchain. A Blockchain is a digital, immutable, distributed ledger that chronologically records transactions in near real time. The prerequisite for each subsequent transaction to be added to the ledger is the respective consensus of the network participants (called nodes), thereby creating a continuous mechanism of control regarding manipulation, errors, and data quality.[1] Blockchain is of three types: public, permissioned and private. As the name suggests in a public Blockchain anyone from around the world can participate whereas in a private blockchain only the chosen participants can participate and authenticate the transactions.

TRADEMARKS AND BLOCKCHAIN

Trademarking Blockchain related technology is tricky considering that anonymity or pseudo anonymity is at the heart of Blockchain related technology, which directly clashes with trademark law wherein the point of a trademark is to identify the particular source wherefrom the goods or services originate. Public Blockchain related technologies are built on the decentralised system wherein the Blockchain is not owned by any one particular entity. The community based Blockchain thrives on participation by the public and such participants cannot be identified as Applicants of the trademark as the participants can change at any point of time. Further, in several countries, cryptocurrencies, which have been one of the most popular uses of the Blockchain related technologies, have been declared illegal. In India, though the Supreme Court of India has lifted the blanket ban imposed by the RBI (Reserve Bank of India) on virtual currencies, however in the same breath the Supreme Court has cleared the way for RBI to formulate stringer policies while admitting that the RBI has the authority to regulate cryptocurrency.[2]

Therefore, trademarking Blockchain technologies/ cryptocurrencies which are decentralised may be difficult owing to the above challenges. However, the name of a centralised cryptocurrency which emanates from and is distributed by one single source can be protected. It is pertinent to note that the terms BLOCKCHAIN and BITCOIN have been granted registration by the Indian Trademark Office as per the details below:

PATENTS AND BLOCKCHAIN

Patents for Blockchain based technology come within the realm of computer software as it involves the combination of a computer application and cryptography. However, vide Section 3(k) of the Indian Patents Act, 1970, computer programme per se is non- patentable in India. In the case of Telefonaktiebolaget Lm Ericsson v. Intex Technologies[1], the Delhi High court while interpreting the term per se stated, any invention which has a technical contribution or has a technical effect and is not merely a computer program per se is patentable. This interpretation was once again upheld by the single judge of the Delhi High Court in Ferid Allani vs Union Of India & Ors.[2] ,wherein it was held If the invention demonstrates a technical effect or a technical contribution it is patentable even though it may be based on a computer program. Further, the judge also observed, Innovation in the field of artificial intelligence, blockchain technologies and other digital products would be based on computer programs, however the same would not become non- patentable inventions - simply for that reason.

Thus, as long as the Blockchain technology has a technical effect or a technical contribution and is not merely a computer software, it may be considered to be a patentable subject matter. Apart from being a patentable subject matter, it is necessary that the Blockchain technology passes the tri- test of novelty, non- obviousness and industrial application. Though there is no doubt of the industrial application of Blockchain technology as it can be seen in the form of cryptocurrencies, smart contracts etc., there can be hurdles in passing the test of novelty and non- obviousness. Blockchain in itself is said to have limited novel features as Blockchain is an already established medium for conducting transactions.[3] Therefore, for the innovators it is advisable that they direct the existing Blockchain medium towards new technologies, or towards improvements in the computer functionality or the underlying Blockchain technology itself in order to obtain patents. The Indian IPO appears to be welcoming Blockchain related Patents as in the year 2018, India was ranked at number 6 in the number of Blockchain based patent approvals with 67 Patent applications being approved.[4] As on today there are more than 300 published Patent Applications based on Blockchain technology in India.

It is interesting to note that the Indian Intellectual Property Office (IPO) is itself open to embracing Blockchain related technologies to expedite and strengthen its processes. In 2018, the office of the Controller General of Patents, Designs and Trademarks floated a tender inviting eligible parties to submit their proposals for making use of Artificial Intelligence, Blockchain, IoT and other technologies in the Patent Processing System of the IPO.[5] From the tender it can be gathered that the IPO intends to utilize Blockchain based technology to streamline the registration process by encouraging information sharing by the rights holders.

CONCLUSION

The advent in the digital space calls for an overhaul in the IPO guidelines and proper training of the Examiners and Legal Practitioners for both patents and trademarks so as to fully clinch the wonderful possibilities that Blockchain technology can open up and it will be interesting to see the future trend of grants of patents and trademarks for Blockchain related technologies.

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An Insight into Blockchain and IP's Cryptic Relationship - Lexology

7 of the Best Blockchain Stocks to Buy in 2020 – WTOP

These companies offer exposure to blockchain. Blockchain technology is probably most widely associated with cryptocurrencies like bitcoin, but the distributed

These companies offer exposure to blockchain.

Blockchain technology is probably most widely associated with cryptocurrencies like bitcoin, but the distributed ledger technology has the potential to transform other areas as well. It can make banking transactions faster, health care and property record keeping simpler and enable the use of smart contracts. There are many companies out there trying to tap into the growing adoption of blockchain technology. Investors should know that many of the publicly traded companies offering pure-play exposure to the blockchain universe are small, have liquidity issues and dont come with a long track record on the market. Others are well-established firms that offer the stability of a larger company but whose revenue streams arent as greatly impacted by blockchain offerings as the smaller companies. If youre interested in this emerging tech, heres a look at seven of the best blockchain stocks to buy this year.

Intel Corp. (ticker: INTC)

This traditional technology company might not be the first name that comes to mind for exposure to blockchain technology, but Intels new Software Guard Extensions (SGX) technology, which the company says offers hardware-based memory encryption that isolates specific application code and data in memory, can benefit blockchain transactions as well as autonomous driving and artificial intelligence applications, says Eric Ervin, CEO of Reality Shares. His company offers the blockchain exchange-traded funds Reality Shares Nasdaq NexGen Economy ETF (BLCN) and Reality Shares Nasdaq NexGen Economy China ETF (BCNA). While Intel is a large company that derives its revenue from other sources besides blockchain technology, SGX tech could help sales if it is widely adopted.

International Business Machines Corp. (IBM)

Another large traditional tech player making steps into the blockchain world is IBM. The companys open source blockchain framework, Hyperledger Fabric, is the leading framework enabling enterprise blockchain platforms, Ervin says. While Hyperledger is open source meaning anyone can use it for free companies tend to come to IBM to have the company create implementation for them, a service for which IBM charges, Ervin says. While that helps IBMs revenue, Ervin suspects that Hyperledger activities make up a pretty small percentage of IBMs sales. That will probably remain the case over the next few years, he adds. But as investors see blockchain adoption starting to accelerate, they may make increasing bets on IBMs Hyperledger revenue, helping boost the stock price.

Canaan (CAN)

When it comes to the best blockchain stocks with a much bigger percentage of revenue from the technology, Ervin likes Canaan. The company manufactures hardware used in cryptocurrency mining, which is the process by which a network of computers is used to verify transaction information on cryptocurrency networks. Ervin likes Canaans prospects. Because of the nature of the mining industry, equipment becomes obsolete quickly as miners look for more powerful and energy-efficient tools. That gives mining equipment makers the chance to sell newer, more expensive items. Still, unsold equipment can be a risk for hardware makers and can lead to pressure to discount older models. The volatile price of bitcoin is also a risk, as miners may not want to put money into new equipment when prices are low.

