The World Largest Retail Major Walmart Refer To Blockchain Based Smart Appliances For Its Patent Application

The blockchain technology has accelerated its value added activities that U.S. retail giant Walmart announces the blockchain based smart appliances for which it has already applied for another patent.

On the application summary front, it outlines all those systems and methods that manage smart appliances like,  a desktop or server computer, a tabletop device, a kiosk, portable computing devices, for example, gaming devices, laptop, media players among other items. The user of these devices will be provided the private key that can be used to authorize a transaction through the blockchain technology in place. The excerpt from the official source of Walmart as follows:

“A user may obtain a kiosk and add the newly obtained kiosk to the distributed ledger structure utilizing their smart device to provision and/or authorize the kiosk. In one example, the user device may be a wearable device that maintains the private key used to authorize the transaction. The kiosk may sync with the user device and be automatically provisioned as a home delivery station and added as a device in the distributed ledger management system.”

The users will be allowed by the management to use a variety of customized access that controls the kiosk including the accept and decline options in place to create and order an item.

As per the patent, resources used in the Internet of Things (which can be used to support the blockchain server network to manage more smart appliances) are associated with multiple roles in the context of a single related transaction. Let us not forget that the patent proposes to create a smart home environment that reflects the better appliance management system on home, media, energy, healthcare, manufacturing verticals. The retail giant Walmart is well famous to adapt actively the new age technology – blockchain technology. With this, it has already applied for numerous blockchain powered systems like secure deliver management system.

Other filings of Walmart includes a Smart Package System in order to track package contents, location, environmental conditions executed by Bitcoin and other cryptocurrencies. It has already acquired to incorporate numerous blockchain-based applications for its range of perspectives like customer marketplace, medical sector, food supply chain, energy consumption management system.

 

 

The Digital Economy Is Accelerating Its Pace In South East Asia To Consolidate Its Blockchain Platform

The new arrival technology Blockchain-as-a-service (BAAS) platform for enterprises that helps build dynamic services and applications on the blockchain network announces its collaboration with SIX Network. While combining the variety of expertise in the content, payment in the blockchain space,  Bezant, and SIX Network assure to release creativity in order to consolidate global content creators through the use of the Bezant’s blockchain platform.

 

The company’s blockchain is operated and organized on a private blockchain network with the short and few verifications require to be in place. With this, it is able to assist the global payments fast, cost-effective and transparent that allows individuals from around the world to buy digital content with the ease of use. Besides this, the traders can integrate Bezant’ services with their brands constantly to create a variety of revenue channels for their respective goods and contents like movies, apps, games, etc.

 

The start-up company SIX was originated from Korea’s and Thailand’s one of the largest digital media startup groups. The main aim for this alliance is to create a fair, secure, transparent and efficient ecosystem for all those stakeholders involved in the creative and digital economies. Currently, the company has 10 million and above active users in creative platform across the nations like South Korea, Indonesia, and Thailand.

 

The company’s goals are more in line with Bezant as both the companies seek to consolidate themselves to create a more secure and efficient ecosystem for all stakeholders in the digital and creative economies. The SIX Network team is constituted by a former executive of OOKBEE U which is considered to be Thailand’s largest user-generated content platform for comics and novels online, as well as Yello Digital Marketing which is considered to be the digital marketing and advertising arm of Yello Mobile based in South Korea.

 

According to Charkid Thanhachartyothin, Co-founder, and Head of Blockchain of SIX Network, the mutual recognition by Bezant and SIX Network for inherent issues that will affect the creative digital economy. This is why the consolidated relationships of both the companies assist the digital and creative industries for more liquidity.

 

Bezant basically offers blockchain based services for enterprises to create dynamic services and applications on the top of the Bezant Blockchain network that enables enterprises to streamline their services with the integration of blockchain technology and execute their own token sales. The company focuses on games, mobile apps, e-commerce usually in emerging markets. With this, the company also facilitates immediate and decentralized payment solutions in order for the global consumers to access goods and services through the use of its wallet and Token called BZNT.

 

According to Oh Thongsrinoon, Chief Marketing Officer of Bezant, they are more inclined economic and social change by enhancing the production and consumption of digital content outside the walled gardens of global tech companies. With the strategic collaboration in place with SIX Network in Southeast Asia, Bezant has acquired to shift the dynamics and empower and consolidate creators in emerging markets. This will definitely a competitive advantage acquired by both the companies in a marketplace going forward.

 

In the months of March and May this year, both Bezant and SIX Network raised US$60 Million collectively the token sales successfully.

 

Let us not forget that the mergers and acquisitions are those strategic practices that always create and add values either through reducing costs or enhancing revenues. We can expect the same from Bezant and SIX Network’s partnership that adds value!!

