Category Archives: Blockchain

World’s Biggest Blockchain Deployment

“World’s Biggest Blockchain Deployment”: Ethiopian Government To Use Cardano’s Technology To Revamp Its Education System

By Brenda Ngari – April 27, 2021

Cardano developer IOHK has announced a strategic partnership with the Ethiopian government to use Cardano-based technology to revolutionize the nation’s education system.

Cardano’s Identity System To Be Rolled Out To 5 Million Ethiopian Students 

Based on the Atala PRISM framework, the identity solution will be deployed throughout Ethiopia in what will be the “world’s biggest blockchain deployment”. In particular, it will be used to create forgery-resistant records of academic performance across 3,500 schools and verify the grades of more than five million local students. The system will also create records of 750,000 teachers, allowing monitoring and lesson planning.

This means that the Cardano-based identity system will make it easier to authenticate university applications and check the validity of the students’ grades without depending on third-party agencies. Increasing transparency in the schools’ grading system may create more employment opportunities for rural Ethiopians and increase social advancement.

IOHK added in the announcement:

“This partnership is at the heart of Ethiopia’s Digital Transformation Strategy. IOHK has long recognized how developing world countries could uniquely benefit from blockchain, and this deployment is key in our vision for Africa.”

IOHK’s Grand Vision For Africa

IOHK touts Cardano’s Atala PRISM as a game-changer for the world’s second-most populous continent, Africa. Besides education, IOHK CEO and Cardano founder Charles Hoskinson has previously revealed plans to work with the Ethiopian government to overhaul other sectors, including transport, healthcare, and agriculture.

Hoskinson has also talked about creating a Cardano hub in Ethiopia’s capital Addis Ababa which will cater to other African nations like Kenya, Nigeria, and South Africa.

Suffice to say, the latest development is a dream come true for the Cardano community. It will not only open up Africa to progressive blockchain technology via Cardano but also help to bring Cardano mainstream. Meanwhile, the CEO believes these new deals and initiatives with African nations will bring millions of users into the Cardano ecosystem in 2021.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Now You Can Spot the Fake

Now You Can Spot the Fake: Prada, Cartier, and Louis Vuitton Set to Verify Goods With Blockchain

By Erie Maxwell – April 22, 2021

Another feather will be added to the cap of Blockchain-based technological innovation as three rival giant luxury brands – Prada, Cartier, and Moet Hennessy Louis Vuitton (LVMH) –agree to lay aside competition, to set the stage for the novel adoption of secure Blockchain technology in the luxury industry, to fight fake products and verify product authenticity.

The announcement which was also made two days ago on LVMH’s official website would see all three brands come together to leverage the innovation of Aura Blockchain Consortium (ABC) – a private flexible multi-nodal blockchain with an immutable structure that promises to afford consumers direct access to a database of product information including proof of ownership, authenticity, warranty and a record of service and maintenance, directly from the brands.

Aura is also seeking to woo other luxury brands, regardless of their size, to its platform with the offers of an espionage-proof secure network that would ensure the data of a brand is not porous and accessible to a rival.

The new possibility comes as a huge step forward for fashion brands all over the world towards fighting the ever-growing online counterfeit market stemming from local counterfeit traders on high traffic e-commerce platforms like Taobao, Alipay, and others, from which many online brands have counted their losses to the tune over $320 billion since 2017.

Already, the largely disruptive innovation has been greeted with high fists and raised brows, with many wondering the extent to which the role of middlemen will be eliminated given the direct access consumers now have with brand manufacturers.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Erie Maxwell and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

IDB, Citi Pilot Cross-border Payments To Dominican Republic On Blockchain

IDB, Citi Pilot Cross-border Payments To Dominican Republic On Blockchain

By RTTNews Staff Writer | Published: 4/16/2021 10:38 AM ET

The Inter-American Development Bank (IDB) and Citi Innovation Labs have successfully completed a proof-of-concept (PoC) to make cross-border payments from the U.S. to countries in Latin America and the Caribbean, using blockchain and tokenized money. The platform provided full traceability of the transactions, exchange rates, and fees on blockchain.

The platform used the IDB-backed LACChain Blockchain Network, a public permissioned consortium blockchain, to execute the pilot. LACChain Networks are public and open to any entity in Latin America and the Caribbean.

For this PoC, Citi played the role of the bank holding the funds, the IDBs headquarters in the U.S. played the role of the sender of tokenized dollars and an individual in Dominican Republic played the role of recipient of tokenized Dominican pesos.

