Dubai Blockchain to solve Immigration issues
Dubai Blockchain will try to solve immigration issues, developing a system for cutting illegal residency within the country.
To do so, Dubai immigration agency is looking for a blockchain startup to collaborate for this project.
The Dubai Future Accelerator and the General Directorate of Residency and Foreign Affairs published a call for blockchain startups to develop the immigration platform.
This way, the immigration agency hopes to reduce illegal resident entry by 50% using the distributed ledger, according to a press release published a few days ago on December 22nd.
Other public institutions in Dubai want to use the blockchain technology as part of their accelerator program and there are a few opened calls about blockchain’s publicized use cases.
For example, the Department of Economic Development is looking for using automated systems to cut governmental red tape by 20%, reducing time for receiving, renewing and modifying trade licenses.
Also, the Dubai Health Authority is working to improve patient self-management of health data, as explained during a recent Distributed Health event.
Dubai Blockchain for a better future
The Dubai Future Accelerator will take no equity from startups that participate. Also, it provides flights, accommodation and office space for a program of 9 weeks where selected companies will be able to test prototypes with the major Dubai companies and government institutions.
Saif Al-Aleeli, CEO of the Dubai Future Foundation, explained in the press release:
“By bringing innovative global startups together with government entities in Dubai, the program offers them the potential to materialize their ideas and projects in a forward-thinking city, and play their part in building a better future today,”
To read more about Dubai Blockchain project, click here.
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BNP Paribas Blockchain used for live transactions
A well-known worldwide seller and another important firm partecipated to the first live transactions using the BNP Paribas Blockchain service, as revealed today by the bank itself.
According to BNP Paribas, in fact, payments were processed between the Italian sports collectible firms Panini Group and the Australian packaging firm called Amcor.
The payment transactions were managed in a few minutes – the bank explained in the official press release – using different currencies to make transactions easier between bank accounts located in Germany, Netherlands and England.
Panini Group treasurer Fabrizio Masinelli commented in a statement:
“This proof-of-concept shows how powerful such technology can be and how it can be utilised as an effective and efficient response to the main issues that treasurers face on a daily basis.”
BNP Paribas Blockchain Proof of Concept
The transactions were managed by using the proof of concept called Cash Without Borders launched earlier this year after its incubation during a blockchain hackathon.
More Details about the size of the transactions will be revealed in the next future.
Also, the BNP Paribas blockchain service tested the so-called “mini-bonds” for small investments, as well as blockchain crowdfunding prototypes that might see the light next year.
According to the Panini Group’s official website, the company earned 751m euros in 2014 and employs 1,000 people worldwide.
Also, during the same year, Amcor earned $10b in sales and employs 29,000 employees.
To read more about the BNP Paribas Blockchain service click here.
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France Bitcoin Tests by the Central Bank
France Bitcoin tests have been revealed by the French Central Bank last week.
The Banque de France published a press release on Friday where it talks about its technology tests for use in the management of SEPA Credit Identifiers.
According to the French central bank, one of the key participants in this project is the Caisse des Dépôts et Consignations, and the Paris-based startup called Labo Blockchain.
The project began in July 2016 and culminated in October with the creation of prototypes for creating and managing SEPA Credit Identifiers.
The central bank also explained how meetings were held with stakeholders as the project moved forward, indicating that more details about the project will be revealed in 2017.
France Bitcoin project and more central bank efforts
This is not the first time a central bank test the distributed ledger.
A few months ago, in fact, central banks in Japan, Sweden and Singapore launched similar projects.
Also, earlier this month, the US Federal Reserve published its first major research paper on the ledger you can read here.
Credits: Coindesk.com
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Japanese Blockchain Consortium is growing fast
A Japanese blockchain consortium grew very fast and now it includes more than 1 hundred members.
Membership of this Blockchain Collaborative Consortium (BCCC) grew since its creation back in April 2016.
BCCC memberhip includes Japan Microsoft, Infoteria, Mitsui Sumotomo Insurance, PwC, Bitbank, ConsenSys and more.
Also, the Japanese Blockchain Consortium announced that the 100th student from its Blockchain University program had successfully graduated – signal that the BCC’s plan to improve knowledge about the distributed ledger is succeeding.
In a blog post revealed today, the founder and CEO of Infoteria, Pina Hirano, explained that the Japanese Blockchain University is the only one of its kind within the country. He said:
“While the world related to FinTech and block chains is moving at a rapid pace, BCCC will add new members’ power and make activities more active so that domestic movements will not be delayed.”
