India is the latest country to jump on the blockchain bandwagon, with a national strategy for blockchain announced yesterday. The Ministry of Electronics and Information Technology (MeitY) plans to scale up and widely deploy the technology, describing it as one of the important research areas.

But, on the same lines as China, it appears to be holding onto the blockchain, not Bitcoin mantra. According to Sharan Nair, chief business officer at India-based crypto exchange CoinSwitch, its specifically focusing on private blockchains.

The government in India and most countries often tend to view Blockchain and Cryptocurrencies as two different entirely separable entities, Nair told Decrypt. It is worth mentioning that the governments use of the word blockchain is not a representation of public blockchain as most people think.

And yet, he argued that it will have a knock on effect, leading to more cryptocurrency awareness and use over time.

With this new advancement, I feel the government may soon get a glimpse of public blockchains and how cryptocurrencies play a critical role, Nair said.

Sandeep Nailwal, co-founder of Matic Network, too, drew confidence from the announcement. I think that its already in-line with [the government of Indias] bullishness on blockchains. We believe that its the first step towards eventual full adoption of blockchains in their utmost essence. So for us, its a good sign, he said.

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However, while the new focus is on private blockchains, it might have a side benefit of clearing up regulations for public blockchain, making it easier for crypto businesses to operate.

What the ecosystem needs is clarity on use of cryptocurrencies in public blockchains, said Aravindh Kumar, co-founder at Newfang, a decentralized cloud storage platform for developers, before adding, A regulatory sandbox until then would be a progressive step.

More here:

Indias blockchain drive: What the experts are saying - Decrypt

The Afghan Ministry of Public Health has signed a Memorandum of Understanding (MoU) with blockchain firm FantomOperations to integrate blockchain technology into the countrys healthcare sector.

As Afghan Voice Agency reported on Nov. 27, the terms of the MoU would apply blockchain to identify counterfeit medicines, create medical registries in hospitals and digitize patients files. Commenting on the initiative, Afghan Public Health Minister Ferozuddin Feroz said:

"The Ministry of Public Health is committed for the institutionalization of electronic government in the health sector and the blockchain technology would help the ministry bring transparency, acceleration and effectiveness in the related affairs."

Both the government and the public have expressed concerns about the volume of counterfeit pharmaceuticals in the country, with many citizens using traditional medicine for health problems due to their inexpensiveness and accessibility, according to an April report from the European Asylum Support Office.

The Medicine Importers Union stated that at least 40% of medicine and medical equipment enter the Afghan market illegally and many of the pharmaceutical products are low quality, the report read.

This summer, the United Nations revealed that it began working on blockchain solutions for sustainable urban development in Afghanistan. The organization is developing blockchain solutions for land records and services transparency as part of the UNs City for All initiative.

The UN initiative anticipates Afghanistans population becoming mostly urban within the next 15 years. Its three stated priorities are effective land management, strategic urban planning, and improved municipal finance.

In April, Afghanistans central bank governor Khalil Sediq said that the institution was considering issuing a sovereign crypto bond to raise $5.8 billion. Alongside Bitcoin (BTC), Sediq reportedly mentioned metal futures and pointed out that the countrys mineral reserves are estimated to be worth over $3 trillion.

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Afghan Government to Apply Blockchain in Countrys Healthcare Sector - Cointelegraph

Source: iStock/wavemovies

Thirteen crypto and/or blockchain-related companies are on the list of the best and the most promising financial technology (finthech) companies in 2019.

A fintech venture capital (VC) firm H2 Ventures and big four accounting firm KPMG published their Fintech100 annual report recently, which examines the fintech space globally to form a Top 50 and an Emerging 50 lists. They searched for the companies that are taking advantage of technology and driving disruption within the financial services industry, choosing the best based on a number of different data, as well as the core five factors:

The report found that, overall, fewer payments and lending companies made the Fintech100, their place being taken by wealth, insurance and multi-sector companies. Theres also a significant increase in venture capital backing of fintech companies, with the listed companies raising over USD 18 billion of capital in the past 12 months and over USD 70 billion in venture capital, a 35% increase from last years figure. In terms of geography, the most companies this year are Asia Pacific-based, with 8 out of the 11 companies that have raised over USD 1 billion in the past 3 years coming from the Asia Pacific serving customers in China, India, as well as rapidly emerging markets in South East Asia such as Indonesia, Vietnam and Thailand, the report says, adding: The smart money is rapidly flowing to fintechs focused on this region.

Importantly for the Cryptoworld: the report highlights 13 crypto / blockchain related companies;

Lets check out the crypto-related companies included in the Fintech 100 for 2019 and how the report describes them (or rather, praises them).

Rank: 3 in 2019, 2 in 2018Based in: ChinaKey people: Shengqiang Chen, CEONotable investors: CICC, BOCGI, China Securities, CITIC Capital, Sequoia Capital China, China Harvest Investments, China Taiping Insurance

Originally part of JD.com, a major Chinese e-commerce company, JD Digits (formerly JD Finance) became an independently operated technology company in 2013, dedicated to connecting financial and physical industries with digital technology. With its cutting-edge technologies and expertise in big data, AI (artificial intelligence), IoT (Internet of Things) and blockchain, the company builds core digital risk management capability, user operation capability, industry know-how capability and corporate service capability based on the B2B2C model.

Rank: 14 in 2019, 8 in 2018Based in: United StatesKey people: Baiju Bhatt, Co-Founder; Vladimir Tenev, Co-Founder; Nate Rodland, COONotable investors: DST Global, Sequoia Capital, Iconiq Capital, Index Ventures, Tim Draper, Andreessen Horowitz, Snoop Dogg

Founded in 2013, Robinhood is a zero fee stock trading app that offers ETFs (exchange-traded funds), options and cryptocurrency trading, while enabling users with a zero commission model to transact U.S. stocks and ETFs. Users can easily access the financial markets by slimming down the investment process and removing excessive brokerage costs.

Rank: 18 in 2019, 11 in 2018Based in: ChinaStaff: 5Key people: Ye Wangchun, Chairman & CEONotable investors: IDG Ventures, SBI Group

OneConnect Financial Technology, founded in 2015, has built four service platforms based on Big Data, Blockchain, Financial Cloud, Intelligent Finance and other new technologies, these being: Direct Bank Cloud, Financial Cloud for small and micro enterprises, Interbank Asset Transaction and Personal Credit Investigation. These are meant to provide solutions for small and medium-sized banks, increase revenue, reduce cost and risk and boost competitiveness. As of June 30, 2019, OneConnect had served over 600 banks and 80 insurance companies.

Rank: 26 in 2019, 13 in 2018Based in: United KingdomKey people: Nik Storonsky, CEO & Co-Founder; Vlad Yatsenko, CTO & Co-FounderNotable investors: Index Ventures, Ribbit Capital, Balderton Capital, DST Global

When it was launched in July 2015 by former Credit Suisse and Deutsche Bank investment bankers, Nik Storonsky and Vlad Yatsenko, as a digital alternative to the big banks, Revolut drew in customers by allowing them to spend and transfer money abroad with the interbank exchange rate. Since then, the company has since attracted over 6 million customers in Europe with its spending overviews, budgeting controls, savings features, donations, commission-free trading and cryptocurrency exchange.

Rank: 34 in 2019, 48 in 2018Based in: United StatesKey people: Brian Armstrong, CEO & Co-Founder; Fred Ehrsam, Co-FounderNotable investors: Y Combinator, FundersClub, SV Angel, Union Square Ventures, Digital Currency Group, Andreessen Horowitz, Union Square Ventures, Reinventure Group

Via its online platform launched in 2012, Coinbase enables digital currency transactions between traders, consumers and merchants, with a mission to create "a globally accessible, open financial system." By allowing individual Bitcoin (BTC) wallets and enabling connected bank accounts, it "ensures an improved buying and selling experience," and it also offers a range of payment processing options that can manage high traffic levels on the internet.

Rank: 38 in 2019, 29 in 2018Based in: JapanKey people: Mike Kayamori, Co-Founder & CEO; Mario Gomez-Lozada, Co-Founder, President & CTONotable investors: Jafco Asia, 8 Decimal Capital

Quoine, founded in 2014, provides trading, exchange, and next-generation financial services powered by blockchain technology, currently processing annual transactions worth over USD 50 billion. It was the first global cryptocurrency exchange to be officially licensed by the Japan Financial Service Authority, while its existing trading platforms, Qryptos and Quoinex, are among the most advanced in the world. By launching Liquid, a cryptocurrency one-stop trading portal, they allow users to access a worldwide network of cryptocurrency exchanges. Liquid allows users to match trades across multiple transactions and cryptocurrencies.

