Tag: BlockchainBased

Blockchain-Based Exchanges Will Replace Traditional Ones in 10 Years

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Digital exchanges based on blockchain technology will completely replace traditional ones in ten years, Thomas Zeeb of Swiss leading stock exchange SIX told Reuters Wednesday, Nov. 14. “The existing system could be completely replaced by the digital exchange in about 10 years,” said Zeeb, who is leading securities and exchanges department at SIX. “The moment that brokers, banks, insurance companies and big asset managers really see the cost advantages [of blockchain], they’ll move relatively quickly,” he further added. Zeeb talked to Reuters in the wake of the launch of SIX’s…

Australia’s Biggest Bank Trials Blockchain-Based ‘Smart Money’ for Disability Insurance

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The Commonwealth Bank of Australia (CBA) and government-run digital innovation center Data61 have released the results of their trial for a blockchain-powered “smart money” system for Australia’s National Disability Insurance Scheme (NDIS). The development was reported by local financial and business news platform Business Insider Australia today, Nov. 13. Data61 is a digital innovation hub that forms part of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) — an Australian government corporate entity that undertakes scientific research to advance diverse local industries. The $93.5 billion market cap CBA is the…

IBM and Seagate Launch Blockchain-Based System to Fight Counterfeit Hard Drives

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IBM and data storage firm Seagate have announced a joint initiative to fight counterfeit hard drives using blockchain technology, according to a press release shared with Cointelegraph Nov. 8. The project will reportedly use IBM’s Blockchain Platform to help manufacturers, integrators, and business partners better authenticate the provenance of hard disk drives. IBM and Seagate’s solution will work by updating the IBM Blockchain Platform on the IBM Cloud with product authentication data based on Seagate’s security solution Seagate Secure Electronic ID (eID), the latter of which creates a unique identifier…

BBVA Leads Blockchain-Based Syndicated Loan of $150 Million with BNP Paribas and MUFG

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Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), has carried out a blockchain-based syndicated loan of $150 million, U.K.-based global financial news agency Finextra reports Wednesday, Nov. 7. The syndicated bank transaction has been conducted on a private blockchain network through a group of three funding banks including French banking group BNP Paribas, Japan’s bank holding Mitsubishi UFJ Financial Group (MUFG), and BBVA. Acting as the sole underwriter of the transaction, BBVA also secured the participation of a partly state-owned Spanish company Red Eléctrica de España, as well as…

VeChain, Chinese Energy Firms Partner to Build Blockchain-Based LNG Solution

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LNG Carrier /Flickr Singapore based blockchain firm VeChain has formed a partnership with two Chinese energy companies to build a liquefied natural gas (LNG) management solution using blockchain. At the China International Gas & Heating Technology and Equipment Exhibition 2018 hosted by the China Gas Association, it was revealed that ENN Energy Holdings and Shanghai Gas will use the blockchain technology to develop an LNG management solution in bid to streamline the supply chain data in the energy and gas industry. Partnership To Use VeChainThor Blockchain As part of the…

Nexign & Bubbletone To Develop Blockchain-Based Business Support System

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Nexign & Bubbletone recently joined hands to develop first blockchain-based business support system (BSS) solution for the telecommunication industry. Together the two companies aspire to build a global marketplace for the telecom sector so that the operators in the field can use blockchain to collaborate. With the help of teamwork, they can individually determine volumes and qualities they can offer to the end users. It is an option that never existed before. New Business Support System to Facilitate Seamless and Secure Exchange The new business support system developed by Nexign…

IBM Files Patent for Blockchain-Based AR Helper System

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Twitter Facebook LinkedIn IBM has filed a patent for a blockchain-based system which will prevent players of augmented reality games entering physical spaces that are undesirable. They cite as examples “high-risk locations, culturally sensitive locations, locations marked by property owners.” Augmented reality is a technology which adds layers to physical reality. An example is Zombie GO, an AR game which places zombie in real life or perhaps the most famous example, Pokemon Go. AR can have other applications than games, however, such as displaying historical views of locations. The aim…

Major Utility Company Launches Blockchain-Based Solar Energy Marketplace

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SP Group, a major corporation providing electricity and gas transmission in Singapore, has launched a blockchain-powered renewable energy certificate (REC) marketplace, the company reveals in a press release Monday, Oct. 29. The platform was unveiled at the ASEAN Energy Business Forum held in Singapore this week. The press release notes that SP Group plans to use blockchain to help the company increase transparency and efficiency. Samuel Tan, chief digital officer of the corporation, further explained: “Through blockchain technology, we enable companies to trade in renewable energy certificates conveniently, seamlessly and…

Binance Introduces Blockchain-Based Donation Website at UN Conference

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The Blockchain Charity Foundation (BCF), a social project of the world’s largest crypto exchange Binance, has introduced its blockchain-powered donation platform, Binance Blog revealed Friday, Oct. 26. The donation project was announced Wednesday, Oct. 24, during the World Investment Forum organized by the U.N. Conference on Trade and Development (UNCTAD) in Geneva, Switzerland. At the forum, Binance CEO Changpeng Zhao — also known as CZ —  took part in the Blockchains for Sustainable Development session. He said that Binance will cover all operational fees on the new BCF blockchain charity…

Oracle Releases Suite of Blockchain-Based Software for Supply Chain Management

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Software development company Oracle Corp. has released a suite of blockchain-based software-as-a-service (SaaS) applications based on its Oracle Blockchain Cloud Service, according to an announcement published Oct. 23. The new product is purportedly designed to improve traceability and transparency throughout supply chains. Oracle is an American corporation founded in 1977, and currently is one of the largest vendors in the business software market. With total revenues of $39.8 billion in 2018, Oracle is the second largest software development company according to the Global 2000 2018 Forbes list. The new product…