Tag: BlockchainBased

JPMorgan Collaborates with Indian Banks to Launch Blockchain-Based Dollar Settlement System, Reported Bloomberg

JPMorgan Chase & Co., the American multinational investment bank, has formed an alliance with six Indian banks to inaugurate a blockchain-based platform that will handle interbank dollar transactions within India’s emerging International Financial Centre. This development, initially reported by Bloomberg, showcases the evolving landscape of financial technology (fintech) in India. Kaustubh Kulkarni, JPMorgan’s Senior Officer in charge of Indian operations and Vice Chairman for the Asia-Pacific region, indicated that the project would enter a pilot phase in the upcoming months. This period is crucial for gauging the experience and adaptability…

California approves blockchain-based digital wallet for gov’t services

The county of Santa Cruz in northern California is one of the latest to adopt and implement the usage of blockchain-based solutions on a governmental level.  In a meeting of the Board of Supervisors for the County of Santa Cruz held on April 25, the members unanimously decided to go forward with implementing the usage of digital wallets, for government services and official documentation purposes. According to the final consensus of the meeting, the white-label digital wallet powered by HUMBL will launch a 3-stage pilot program starting in July 2023.…

Social Media App MeWe to Bring Blockchain-Based Identities to 20 million Users Via Frequency

Frequency is a parachain of the Polkadot blockchain, meaning it sets its own rules and follows its own logic but is compatible with the main Polkadot chain as well as other parachains. Parachains pay a comprehensive lease to Polkadot, often with funds gathered from their communities, instead of a fee for each block. This boosts the system’s scalability and stability, according to Frequency. As such, the Frequency blockchain can handle a lot of throughput, needed for social media applications. Source AppBlockchainbasedBringFrequencyidentitiesmediaMeWeMillionsocialUsers CryptoX Portal

Jelurida and Aumenta Solutions Develop Blockchain-based Maintenance System for Ports

Jelurida, a company that specializes in the provision of blockchain solutions, has formed a partnership with the augmented reality (AR) company Aumenta Solutions in order to create a whole new maintenance system for port facilities. Increasing the real-time traceability of maintenance activities is the goal of this technology, which blends blockchain certification with augmented reality (AR). The team at Aumenta Solutions has experience working on projects similar to this one in the past. In the year 2020, the company worked on a system quite similar to this one in conjunction…

Aumenta Solutions, MSI, Jelurida Partner for Blockchain-Based Port Infrastructure Maintenance Platform

Aumenta Solutions and MSI’s port infrastructure maintenance project is based on the Ardor blockchain and makes use of augmented reality technology. The TECNIO Centre EASY research group’s Aumenta Solutions, an augmented reality solution provider for industry, engineering and architecture professionals, has partnered with shipping company MSI and blockchain development and maintenance firm Jelurida to transform the port infrastructure maintenance industry. The collaboration will incorporate blockchain technology and augmented reality to provide real-time maintenance data sharing, increase efficiency and reduce system downtime. TECNIO Centre EASY is a research group from the…

SEB and Crédit Agricole CIB Launch Blockchain-based Digital Bonds Platform

The two banks also assure of plans to allow the platform to accommodate central bank digital currencies in the future. Earlier, Crédit Agricole CIB and SEB jointly announced the launch of a new public blockchain-based platform, so|bond. According to the announcement, the platform will be focused on improving the efficiency of issuing digital bonds, albeit with a little twist of sustainability. That is, while the network is not exactly fixated on green bonds, it still aims to be eco-friendly in its operations. To this end, the platform will look to…

Andy Warhol Artworks to Launch on New Blockchain-based Platform

Each of four Warhol’s prints will be accessible as shares in the form of security tokens. Tokenized versions of some of the artworks of Andy Warhol are set to launch on a new fine platform known as Freeport. This follows after the blockchain-based art-focused platform recently bagged approval from the US Securities and Exchange Commission (SEC).  Freeport was recently looking to complete its Reg A review and its efforts finally paid off on Wednesday. This simply implies that Freeport is now licensed to sell shares of fine artworks in the…

Blockchain-Based Debt Protocol Obligate Records First Tokenized Bond Issuance on Polygon Network

“With traditional sources of lending restricted by current market conditions, this issuance enables investors to access on-chain bonds and commercial paper at a fraction of the cost and time, within the same secure and regulated framework they are familiar with from the traditional financial markets,” Bruce Jackson, Apex’s chief of digital asset funds and business, said. Source link

AI set to benefit from blockchain-based data infrastructure

The rise of ChatGPT has been nothing short of spectacular. Within two months of launch, the artificial intelligence (AI)-based application reached 100 million unique users. In January 2023 alone, ChatGPT registered about 590 million visits. In addition to AI, blockchain is another disruptive technology with increasing adoption. Decentralized protocols, applications and business models have matured and gained market traction since the Bitcoin (BTC) white paper was published in 2008. Much needs to be done to advance both of these technologies, but the zones of convergence between the two will be…

Pakistan Banks Develop Blockchain-based KYC Platform

The Pakistan Banks’ Association (PBA), a group of 31 traditional banks operating in Pakistan, has signed off on the development of a blockchain-based Know Your Customer (KYC) platform. The move aims to strengthen the country’s Anti-Money Laundering (AML) capabilities while countering terror financing – an initiative led by the State Bank of Pakistan (SBP). As reported by the Daily Times, the PBA signed a contract on March 2 to develop Pakistan’s first blockchain-based national eKYC banking platform. The Avanza Group has been tasked to develop the blockchain-based eKYC platform named…