Hirano suggested the total Japanese Blockchain consortium members are 109, but at the moment the BCCC website only lists 101, so maybe more members will be announced in the near future.
Japanese blockchain growth
During the last few months Japan has been characterized by its interest and study of the blockchain.
In November Ripple launched its own blockchain consortium with more than 40 banks with the goal of building a network to conduct cross-border payments.
Also, in December the Mizuho Financial Group, Inc., Sumitomo Mitsui Banking Corporation and other banks helped Deloitte Japan for a blockchain test and research about inter-bank payments.
Despite the test, Japan faced a shortage of blockchain developers, as reported by Reuters.
To solve this problem within the country, the BCCC graduated two classes of students with 8 courses each, including “practical training”, “foundation of blockchain technology” with lessons about the bitcoin blockchain. More classes will be added next month, but unfortunately this consotium blockchain class is only conducted in Japanese language.
To read more about Japan plans related to the blockchain, click here.
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Blockchain Copyright US Commerce Department
Blockchain Copyright will be the major topic to be discussed by the US Commerce Department on Friday 9th November, 2016.
The even is organized by the Internet Task Force department, supported by the US Patent and Trademark Organization (USTPO), the National Telecommunications and Information Administration (NTIA), the International Trade Administration (ITA) and the National Institute of Standards and Technology (NIST).
This group was created to study a wide range of topics, from blockchain copyright to digital privacy and cybersecurity.
The Commerce Department will be hosting a live streaming of the conference.
According to an agenda published by the Commerce Department, the event is being organized at the Silicon Valley office.
However, the blockchain copyright topic is not so new, as the idea that distributed ledger technology can be very useful in the digital copyright filed is being explored by several startups worldwide.
The idea is that a creative project can be linked to a transaction or digitized asset on an immutable ledger, so its provenance can be traced to its origin, verifying the true author behind it.
The one-day event, which will begin at 1:30 p.m. UTC, will include a panel session on registries and rights expression languages, and a conference that is expected to be focused on the use of the distributed ledger.
The next sessions will be focused on the blockchain and smart contracts as topics of discussion. And while no specific details about projects have been revealed, the conference will include a technology preview.
The department explained during its press release:
“We will discuss the potential for interoperability across digital registries and standards work in this field, and consider the relevant emerging technologies (eg, blockchain technology, open-source platforms). We will also explore potential approaches to guide their adoption and integration into the online marketplace.”
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Federal Reserve Blockchain Paper: read here
The US Federal Reserve Blockchain Paper is a new research about distributed ledger technology published by the American institution.
This new paper is about blockchain applications for payments and transaction settlement.
It was written by a research group composed by the Federal Reserve Board and botht the Federal Reserve Banks of New York and Chicago.
Although another research was published in the past by members of the Federal Reserve system, this new document is the first major publication from the Federal Reserve Board.
However, the research paper covers a wide range of topics, including both a top-down view of the concepts behind blockchain.
Also, the US Federal Reserve Blockchain Paper talks about the challenges and opportunities for financial companies or payment system operates looking for possible integrations.
“An important goal of this paper is to examine how this technology might be used in the area of payments, clearing, and settlement and to identify both the opportunities and challenges facing its practical implementation and possible long-term adoption.”
This publication comes just two months after the news that Fed governor Lael Brainard revealed the interest in the blockchain by the central bank.
According to the Federal Reserve press release, researchers interviewed almost 30 representatives from the public and private sector, explaining both how to establish companies and startups working with the distributed ledger in the fintech field.
The full US Federal Reserve Blockchain Paper can be found here:
Distributed ledger technology in payments, clearing, and settlement
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Siemens Blockchain to work with Microgrids
An American startup has started a new partnership to help the Siemens Blockchain project, as the company wants to develop a peer-to-peer energy transfer program based on the Ethereum Blockchain.
Siemens Blockchain Project with LO3
To do so, LO3 will work together with tech giant Siemens to help its new TransActive Grid project, which allows users to sell their own power to other microgrid stakeholders.
In a press release published today, Siemens said they will provide the startup with its microgrid control technology.
Recently, we need to remember, LO3 was awarded as a patent for its decentralized energy transfer project by the US Patent and Trademark Office.
Thanks to this collaboration, LO3 will work together with Siemens’ Next47 Unit, opened earlier this year.
Siemens indicated that this project created between the two companies will be able to have future impacts on its own global client base.
In fact, Siemens is one of Germany’s biggest companies, and also one of Europe’s largest engineering businesses.
