Huawei Cloud’s blockchain service just got its first major update in two years

Huawei announced an update for it’s blockchain-based cloud service, known as Blockchain Service 2.0, or BCS 2.0, during a recent industry summit. It appears that the platform’s upcoming enhancement will serve as its first major update since 2018.  According to Fangming Hong, President of Huawei Cloud China, Feng Xu, President of Huawei cloud application platform product line, and other top brass from Huawei’s management team, the upgrade’s main goal is to scale the project for commercial applications.  The new and improved platform will reportedly meet performance requirements of 50000 transactions…

CREAM Jumps 54% on Binance Listing; Major Dump Ahead?

CREAM logged a sharp reversal rally on Wednesday as traders assessed its listing on Binance, the world’s leading cryptocurrency exchange by volume. The Malta-based trading platform will list CREAM/BNB and CREAM/BUSD trading pairs at 1300 UTC, per its announcement. That will enable users to effectively deposit and trade their CREAM tokens against Binance Coin and US-regulated stablecoin BUSD. CREAM/USD surged by almost 54 percent in just three hours of trading after the Binance listing. The pair hit an intraday high at $120.85. CREAM/USD hits fresh intraday high after Binance listing.…

Major Asian bank issues credit on SCB-backed blockchain

The Asian Development Bank (ADB), headquartered in the Philippines, has settled its first letter of credit (LC) transaction using the Standard Chartered-backed Contour blockchain network. The trade was a part of ADB’s trade and supply chain program and involved Standard Chartered and the Bank for Investment and Development of Vietnam. ADB’s trade settlement also marked the first blockchain-based cross-border LC transaction between Vietnam and Thailand.  According to a Global Trade Review report, the trade involved a $50,000 plastics shipment sent from Thailand’s SCG Plastics Co Ltd to Vietnam’s Opec Plastics…

Russian star transfers song rights on blockchain as major labels watch

Russian pop singer Oleg Kenzov has completed the first digital rights transfer of a song he wrote using a blockchain platform backed by the government. According to VC.ru, the studio Soyuz reached a licensing agreement deal with music service FONMIX to distribute Kenzov’s song “Po Kaifu” to stores, restaurants, and gyms who wish to use it for marketing purposes. The historic blockchain rights transfer was held in the presence of top music industry players from major record companies and labels such as Warner Music Russia, Sony Music, Universal Music, Zhara…

BNP Paribas connects to major stock exchanges with DAML smart contracts

BNP Paribas’ securities arm has partnered with Digital Asset to develop a number of real-time trade and settlement applications using DAML-based smart contracts, the firm announced on Sept. 15. The new DAML-driven apps will connect BNP Paribas Securities Services with major global stock exchanges like the Australian Securities Exchange, or ASX, and the Hong Kong Exchange, or HKEX. The apps will provide market participants in the Asia Pacific with real-time access to ASX’s and HKEX’s upcoming blockchain-based trading and settlement platforms. BNP Paribas will specifically connect to the ASX’s blockchain-powered equity…

China’s Blockchain Services Network Now Under Major Development Alongside “Digital Fujian” Project in the Province

China’s national Blockchain Services Network has been in development in China’s Fujian province, recently along with its 20 main blockchain projects as part of the “Digital Fujian” program.  These blockchain projects include the technical transformation in the industrial and commercial service industries, as well as a few major agricultural sectors. The blockchain construction projects also include the fields of government, public welfare services, industrial and agricultural production, including the blockchain application service platform.  According to Chen Ronghui, the director of the DIgital Office of Fujian, “Digital Fujian,” has the advantages…

Traders Flip Short on Chainlink as It Flashes Some Major Warning Signs

Chainlink has been caught within a prolonged consolidation phase throughout the past few weeks, with the cryptocurrency largely trading between $12.00 and $12.70. This consolidation has done little to offer insights into its near-term outlook, as its bulls are still reeling from the damage done to its market structure following the $20.00 rejection. Analysts are now noting that where it trends next may depend largely on its ultimate reaction to a key resistance level that its price is fast approaching. One trader is noting that he is expecting it to…

Major Chilean bank shuts down all branches following ransomware attack

Banco Estado, the only public bank in Chile and one of the three largest in the country, had to shut down its nationwide operations on Monday due to a cyberattack that turned out to be a ransomware launched by REvil. According to a public statement, the branches will remain closed for at least one day, but clarified that customers’ funds have not been affected by the incident. Citing sources close to the investigation, ZDNet reported that the REvil ransomware gang is behind the attack. It reportedly originated from an Office…

Dev finds major governance bug in SushiSwap, but no threat to the project yet

SushiSwap appears to be vulnerable from a sneaky bug that could multiply someone’s governance power without having to acquire new tokens. Reported by developer Jong Seok Park on Sept. 7, the bug can be described as a governance double-spend. In essence, SushiSwap governance lets token holders delegate their voting power to another entity. However, if that token holder then transfers the tokens to someone else, the delegatee still maintains their governance power. The second token holder can now delegate tokens once again, multiplying the delegatee’s power by as much as…

Major Swiss Insurer Adds Bitcoin and Ether Payments

Atupri, a Swiss health insurance provider, said Monday that its 200,000 customers will now be able to make payments using bitcoin and ethereum. The 110-year old firm claims it is the “first” insurer in Switzerland to accept cryptocurrencies. In a statement, Atupri said payments will be made through local regulated crypto financial firm Bitcoin Suisse, with which it has partnered. The Bern-based health company will not hold any bitcoin (BTC) or ether (ETH), only the converted cash it receives from Bitcoin Suisse. “As digital pioneers in the health sector, we…