Meanwhile, LACChain provided the blockchain infrastructure and developed the back end, the smart contracts and the integrations.

The IDB deposited funds denominated in dollars in a Citi account, which were held, tokenized, and transferred using digital wallets. After being tokenized, these funds were converted to local currency, Dominican pesos, with the exchange rate established by Citi.

The exchange rates, payment status, and fees were traceable and transparent at all times as the transaction could be checked in the LACChain Blockchain.

The pilot demonstrated cross-border payments between entities in different countries that involve currency exchange, using digital money represented by tokens. This type of solution, in addition to its potential for cross-border payments, may have a potential impact on vulnerable groups, enabling enhancements in applications such as remittances.

The IDB Group focuses on improving the lives in the region by financing development projects. It is a leading source of long-term financing for economic, social, and institutional projects in Latin America and the Caribbean.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

Cardano Founder Spills The Beans

Cardano Founder Spills The Beans on “Fakeness” of Silicon Valley

By Samuel Wan – April 15, 2021 in Cardano Reading Time: 3min read

Cardano founder Charles Hoskinson said he chose Wyoming to base Input Output Global (IOG), and not Silicon Valley, because of the Valley’s “unhealthy” environment.

The comments dispel the notion that tech firms need Silicon Valley to “make it.” What’s more, his candid account of trying to integrate into that culture delivers a humbling that some say is long overdue.

Silicon Valley Fosters “Unhealthy” Living

Silicon Valley is found in the San Francisco Bay Area’s southern region and acts as a global center for technology and innovation.

It’s home to many established high-tech companies, including Google, Apple, and Adobe, to name a few. As well as thousands of startups looking to benefit from proximity to these giant megacorps. In particular, the venture capital money that’s flush in the region.

“In 2020, $156.2 billion of venture capital was raised in the U.S., PitchBook reports. Of the total, 22.7% of the dealmaking occurred in the Bay Area, and 39.4% of deal value was invested in Bay area-headquartered companies.”

Having said that, Silicon Valley, and the VC industry, have not been immune to the panic situation. A report by Pitchbook on the VC outlook for 2021 states the Bay area’s share of total VC count will fall below 20% for the first time in history.

Add to that the rise in remote working and the subsequent exodus from the high cost of living cities, and there are fewer reasons why tech firms would want to set up base in Silicon Valley.

When asked why IOG, formerly IOHK, didn’t locate in Silicon Valley, Hoskinson said he felt the pull when starting as an entrepreneur. But having spent a week there integrating into the culture, his experience was far from positive.

“… What I saw over eight years ago was a very, for the lack of a better term, unhealthy environment. There was copious drug use, a lot of people were sleep-deprived. And there was this endless desire to be something. And most of the people I met were so thoroughly fake, there was just no notion of a genuine person…”

Cardano Benefits From Slow Pace of Wyoming Life

IOG relocated its headquarters from Hong Kong to Wyoming in 2018. The state economy of Wyoming is heavily tied to mineral extraction, tourism, and agriculture, especially cow and sheep farming.

But in 2019, Wyoming enacted 13 blockchain laws making it the only U.S. state with a welcoming legal framework for blockchain companies to flourish.

Speaking on why Wyoming is preferred over Silicon Valley, Hoskinson said the lifestyle and work-life balance are more in line with his way of being, which can be summed up in one word, authentic.

“What’s so magical about that lifestyle I have is that after my workday ends, I go to my farm. A farm is like the ultimate truth factory. There is no bullsh*t when you’re in agriculture.”

The panic situation has forced many to reconsider what is wanted and important in life. And living in nature is a lifestyle trend that’s gaining favor among those done with big city living.

Source: ADAUSD on TradingView.com

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The original article was written by Samuel Wan and posted on NewsBTC.com.

Article reposted on Markethive by Jeffrey Sloe

Riot Blockchain

Riot Blockchain Set To Boost Total Hash Rate To 7.7 EH/s By 2022

By RTTNews Staff Writer | Published: 4/9/2021 10:14 AM ET

U.S.-listed company Riot Blockchain, a former biotech firm now focusing on bitcoin mining, is set to almost double its miner fleet and boost total hash rate to 7.7 exahash per second (EH/s) by 2022 after executing the latest purchase order for an additional 42,000 S19j Antminers from Bitmain Technologies Ltd. at a total price of approximate $138.5 million.

The deployment of these next-generation Bitmain Antminers will add an estimated 3.7 EH/s to Riot’s existing and planned fleet of miners.

