Category: Blockchain News

The blockchain technology has started changing the dynamics of the way businesses do globally. The South East Asian country Australia has initiated to consolidate its tourism sector by granting and encouraging its tourism sector through the blockchain technology. Australia’s Queensland State Government announced on Wednesday that it has granted a $100,000 to a start-up based on crypto travel experience. TravelbyBit, an Australia based company designs tourists routes on which travelers can transact with cryptocurrency (with the help of crypto payments platform for trading) provided by the company.

Needless to say that the Tourism is one of the most important industries in Queensland as stated by Ms. Kate Jones, Innovation Minister in Australia. Further, she says that “TravelbyBit has devised a clever way to make it easier for visitors to our state to pay for their purchases with a growing number of local businesses accepting cryptocurrency payments”.  

TravelbyBit is one amongst the 70 companies that are expected to receive funds in the range of $8.3 million grant which the company will use to scale up and grow its business models. There are 150 traders across the country use TravelbyBit’s payments platform as stated by Caleb Yeoh, CEO of the company. In addition, the company has organized its strategic partnership with Brisbane Airport Corporation in order to build a crypto friendly airport. This will definitely add values to the country’s tourism sector. We can expect that more sectors will follow the same models going forward.

Caleb has also commented in the statement that the country wants to target a variety of tourist brands mostly tech-savvy traveler from around the world who are inclined to book their travel experiences while organizing their trip through the use of digital currency especially to make payment for their travels. Let us not forget that at present TravelbyBit facilitates payments in BTC, DASH, LTC, ETH, XEM cryptocurrencies.

 

The human mind is eclectic as it always finds that where to get comfort. The online gaming industry has already accelerated its footprints globally, people are always inclined to use it either in a leisure time or online playing. Let us not to forget that playing a game is such an exciting to de-stress yourself however one can suffer if the gaming result is frustrated. However, the blockchain technology is competent enough to transform the industry which is really required a change. Needless to say that the change is the law of life. Since the inception, the gaming industry is known as disputed and untrustworthy space due to lots of legality of gambling involved. The regulations differ from country to country. However, there is some industry-friendly country like Malta that has recently announced and introduced the crypto-based gambling which is absolutely legal to use. The Malta Gaming Authority (MGA) issues the guidelines for distributed ledger technology (DLT) and virtual currencies that protect the interest of customers and ward off crime and other unethical practice involved like money laundering. Malta’s main goal is to introduce the blockchain technology that brings transparency back to the game so that it can lure more people from around the world that can use it profusely.

On the characteristics of the technology’s front, the one that brings transparency to the gaming industry that we have already lost. So far the casinos and online gaming base their victory on players that organize the higher bets instead of an absolute manner that result in declining the number of players as they refrain from using the online games.  However, the blockchain technology in place, it is said to be an open source technology that creates a platform where a transaction can be verified. Let’s not forget that the blockchain technology is completely de-centralized one where transactions are open to all those persons that are involved. The casino games once utilize the blockchain platform, players get a chance to verify and to make sure that their winning is distributed transparently and confirm the payments that are made at the end of the game. Blockchain technology lets the transactions be faster and more secure.

Erstwhile if a player wants to withdraw from the online casino, so it was not easy to get out of it. However, with the help of smart contracts (incorporated through the blockchain technology) are utilized in online transactions. It records all types of details including bet details and confirm the bet’s results and pay out the winnings automatically without any delay. The blockchain technology eliminates all the complexities that also included human manipulation. With this, no one can change the technology because of its registration in place especially on the blockchain. All the transactions that are executed on the blockchain platform, are recorded automatically and can not be deleted. This is one of the best alternatives that the industry can use it, especially when it comes to using cryptocurrency used as payment, collecting winnings of players in a secured way among other invaluable benefits that the blockchain technology offers.

