LG, Govt. Mint to Launch South Korea’s ‘First Public Blockchain Platform’

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! LG CNS, the IT subsidiary of electronics giant LG, has been handpicked by South Korea’s minting corporation to establish a blockchain platform for the public sector to provide a number of services including issuing a community token to the masses. As reported by Business Korea, LG CNS won the order from the Korea Minting, Security Printing & ID Card Operating Corp (KOMSCO) on Sunday to develop and launch the country’s first blockchain platform for…

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Abu Dhabi Securities Exchange Partners UK FinTech for Blockchain Applications

The Abu Dhabi Securities Exchange has inked a partnership with Equifax, a UK-based fintech company that provides blockchain technology services for capital markets. Equichain will be advising ADX on the best way to use new technologies including blockchain to increase the operational efficiency of the exchange in terms of transaction speed and security. ADX Chief Executive Rashed Al Blooshi released a statement on Monday saying: “The open exchange with Equichain and members of the working group will allow us to identify and test new applications of blockchain technology, aiming to…

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Korean Banks to Use Samsung SDS Blockchain to Verify Customer IDs from July

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! A national banking group representing South Korea’s commercial banks will launch a customer ID verification powered by blockchain technology in July. The Korea Federation of Banks (KFB) will officially launch “BankSign”, a blockchain-based identity verification platform that will enable retail domestic banks to improve a decades-old verification system with digitization in both online and mobile banking, the Korea JoongAng Daily confirmed. Until this year, Korean banks were forced to use a 20-year old public…

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Ant Financial Raises $14 Billion to Boost Blockchain Development

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! Alibaba subsidiary Ant Financial just cashed-in on a historic $14 billion Series C funding round, and the Alipay creator says that part of this warchest will be used to boost blockchain development. Ant Financial announced last Friday it has reached a definitive agreement with its investors for its Series C in the total amount of $14 billion. This funding comes from both domestic and foreign investors — The Wall Street Journal reports $11 billion…

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Blockchain Cannot Yet Support Financial Market Infrastructure

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! De Nederlandsche Bank (DNB), the central bank of the Netherlands, recently concluded after a three-year test that blockchain technology cannot currently meet the needs of a financial market infrastructure, the bank announced on its website. The report cites bitcoin technology’s inadequacies in the areas of capacity, its high energy consumption and insufficient certainty of transaction verification. The DNB does consider the technology useful in improving resilience to external attacks, but at the expense of…

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Switzerland’s ‘Crypto Valley’ Set To Test Blockchain Voting

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! Residents of the Swiss city, Zug, will use the city’s eID system to vote using their smartphones this month as part of a blockchain based voting test, according to the Swiss Broadcasting Corporation. From June 25 to July 1, residents will download an app to register to vote. The city, home to what’s known as the “Crypto Valley” because of its numerous blockchain startups, established its eID system last November and already has close…

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UK National Archives to Test Blockchain Tech for Official Record Keeping

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! The UK government’s official record-keeper, the National Archives (TNA) will be using blockchain technology to create a way to verify the accuracy of archived documents. The project, called ARCHANGEL is one of three blockchain projects the University of Surrey has won, the other two being voting and healthcare. Digital Archives Challenged Digital archiving is challenging because computer files continuously change and become obsolete, the National Archives blog noted. A digital file from the late 1990s,…

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Blockchain Startup R3 May Run Out of Money by Next Year: Report

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Enterprise blockchain startup R3 is burning through cash at a breakneck pace and could be out of money by the first quarter of 2019, sources say. R3 Could Be Out of Money by 2019: Report Citing interviews with two former employees, Fortune reports that R3 — which in 2014 launched a high-profile banking consortium that sought to make blockchain technology palatable to the legacy financial sector — has run through nearly all of the $132 million it…

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Mastercard Wins Patent for Blockchain Travel Itinerary Bidding System

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Financial services giant Mastercard has won a patent for a blockchain system that allows travelers to submit desired itineraries and merchants to submit bids for each service request. The patent, awarded to Mastercard by the US Patent and Trademark Office (USPTO) on June 7, aims to streamline the global travel industry by connecting travelers to a wider range of hotels, airlines, and other service providers than most currently do prior to booking their itineraries — even when…

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Japanese I.T. Giant Fujitsu Unveils Blockchain Platform for Retailers

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Japan’s I.T and computing equipment giant Fujitsu announced the launch of the cloud-based  Fujitsu Intelligent Society Solution Blockchain Asset Service on June 6, 2018. Fujitsu’s Blockchain Push Via an official announcement, the company revealed its plans for the use of blockchain technology in retail sectors – such as digital points, stamps, and coupons – aimed towards tourist sites, markets, and shopping centers. Using the service, customers will be able to collect digital stamps by scanning QR codes…

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