23 Jul
0
Reserve Bank of India to study blockchain applications
Reserve Bank of India (RBI) proposed to local banks to study blockchain applications.
In fact, a bank deputy governor encouraged other Indian banks to collaborate within a research group previously created by the central bank on blockchain projects.
During a recent event held by the Institute for Development and Research in Banking Technology (IDRBT) on 19th July, Rama Gandhi explained how banks should develop applications for the blockchain and cryptocurrencies.
These were his words:
“Cloud-based computing, blockchain processing technologies and virtualization of IT systems are a few examples which hold potential for being used in a big way … Banks and IDRBT can work together to study these, test them out and adapt for best use.”
Bank of India wants its own digital currency
The Reserve Bank of India has been investigating distributed ledger applications of the technology since 2014, according to reports.
Back then Central bank governor Raghuram Rajan said that the bank could release its own cryptocurrency but no more details are available about this project.
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12 Jul
0
US Department of Homeland Security to use the Blockchain
The US department of Homeland Security (DHS) – the division created after the 9/11 terrorist attacks – talks about the possibility to use the blockchain technology.
First announced in a press release published in December, the DHS announced in June that it awarded a prize of $199,000 to the blockchain startup Factom that aims at using the distributed ledger to ensure the security of cameras that monitor US borders.
How US DHS wants to use the Blockchain
This way the blockchain could be helpful for DHS as it aims at building an identity for devices, or a way to extend the company’s ability to monitoring services and devices.
Data privacy program manager Anil John explained to Coindesk:
“The Factom piece is more along the line of these devices exist, but how do we build a picture of the identity of this device over time? The blockchain could be the catalyst that allow us to document the changes”.
Also, he explained that the company wants to learn more about the potential applications of the blockchain.
“For DHS use cases, the projects we’re funding are focused on proving or disproving that security and privacy can be supported by a blockchain-based infrastructure. It is much broader than IoT and identity.”
To do so, DHS gave funding also to projects such as Solarity Solutions, Respect Network and Digital Bazaar.
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8 Jul
0
Mitsubishi invests in Blockchain
Today Coinbase announced that has raised $10.5m thanks to Bank of Tokyo Mitsubishi UFJ,
Mitsubishi UFJ Capital and Sozo Ventures.
Also, Bank of Tokyo Mitsubishi UFJ itself started a new partnership with Coinbase, confirming rumors that the American startup was working on a proof-of-work project with an Asian bank.
Thanks to this move, Mitsubishi invests in blockchain applications.
Mitsubishi invests in Blockchain: a gap to fill up
In a press release, Coinbase explained that this collaboration will allow to fill up the gap between the blockchain and traditional financial institutions.
“Partnering with leading global financial institutions is a key part of our strategy and we are thrilled to be working with BTMU.”
Also, the well-known exchange commented that wants to launch several services in Japan; this way the startup will be able to serve a second Asian market.
Mitsubishi to have its own cryptocurrency
A few days ago, Bank of Tokyo-Mitsubishi UFJ also revealed that is testing its own digital currency.
This news came following a report from the Asahi Shimbun newspaper and the bank will soon issue a virtual currency (the MUFG Coin?) that will be available next year.
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5 Jul
0
Siemens Blockchain project for artificial intelligence
A few days ago the tech-giant Siemens revealed its new plan to invest in blockchain startups to develop an environment for forward-looking fields such as artificial intelligence and decentralized electrification.
“Siemens will set up a separate unit to foster disruptive ideas more vigorously and to accelerate the development of new technologies. The unit’s name, “next47,” plays on the fact that Siemens was founded in 1847”.
The German company, in fact, plans to found the so-called “next47” as a separate unit for startups, investing a $1.1bn in capital to be spent in a five-year period.
Siemens blockchain project
In the press release, Siemens specified that the new project might involve the distributed ledger, or the technology behind bitcoin.
“The new unit will also concern itself with so-called blockchain applications that are designed to make data transfer in industry and in energy trading, for example, simpler and more secure”.
More info about the Siemens blockchain project will be announced soon. Stay tuned on the HolyTransaction blog.
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25 Apr
0
Blockchain to be used on the battlefields by Darpa
The most popular research projects agency for defence, better known as Darpa, is studying a method to create a blockchain-based messaging platform to be used for battlefield objectives.
This DARPA’s project is still just an idea, but it comes out thanks to a website post on its official websites.
DARPA became very popular thanks to its revolutionary ideas and its goal of promoting emerging technologies.
In fact, back in the ’60s, DARPA created ARPANET, a primitive form of what today we call Internet.
The press release
According to the official press release, DARPA aims at creating a”secure messaging system” using a “decentralized ledger” to allow encrypted secrets.
The press release explains:
“There is a critical DoD need to develop a secure messaging and transaction platform accessible via web browser or standalone native application. The platform separates the message creation, from the transfer of the message within a secure courier to the reception and decryption of the message.”
The 3-steps model
DARPA believes it will need 3 stages to bring the project to reality.
- Development: “built on the framework of an existing blockchain framework”, using the blockchain as a model;
- Creation of prototypes and commercial-scale versions of the network;
- Deployment
Applications
According to DARPA, this system can be used within the DoD offices to interact in a secure way.
“By doing this, significant portions of the DoD back office infrastructure can be decentralized, smart documents and contracts can be instantly and securely sent and received thereby reducing exposure to hackers and reducing needless delays in DoD back office correspondence. As an example, Military Interdepartmental Purchase Requests (MIPR) could be implemented using the secure ledger.”
The system could be also used for battlefield applications.
“Troops on the ground in denied communications environments would have a way to securely communicate back to HQ, and DoD back office executives could rest assured that their logistics system is efficient, timely and safe from hackers”.
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5 Apr
0
BNP Paribas to develop a blockchain project
Today BNP Paribas Group has announced a new partnership that aims at allowing private companies to issue securities through the blockchain ledger.
The partnership is between BNP Paribas Securities Services and SmartAngels, a crowdfunding platform that will help BNP Paribas in a pilot project to be launched within the end of 2016.
According to a press release, BNP Paribas will develope and manage a ledger for shares in companies through the blockchain.
The main goal is to allow non-listed companies crowdfunded on SmartAngels to issue their shares on the primary market, and allow investors an access to the secondary market based on blockchain technology.
The BNP press release explained:
“Investor payments will be processed immediately and e-certificates will be issued to them straight away. Financial transactions made via the platform will therefore be performed simply, quickly, securely and for a lower cost.”
BNP Paribas believes in the Blockchain
BNP Paribas is not new in the blockchain sector.
A few months ago, in fact, BNP confirmed its belief in distributed ledger technology for financial purposes and announced that they were working on blockchain technology.
Also, BNP Paribas previously created their blockchain Bizhackathon, with the objectives of finding use cases for distributed ledger technology in the banking system.
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