 

Hong-Kong Based Company Launches Its Second Blockchain Based Contract Offering Financial Solutions

Blockchain-based finance solutions enterprise in Hong Kong, IOHK recently launched its second Cardano smart contract called Testnet dubbed “IELE” on 30th July. IELE offers a variety of financial instruments that are secure and efficient to its potential users. The virtual machine based financial instruments helps execute smart contracts on the Cardano Blockchain. Moreover, developers will get a chance to give their feedback and comments to IOHK by fully using smart contract technology.

 

The technology uses Solidity programming language through the virtual machine without any cumbersome process. The virtual machine executes contracts which are based on Cardano Blockchain. With Runtime Verification, IOHK developed the project to be funded soon.

 

An excerpt from the CEO of IOHK and founding member of Ethereum, Charles Hoskinson:

“Developers will have far better security and performance with smart contracts on Cardano, thanks to our work with Runtime Verification. I’m delighted to bring this technology into the industry as everyone benefits when blockchain matures into solid and dependable infrastructure people can trust, without fear of bugs or flaws.”

 

On the day when Cardano’s first Smart Contract KEVM TestNet launched, IOKH announced in its official blog for its upcoming second Smart Contract Cardano TestNet IELE while stating that it would allow its developers the write, execute smart contracts flexibly while keeping higher standards of security and performance compared to the first one KEVM TestNet.

 

Let us not forget that testnet is in line with the promises made earlier. It serves as a lower level platform that can efficiently translate and execute smart contracts from the advanced languages. At present, it supports Solidity programming language and more languages will be supported going forward.  The second smart contract IELE will be powered and executed on a registered except than using the architecture based on the stack. Needless to say that the application for smart contracts in the real world is so awesome.

 

Instead of musing over the concept that the real world utilizes, it is highly recommended to analyze and evaluate how the concept of smart contract works. Let us not forget that the intention is the same either for the traditional contract or smart contract when it comes to specifying the terms of the agreement. Because eventually its only actions that reflect the smartness.  If we look at the Cardano’s interest in smart contracts, it is advisable to conclude that the firm holds blockchain based contracts in a very sophisticated manner. Cardano’s main aim is to nurture a business environment that streamlines and executes contracts with minimum or zero transaction costs. The smart contracts also called the blockchain contracts have been an excellent one that saves time, reduces the cost of execution and most importantly reduces the necessity for third-party involvement.

 

Let us not forget that the smart contract is one of the most value-added activities with the great potential that it has in place!!

 

The Crypto Major Bitcoin Has Become The Mainstream For Most Of The Nations In The World

Now that the blockchain technology has become omnipresent that most of the nations have started recognizing the values of new technology, there are several countries that are racing to be the world’s capital of cryptocurrency led technologies. Malta, Gibraltar, Bermuda are the ones that have started competing with France to attract cryptocurrency led companies to organize their headquarters in their respective capitals.

The major tax havens nations that are considered to be paradise for investments like, Liechtenstein, Bermuda, Malta, Gibraltar are viciously strategizing to attract entrepreneurs and investors that are inclined to crypto led investments in such countries. These nations have started to pass and ease the legislation that makes their environments more investor-friendly with fewer complexities involved as per the valid source from The New York Times.

Malta which is one of the investor friendly nations has already got the three laws passed through its respective government just last month on 4th July that companies can easily issue new cryptocurrencies and trade existing ones that they have. Bermuda is amongst the one that has its legislature passed and approved the law which allows start-ups to organize initial coin offering (ICO) so speedy. Bermuda is forwarding its initiative that facilitates the growth of its fintech industry. As per the valid source, the Digital Asset Business Act 2018 in Bermuda, it enacted through the House of Assembly that aims to set up a framework that helps regulate persons carrying transactions on digital asset business as well as protecting the interest of clients that carrying and transacting through digital asset business.

Liechtenstein is also the one that has forwarded a few steps in this space. The banks there in the country can facilitate crypto transactions on behalf of their clients and offers advice pertaining to the crypto related matter and mostly Initial Coin Offerings (ICOs). Accordingly, the founder of Ethereum, Yanislav Malahov concludes his remarks about the laws over there in Liechtenstein that streamline the process of setting up crypto company (even without a bank account through using Bitcoin and Ethereum)  and help execute ICO process faster.

The other country like Gibraltar in the month of January this year, passed legislation that facilitates fintech innovation, especially on the Distributed Ledger Technology Regulatory Framework with the aim that protects customers of crypto space in British overseas territory. Let us not forget that in the recent soccer match, Gibraltar’s soccer teams Gibraltar United announced that it would execute its payment to its players with cryptocurrency.  And not only Gibraltar, but overseas territories, as well as European princedoms, would like to incubate and organize to lead the crypto industry where Switzerland and France want to become the hubs for the crypto industry. Accordingly Bruno Le Maire, the French Finance Minister they want to make France the epicenter for blockchain technology and cryptocurrency.

