17th Oct Blockchain Updates…

  1. Scalability Study: DLT Can Support Daily Trading Volume of US Equity Market.

A recent study by the Depository Trust & Clearing Corporation (DTCC), a post-trade financial services firm, has found that distributed ledger technology (DLT) is scalable enough to support daily trade volumes of the U.S. equity market.

The blockchain scaling problem is growing along with the increasing popularity and public awareness of cryptocurrencies as there is a risk the technology will not be able to keep up with demand. The largest cryptos Bitcoin (BTC) and Ethereum (ETH) use limited sized blocks to process transactions. The more transactions that are performed, the more data each block carries, which can lead to buckling.

  1. Toyota Uses Blockchain Tech to Reduce Fraud in Digital Advertising Campaigns.

Japanese car manufacturer Toyota has partnered with blockchain advertising analytics firm Lucidity to cut down on fraud when buying digital ads.

Formerly known as KR8OS, Lucidity was founded in 2017 in Los Angeles and offers an Ethereum blockchain solution to track supply chain payments, so advertisers can monitor how their funds are allocated.

  1. Abu Dhabi Ports Subsidiary Tests International Blockchain Pilot with Port of Antwerp.

A subsidiary of the major U.A.E. seaport operator Abu Dhabi Ports has launched an international blockchain pilot with the Port of Antwerp.

Following a Memorandum of Understanding (MoU) signed between Abu Dhabi Ports subsidiary Maqta Gateway and the Port of Antwerp, the companies will run a pilot of a blockchain project called Silsal. According to the project, both entities will handle international trade documentation by deploying distributed ledger technology (DLT).

  1. Brazilian Presidential Candidate Uses Blockchain to Publish Government Plan.

Fernando Haddad, the presidential candidate for the Brazil Workers’ Party, has published his government plan via blockchain.

According to the release, Haddad decided to use blockchain technology for disseminating information about his presidential campaign after a long-term struggle with fake news reports. As information stored on a blockchain cannot be altered or compromised, he decided to store the data on a decentralized platform.

  1. Australian State of New South Wales Mandates Land Registry Shift to Blockchain by 2019.

The government of the Australian state of New South Wales (NSW) is set to complete a proof-of-concept (PoC) for a blockchain-based land registry system by summer 2019.

The new PoC is expected to be completed by the NSW Land Registry Services – together with Stockholm-based blockchain startup ChromaWay – by early 2019. The NSW state government is said to have given its official mandate for the Registry to shift to the new blockchain-based eConveyancing system by July.

  1. Baidu-TRON ‘Partnership’ Involves Cloud Computing Provision, Not Blockchain.

The report, as cited and translated by local crypto news source CNLedger, states that Baidu Cloud and TRON have closed a deal to cooperate in terms of “basic cloud business”; it claims that both parties will work to maximize intercompatibility and “to build, operate and debug blockchain products” based on Baidu Cloud.

  1. Telegram to Debut ‘Test Version’ of Blockchain Platform TON ‘This Autumn,’ Say Investors.

Encrypted messenger service Telegram will release a test version of its blockchain-based TON platform this autumn.The company said that the platform’s blockchain component was currently under development, with “70 percent” of the product already finished.Once in operation, TON will also make use of its in-house cryptocurrency, Gram, and will form a “new way of exchanging data.”

  1. Kenyan Gov’t to Use Blockchain in New Affordable Housing Project.

Kenya’s government plans to deploy blockchain technology to manage a government housing project of 500,000 units.

Within the affordable housing program the government of Kenya reportedly aims to build 500,000 units by 2022, and assist contributors earning less than 100,000 Kenyan Shillings ($992) as they cannot afford mortgages. According to the Star, out of the 2.48 million Kenyans employed in 2016 only 77,000, or 3.1 percent, earned over Sh100,000.

The Star reports that blockchain technology will be used to ensure the proper distribution of housing to deserving participants in the program and address issues of graft from both legislators and beneficiaries.

  1. Major Korean Financial Holding Company Wins Blockchain Patent for Improved Fintech Security.

Leading South Korean financial holding company KB Financial Group Inc. has been awarded a patent for a blockchain-based fintech app security solution.KB Financial is reported to have over $342 billion in assets under management and presides over multiple overseas and domestic subsidiaries, among them KB Kookmin Bank, the country’s largest bank and also the 60th largest bank globally as of 2017.

 

 

 

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