This level of growth represents a 93 percent increase over the Company’s previously estimated committed hash rate capacity of 4.0 EH/s by October 2021 after a purchase order for 15,000 S19 Pro and S19j Pro Antminers was made out in December 2020.

“By nearly doubling its planned hash rate capacity, Riot continues to take great strides forward in growing both the Company’s and the United States’ share of the global network hash rate,” said Megan Brooks, COO of Riot.

Riot is scheduled to receive a minimum of 3,500 S19j Antminers on a monthly basis starting in November 2021, and will continue through October 2022.

The additional Antminers will expand Riot’s total fleet to 81,150 next-generation Bitmain Antminers and boost its total hash rate capacity to over 7.7 EH/s by November 2022 from the previously announced 4.0 EH/s.

Ninety-five percent of the fleet will be the latest generation S19 series model. The S19j operates at 90 terahash per second (TH/s) and consumes 3,100 watts of energy.

With all miners fully deployed, the company’s total fleet is expected to consume approximately 257.6 megawatts (MW) of energy with an overall hash rate efficiency of 33 joules per terahash (J/TH).

The global shortage of semiconductor production amid the pandemic combined with the recent increase in demand for Bitcoin mining has hampered the ability for many miners to grow their hash rate. However, Riot has entered into nearly $230 million in purchase contracts for miners since late 2019.

In April 2020, Riot Blockchain relocated its mining operations under a co-location mining services contract executed with Coinmint, LLC, claimed to operate the largest digital currency data center in the world. The co-location at Coinmint’s Massena, New York-based facility is expected to reduce direct mining production costs, maximize hash rate, and provide expansion opportunities.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

Tech Mahindra

Tech Mahindra Offering ‘Stablecoin-As-A-Service’ Solution To US Banks

By RTTNews Staff Writer | Published: 4/7/2021 10:58 AM ET

India’s Tech Mahindra has partnered Dutch blockchain startup Quantoz to launch “Stablecoin-As-A-Service” (SCaaS) blockchain solution for global banks and financial institutions. The solution will enable lower transaction processing costs, bring-in military-grade security and drive faster settlements on blockchain.

The Indian technology company is primarily targeting U.S. banks and financial institutions with the Stablecoin solution after the Office of the Comptroller of the Currency (OCC) recently authorized federally chartered US banks to use Stablecoins for standard banking functions like payments and transactions.

As part of the solution, Tech Mahindra will help customers integrate Quantoz’ NEXUS platform into their legacy infrastructure, which will enable automated token, crypto and fiat transaction processing for a variety of banking and payment functions.

The platform will also be capable of handling multiple functions like loyalty management, remittances, ecosystem payments and treasury management.

The usage of Stablecoins as a payment mechanism has significant potential to reduce transaction costs and processing time, while providing auditability and enhancing security for digital payment through the use of the underlying blockchain technology.

The OCC’s authorization is expected to accelerate the regulated use of blockchain and has the potential to boost its adoption across banking vertical. It will also spur demand and drive innovation in global payments.

Stablecoins are digital tokens that offer stability by pegging their value to certain assets like fiat currency or commodities. In addition to optimizing digital payments, stablecoins also enable enhanced functionalities like IoT (Internet of Things) payments, micropayments, programmable payments and cross spending across payment ecosystems.

Quantoz said it has always focused on the interface between the classical financial world and blockchain technology. It has previously successfully cooperated with TechMahindra on other projects like blockchain-based digital payment solutions.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

Solar Power Credit

Solar Power Credit Can Get You A Slab Of Beer On Blockchain

By RTTNews Staff Writer | Published: 3/31/2021 10:59 AM ET

Australia’s Victoria Bitter has launched a Solar Exchange, which will enable beer lovers to swap their excess solar energy credit for slabs of Victoria Bitter beer. The offer will run through four quarters until 31 March 2022, during which a maximum of 30 slabs can be claimed.

Victoria Bitter has partnered energy retailer Diamond Energy and blockchain-powered energy trading company Power Ledger to develop the Solar Exchange.

The Solar Exchange program allows participants to exchange credit on their power bill, obtained from generating excess solar at home, for Victoria Bitter beer. Every $30 worth of credit can be exchanged for a slab of beer, which is then delivered straight to your door.

Power Ledger’s blockchain-powered software will help the user to receive the excess energy data and the user can begin tracking their beer exchanges.

