4th August Blockchain News Update…

  1. Turkey Establishes Country’s First University Blockchain Centre.

Turkey has established the country’s first university-level blockchain centre, aiming to close the blockchain expertise gap and ensure wide deployment of the technology.

The Istanbul Blockchain and Innovation Center (BlockchainIST Center) was inaugurated at Bahçeşehir University (BAU). According to the center’s director Bora Erdamar, BlockchainIST is set to be “the most important center of research and development and innovation in Turkey in which scientific studies and publications are made in blockchain technologies.”

Erdamar said that Turkey may have a chance to become the leading country in technology that will “transform humanity.” He underlined the importance of cooperation with other educational establishments, businesses, and government institutions in order to conduct proper blockchain research and examine possible use cases.

  1. Japan’s Tech Giant Sony Offers Solutions for Boosting Blockchain Hardware in Two Patents.

Japanese electronics giant Sony has filed two patents for boosting blockchain-based ecosystems, according to filings 20180218027 and 20180219686 published by the U.S. Patent and Trademarks Office (USPTO) Aug. 2.

Through the patents, Sony intends to improve the design and structure of blockchain hardware by introducing new circuitries to the processes of distributed ledger technology.

The first application, entitled “Electronic Node and Method for Maintaining a Distributed Ledger,” describes an electronic device for maintaining a blockchain based on multiple electronics nodes, including multiple blocks associated with at least one of the existing blocks.

  1. Recent Walmart Patent Application Describes Blockchain-Managed Smart Appliances.

U.S. retail giant Walmart has applied for another patent, which describes the management of smart appliances using blockchain technology, according to an application published by the U.S. Patent and Trademark Office August 2.

The application outlines systems and methods for managing smart appliances such as a desktop or server computer, a kiosk, a table top device, or more portable computing devices, such as a wearable or gaming devices, laptop computers, or portable media players.

From a practical perspective, users will employ a device, whether it is wearable or not, that maintains the private key used to authorize a transaction. One use case described was a kiosk for receiving packages from delivery drones.

  1. Korea’s Financial Watchdog Calls for Stock Trading on a Blockchain

South Korea’s primary financial watchdog has backed the use of blockchain technology as the core infrastructure for trading stocks in the country.

First reported by domestic news publication Korea Joongang Daily, the Financial Supervisory Service (FSS) has advocated the use of blockchain for stock trading in a report focused on the subject released on Thursday. In a significant backing of the technology, the FSS called on the country’s regulatory agencies and firms to jointly work and develop an integrated blockchain system that negates the use of a conventional centralized ledger and system to track transaction.

  1. Think-tank: Business Value of Blockchain to ‘Reach $2 Trillion by 2030’

IHS Market, a data analytics firm in the fields of finance and technology, released a July report that forecasts blockchain technology could lead to a business activity value of $2 trillion by 2030. The report includes all value that blockchain adds as an entire vertical (not specific coin market caps).

According to the report, key sectors driving blockchain business value include:

  • Banks and financial institutions
  • Supply chain and logistics suppliers
  • Advertising and media companies
  • Government and public-sector
  • institutions
  • Power and energy companies
  • Retail and e-commerce
  • Regulators
  • Software specialists and developers
  • Telecom operators and MNOs
  • ICOs and cryptocurrency experts
  1. Dubai Looks to Disrupt its Entire Legal System with ‘Court of the Blockchain’

The Dubai court system tasked to oversee all civil and commercial disputes involving financial transactions both domestically and internationally is turning to blockchain technology to “create the world’s first disruptive court”.

The Dubai International Financial Center (DIFC) Courts has announced its plan “to create the world’s first Court of the Blockchain” in a partnership with the government’s Smart Dubai initiative that it says will fundamentally reshape the judicial process in the future. The pivot to a “blockchain-powered future” will bring “greater efficiencies across the entire legal ecosystem,” the authority said in a statement.

  1. Australian ‘Big 4’ Bank Taps Ethereum Blockchain for 17-Ton Almond Shipment to Germany

The Commonwealth Bank of Australia (CBA) has announced the successful completion of a global trade experiment involving a shipment of 17 metric tonnes of almonds from Australia to Germany using blockchain tech.

The CBA, one of Australia’s so-called “Big Four” banks, announced the successful blockchain-powered shipment of the international trade endeavour involving the bank and five Australian and international supply chain leaders on Monday.

specifically, the CBA developed a private blockchain platform based atop the Ethereum network to facilitate the real-world global trade experiment which included real-time tracking of the shipment from the packer and the originating shipment in Victoria, Australia, to its delivery in Hamburg, Germany.

The purpose-built blockchain fundamentally ‘digitizes three key areas of global trade’, the CBA explained, pointing to operations, documentation, and finance wherein all records of the ‘container information, completion of tasks and shipping documents’ are recorded and shared on the decentralized ledger.

  1. Chicago Blockchain Project to Hold First Voice of Blockchain Event

Chicago Blockchain Project (CBP) announced today that it will be hosting its first Voice of Blockchain conference on Aug. 24 and 25 at Chicago’s Navy Pier. The event will be held in partnership with Chicago-based tech co-working space 1871 and decentralized democratic governance protocol Democracy Earth.

“Voice of Blockchain is a two-day conference gathering industry influencers, leaders in blockchain, government and business and 5,000 attendees to shape the ongoing conversation on blockchain today,” according to a press release published by CBP on July 31.


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