The central European country Switzerland has streamlined its taxes and related laws and regulations already and that has started gaining the attraction of Bitcoin and Cryptocurrencies led community. Needless to say that Ethereum is incorporated in the Swiss city of Zug which was earlier known as the Crypto Valley which has been accepting Bitcoin as payments for a variety of transactions.

According to Malta’s Prime Minister, many nations and geographies have created their places such that  enticing the crypto community. With this, Malta’s main aim to be the global pathfinder towards the laws and regulations that influence world-class fintech companies to be there for a longer period of time.

 

Bitcoin dips lower as the new week commences.

After the historic slump of all the currencies in the beginning of the month, attempts were being made by the market to restore Bitcoin to the value it had held the previous year. There was again a drop in the value as the plea for ETF based on Bitcoin by Winklevoss brothers was rejected. However, Bitcoin had managed to emerge from that as well. However, with the commencement of this week, Bitcoin slipped back to the 8000$ mark, disregarding the recovery it had made through the week. This has come as a shock to several people in the field.

The market opened with Bitcoin at the two thousand one hundred mark and it remained at that position for a while before it slipped down to eight thousand. To the dismay of several people in the market, it ended at a mild seven thousand 81,000-61,000$.

This fall in the value of Bitcoin has astounded several people in the market because it has come at a time when it has become hard to figure out what exactly is ailing the market right now and why are the prices falling back. This sort of a phenomenon has given a hint to the traders to be careful as they speculate about the short term investment in the market.

Smart Contract Technology in demand today

Now that the blockchain technology has started gaining its status amongst the corporates and investors worldwide, there has been a rising network that use smart contract technology especially to manage agreements process with it.

With the single goal in place to redefine as to how legal products and services assist the networked economy, a group of law firms and technology companies have conceded to work together for further launching of a public, permission blockchain network through the Agreements Network tool.  The range of law firms included LegalBonok and ErdosIP, BakerHostetler that will be joined by tech companies clause whereas the others are Monax, Rymedi, Libra, LexPredict, Crowdcube, TransparentNode and Wolfram Blockchain Labs.

The Agreements Network is a newly set-up tool that delivers legal know-how to the market. Let us not forget that the networked economy, legal contracting happens less on paper and moves to software and devices.

The lawyers and companies with the help of Agreements Network can design, operate and execute contracts to perform jobs, for example, contract management, collecting, storing and providing evidence. With this, the Agreement Network’s legal reference layer is one of the novel tools that track very important information like a chain of custody for assets. However, it also supports the creation of new products that transform future legal contracts.

The participants that involved in the Agreement Network will validate, refine operation of the technology while addressing issues that enables adoptions and scaling the solutions for a legal product that meets the demand for legal – Smart Contracts.

On the transaction summary front, the legal products will be executed through simple legal functions and marketed and sold across a global peer-to-peer network. Needless to say that the complementary legal products will bring revenue more excitedly and represent client opportunities to any lawyer by creating and executing a more diverse and competitive marketplace for all consumers.

 

The Blockchain Industry has come a long way

The global banking systems eventually started to gain their experience with the new  technology – Blockchain technology. There are nine global banking giants are looking for trial for their programs based on distributed ledger technology (DLT) by showcasing their interest towards space and to confirm its authenticity and merits.

According to the valid news broadcasted from Financial News as on 27th July, the LedgerConnect which is the lovechild project of foreign exchange processing giant CLS and tech giant IBM among other global banking giants are in trials for their programs based on DLT. LedgerConnect offers a comprehensive platform in order to streamline banks to take benefits of the Blockchain based projects by bridging the gap between existing and new technologies.

The blockchain based projects are expected to have a strong delivery system in place to provide solutions on Know Your Customer (KYC) and Anti-Money Laundering Regulations front with the technology is built with Hyper-ledger fabric technology on the Blockchain Platform.

According to the Vice President of Financial Markets for IBM, Keith Bear says that “The major challenge is to work together especially when we have a large highly regulated industry and on the opposite side we have more agile and fast-footed fintechs with limited resources”. However, the blockchain itself is facing regulatory challenges that it must find ways to lessen them through a variety of ways and mechanism in place.

Needless to say that the LedgerConnect needs to receive the approval from its oversight from its committee. The committee included the Federal Reserve Bank of New York and other Central Banks. Besides this, there are nine global banks that are expected to test the platform that also included Citigroup and Barclays. The remaining names of the banks are yet to disclose. Another one that is Barclays has already attested its interested in the field of Distributed Ledger Technology and Cryptocurrencies in the recent months.

Let us not forget that the blockchain technology is expected to change the dynamics of businesses globally. So let us reap the benefits out of it!!

 

Unhackable Claims by Security Researchers for Bifti

In today’s highly competitive world where we are living in the world of Artificial Intelligence and the enormous arrival of Blockchain technology, one has to be more peculiar when it comes to using new technology in place.