 

Additionally, the blockchain based games can have numerous features in place like transaction, trade and collect digital assets. Eventually, it has come to change the way businesses do by a variety of mechanism and value-added features in place. With this, the blockchain technology is competent enough to offer online games and casinos as one of the trusted platforms where players can make the safest bets and may have secured transactions. We have already seen the industry struggling with a bad reputation and that we have to change that with the help of an awesome technology in place. The industry has faced numerous complexities like payment related frauds,  pre-arranged gaming results among others problems.

 

Let us not forget that the blockchain technology will not only change the dynamism the way businesses do, however it will fructify the gaming industry by making it a reputed one that you can play with pride!! So what you are waiting for? Just go online and start betting on blockchain platform!!

 

The fifth largest financial services market Ohio is organizing a legal framework that assists the blockchain technology and its platform. According to John Kasich, Governor of Ohio, executed a bill of the legal framework that allows using blockchain technology thereby making Ohio one of the first in the USA to introduce the Distributed Ledger Technology (DLT) on numerous verticals ranging from real estate to financial services, healthcare, supply chain management, etc. However, this is not the first time that blockchain was accommodated in a legal context, but in May this year, Matt Dolan, Ohio Senator proposed another bill SB300, but by some or other reason it was not gone through successfully.

The introduced bill clarifies the definitions of both electronic signature and records. An excerpt from the bill as follows:

 “Electronic signature” means an electronic sound, symbol, or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record. A signature that is secured through blockchain technology is considered to be in an electronic form and to be an electronic signature.”

“Electronic record” means a record created, generated, sent, communicated, received, or stored by electronic means. A record or contract that is secured through blockchain technology is considered to be in an electronic form and to be an electronic record.”

As specified by Valencia Isakina, managing director of Jobs Ohio on financial services domain, the state will be one of the most attractive destinations for blockchain based companies due to the congenial legal framework in place.  Besides this, the start-ups, innovators, entrepreneurs can initiate to build new applications and products that leverage and utilize the full potential of Distributed Ledger Technology (DTL) mostly in case of the financial industry over there. The introduction of blockchain technology on the financial market domain is the core for the state to the extent that it is considered one of the fifth largest financial services markets in the USA. The state has numerous banks, financial institutions, insurance companies’ headquarters trailing New York. Ohio having approximately 270,000 employees in the sector which is in the line of London and NewYork.

 

As per the comments were given by Matt Dolan, Senator of Ohio, “In order for Ohio to compete for new investments and jobs, we must welcome innovation, new technology, and advanced energy. Embracing blockchain technology is a step forward to achieve these goals.”

Let’s not forget that the blockchain technology has revolutionized the global industries by increasing its footprints through the innovative platform in place!!!

 

 

As per the most valid source from China, the Blockchain Innovation Summit in conjunction with Artificial Intelligence (AI) was organized on 1^st August to 2^nd August 2018 in Shanghai. The whole event was organized by Lingang Economic Development (Group) Co Ltd and China America Innovation Network with co-organizer are Lingang International Innovation Center and Lingang Innovation Galaxy supported by the Standing Committee of Baoshan District Peoples’ Congress and the district government.

On the Summit summary front, it brought 36 industry experts from the US and China, more than 500 tech-savvy people under the one roof that exchanged the views and conversations regarding the growth of artificial intelligence and new age technology called blockchain technology, robotics automated driving among other new age perspectives. The summit was also surrounded by the academic veteran Yuri van Geest who is the founder of Singularity University based in the Netherlands, research fellows from Copenhagen Institute, Michael Casey is the senior lecturer and senior advisor at MIT’s Media Lab and MIT Sloan School of Management among other scientists and industry veterans.

Now that the blockchain technology has accelerated its footprints globally by streamlining business transactions, everyone has the common view in place as to how to leverage the great potential that the blockchain technology has in place. As per the valid statement from Wei Haijun who is the partner at Grand View Capital, “In the Global Market, Chinese entrepreneurs have identified a set of internet growth patterns that are more suited to user expectations.” In addition to this, Cheng Hao who is the founder of Xunlei Limited which is one of the China’s leading cloud-based technology companies, “To find a positive way to start a business, entrepreneurs need to assess the state of competition in the industry they are eyeing in addition to examining the feasibility of profiting from the value added by the product rather than the product itself.” The world’s largest social site Face Book’s AI Lab stated in his comments that “Machine is now moving towards the mission of how to make creativity a fundamental component of the process.”

