Tag: BlockchainBased

Japanese firm Layer X Labs develops blockchain-based e-voting protocol

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Japanese firm Layer X has announced the development of an electronic voting system based on a blockchain protocol as part of a wider “smart city” initiative being pursued by Tsukuba City. The Tokyo-based company said that the new system will meet the technical needs of electronic voting, including the prevention of double voting, accurate storage of voting content, voter confidentiality, and management of operation records. In addition, it will enable voters to check their own voting results, providing the cryptographic ability to verify that the recording and aggregation processes for…

Banco Santander and Other Spanish Banks Promote Blockchain-based Digital ID Technology

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Ten banks have joined to build a self-managed digital identity system using blockchain technology thereby giving users higher control over their data. On Thursday, November 5, Spanish banking giant Banco Santander along with top-ten leading banks unveiled a self-managed digital identity (ID) model based on blockchain technology. The project dubbed Dalion successfully completed the concept test and proceeded for the second round of development. Also, as per the current estimates, the project is likely to go live by May 2021. The blockchain-based identity system will give users better control over…

Blockchain-Based Voting Could Solve Trump and Biden Presidential Election Dispute

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There were a record number of voters who have already cast their ballots in the 2020 US presidential election cycle by means of mail or in-person absentee. Following the most complex voting process came chaos and disputes, especially caused by the lengthy duration mail votes have taken. Every state has different rules for mail-in voting. On Nov. 3, Trump took a lead in most swing states, however, a day later, Biden’s votes caught up in Wisconsin and Michigan, eventually flipping both of the states. Pennsylvania, Arizona, Nevada, and even Georgia could also…

ASX Delays Blockchain-Based CHESS Replacement to April 2023

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The Australian Securities Exchange (ASX) announced the new go-live date for the CHESS replacement system will be pushed to April 2023, delaying the launch by one year, due to replacement scope increasing and the impact of COVID-19. The announcement says: “While most CHESS users indicated they could meet the proposed go-live date of April 2022, many asked for extra industry testing, more time to prepare for the new system, and additional functionality that reduces manual processes (such as electronic corporate action elections) to be delivered as soon as possible.” On…

IOTA joins Japanese gov’t on blockchain-based maintenance project

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The IOTA Foundation, a non-profit organization behind the IOTA blockchain, is collaborating with Japan’s government on a project targeting industrial infrastructure. The foundation has partnered on a project initiated by major Japanese maintenance companies, Best Materia and IMC, IOTA representatives announced on Oct. 27. The project is funded by the New Energy and Industrial Technology Development Organization, a national research and development agency operating under Japan’s Ministry of Economy, Trade and Industry. According to an announcement, the initiative intends to implement artificial intelligence and distributed ledger technology to risk-based maintenance…

US Department of Homeland Security to Host Blockchain-Based Digital Wallet Event with $25K Reward

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According to an announcement by the US Department of Homeland Security (DHS) shared with Blockchain.News, DHS Science and Technology Directorate (S&T) and Silicon Valley Innovation Program (SVIP) will be hosting a virtual event for a Digital Wallets Challenge on Oct 27. The Digital Wallets Challenge has a total prize of $25,000 that will be awarded in two stages. There will be 3 finalists at the end of Stage 1 who will be awarded $5,000 each. One top winner of the three Stage 1 finalists will be rewarded an additional $10,000.…

Commodity trading gets sweeter with blockchain-based sugar exchange

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The world’s largest sugar refinery, Al Khaleej Sugar, officially announced the application of blockchain technology in its recently launched sugar trading platform, DigitalSugar.io. Users of the UAE-based platform will trade the spot price of sugar via tokens tied to “up to 100,000 tonnes of raw sugar,” with its peg assured by the Universa blockchain who will be issuing electronic warrants of ownership with the tokens. Traders will be able to hold tokens representing between 1 kg to 1M tonnes, and will pay .4% in exchange fees as well as a 2.5%…

Blockchain-Based Trading System Steps Closer to ASX Access

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National Stock Exchange of Australia (NSX), a stock exchange company that has built a distributed ledger technology-based trading system, says it has cleared initial hurdles and is just a step away from being permitted to connect to the Australian Securities Exchange (ASX). NSX announced Tuesday that its DLT-based Digital Exchange Subregister System (DESS), part of the ClearPay platform, was approved by the Australian Council of Financial Regulators at its October meeting. It is now working with the Australian Securities and Investments Commission on finalizing the application process and date it…

Japanese payments firm JCB and Mizuho Bank test blockchain-based ID

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Major financial institutions in Japan are moving into blockchain to streamline digital identity systems. Japan’s third-largest bank, Mizuho Bank, and local payment giant JCB are preparing to pilot a digital identity interoperability system based on blockchain technology. The new system will utilize a blockchain solution developed by Fujitsu Laboratories, Fujitsu announced on Oct. 15. The new joint initiative will allow the companies to verify mechanisms to securely transfer and link member ID information by multiple business operators. This data includes names, addresses and employers stored on a cloud platform built…

Blockchain-Based Game Chainmonsters Taps Into Flow Blockchain

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Explaining the choice of the Flow blockchain as the backbone of its project, Max Weber, the CEO of B-Side Games, praised the consumer and developer-centric nature of Flow. Chainmonsters, a blockchain-based game created by B-Side Games has tapped into the scalable power of the Flow blockchain. This move comes ahead of its Kickstarter Campaign scheduled to begin on October 20th. Blockchain-based games are becoming commonplace in the crypto sphere as of today and most with the ultimate goal of attaining mass adoption. In addition to the adoption drive, global integration…