CEO for Siemens’ Energy Management Division, Ralf Christian, explained:
“We’re convinced that our microgrid control and automation solutions, in combination with the blockchain technology of our partner LO3 Energy, will provide additional value for our customers whether on the utilities side or on the prosumer side.”
Siemens and LO3 will test blockchain-powered microgrids in New York and other worldwide locations, as the two companies explained today.
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Unicef Blockchain Startup: new details
Today we talk about the new Unicef Blockchain Startup.
The United Nations Children’s Fund (UNICEF), in fact, decided to invest in a South African startup related to the blockchain.
In February UNICEF revealed that its decision to fund projects focused on the distributed ledger thanks a new innovation fund created in 2015.
At the time, UNICEF explained it was interested in investing in the areas of digital identity and remittances, but later UNICEF decided to hire a person on blockchain.
Right now, the association is starting to fund companies in areas that support its mission to promote child and family welfare.
UNICEF invested in several startups, including 9Needs, which uses the blockchain to develop identity features for children’s education.
9Needs will receive about $100,000 in investment, which will be used to scale the platform already developed by the startup.
Chris Fabian of UNICEF’s Office of Innovation Ventures explained that the organization decided to fund 9Needs as it promotes social progress.
“The sense of the company we got of the company, in talks with them, they seem like a really cohesive group of people using a sophisticated technology to solve a pressing set of problems.”
Read more about UNICEF Blockchain Startup Investment by clicking here.
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Switzerland Bitcoin Regulation will arrive next year
Switzerland Bitcoin Regulation might arrive next year.
Recently its national railway service “have jumped on the bitcoin bandwagon”, as explained by Coindesk, so now it’s time for Switzerland to start regulating fintech and digital currency.
A few days after the Swiss railway-related announcement, as SBB decided to sell bitcoin through its network of ticket kiosks – the Federal Department of Finance (FDF) announced its plans to regulate fintech with the goal of introducing a new regulation next year.
Key elements include plans for a new kind of license geared specifically toward fintech companies and a so-called regulatory “sandbox” for experimental firms. Under the proposed regime, the Financial Market Supervisory Authority would become the primary regulator of fintech firms working in Switzerland.
In a press release, the FDF explained that it will guide more researches about bitcoin and other digital currencies and it will study the distributed ledger broader applications .
The company explained:
“The FDF should conduct additional clarifications in cooperation with the interested authorities on reducing further barriers to market entry for fintech firms, also those outside financial market law (e.g. legal treatment of virtual currencies and assets).”
During a recent speech, Ueli Maurer, Swiss Finance Minister, commented that the proposed Switzerland Bitcoin regulation would help to attract more brands – even if the nation positive attitude has already attracted the attention of several blockchain-related startups to make their home in the country.
“We assume that with the steps we have prepared and the commitment we have to the overall financial services industry we can provide a solution that puts us among the top (countries) in the world that regulate this,” he explained.
Read more here about the Switzerland involvement in the fintech sector.
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MasterCard Releases Blockchain API
MasterCard releases Blockchain API, an experiment to work on an emerging technology such as the distributed ledger.
So Visa won’t be the only credit card company to work on the blockchain.
But while Visa is releasing a B2B blockchain, MasterCard releases blockchain API with more collaborative objectives.
The MasterCard website now contains 3 APIs connected to its internal blockchain platform, including offerings based on smart contracts and payment settlement. Those APIs were created by MasterCard Labs, the innovation program of the credit card giant.
MasterCard blockchain lead Justin Pinkham explained that the company created the API platform in October to stoke interest among banks and merchants.
Pinkham explained to CoinDesk magazine:
“This is part of our initiative to publish experimental APIs from Mastercard Labs and give developers the chance to work on emerging technologies that haven’t yet been commercialized by us.”
Also, Pinkham explained that MasterCard company is continuing to work on technology use cases and it is looking for new partnerships that can be useful for the MasterCard’s business.
“We believe that there is a role of blockchain in the future of commerce. This future needs to be developed in partnership with banks, merchants and industry participants,” Pinkham commented.
This news is one of the most important for MasterCard company, who used to criticize bitcoin in the past.
But if MasterCard releases Blockchain API, this means that it is beginning to push some of the work done by its tech lab.
According to Pinkham it won’t be the last, as he said that the company is creating a new foundation for blockchain tech that will be focused on the distributed ledger use cases including inter-bank payments, trade finance, digital identity and also the exchange of know-your-customer information.
This work was possible also thanks to the new partnership between MasterCard and startups through its Start Path Global program, as well as 30 more blockchain-related patents that Pinkham explained the company submitted.
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