Galaxy Digital Holdings (GLXY.V)

Michael Venuto, chief investment officer with Toroso Investments, which manages the investment strategy and portfolio selection for the Amplify Transformational Data Sharing ETF (BLOK), says Galaxy Digital is one of Torosos favorite ways to get exposure to the blockchain universe. A digital asset, cryptocurrency and blockchain technology sector company, Galaxy Digital is involved in asset management, venture capital investments, trading and investment banking. We find it to be one of the best pure plays, Venuto says, who thinks the company is undervalued. Because it trades in Canada, the company has less institutional money pushing its stock price up. Also, the assets it owns through its venture capital arm are hard to value, leaving investors to focus on other parts of its business. Those venture capital investments could be worth more in coming years, he adds.

Silvergate Capital Corp. (SI)

This California-based banking company has become the premier banker focusing on blockchain and cryptocurrency companies, Venuto says, and it deserves a spot as one of the best blockchain stocks to buy. While Silvergate is a relative newcomer to trading publicly, only debuting its initial public offering last year, the companys Silvergate Bank subsidiary has been profitable for more than 20 years and began pursuing digital currency customers in 2013. In its latest quarterly report, the company said digital currency customers grew to 850 as of March 31, compared with 617 the year prior. Youre getting exposure to the growth of the industry, Venuto says. This year, the company launched a new product that allows customers to obtain U.S. dollar loans collateralized by bitcoin and held at digital currency exchanges that are also Silvergate Bank customers.

Square (SQ)

While many investors may have heard of Square, or at least seen the companys card-swiping devices at coffee shops or on cellphones, they may not be as aware of the companys involvement in cryptocurrency. Squares Cash App includes a feature permitting customers to buy and sell bitcoin. With that comes a whole infrastructure and culture associated with the cryptocurrency, says Dan Weiskopf, a portfolio manager with Toroso Investments. He says the leap into that culture is a mark of solid management decisions to target the blockchain space. In its latest quarterly financial results filing, Square said bitcoin revenue increased by $240.6 million, or 367%, over the prior year. The increase was due to growth in the number of active bitcoin customers, as well as growth in customer demand, the company said.

Intercontinental Exchange (ICE)

In 2018, New York Stock Exchange owner Intercontinental Exchange announced the launch of Bakkt, which uses Microsoft (MSFT) cloud solutions to create an open and regulated global ecosystem for digital assets. ICEs project, which brings institutional infrastructure to digital assets, is an extremely important contribution to the wider adoption of blockchain, Venuto says. Bakkt offers a regulated bitcoin custody solution as well as bitcoin futures and options, and ICE has announced a new consumer app and an acquisition of a perk program platform. This combination will position Bakkt and its consumer app as an aggregator and a marketplace for a broader set of digital assets such as airline miles and loyalty points, and will expand Bakkts presence across this $1 trillion dollar asset class, ICE said in its latest annual report.

Seven blockchain stocks to buy:

Intel Corp. (INTC)

International Business Machines Corp. (IBM)

Canaan (CAN)

Galaxy Digital Holdings (GLXY.V)

Silvergate Capital Corp. (SI)

Square (SQ)

Intercontinental Exchange (ICE)

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7 of the Best Blockchain Stocks to Buy in 2020 originally appeared on usnews.com

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7 of the Best Blockchain Stocks to Buy in 2020 - WTOP

CREAM co-founder: Thats why VeChain is the no. 1 enterprise blockchain – Crypto News Flash

Source: Diego Ioppolo - Shutterstock

Jackson Fu, co-founder of CREAM, an investment incubator for the blockchain and crypto industry, has written a blog post explaining why VeChain is the number one blockchain technology for enterprise adoption. As Fu describes, VeChain provides solutions to core problems that no other crypto project has been able to deliver to production.

Fu states that the cooperation between VeChain, Fresh Supply Co. and Alipay Australia is a prime example of why VeChain has already convinced large corporations and government initiatives on several occasions in the corporate sector. By using logistics data logged via IoT devices on the VeChainThor Blockchain, Alipay Australia can offer to provide the supplier with a loan for their goods, which are then quickly shipped to the buyer in China.

The old-fashioned method, which usually gives a payment term of 90 days+ and goods are not shipped until payment is received, is revolutionized by VeChain, as Fu describes:

Alipay uses Trustworthy Immutable Data to validate logistics data independently, rapidly accelerating the speed at which value can circulate through the economy. This simple advancement in blockchain application can potentially disrupt supply chain finance industry as a whole. Creating values for not just producers, buyers and logistics companies, but financial services companies as well.

A core problem that VeChain solves is what Fu calls the garbage in = garbage out problem. This is that within the supply chain industry there is a trust problem that is currently being solved by auditing giants such as DNV GL, PwC, SGS, Intertek, NQA etc. who have built a hundred billion dollar CTI industry (certification, testing, inspection). However, the use of this service is expensive.

Blockchain solves this trust problem by making the data unchangeable by involving world leaders in quality assurance to ensure data quality.

VeChain has been extremely intelligent in how it addresses this age-old issue. By partnering up with key providers who are leaders of C.T.I. industries such as DNV-GL, PwC and others, companies are able to ensure the quality of theirs and their suppliers internal processes, providing assurance for the quality of data entering the blockchain in the first instance.

By guaranteeing the quality of data, enterprise clients can enable numerous new kinds of collaborative business models. [] This is a win-win situation for both VeChain and assurance giants as the value of trust is now transparent and enhanced for all stakeholders.

According to Fu, one problem that VeChain solves like no other crypto project is the basic technical and practical design of the blockchain at the protocol level. This starts with the scalability of the blockchain, continues with the difficulty of use and the upgrade process and ends with the fluctuating transactions fees. According to Fu, VeChain has solved all these problems with the Proof of Authority (PoA).

VeChain has a unique structure there are 101 block producing nodes globally as part of its Proof of Authority (PoA) consensus mechanism. This number strikes the perfect balance of decentralization, scalability and speed, perfectly addressing the blockchain trilemma.

According to Fu, VeChain also has a simple and ingenious solution to the cost problem: The introduction of the two token system consisting of VET and VTHO. VET, the native token generates VTHO and VTHO is used to pay for transactions in the network. VTHO can be used to compensate for price fluctuations:

When network activity grows and VTHO gets too expensive as a result of increasing market demand, the cost of a transaction in VTHO terms can be reduced, allowing the network to maintain a stable transaction cost in dollar terms.

Furthermore, companies using VeChain do not have to hold and store both VET and VTHO themselves. The delegation of fees (VIP-191) solved the problem that companies using public blockchains have to own the cryptocurrency by allowing named third parties to pay the transaction fees. Thus, companies can easily use the VeChainThor blockchain just like any other internet based service.

With the invention of the fee delegation, VeChain has successfully removed one of the biggest hurdles to implementation, namely the need to directly manage crypto to pay for the use of the network.

The ToolChain Credit (TCC) functionality has recently been further enhanced by allowing companies to easily take a crypto-credit to write data to the blockchain when using the ToolChain, VeChains all-in-one blockchain toolkit. This, according to Fu, is a huge step forward for regions where cryptocurrencies like VET and VTHO are in a gray zone:

This new addition completely removes the need for companies to interact with crypto, enabling the widest possible user base for the network by providing a solution for companies in legally grey jurisdictions, like the US and China.