Rank: 42 in 2019, on the emerging list in 2018Based in: LithuaniaKey people: Vytautas Karaleviius, Co-Founder & CEONotable investors: Blockshine

Launched in 2017, Bankera is developing a bank to act as the bridge between the traditional world and the blockchain technology, and will offer three core services: payments, loans and deposits and investment solutions such as exchange-traded funds, crypto-funds as well as robo-advisory solutions for wealth management. Its goal is to become a blockchain-based bank, with its high-skilled team, innovative solutions and a strong foundation SpectroCoin, a cryptocurrency exchange and blockchain wallet.

Based in: MaltaKey people: Changpeng Zhao, Founder & CEONotable investors: Vertex Ventures, Plutus21, Black Hole Capital, Funcity Capital, Sequoia Capital, Limitless Crypto Investments

Binance is a cryptocurrency exchange platform that combines digital technology and finance. It provides access to exchange digital currency pairs on the market, while maintaining security and liquidity, and enabling a safe and efficient exchange with anyone, anytime and anywhere.

Based in: FranceKey people: Hamid Benyahia, Co-Founder; Mehdi Amari, Co-FounderNotable investors: /

Dether is the peer-to-peer Ethereum (ETH) network, which enables anyone in the world to buy and sell ETH using cash, and spend it at physical stores. Dether creates a worldwide ecosystem of ETH buyers, sellers and physical stores willing to trade ETH for fiat and accept it as a means of payment. No bank account is needed to buy/sell ETH, and no credit/debit card is needed to spend ETH at physical stores.

Based in: United Arab EmiratesKey people: ala Gl enkarde, CEO; Tolga Odolu, General Manager; Tuna Orbay, CTONotable investors: Boazii Ventures, Aslanoba Capital

MenaPay platform replaces cash and traditional banking tools used for transactions, with a goal of building one of the biggest cashless societies in the world and supporting digital transformation of the MENA (the Middle East and North Africa) region blockchain-based payment gateway. MenaPay platform offers a non-bank, top-up possibility and user-friendly mobile payment experience, digitalizing cash for the 80% of the unbanked adult population in the MENA region.

Based in: KoreaKey people: Ilseok Suh, Founder & CEONotable investors: BA Partners, Capstone Partners, Honest Ventures, Strong Ventures

To solve problems of the current global remittance market, Moin has developed a money transfer solution based on blockchain. Eliminating the need for SWIFT network or intermediary banks, Moin directly connects senders and receivers to make the wire process simpler, safer, faster, and more convenient with affordable rates.

Based in: SingaporeStaff: 2Key people: Andy Li, Founder & CEO; Bryan Sun, Co-Founder & CT; Villence Yu, Co-Founder & COONotable investors: Krungsri Finnovate, Sumitomo Corporation, SBI Investment, Arbor Ventures, Eight Roads Ventures, ZhenFund

With an aim to create new standards of banking platform that empowers banks or financial institutions to launch innovative financial products for the mass market, Silot taps on AI and blockchain to provide next generation efficiency, capability and security by connecting banks functionalities and data silos.

Based in: LuxembourgKey people: Luc Falempin, Co-Founder & CEO; Daniel Coheur Co-Founder & Chief Strategy Officer; Philippe Van Hecke, COONotable investors: Euronext

Tokeny Solutions enables mid-cap companies, investment banks, funds, asset managers and distributors to dematerialize assets on the blockchain, in order to reach a global audience, enforce compliance obligations, enable automation, and increase operational efficiency. The company delivers an institutional grade, modular end-to-end platform, allowing for the issuance, transfer and servicing management of tradable digital assets/security tokens. Tokeny Solutions has issued multiple tokenized offerings across five continents with more security offerings to come.

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Check out 13 Crypto/Blockchain-Related Companies from the Fintech100 - Cryptonews

Although blockchain technology is still evolving, it can already offer many advantages to the scientific community.

Blockchain is revolutionizing the world.

It is one of the biggest technology markets worldwide, with prospects tocontinue growing and eventually reaching 23.3 billion dollars worth ofinvestments by 2023, according to Statista.

In the future, the rapid growth in investments will encompass manydifferent industries, and blockchain will become a mainstream technology.

See also: How Blockchain Technology and Cognitive Computing Work Together

Currently, however, different industries are only at the early stage of introducing blockchain technology to different procedures and operations. According to Deloittes 2018 global blockchain survey, blockchain technology is expected to revolutionize many industries. It is anticipated that by using blockchain, industries will completely change the way they function.

According to Deloittes survey, manufacturing industries, as well as theenergy sector, along with healthcare, technology, and even the public sector (governmentalinstitutions, executive branch), will eventually turn to blockchain technologyto organize data, store it, and ensure its security.

But heres what caught our attention, while analyzing this survey.

Interestingly enough, life sciences (biotech, medical devices, andpharma) ranks high on the list of industries that will make use of blockchain.The technological advancement in life sciences greatly impacts the quality ofhealthcare, giving us new opportunities to improve it.

Lets take a step further.

Technological advancement in engineering and computer science will giveus new opportunities in manufacturing, the energy sector, and other relatedfields.

This pushes us to deduce the following thought: will science in general be changed by blockchain technology? And, if yes, what opportunities, prospects of implementation, and potential problems should we expect from it?

Lets dig deeper.

Blockchainfor Science: Revolutionary Opportunities

Blockchain technology is versatile. Therefore, the wholedata-hash-previous hash system works for every transaction involving value,whether its money, goods, or information. Besides, the high levels of securityensure fraud protection, as every transaction is recorded and distributed amongthe computer network.

As a result, these features of the blockchain technology offer thefollowing opportunities that can revolutionize science in different aspects.

Opportunity#1: Making Research Transparent

The science behind blockchain is simple.

A set of blocks that contain data is shared in one network of parties(nodes), which have equal and immutable access to the data carried by theblock.

Whats in it for scientific research?

Lets say a group of researchers is working on a statistical analysis ofa certain business venture. They collect data that is stored in blocks, thuscreating a data-carrying blockchain for this research.

Any changes that are made to this data will not go unnoticed, as everyresearcher from the team can equally spot and track these changes.

Joris van Rossum, Director of Special Projects at Digital Science, saysthat among the biggest benefits that blockchain can bring to scientificresearch is eliminatingpoor communication.

Right now, according to van Rossum, scientific research is at a verydeficient state. Blockchain gives an opportunity to change, as it ensuresreproducibility that is central for transparent scientific research.

Opportunity#2: Making Data Storage Safer

Blockchain is designed in a way that ensures safe storage of any datathat every block contains. Hashes, which work as a protection device for thedata, are hard to tamper, thus keeping all research data safely stored.

Essentially, blockchain is a decentralized database of information. Itis decentralized because every node has full access to the data and any changesthat have been made. This includes any changes made involving the hashes ofevery block, thus making it impossible to leak the information or corrupt it.

Blockchain technology also ensures an extra level of protection, as allthe data is broken into segments (shards), which are encrypted. Thus, anyclassified research data can be safely stored in blocks, accessed, and trackedby every node in the network.

Opportunity#3: Making Science Transparent

Blockchain technology brings an opportunity to make the decisions andthe activity of scientific organizations more transparent by introducingso-called smart contracts.

Distributedledger technology enables blockchain to store small computerprograms that track the data. Smart contracts are created in the form ofcomputer programs and are designed to cut the middleman in all datatransactions. Instead, this smart contract becomes the middle man, and all theactivity can be traced by the network of nodes.

The two main features that science and scientific research can benefitfrom are that smart contracts in their nature are:

Thisfeature of smart contracts wont allow any of the two parties to opt out of thecontract, change its terms, or terminate it. This means that every scientificorganization that was promised governmental funding will get it.

Smart contracts are almost impossible to tamper with. As all theactivities are fixated and stored in blocks, it not only gets safer to storethis data but makes the general activity of scientific organizations moretransparent and organized.

Blockchainfor Science: Prospects of Implementation

All the above-mentioned opportunities have already found theirimplementation in decentralized blockchain-based data storage.

Decentralized clouds started emerging recently, becoming a strongcompetitor and a potential threat to centralized servers such as Google Cloud,Dropbox, etc.

Decentralized cloud storage uses blockchain technology to:

Essentially, all the above-mentioned opportunities, brought to scienceand scientific research by blockchain, are already, in one way or another,implemented by decentralized clouds.

