13 December 2017
Nischala Murthy Kaushik

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Nischala Murthy Kaushik - Wipro Ltd.

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Blockchain in Action : Round-up of blockchain stories from Nov 2017

05 December 2017  |  4279 views  |  0

One more month down in 2017, and the blockchain momentum is only accelerating with many more interesting applications and use cases across all industries, all geographies and all sizes of organizations. In this post I am sharing a round-up of some of the interesting stories of blockchain in action for Nov 2017.

 

Former Credit Suisse and UBS execs team-up on luxury blockchain

The former chief digital officer of Credit Suisse has set up a marketplace for high-net-worth individuals to buy and sell luxury goods using blockchain technology. Marco Abele, who left the Swiss bank in August, has created Tend to allow investors to buy luxury assets including cars or paintings, he told Financial News. Blockchain specialist and UBS's former chief information offices, Oliver Bussmann, will join the company as a strategic adviser and assist it with raising capital through a so-called initial coin offering.

 

Amplify Plans Blockchain Leaders ETF

Amplify ETFs, the firm founded by Christian Magoon, has made the first filing for an ETF that will specifically target companies that participate in the use and development of blockchain technology. The actively managed Amplify Blockchain Leaders ETF will focus on the companies that are most likely to benefit from the blockchain phenomenon.

 

Indian companies using blockchain technology to better services

Bajaj Finserv, the holding company of Bajaj Group's NBFC and insurance firms, is using blockchain technology for services like travel insurance, for settling claims even before it is registered by the customer concerned.

 

Tracking the Origins of Thanksgiving Turkey on the Blockchain

American agricultural conglomerate Cargill is testing the blockchain to track and trace the origin of turkey products produced by family farms. Cargill’s Honeysuckle White brand is to employ the technology to enable consumers to know exactly where their turkey’s are coming from.

 

UK Mint Reveals Live Gold-Tracking Blockchain

The Royal Mint of the United Kingdom has just revealed their live gold tracking mechanism built with Blockchain technology. The tracking system had its first genesis block on Aug. 2 and while still not yet available to the public, has verified more than 50,000 blocks. The Blockchain technology based tracking system is designed to keep records of sales and ownership of the precious metal - a task that is relatively complex.

 

Icelandic Singer Björk Accepts Bitcoin for New Album, Rewards Buyers with Cryptocurrency

Björk is encouraging her fans to purchase her forthcoming album with cryptocurrencies, giving them the chance to earn rewards too. The Icelandic avant-garde icon’s ninth album, Utopia, is expected to be released on the 24 November. Teaming up with London-based Blockpool, a B2B blockchain framework, Björk has allowed for four different digital currencies to be used to buy her album.

 

IBM Has a New Blockchain Idea: Tracking Marijuana Sales

Companies are using the digital ledger technology popularized by bitcoin in banking, insurance, and contracts—but how about using a blockchain to track marijuana sales? Canada is planning to legalize cannabis sales next year, with some regulation of distribution and retailing done at the province level, following the same model used for tobacco and liquor. So when the government of British Columbia asked for suggestions about everything from age minimums to retail store rules, IBM came up with an innovative idea: use a blockchain.

 

Big Oil Plans Blockchain-Based Trading Platform

A consortium involving Shell, BP, and Statoil is working on the development of a blockchain-based energy commodity trading platform, along with three large commodity traders—Gunvor, Koch Supply & Trading, and Mercuria, Reuters reports, citing the consortium. The platform, which has financial backing from Dutch ABN Amro, ING, and French Societe Generale, should launch by the end of next year.

 

UPS dives into blockchain technology as trucking companies seek to evolve

United Parcel Service announced on Tuesday it has joined the Blockchain in Trucking Alliance (BiTA), the latest logistics company taking a closer look at the platform's offerings. "The technology has the potential to increase transparency and efficiency among shippers, carriers, brokers, consumers, vendors and other supply chain stakeholders," Linda Weakland, UPS director of enterprise architecture and innovation, said in a statement.

