Tag: Blockchain Technology

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Voting System Based On Blockchain Technology Tested In Japan

Residents of a Japanese city in Ibakari prefecture had the opportunity to use a voting system based on blockchain technology as a security measure, on August 28th. Although this is one of the first projects of its kind across Japan, the report on this project does not describe the procedure for validating the information. The news was released by The Japan Times, which specified that the voting system was designed to select a proposal for social contribution projects in the city of Tsukuba.

The objective of this program was to provide a platform for transparent elections that cannot be altered

To this end, the city authorities, known for driving technological development in the region, partnered with a project known as My Number, a personal identification software. The report indicates that the vote was taken online.

In order to participate, residents had to use a card provided by the My Number platform, which consists of a 12-digit number that any resident or foreigner can use in Japan. Participants voted on a screen after placing their cards for verification. In total, 119 votes were recorded by this procedure, validated in a blockchain system that according to the authorities prevents the data from being falsified or leaked.

Tohoku University professor, Kazynori Kawamura, who is familiar with digital election research, commented that the reputation of these systems needs to improve. “Due to fear of mistakes, administrative organizations and election boards will probably find it difficult to introduce these systems,” said Kawamura.

Voting systems based on blockchain have been successfully tested in other countries, as well

On August 7th, a vote on the Senate election was held in West Virginia, in the United States, which allowed the military in service to vote through a mobile application that used a blockchain system to protect the data. However, several voices criticized the project, arguing that the transparency and immutability of the information depended on a company that used private nodes to validate the information.

Several projects on elections supported by blockchain technology have been developed around the world. While the desire for technology that allows for greater transparency and security of information is legitimate, it is necessary to discern when it is appropriate to use these systems and when a simple database is sufficient.

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Crypto News

Samsung Wants to Simplify Banking Services with Blockchain Technology Tool

Samsung SDS, a branch of the South Korean technological giant, has designed a blockchain technology-based platform for South Korean banks, the company reported today.

Samsung SDS launched the new BankSign platform based on blockchain technology

The new BankSign platform, jointly developed by the Korean Federation of Banks and Samsung, is intended to provide flawless interoperability between the mobile systems of different banks. Customers can conduct transactions on different apps, but the new system will need to check them from a single application, using passwords, fingerprints or patterns for authentication, Yonhap press agency revealed.

Samsung delegates claimed that the security of the system ensured by the coupling of bank systems to the data sharing blockchain technology network, and authentication data into this network can stay in place for up to three years. One statement claimed that this security is strengthened by the immutability of the blockchain.

Is not the first time Samsung SDS is using blockchain technology-based solutions for improving the banking system

“BankSign is the first application of the long-awaited technology of the blockchain on banking services. The company will continue to develop its digital transformation activities, which will strengthen the competitiveness of banks and financial institutions,” the statement says.

Samsung SDS started in 2015, and issued its first business platform, Nexledger, in 2017.

Subsequently, the company introduced a digital financing platform fueled by blockchain technology and artificial intelligence, Nexfinance, that is aimed at tracking and integrating the financial files of various investment companies, generating recommendations for products, demanding insurance and handling credit card fidelity points, the Korea Herald announced in June.

While cryptocurrencies are still viewed as risky assets for the mainstream financial system, even in South Korea, the blockchain technology is considered a significant technological achievement that might help the banking system overcome the current issues that characterize transactions and data recording.

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Crypto News

Public Blockchain Technologies, Including Bitcoin (BTC) And Ethereum (ETH), Adopted By 44% Of The Entrepreneurs, According To Deloitte

Deloitte, one of the most recognized consulting firms, has published the results of its latest global surveys on the blockchain technology, data that confirm that 44% of entrepreneurs have begun to incorporate public blockchain models, including those of Bitcoin (BTC) and Ethereum (ETH), to develop their services, displacing the dominance of private blockchains in the business sector.

The document, directed and written by Linda Pawczuk, Rob Massey, and David Schatsky, compiles the opinions of a total of 1,053 entrepreneurs from China, Germany, the United Kingdom, Canada, the United States, France, and Mexico.

More entrepreneurs focused on public blockchain technologies

The survey yielded information relevant to the adoption of blockchain technology at the enterprise level, highlighting among it the entrepreneurs’ vision regarding Distributed Ledger Technology (DLT) in the long-term market. For example, about the blockchain model that generates more significant attention to companies to develop activities, 52% of firms focused on authorized blockchains stand out, that is to say, that they require a permit to access.

Private blockchains, with one or two nodes and coordinated by companies, continue to play a leading role with 44% of entrepreneurs focused on developing services with this model.