Originally posted here:

CREAM co-founder: Thats why VeChain is the no. 1 enterprise blockchain - Crypto News Flash

Breaking the Blockchain Myths – thepolicytimes.com

Blockchain is fast becoming an integral part of emerging technology ecosystem with multiple use cases across industry verticals and we at Pinaki Softcon are at the helm of using this technology for fulfilling various use cases for our clients. We have not only implemented this technology to bring use cases at living, instead have been pivotal in extending our knowledge base and learnings to the wider community for adoption. Across the globe, we have deputed our experts who work on this technology and acts as a change agent by imparting classroom and virtual training on this technology. Our expert network solves client problem by using this technology from Backoffice and front office perspective which spans across various geographies along with the heterogeneous digital landscape.

Technology adoption is fast accelerating disruption because technology firms form a major share of companies that entered and exited S&P 500 Index. Blockchain is one of such technology which is more than just digital because it is distributed along with tamper-proof database which allows participants to share data and transact based on a single version of the truth. These are also considered as a digital ledger or logs which records electronic transaction that occurs between two parties and these two parties do not know each other and directly engage in a peer to peer network of connected computers. Rather than relying on the third-party middleman, the network collectively reaches agreement or consensus on which transactions are legitimately using a consensus mechanism.

Once the network approves the transactions, the same gets posted to the digital log. In this technology, the attempted transactions are first grouped together in a block, which then gets verified all at once (by proof of work mechanism) and added to a long chain of blocks, which is the reason it is called as Blockchain. These blocks are linked together using cryptography so that it cannot be surreptitiously edited or tampered with the transaction data on a block once it is added to the chain. The transaction details are transparent and verifiable by the public; however, the identities of the buyer and seller are hidden behind their public username, which is long alphanumeric addresses.

People do confuse blockchain with bitcoin, however, the later uses the technology which is based upon the fundamentals of blockchain. The creator of the bitcoin ingeniously derived a system using computer networks, cryptography and game theory which is collectively called as crypto-economics and are used for parties around the world who do not need to know each other to conduct and record transactions. The bitcoin cryptocurrency which is also called as a token is the digital currency that users send to transfer value. Other such examples based upon the fundamental of blockchain are the smart contracts which are a type of contract written as software rather than being in the legal text. In theory, contracts written in the software are cheaper to interpret, because their operations are literally mathematical and automatic which makes them difficult to be interpreted and there would be no need for expensive legal battles.

Blockchain technology is fast emerging in different industry verticals because it is capable of storing the information in the chain and is nearly impossible to be identified and thus industry verticals like financial services, insurance and mining are widely using this technology for storing and transmitting the information in their value chain. The fact of the matter is that this technology is promising if implemented correctly with the right partnership and industry-wide support which can enable multiple business use cases like diamond batch tracking, insurance premium and claim processing, land record maintenance etc. It wont be unfair to say that, we are still in the early days across geographies in terms of adoption of technology and many institutions across industries and exchanges are doing POCs and beta testing.

By Sadaf KhanChief Operating OfficerPinaki Softcon

Summary

Article Name

Breaking the Blockchain Myths

Description

Blockchain technology is fast emerging in different industry verticals because it is capable of storing the information in the chain and is nearly impossible to be identified and thus industry verticals like financial services, insurance and mining are widely using this technology for storing and transmitting the information in their value chain.

Publisher Name

The Policy Times

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Breaking the Blockchain Myths - thepolicytimes.com

Blockchain technology on the rise in Rwanda – The New Times

The Global blockchain Association (GBA) has entered a 5-year partnership with Africa Blockchain Institute currently operating in Rwanda. The deal aims to roll up ground for the emerging technology behind the Bitcoin network.

GBA is a global community helping governments and organisations around the world to understand, implement, and benefit from blockchain technology.

Ghana-based, Africa Blockchain Institute in Januaryopened in Rwanda, becoming the first institution to offer professional courses on blockchain in the country.

Its Executive Director, Kayode Babarinde said thepartnership willscale up blockchain infrastructure across Africa, starting from Rwanda.

The infrastructure is already being set-up, with experts working around governance and understanding of Blockchain. Now the deal is to extend activities to Africa, being the major benefactor of Blockchain Technology, with focus on governance systems and operations, Babarinde said.

Described as an open, distributed ledger, blockchain is a record-keeping technology which ensures more transparency and decentralization for transaction of value.

Striving to spearhead the penetration of digital technology on the African continent, Rwanda becomes the partnerships centerpiece because it knowssome corners of the house, said the blockchain expert.

Currently, a handful of projects are known to run through this technology in the country. They includemineral tracingandSpenn, a money transaction mobile app. This paper has learned that other projects are running in the pipeline under the ICT ministry, including a blockchain-based gorilla trekking mobile game.

Despite moderate developments, however, some countries have been criticized for being slow in unlocking the opportunities that blockchain has to offer.

Jean Bosco Ahorukomeye, a Rwandan lecturer at Zigurat Innovation and Technology Business School, University of Barcelona, Spain, points out the latency results from insufficient skill set among policy makers and implementers.

You cannot leverage opportunities blockchain offers if you dont know what it is capable of doing, Ahorukomeye said in a phone interview.

Ahorukomeye further said the technology is so disruptive that it can erase all unnecessary costs one faces, for instance, while making money transactions between countries - exorbitant currency exchange rates, transaction fees, transport among others.

Meanwhile, Lilian Uwimana of Kipya Big2Big Ltd, a Uganda-based fintech company involved in trading of cryptocurrencies, says many people are excited about blockchain, but are blocked by a negative attitude towards the technology due to the little knowledge about it.

Yet, blockchain is peer-to-peer. It removes all the above middlemen - banks, forex bureaus, and central banks. As a blockchain expert, Ahorukomeye argues that governments are afraid to surrender the control.

On a bright side regarding money, he finds a take-or-leave alternative: central bank digital currencies. Like China, governments can digitize national currencies which will be stable, regulated and controlled by central banks, yet carrying blockchain pillars of transparency (open to everyone) and immutability (inability to be tampered with).

Besides the above cases, blockchain technology can be used to register anything of value, medical records anddigital identities, which cut out many sorts of document forgery andrelated cyber frauds.

Very few countries in the world have established their stance on this technology. Tech analysts believe that a country that will lay out a regulatory framework before Libra, Facebooks hyper-disruptive crypto, hits the road, will attract a pool of investments.

Looking at the ICT map [of Rwanda], Blockchain is the 6th core technology needed in the country, however slow the government is, they can't escape Blockchain. It is our job to get them on the know, Babarinde observed.

editor@newtimesrwanda.com

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Blockchain technology on the rise in Rwanda - The New Times

Alchemy Aims to Transform Blockchain Development with New Build Tools – Cointelegraph

While it may be a long-standing joke in the developer community that any bug can be turned into a feature simply by documenting it, the fact is that blockchain deployment is often mission-critical. Whether its at the protocol level within a permissioned enterprise solution, on a public chain, or within an app that processes financial transactions, dependability is not optional.

And as DeFi soars, the importance of identifying systemic weaknesses in code has never been clearer.