Needless to say that the world becomes so exciting to the extent that it can reconcile the artificial intelligence with blockchain technology. No one can ever how these two perspectives when combined will change the dynamics of the way businesses do globally.  This will notably be the case study in the world’s renowned institutions and universities. Among other topics that were covered, the focus on autonomous driving was thrown by various industry veterans coming from AutoX, Roadstar AI among others.

Shanghai’s Lingang International Innovation Center proved to be the backbone of its Technology Innovation Platform that assists companies to gain access to all those resources that add value through the strategic combination with companies abroad that bring advanced technologies. Lingang Group’s unit called Lingang Innovation Galaxy is primarily responsible to organize the group strategy for industrial transformation and changing the landscape by working closely with China’s Urbanization Policy. The strong proponent for innovation in technology and intelligent urbanization was sought by Lingang Innovation Galaxy and so it has created a strategic tie with Lingang International Innovation Center in order to encourage the development of innovation, technology, industry. Let us not forget that the main aim behind the project is to build a manifested district that China would like to see in the future filled up with technology and innovation.

In a nutshell, the summit evaluated complexities from all angles and provided with the solutions that the technology innovators facing at present. That has been possible by bringing an expertise of Silicon Valley where it offers and shares valuable experience and a variety of ways that China can use it for its Tech Innovators of the future.  The new age blockchain technology when combined with certain other factors like artificial intelligence, robotics, and automation, that always drive for innovation and add value through a variety of mechanism in place!!! So start learning and adapting to the new age fashion – Blockchain Technology!!

 

The blockchain technology has started gaining its footprints in financial transactions by using a virtual currency which is quite convenient likewise normal currency that you are using in your daily life.

A crypto-based debit card is on its way that you can utilize it without any public keys or QR codes. The credit for this technology goes to the advancement that has supported the technology. The simplicity prevails that transaction with the help of the technology that comes with both fiat cash and cryptocurrency.

Additionally, the crypto-based cards are acceptable at any shop that accepts it as a mode of payment as well as it can be used towards any ATMs in order to perform the transaction like to withdraw the cash. There are two companies Wirex and Monaco have started to offer the card facility as per the most valid source.

There are numerous benefits associated with the crypto-based card ranging from organizing shopping from a store to withdrawing cash through ATMs to earning cash-back on your purchases. At present, the crypto currency-based transactions are used through the online trading.

As compared to Fiat currency, in the crypto-based transactions, users did not get enough choices to use the virtual wealth until the crypto-based card has come into existence. Needless to that that the blockchain technology will change the way transaction happened in a traditional way.

Besides this, you would be able to earn cash back on a variety of purchases that you make through the crypto-based card. With this type of transaction, you will receive 0.5% in the form of Bitcoin (BTC) on the amount spent which you can convert it either into Fiat currency or leave it in the BTC form.

The crypto-based cards used at ATMs will help you convert it into the Bitcoin ATM due to its Chip & Pin functionality in place. With this, you will be allowed to withdraw cryptocurrency in the form of the bank’s currency with the ATMs through Wirex or Monaco cards. The system makes the process simpler that lets you do the transactions through both the cryptocurrency as well as fiat currency. Those who love cryptocurrency, the perspective is the best one to follow as it does not only organize the variety of transaction under the one roof, however it increases the adoption of a variety of cryptocurrency from the existing currency that is available in the market.

Now that the whole world has been using the debit and credit card facility for whatsoever purposes, the crypto based card will definitely adds value to one’s daily life by leveraging its full potential that they have in place. This will not only make the transaction simpler, faster, transparent however it will change the way businesses do world-wide.

Let us not forget that the blockchain technology has a great potential that one can use it for its personal as well as professional perspective!!