Besides obvious reasons, like transparency and security, scientists andresearchers could be interested in decentralized clouds for the following reasons:

Since blockchain technology is behind this idea, every file indecentralized cloud storage is marked with a hash, and every other filecontains a hash from a previous file. Thus, any scientific organization, oreven a small group of researchers, can be sure that every file is safely storedand wont go missing.

Blockchainfor Science: Potential Problems

Alongside with the above-mentioned advantages, the implementation ofblockchain technology can potentially cause problems. Aside from the fact thatscience is currently not fully ready for blockchainadoption, the technology itself is still underdeveloped, which may lead to thefollowing issues.

Problem#1: Authorization Issues

The goal of blockchain technology is to encrypt and safely store thedata and establish consensus in a distributed network.

To prove that a network member has permission to write to a certainchain, it is required to run complex algorithms that will ensure rightfulauthorization. Such algorithms take immense amounts of computing power, whichcomes at a cost.

So, even if blockchain technology can solve theproblems of securing and storing the data for scientific research, theauthorization of each network member remains an issue.

Problem#2: Lack of Legislation

As scientific society follows certain rules established by law, usingblockchain technology may present certain legislation-relatedissues:

All these issues need further clarification and the development oflegislation that will cover and resolve them.

Problem#3: Potential Hacker Attacks

Although blockchain is considered one of the most secure technologies inthe world, theres a possibility that a blockchain can be hacked.

This happened to Coinbase and Ethereum Classic when a hacker gainedcontrol of more than half of the networks computing power. Covering thisstory, MITTechnology Review listed the reasons that could potentiallyundermine the security of the blockchain technology:

Although now it is the best solution to ensure security, blockchaintechnology is far from being perfect. Before switching from a centralizedserver to decentralized cloud storage, researchers should understand thatalthough the chances of research information getting hacked are lower, it isstill possible.

Blockchain Brings New Potential to Science

Apart from some issues, blockchain technology brings a variety ofbenefits to the scientific community. Every researcher knows that effectivecommunication, transparency, and data security are crucial for high-qualityresearch.

Although blockchain technology is still evolving, it can already offermany advantages to the scientific community. And, as the evolution ofblockchain technology shows no signs of stopping, we can safely say that oneday it will become integral for scientific research and science in general.

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Blockchain for Science: Revolutionary Opportunities and Potential Problems - RTInsights

Chinese President Xi Jinping 2019 New Economy Forum in Beijing

Last month Chinese leader Xi Jinping gave a speech where he encouraged Chinese enterprises to seize the opportunity in using and accelerating the development of blockchain technology. This was a significant event in Chinas perspective of the technology and cemented several previous public statements regarding blockchain. It took the markets by surprise as the shares of 70 Chinese technology companies rose significantly, the price of bitcoin surged, and internet searches for the term blockchain on WeChat grew by 60 times. This opportunity gave large local enterprises such as social media giant WeChat and payment platform AliPay the green light to innovate freely, placing enormous power in their hands.

Why is this one single speech so important? Well, there are four main reasons why Chinas newly unveiled blockchain policy makes sense.

Reason 1: Establishing the blockchain standard

China is big on technology innovations and is always trying to be the leader. What we are seeing now with blockchain is the third time the government has promoted certain technology. Previously this was done with 5G and AI and it worked; we saw a boost in the technology across the world. For example, Huawei, one of the largest Chinese companies with the massive power of 76,000 research and development staff and Q1 2019 revenues of $26 billion, is already implementing the largest 5G projects in Europe. Now, China is doing the same with blockchain; by declaring it a national priority they will have every Tier 1 and 2 cities implementing their own blockchain and digital assets policies and enforcing the blockchain standard.

Reason 2: Getting an advantage in the trade war with the USA

Its no secret to anyone that the trade war talks between China and the United States are not getting any better. After imposing tariffs on exports and agriculture, the battleground is shifting to technology now. China, having lost its largest trading partner, has found itself looking for new export locations in Europe, the Middle East and Africa, mainly around the Silk Road Economic Belt. The advantage of having a superior blockchain technology will give China an enormous trading opportunity with the emerging technology markets.

Silk Road Economic Belt

Reason 3: Digital RMB can be a global currency

China is going all-in on digital assets and as part of it they are developing Digital Currency Electronic Payments (DC/EP) platform which requires users private information when they sign up but still providing controlled anonymity.

Technical Aspects of CBDC in a Two-Tiered System

This is the initiative that aims to develop a Chinese Central Bank Digital Currency (CBDC) issued by the Peoples Bank of China (PBoC), backed by fiat reserves and having some transaction anonymity and extensive encryption services. The goal here is to push this new digital yuan to be a global currency. The reality now is that the yuan (RMB), in its current form, is not accessible and liquid on the international foreign exchange markets. For example, for 2018 the foreign exchange reserves consists of 61.74% USD, 20.67% EUR and 1.89% RMB, so there is definitely room for growth here.

With this new digital RMB, China will be able to offer cross-border payments at a lower cost and with increased speed. Furthermore, using the automation features of smart contracts will provide easier liquidity management and trading efficiency and eventually establish the digital RMB as an upgraded version of the current M0 supply.

Reason 4 They want a counterpart for Libra

When Facebook announced the launch of Libra and that it will work with and be backed by a basket of currencies excluding the RMB, the Chinese government, particularly the leadership of the PBoC, felt excluded and decided to respond. In contrast with the Libra Association, which is established in Switzerland and faces the need to satisfy all the regulators in all countries they want to operate in, potentially risking its existence, the digital yuan initiative has a clear path to launch, coming as a top-down endorsed policy. Everything Libra is trying to achieve looks like it will be much easier to accomplish by China, having the payment rails of UnionPay and AliPay, plus the super-app WeChats massive exposure of 1 billion monthly active users and already operating as a digital bank.

After Xis announcement, a wave of blockchain initiatives and funding news went public; for example, Hande Financial Technology Holdings (HDFH), based out of Shenzhen, revealed an investment fund of $1 billion targeted for blockchain consortium development. The fund was created by HDFH, the Zhongguancun Private Equity & Venture Capital Association (ZVCA) and Yillion Bank.

All of this is great news for companies focusing on enterprise blockchain technology as it will drastically push it forward and will have a real-world usage at scale. Surprisingly those new advancements will be coming from China rather than the usual blockchain production areas like New York and San Francisco and lastly, they wont be open-sourced and accessible to the world as we are used to.

Forbes Blockchain 50: Learn about the companies investing in the tech that will speed up business processes, increase transparency and potentially save billions of dollars.

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Why Chinas Blockchain Plan Is Winning And The U.S. Should Pay Attention - Forbes

November 27, 2019 -Global blockchain technology complements healthcare artificial intelligence (AI) and internet of things (IoT) - based marketplace offerings, and is expected to cross $500 million by 2022 at a compound annual growth rate (CARG) of 61.4 percent, according to a recent Frost & Sullivan report.

Health insurance payers, providers, and pharma companies are expected to adopt blockchain systems ahead of other healthcare industry stakeholders, Kamaljit Behera, senior industry analyst, transformation health, said in the press release. In the future, distributed ledger technology (DTL) will be leveraged by telehealth vendors and tech giants such as Apple, Amazon, Google, and Microsoft to monetize data science and analytical services with innovative patient-centric care models.

With the question of trust and security at the forefront of digital healthcare, Frost & Sullivans recent study intended to uncover the reason behind the success of blockchain technology in the healthcare industry as it becomes gradually implemented into this space. By analyzing commercial partnerships and best practice case-studies, they hoped to identify growth opportunities as well.

Using the information from the study of 250 vendors, the analysis found that there are numerous ways providers can successfully integrate blockchain technology in the healthcare space, including explore applications like healthcare data infrastructure, on-demand healthcare, pharma drug supply chain and other areas of technology.

Providers may also consider becoming part of consortiums such as synoptic, Hashed Health, Insureum, and MediBloc.

In addition, it is also important to engage with buyers and establish a collaborative ecosystem for developing focused cases and governance standards for future commercial scalability and success.

Because this large-scale deployment of PHR application seems more practical in Europe and Asia where the healthcare data vendor system is less complex, it is important to target not only the US, but also other countries with payer-and provider-focused blockchain applications.

The interplay between Blockchain, AI, and IoT, will further catalyze the space of innovation adoption and related applications in the healthcare realm.

Although the healthcare market struggles to find a trade-off between the risk and reward of going digital, the integration of Blockchain technology may provide an appropriate solution to reduce some of the urgent needs around trust and security with digital workflows, the press release stated.