Some blockchain companies offer major bug bounties to white hat hackers who seek flaws and exploits in their code; some delay launches for months as their developers track down possible attack vectors and frailties. And in the future, some will use Alchemy Build a suite of developer tools designed to take some of the time, money, and uncertainty out of building blockchain applications.

For the Ethereum ecosystem to thrive, developers need to spend less time fixing the same issues over and over, and more time building products that provide value to end users. Alchemy Build enables hundreds of teams to focus on building great blockchain products, helping push the ecosystem months or years ahead, explained Joey Krug, co-founder of Augur and co-CIO of Pantera Capital.

Nikil Viswanathan of Alchemy claims internal research has shown that blockchain engineers spend up to twelve hours every week on work related to debugging, customer issues and release cycles work that is not only tedious and expensive, but that also diverts the creative brains of developers away from building solutions. Its a situation Viswanathan describes as untenable in the long-term.

Blockchain development is like asking someone to build a skyscraper with a shovel and a hammer, he declares. We want to make it fundamentally easier to actually do the job.

Web 2.0 has industry-standard tools such as DataDog, which accelerate prototyping and debugging, added Paul Veradittakit of Pantera. But within the blockchain industry, were still putting people to work on basic tasks such as decoding hexadecimal, instead of allowing them to focus on creating the next breakthrough app.

Mike Garland, Product Lead at Alchemy, described the current situation as a frustrating process full of complicated investigations and tribal knowledge. He explained that when it comes to debugging on Ethereum, "whether its a nonce issue, Solidity bug, or otherwise these kinds of bad experiences with debugging can exclude great developers from adopting new technologies, so were hoping to help fix them with Alchemy Build."

Since the Alchemy team estimates that 70% of the top blockchain apps are using their developer tools, this could represent a major step forward in both quality and time-to-market for application developers.

The Build suite of tools is claimed to require no code, no configuration and it works out of the box according to an Alchemy spokesperson.

The tools include Explorer, which identifies bugs and optimization opportunities through searching through historical requests; Mempool Visualizer, which allows the developer to see the status of live transaction on-chain; Composer, for prototyping and modeling; and Debug Toolkit, which includes a real-time query visualizer.

At ShapeShift, Head of Research and Development Kent Barton noted that 'As we roll out Microtick, a new product on our own blockchain, it's crucial that our attention is focused on the right areas. Alchemy Build helps us maintain that focus, thanks to extensive tooling that takes the hassle and guesswork out of crafting Web3 infrastructure.

Sid Sethi, Founding Engineer at Audius, said that Alchemy Build has been instrumental in letting us scale to 200,000+ listeners every month. Their suite of development tools has saved us countless sleepless nights of debugging and firefighting over the past year.

Alchemys blockchain developer platform is currently employed by a wide variety of crypto-native applications, including Binance Wallet, CryptoKitties, OpenSea, Gods Unchained, and the Opera browser; and DeFi players such as Maker, Kyber and 0x. Its team has been sourced from tech-industry Goliaths such as Facebook, Google, and Microsoft, as well as academia including MIT and Stanford.

Originally posted here:

Alchemy Aims to Transform Blockchain Development with New Build Tools - Cointelegraph

Blockchain and Interoperability: key to mass adoption – Finextra

Blockchains potential for improving business processes, providing transactional transparency and security in the value chain, and reducing operational costs is obvious for many. Notwithstanding this the expected mass adoption failed to happen up till now. What has been holding blockchain?

In fact, there have been several concerns in recent years preventing this mass adoption. But by far the most widely recognised problematic issue is that of interoperability. Or, more accurately, the lack of it.

In this blog I will not go into the details of the various tools that can be used to enable interoperability. There are many reports that give in-depth description. I will look at recent developments in the interoperability area, the various offerings and real word interoperability use cases that should give an idea of what we may expect.

Siloed blockchain ecosystems

While blockchain was conceived as a decentralized technology, individual blockchain networks are not inherently open and are not able to communicate properly to each other. There are a large number of blockchain projects, all of which have different characteristics such as the type of transactions, hashing algorithms, or consensus models and which focused on a particular area.

The problem is further deepened by different networks and financial institutions running completely different governance rules, blockchain technology versions and regulatory controls. This has resulted in a series of unconnected blockchain ecosystems operating alongside, but siloed from each other, preventing the industry from reaching its full potential.

We would be left with a scattered collection of siloed blockchains, each supported by a weak network of nodes and susceptible to attack, manipulation, and centralisation. ConsenSys research paper

What is interoperability?

The term blockchain interoperability is increasingly being talked for some time now. It not only means the possibility that disparate blockchain systems can communicate with each other. Above all it is the ability to share, see, and access information across different blockchain networks without the need for an intermediary like a centralised exchange.

So, blockchain projects that want to implement interoperability into their platform aim to create an ecosystem that will enable different blockchains to easily communicate with each other. The vision of interoperable enterprise blockchains thereby rests on a number of functionalities and abilities including: integration with existing systems, initiate transactions on other networks, conduct transactions with other chains, transactbetween deployments on the same chain by integrating apps and making it easy toswitch one underlying platform for another.

Why is interoperability critical?

It is easy to see why interoperability for blockchain is not only desirable, but above all critical, in a world where enterprises depend on ever-greater levels of collaboration and interaction. In fact, interoperability is crucial in any software system it simply wont work to its full potential if it cant work with other software.

It is the only way to realise the full promise of enterprise blockchain and get the most out of their blockchain investments. Interoperability would enable smooth information sharing, easier execution of smart contracts, a more user-friendly experience, the opportunity to develop partnerships, and the sharing of solutions.

Where is interoperability needed?

Especially in areas where the value chain is important, such as supply chain, trade finance, healthcare, aviation, etc., one blockchain network will simply be unable to provide all the needs for any given transaction. This asks for multiple networks, each providing specific value, and proper communication so that data from private networks can be routed to other relevant networks for transactions without having to establish a one-to-one integration.

Everyone is dependent on physical goods ability to move across all participants in the global supply chain with minimal friction. We need the same ability to move a digital asset from one blockchain to another without creating redundant data or a new market for intermediaries. This is why blockchain interoperability is critical.Rasmus Winther Mlbjerg, Director, Deloitte, Denmark.

Blockchains characteristics allow disconnected supply chain management systems to interoperate securely without too high investment costs. Because of the pressing need for supply chain transformation, leveraging these characteristics ensures that blockchain can be useful and effective in the real world.

Interoperability Studies: WEF Report

In the meantime a number of interesting papers covering the interoperability issue have been. The most ground-breaking one is that of the World Economic Forum (WEF). The WEF described blockchain technology as being balkanised in silos.

In collaboration with Deloitte, the WEF this year released a report on Inclusive Deployment of Blockchain for Supply Chains A Framework for Blockchain Interoperability. The report covers several models, concepts, approaches and best practices for blockchain interoperability. It should help organizations understand the importance of interoperable blockchains and outlines a decision framework to support their development and execution.

Interoperability and compatibility issues are key to address in a world after the coronavirus pandemic.The challenge of interoperability is not only a technology problem, but even more so a problem in terms of governance, data ownerships and commercial business models.Nadia Hewett, Blockchain and Digital Currency Project Lead at the World Economic Forum

Blockchain interoperability approaches

Broadly one could distinct two main blockchain interoperability approaches: APIs and network-of networks model.