 

Allianz Unveils Blockchain Prototype for Self-Insurance Products

Global insurer Allianz has unveiled a new blockchain prototype focused on "captive" insurance policies. The prototype, the firm announced today, is aimed at providing a more streamlined approach for captive or self-insurance policies. With this type of product, a company will essentially insure themselves and their subsidiaries versus a more traditional policy purchase.

 

Blockchain Technology to Transform Tourism Industry, Says Russian Tourism Official

Russia’s Federal Agency for Tourism head, Oleg Safonov, has claimed that Blockchain technology has the capability to transform the country’s tourism industry. In his speech at the Kazan Tourism Forum 2017 in early November, Safonov said that Blockchain can be utilized to improve the quality of services provided to tourists. He claimed that by using the emerging technologies, tourists will be able to transact directly with service providers and will eliminate the need for third parties or intermediaries.

 

Blockchain to Secure Digital Crime Evidence, British Ministry of Justice Official

Great Britain’s Ministry of Justice technical architecture lead, Alistair Davidson, has claimed that Blockchain or distributed ledger technology (DLT) has great potential as a tool for securing and verifying digital evidence in a criminal investigation. He specifically cited the use of the technology in the creation of records for officer-worn camera footage.

 

Thai Bank Taps IBM for Contract Management Blockchain Pilot

Thailand-based Bank of Ayudhya (Krungsri), in partnership with tech giant IBM, has completed a blockchain pilot aimed to streamline the contract management process. According to the bank, the pilot, which was planned to rationalize the bank's related party transaction (RPT) capability, resulted in improved transparency and data security, as well as speeding up operations.

 

Waves Set To Become Fastest Decentralized Blockchain Platform Globally

Waves, a global public blockchain platform founded last year that completed its Initial Coin Offering (ICO) in June 2016 raising over $16 million (c.30,000 bitcoin (BTC)), is implementing new technology to enable the network to process “thousands of transactions” per minute and become the fastest decentralized blockchain platform in the world.

 

GE Patent Filings Hint at Blockchain Role in Aircraft Management

New patent filings from General Electric suggest that the U.S. conglomerate may be looking at blockchain as part of a wider aircraft monitoring and maintenance system. The U.S. Patent and Trademark Office (USPTO) published five applications from GE today, each of which focus on a concept for a "dynamic optimization" system that would touch multiple aspects of managing and operating aircraft, including maintenance services.

 

Blockchain Flight Data Experiment Results Revealed by SITA

SITA has unveiled the results of FlightChain, an experiment in managing flight information via blockchain technology that it conducted with British Airways (BA), Heathrow Airport (LHR), International Airlines Group (IAG), Geneva Airport (GVA) and Miami International Airport (MIA). The results were promising; and, like the technology itself, somewhat complicated.

 

Dubai Electricity and Water Authority continues smart transformation and tests blockchain

The Dubai Electricity and Water Authority (DEWA) is continuing to adopt smart technologies as part of its internet of things (IoT) strategy, and is using artificial intelligence (AI) in its service centres. DEWA says it is also promoting smart home energy monitoring and blockchain, and is already piloting two initiatives using the distributed ledger technology.

 

Malaysian Securities Commission Explores Blockchain Technology In The OTC Market

On November 6, 2017, the Securities Commission (SC) of Malaysia released a statement regarding blockchain technology and other innovations from its SCxSC Digital Finance Conference 2017 in Kuala Lumper. During a speech, SC Chairman Tan Sri Ranjit Ajit Sing described headway that the commission has made in the digital marketplace. He spoke of the SC's efforts to explore the merits of a pilot project to test a blockchain-based system of management for unlisted over-the-counter (OTC) marketplaces.

