Tag: BlockchainPowered

Blockchain-Powered Satellite Contributes to Ethereum Scaling

The Ethereum KZG ceremony is receiving a contributor from outer space as Cryptosat, a blockchain-powered satellite orbiting Earth, has contributed entropy to the Ethereum scaling effort. The satellite’s Verifiable Random Beacon service generated the entropy, which was signed by the satellite itself and can be verified using the public key of Crypto2. The Ethereum Foundation requested that users from all over the world contribute randomness to the KZG ceremony to strengthen the security of the next version of Ethereum. The KZG ceremony aims to provide a cryptographic foundation for Ethereum…

Telegram Introduces No-SIM Sign-ups With Blockchain-Powered Numbers – Bitcoin News

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Popular messenger Telegram now allows users to open accounts without the need to provide their mobile phone numbers. With the app’s latest update, they can log in using blockchain-based numbers instead, and they can be purchased with cryptocurrency on the Fragment platform. Telegram Promises ‘New Era of Privacy’ With Accounts That Don’t Require Phone Numbers One of the most popular messaging services in the crypto community, Telegram, has issued a new update to its application. The messenger now allows users to have an account without linking a cellphone number, an…

Philcoin Partners with Indacoin to Enhance Blockchain-Powered Charity

To enhance confidence and accountability in the charitable space, philanthropic blockchain ecosystem Philcoin has inked a deal with Indacoin, a British fiat-to-crypto conversion gateway. Jerry Lopez, Philcoin’s CEO and founder, noted that the partnership would be a stepping stone toward changing how giving happens by providing credit and debit cardholders with the chance to instantly purchase its native token, PHL, in at least 180 countries. Lopez stated: “We have a user base of over 250,000 people across the world through our app and we expect this number to soar…

Koreans to have access to blockchain-powered digital IDs by 2024

South Koreans could soon allow its citizens to use blockchain-based digital identification (ID) instead of physical cards as soon as 2024, as the nation further embraces blockchain technology. According to an Oct. 17 report from Bloomberg, a plan from the government will see digital IDs embedded as an app within mobile devices in the future, working in a similar fashion to physical resident registration cards. The digital IDs are expected to launch in 2024, with around 45 million citizens expected to adopt the technology within two years. An economist at…

DelMonte Adopts Blockchain-Powered Traceability Solutions for Quality Assurance

Fresh Del Monte Produce has invested in Jordanian and UK-based startup Decapolis for blockchain-enabled traceability solutions to facilitate  innovative and best-in-class solutions for its products and services. Del Monte, a leading vertically integrated producer, distributor, and marketer of fresh and fresh-cut fruits and vegetables, invested a 39% stake in Decapolis with plans underway to roll out a blockchain-powered traceability solution dubbed Decapolis Food Guard (DFG). Mohammad Abu-Ghazaleh, Fresh Del Monte CEO and chairman noted: “Now more than ever, consumers are very cognizant of what goes into their food. With…

UAE Gets First Blockchain-Powered Solution to Acceletrate Motor Insurance Claims

To tackle the decades-old industry challenge of reconciling motor recovery claims, XA Group has rolled out the first ‘Made in the UAE’ end-to-end and blockchain-based digital solution dubbed Addenda, according to local media outlet Khaleej Times.  The blockchain-powered solution has already been adopted by leading insurers in the United Arab Emirates (UAE), such as Oriental Insurance Company, Emirates Insurance Company, Yas Takaful, and Abu Dhabi National Insurance Company. Therefore, this signals the industry’s appetite for digitalization and transparency. Per the announcement: “Addenda offers a live and shared view of…

European Central Bank Considers Rolling Out Blockchain-Powered Bank Transactions

The European Central Bank (ECB) seeks to be ahead of the game by studying how blockchain-based bank transactions will enable more money control even if lenders change to distributed ledgers. Fabio Panetta, an ECB board member, pointed out that it was fundamental to avert a situation where liquidity and trading would become fragmented if banks were allowed to settle amongst themselves or utilize stablecoins.  Panetta added: “Despite the uncertainties surrounding DLT’s potential, we want to be prepared for a scenario where market players adopt DLT for wholesale payments and…

Crypto Popularity to Spur Growth in Blockchain-Powered Banking, Financial Services

The surging use of cryptocurrencies is expected to enhance the development of blockchain in the banking and financial services market, according to The Business Research Company.  The report noted that the worldwide blockchain in banking and financial services market size is anticipated to hit $1.89 billion this year from $1.17 billion recorded in 2021.   As a result, recording a compound annual growth rate (CAGR) of 61.9%. The report added: “The blockchain in banking and financial services market is expected to reach $12.39 billion in 2026 at a CAGR…