Mashup APIsBlockchain networks and solutions could be brought together for an organization via a so called mashup application. They only have to interact with one consistent application programming interface (API) and not an API for every network. This mashup application can include a variety of capabilities defined in data models and smart contracts, but fundamentally, it will serve as the glue that joins various networks together. However, APIs do not presuppose a governance structure, which makes them flexible and expedient but also a poor choice for organizing interoperability in the long run.

Network of networks modelThe most efficient and scalable way to build interoperability is through the joint effort of establishing industry standards as well as identifying a network of networks structure that industry networks can converge around.

An organizations blockchain network actually represents a web of interconnected networks. This architecture would allow an organization to connect and transact with multiple solutions, not restrained to a single network, and open up a market of interoperability across solutions.

By unlocking the power of the peer, organizations can use their peer to connect into multiple blockchain networks via channels. This significantly reduces the complexity and optimizes an organizations interaction with different blockchain networks. This network of networks model for interoperability continues to gain momentum, especially as we see natural blockchain hubs emerge.

Blockchain interoperability solutions

The majority of interoperability solutions up till recently were mainly focused on chain interoperability across public blockchains, thereby using crypto-directed tools like sidechains (or relay chain), notary schemes and timed hash-locks. The focus however has increasingly shifted towards solutions for interoperability between private networks and/or between private networks and public blockchains.

One way to solve interoperability is to use a separate blockchain as a bridge to facilitate cross-communication. Essentially, this is a third blockchain that sits in the middle of the two blockchains and maintains a cryptographically secured timestamped ledger of the transactional and messaging activity between the two. Interoperability tools that are used range from hub and spoke, decentralised finance (DeFi) and general purpose bridges.

Another way to facilitate interoperability between systems is with off-chain or middleware systems. This so-called non-blockchain interoperability approach uses tools including atomic swaps, oracles and state channels.

Blockchain Interoperability projects

A growing number of interoperability projects have entered the scene to try to bridge the gap between the various blockchains. Their aim is to facilitate interaction between networks and ensure the concept of decentralisation is fully realised. Depended on the interoperability solutions these can be used for activities like decentralised asset exchange and decentralised message exchange. Interesting projects are Chainlink, Cosmos, Hybrix, Polkadot and Wanchain. Other examples include Aion, Ark, ICON, Transledger, and Overledger.

ChainlinkChainlink is a decentralised oracle network, an interoperability solution to facilitate secure and trustless communication between all disparate blockchain systems. The resources mostly revolve around off-chain data to trigger smart contracts and settlement outputs like established payment systems and cloud backend. This standalone function is important for many blockchains that dont have to interact with other blockchain protocols but do need access to externals inputs and outputs.

Chainlink nodes are able to format messaging and data from public APIs into a readable format for smart contracts. These nodes can connect to any API, whether it is a blockchain, enterprise system, Web API, or IoT device.

Chainlink is sometimes working in combination with other interoperability protocols. Chainlink has already announced partnerships with Polkadot and Ethereum to provide off-chain data to their networks. Wanchain is integrating with Chainlink to provide off-chain data to their on-chain smart contracts.

CosmosOne of the most prominent interoperability solutions is Cosmos, very much focused on its Cosmos SDK platform. Cosmos aims to act as an ecosystem of blockchains that can scale and interoperate with each other. Cosmos is a smart contract platform that has prioritized interoperability as a critical component of their blockchain design. Their architecture is based on the so-called hub-and-spoke system whereby a series of spoke chains connect to a central hub by means of inter-blockchain communication.

Cosmos is heavily reliant on validators to provide interoperability. It makes use of the socalled Byzantine fault tolerant (BFT) consensus algorithm and uses both member chains and Peg-Zones for existing chains to improve the overall ecosystem. Their end goal is to create an internet of blockchains a network of blockchains that can communicate with one another in a decentralised way.

The implementation of the IBC (Inter Blockchain Communication) protocol is scheduled for this year 2020. Cosmos will use the IBC protocol to allow communication between a central hub and the chains linked to the network, also called Zones. It will first only concern the interoperability of chains built on top of Cosmos SDK platform.

HybrixHybrix is an open-source cross-chain solution aimed to make it easier to make cross-chain transactions, and also increase the level of ease for developers who want to offer multi-chain platforms. For that purpose Hybrix is developing an HY token. Each token represents an identical block of a chain and can be used to reconcile data across the entire crypto complex. Tokens form as bridges that allow transactions to be conducted on either a single chain or multi-ledger systems. Since Hybrix utilizes existing languages to build its protocol and interface, theres no need to acquire new coding languages to use its system. Hybrix has amplified its capacity to adapt 27 major blockchains and more than 400 tokens.

PolkadotAnother project is Polkadot, which facilitates transactions and data exchange, aiming to promote interoperability between blockchains. It uses the DPoS algorithm and employs required validators which can lead to a certain degree of centralization .

The concept at Polkadot is quite similar to that of Cosmos. It allows communication between the relay chain and the parachains of Polkadots network. By using Parachains and Bridgechains, this approach enables to transfer both value and data. Additionally, scalability will be taken to a whole new level by running multiple parallel chains. This is a bit different from other projects which are looking to bridge the gap between blockchains as well.

The launch of their mainnet is planned for this year (2020). As for interoperability, there are no precise timelines regarding their protocols for chains implementation.

WanchainThe Wanchain network allows interoperability between very heterogeneous blockchains like Bitcoin, Ethereum and EOS. Wanchain aims to link and facilitate communication between the different blockchains as much as possible.

Wanchain is already functional and allows communication and exchange of value and data between public and private blockchains through storeman nodes and the T-Bridge framework. The storeman node system combines two cryptographic concepts that ensure security and confidentiality of network transactions: secure multi-party computation and Shamirs secret sharing.

The Wanchain project recently announced the integration of EOS blockchain and the implementation of the T-bridge framework. Wanchain s next challenge is to fully decentralise its network. This is planned to be finalised in 2022.

Other interoperability offerings

And there are many more interoperability projects including Aion, which is working towards integrating artificial intelligence in its consensus model. Or Ark which uses Smartbridge to link existing chains, and will also allow for the transfer of both data and value. And the Loom Network, which uses its DPoS blockchain Basechain to connect and transfer value among several blockchains, including Bitcoin, Ethereum, and Binance. A rather unknown but interesting player is Block Collider. Its proof-of-distance (PoD) consensus algorithm ensures that ledgers can operate with one another. It is also the only project that, in its current form, requires any validators.

Real world interoperability use cases

During 2020 we have seen a number of interesting real world interoperability use cases.

AVA Network (Defi Apps)The AVA network is an open-source platform for building and deploying decentralized finance (DeFi) apps and enterprise-grade blockchain solutions that can be run in one interoperable, highly scalable ecosystem.

AVA has officially released the codebase of its AVA blockchain platform to the global community. Interoperability between different DLT networks has thereby been built into the AVA protocol, using the Avalanch consensus protocol. The AVA platform has coupled this protocol with a network model that enables the system to span permissioned and permissionless networks, making AVA a self-serve platform for new blockchains and digital assets.