 

American Express Is Getting Into Blockchain-Based Payments With Ripple

American Express has introduced instant blockchain-based payments using Ripple, a fintech startup, for U.S. corporate customers sending funds to U.K.-based businesses that bank with Santander U.K., the companies said on Thursday. American Express said its FX International Payments (FXIP) business had partnered with Ripple to provide real-time, trackable non-card payments from the United States to Britain.

 

Massive Hedge Fund AQR Incorporating Blockchain Technology

In another win for the adoption of Blockchain technology into the banking and finance world, top hedge fund AQR ($208 bln under management) has announced that it will begin investigating how to incorporate the nascent technology into its trading platforms. The company hopes to use the technology to make its internal systems more efficient, since Blockchain allows for security without the increased hassles that traditional security means employ.

 

BurstIQ Brings $90 Million Case Study to Blockchain Through Intermountain Healthcare Spin-Off Empiric Health

BurstIQ, Inc., a leading healthcare blockchain data company, announced today the first mainstream OEM blockchain data record integration for Intermountain Healthcare with strategic partner Empiric Health. The Utah-based healthcare giant has already realized more than $90 million in savings using the Empiric technology (formerly known as ProComp) to identify operational efficiencies across the Intermountain Healthcare system. BurstIQ’s proprietary blockchain-based big data platform enables Empiric to securely manage customers’ data at scale and perform advanced analytics using the platform’s machine learning and collaborative intelligence capabilities.

 

Reality Shares, Nasdaq Partner to Launch Blockchain Economy Index

Investment marketplace Reality Shares has teamed up with Nasdaq to launch an index tracking companies in the nascent blockchain industry. The smart-beta index – called the Reality Shares Nasdaq Blockchain Economy Index – is compiled by using internal and external research, as well as a proprietary "Blockchain Score" ranking system.

 

1World Online and Bitfury Announce Strategic Partnership to Bring Blockchain-based Solutions to the Media and Publishing Industry

1World Online, the blockchain-powered engagement and revenue platform for publishers and brands, and Bitfury, the world's leading full service Blockchain technology company, announced today a strategic partnership to create blockchain-based solutions for the burgeoning media and publishing industry.

 

Genaro and Storj Labs Announce Collaboration and Product Integration

Genaro Network, a global blockchain project based in Singapore and built around the first Turing-complete public chain with decentralized storage network, today announced a partnership and product integration with Storj Labs, a decentralized cloud storage platform that leverages a peer-to-peer network to store and secure data. The Storj platform has been tested with enterprise-scale clients and enables the effective delivery of any digital asset while ensuring data remains private. Through this partnership, Genaro will integrate its platform with Storj Labs to provide decentralized cloud storage services throughout China.

 

Mastercard Seeks Patent for Instant Blockchain Payments Processing

New patent filings from Mastercard show how the credit card giant is looking at blockchain as a possible means for easing payment settlement times. In a patent application released last week by the U.S. Patent and Trademark Office, the company describes a blockchain-based database capable of instantaneously processing payments, guaranteeing that merchants don't need to wait days before receiving funds for their products.

 

UN Agencies Turn to Blockchain In Fight Against Child Trafficking

The United Nations has partnered with the World Identity Network (WIN) to develop a blockchain identity pilot aimed to help curb child trafficking. Announced during the Humanitarian Blockchain Summit in New York on Friday, the pilot involves participation from the United Nations Office for Project Services (UNOPS) and the United Nations Office of Information and Communications Technology (UN-OICT), a press release indicates. Storing digital identities on a blockchain, the release states, provides a "significantly higher chance of catching traffickers." Additionally, securing identity data on an immutable ledger will make trafficking attempts "more traceable and preventable."

 

Prudential, StarHub to Launch Blockchain Trade Platform In Singapore

Insurance giant Prudential has teamed up with Singapore telco StarHub to launch a blockchain-based digital trade platform for small and medium-sized enterprises (SMEs). With the new platform – called Fasttrack Trade (FTT) – SMEs will be able to find business partners and distributors, make payments and track goods, as well as buy insurance, a press release states. The partnership will see StarHub offering business customers access to services over FTT, with Prudential providing insurance options. Alternative financing options will also be made available via peer-to-peer lender Funding Societies.