Victoria Bitter is one of the best selling beers in Australia produced by Carlton & United Breweries, a subsidiary of Asahi. A slab is an Australian slang for a carton of 24 beers.

Last year, the company began brewing Victoria Bitter beer under the Australian sun by brewing it with 100% offset solar energy. This program is a way to thank those who have made the effort to go solar.

Beer lovers can quickly sign-up quickly at www.vbsolarexchange.com.au to participate in the program as there are currently only 500 spots available. In order to participate in the program, consumers need to switch to Diamond Energy as their energy retailer. The program is available to residential householders only.

This program is part of Asahi’s ambitious sustainability agenda, which includes the commitment to be powered by 100% renewable electricity by 2025. Victoria Bitter will receive the solar credits it obtains under the exchange from Diamond Energy and re-invest them back into the program or towards the business‘ broader sustainability goals.

In 2018, the company adopted renewable energy as the way forward with the signing of a 12-year Power Purchase Agreement for 74,000 MWh per year of renewable energy from the giant solar farm outside Mildura.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

Blockchain sports firm Chiliz to expand in US with $50M investment

Blockchain sports firm Chiliz to expand in US with $50M investment

Chiliz is setting up a New York office following years of fan token experience in Europe.


Image courtesy of CoinTelegraph

            MAR 02, 2021

Major blockchain sports venture Chiliz is planning a $50 million expansion into the United States, CEO Alexandre Dreyfus announced Tuesday.

Dreyfus told Cointelegraph that the firm is setting up an office in New York and will start working with local leagues and sports franchises.

New York is the “headquarters for the sports industry in the U.S,” Dreyfus said, stressing that the new office will be critical for Chiliz’s global expansion. In a Reuters interview, Dreyfus said that the company is preparing to launch fan tokens with franchises from the five major U.S. sports leagues.

Chiliz has generated millions of dollars of revenue for some of Europe’s biggest sports organizations. “In 2020, we shared more than $30 million with our partners, but this year we’re targeting a minimum of $60 million,” Dreyfus said.

Headquartered in Malta, Chiliz has years of experience in providing fan tokens to popular European soccer clubs like FC Barcelona, Juventus and Paris Saint-Germain. By issuing blockchain-based fan tokens with Chiliz, sports organizations and clubs are able to unlock new fan engagement experiences like fan voting and direct communication with players.

Collaborating closely with its fan engagement platform, Socios, Chiliz is known for working with some of the biggest companies in the cryptocurrency industry. In late 2020, Chiliz announced a partnership with Binance, the world’s largest cryptocurrency exchange, to list several European clubs’ fan tokens on Binance’s Launchpool platform.

Joseph Edwards, head of research at cryptocurrency brokerage Enigma Securities, believes that Chiliz’s entrance into the U.S. is perfectly timed due to COVID-19 restrictions. “Fan tokens right now are just hitting the perfect itch at the perfect time — fans are disconnected physically from their fandom, and this helps bridge that gap,” Edwards said in a Reuters report.

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Original article posted on the CoinTelegraph.com site, by Helen Partz.

Article re-posted on Markethive by Jeffrey Sloe

Blockchain is Finally Becoming What Was Promised

Blockchain is Finally Becoming What Was Promised

By Thomas Delahunty – March 2, 2021 in Company News Reading Time: 3min read

Ten years ago, Bitcoin emerged as the first cryptocurrency. It brought with it the promise to resolve some of the major challenges that come with regular fiat currencies like the US dollar (USD) and Chinese yuan (CNY) — including rampant inflation, counterfeiting, and centralization.

But despite this, it isn’t Bitcoin that is poised to reshape finance as we know it, but its underlying technology known as ‘blockchain’. This decentralized ledger technology has gone through several iterations in the past decade, and one of the most recent forms looks set to radically shake up the way we interact with our money.

The Era of Decentralized Finance



Parity Labs’ Substrate is currently the most advanced blockchain platform. (Image: Parity Labs)

The first generation of blockchains brought incredible security, transparency, and efficiency that has yet to be matched by legacy financial technologies.

These first-generation blockchains are used to power platforms like Bitcoin (BTC) and Litecoin (LTC) — which are capable of transferring value across borders in minutes, at a tiny fraction of the cost of traditional remittance firms and are practically unhackable.

Ethereum (ETH) and Cardano (ADA) introduced the second generation of blockchain-based platforms. For the first time, these were able to host self-executing scripts known as smart contracts, which run on the blockchain and automatically execute based on defined parameters. These were used to be a dazzling array of blockchain-based applications, some of which offer features that replicate traditional financial infrastructure — like investment platforms, trading apps, and open lending platforms.