Instead of one network with thousands of tokens, the AVA ecosystem is one platform with thousands of subnetworks and tokens on each subnetwork .AVAs infrastructure allows anyone to build their own private, public, permissioned or permissionless blockchain networks or subnetwork, so-called subnets.

Kava Labs and IRISnet (decentralised finance)Another real world example is Kava Labs that has teamed up with IRISnet in order to provide a technology foundation for facilitating the development of distributed business applications. Kava is a Cosmos SDK (software development kit) blockchain. The collaboration will involve the whole interchain ecosystem that has been developed by blockchain interoperability solution provider Cosmos.

Aim is to further support and promote decentralized finance (DeFi) application development on each others respective blockchain or distributed ledger technology (DLT) networks. Kavas Interblockchain Communication Protocol (ICP) will be used by both development teams to expand the nascent DeFi ecosystem. IRISnet aims to offer iService and Coinswap applications to Kava in order to improve liquidity.

Cosmos value proposition is that if you make a blockchain and it has a similar consensus mechanism to another blockchain [then by using] the inter-blockchain communication protocol (IBC), you should be able to connect those two blockchains and transfer data [or assets] between them. Brian Kerr, CEO at Kava Labs

Quant Overledger and Oracle Cloud (banking lifecycle)Quant Network, a technology provider, delivering blockchain enterprise-grade interoperability for the secure exchange of information and digital assets across any network, platform or protocol, at scale, has partnered with Oracle.

Quant will use Oracle Cloud to run mission critical business applications on interoperable DLTs that will be powered by Overledger, which connects global networks to blockchain-based platforms. Banking institutions may deploy an extensive set of APIs that aim to cover all areas across the banking lifecycle.

Quant helps Oracles customer banks by providing a single API to all supported blockchains to power interoperability across platforms. Giving clients choice and flexibility to freely use any blockchain technology and go cross-platform with only three lines of code. Clients gain benefits of market access, new products and revenue streams without the challenges of managing complex underlying blockchain technology stacks.Gilbert Verdian, CEO at Quant Network

SIA and Quant Overledger (financial services)Banking users of SIA's private blockchain infrastructure, SIAchain, will be able to link up with other distributed ledgers following successful testing of interoperability via Quant Network's Overledger technology. Quants Overledgercomplements and connects existing systems and DLTs, to drive innovative and efficient growth for companies, public entities, and regulatory bodies alike.

This integration provides the ability to bridge permissioned blockchain instances between SIAchain's 580 European network nodes and other external networks in order to have crossplatform applications and services covering the likes of notarisation, payments and KYC.

SIA, that provides its services in 50 countries, is European leader in the design, creation and management of technology infrastructures and services for Financial Institutions, Central Banks, Corporates and the Public Sector, in the areas of Card & Merchant Solutions, Digital Payment Solutions and Capital Market & Network Solutions.

The achievement of a fully interoperable blockchain network, through our collaboration with Quant Network, is another key-element in our path of bringing innovation and state-of-the-art technologies for supporting banks, financial institutions, corporates and public administration bodies to extend their capabilities in integrating different DLT business applications."Daniele Savar, innovation & business solutions director SIATelos and Transledger (crypto currency transfers)Transledger, a blockchain interoperability platform that aims to facilitate cryptocurrency transfer between separate or independent DLT networks, has chosen the Telos blockchain network to perform cross-chain digital asset transactions with its utility token in a fast and secure manner. Transledger Inter-blockchain Communication (IBC), allows different blockchains to interact with each other and perform tasks together.

Use cases for blockchain interoperability solutions include peer-to-peer (P2P) networks such as decentralized or non-custodial cryptocurrency exchanges (DEXes). These types of trading platforms allow digital asset users to trade their tokens without requiring centralized, third-party exchange platforms.

DEXes may use Transledger IBC to run P2P networks across several different blockchain platforms. This allows trading on DEXes to take place at speeds that are comparable to centralized exchanges, however, these non-custodial platforms allow users retain control of their funds. They also allow investors to manage their cryptocurrency portfolios with faster and more powerful smart contract functionality and features.

Skuchain and Corda (trade finance)Skuchain network, a blockchain platform for supply chain, recently launched the DLPC CorDapp, a Skuchain application that promotes interoperability in trade finance blockchain applications. This application is the first example of The Bankers Association for Trade and Finances Distributed Ledger Payment Commitment (DLPC) operating in a real network. A DLPC is a fundamental piece of trade transaction. Everyone needs to commit to a payment.

Skuchains DLPC CorDapp allows transactions to take place between its enterprises on Hyperledger Fabric and their bank partners on the Corda Network. The ultimate goal of brokering interoperability between Skuchain EC3 and Corda is to allow Skuchains enterprise customers to receive trade finance from banks on a Corda implementation without any party having to onboard onto another platform. Enterprises can now easily access trade finance as native part of their own supply chain platform.

Moving forward

The arrival of interoperability solutions may fundamentally change present attitudes towards blockchain and will be an important step in persuading networks that the seamless exchange of data is crucial to the success of the entire market.

As more progress towards interoperability between blockchain protocols is expected in the coming years, and we already may see successful cross-blockchain projects this year, interoperability is likely to become an important game changer for the blockchain industry.

We may say that Blockchain seems to be at the threshold of widespread acceptance and adoption.

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Blockchain and Interoperability: key to mass adoption - Finextra

3 Big Blockchain Companies Teamed Up on a DeFi Product That Pays Passive Income – Cointelegraph

In a special announcement made at the Unitize conference on July 6,Cosmos, Polkadot, and Terra revealed a new DeFi savings product called Anchor that aims to offer dependable interest rates on stablecoins deposits.

The companies involved in the creation of Anchor plan to launch it across their respective blockchains at the end of Q3 this year and scale across to other PoS blockchains in the future.

Do Kwon, founder and CEO of Terra, explained in a prepared statement:

While DeFi staples such as Maker and Compound have been revolutionary in creating fully decentralized crypto money markets, the volatility of their interest rates makes them unsuitable to be used as a household savings product. DeFi mass adoption needs the creation of a fully decentralized savings account that offers dependable APR.

Anchors smart contracts receive stablecoin deposits and use a portion of them to acquire staking positions on compatible Proof of Stake blockchains. Users will receive their passive income from these staking rewards.

The initial governance for this platform will come from the Interchain Asset Association (IAA), a newly formed organization that sees Zaki Manian of Cosmos, Jack Platts of the Web3 Foundation, and Do Kwon of Terraform Labs collectively steering the ship.

On June 26, Cointelegraph reported about a partnership between the Gitcoin project and Polkadot that will help the interoperable blockchain platforms developers find community support and funding. The Kava decentralized finance (DeFi) protocol also recently launched on the Cosmos (ATOM) network, with collateral support for Binance Coin (BNB).

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3 Big Blockchain Companies Teamed Up on a DeFi Product That Pays Passive Income - Cointelegraph

Blockchain Could Be The Key To Making Environmental Reporting More Meaningful – Forbes

Environmental, social, and governance (ESG) reporting initiatives continue to accelerate, with billions of dollars of investments announced on an ongoing basis.

That said, ESG reporting is not without its challenges; blockchain has the potential to help tackle several headwinds keeping ESG from having the impact it otherwise should.

NurPhoto via Getty Images

A common example of the issues with ESG reporting are the arguments that carbon emissions reporting creates- even attempting to establish frameworks and guidelines around this issue is often met with fierce debate and pushback.