With the worry of security surrounding healthcare in a digital space, last month, Cumberland joined the MediLedger project, which currently uses blockchain technology to improve drug supply chain networks.

An initiative of Chronicled, the project focuses on working with healthcare and pharmaceutical industries to develop these blockchain- based supply chain networks based on open standards and specifications.

Its exciting to be involved in helping to simplify the complexities of the pharma supply chain through the use of cutting-edge blockchain technologies, said Jeff Lee, managing partner of Cumberlands Life Science Division.

The project utilizes blockchain technology to store synchronized public data so that individuals all use the same source of truth. In addition, it maintains a record of confidential transactions and uses smart contracts to highlight business rules and manage transactions, which ensures the nobility of the system.

MediLedger vocalized that it is releasing a saleable returns verification system that meets Drug Supply Chain Security Act regulations, which is expected to take place on November 27. The system will look up directory verification routing service, which can allow for quicker responses between pharmaceutical wholesalers and manufacturers. Only authorized companies will be allowed to place their products in the directory, establishing the highest security.

Blockchain technology, in the context of MediLedger, ensures that there is one source of truth, and we can design it so only the license holder can create records for its own products, for example. This may seem like a simple illustration, but it is revolutionary, said Chronicled CTO Maurizio Greco.

Link:

Blockchain Technology Marketplace Expected to Reach $500M by 2022 - HITInfrastructure.com

Using blockchains core properties, investors can now invest in global private companies with smaller ticket sizes

Blockchain-enabled exchanges will allow companies to privately list on them using a small portion of their shares

These exchanges would ideally use a public blockchain network with an active ecosystem of tokenized assets

You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete. ~ Buckminster Fuller

Private equity is an exciting asset class as it has a history of delivering huge returns. However, private equity investments usually require a high minimum sum and also specific holding periods, only after which investors can cash out, making it inaccessible to many investors. Now, increasing access to this asset class can make the market more liquid. Blockchain can make that possible.

Referring to Time to reimagine your stock exchange with blockchain, an in-depth analysis of the scope of blockchain in stock exchanges, the value blockchain can bring is undeniable. As proof, we see different implementations throughout the globe.

Time to reimagine your stock exchange with blockchain discussed how using blockchain tech can benefit both the retail investors as well as private companies looking to raise capital. Here, we will explain precisely what a blockchain-enabled and regulated private exchange would look like.

Using blockchains core properties, investors can now invest in global private companies with smaller ticket sizes to diversify their portfolio. Probably the most attractive feature is that investors can continuously trade in and out of the shares while receiving regular and periodic information disclosures from the companies. By adding a small portion say 5 to 10% of the portfolio into privates companies through blockchain-enabled privates exchanges, investors can increase their returns and diversify their risk to spread across evenly.

These blockchain-enabled exchanges will allow companies to privately list on them using a small portion of their shares. Which entitles them to remain a private entity. Consequently gaining access to a fresh pool of investors, bypassing the need to go through a private equity fund. This provides liquidity and will unlock value for shareholders while giving investors the ability to trade fractional ownership in exciting and growing companies.

These exchanges would ideally use a public blockchain network with an active ecosystem of tokenized assets for smooth integration. The blog, Your ultimate guide to Blockchain for the 21st century,- discusses the importance of smart contracts as a powerful Automator. Blockchain-based exchanges use the power of smart contracts to enable trading with improved security, ensure compliance, increase transparency, reduce settlement times, and lower operating costs.

An additional benefit, by using a public blockchain network, the exchange can interlink with global exchanges and open up access to tradable private equities to investors worldwide. Compliance to market operators like the Securities and Exchange Board of India (SEBI) or the Monetary Authority of Singapore(MAS) will be required as the tradable private equity will be in the form of security-backed blockchain tokens.

Many companies are staying private longer, which is a problem for shareholders who want timely exits. Without an expensive and complicated public listing, it becomes difficult for business owners to increase their shareholder base. Therefore Blockchain-based exchanges are needed to provide investors fair valuation and the ability to recycle their capital continuously efficiently.

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What If Global Markets Were Interlinked Through Blockchain - Inc42 Media

Mythical Games has established itself as one of the most promising companies leading the charge for blockchain-based gaming experiences.

Earlier this month, Mythical Games announced that it has bulked up on both funding and talent with a new $19 million investment round led by Javelin Venture Partners, bringing the studio's total to$35 million to date.

According to Rudy Koch, co-founder and VP of Blockchain & Marketplace Services, the additional investment will help Mythical Games to realize its vision for rethinking current game models and delivering new kinds of player-owned economies.

"We have an opportunity to reshape the way game economies are designed and solve some pressing problems with the current free-to-play models," Koch told Decrypt. "For us, the player-owned economy brings players, content creators, and developers closer to the games they love, and provides an inclusive economy where everyone gets to participate."

"With the additional funding, we look forward to showcasing the tremendous value of blockchain technology in achieving this goal. While blockchain tech has captured the attention of many industries, in many ways, it's still very much an experimental tech," he added. "There is a lot of work to be done in legitimizing the tech and preparing it for mass-market products and consumers. The additional funding allows us to scale up our efforts."

Mythical's first game is Blankos Block Party, a colorful gaming playground that looks like a hybrid of customizable vinyl toy culture and Sony's creation-centric LittleBigPlanet gaming franchise. It's a place where players can create their own game experiences within a colorful and inviting massively multiplayer online world, and share them with others. They can also own and sell extremely limited-edition Blankos digital vinyl toy characterssome of which will be limited to one unit across the entire game, as verified by the blockchain.

While Mythical and its investors seem plenty excited about Blankos Block Party, which doesn't yet have an announced release date, the studio's larger play is to make the blockchain-driven Mythical Platform available to other game developers. That way, other teams can create their own experiences around the player-owned economy model that Mythical aims to prove out with Blankos, simplifying the process of adding that functionality to a game.

"We believe that player-owned economies belong in any game. We want to provide a suite of platform services that abstracts the complexities of blockchain and allows developers to design game economies that empower players and content creators to get involved," says Koch. "Today, some of the most successful games have monetization models that are completely built around in-game item economies. Blockchain has come in at a perfect time to elevate the potential of digital items and give game developers more tools to build robust economies."

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The games industry is certainly taking note of blockchain technology; Mythical Games has hired a whos who of industry veterans whove worked at big hitters like Oculus, Activision and EA. They include chief operating officer Jeff Poffenbarger (ex-Oculus, Activision), chief product officer Pete Hawley (ex-Zynga, Electronic Arts), VP of marketing Nicole Yang (ex-Telltale Games, Zynga), and general counsel Greg Deutsch (ex-Activision). Javelin Venture Partners' Alex Gurevich and former Sanrio global COO Rehito Hatoyama have also joined the companys board.

Much of the studio's leadership has extensive game industry experience, and according to Koch, there's an excitement within the team around pairing their game development expertise with the possibilities that blockchain offers.

"With smart contracts, we can ensure players, content creators, and developers get to participate in flourishing game economies," says Koch. "We believe that true ownership of digital assets, verifiable scarcity, and secondary markets are some of the strengths that blockchain brings to the table, and key ingredients to the player-owned economy."

"As game developers, we get excited whenever a new technology comes in and challenges the way we've been doing things, or allows us to create new experiences for players," Koch adds. "Blockchain is one of those techs. Blockchain technology, combined with our dGoods standard, allows us to own and track digital items in a way we've never been able to before."

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Mythical Games wants to conquer the world of free-to-play with blockchain - Decrypt

Thailands blockchain and digital asset industry isnt taking off as much as they were initially hoping, so theyre looking to make some changes. Local news outlet Bangkok Post reported on Nov. 25 that Thailands Securities and Exchange Commission (SEC) wants to reconsider its crypto policy in 2020.

The reason lies in the poor uptake of its certification and licensing scheme by cryptocurrency businesses. Since the rules took effect last year, only five companies have completed certification, and of those, just two have launched. The SEC has not yet given details of how current practices would change, but several amendments are being considered.

The regulator must be flexible in applying the rules and regulations in line with the market environment, stated Ruenvadee Suwanmongkol, the Secretary-General of the SEC per the report.

Ruenvadee continued:

For example, laws should not be outdated and should serve market needs, especially for new digital asset products, and be competitive with the global market. We need to explore any possible obstacles.

The news coincides with Thai lawmakers plan to amend cryptocurrency laws. Some regulators had voiced concerns that regulations have made the nation uncompetitive. This pro-crypto sentiment has extended to other government bureaus per Bangkok Post.

