Tag: BlockchainBased

Largest Indian State to Pilot Blockchain-Based Solar Energy Trading

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The Indian state of Uttar Pradesh (UP) will pilot a peer-to-peer (P2P) solar power trading project in partnership with Australian blockchain energy company Power Ledger. The state power utility UP Power Corporation Limited and UP New and Renewable Energy Development Agency have partnered with Power Ledger to launch a trial of P2P solar energy trading to examine its practicability, according to a Nov. 28 press release. The first phase of the project is set to be completed by March 2020. During the trial, Power Ledger will integrate its blockchain-based platform…

BNY Mellon Officially Joins Blockchain-Based Marco Polo Network

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The Bank of New York Mellon (BNY Mellon) has joined blockchain software firm R3’s trade finance network, the Marco Polo Network. The American banking and financial services firm — which has over $1.9 trillion in assets under management — will conduct an evaluation program using the technology, Marco Polo announced Nov. 25. By joining Marco Polo, BNY Mellon intends to expand its technical expertise and explore how blockchain technology could be applied to its trade finance activities. The move is purportedly in line with BNY Mellon’s efforts to eliminate paper-based…

Thailand Introduces Blockchain-Based Tax Refunds for Oil Exporters

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The Excise Department in Thailand is poised to introduce a new way of refunding overpaid taxes to oil exporters by using blockchain technology. On Nov. 25, director-general Patchara Anuntasilpa told the Bangkok Post that the Thailand Excise Department will change its current tax refund practice by introducing a blockchain-based tax payback system, which it hopes to implement by the middle of 2020. One of three blockchain-based pilots Patchara explained that the future tax payback system will require oil exporters to pay excise tax and claim overpaid taxes after they have…

Bavarian Government to Issue Blockchain-Based Training Certificates

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The Chamber of Industry and Commerce of Munich and Upper Bavaria, Germany, will issue its first blockchain-enabled training certificates next spring in cooperation with the Digital Ministry. In the future, employers will be able to determine whether the certificates are genuine with the help of an electronic key.  Authentication Stamp “Made in Bavaria” According to a press release from Nov. 20 from the Minister of State for Digital Affairs, employers will use an electronic key to verify the authenticity of certificates using blockchain technology.  The Digital Ministry will create a…

FEMA Suggests Blockchain-Based Registry to Improve Disaster Insurance Payouts

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The United States Federal Emergency Management Agency (FEMA) is exploring the idea of a blockchain-based property registry to streamline disaster insurance payouts. In its latest National Advisory Draft Report to the FEMA Administrator, the agency indicated its interest in deploying blockchain technology in order to streamline disaster insurance payouts and improve the speed of disaster responses.  To achieve this, FEMA recommended the establishment of a blockchain-based property and land registry, containing all critical information needed to file an insurance or disaster assistance claim. Cutting the rate of self-insurance for public…

Walmart Canada Rolls Out Blockchain-Based Freight and Payment System

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Walmart Canada — the retail giant’s Canadian branch — has rolled out an automated blockchain-based network for freight tracking and payments management, according to a Nov. 14 press release. The new system, which was developed in collaboration with blockchain company DLT Labs,  is designed to improve freight and payment processing, enabling users to automatically trace deliveries, verify transactions and handle payments and reconciliation. Integration with each company’s legacy systems The release further states that the network can be integrated with a business’s legacy system and “manages, integrates and synchronizes all…

Gaming Rewards Firm Partners With Blockchain-Based Streaming Platform DLive

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United States blockchain-based rewards and marketing company Refereum has announced its latest partnership with decentralized streaming platform DLive to reward gamers for creating and watching content. According to a press release shared with Cointelegraph on Nov. 7, Refereum’s partnership with one of blockchain’s largest streaming platforms, DLive, will enable users to earn rewards for live-streaming games. DLive is reportedly the first blockchain-powered streaming service to join the Refereum platform, alongside Twitch and Mixer. DLive CEO Charles Wayn said: “Bringing benefits to our streamers is always one of DLive team’s priorities.…

Azerbaijan to Adopt Blockchain-Based ID System in 2020

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The Republic of Azerbaijan is planning to complete a project of blockchain-based digital identification system by the end of 2019. Farid Osmanov, director of the information technology department at the Central Bank of Azerbaijan (CBA), says that the new system will be adopted in the first quarter of 2020, local news agency Trend News reported on Nov. 6. “Transition of the CBA to open banking” According to the report, the CBA executive introduced the plans speaking at the fourth International Banking Forum. Osmanov reportedly highlighted the system’s prospects in terms…

Oxfam’s Blockchain-Based Agricultural Insurance Pays Farmers in Sri Lanka

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The United Kingdom-based charity organization Oxfam International announced the success of its blockchain-based delivery system of microinsurance to paddy field farmers in Sri Lanka. In a Nov. 4 press release, Etherisc announced that Oxfam’s blockchain-based insurance system had made pay-outs to Sri Lankan farmers who continue to risk losing their crops due to extreme weather events. Blockchain reduces costs and increases pay-outs Oxfam in Sri Lanka, together with its partners Etherisc and Aon plc, will now continue to seek solutions to some of the challenges that will present themselves as…