Wall Street Blockchain Alliance Launches Enterprise Solutions Working Group

One of the largest non-profit trade associations is moving forward to encourage blockchain adoption globally. In a recent release, the Wall Street Blockchain Alliance (WSBA) is all set to launch the Enterprise Solutions Working Group (EWG).
WSBA and the Excitement About the Launch
WSBA’s website claims that “it is a non-profit trade association” and a brainchild of financial market professionals built for financial market professionals. The firm embraces blockchain technology all around by regularly engaging with policymakers, regulators and technology innovators. The new group will be headed by Chief Andrea Tinianow, Esq, who is a Chief innovative officer and Executive Vice President for Global Kompass Strategies, a US-based firm. He is also behind the development of Delaware Blockchain Initiative which is, however, the first blockchain initiative in the row of government activities.
Chairman of the WSBA, Ron Quaranta, excited about the launch,
“We are very excited to launch the Enterprise Solutions Working Group, as it ties together the groundbreaking work that the organization is already undertaking with practical, tangible, and actionable insights that our members can use to ‘make blockchain real’ within their organizations. Furthermore, we are honored to have Andrea serve as the inaugural chair of this important body, as there are few individuals in the space more experienced and driven than she. I am sure that our members will greatly enjoy working with her.”
The Work Mechanism of EWB
The EWB will work in collaboration with other bodies of WSBA which may include Legal, Accounting, Crypto Assets, and Product & Technology Working for Groups. With EWB, experiments on key concerns will be taken care on crucial topics like governance, technology alternatives, business models, technical aspects of implementations and obtaining support from stakeholders. However, the meeting would conduct twice a week to discuss the possible issues and challenges that may come across while implementing blockchain technology. Moreover, the conference aimed at sharing the lessons learned from the real-life examples as well as the takeaways among the group and organization all over.
Chair of the EWG, Andrea Tinianow explains WSBA and EWG,
“The WSBA is an outstanding resource for advisors, practitioners, and developers in the blockchain space. I am excited and privileged to lead this important group into what promises to be a critical year for blockchain technology adoption within financial services. The EWG will be a forum for members to share experiences, exchange ideas and collaborate on related projects in support of the successful implementation of blockchain technology at the enterprise level.”
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Source: CoinGape

Why Should Central Banks Support Digital Currency Adoption?

Cornell University professor Eswar Prasad embraces digital currency and suggests Central Bank to issue their own digital currencies. The statement reads “issuing digital currency will enable central banks to stabilize the economy and still remain in money game.
Cryptocurrency Adoption can assist central banks
Prasad is a former chief of IMF China division who often appears on the crypto bulletin. He said the use of digital currency is a source of creating money, counting that;
“If you look at certain economies like Sweden where the use of cash is very fast disappearing, central banks may have a very little role to play both in terms of wholesale as well as retail payment systems — so this would keep central banks in the business of creating money.”
Major countries are already focusing on issuing their own digital currency within the country. Various countries are heading up with an array of missions such as to fight against illegal activity, to promote cashless payment, encourage privacy concern and more. Mr.Prasad emphasized prominent banks like The Federal Reserve, Bank of Japan and European Central Banks were in a discussion to “step-back approach”.
He highlighted that if the central bank would issue digital currency, it would analyze illegal activity lined with cash and imposing nominal rates on such acts. He also pointed out the “decentralized nature of digital currency” which will disappear the involvement of commercial banks for retail payments, hacking and avoiding the risk in implementation.
Central Bank Digital Currency (CBDC) concept is likely to solve existing issues of privacy concerns. On top of all, it will also set itself as the new payment system.
When it comes to countries launching their own cryptocurrency, Venezuela, Senegal, Tunisia, and The Marshall Islands pops up as the major nations. While Iran is still in process to launch its own state-backed cryptocurrency, trading platforms like BitMex, Bittrex, and Binance are harsh on crypto trading for Iranians.
Do you think that cryptocurrency will have a wider adoption to contribute to the overall benefit of society if Central banks are adopting it? Let’s discuss
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Source: CoinGape

Oxfam Officially Launched Blockchain Projects for Farmers

According to the official announcement, Oxfam, a global charity firm has successfully launched a blockchain project to empower the custodian rice supply chain. The new blockchain program is called BlocRice which connects buyers and suppliers on an open network. The App aims to help farmers achieve the more negotiation power to enhance the efficiency of the supply chain. Before the prior launch, the project has gone through successful trials in Cambodia.
Blockchain to Track Agricultural Products
In a statement, Oxfam reads that;
“The project aims to test blockchain technology and its smart contracts, a digital three-way contract farming arrangement between primary producer, Cambodian rice exporter, and retailer in Europe, to improve farmers’ livelihood and their supply conditions,”
Adding,
“Farmers gain collective bargaining power since agricultural cooperatives will be party to the contracts,”
BlocRice – To Promote Cashless Payment
An inbuilt blockchain based App is focusing on trace-ability and transparency which keeps farming players in a row. As per the report, the project will work with 50 rice farmers in Cambodia’s Preah Vihear province. With this, the project encourages cashless payment. The pilot phase of the project will be first introduced to the farmers. In order to successfully complete the proposed plans for farmers, the biggest local commercial bank, Acleda Bank is supporting the move. As a result, more followers have already opened the accounts with FinTech.