On the same day, it reports circulated that the Excise Department of Thailand is exploring using blockchain technology for tax refunds and the prevention of tax frauds in Thailand.

The current system used by the department involve paper-based documents that are submitted by the oil exporters, and according to Patchara Anuntasilpa, Director General of the Excise Department. The inspection of these documents is not as thorough as it needs to be, he added. The department would adopt the blockchain-based system of tax refunds by mid-2020.

Currently, Thailand has a 7% VAT rate for sales of goods and services in the country. Some oil traders claim a tax waiver by providing documents of oil export, but still, sell the oil in the country without paying the VAT. This avoidance practice leads to deficiencies in the income of the excise department, which it hopes to solve with a blockchain platform.

A blockchain system will enable the Excise Department to carry out a careful inspection of tax payments and prevent oil tax frauds by oil exporters while also decreasing the time spent on review of payments. Also, the agency will be able to keep an eye on the entire export custody chain, from the refinery to the depots and even to the destination countries.

Per the report, the Excise Department has partnered with Krungthai Bank (KTB) to develop this blockchain-based system to upgrade its services.

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Thailand to reboot crypto policies in 2020, apply blockchain to oil - CoinGeek

DUBLIN, Nov. 29, 2019 /PRNewswire/ -- The "Blockchain in Retail Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The Blockchain in Retail Market is poised to grow at a CAGR of 60.4% during the forecast period 2019-2024. Transparency in retail supply chain, as well as demand for improved customer service, is driving the market growth.

Key Market Trends

Smart Contracts to Dominate the Market

Asia-Pacific to Witness the Highest Growth

Competitive Landscape

The market is fragmented with many existing and new vendors coming up with solutions for small and large, online as well as offline retailers.

Recent Industry Developments

Key Topics Covered

1 INTRODUCTION1.1 Study Deliverables1.2 Study Assumptions1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS4.1 Market Overview4.2 Introduction to Market Drivers and Restraints4.3 Market Drivers4.3.1 Need for Retail Frauds Prevention and Detection is Driving the Market Growth4.4 Market Restraints4.4.1 Lack of Industry Standardisation for Blockchain is Discouraging the Market Growth4.5 Industry Attractiveness - Porter's Five Force Analysis4.5.1 Threat of New Entrants4.5.2 Bargaining Power of Buyers/Consumers4.5.3 Bargaining Power of Suppliers4.5.4 Threat of Substitute Products4.5.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION5.1 By Application5.1.1 Compliance Management5.1.2 Smart Contract5.1.3 Supply Chain and Inventory Management5.1.4 Transaction Management5.1.5 Automated Customer Service5.1.6 Identity Management5.2 Geography5.2.1 North America5.2.2 Europe5.2.3 Asia-Pacific5.2.4 Rest of the World

6 COMPETITIVE LANDSCAPE6.1 Company Profiles6.1.1 SAP SE6.1.2 IBM Corporation6.1.3 Oracle Corporation6.1.4 Microsoft Corp.6.1.5 Amazon Web Services, Inc.6.1.6 Capgemini SE6.1.7 Accenture PLC6.1.8 Provenance Ltd.6.1.9 Cognizant Technology Solutions Corp.6.1.10 Reply S.p.A.6.1.11 BlockVerify6.1.12 Sofocle Technologies (OPC) Pvt. Ltd.6.1.13 Modultrade Ltd.

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/xtltsn

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets Laura Wood, Senior Manager press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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SOURCE Research and Markets

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Global Blockchain in Retail Market Projected to Exhibit a Robust CAGR of 60.4% During 2019-2024 - PRNewswire

Added on November 29, 2019The News WheelBlockchain , lithium-ion batteries , TechnologyPhoto: Volvo

Following the launch of its first all-electric car, the XC40 Recharge, Volvo has announced it will use blockchain technology to track the use of cobalt in its batteries, the first automaker to do so.

The Swedish company says that traceability of raw materialsused in the production of lithium ion batteries, such as cobalt,is one of the main sustainability challenges faced by car makers.

Blockchain is a digital ledger technology that should, intheory, greatly enhance the transparency and reliability with which the originof a material can be determined.

Developed to support the bitcoin cryptocurrency, blockchain was quickly identified as a method organizations could use to store data that is inherently resistant to modification, such as hacking.

A blockchain is essentially a list of records in which eachblock contains a cryptographic hash of the previous block, ensuring that anyoneseeking to maliciously alter a block would have to hack the entire chain,making it highly unrealistic.

Volvo says that in its case, data in each block wouldinclude the origin of the cobalt used in a battery as well as key attributes,such as its size and weight. It would also include the chain of custody andinformation establishing that participants behavior is consistent with OECDsupply chain guidelines.

The automaker is working with Chinas CATL and South KoreasLG Chem, which globally supply its batteries, as well as with leading globalblockchain technology firms to implement this enhanced traceability of cobalt.

We have always been committed to an ethical supply chain for our raw materials, said Martina Buchhauser, head of procurement at Volvo Cars. With blockchain technology we can take the next step towards ensuring full traceability of our supply chain and minimising any related risks, in close collaboration with our suppliers.

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Volvo Uses Blockchain to Track Car Battery... - The News Wheel

LONDON (PRWEB) November 30, 2019

What happens when you combine a team from Eidos, Fable and Microsoft to revive a best-selling game book using the latest trend of technology? Rumours are we'll certainly find out.

'The Way of the Tiger' was a best selling classic in the 1980s, written by award-winning author Jamie Thomson and Mark Smith. It isset in the fantasy world of Orb where the reader takes the part of a youngninjaon a quest toavenge his foster father and recover stolen scrolls. The revived game book is to be renamed 'Arena of Death' and will pit player against player in fantasy card battles, with the same characters, skills and magic of the original series.

The CEO of the new brand, and original authorJamie Thomson, decided to bring the ninja-fuelled, samurai-packed game to blockchain because he believed "It felt like the right time. We were going to relaunch the series into a computer game format but this new technology (blockchain), just made more sense. Imagine playing Magic the Gathering but knowing if you owned a card, it really does belong to you. Or if we say there are only 100 editions of an item or skill, you know there really are only 100 editions".

In the last two years, the concept of owning what are called Non-Fungible Tokens as part of the gaming world, has become increasingly popular with revenues of hundreds of millions. Games such as Gods Unchained and Neon District have taken full advantage of this technology in order to bring more value to cards and items.

'The Way of the Tiger' will launch on the VeChain Thor blockchain, a blockchain which has been largely associated with enterprises and supply-chain management. The blockchain was chosen 'due to its ability to scale, and create our cards and items without having to deal with all the crypto stuff". Jamie is referring to fee delegation utilised by VeChain which removes the need for crypto currency in order to create cards.

'The Way of the Tiger' will be releasing their promotional materials and roadmap December 1st 2019 and looks set to be a top contender for the gaming world in 2020.

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Classic Game Book Series to be Revived to Blockchain - PR Web

Image credit: Depositphotos

Entrepreneurs should take a cautious look beyond the hype surrounding blockchain and assess the true capabilities of the innovation at this early stage in its development.

In theory, blockchain has enormous potential for business applications. However, once you see beyond the holy grail hype of blockchain theory, you may experience a sobering epiphany.

Since Satoshi Nakamotos 2008 unveiling of the technology, researchers have supported blockchain as a viable security solution in a world where humans are struggling to keep up with technology.

All the numbers add up on a whiteboard, but so far applying the technology as a security solution has proven much more challenging than conceptualizing various use cases.

Hypothetically, blockchain could disrupt information management across a range of industries. The technology can enable enterprises to manage data with heightened efficiency and transparency.

What blockchain currently does well is shift trust from people to technology. However, it will never eliminate the need for human intervention. Any practical application of blockchain must work with some variant of traditional information management.

The decentralized nature of blockchain considerably enhances data security. Also, because blockchain does not incorporate identifying information, its inherently anonymous. Moreover, theres a built-in trust component with blockchain because of the decentralized network of computers needed to resolve its complex algorithms.

In logistics, for instance, supply chain companies could use blockchain to track the movements of goods from manufacturers to the end-user. The technology would also simplify the transfer of shipments.

Alternatively, manufacturers could use blockchain to ensure quality assurance and conduct investigations with ease. Also, blockchain could prove useful for accounting because it protects data from tampering. It produces an audit trail that personnel can trace easily.

In a recent Deloitte survey, 39 percent of responding executives expressed their intent to invest at least $5 million into blockchain development. But is that too much faith in blockchain?

