Tag: BlockchainBased

More Oil Giants to Join Blockchain-Based Platform Vakt for Energy Commodity Trading

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Chevron, one of largest American multinational energy corporations, and two other major energy companies have joined Vakt, a United Kingdom-based blockchain platform for energy commodity trading. Reuters reported on the development on Jan. 16. Along with Chevron, Total, a leading French multinational integrated oil and gas company, and major Indian refiner Reliance Industries have become members of the Vakt platform. The article stresses that the agreement is a step towards quicker and safer logistical operations. The Vakt platform, backed by JPMorgan’s Quorum blockchain technology, aims to become a digital transaction…

Bitfury Enters Music Industry With Blockchain-Based Open Source Platform Launch

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Blockchain and Bitcoin mining manufacturer Bitfury announced the launch of a dedicated venture to open source the music industry in a blog post on Jan. 16. The spin-off, dubbed Bitfury Surround, aims to tackle the complex and often unfairly proportioned flows of revenue between artists, fans and middlemen using blockchain technology. The post explains, “The Surround platform will enable the entire music entertainment industry to streamline operations through secure transfer of copyright assets, streamlined connectivity as well as better monitoring and management systems. Surround marks Bitfury’s ongoing expansion into various…

Draper Associates Leads $5 Million Funding Round for Blockchain-Based ID Platform

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Iceland’s blockchain-based identity verification platform Authenteq has raised $5 million in a funding round led by Draper Associates and Capital300, the American tech website VentureBeat reports on Jan. 14. Following the two-week funding round, the company revealed its intention to conduct the second closing of the Series A financing for additional investors in the coming weeks. The latest $5 million closing was held on Jan. 10, while the total amount raised constitutes $7 million over seven rounds since 2015, according to business data provider Crunchbase. Authenteq funding rounds and key…

Pakistan’s First Blockchain-Based Remittance Service Launched Using Alipay’s Technology

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A Pakistani financial institution has rolled out a cross-border remittance service based on blockchain technology developed by Alibaba affiliate, Alipay. Telenor Microfinance Bank and Malaysian fintech firm Valyou have partnered to offer the service to that will operate between Malaysia and Pakistan. The service is expected to enhance the efficiency and speed of remittances from the former to the latter. Additionally, Pakistan’s first blockchain-based remittance service will eliminate intermediary costs making it cheaper to send money. Users will also be able to track the remittances at ‘every step of the…

ConsenSys and AMD to Jointly Develop Blockchain-Based Cloud Computing Infrastructure

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Blockchain software company ConsenSys, semiconductor producer AMD, and Abu-Dhabi-based investment management firm Halo Holdings are jointly working on a blockchain-based cloud computing infrastructure. ConsenSys announced the collaboration in a press release published on Jan. 4. Per the release, the companies have partnered to create the so called W3BCLOUD aimed at the development of AMD hardware-based datacenter products for emerging blockchain workloads. Within the collaboration, ConsenSys will provide expertise in the field of computing in blockchain transactions, security issues, and use cases for the technology. According to the statement, W3BCLOUD would…

UN Partnership to Roll Out Blockchain-Based Telemedicine, Telepsychology in East Africa

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The United Nations Office on Drugs and Crime (UNODC) will reportedly partner with blockchain-based telemedicine and telepsychology firm doc.com to expand free basic healthcare services across Eastern Africa. News of the partnership was shared with Cointelegraph in an email on Dec. 26. In an officially sealed letter signed on Dec. 20 by Amado Philip de Andres, Regional Representative for UNODC’s Regional Office for Eastern Africa (ROEA), de Andres wrote that the organization is “willing to cooperate […] in a new partnership.” Doc.com is a tech firm that offers blockchain-based 24/7…

This Wyoming County Is Creating Blockchain-Based Land Records Platform

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Grand Teton National Park/Jeff Gunn/Flickr/cc Overstock.com (NASDAQ:OSTK) blockchain subsidiary Medici Land Governance has agreed to build a blockchain-based land records and information platform for a Wyoming country. Medici Land, which focuses on land administration, has signed a memorandum of understanding with Teton County to develop the blockchain-based platform in 2019. Blockchain-Powered Property and Land Information Platform Under the terms of the agreement, both parties will work together to develop and implement the software needed for the county, which includes the town of Jackson, to transfer and display information from its…

Lancor Scientific Links Use of a Digital Token to Global Blockchain-based Cancer Screening Registry

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Lancor Scientific, an early detection cancer screening start-up, has validated an integrated cancer screening system that will provide users with a seamless journey, using its digital token. London-based Lancor Scientific has tested and linked the use of its smart-contract-driven Medici token, to its global blockchain-based cancer registry – the Lancor Blockchain Platform (LBP). advertisement For the first time, people from all over the world will be able to use Lancor Scientific’s dedicated Medici token, not only to book, but also pay, conduct and review their cancer screening tests, taking ownership…

PayPal Launches Blockchain-Based Innovation Reward System for Employees

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Major global online payments system PayPal has launched a blockchain-based reward system for its employees. Financial news channel Cheddar reported on the platform launch Thursday, Dec. 6, citing PayPal’s director of innovation Michael Todasco. According to Cheddar, the program was prepared by PayPal’s innovation team, which is based in San Jose, California, over a six-month period and was launched in mid-November. Employees using the program are granted tokens for participating in innovation-related programs and contributing ideas. These tokens are only valid within PayPal and can be traded among the participants…

EU Report Considers Blockchain-Based Digital Identities, Tokenized National Currencies

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In its latest report released on Dec. 7, the European Union Blockchain Observatory and Forum (EUBOF) made a case for a blockchain-based digital identity system and digital versions of national currencies. The report was prepared by blockchain software technology firm ConsenSys AG on behalf of the EUBOF, and focuses on the analysis of what blockchain properties could be beneficial and advantageous for governments. The EUBOF suggests that governments should develop “user-controlled, ‘self-sovereign’ identity capabilities” to create secure, private, unique and verifiable identities, that can provide sufficient proof of identity without…