At first glance the convergence of blockchain with (ESG) reporting might seem to be contradictory or unusual, but that is only a partial view of how these two trends are related.

Digitization and automation are not new trends, but blockchain is perhaps the highest profile manifestation of these trends in the last decade or so. Sustainability reporting, and a focus on corporate governance are also not new or emerging trends, as organizations across industry lines have been reporting various types of non-financial data for decades. In other words, both broader trends have been steadily if slowly making inroads into organizational management and the reporting landscape.

The difference is that now, however, both broader trends have moved into much sharper focus. Blockchain has rapidly transformed, even as the cryptoasset price market continues to trundle along at lower levels, into a financial reporting and attestation tool discussed at the highest levels of markets. At the same time, the importance of ESG has never been more pronounced.

Economic and societal inequality, concerns about human rights abuses the world over, and the need for effective governance frameworks to address these issues, have created a near perfect environment for blockchain to enter the conversation.

Lets take a look at a few of the specific issues and pain points related to ESG reporting that continued blockchain integration can assist in solving.

Supply chain traceability. Improving the traceability of supply chains is old news in terms of goods, but supply chains are much bigger than that. Data is often mentioned as the lifeblood of organizations in the present and the future, and understanding where that data is being processed, stored, and analyzed is a critically important issue. Whether it is the possibility of hacks and data breaches, potential abuses and misuse of this information, or the pilfering of intellectual property, the issues are nearly endless. In addition to helping reduce the risk of conflict minerals and human rights abuses, securing the information that drives business decision making, at all levels, is an area in which blockchain can deliver quantifiable value.

The fact that the U.S. Air Force has provided funding to several firms to build out a multi-use blockchain for supply chains is a prime example of how organizations (public and private sector) are already taking advantage of this opportunity.

Standardized ESG reporting. One of the largest issues with ESG reporting is the simple fact that there are no globally enforced reporting and compliance standards for ESG and other sustainability information. For financial reporting, and fully acknowledging the inconsistencies and issues with those standards, there at least are standards in the form of Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). Increasing the transparency and consistency, via blockchain reporting frameworks and standards, will lead to the increased usefulness of this information.

A recent report by the Governmental Accountability Office (GAO) in July 2020 emphasized the fact that ESG disclosures and reporting are not always clear or helpful for decision making. If reported information is not useful for decision making, the question must be asked, what purpose does it serve in its current state?

Smart city development. Much has been written about smart cities, sustainable infrastructure, and the importance of ensuring that as development occurs, it occurs equitably. Increased digitization and interconnectedness of infrastructure will be an inevitable part of the 21st century global economy, and ensuring that these developments create opportunities for every segment of society is arguably more important than the developments themselves. In order for the developments, and associated benefits, to occur as promised there needs to be confidence in both the technology and insights generated from these technologies.

The Organisation for Economic Co-operation and Development (OECD)published a recent report, outlining specific areas in which continued blockchain integration with sustainable infrastructure can be beneficial. This include, but are not limited to, decentralizing the financing of infrastructure, emissions certification, and making better use of existing infrastructure assets.

Blockchain is a fast growing space - most commonly associated with crypto - but the potential for this technology far eclipses the cryptoasset space. Alongside the growing expectation for more varied and continuous information, blockchain has the opportunity to assist ESG reporting become more consistent, standardized, and effective.

Technology and sustainability do not always go hand-in-hand, but the simultaneous rise of blockchain and demand for ESG has the opportunity to change that for the better.

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Blockchain Could Be The Key To Making Environmental Reporting More Meaningful - Forbes

Medici Ventures Congratulates SettleMint for its Recognition as a Top Start-up in Low-code Platforms by the Everest Group – GlobeNewswire

SALT LAKE CITY, July 10, 2020 (GLOBE NEWSWIRE) -- Medici Ventures, the wholly owned blockchain subsidiary of Overstock.com, Inc. (NASDAQ:OSTK), congratulates its blockchain-based company SettleMint for its recognition by the Everest Group in its report on the Top 14 Start-ups in Low-code Platforms.

SettleMint was recognized for its low-code applications that accelerate development of blockchain projects while containing cost. SettleMints Blockchain Platform as a Service provides advantages to businesses, developers, and IT leaders, including speed to project launch, transparency, efficiency, and resilience through its use of decentralized technology.

In the wake of the COVID-19 pandemic, where the fragility of centralized systems has been exposed, digital transformation is crucial to business survival. Use cases such as immunity passports, crowd control applications, and more efficient distribution of relief funds have materialized as a response to the pandemic. SettleMints use of low-code blockchain applications for these use cases enable businesses, governments, and other organizations to bridge the gap to a post-COVID-19 world.

Medici Ventures is pleased to see the Everest Group recognize the important work SettleMint is doing, said Jonathan Johnson, CEO of Overstock and president of Medici Ventures. SettleMints scalable low-code solution makes blockchain use case development and integration highly accessible to organizations and developers, which accelerates the much-needed digital overhaul of outdated centralized systems we currently rely on.

SettleMint is honored to receive the Everest Groups recognition, said SettleMint CEO, Matthew Van Niekerk. For large enterprises, trying and implementing new technologies can be challenging, but SettleMints solutions have enabled multiple enterprise players to pilot and implement decentralized ledger technology into their technology ecosystems with lower costs and greater efficiency.

Medici Ventures was founded in 2014 with a mission to change the world by accelerating the adoption of blockchain technology in order to fundamentally change the way in which we transact. Medici Ventures companies are introducing blockchain technology to industries including identity, land governance, money and banking, capital markets, supply chain, and voting. Medici Ventures is also committed to increasing public awareness and understanding of the use cases for and corresponding value of blockchain technology through public engagement and policymaker outreach.

About Everest Group

Everest Group is a consulting and research firm focused on strategic IT, business services, engineering services, and sourcing. We are trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well-informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empowers clients to improve organizational efficiency, effectiveness, agility and responsiveness. What sets Everest Group apart is the integration of deep sourcing knowledge, problem-solving skills and original research. Details and in-depth content are available athttp://www.everestgrp.com.

About SettleMint

SettleMint is a leading Enterprise Blockchain and Distributed Ledger technology company helping organisations leverage the benefits of Blockchain technology whether to improve efficiency, to strengthen process resilience, to prove authenticity or to completely reinvent a business model with its Blockchain Platform as a Service solution. From network deployment to consortia forming to use case development to production deployment and integration with legacy systems. All this packaged in one integrated solution. SettleMint makes it easy to manage the complete blockchain application lifecycle.

About OverstockOverstock.com, IncCommon Shares (NASDAQ:OSTK) / Digital Voting Series A-1 Preferred Stock (Medici Ventures tZERO platform:OSTKO) / Series B Preferred (OTCQX:OSTBP)is an online retailer and technology company based inSalt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, dcor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by tens of millions of customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year foundedMedici Ventures, its wholly owned subsidiary dedicated to the development and acceleration of blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the Company and other related matters on theNewsroomandInvestor Relationspages on its website,Overstock.com.