According to Alan Amling, blockchain expert and teaching fellow and University of Tennessees supply chain management program, industry 4.0 technologies, including blockchain, are redefining business processes in the digital economy. Whether $1 million, $5 million, or $10+ million is the right amount of investment depends on the size of the company and the issues and opportunities they need to tackle.

I think blockchain will be one of those Wait wait wait wow, that was fast innovations and companies need to be ready. As standards for public blockchains become implemented, a rising tide will lift all boats. When that happens, you want to make sure you have a boat, he says.

For supply chain and logistics managers specifically, how much trust should they put in blockchain? Amling suggests that companies should trust but verify.

Many companies are taking the pragmatic steps of conducting pilots to understand the technology and the highest payback applications. Now were beginning to see positive ROI use cases appear, especially in private blockchains. However, there are still many blockchain applications that could be better served by existing technology.

The highest payback applications tend to be those that include sharing data with a vast network of parties, where data provenance and audit trails are highly valued, and all parties can agree on the rules for sharing access.

Technology issues aside, theres another problem regarding the commercial application of blockchain technology. Initial coin offerings (ICOs) are a way that businesses can use bitcoin to raise capital.

Blockchain isnt yet a mainstream technologyhowever, plenty of snake oil dealers who use the technology to make billions using fraudulent ICOs. Resultantly, you may want to think twice before staking a corporate claim on the bitcoin landscape.

So far, the blockchain vertical isnt delivering as desired. Of 43 major blockchain ICOs, not one has successfully created a product, and according to the first annual Cryptocurrency Anti-Money Laundering Report, cybercrimes executed using digital coin exchanges surged from $125 million to $356 million in just six short months in 2019.

In theory, blockchain is a phenomenal innovation. In practice, however, the technology isnt entirely living up to its reputationat least not yet.

The blockchain industry is still in its beginning stages. Resultantly, enterprises have yet to develop ample best use cases for the technology.

However, companies that experiment with blockchain without a quantifiable definition of success will fail to reap a return-on-investment, according to a report published by McKinsey and Company business consultancy. Accordingly, decision-makers must determine why they are investing in blockchain development before beginning research.

For some enterprises, the studies conducted by their industry competitors provide a foundation to begin with. For answers, stakeholders can examine the limited research and development information of their industry peers. While there is limited data available, some early adopters have at least established the relevancy of the technology for their vertical.

Also, its not necessary for blockchain to replace human mediators to generate value. A blockchain-powered future will most likely always require human mediatorsalbeit in a diminished capacity. For now, blockchain provides value in that it reduces costs, rather than completely transforms enterprise business models.

Furthermore, analysts forecast that the deployment of blockchain at scale is still years away. To date, companies have found a considerable challenge in scaling up to a full-size live environment where humans still have sufficient control over transactions. In this matter, theres a valid cause for blockchain research and development for most enterprises.

Around the world, business leaders want to know how they can leverage blockchain to gain a competitive advantage. Despite obstacles, blockchain technologists are making remarkable research and development breakthroughs.

Companies such as American Express, Visa, MasterCard, and Goldman Sachs have all invested in blockchain R&D. In the automotive industry, manufacturers are researching blockchain deployments for autonomous vehicles, electric-powered mobility, and other applications.

The Toyota Research Institute, for instance, is leading in research for using blockchain to decentralize the trade of autonomous vehicle data. A breakthrough in this area will make it impossible for dealers to rollback odometer mileage.

In aviation, Airbusas part of the Hyperledger Consortiumresearched blockchain for jet plane part tracking, and Air France is conducting blockchain research to track maintenance supply chains and workflows.

Maersk is researching blockchain for logistics monitoring, and in telecom, industry leaders are researching ways to deploy blockchain to manage the rapid proliferation of Internet of Things (IoT) devices.

The IoT universe is expanding rapidly, but security for the network of connected devices lags far behind. Meanwhile, Cisco is experimenting with blockchain as a way to verify the identity and trustworthiness of IoT devices.

Recent years have resulted in a fast upshift of blockchain research and development activities. Analysts forecast this trend will continue.

Rather than conduct pure experimentation, however, enterprises now want to learn how to extract strategic value from the technology. As more studies conclude, blockchain will most likely go mainstream as researchers produce clear and tangible results that they can relay to non-technical executive managers.

As the race to leverage blockchain wages on, more organizations with aligned interests will join forces to figure out how to make use of the technology. Very soon, the bodies of work resulting from blockchain R&D will enable enterprises to address critical pain points and compete on yet another tear of technological excellence.

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What businesses dont know about the dark side of blockchain - TechTalks

Dr. Alexander Adam shares more insights on how deepfakes can be counteracted with the help of AI. Machine learning algorithms are great at recognising patterns in large amounts of data. ML can provide a way to detect fake audio from real audio by using classification techniques that work by showing an algorithm large amounts of deepfake and real audio and teaching it to distinguish the difference in the frequency composition between the two.

For example, by using image classification on the audio spectrograms you can teach an ML model to spot the difference. However, as far as I am aware no out-of-the-box solution exists yet.

Adam continues: In part, this may be because audio deepfake hasnt been regarded as being as much of a threat as video deepfake. Audio deepfake are not pitch perfect and you should be able to tell the difference if its tailored to a specific person that you know.

That said, interference across phone lines or staging general outside background noise could probably be used to mask a lot of this. And as there has been so much high profile media attention on deepfake videos, the public is perhaps less aware of the potential risks of audio deepfake. So, if you have a reason to be suspicious, you should always validate its who you think it might be.

How is the future shaping up in this regard? We expect that the creation and use of audio deepfake for malicious purposes will increase in the coming years and become more sophisticated.

This is because there is a better understanding of machine learning models and how to transfer what was used on one model to another person and train it quickly. But, its worth noting that as the generation of deepfake content gets better, typically so do the detection methods, concludes Dr. Alexander Adam.

Modex BCDB, a new take on blockchain technology

Currently, the majority of blockchain solutions present on the market are oriented towards blockchain as a service, limiting themselves to a rigid view and application of the technology. A company or the CTO (Chief Technology Officer) of a company can come to the realization, after a bit of study that their business can solve several issues and streamline back-end processes by implementing blockchain.

The problem is that in order for a company to implement blockchain technology only through its own tech team, they need to invest a significant amount of time and resources to study what type of blockchain is most suited for their needs, and commence a lengthy process of learning the development specificity of the respective blockchain, as well as scouting for developers proficient in the technology.

Modex BCDB is a new take on blockchain technology which removes the need to invest resources in blockchain training and facilitates fast adoption of the technology in businesses. The solution proposed by Modex is a middleware that fuses a blockchain with a database to create a structure which is easy to use and understand by developers with no prior knowledge in blockchain development.

As a result, any developer who knows to work with a database system can operate with our solution, without needing to change their programming style or learn blockchain. Through our blockchain component, Modex BCDB is able to transform with minimal changes any type of database into a decentralized database which holds the same valuable characteristics inherent to blockchain technology: transparency, increased security, data immutability, and integrity.

Modex BCDB doesnt work by deleting the existing database or data entries. The database is maintained intact throughout the process, data integrity is ensured by calculating the metadata of the records and storing it on the blockchain.

The system does not restrict access to the blockchain or to the database, so when a developer needs to make a reporting or ETL transformations, they can perform warehouse analytics by accessing the database directly. This is because Modex BCDB has been purposely designed to be agnostic. With our solution, clients are able to set up a network, regardless of the type of database employed. In a consortium, each company can maintain what type of database they prefer and connect them through a blockchain-powered network to ensure cohesion while protecting corporate interests.

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Using the power of blockchain to combat deepfake videos - Open Democracy

89% of Chinas blockchain firms have allegedly tried to create their own cryptocurrency, according to a senior exec at a local blockchain association.

According to the state-run CCTV on Nov. 21, Yedong Zhu, the president of the Beijing Blockchain Technology Application Association (BBAA), revealed that the vast majority of blockchain industry in China is focused on tokens, not blockchain.

In addition to Zhus remarks, the report by CCTV covered a new study led by the Peoples Bank of China (PBoC).

Co-authored by five local financial and technology authorities, the Bluebook on Blockchain report reveals that there are 28,000 blockchain enterprises in China.

The authors of the bluebook included the Chinese Academy of Social Sciences, the Payment and Clearing Association of China, the Beijing Blockchain Technology Application Association and Social Sciences Academic Press.

According to the BBAA president, only 4,000 Chinese blockchain companies are focused on pure blockchain technology, while as many as 25,000 have purportedly tried to issue their own cryptocurrency or token.

The news comes amidst the recently sparked Chinese push into blockchain technology development, which was triggered by President Xi Jinpings call to embrace blockchain in October.