However, the surprise was given by the public blockchain technologies, including those of Bitcoin (BTC) and Ethereum (ETH), among others, which also have 44% of the interviewees interested in focusing their activities on their model.

Blockchain doesn’t really do anything unless it is paired with a solid use case where it can serve as a kind of Trust-as-a-Service (TaaS) for ecosystem participants. In short, it is more an enabler of business models than a technology. Understanding this is key to discerning the difference in how digital enterprise (traditional) organizations view blockchain compared to digital enterprises.

Deloitte

Respondents’ answers regarding the future of blockchain technology also stand out

84% of entrepreneurs believe that, in the future, blockchain could become a highly scalable technology adopted by a large part of the population, while 77% think that it will serve to optimize value chains.

In line with this perspective, 69% of entrepreneurs plan to have blockchain technology as a replacement for the company’s current records system, while 59% believe that Distributed Ledger Technology (DLT) will have a high impact on the way the industry works.

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Crypto News

Ohio State Legally Recognized Blockchain Technology And Smart Contracts Utility

Ohio became one of the first territories to legally recognize blockchain for the storage and transmission of information throughout the United States after the state governor signed a bill on Monday that legalizes such technology applied to a wide range of industries.

Through Bill SB300, which directly amends Ohio’s Uniform Electronic Transactions Act, a group of legislators introduced in May the possibility of distributed accounting technology being legally recognized in Ohio’s private and public industries for information management.

The law was approved in the first instance by the state Senate in June, and this week it was approved by the governor of the territory, John Kasich, according to a public statement.

The new legislation states that all documents scanned, sent and signed through the blockchain are recognized as authentic and even digital signatures and smart contracts can be used for commerce and will have legal effect.

Ohio State adopts a new regulatory framework to recognize blockchain technology and smart contracts utility

The initiative is mainly focused on the financial industry. However, the communiqué also highlights that supply chain companies, government authorities, and health platforms could also benefit from technological advances in distributed ledger networks.

Ohio State Senator Matt Dolan said blockchain technology could help the local economy by securing the technological and economic leadership.

“For Ohio to compete for new investments and jobs, we must welcome innovation, and new technology,” he said.

Valentina Isakina, executive director of financial services for the Ohio Private Development Corporation (JobsOhio), also said this kind of action could help move the most innovative projects to realize their full potential, an approach that will allow Ohio to expand economically.

“In Ohio, blockchain technology innovators can thrive in their efforts to develop new products and applications for the financial industry and beyond,” said Valentina Isakina from JobsOhio.

The Ohio State is one of the largest economies in the United States, ranking fifth among the most economically and financially developed states in the nation. As if this were not enough, the territory has also presented an essential development of blockchain technology initiatives, which will directly benefit from the recently passed legislation.

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Crypto Markets News

PAKET Delivery Network Based On Blockchain Plans To Dethrone Industry’s Big Players, Such As DHL And FedEx

The PAKET platform is a delivery network based on blockchain technology and is prepared to dethrone the big players in the parcel delivering industry, including DHL and FedEx, among others. Taking advantage of blockchain technology to create a transparent and accountable delivery process for the international parcel delivery industry, PAKET is close to becoming a fierce competitor for the already-existing conventional names in this sector of activity.

Today’s global package delivery industry is experiencing rapid technological and procedural change as a consequence of the implementation of new technologies and the growth of online retailing, especially.

These changes imply the inflow of new entrants, particularly at the regional level, where the majority of delivery activity is carried out. But the significant roles performed by the majority of the smaller participants in this industry, who form the core of the package delivery environment, have so yet to be adequately acknowledged.

PAKET delivery network based on blockchain technology plans to outperform big players in the industry, including DHL and FedEx

Some huge names like DHL and FedEx quickly pop to mind when we talk about parcel delivery. While these are still the leading international delivery providers, the fast development of online retailing necessitates increased involvement at scales where these significant operators have not been recognized.

The issue with the actual parcel delivery system is that it engages inadequately coordinated centralized bodies that are interconnected by various levels of middlemen. That is a significant loss concerning cost and quality-of-service, allowing for the inadequacies to exist in the present situation of the package delivery industry.

PAKET is an open network, based on blockchain technology, which provides unlimited access to opportunities for all levels of participants in the global delivery industry. Either as a private individual or as a company, everyone can become a member of the unquenchable pool of service suppliers and be paid for the work they perform.

For the end users, this implies a more secure, transparent and trackable parcel delivery network that guarantees an efficient delivery service.

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