 

MAS plans cross-border tie-ups on blockchains, e-payments; to develop 80 Robinson as fintech hub

SINGAPORE plans to work with partners in Hong Kong and Canada in developing the use of blockchain technology, the Monetary Authority of Singapore (MAS) announced on Tuesday. The MAS will set up a cross-border platform with the Hong Kong Monetary Authority to boost trade finance using distributed ledger technology. This will enable the seamless transfer of digital documents and data across the Singapore-Hong Kong trade corridor. This is expected to go live in early 2019.

 

Hong Kong Official Touts Blockchain for China's 'Belt and Road' Plan

According to Chinese news service Caixin, James Lau, Hong Kong’s Secretary for Financial Services and the Treasury, touted the technology during a forum appearance on Friday. Lau said that blockchain would bring "great benefits" to nations participating in President Xi Jinping's "Belt and Road" initiative, citing a forthcoming trade finance platform to be built on the tech. The project, unveiled in 2013, aims to connect regions across the South Pacific, Africa, Northern Europe and Russia, encompassing dozens of countries.

 

New Blockchain Platforms Emerge To Fight Cybercrime & Secure The Future

New blockchain platforms are stepping up to address security concerns in the face of recent breaches. Companies like Gladius, based in Maryland, and Confideal have emerged to leverage decentralization to offer platforms that promote trust. Gladius aims to tackle cyberattacks in new and pioneering ways, while Confideal provides companies access to smart contract development to be used to facilitate transactions securely. Since these platforms are not controlled by a singular entity, they can help ease the concerns created by a spree of recent breach disclosures.

 

Nasdaq Files Patent for Blockchain-based Asset Ownership Data Storage System

Major stock exchange operator Nasdaq has filed a patent for a Blockchain technology-based asset ownership data storage system. The system uses distributed ledger technology (DLT) to record the owner of an asset and employs digital wallets to enable an owner to access his/her assets.

 

EC Publishes Report on Blockchain Applicability for Education Sector

The European Commission has released a report detailing ways in which blockchain technology can be used to solve challenges in the education sector. The aim of the report is to address the value that “Blockchain may bring to stakeholders within the educational sector, with a particular focus on its potential for digital accreditation of personal and academic learning.”

 

New Venzee tool brings data transformation and validation to your blockchain project

If the blockchain is going to be an immutable record, you need to start with clean data. The question is, how do you get clean data into a blockchain database to begin with. Venzee, a startup that has been helping customers clean up their retail supply chain data to share with large vendors, thinks it has an answer. Venzee acts as a data transformation layer, taking your spreadsheet information in its current form and helping to convert that data into a format that the big retailers like Amazon and Walmart can use.

 

Fujitsu built a blockchain that blockchainifies other blockchains

Japanese IT major Fujitsu announced its new ConnectionChain payments technology aimed at facilitating transactions between blockchains. The payments system intends to provide a means for different cryptocurrency networks to interoperate with each other.

 

Canadians to Verify IDs with Blockchain System by Next Year

According to Bloomberg, Canadians will soon verify their IDs with the help of blockchain technology. SecureKey Technologies Inc, a Toronto-based ID and authentication provider, is working together with IBM Corp to create a digital identity network – the first ever in Canada. The system will help Canadians verify their identities for banks, telecommunication firms, and government institutions. The process will be done within seconds via dedicated mobile and desktop apps.

 

ING Creates Wall Street Friendly Blockchain Solution

ING, the Dutch financial group, has announced the creation of a new financier-friendly anonymous proof called a ‘Zero-knowledge range proof,’ or ZKRP for short. The risks of security and privacy for financial institutions have kept many out of the Blockchain technology market. The new proof is designed to maintain anonymity while still confirming the accuracy of a transaction.