Many of these decentralized applications (dApps) fit into the category of ‘decentralized finance (DeFi)’ — since they provide features that allow users to retake control of their finances and better make use of their cryptocurrencies.

But now, with the advent of Substrate — a third-generation blockchain platform — DeFi is set to go mainstream; since projects will be able to build interoperable applications that leverage the unique properties of individual blockchains to provide solutions that were simply not possible before.

Clover is the platform at the epicenter of this revolution. Built on Polkadot (a Substrate-based platform), it benefits from extreme scalability and security, while also enabling a degree of interoperability between applications that has not yet been seen before in a blockchain system. It’s used by projects to easily build and deploy highly capable decentralized applications that can serve practically any purpose.

With it, the next generation of blockchain-based dApps will be deployed, potentially ushering in the age of mainstream decentralized finance.

The Power of Programmable Money



Platforms like Convergence can be used to tokenize and trade real-world assets. (Image: Convergence)

Although blockchain technology is the main star of the burgeoning crypto industry, cryptocurrencies are also going through an evolution of sorts. What were once static digital assets that served a single purpose, have now evolved into programmable units that have the capacity to way to reshape the way we think about money.

Nowadays, cryptocurrencies can be more than simple stores of value or currencies, and can represent practically anything — ranging from fiat currencies to commodities and real estate, to works of art and even traditional shares. This has enabled the advent of so-called ‘synthetics issuance’ platforms, like XinFin and Synthetics — which allow almost anything to be tokenized and represented as a blockchain-based asset.

But more than this, programmable money can also represent even more complex asset types, whereby a single unique could represent the ownership or transfer or multiple units at once, i.e. basket assets like BLEND, or derivative positions — like leveraged futures products, options, and more. As you might imagine, these digital assets provide a great deal more flexibility than is possible with simple cryptocurrencies like BTC or LTC — since they can represent anything, whether real or virtual.

This programmable money is currently being used to build increasingly capable decentralized financial products, that in time, could eventually replace stock exchanges, clearinghouses, banks, and practically all of the intermediaries we are accustomed to dealing with when managing our finances.

As a result, the combination of decentralized finance and programmable looks set to return power to the individual, while eliminating costly, time-consuming, and inefficient intermediaries that profit from users while giving little in return. And given the current pace of change in the industry, this might happen sooner, rather than later.

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The original article was written by Thomas Delahunty and posted on NewsBTC.com.

Article reposted on Markethive by Jeffrey Sloe

Cardano’s ADA Is Now the Third-Largest Cryptocurrency by Market Cap

Cardano’s ADA Is Now the Third-Largest Cryptocurrency by Market Cap

The cryptocurrency rose to $1.30, beating out its previous all-time high set in January 2018.


Image courtesy of Coindesk

Feb 26, 2021 at 3:06 p.m. EST • Updated Feb 27, 2021 at 4:16 p.m. EST

The native cryptocurrency of the Cardano blockchain, ADA, has broken to a fresh all-time high at $1.30 per coin. That’s good enough to become the third-largest cryptocurrency when measured by market capitalization at $39 billion.

A competitor to the Ethereum blockchain, Cardano was launched in 2017 and is mainly backed by business venture Input Output Hong Kong (IOHK). The blockchain is the creation of Ethereum co-founder Charles Hoskinson, who is now CEO of IHOK.

ADA has been swept up in bitcoin’s bull market, even though Cardano has no major decentralized finance (DeFi) or other applications running on it like other Ethereum competitors such as Binance Smart Chain. The cryptocurrency is up 645% in the past 90 days, according to Messari.

The cryptocurrency surpassed dollar-backed stablecoin tether (USDT) and Binance’s BNB to move into third place.

Bitcoin (BTC) and ether (ETH), the native cryptocurrency of the Ethereum blockchain, have suffered under a price correction following months of double-digit percentage gains. Bitcoin is down 6% on the day to $46,800 while ether is down 6% at $1,490 as of press time.

ADA recently traded at $1.25, up 10% in the last 24 hours.

Correction (Feb. 26, 22:45 UTC): Original market cap figure cited was Ethereum’s market cap at $169 billion. ADA’s market cap is remains the third largest, however.


Image courtesy of Coindesk

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Original article posted on the Coindesk.com site, by William Foxley.

Article re-posted on Markethive by Jeffrey Sloe