Category: Blockchain

HSBC Undertakes Blockchain-based Trade Finance Transacntion for Automotive Sector in the Middle East

Through the Contour platform, HSBC conducted a blockchain-based trade finance transaction between SAIC Motor, a Chinese car manufacturer and Taajeer Group, the exclusive agent for MG cars in Saudi Arabia.  With the help of blockchain technology, it would significantly increase the speed of dealing with paperwork. HSBC noted that by using distributed ledger technology has the potential to revamp the trade finance sector by slashing transaction times to less than 24 hours from the present five to ten days. Per the announcement: “The Contour platform enabled end-to-end digitisation of the…

GRNGrid secures 50 million USD investment Commitment from GEM Digital – Blockchain News, Opinion, TV and Jobs

The GRN Association, a Swiss-based NPO (non-profit organization), announced today that it has secured an investment totaling $50M for the GRNGrid project from GEM Digital Limited, a venture capital focused on digital currencies. On GRNGrid, an environmentally friendly, scalable, and stable Layer 1 blockchain, with novel DeFi features, users have the choice to only use nodes running exclusively on renewable energy for their transactions. GRNGrid’s renewable energy partners, who specialize in data center and hosting facilities, have shown keen interest in running Grid’s nodes as validators. With their help, the…

Blockchain Association calls White House’s crypto framework a ‘missed opportunity’

Members of the crypto space and advocacy groups reacted to United States President Joe Biden’s administration releasing a regulatory framework on digital assets, with many suggesting the White House focused on the potential negative aspects of crypto. In a Friday announcement, the White House said that federal agencies and departments had submitted nine reports as required by Biden’s executive order on crypto from March. Among the information in the fact sheet included policy objectives for a U.S. central bank digital currency, ways to mitigate the possible impact of crypto’s energy…

Cardano Blockchain to Stimulate Authenticity and Quality of Georgian Wine

To boost Georgia’s global reputation as a leading wine producer, the Cardano Foundation has partnered with the nation’s wine agency to create a public and flexible trace solution powered by the Cardano blockchain. In a statement, the Cardano Foundation disclosed that the partnership with the Bolnisi Winemakers Association and Scantrust and Georgia’s National Wine Agency would enhance the quality and authenticity of the nation’s wine. Mel McCann, Cardano Foundation’s vice president of engineering, noted: “This collaboration will develop a creative, cost-effective, and flexible certification and traceability system, which will…

Ethereum may now be more vulnerable to censorship — Blockchain analyst

Ethereum’s upgrade to proof-of-stake (PoS) may make it more vulnerable to government intervention and censorship, according to the lead investigator of Merkle Science.  Speaking to Cointelegraph following the Ethereum Merge, Coby Morgan, a former FBI analyst, and the Lead Investigator for crypto compliance and forensic firm Merkle Science expressed his thoughts on some of the risks posed by Ethereum’s transition to PoS. While centralization issues have been broadly discussed leading up to The Merge, Moran suggested the prohibitive cost of becoming a validator could result in the consolidation of validator…

La fusión de Ethereum ya es un hecho y abre una nueva era para la segunda blockchain más grande

Edgington, quien comenzó su carrera investigando el clima antes de aterrizar en el mundo de las criptomonedas, entendió por qué su hija pensaba eso. “Con razón o no, ella absorbió una narrativa ambiental muy tóxica”, comentó. “Quiero decir: es un poco difícil defender ‘stickers para adultos’ que emiten, según algunas estimaciones, un megatón de [dióxido de carbono] a la semana”. Source link

SWIFT Payment System Embraces Blockchain Technology

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is making a targeted move to integrate blockchain technology in a bid to drive efficiency in some of its international financial operations. As reported by Bloomberg, citing a post from the body, the payment enhancement will be in collaboration with Symbiont Inc, a blockchain startup with innovative fintech solutions. The SWIFT blockchain pursuit will be used to create “efficiencies in communicating significant corporate events,” like dividend payments and mergers, SWIFT said in its post. SWIFT presents one of the most robust financial…

The Merge is Coming – What are The Green Benefits? – Blockchain News, Opinion, TV and Jobs

The Merge, which will see Ethereum move into a new era, leaving behind one consensus mechanism and beginning another, could not have come at a better time. Energy prices are soaring, the news about a warming earth is alarming, and the calls for energy reduction and greener solutions are growing louder each day. The stakes for the planet and its inhabitants are huge. Ethereum was an energy inefficient network from day one, due to the old security system called proof-of-work, a system in which so called ”miners” gain the right…

BNB Chain to collab with Google Cloud to bolster Web3, blockchain startups

Binance’s smart contract blockchain platform BNB Chain has partnered with Google Cloud to bolster Web3 and blockchain startups. Startups that are currently building products and services on the BNB Chain blockchain will also be able to build on Google Cloud’s scalable, secure and open source infrastructure. This will see over 1,300 active, BNB Chain-based decentralized applications (DApps) from the world of decentralized finance (DeFi), Metaverse, blockchain games and nonfungible tokens given access to the tools and infrastructure provided by both platforms. These projects will also be able to make use…