 

Blockchain-based Secure Online Voting System Showcased

Cybersecurity firm Kaspersky Lab has introduced its Blockchain technology-based secure online voting system dubbed as Polys at the company’s annual Cybersecurity Weekend event in Dublin, Ireland. The system is supported with transparent crypto algorithms. In a statement at Polys’ website, the company claimed that Blockchain is the missing link in the architecture of an effective and secure online voting system.

 

Nasdaq to Deliver Blockchain e-Voting Solution to Strate

Nasdaq and Strate Ltd, the South African CSD, announced today an agreement for Nasdaq to deliver a new blockchain solution that would bring electronic voting to the South African capital markets. The solution will allow Strate, in conjunction with key stakeholders in the market, to provide general meeting services and give shareholders an easy, user-friendly and secure tool for voting remotely. The solution is based on the successful proof of concept (PoC) developed for Nasdaq’s Estonia market. In addition, Strate will contribute to the ongoing market development of e-Voting technology.

 

State Bank of India's blockchain smart contracts, ID verification could boost banking security

India's largest bank, the State Bank of India, will launch blockchain-enabled smart contract and identity verification beta projects in December, its head of innovation Sudin Baraokar told the Economic Times on Monday. Blockchain has proven to be the larger value of cryptocurrencies, with implications for almost every industry. The public ledger technology uses digital signatures and cryptographic hashing to provide a record of secure transactions that cannot be altered.

 

Blockchain Ad Exchange AdEx Partners Ink to Auction 2 Million Ad Spaces

AdEx, the blockchain-powered ad exchange is going to hold an ad spaces auction in partnership with leading travel media company, Ink.  Built on the Ethereum platform, AdEx is a decentralized ad exchange which uses smart contracts to allow publishers and advertisers to interact seamlessly and transparently, without having to rely on multiple exchanges with complicated processes. Ink on the other hand, is a leading travel media company that reaches over 775 million passengers a year and has partnerships with over 22 airlines and travel groups.

 

Blockstream, Digital Garage Team Up to Foster Blockchain in Japan

Bitcoin infrastructure company Blockstream has expanded its strategic partnership with Japanese IT firm Digital Garage. Aimed to foster blockchain development in Japan, the multi-year technology partnership comes following the pick-up in interest around bitcoin and blockchain technology in the country, said Kaoru Hayashi, group CEO of Digital Garage, in a press release.

 

Theta Labs Unveils P2P Video Delivery Network Powered by Blockchain

US-based startup Theta Labs is building a peer-to-peer video delivery network which uses a native blockchain and its own cryptocurrency to reward users who cache and relay video streams to others. By offering a decentralized alternative with an incentive mechanism, Theta Labs says it aims to address the current issues in the video content and streaming industry including low quality streaming, the high cost of content delivery and the limited revenue flow back to content creators.

 

Zim completes pilot of blockchain based paperless Bills of Lading

One of the largest containership operators in the world, Zim Integrated Shipping Services, has completed a pilot project using paperless Bills of Lading based on blockchain technology. The groundbreaking solution allows the secure exchange of original documents on the blockchain and was completed in cooperation with Sparx Logistics and Wave Ltd.

 

Australian government gives $8.25mn to blockchain energy project

Power Ledger, an Australian energy startup company, has been awarded a AU$8.25mn (US$6.25mn) grant by the government. The project that received the funding aims to create the country’s first green city in Fremantle, west of the country. The company plans to utilise blockchain technology in order to create a peer-to-peer renewable energy network. This network will enable the trading of self-generated units of solar power to energy retailers, who will then broker the energy to utilities.

 

Storiqa Brings E-Commerce to the Blockchain

The grand sweep of recent blockchain developments has found a place in the world of e-commerce. By eliminating many of the downsides of managing an online shop, Storiqa offers a clear set of tools so that anyone can build their online commercial presence. With Storiqa, users with any background will be able to setup and launch their online store. Features of the store will include the latest e-commerce technologies including cryptocurrency exchanges and the use of Storiqa tokens (STQ).

