1st October Blockchain Update

  1. Hodler’s Digest, September 23-30: Walmart Embraces Blockchain, Google Does 180 On Crypto-Ad Ban 

The U.S. tech giant Google is set to update its ad policy in October, re-allowing registered cryptocurrency exchanges located in the U.S. and Japan to advertise. According to the official announcement, starting in October, Google will allow registered cryptocurrency exchanges to advertise on its Google Adwords platform, targeting the U.S. and Japanese audiences.

  1. Australian Record Scalability Blockchain: How Crypto Is Stepping Into the Land Down Under

On Sept. 26, Australia’s National Science Agency (CSIRO), an independent Australian federal government agency responsible for scientific research, developed a blockchain network called Red Belly with the University of Sydney. They successfully conducted a pilot test on the Amazon Web Services (AWS) global cloud infrastructure, processing more than 40,000 transactions per second.

At 40,000 tx/second, Red Belly is able to process information on an immutable network at a capacity that is 6,666 times larger than the Bitcoin network and about 1,600 times bigger than the Ethereum blockchain network.

  1. Ripple Leads Crypto Coalition Seeking Gov’t Oversight Encouraging Crypto, Blockchain

Ripple will lead a group of crypto startups to lobby lawmakers and financial regulators in D.C. to support crypto and blockchain innovation

According to the report, the coalition of San-Francisco-based crypto firms is planning to pay Klein/Johnson Group, a bipartisan lobby group, to assist the crypto and blockchain community in conveying to regulators that the industry needs support from the government.

  1. Chinese Ecommerce Giant Opens Institute for Building ‘Smart Cities’ With Blockchain and AI

A division of Chinese e-commerce giant JD.com, JD Finance, has established the Smart City Research Institute at its headquarters in Nanjing.

Jingdong Group (JD.com) is a Chinese e-commerce company that focuses on new technological implementation in e-commerce, logistics, and finance. With the new Institute, JD.com aims to facilitate the development of “smart city” construction with the use of artificial intelligence (AI), big data, and blockchain technologies.

  1. Sierra Leone, United Nations to Develop Blockchain Digital ID System

Two of the United Nation’s wings are joining hands with Sierra Leone government to build a blockchain-based ID system for their seven million people.

The UN Capital Development Fund (UNDCF) and the UN Development Programme (UNDP) have entered into a partnership with  Kiva, a technology nonprofit. Kiva will lend its institutional protocol of the same name to implement the “Credit Bureau Of The Future.” It would allow Sierra Leone citizens to have complete and secure ownership of their identities, similar to blockchain assets in a decentralized network like that of Bitcoin.

  1. Blockchain Could Help Africa’s Commodity Market, Claims Chinese Billionaire

Chinese billionaire and co-CEO of technology company Ideanomics Bruno Wu believes the blockchain could be the solution that helps African countries trade their minerals and natural resources efficiently and profitably.Wu made the comment while speaking to entrepreneurs and investors at the Africa House Collective event, held in New York recently.

Wu’s company Ideanomics, formerly called Seven Starts Cloud Group, has invested heavily in artificial intelligence and blockchain companies through companies they acquired and partnered with. The tech company uses the new technologies to disrupt new markets. The U.S. based company recently announced a joint venture that removes intermediaries in the port supply chain.

  1. Bill Clinton: ‘Permutations and Possibilities of Blockchain are Staggeringly Great’

Former U.S. President Bill Clinton said that the “permutations and possibilities of blockchain technology are staggeringly great,” at Ripple’s annual Swell conference in San Francisco on October 1.

While Clinton acknowledged the potential of disruptive technologies like blockchain, the former president urged that economic and social policy “work better as positive sum games.” Clinton contextualized the new technological developments within the currently polarized political cultures of the U.S. and Europe:

  1. Korea’s Largest VC Firm Makes First Investment in Enterprise Blockchain Startup

South Korea’s largest venture capital (VC) firm, Korea Investment Partners (KIP), is investing in its first blockchain startup, TEMCO, according to an October 1.

KIP is known for its investments in high-ranking firms that include Naver — Korea’s largest search engine, as well as owner of the popular Japanese messaging app LINE — and Korean messaging giant Kakao, among others. Both LINE and Kakao have made multiple inroads into the crypto space, with the former launching its own crypto token and exchange, and the latter establishing its own blockchain subsidiary.

  1. Enterprise Ethereum Alliance and Hyperledger Enter Formal ‘Association’ Agreement

The Enterprise Ethereum Alliance (EEA) and Hyperledger announced October 1 they would join each other’s organizations as “Associate Members” in order to support enterprise blockchain adoption.

The EEA, an enterprise blockchain organization created in March 2017 by Santander, JPMorgan, and a variety of other members, focuses on improving the privacy, scalability, and security of Ethereum (ETH) blockchain applications.

 

 

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