Today, 50 farmers, Preah Vihear province, are opening wallet accounts with ACLEDA bank for their cashless payment of their organic rice selling in the upcoming harvest time. This will help reducing traveling time and paper work transaction and minimizing security risk. #BlocRice pic.twitter.com/AW04HtxWpA
— Oxfam in Cambodia (@OxfamKH) August 17, 2018

Presently, the pilot project is limited to organic rise and it is expected to expand other agriculture products in the future. Cashe nuts, cassava, pepper are few of the products the project may consider. On top of all, Oxfam predicts the number of farmers participating in BlocRice will rise up from 1000 by 2020 to 5000 by 2022.
The information shared through a blockchain based system will ensure a transparent and trusted relationship between parties including farmers, Cambodian rice exporters and Dutch importers.
However, it also encourages economic empowerment. The official notes follow as;
“BlocRice promotes the use of such digital contracts as tools for social and economic empowerment. The application of blockchain technology is expected to enhance the negotiation power of small-scale farmers in their rice value chains, who are usually poor primary producers,”.
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Source: CoinGape

KuBitX Set to Lead African Blockchain Revolution

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KuBitX Set to Lead African Blockchain Revolution

KuBitX, a hybrid digital asset exchange, is to offer a completely new way of cross-border transfers for African countries with the help of blockchain.

KuBitX Set to Lead African Blockchain Revolution

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Bitcoin Price & Technical Analysis: BTC under Harsh Pressure

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Bitcoin Price & Technical Analysis: BTC under Harsh Pressure

The major crypto continues falling on Thursday, trading at around $5,768, says Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

Bitcoin Price & Technical Analysis: BTC under Harsh Pressure

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Zcoin To Host Live E-voting On Blockchain For The First Time

Thai Democratic Party would be the first player in the voting system to employ blockchain technology for a live e-voting. According to resources, Zcoin Blockchain will put in place to run e-voting system on November 1 to 9.
Voting Via Cryptography
Members during elections can vote in two methods – Raspberry Pi-based voting system which is a nationwide voting system and later using blockchain application. Consequently, the decentralized app is dubbed D-Elect enable voters to submit their Photo ID as a proof. Besides, members need to submit identification documents and voting tallies.
Then the process follows like;

This voting information or datasets will be processed and stored over a decentralized file system
This distributed mechanism will create IPFS (InterPlanetary File System) hashes that store a huge volume of data
Later, these IPFS hashes were stored on Zcoin blockchain technology.
Zcoin’s blockchain provides seamless audit access to the Thai Election Commission and Democrat Party Candidates.

Poramin Insom, Zcoin developer said in a statement
I am very proud that Zcoin played a role in making Thailand’s first large-scale e-vote, a reality, which saw greater voter participation and transparency.
Moreover, to assure the security during voting system, Shamir’s Secret sharing Scheme was put in place that demands multiple keys in order to access any stem. The scheme would require multiple custodians to decrypt voting datasets which marked a great success to blockchain applications for election system. Not just Thailand, West Virginia was also looked up as a country to employ blockchain app for midterm federal election for trial purpose.
Cryptocurrency and ICOs where regulators of major countries pop up the red light, blockchain technology, on the other hand, heads up by signaling green. Poramin Insom, Zcoin founder and lead developer intends to employ blockchain technology across large-scale e-voting as well.
What’s your view on Blockchain adoption for voting system? Let us know in comment below 
The post Zcoin To Host Live E-voting On Blockchain For The First Time appeared first on Coingape.
Source: CoinGape

Directed Acyclic Graph: the Future of Blockchain Development

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Directed Acyclic Graph: the Future of Blockchain Development

This article, developed by blockchain expert and technical architect Akash Takyar, explores the future of blockchain and explains why Directed Acyclic Graph could be called Blockchain 3.0.

Directed Acyclic Graph: the Future of Blockchain Development

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Oil Industry Giants Shell and BP to Fully Automate Energy Trading Processes Using Blockchain

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Oil Industry Giants Shell and BP to Fully Automate Energy Trading Processes Using Blockchain

A group of oil industry giants including Shell and BP are launching a blockchain platform to facilitate post-trade processes.