 

Video Streamers Have More Options with These New Blockchain Startups

Innovative technology companies are leveraging blockchain technology to build next-generation business models and Content Delivery Networks (CDNs) for video streaming, a multibillion-dollar industry that continues to grow. According to data revealed by Theta Labs, one of the companies covered below, the video content and streaming market accounts for 67 percent of current internet traffic and could reach 82 percent by 2020. The new players promise to decentralize global video streaming, while at the same time making it more efficient.

 

Firm To Use Blockchain For Real-Time Analysis Of Molecular Data

In a November 21 press release, the molecular data company Nano Global announced that it has partnered with the semiconductor firm Arm to develop a system-on-chip which leverages several emergent technologies, including blockchain, in the capture and analysis of “molecular-level data in real time.”

 

Mindshare Partners with Zilliqa to Test Blockchain Capabilities

Mindshare, the global media agency that is part of WPP, has announced a partnership with Zilliqa, the next-generation high-throughput blockchain platform across Asia-Pacific. The partnership will involve testing whether Zilliqa’s blockchain protocol can be used to address pervasive industry challenges including contextual advertising in relation to fake news; develop strategic initiatives around data privacy and develop an industry-wide tokenisation program which can be used for publisher and content scoring.

 

UAE’s RAK Bank Taps Ripple for Instant Blockchain Payments to India

RAK Bank, a retail and business bank in the UAE has partnered blockchain startup Ripple to power instant cross-border payments to retail customers to India, the world’s largest remittance receiver. RAK Bank, also known as the National Bank of Ras Al-Khaimah, an emirate in the UAE, is plugging into Ripple’s global bank-centric blockchain network RippleNet to enable live retail remittance payments to customers in Axis Bank in India.

 

Global Debt Registry Unveils Collateral Pledge Blockchain Proof of Concept

Global Debt Registry (GDR), the asset certainty company, has announced it has developed a collateral pledge registry, the first of its kind in the structured credit space, using Hyperledger Fabric, one of the Hyperledger Blockchain framework implementations hosted by The Linux Foundation. As the second phase in its Blockchain development following the announcement of the Company’s first Blockchain POC earlier this year, this Blockchain proof of concept supports the end-to-end assignment and release of pledge positions, reaffirming GDR’s role as an innovative leader in the structured credit space and its continued commitment to enabling the highest levels of trust in these markets.

 

ING launches major addition to blockchain technology: Zero-Knowledge Range Proof solution

ING Bank has announced the initial release of its Zero-Knowledge Range Proof (ZKRP) solution and the technology signals a major addition to Blockchain technology and will help overcome one of the biggest obstacles to financial services in using Blockchain technology: improving confidentiality in a public ledger. The ZKRP solution has been internally developed by the ING Blockchain team and has demonstrated significant efficiency improvement.

 

Australian Government Invests in Blockchain-Powered Smart City Projects

On Monday, the government of Australia announced an AU$8 million fund to begin a blockchain project in the city of Fremantle, involving an ICO. Partners of the project include technology company Cisco, Australia’s own Murdoch University, and PowerLedger—an ICO with a platform that allows people to trade their excess energy to others. They will be providing the lion’s share of the investment, totalling AU$5.68 million. The Australian government will contribute the remainder of the funding (AU$2.57 million).

 

Blockchain network IOTA teams up with Cisco, Volkswagen, others on data marketplace

IOTA, an open-source blockchain network, has teamed up with some of the biggest global corporate names led by Cisco Systems Inc, Volkswagen AG, and Samsung Group to launch what is aimed to be a secure marketplace for data, IOTA co-founder David Sønstebø said on Tuesday.  IOTA said more than 2.5 quintillion bytes of data are generated daily and are increasing exponentially on a monthly basis. However, more than 99 percent of this data is wasted and lost to the void because there is currently no ability for owners to sell or share this data in a secure fashion.