The push was accompanied by a renewed wave of pressure on local crypto-related businesses. On Nov. 21, the PBoC's Shanghai unit announced it was taking action against entities allegedly involved in trading cryptocurrencies such as Bitcoin (BTC). On Nov. 22, authorities in Shenzhen province claimed that 39 exchanges fell afoul of Chinas cryptocurrency trading ban.

State-led publications have emphasized that the countrys blockchain push should be limited purely to blockchain technology, and not include cryptocurrency-related initiatives.

The majority of such companies are located in the Guangdong and Shenzhen provinces.

Additionally, the report claims that the scales of the black industry associated with online fraud in China has reached 100 billion Chinese yuan ($15.6 billion.)

Originally posted here:

89% of Chinese Blockchain Firms Have Tried to Issue Crypto: Report - Cointelegraph

"Health insurance payers, providers, and pharma companies are expected to adopt blockchain systems ahead of other healthcare industry stakeholders," said Kamaljit Behera, Senior Industry Analyst, Transformational Health. "In the future, distributed ledger technology (DLT) will be leveraged by telehealth vendors and tech giants such as Apple, Amazon, Google, and Microsoft to monetize data science and analytical services with innovative patient-centric care models."

Frost & Sullivan's recent analysis, Global Blockchain Technology Market in the Healthcare Industry, 20182022, examines key growth opportunities and highlights key success factors and strategic imperatives for blockchain commercial deployment consideration in the healthcare space by assessing commercial partnerships. It also analyzes best-practice case studies for the identified growth opportunities.

For further information on this analysis, please visit: http://frost.ly/3w3.

In an emerging marketplace, the most successful blockchain technology providers will be those that:

Global Blockchain Technology Market in the Healthcare Industry, 20182022is part of Frost & Sullivan's global Life Sciences Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Global Blockchain Technology Market in the Healthcare Industry, 20182022K31A-52

Contact:Mariana FernandezCorporate CommunicationsT: +1 210 348 10 12E: Mariana.Fernandez@frost.com

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SOURCE Frost & Sullivan

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Blockchain in Healthcare Will Live Up to the Hype Versus Reality for Stakeholders - PRNewswire

By: Iohann Le Frapper, group general counsel of Pierre Fabre and previously chair of the global board of directors of the Association of Corporate Counsel, and Dario de Martino, M&A and private equity partner and co-chair of Blockchain Practice at Morrison & Foerster LLP

Blockchain technology has been heralded as the great disrupter. From transforming a corporations supply chain to securing intellectual property rights or transferring anything of value such as intangible or real estate assets, blockchain technologys uses are numerous and have now moved beyond pilot/proof-of-concept stages to actual commercial use cases.

On May 23, 2019, Iohann Le Frapper, group general counsel at Pierre Fabre Group, and Dario de Martino, partner at Morrison & Foerster LLP and co-chair of the firms blockchain group, spoke at a roundtable discussion during the ACC Global GC Summit in London, to assist general counsel understand this exciting new technology and the challenges to address in several industries. The speakers focused on cutting through the hype surrounding blockchain technology and delved into where blockchain is ready for adoption at a corporate level (e.g., in supply chain management and compliance).

Their most important conclusion was that by understanding the legal, technical, and business issues underpinning the adoption of blockchain technology, GCs can take a leading role in contributing to more agile business operations, digital transformation, and the related paperless cost-efficiencies.

For those who might have missed the event, the following provides an overview of the discussion with select updates to reflect the timeliness of a rapidly evolving market. This overview has been compiled into a three-part series, each addressing the big questions that GCs need to be prepared to answer.

What is blockchain for someone with no computer science background?

Blockchain technology became popular in late 2009 with the rise of Bitcoin, perhaps the most notorious application of the technology. Fundamentally, blockchain is an umbrella term that refers to a data structure that makes it possible to create a tamper-proof, distributed, peer-to-peer system of ledgers containing immutable, time-stamped, and cryptographically connected blocks of data.

In practice, this means that data can be written only once onto a ledger which is then read-only for every user. However, many of the most used blockchain protocols, for example, the Bitcoin or Ethereum networks, maintain and update these distributed ledgers in a decentralized manner, which stands in contrast to traditional networks reliant on a trusted, centralized data repository. In structuring the network this way, these mechanisms function to remove the need for a trusted third party to handle and store the transaction data.

Instead, the data are distributed so that every user has access to the same information at the same time. In order to update that ledgers distributed information, the network employs pre-defined consensus mechanisms and military-grade cryptography to prevent malicious actors from going back and retroactively editing or tampering with the information previously recorded on it.

What is the difference between a public and private blockchain?

Depending on the objectives of a given project, blockchains can be structured so that they are public, private, or a hybrid. Public blockchains are large distributed networks based on open-source code that are developed and maintained by an online and dedicated community of users. Some of the most well-known public blockchains include Bitcoin, Ethereum, and Stellar.

In these networks, there are no restrictions on who can participate, so anybody can read transaction records, write data, and in certain networks such as Bitcoins, validate transactions with a practice known as mining, in exchange for cryptocurrency or another digital token reward. In public networks, this decentralizing feature of blockchain comes with significant resource and processing drawbacks.

Many blockchain-enabled platforms run very slowly and have interoperability and scalability issues, and they tend to require massive amounts of energy to function. For example, the Bitcoin network requires the expenditure of about 50 terawatt hours per year equivalent to the energy needs of the entire country of Singapore.

When other cryptocurrencies based on similar validation models are factored in, it turns out that it takes roughly the same amount of energy to mine one dollars worth of precious metals like gold as it does to mine one dollars worth of virtual currency. While networks such as Ethereum are moving away from energy-intensive consensus and validation models, the process remains slow and the need for a more eco-friendly deployment of blockchain networks will be more and more pressing in light of growing climate change concerns and the corporate responsibility of corporations.

Private or permissioned blockchains are more centralized than their public counterparts. Some well-known permissioned blockchain protocols include IBMs Hyperledger and R3s Corda. These private blockchains are still large distributed networks, but they operate under the leadership of a known entity. This entity determines the role that individuals can play within the network and how they are rewarded for participation, including who may act as a transaction validator on such networks.

Moreover, while many of these permissioned networks are open-source, the required consensus mechanisms are much more energy efficient, since the leader can essentially dictate who validates what per node on the network. As such, many large industry players are looking primarily at the private or permissioned models for their enterprise-level needs.

Before embarking on a pilot project involving a private blockchain network, GCs should consider several potential critical issues such as:

What is the difference between cryptocurrencies and blockchain?

The most important distinction that any general counsel needs to make is that blockchain does not equal cryptocurrency the two remain distinct concepts. Cryptocurrencies like Bitcoin and Ethereum are associated with blockchain because they are essentially value data that are transferred across a blockchain network in a swift and cost-efficient manner without consideration of bank holidays, forex settlement processing timing constraints, national borders, or foreign exchange controls.

However, while cryptocurrencies are certainly compelling, they are just one of the many use cases for blockchain technology that have been identified and brought to market so far. Cryptocurrencies and blockchain generally each have their own separate uses. While blockchain has wider validation and consensus attributes, cryptocurrencies find their strength in monetization and trading as an alternative to fiat currencies like the USD or Euro, if not a competition threat.

Note also that many of these networks also employ digital tokens, essentially a registered unit of measurement or exchange on a blockchain. Tokens are not cryptocurrency, though their value is often denominated in whatever cryptocurrency is native to the public network the token is hosted on.

Nevertheless, in the rapidly evolving space that is the blockchain industry, the lines can blur and definitions can change. As such, it is imperative that GCs understand the differences alluded to above in both substance and terminology. This is particularly true when it comes to the decision whether to utilize a public or permissioned blockchain for an enterprise-level blockchain product.

For companies looking to jump into the space, one of the threshold decisions for market participants is whether to invest in or acquire a public or a permissioned blockchain network, as opposed to hiring or building from scratch. In all likelihood, many will opt for a permissioned blockchain, since they are better suited to enterprise-level adoption and are operated by a known entity.

Moreover, permissioned blockchains do not face many of the issues that hound public decentralized blockchains, including the fact that anyone can access or edit the information recorded on a public blockchain. GCs must be aware that the more public and highly traded a blockchain solution is, the more likely it is to face regulatory scrutiny, which we explain further in the next part of the series.

Did you enjoy this article? Whether you are new to in-house or a seasoned veteran, ACC has the tools, connections, and information to help you make a greater impact on your organization. Subscribe to our mailing list today to access ACCs career-enhancing resources for 30 days.

