Chinese non-profit blockchain consortium FISCO BCOS, reports that blockchain-based health records have successfully enabled China to resume mainland tourism to Macau. From May, Macau’s blockchain-powered medical data system has recognized the ID codes of the Guangdong health system of the mainland, allowing mainland Chinese tourists to verify their health status using the DLT-powered system when entering the autonomous region. To date, more than 17 million tourists have cleared customs between Macau and China’s mainland using Macau’s blockchain health code. The announcement boasts that it takes just 100 seconds for mainland…
Month: October 2020
Nine Chilean cargo shipping companies approved to develop joint blockchain platform
Chile’s National Economic Prosecutor’s Office, or FNE, has granted approval to nine national freight maritime cargo companies to establish a joint venture to develop a blockchain platform, the first of its kind in the region. According to MundoMaritimo.cl, the platform will be named Global Shipping Business Network, or GSBN. It aims to handle all the processes related to maritime cargo such as document issuance and cargo clearance, among other services. The solution is also expected to be offered to other companies in the industry and not just those involved in…
Top DeFi Coins Crater 15% Despite Bitcoin Passing $12,000
It’s been a tough past few days for the DeFi market. Top decentralized finance coins have surprised most of their holders, actually dumping despite a relatively strong performance by Bitcoin. In the past three days, BTC has gained over 5%, surging from $11,300 to $12,000 at the recent highs. Altcoins are not partaking in strong BTC price action for the first time in many months, suggesting to some commentators that a shift has taken place in how crypto investors allocate capital. Related Reading: Here’s Why Ethereum’s DeFi Market May Be…
In China, most blockchain R&D funds are going toward this segment
A report published by Securities Daily explained how China’s publicly-listed companies spend the millions they have allocated toward blockchain R&D. The study surveyed 23 companies in China who began working with blockchain back in 2016. Figures suggest that companies allocate an average 20% of their annual revenues toward such purposes. The majority of these funds are spent to further government-related solutions. The report highlighted that Yuanguang Software, an enterprise software provider, have increased their related research spending by around $24.3 million since 2016. Other companies, such as Xinchen Technology, have actively spent funds…
Bitcoin Shoots Towards $12,000 as Capital Flows Back Into BTC
Bitcoin bulls are back after weeks of consolidation. The leading cryptocurrency thrust higher towards $12,000 on Tuesday morning. The coin now trades just shy of that crucial price resistance at $11,970. The cryptocurrency is expected to move higher in the days ahead as macro trends favor Bitcoin bulls. Bitcoin’s rally comes as altcoins have suffered a retracement, with most dropping a few percent across the board as a weird market dynamic emerges where altcoins seriously underperform BTC. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin…
Bitcoin price nears final hurdle at $12K before bull market euphoria
The price of Bitcoin (BTC) had to hold the crucial support level between $11,100-11,300, and it did. After this support test, the price of BTC continued to surge upward on Oct. 20, reaching the crucial resistance area between $11,900-12,200. This upward move came along with weakness in the dollar, as the U.S. Dollar Currency Index (DXY) dropped substantially. A correlation that’s been effective throughout 2020 already. However, other cryptocurrencies haven’t been following in Bitcoin’s footsteps as altcoins are selling off heavily. Is the attention shifting back to Bitcoin? The weekly…
Kyrgyzstan’s acting president claims blockchain can ensure fair elections
Kyrgyzstan’s acting President and Prime Minister Sadyr Japarov has proposed introducing a blockchain-based system to ensure fair elections in the near future and restore public faith in the democratic process. On Oct. 20, Japarov reportedly told Al-Jazeera television channel reporters that: “We have had three revolutions because of unfair elections. If this continues, the unrest and the revolutions will continue. From now on, everything will be fair. I consulted with the Central Election Commission and offered them to introduce the blockchain technology. This system can be implemented in 3–6 months.” …
An encryption study revealed a surprising fact about blockchain adoption in Mexico
A report called “Encryption Trends in Mexico 2020/2021” surveyed a total of 353 representatives from companies throughout Mexico. The study, published by privacy research center the Ponemon Institute, indicated that 40% of the Mexican companies surveyed were looking to adopt blockchain and cryptocurrencies in some form. Out of this segment, 71% were focused specifically on crypto usage. The figures also showed that 51% of these companies were intent on implementing blockchain for asset management and transaction handling purposes, while 37% expressed an interest in the implementation of smart contracts. Many…
French Finance Minister throws shade at crypto, praises blockchain
French Finance Minister Bruno Le Maire, who once said Facebook’s Libra token would risk the “monetary sovereignty of states,” is continuing his criticism of cryptocurrencies. In an Oct. 19 tweet, Le Maire claimed some cryptocurrencies are associated with purchasing drugs and weapons in addition to being used for money laundering. However, he also wrote that he does not “question the reliability and traceability of all blockchain technology.” Cher @cyrilpaglino, nous ne remettons pas en cause la fiabilité et la traçabilité de toutes les technologies de la blockchain. Mais certaines cryptomonnaies…
This blockchain only needs 22Kb of data to be verified
Mina aspires to be the world’s tiniest blockchain, with claims that its protocol maintains a constant size of around 22 KBs. This is ostensibly achieved by using recursive zk-SNARKs — the same technology that is used by the privacy-centric cryptocurrency, Zcash (ZEC). However, whereas the latter utilizes this technology to provide greater privacy to its users, the former employs it for scalability. A zk-SNARK, which stands for zero-knowledge succinct non-interactive argument of knowledge, allows a party to prove that they have possession of certain information without revealing what that information is. It is…