O,Overstock.com, O.com, Club O, Main Street Revolution,and Worldstock are registered trademarksofOverstock.com, Inc.Other service marks, trademarks and trade names which may be referred to hereinare the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding Overstocks expectations regarding SettleMint. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 13, 2020, in our Form 10-Q for the quarter ended March 31, 2020, which was filed with the SEC on May 7, 2020, and in our subsequent filings with the SEC.

SOURCE:Overstock.com, Inc.

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Medici Ventures Congratulates SettleMint for its Recognition as a Top Start-up in Low-code Platforms by the Everest Group - GlobeNewswire

Blockchain Technology Market Research, Recent Trends and Growth Forecast 2025 – CueReport

The Blockchain Technology Market report upholds the future market predictions related to Blockchain Technology market size, revenue, production, Consumption, gross margin and other substantial factors. It also examines the role of the prominent Blockchain Technology market players involved in the industry including their corporate overview. While emphasizing the key driving factors for Blockchain Technology market, the report also offers a full study of the future trends and developments of the market.

Adoption of blockchain is not limited to the financial sector, however it is being implemented across different verticals. For example, with blockchain's extended support for Internet of Things (IoT), the technology and telecom vertical is implementing blockchain for initiating a better coordination between different devices. This sector is also benefitting from blockchain because of its feature to eliminate the processing fees which gets levied by third parties. Healthcare vertical is also focusing on blockchain for securing its important and sensitive data and documents and for securing its digital assets.

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According to a new study the global blockchain technology market is anticipated to reach USD 16.82 billion by 2026. Also termed as Distributed Ledger Technology (DLT), blockchain enables secure transaction over a distributed network. Since the transactions are taken place usually over the network, it is difficult to reverse the transaction history. Blockchain also eliminates the need of third-party verifications since the ledgers are shared by all the parties over the distributed network. These are some of the major factors for adoption of blockchain technology.

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Global Blockchain Technology Market: Drivers and Restraints: This section of the Blockchain Technology Market Analysis report we are covering various drivers and restraints that have affected the global Blockchain Technology market. The complete study of plentiful drivers of the market enables market professionals to get a clear viewpoint of the Blockchain Technology market share, which consists of Blockchain Technology industry environment, advancement market, product innovations, latest developments, and Blockchain Technology market risks.

Blockchain technology is currently being adopted majorly by the financial institutions due to its benefits such as reduced infrastructural costs for reconciling statements, data management settlements etc. It has also been proven beneficial to increase the transactional speed by eliminating the need of trusted third party. Bitcoin uses cryptography for securing its ledgers, thus ensures high security platform for the transactions.

The adoption of blockchain can be clearly seen in the North America followed by Europe at a fast pace. However, the market for blockchain is gaining traction in Asia Pacific region owing to the developing economies such as India and China adopting this technology. Countries such as Australia have already adopted this technology and are developing a private blockchain for its stock exchange's clearing and settlement process.

Key Findings from the study suggest the largest share of this market in 2017 was of North America, as there are a fundamentally high number of ventures adopting the blockchain technology. The technology will have the capacity to help IoT applications in technology and telecom sector along with the enhanced payment solutions. The healthcare segment will adopt this this technology owing to secure their sensitive information. Asia Pacific market is anticipated to grow at a faster pace because of its changing financial framework which drives the demand for secure and low-cost online payment transfers. Speculations have been that more companies would invest in this technology, thus tapping the huge potential in this market. Companies such as Chain Inc., Ripple, Eric Industries, Microsoft, Circle Internet Financial Limited, R3, Samsung, Deloitte, IBM, Deloitte, Linux Foundation, BTL Group, are some of the prominent players in this market.

Some of the Highlights about Table of Content of Blockchain Technology Market

1 Blockchain Technology Market overview

2 Executive Summary

3 Market Drivers, Challenges and Trends

4 Marketing, Distributors and Customer

5 Key Players Analysis

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Blockchain Technology Market Research, Recent Trends and Growth Forecast 2025 - CueReport

No, Blockchain Technology Cannot Solve Everything – Cointelegraph

The crypto community was rightly aghast at the Bitcoin Will Save Us poster donned by a protester against racial injustice in Dallas last week.

It was a tasteless and inappropriate albeit well-meaning attempt to impose a crypto narrative onto a decidedly non-crypto, and much larger, story.

The United States protests against racial discrimination that erupted after George Floyds tragic killing at the hands of police have also garnered broad support from the crypto community, both on Twitter and likely also on the streets.

And so it should. The industry that has grown up around cryptocurrency has roots in anti-establishment politics, civil liberties and economic justice. It is also a diverse ecosystem of actors: developers, scientists, academics, businesspeople and journalists from around the globe. Crypto has the potential to be a truly multiracial, diverse and multidisciplinary endeavor.

But more importantly, many crypto leaders have expressed support for the ideals behind the Black Lives Matter movement because oppression of, and violence toward, one group among us is, or should be, an affront to us all. It echoes the famous words that Martin Niemoeller penned after the Holocaust: "First they came for the Communists and I did not speak out...

Blockchain technology brings a great deal of promise for the marginalized, the un- and underbanked, and those who have suffered at the hands of institutionalized discrimination, especially in the finance sector.

But just as now is not the time to declare Bitcoin the savior to the situation in which we find ourselves, it is also not the time to claim that blockchain technology is a panacea to all of societys ills.

Blockchain technology has a range of use cases. Some of those are already being implemented. Others are still not fully developed. From financial technology to supply chains, provenance, elections and identity management, distributed ledger technology is a truly disruptive innovation that can drive efficiencies in a number of areas of our lives.

But it cannot reverse centuries of social injustice, it cannot change human attitudes and it cannot resolve all conflicts. It can help humanity do many of these things. But the will to draft change must be of human origin.

Not only is it not the time to proclaim blockchain as the solution to the systemic racism that led to protests and riots in the U.S., but it is also not the time to be trying to squeeze a blockchain narrative into an issue that goes to the heart of humanity itself.

Imposing blockchain-based solutions, for example, on the records of violent incidents that ex-Minneapolis police officer Derek Chauvin had been involved in during his career would not have prevented him from killing Floyd. Chauvins history was well established and well documented.

The blockchain movement has yet to fully mature. No doubt it will be at our side as we struggle to right past wrongs and recreate a more just and equitable, and hopefully less violent, world.

As we progress toward the future that blockchain technology can help us create, open finance and sovereignty over our own identities will generate benefits for those whom legacy systems and institutions have failed.

But while blockchain may be a much-needed change agent, the real drivers of change will be society itself. Policymakers may be forced to reckon with the consequences that the immutability properties of a distributed ledger will bring to bear. But they will not listen to a decentralized ledger. They will only listen to their human constituents.

Blockchain can record incidents of police brutality. It cannot prevent them.

Blockchain can record your vote. It cannot vote for you.

And the Floyd family deserves more than a software is eating the world response to the horrendous killing that sparked the protests. After all, we are all oracles of the annals of humankind.

All of us in the blockchain community are proponents of the potential for DLT to solve many problems our economies and societies face. But blockchain cannot solve everything. It certainly cannot save us from ourselves.

Only we can do that.

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Paul de Havilland is a fan of disruptive technology and an active investor in startups. He has experience covering both traditional and emerging asset classes and also pens columns on politics and the development sector. His passions include violin and opera.

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No, Blockchain Technology Cannot Solve Everything - Cointelegraph


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