The Association of Corporate Counsel (ACC) is a global legal association that promotes the common professional and business interests of in-house counsel who work for corporations, associations and other private-sector organizations through information, education, networkingopportunities and advocacy initiatives. With more than 45,000 members in 85 countries, employed by over 10,000 organizations, ACC connects its members to the people and resources necessary for both personal and professional growth. By in-house counsel, for in-house counsel.

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Blockchain Basics: What GCs Need to Know About the Disruptive Technology - Lexology

Germanys Hahn Air recently used the open-sourcetravel distribution platform Winding Tree to issue the worlds first airlineticket powered by the blockchain technology, the company announced.

Hahn has also become the first airline company to flypassengers holding blockchain-powered tickets on its flight that took off from Dusseldorfto Luxemburg on November 18.

The Winding Tree platform allows Hahn Air to list itsinventory and manage their reservation requests and receive payments as soon asthe booking process is completed. Passengers can pay by cash, credit card, or cryptocurrency(LIF token or Ether).

Frederick Nowotny, head of sales engineering at HahnAir, said: We at Hahn Air are constantly exploring new technologies and we areproud to now demonstrate our technical capability to issue blockchain-poweredHahn Air tickets. We are pleased to be partnering with Winding Tree, the mostestablished company when it comes to distributing travel inventory in theblockchain.

Our goal is to investigate and monitor theopportunities this technology holds for travel distribution, even if widespreadacceptance is still a vision of the future, Nowotny added.

The use cases of blockchain technologies in the travelindustry are increasing rapidly. Earlier this month, Australian travel businessWebjet launched its long-in-development blockchain-based platform in order toremove disparities in hotel booking data. Webject, which has been usingMicrosofts Azure blockchain-as-a-service sandbox since 2016, said that the newRezchain application will address hotel reservation status and overcharges bylooking for data mismatches in real-time between customers, hotels and bookingagents, and sending alerts if any are found.

UK-based travel firm Alternative Airlines recently collaborated with Swiss cryptocurrency service Utrust to be able to provide customers with the ability to book flights using cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Dash, DigiByte (DGB) and Utrusts native token UTK. This partnership will introduce instant cross border transactions, buyer protection, and crypto-to-cash settlements to the clients of Alternative Airlines.

Interested in hearing more in person?Find out more at theBlockchain Expo World Series, Global, Europe and North America.

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Hahn Air claims first real-world airline ticket delivered through blockchain - The Block - The Block

NASHVILLE, Tenn., Nov. 25, 2019 /PRNewswire/ -- HCXI, a blockchain and AI based risk solutions company focused on managing alternative and emerging risks as new asset classes, has appointed former Swiss Re and AIG executive David Bassi to its advisory board. Mr. Bassi will advise HCXI on risk transfer and mitigation product innovation bringing considerable experience in insurance risk management and innovation to the role.

Mr. Bassi joins the HCXI Advisory Board with over 25 years of experience in the global insurance industry having held executive roles in innovation, risk management, and modeling. David most recently served as a Managing Director at Ernst & Young in Boston where he focused on insurance strategy and innovation. Prior to this role, he served as the Head of Innovation and Risk Consulting, Casualty, at AIG and held various risk management roles at leading companies including Swiss Re and General Electric. David is a speaker at industry events on topics such as emerging risks, big data, blockchain and the insurance cycle. He is a contributing author to Insurance Thought Leadership having written on the transformative potential of technology and analytics for the insurance industry.

HCXI is currently developing a smart-contract based risk mitigation and transfer product, vizSaver, to address the negative health outcomes and financial costs ($500+ billion) associated with missed patient appointments. vizSaver aligns the interests of patients, health systems, medical cost payers, and providers addressing delivery inefficiencies, social and financial determinants, and other patient, provider, and health system circumstances.

"We are pleased and excited to welcome David to our Advisory Board at this important stage of HCXI's evolution," stated Cyrus Maaghul, Founder and Chief Executive Officer. "As a highly respected and seasoned international insurance executive with valuable risk management, innovation, and data analytics experience, we look forward to David's advice and insight in guiding our objectives to bring breakthrough risk solutions to industry."

About HCXI

HCXI is an early stage RiskTech innovator developing smart-contracts leveraging mobile technology and machine learning as the basis for new risk mitigation, transfer and financing solutions for industries including healthcare, emerging technologies (AI, Blockchain), and others.

https://www.hcxi.co

Media Contact:Cyrus Maaghul615.310.7944229784@email4pr.com

SOURCE HCXI

https://www.hcxi.co

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Blockchain and AI Risk Management Technology Company, HCXI, Announces the Appointment of Former Swiss Re and AIG Executive to Its Advisory Board -...

Ethan Lous book, Once a Bitcoin Miner, is forthcoming from ECW Press.

In the wake of the latest B.C. bitcoin scandals, I talked to the executive director of the provincial securities commission, Peter Brady, who warned investors to be careful because, sometimes, there is nothing the regulator can do.

Then I talked to a 62-year-old technology illiterate named Keith who reached out because he needed someone to help him buy bitcoin, face to face. I later learned someone I know had already tried to help him, with little success. If Keith had contacted someone malicious and there are many he could have easily been led into something shady and ended up with no recourse.

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Those two conversations are jarring when juxtaposed and underscore a growing problem, particularly in the West. In just over a month, the B.C. Securities Commission has issued three statements on separate cryptocurrency matters, including an announcement of an active investigation, a departure from usual practice.

Therein lies a quagmire: What do you do when the sector is hard to police, but shady operations are easy to set up and the world is filled with clueless victims? A heavy hand is bad for innovation, but so is lawlessness. And innovation, believe it or not, is something in which Canada had a head start. It would be a travesty to see it eroded by the Wild West.

Cryptocurrency has become its own multibillion-dollar industry and enriched many, and its barely 10 years old. Everyone in it, even the most knowledgeable, had come from somewhere else. It is a land of new beginnings, where anyone can rise high. But that frontier also attracts the uninitiated, seeking fast riches and the snake-oil salesmen and slipshod wildcatters seeking the same.

The scene is particularly rife in the coastal British Columbia, home to the worlds first bitcoin ABM, the first registered cryptocurrency investment firm in the country and numerous listed blockchain companies. The sector has an oversized presence there, with great potential. But that also amplifies the bad actors.

The B.C. commissions first statement warned about two products that used the cryptocurrency name, but resemble a pyramid scheme. Two other statements came on the same day this month, about the trading platforms ezBtc and Einstein Exchange, accused of owing millions to users. Those bring to mind the collapsed QuadrigaCX, also from Vancouver, whose users claim more than $200-million.

There is no solution in sight. There are new rules proposed, but they deal only with exchanges and are crafted by securities regulators with complicated requirements. Observers have questioned whether it is even their business, given bitcoin is widely considered to not be a security. Some say the rules are so onerous, they will chase exchanges away.

Self-regulation has long been talked about. But if there was the will, it would have happened already. Cryptocurrency has a sharp individualistic bent and the community has rarely agreed on anything.

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In that vacuum come bandits and charlatans and the wrong sort of attention that ripples. It affects the programmer who hesitates when considering blockchain work. It affects the bank that refuses accounts to cryptocurrency businesses. It affects the misguided city that considered banning bitcoin ABMs.

Outside cryptocurrency circles, many do not know and inside, many forget that the biggest players in the sector have strong Canadian roots. Ethereums ether, the second-most valuable cryptocurrency, was started by a Torontonian. Binance, the worlds biggest exchange, was founded by a Vancouverite.

Neither has a significant presence in Canada, with Binance never having had any to begin with. That is not directly because of the lawlessness, whose symptoms only recently showed to the wider public. But the resulting disrepute, unnecessary and undeserved, stands in the way of what would keep future Ethereums and Binances in this country.

Canada has all the potential to be the leading hub for cryptocurrency and blockchain, its name invoked in the same way Switzerland is for watches. The powers that have the ability to make it so, to craft permissive policies. But when all they see is scandal and turmoil, they question whether it is worth the trouble.

It may be chicken-and-egg. While exchanges serving Canadians may be tied to the land, cryptocurrency itself is borderless. Do firms flee because there are no permissive policies? Or are there no policies because firms have fled?

Whatever the case, the path to more innovation begins with the disparate parties coming together to pay some serious attention to this space and the cleansing of a temple that, to many outside, has been flushed thick with the scent of thieves.

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It begins in the Wild, Wild West.

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Cryptocurrency policies must combat snake oil without stifling innovation - The Globe and Mail