Tag: BlockchainBased

Air Canada to Integrate Blockchain-Based Travel Distribution Platform

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Canada’s largest airline Air Canada has announced its participation on a blockchain-based travel distribution platform developed by Swiss blockchain startup Winding Tree, according to a press release published Oct. 24. Air Canada was established in 1937 and provides scheduled and charter passengers and cargo air transportation. In 2017, Air Canada carried 48.1 million passengers, with an increase by 7.3 percent compared with 2016, per the company’s 2017 annual report. Air Canada has signed a letter of intent to participate in a decentralized open-source travel distribution platform developed by blockchain travel…

Visa Set to Launch Blockchain-Based Digital Identity System with IBM in Q1 2019

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Visa is readying its blockchain-based digital identity system for cross-border payments for launch in the first quarter of 2019, according to a press release published October 21. The system, dubbed Visa B2B Connect, will provide a blockchain-based digital identity solution for financial institutions to securely process cross-border payments. The system reportedly tokenizes sensitive business data – such as banking details and account numbers – granting them a unique cryptographic identifier that will be used for transactions on the platform. Kevin Phalen, global head at Visa Business Solutions, suggests that the…

Project Launches New Blockchain-based Marketplace

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A project called Nasdacoin is planning to open a new online marketplace where users can buy and sell products, as well as services to each other, directly using the company’s cryptocurrency as a payment method. The new multilateral platform is to be launched on Oct. 30, 2018, when the final testing is completed. The platform features will include geolocation, which means it will display ads for the services that are relative to where the user is located. The team has also decided to integrate blockchain technology with gambling. The company…

China’s Internet Watchdog Issues Draft Regulations for Blockchain-Based Info Services

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China’s top-level internet watchdog, the Cyberspace Administration of China (CAC), published new draft regulations for blockchain-based information service providers Oct. 19. The draft, open for public consultation until Nov. 2, proposes twenty three articles for the regulation of all companies or entities providing blockchain-based information services to the Chinese public. Under the proposed rules, all such entities would be required to register with the CAC within ten days of launching their platforms. The regulations would also require service providers to censor content that is deemed to pose a threat to…

Natwest Bank Launches R3 Corda Blockchain-Based Syndicated Lending Platform

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U.K.-based bank Natwest will integrate a new blockchain platform based on R3 Corda technology for use in the syndicated loans market, financial news platform Mondovisione reports today, October 18. The new platform, dubbed “Fusion LenderComm,” was developed by blockchain consortium R3 and fintech enterprise Finastra, and aims to streamline the global market for syndicated loans — loans whose size or degree of risk means that more than one lender underwrites them, as part of a “syndicate” of two or more financial institutions. Natwest’s move comes roughly a year after a…

Canadian Firm to Build Blockchain-Based Supply Chain Platform for Cannabis Industry

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Canada-based blockchain and crypto company DMG Blockchain Solutions Inc. (DMG) has announced the development of a global supply chain management platform for the legal cannabis industry, according to an announcement published Oct. 17. As reported by Canada’s national public news and information service CBC, the country’s government officially legalized recreational marijuana as of today. Cannabis was previously available only for medicinal use within the country. According to Health Canada, there are currently over 120 licensed cannabis producers in Canada, where one of the top producers has already stated that labor…

Russian Startup to Create Blockchain-Based Copyright Network in Uzbek Capital

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A Russian intellectual property startup has signed a memorandum with officials from Uzbek capital Tashkent to integrate blockchain for use in copyright, Russian state news agency TASS reports Tuesday, Oct. 16. The president of the Russian National Intellectual Property Transactions Coordination Center (IPChain), Andrey Krichevsky, met the head of Tashkent’s department of innovations Jasur Zakhidov during the Open Innovations Forum in Moscow. Both parties agreed to implement decentralized solutions to protect copyrights in different areas, such as intellectual property and patent records. Zakhidov further explained that blockchain could help develop…

Sony Develops Blockchain-Based Rights Management System for Digital Content

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Sony Corporation has announced the launch of a blockchain-based digital rights management system. In a statement released on its website, the company revealed that the new framework is built on a prior system for authenticating, sharing, and managing rights to educational data previously developed by Sony and Sony Global Education. In April, CCN reported that Sony filed an application for a patent to store users’ digital rights data on the blockchain. In its patent application, Sony warned that “conventional solutions may not be very reliable and rely on one unique point of…

Dubai Becomes World’s First City to Launch Blockchain-Based Digital Currency

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Dubai has launched its own digital currency to allow citizens and residents make digital payments for school fees, bills and retail purchases. The blockchain-based digital currency called emcash will be used by citizens to make retail payments in-store, pay for government utilities, telecommunication, and school fees in government shop fronts, Emcredit, the Dubai’s official credit bureau, said in a statement. Emcredit, a state-backed subsidiary of the Dubai Department of Economic Development, launched the digital currency through a partnership with blockchain payment provider Pundi X and Ebooc Fintech & Loyalty Labs.…

Forbes Partners With Blockchain-Based Journalism Platform to Publish Content

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International business media outlet Forbes has partnered with blockchain-based platform Civil to publish its content on a decentralized network, Civil’s co-founder confirmed on Medium on Tuesday, Oct. 9. According to Civil co-founder Matt Coolidge, Forbes is integrating Civil’s software into its own content management system (CMC). From the beginning of 2019, journalists will be able to upload their data to the Civil network while posting it to the Forbes website simultaneously. Forbes, a U.S. business news outlet founded in 1917, reaches more than 120 million people globally through its main…