 

Axis Bank Launches Blockchain Based Instant International Payment Services

India’s third-largest private sector bank Axis Bank has launched instant international payment services using the enterprise blockchain technology solution from Ripple. The bank has launched a service for its retail customers in India to receive payments from RAKBANK in UAE while its corporate customers in India can receive payments from Standard Chartered Bank in Singapore.

 

Dnata Taps IBM for Air Cargo Blockchain Pilot

Dnata, provider of air and travel services in the Middle East, has announced the completion of a proof-of-concept examining blockchain's potential in the Dubai air cargo industry. The pilot saw participation from project partners IBM, Emirates Innovation Lab and Flydubai Cargo, and looked at blockchain's potential to address issues across various aspects of airfreight, including security and operations, as well as legal aspects, a press release indicates.

 

Blockchain-Based Air Travel To New Zealand

For travelers looking to New Zealand this year, the announcement of a major partnership between Air New Zealand and Blockchain non-profit startup Winding Tree for efficiency will be welcome news. The companies announced the partnership as a means of bringing smoothness and security of baggage, ticketing and other airline procedures.

 

Samsung Inks Deal with Seoul Government for Blockchain Platform

Samsung SDS, an IT subsidiary of the South Korean electronics giant, has revealed it is to establish a blockchain-based platform for the public sector. According to Korea Herald report, Samsung SDS has signed a deal with the Seoul Metropolitan Government to help develop its "information strategy" plan – using blockchain to support administration across welfare, public safety and transportation affairs in the capital by 2022.

 

Blockchain Venture Wants to Change African Farming Forever

Mineral investor African Potash Ltd is partnering with Global Markets Exchange Group International LLP’s FinComEco to develop blockchain-based platforms for sub-Saharan Africa’s agricultural commodity markets, according to a statement Tuesday. The “supply-to-demand system” will connect smaller farmers and traders with brokers and buyers to help them boost productivity and obtain better prices, London-based African Potash said.

 

BBVA applies blockchain tech to Letters of Credit

BBVA has applied blockchain technology from Wave to reduce the time taken to submit, verify and authorise an international trade transaction from seven to ten days, to just 2.5 hours. The pilot was run on an actual transaction between Mexico and Spain, in which Barcelona-based Frime bought more than 25 tons of frozen tuna from Pinsa Congelados, of Maztlan, México. The payment was made using a letter of credit issued by BBVA in Spain and processed by Mexican outpost Bancomer.

 

SophiaTX brings blockchain to pharmaceutical

SophiaTX has announced its intention to facilitate a holistic ‘track and trace’ solution for the transportation of products and medicines in the pharmaceutical industry. A joint Letter of Intent (LOI) announced by SophiaTX and Equidato Technologies CEO Jaroslav Kacina and the General Manager of Riyadh-based KITA Logistics, Nabil Awan, confirms an intended partnership between the two businesses on the design and development of a blockchain solution for pharmaceutical logistics and transport.

 

Transfer of property title likely on same day through blockchain

Multiple states in India such as Telangana and Andhra Pradesh are planning to record their land deals digitally by switching to blockchain technology that has the potential of transferring title of the property on the same day without paying bribes compared to the current process that takes almost one to three months.

 

Russia’s biggest bank conducts its first blockchain payment transaction

Sberbank has become the first Russian bank to carry out a payment transaction using the blockchain technology, which allows transfers within a few seconds. The transaction was conducted on the IBM Blockchain platform based on HyperLedger Fabric. According to Sberbank, its own IT infrastructure was used during the procedure. MegaFon, MegaLabs, Alfa-Bank, and IBM have also participated in the transaction.

 

Are there any other stories of blockchain in action that you have read or seen last month? Leave a comment / link below.

NOTE: Content in this post has been curated from the links referenced in the article

 

 

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