Tag: BlockchainBased

Korea’s Oldest Bank Launches National Blockchain-Based Loan Platform

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Korea’s oldest bank, Shinhan Bank, has launched a blockchain-enabled lending platform to speed up the loan process, South Korean news agency Yonhap reports on May 27. Shinhan Bank’s blockchain-powered loan system intends to boost cost and time efficiencies in the lending process, reportedly enabling the public to apply for loans online and get their credits without face-to-face interaction. According to the report, the new system is the first initiative of its kind introduced in South Korea. Specifically, Shinhan Bank’s new lending system applies blockchain technology in the verification and confirmation…

Toyota, UTokyo and Trende to Test Blockchain-Based Electricity Trading System

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The University of Tokyo, Japanese car manufacturer Toyota Motor Corporation and Japanese online renewable energy retailer Trende Inc. plan to jointly conduct tests for a blockchain-powered electricity system. The news was revealed in an official Toyota press release on May 23. The pilot, scheduled for June 17, will reportedly test a peer-to-peer electricity system that allows homes, enterprises and electronic vehicles that are connected to the power grid to trade electricity using blockchain. The initiative will reportedly be focused on Toyota’s Higashifuji Technical Center and the surrounding area. As the…

Zimbabwe Stock Exchange Eyes Blockchain-Based Products, Needs Regulatory Clarity

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Zimbabwe Stock Exchange (ZSE) chief executive Justin Bgoni says ZSE is interested in adopting blockchain technology if regulatory certainty can be achieved, according to a report by local news daily The Chronicle on May 20 Bgoni, while in favor of blockchain technology, is waiting to apply blockchain technology at ZSE until regulatory certainty issues have been resolved: “Then there is the money side to blockchain technology. This is a bit difficult, in terms of regulation, we are not yet clear on this and we do not want to do something…

Three French Banks Join R3 Corda Blockchain-Based Loans Platform

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British financial software firm Finastra has signed three global banks on its R3 Corda blockchain-based syndicated loans platform, the firm officially announced on May 14. France-based banking institutions BNP Paribas, Natixis, and Societe Generale have officially joined Finastra’s syndicated lending platform Fusion LenderComm, following previous pilots back in 2017. Based on blockchain consortium R3’s open source blockchain platform Corda Enterprise, Finastra’s Fusion LenderComm reportedly enables banks to instantly share credit agreements, accrual balances and position data to lenders. Cécile Bartenieff, Chief Operating Officer of Global Banking and Investor Solutions at…

KaratGold Coin’s (KBC) Blockchain-Based Smartphone and Software for Online Vendors Changes the Concept of Crypto Payments

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Tokens and coins whose value is not backed by anything other than marketing, no longer work. Therefore we are able to witness the advent of several asset-backed tokens, that combine historically successful assets with the blockchain technology. Precious metals – especially gold due to its qualities and stable demand – are ideal for securing digital assets attached to them. Despite this, until now few have managed to move from theory to practice and release a really working coin underpinned by gold. The situation has changed dramatically for the better with…

Malta’s Registry of Companies Set to Run on Blockchain-Based System

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Malta’s Registry of Companies is going to be run on a blockchain-powered system, local news outlet the Malta Independent reported on May 8. The Registry of Companies is a public registry holding official information and documentation pertaining to new and existing companies. The agency demerged from the Malta Financial Services Authority’s (MFSA) and established itself as a separate entity at the end of last year. According to the Malta Independent, the new agency will be run on a blockchain-based system. The establishment of a standalone agency aims to strengthen the…

Sprott CEO Predicts Bullish Future for Blockchain-Based Digital Gold

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Peter Grosskopf, CEO of the global asset manager Sprott, has posited that blockchain technology will make gold a more valuable and practical asset, according to an interview with Kitco News on May 7. Regarding the day-to-day usability of gold — and how blockchain improves the situation — Grosskopf remarks: “I think it was quite realistic to criticize gold because you weren’t gonna go to a gas station and pay for your fill-up with gold coins. But now, when gold can be digitized, put on the blockchain — moved around very…

Starbucks Working With Microsoft for Blockchain-Based Coffee Tracking Platform

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United States-based coffee chain Starbucks will implement tech giant Microsoft’s Azure Blockchain Service to track coffee production, tech news site GeekWire reports on May 6. Starbucks first announced its “bean to cup” initiative in 2018, stating that it would work with farmers in Costa Rica, Colombia, and Rwanda to pilot a blockchain-based coffee-tracking system. The system will purportedly allow customers to track the production of their coffee and will open up potential financial opportunities for coffee bean farmers on the backend. Starbucks further noted that they would open source the…

Ecuadorian Shrimp Producers Join IBM’s Blockchain-Based Food Trust Ecosystem

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The Ecuador-based Sustainable Shrimp Partnership (SSP) is joining IBM’s Food Trust Ecosystem, using IBM’s blockchain technology to ensure the quality of SSP shrimp products, according to a press release on May 6. By joining the Food Trust Ecosystem, retailers and consumers will have access to production and development data on the SSP shrimp products. Director of SSP Pamela Nath said: “Our aim is to have SSP premium quality shrimp in supermarkets and on menus where the consumer can scan the QR code and find out which farm it is from,…

IMF Launches Private Blockchain-Based ‘Crypto’ After Bashing Bitcoin

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Private blockchains seem to be all the rage as of late. Mere weeks ago, JP Morgan Chase launched a private version of crypto network Ethereum, Quorum, to support the fittingly-titled “JPM Coin.” And over the past year or longer, technology heavyweight IBM has built an array of ‘decentralized’ ledgers for corporations with Stellar’s technology. The International Monetary Fund (IMF) and the World Bank are purportedly joining the bandwagon with a newfangled venture. The funny thing is, though, the IMF’s chairwoman, Christine Lagarde, bashed traditional digital assets, primarily Bitcoin, just the…