Spanish Coastal City Valencia to Create a Smart Port With Blockchain Tech

The city of Valencia, Spain is planning a smart port based on blockchain technology according to an announcement made at the Dutch port of Rotterdam during them Smart Ports & Supply Chain Technologies conference on Wednesday 03 October. Jose Garcia de la Guía, head of new technologies at the port of Valencia, pointed out the benefits of using the technology and stated that Valencia was just one of many ports to implement the technology in future: “Starting from Valencia, we offer to use blockchain as a strategic option to provide…

Read More

U.S. Lawmakers Seek Common Definition for Blockchain

A pair of U.S. representatives, Doris Matsui, a California Democrat, and Brett Guthrie, a Kentucky Republican, have introduced a law to create a working group to determine a definition of blockchain. The lawmakers, both of whom sit on the Energy and Commerce Subcommittees on Communications and Technology and Digital Commerce and Consumer Protection, believe blockchain can offer benefits to government and the economy. “Blockchain technology could transform the global digital economy,” Matsui said in a prepared statement. “Opportunities to deploy blockchain technology range from greatly increased transparency, efficiencies and security…

Read More

Time Magazine Puts Blockchain Startup in ’50 Genius Companies’ List

Bitland, one of the first startups to use blockchain technology to create a land registry, has been named to Time Magazine’s “50 Most Genius Companies” list. Time asked its global network of correspondents to nominate businesses that are inventing the future, then evaluated candidates on originality, influence, success, and ambition. The companies are listed in alphabetical order. Bitland, under the leadership of Ghana resident Narigamba Mwinsuubo, uses blockchain technology to create immutable public records of land ownership. The International Monetary Fund (IMF) has estimated that 90% of the land in Ghana is…

Read More

Alibaba Seeks Patent for Blockchain that Allows ‘Administrator Intervention’

Chinese e-commerce giant Alibaba has applied to patent a blockchain system that allows a third-party administrator to execute “special transactions” such as halting a smart contract or freezing an account linked to illegal activity. According to documents made public on Thursday by the U.S. Patent & Trademark Office (USPTO), the Hangzhou-based firm submitted the application through Alibaba Group Holding Limited, a holding company located in Grand Cayman, in March. Writing in the filing, the patent authors state that while blockchain technology has many attractive features — openness, unchangeability, and decentralization,…

Read More

Singapore’s Biggest Shipper Partners IBM in Developing Blockchain for Crucial Trade Paperwork

Tech giant IBM is partnering with one of Singapore’s biggest shipper, Pacific International Lines (PIL), in digitalizing one of the most important documents in shipping – Bill of Lading. The two firms will collaborate in designing and creating an electronic Bill of Lading (e-BL) which will exist on a blockchain. In international trade, the Bill of Lading not only serves as evidence of ownership of goods, receipt of shipment and contract of carriage but is also relied upon by banks and other financial institutions in the provision of trade financing.…

Read More

Israel’s Securities Regulator Upgrades Cybersecurity with Blockchain

The Israel Securities Authority (ISA) has quietly integrated blockchain technology within its internal systems to securely deliver messages and information to regulated entities under its purview. The ISA, Israel’s national securities regulator, is carrying out the implementation after already embedding a platform dubbed “Yael”, used by the government agency to communicate and relay information to supervised institutions, The Times of Israel reported. The blockchain pivot will add another layer to ensure the credibility of data relayed to supervised entities, the ISA explained. The blockchain will notably verify the authenticity of…

Read More

Bank of America Thinks Blockchain Could be a $7 Billion Market

Bank of America research analysts have predicted that blockchain technology could represent a multi-billion dollar industry down the road, and be of particular benefit for leading companies like Amazon and Microsoft. BoA: Many Can Benefit From Blockchain The analysts predicted the total addressable blockchain market would eventually hit $7 billion, but there was not a particular timeline for the market growth since the technology is not yet widely used. CNBC reported that the market estimate was predicated on the assumption that 2% of servers would one day be used to run…

Read More

Ubisoft Joins Blockchain Group as Publishers Await Death of the Console

The video game console is dying, and AAA game publisher Ubisoft wants to help craft the standards that guide the development of one of the technologies that may one day replace it: blockchain. Ubisoft Joins Blockchain Game Alliance Toward that end, the French gaming giant has signed on as a founding member of the Blockchain Game Alliance, whose members will collaborate to develop industry standards and best practices for gaming applications that rely on distributed ledger technology (DLT). The news was first reported by U.K. video game magazine MCV. From…

Read More

Blockchain Has ‘Staggering’ Potential, Pres. Bill Clinton Tells Ripple Conf.

Ten years ago this month, pseudonymous developer Satoshi Nakamoto published the whitepaper for a new piece of technology that sought to upend the global financial system: “Bitcoin: A Peer-to-Peer Electronic Cash System.” There’s perhaps no clearer sign of the degree to which the Nakamoto revolution has begun to take hold than that yesterday, on Oct. 1, a former U.S. president appeared at a cryptocurrency industry conference sponsored by the largest holder of — not bitcoin — but a cryptoasset just one-fifth its size, to casually discuss the promise and perils…

Read More

Blockchain Could Avoid an Irish Hard Border in Brexit: UK Finance Minister

As the Irish border question has remained one of the thorniest issues in the Brexit talks between the United Kingdom and the European Union, a cabinet minister in Prime Minister Theresa May’s government believes the solution lies in technology. According to Phillip Hammond, UK’s finance minister, the best way to ensure trade across the Irish border remains frictionless after Britain leaves the EU lies in the use of blockchain technology. “There is technology becoming available (…) I don’t claim to be an expert on it but the most obvious technology…

Read More