Oil Industry Giants Shell and BP to Fully Automate Energy Trading Processes Using Blockchain

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Australia Set to Make Money ‘Smart’ Using Blockchain

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Australia Set to Make Money ‘Smart’ Using Blockchain

The Commonwealth Scientific and Industrial Research Organization’s (CSIRO) Data61 division and Commonwealth Bank of Australia (CBA) have announced that they have successfully trialed a new type of blockchain-powered smart money.

Australia Set to Make Money ‘Smart’ Using Blockchain

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Accenture Rolls Out a New Software License Management App Based on Blockchain

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Accenture Rolls Out a New Software License Management App Based on Blockchain

Leading management consultancy firm Accenture has developed a blockchain-based application created to manage and track software licenses.

Accenture Rolls Out a New Software License Management App Based on Blockchain

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Blockchain Update: MAS and Singapore Exchange (SGX) Implement Blockchain Successfully for Settlement of Tokenized Assets

Bitcoin’s underlying technology, blockchain is exponentially rising across the world. As such, Singapore based Exchange, Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) is successfully leveraging the blockchain technology. The goal is to enable trading of tokenized assets across multiple blockchain platforms.
Trade tokenized assets across multiple blockchain platforms
Report in brief:

MAS and SGX successfully developed DvP for tokenized assets
DvP developed with major technology partners; Deloitte, Nasdaq, and Anquan
A joint report on DvP settlement was published by MAS and SGX with smart contract

As per the report, MAS and SGX will facilitate Delivery versus payment (DVP) for cross successful settlement of digital securities. Consequently, securities will be bought and sold via smart contract over numerous platforms based on blockchain technology. Moreover, it allows Fintech and corporate investors to successfully end up on simultaneous exchange and settlement. The firms believe that the process would reduce settlement risk whilst increasing operational efficiency.
As a support, Anquan, Deloitte, and Nasdaq appeared as the technology partner to appreciate DvPs capabilities.
Sopendu Monhanly, MAS chief fintech officer stated that;
“Blockchain technology and asset tokenisation are fuelling a new wave of innovation globally. This project has demonstrated the value of blockchain technology and the benefits it can bring to the financial industry in the short to medium term. The concept of asset tokenisation, as well as other learnings gleaned from this project, can potentially be applied to a broad spectrum of the economy, creating a whole new world of opportunities.”
On the other hand, Ms. Tinku Gupta, Head of Technology at SGX and Project Chair appreciated the initiative, said in a statement,
“We are delighted to drive this important industry effort to accelerate innovation in the marketplace. Based on the unique methodology SGX developed to enable real-world interoperability of platforms, as well as the simultaneous exchange of digital tokens and securities, we have applied for our first-ever technology patent.”
Technically, DvP is a process wherein the buyer gets money as security beforehand the asset is released. MAS and SGX’s step to leverage blockchain is to ensure DvP becomes more secure and efficient.
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Source: CoinGape

Blockchain Ecosystem Cryptaur Features in Top Crypto Media as ‘Top E-Commerce Project’

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Blockchain Ecosystem Cryptaur Features in Top Crypto Media as ‘Top E-Commerce Project’

Cryptaur, a digital space for direct supplier-consumer interaction, continues its way to success being rated a ‘top e-commerce project’ by top crypto-related media.

Blockchain Ecosystem Cryptaur Features in Top Crypto Media as ‘Top E-Commerce Project’

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New Futuristic City Running on Blockchain Technology to be Established in Nevada

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New Futuristic City Running on Blockchain Technology to be Established in Nevada

Cryptocurrency millionaire Jeffrey Berns has acquired more than 67,000 acres of land in northern Nevada for building a new city that would run entirely on blockchain.

New Futuristic City Running on Blockchain Technology to be Established in Nevada

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Ex-Google CEO: Ethereum Has a Tremendous Potential

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Ex-Google CEO: Ethereum Has a Tremendous Potential

Former Google CEO Eric Schmidt recently revealed that he’s a fan of blockchain technology and digital currencies, specifically referencing the likes of Bitcoin (BTC) and Ethereum (ETH).

Ex-Google CEO: Ethereum Has a Tremendous Potential

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Japan’s NRI Presents Its New Blockchain Security Tool, Becomes ConsenSys‘ Development Partner

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Japan’s NRI Presents Its New Blockchain Security Tool, Becomes ConsenSys‘ Development Partner

Nomura Research Institute’s cybersecurity subsidiary revealed its new security tool called “Blockchain Security Monitoring Service” and confirmed its partnership with ConsenSys.

Japan’s NRI Presents Its New Blockchain Security Tool, Becomes ConsenSys‘ Development Partner

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