 

On the cryptocurrencies front, the wide range of transactions are transited on a regular basis, one can expect the major crypto-currency Bitcoin having sprawled numerous complexities like hacks, cyber attacks, hacks among others.

 

According to John McAfee, to execute the transaction and operating in the environment of cryptocurrencies, one has to be very conscious and be careful about their security and be educated enough to ward off outrageous claims normally happening in the kind of the transactions.  This is why an unhackable Bitfi Hardware Wallet needs to be in place which was already unveiled in June this year. As a tagline, it is called the first truly unhackable wallet that promises impenetrable security and execute its operation without any risk of loss. The Wallet itself claims to be the most consolidated inbuilt security compared to any other types like storage, or cold storage. This is why it is said to be Unhackable Bifti Wallet.

 

Additionally, John McAfee claims for the Bitfi is bold enough and unhackable indeed. Now that a variety of mechanism and sophisticated methods are available to make wallets secure and easy to use, the Bitfi Wallet will definitely create value that adds and considered to be the best security measure in place. There are various competitors that have innovative methods in place that protect private keys, however, Bitfi can give them an edge on security measure in an absolutely ethical way.

 

As per John McAfee, who says that no other hardware wallet that are available in the market that has been built to this level of competency that the Bitfi has. The level of competency in security measure was achieved primarily by utilizing a proprietary open source algorithm that computes the private key from a user’s own unique secret phrase as per the valid source.

 

Additionally, the developers at the company say that the Bifti Wallet cannot be meddled with. Even if it is lost, stolen or analyzed forensically, the private keys cannot be fetched thereby making the wallet safe to buy from anyone within the network of authorized distribution dealers.

 

The initial reviews were unsympathetic pertaining to Bitfi that can best be seen by the comment of one security researcher that says that the product is designed for shooting yourself in the foot. John McAfee criticizes all those researchers’ comments that comes as hatters and negative reviews are considered to be fake because those were based on Bitfi documentation except than analyzing the actual device in place. Additionally, he challenged if anyone else can hack the wallet to receive a $100000 reward.

 

At present security researchers have accepted the hacking challenge by putting their hands on the device. Eventually, they have been in a position to discover a few interesting things collectively like the hardware of the wallet is made of Chinese mobile phone (MediaTek MT6580) minus the camera and SIM Card. With this, the firmware contains a Baidu GPS/WIFI tracker which is a malware suite (Adups FOTA) and a tracker capable of logging all activities on the device.

 

Let us not forget that no matter which device you use or which technology that you have in place, one has to analyze the perspective from various angles especially when it comes to evaluating a variety of security measures!!

 

The Era of Digital Currencies

The various types of digital assets are available in the market, however, the digital currencies are the one that can be widely used at present as per the valid source from the PwC Switzerland. Needless to say that there are some differences between digital assets and digital currencies.

According to Stadler (a senior authority at PwC), digital assets can be divided into three types namely Bitcoin (BTC), Utility Tokens and Security Tokens. Further, he said that the currencies like Bitcoin (BTC) can be used in both ways like a payment instrument and a payment network in equal measure where the transaction can be executed without any involvement of any intermediary or central authority. Whereas the Utility Tokens are fuel to use software or services.

However, Ethereum based smart contracts can be used for speculation which may have more similarity between BTC and ETH.

The third one digital asset is Security Tokens which is in the form of digital securities like shares in companies or rights to future profits from a project. Accordingly Standler, the Security Tokens can be tricky due to its nature in place especially from a regulatory perspective because they are likely to be in the same way how Initial Public Offers (IPO) takes place.

When it comes to defining a variety of digital assets in place, Stadler concludes his remarks that despite the speculative nature in place, the digital assets can be very much useful especially on transition perspective. The Bitcoin (BTC) is considered a long-term investment while doing portfolio planning as it grows every now and then and people accepted it as a means of payment.

An excerpt from Stadler’s statement as follows:

Technical stability plays a particularly important role. Priority is given to security and resistance to external influence through conservative technological development … With fees amounting to just a few pennies, Bitcoin can bring significant benefits in terms of costs in the field of international trade, where traditional payment transactions can incur very high transaction fees.”

Additionally, Stadler refers to the risk profile of cryptocurrencies for utility and security tokens significantly.

In a nutshell, what he realizes and focuses while referring to Bitcoin (BTC) and related transactions on technology, economy, and sociology front that there has to be an innovative business model in place. Because the new buzzwords like smart contracts and tokenization of real-world digital assets are still in nascent stage and will impact the entire corporate and business world going forward. He also advises to ward off the recent ICOs having said that most of them are scammers and projects are not feasible enough to execute.

Let us not forget that the Blockchain industry is definitely an exuberant one that entices everyone. How one can use it that always matters!!