The Latest News About Blockchain
Are you interested in Blockchain News? Then this article is for you. Nowadays, there is a lot of confusion because blockchain is a disruptive technology and definitely a “game changer.” Here are also many unanswered questions in relation with this topic. Nevertheless, it’s one of the greatest technological improvements that could solve many problematic aspects of various fields both in the private and public sectors. That’s why we decided to describe some of the latest blockchain news in order to keep abreast of the problems and events in the crypto world.
New Blockchain Solution For Disruptive Energy Consumption
Despite the fact technological innovation in other areas has prospered, the energy sector still lags behind and blockchain presents a much-needed disruptive technology. What makes it unique is it provides a virtual consensus translating into a decentralized network offering security and transparency.
Furthermore, blockchain-powered smart contracts coupled with end-point installed smart meters can achieve energy savings by predicting the energy demands of a system at specific times. Thus, it ensures efficiency within the crypto system and minimizes losses due to long-range transmission of electricity.
Additionally, blockchain is able to enhance settlement of trades, simplify and modernize the handling of model portfolios, and help with customer familiarization. This smart technology has a variety of benefits that can also provide aid in paying for fees through cryptocurrencies, digitizing contracts and handling digital content, substantiate transactions, and carry-out trades.
Blockchain can change the future of energy supply for the better since it provides the opportunity to benefit from a safe and secure system.
World Bank Launches Its First Blockchain Bond Sale
The World Bank has begun selling a bond to investors using blockchain technology. The bank, which primarily provides loans to countries in need of financing, has tasked Commonwealth Bank of Australia (CBA) with carrying out the bond sale, called “Bondi,” for Blockchain Offered New Debt Instrument. It’s the first bond created and managed by means of the blockchain.
The World Bank has further attracted investor interest in the new bond as “strong,” adding they aim to raise approximately 100 million AUD (73 million USD) from the sale. Moreover, the use of blockchain technology in bond sales has the potential to reduce the time it takes to settle securities from currently five days to “a few seconds.”
The Use of Blockchain Technology in New Ways
A lot of startups have started to explore how blockchain can change the way the world works. This technology is able to provide unmatched security and speed for data transfers.
Here are some of the startups, each of which is utilizing blockchain technology in new ways.
- Nano Vision concentrates its efforts on disease-prevention research and development. Using blockchain solutions, anyone, whether they are scientists or simply doctors, will have special access to the data and the research recorded on Nano Vision’s platform.
- BuzzShow is a platform having proof of contribution to reward users. Its main focus is to make a decentralized video ecosystem with a full economic cycle and rewards for creating and sharing videos. In this way, all online users have privacy and control over their video.
- MEvU is a decentralized P2P (peer-to-peer) betting application. MEvU uses smart contracts on the Ethereum blockchain to store players’ funds and information, providing players with confidence their wagers are executed securely and quickly. The main goal of the company is to reduce black market gaming and promote transparent gaming between parties.
Walmart uses Blockchain Technology For Its Food Business
What may be a surprise to many is Walmart has become an early adapter and advocate for using blockchain to track food products through the supply chain. Together with IBM and Tsingua University’s National Engineering Laboratory for E-Commerce Technologies, Walmart strives to create a standard for collecting information on the safety and authenticity of the food they import.
Frank Yiannas, Vice-President for Food Safety and Health at Walmart, has found using blockchain has greatly reduced tracking times. Moreover, he has noticed it now takes only seconds to find information that before may have taken days of searching through paperwork.
No doubt, blockchain solutions have the potential not only for financial transactions but also to drive profound, positive change in multiple industries. With blockchain development, the way the world lives and works can be greatly improved. This is an innovation ultimately seeking to further the course of technology through the exchange of digital assets.