 

Have you ever imagined an exciting experience that you can realize with Starbucks however with cryptocurrency? Well, you won’t believe but your dreams may come true to buy coffee with cryptocurrency – Bitcoin through an American coffee and beverage retailer Starbucks Corporation. The company is associated with the world’s largest exchange operators – Intercontinental Exchange Inc. (ICE) that has organized a venture naming Bakkt which is designed to integrate and incorporate digital currencies into the commercial transaction globally. Amongst the huge wave that the crypto major Bitcoin attained last year, it is not widely used to trade actual goods in most of the countries around the world. When it comes to utilizing the blockchain technology, only a few have created a successful business model to scale up through cryptocurrency led transactions, however, there are many companies out there that have not been succeededd in this space as criticized by ICE.

According to the CEO of Bakkt, Kelly Loeffler, who was heading Intercontinental Exchange Inc. (ICE) so far, Bakkt promotes digital assets with greater efficiency, security, and utility for consumer, merchant and institutional clients and so it requires all of them under the one roof with a scalable business model of “Bakkt”. The open platform has been created by Bakkt that unlocks the huge transformative potential that the digital assets have in place across the markets globally.

 

With this, ICE wants to introduce a single day futures contract in the coming month mostly in November that differentiates derivatives transaction already provided by CME Group Inc. and Cboe Global Markets Inc. U.S. competitors. What differentiates ICE is the delivery model that it has in place where the owners of the contracts will get Bitcoin and not cash upon expiration. Let us not forget that the physical delivery is important to numerous players in the market especially those are in finance that don’t trust the unregulated markets where the trades executed through cryptocurrency. On the contrary, ICE is highly regulated so it gives an edge to think outside of the box and compete with the existing players with a variety of business models in place.

Needless to say that the other financing transactions companies are there in the market criticize the ICE’s concept.  Both the companies – Starbucks Corporation and Microsoft Corporation jointly offer consumers and institutions a variety of transactions like buy, sell with digital assets however under the one roof.

Additionally, all the stakeholders involved in the concept like ICE, a venture capital arm of Microsoft, investors in Bakkt may associate with the Fortress Investment Group, Galaxy Digital, Eagle Seven, Horizons Ventures, Alan Howard, Pantera Capital, Susquehanna International Group, Protocol Ventures as per the official source of ICE.

Let us not forget that as and when people have started recognizing the new technology, they would like to scale up and grow with it to the extent that the new technology may prove to be the cost-effective and long-term one!!

 

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.

 

 

Blockchain-based finance solutions enterprise in Hong Kong, IOHK recently launched its second Cardano smart contract called Testnet dubbed “IELE” on 30^th 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 Blockchain technology has become a hallmark for the industry globally.  A recent scenario reminisces about how blockchain technology adds value to the East African island nation’s state-owned company State Informatics Limited (SIL) by helping them digitize its government and financial services operations. Besides this, a variety of industry like, educational institutions, utilities and transport, port operations are among the industries that have started gaining the value of Blockchain technology.

As per the valid source of South Korean media – Digital Daily, State Informatics Ltd. is more inclined to utilize blockchain technology assisted by Locus Chain Foundation which is one of the renowned South Korean companies. It is also said that a South Korean blockchain company has executed a deal that is expected to offer fintech solutions to the government of Mauritius.

If we talk about the company, State Informatics Ltd may extensively utilize the blockchain platform as the company has already started implementing digitized solutions for government bodies in Zambia, Ghana, Kenya, Senegal, Botswana.

On the other hand Locus China that assists companies that would like to use blockchain technology has been active in Mauritius since early this year. Just a last month the company signed a technology cooperation agreement with the Mauritius government to allow for the new generation application called ‘Blockchain Technology”. The technology adds value by streamlining end-to-end transactions in seconds.

As per the most valid source, Locus Chain announced the agreement that it has executed with the Tunisia Economic City which is a joint project worth of USD 50 Billion with Saudi Arabian and Tunisian that will be the biggest smart city in the Mediterranean region that covers 90 square kilometers. Accordingly Locus Chain, the blockchain technology will be used in the city construction project and its products will be used as a base technology with settlement currency for a variety of industries like communication, shopping, finance, medical, etc.