Thailand Studies Blockchain for Applications in Intellectual Property, Trade Finance

Two feasibility studies on blockchain technology have been launched by Thailand’s Ministry of Commerce. The studies, which will focus on exploring the use of blockchain technology in trade finance and the registration of intellectual property, are expected to be completed in February 2019, per the Bangkok Post. According to Pimchanok Vonkorpon, the director of Thailand’s Trade Policy and Strategy Office (TPSO) which falls under the commerce ministry, the project has received support from the British Embassy. Increasing Efficiency and Trust With regards to trade financing, Pimchanok pointed out that blockchain…

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Airports Plenty Interested in Blockchain Applications, Study Reveals

A new study has shown that the blockchain technology appears to be gaining traction, and attention in the airline industry. Per reports from airline focused magazine, Airport World, data from SITA Lab has revealed that blockchain technology attracted the most research attention in the industry in 2018. SITA, a technology research company responsible for stimulating technological revolution by collaborating with airlines, airports, and technology specialists globally—opined that distributed ledgers are more efficient and give an advantage when it comes to rendering airline services such as passenger identification, ticketing and more.…

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Dubai to Launch Blockchain Payments with State Digital Currency ‘emCash’

Dubai residents will soon have the means to make payments for school fees, bills and other retail purchases with emCash, a state-developed blockchain-based digital currency. The UAE’s first official credit bureau – emCredit – under the Dubai Department of Economic Development is pushing its official blockchain-encrypted state digital currency emCash for wider adoption by rolling out point-of-sale (PoS) devices at government storefronts across Dubai. PoS devices will also be deployed at retail storefronts, enabling both citizens and residents of Dubai to make purchases following a partnership with blockchain payments provider…

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IBM’s Food Blockchain Is Going Live With a Supermarket Giant on Board

IBM is taking its food-tracking blockchain into production, making it one of the largest enterprise projects to achieve that milestone, and has signed European supermarket giant Carrefour to use it. Announced Monday, the commercial launch of IBM Food Trust means that large players, as well as small and medium-size enterprises (SMEs) in the food industry supply chain, can now join the network for a subscription fee ranging from $100 to $10,000 a month. And many SMEs may have a stronger incentive to participate to participate now that Carrefour, which operates 12,000…

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China to Drafts for Three Domestic Blockchain Standards in 2018

The China Electronics Standardization Institute (CESI), a government organization under the country’s Ministry of Industry and Information Technology (MIIT), plans to release three blockchain standards for smart contracts, privacy and deposits as a way to improve the country’s development of the blockchain industry. The standards, which would be association based, were announced by Li Ming, a director of the research lab, during a recent presentation to Deep Tech, a Chinese media outlet, according to China Money Network. The standards, which include basic standards, information security standards, process and method standards,…

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Blockchain as a Service Market to Reach $7 Billion

A recent analysis by Bank of America’s Kash Rangan suggests that blockchain adoption will become a multi-billion dollar business. Tech giant Microsoft already offers BaaS (Blockchain as a service) tools and services through Microsoft Azure which launched in 2015. Microsoft’s Azure includes a ‘sandbox’ where developers can test their apps before launch as well as various tools designed to streamline the development process. Azure customers have access to the Ethereum blockchain after Microsoft partnered with ConsenSys, a decentralized collective of Ethereum coders launched by Ethereum co-founder Joseph Lubin. ConsenSys works to create…

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Blockchain Use in the Life Science Organizations has Tripled Since 2017: Survey

Blockchain adoption in the life sciences has risen exponentially in the last one year despite the existence of significant barriers. According to The Pistoia Alliance, a global nonprofit of life science firms, 60% of the professionals in the pharmaceutical and life science sector are either currently using blockchain technology or at least experimenting with it. This compares to a figure of 22% recorded when a similar survey was conducted in the sector last year by the nonprofit. For the remaining 40% who have no plans of implementing blockchain, there were…

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BlackBerry to Launch Blockchain for Medical Data Sharing

BlackBerry Limited has now come up with a blockchain solution for secure data sharing among healthcare providers in order to improve patient outcomes. The company is using its network operation center (NOC) to power a blockchain digital ledger that aims to create a secure global system for storing and sharing patient medical data, a release states. The blockchain is provided by Onebio, a peer-to-peer marketplace for biodata. BlackBerry, the longtime developer of smartphones and tablets, has recently unveiled BlackBerry Spark, an Enterprise of Things (EoT) platform, that aims to transform the…

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Seoul Mayor Announces $53.39 Million Fund for Blockchain Districts

A South Koran politician has committed a $53.39 million fund to develop blockchain regions in Seoul, local media reported. Park Won-soon, who is the mayor of the South Korean capital city, said their government would create two business complexes to settle 200 blockchain-related companies by 2021. The districts would also serve the purpose of training 730 experts in the field over the course of the next five years. “There’s no doubt blockchain is the core technology of the fourth industrial revolution, which will shape the future IT industry. I will make…

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14 Italian Banks Complete Interbank Transactions on R3 Blockchain Corda

A consortium of Italian banks has successfully completed the initial trial of a blockchain-based system aimed at enhancing interbank operations. Known as the interbank Spunta Project, the 14 banks chose the Corda distributed ledger technology platform developed by the R3 blockchain consortium. The application was developed by NTT Data Italia while decentralized storage platform Sia provided the node infrastructure. During the trial phase which lasted for a period of 10 months, around 1.2 million transactions were processed, according to Ansa. Speed, Efficiency and Transparency Some of the improvements expected to…

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