23rd July Blockchain Updates…

  1. JPMorgan Wants to Use Blockchain to Issue ICO Tokens

American investment banking giant JPMorgan Chase is pursuing a patent for a distributed system that uses blockchain technology to issue virtual depository receipts that sound suspiciously like initial coin offering (ICO) tokens.

  1. Barclays Pursues Blockchain Patents to Create Digital Currency Network

Barclays, the UK’s biggest bank, has applied for three U.S. patents that collectively outline a system that uses blockchain technology to combine the pseudonymity of cryptocurrency with the legacy financial system and its KYC/AML regime.

The London-based bank first applied for the three patents in July 2016, though they were only published by the U.S. Patent & Trademark Office (USPTO) on Thursday.

  1. ‘World’s First’ Trade Blockchain Launches in Singapore to Link China and ASEAN Nations

A Singapore-based e-government service provider – notably owned by a government body and a port operator – has launched a blockchain platform focused on cross-border trade between ASEAN nations and China.

  1. Blockchain Phones Calling the Future of Telecommunications

The emergence of blockchain technology has piqued the interest of a number of different sectors across global society. From finance, politics, economics, automotive and technology, blockchain is starting to take root. It is now being seen that communications could be the latest sector to benefit from this technological revolution.

There has been a predictive report that came out on July 11 from MarketWatch that is suggesting that blockchain technology will contribute as much as $1 billion to the telecommunications sector in the next five years.

  1. The blockchain begins finding its way in the enterprise

the fancy of major enterprise vendors with the likes of SAP, IBM, Oracle, Microsoft and Amazon all looking at providing some level of Blockchain as a service for customers.

While the level of interest in blockchain remains fluid, a July 2017 survey of 400 large companies by UK firm Juniper Research found 6 in 10 respondents were “either actively considering, or are in the process of, deploying blockchain technology.”

  1. New Blockchain-Based Renewable Energy Pilot to Power 500,000 Homes

Swytch, a blockchain-based energy platform will work with Energy2market GmbH (e2m), a leader in aggregated energy trading, on a pilot program which will allow it to power homes in Germany with renewable energy while rewarding users with tokens.

The large-scale pilot program aims to distribute roughly 3.5Gw of solar, wind, hydro and bio-gas energy capacity, which is enough to power over 500,000 homes.

  1. Expanding the Practical Use of Blockchain Technology Within Insurance

The Institutes RiskBlock Alliance is a consortium of industry experts who seek to advance “insurance-specific use cases via RiskBlock’s interoperable blockchain architecture.” RiskBlock was created by The Institutes, a leading and trusted insurance knowledge group committed to developing the risk management and insurance industry.

Accenture is a professional services firm that helps clients improve performance and create sustainable value, while driving innovation that enhances the way the “world works and lives.”


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