Tag: Blockchain Technology

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Crypto

Blockchain Technology To Be Applied By Walmart For Its Online Stores

Walmart has registered a patent for an online purchase and payment service that uses blockchain technology. The document, filed with the United States Patent and Trademark Office defines the various methods by which a buyer can acquire Walmart products, either in person or through the Internet.

Particularly, when buying from the Internet, some possibilities are reduced to select products according to more specific demands or with certain conditions.

The new system is designed to tackle some issues

The present concept provides a system for buyers who should order products online while still being able to select products provided by the physical purchase in the store using a guide system.

As part of this system, these concepts include a shared system of payments to the seller. This system and method, coordinated with some other features, allows a user to make the payment, which is encrypted and shared with the other vendors who worked together to complete the buyer’s order.

In this way, it is explained that the integrated payment system helps the buyer to choose their products and once the payment is made, it is automatically distributed among Walmart employees or sellers who worked in that work. This would be possible through blockchain.

Walmart has been involved in blockchain technology for a long time, now

It is likely that Walmart will create a purchase history for each client until a more accurate profile is developed about their interests, although the blockchain technology proposed in this patent includes reciprocity and communication with the customer.

The system would record the information in the blockchain, giving it the known benefits of distributed blockchain technology, such as security, immutability, and transparency, among others.

Regarding automation in the payment distribution, it is not specified if Walmart would use a mechanism such as smart contracts or it will create their own blockchain.

Walmart has been involved in blockchain technology for some years, although this time the patent aims to integrate the system in its physical and online stores, which if materialized would represent a milestone in the industry.

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Crypto

JP Morgan And The National Bank Of Canada To Run Blockchain Technology

JPMorgan Chase & Co and the National Bank of Canada (NBC), together with other firms, tested a blockchain platform for the issuance of debt certificates, in order to make the different stages of the process more efficient. In a press release issued by the National Bank of Canada on Friday, the issuance of a one-year deposit certificate of $150 million, was reported, and this process was accompanied by a simulation of the issue in parallel, through the use of a blockchain platform.

Other participants in this test, were Goldman Sachs Asset Management, Pfizer, and Western Asset. According to Investopedia.

The platform that was tested in conjunction with the National Bank of Canada was the blockchain Quorum, which is an open-source variant of the Ethereum (ETH) blockchain, adapted to security and privacy requirements of corporate applications. JP Morgan defines Quorum as Ethereum’s version focused on companies.

Among the benefits of Quorum, according to JP Morgan, the bank stresses that it is designed for applications “that require high speed and high processing capacity of private transactions within a permissible group of known participants”.

The technologies related to blockchain have the potential to bring great changes in the financial services industry

“The National Bank of Canada is proud to join forces with JP Morgan to test blockchain technology in the context of the issuance of a certificate of deposit. This is a unique opportunity to expand our knowledge in the blockchain. The National Bank of Canada will continue to innovate in the following years in the search for new ways to offer our partners more added value,” said David Furlong.

It should be noted that JP Morgan is the largest bank in the United States and has maintained a strong reserve attitude towards cryptocurrencies. Recently it was among the banks that prohibited the use of their credit cards for the purchase of cryptocurrencies.

Despite this, JP Morgan has been open to the potential of blockchain technology, which supports them. In general, the National Bank of Canada has shown a lot of interest in blockchain technology, despite its multiple reserves against cryptocurrencies, with which the financial world could manage the opportunities and challenges that the adoption of the blockchain.

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Crypto Finance News

Soft Cryptocurrencies Regulations Are The Solutions Proposed By The IMF Director, Christine Lagarde

The boss of the IMF believes that crypto coins and blockchain technology could lead to a “more efficient and potentially more robust” financial system but only if soft cryptocurrencies regulations will be adopted.

A month ago, Christine Lagarde warned, in a blog note, about the “dark side” of cryptocurrencies, citing their high volatility and the fact that they can be used for money laundering or terrorist financing. But, as the boss of the IMF prepares to welcome in the Washington political leaders and central bankers for the traditional spring meetings, the former French Minister of Economy split Monday a new blog note where she shared another point of view, now recognizing the crypto and blockchain technology value but only under the conditions of soft regulations.

Undeniable security and speed

Drawing a parallel with the first financial bubble in history, the Tulipomania in Holland in the 17th century, Christine Lagarde first points out the following:

With more than 1,600 cryptocurrencies in circulation, it seems inevitable that many of them will not survive to the process of creative destruction. But those who take root will “have an impact on the way we put money aside, invest and pay our bills.

Christine Lagarde

Christine Lagarde praises, in particular, the speed and the low-cost of the financial transactions conducted via cryptocurrencies blockchain.

The IMF leader also emphasizes the security of transactions enabled by the blockchain technology, stressing out, again, that the cryptocurrencies and blockchain technology could have applicability for governments but only under soft cryptocurrencies regulations.

A more balanced ecosystem

Christine Lagarde hopes that decentralized services stimulated by cryptocurrencies will lead to a diversification of the global financial landscape and ultimately, they will create a more balanced ecosystem, which will be, at the same time more efficient and more secure.

However, the IMF director remains vigilant, saying that cryptocurrencies must still “win the trust and support of consumers and authorities,” which, according to her, is only possible by the implementation of soft cryptocurrencies regulations a better definition of the blockchain role in the financial sector.

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Crypto News Tech

Ethereum (ETH) Blockchain To Be Used By NASA For Space Exploration

A science project developed and funded by NASA has in planning to use Ethereum (ETH) Blockchain technology for deep space exploration. Dr. Jin Wei Kocsis is the leader of this surprising project and got a $330,000 grant from NASA to create the Resilient Networking and Computing Paradigm (RNCP) which uses smart contracts blockchain technology for fast transactions.

However, the project is designed for space exploration and NASA requested RNCP to develop a “smart-spacecraft” capable of detecting and avoiding small space object, such as debris, by its own, without any human intervention.

Wei Kocsis admitted that the NASA idea is to develop a system based on blockchain technology to support the spacecraft’s instantaneous debris detection and the reduction of the ship’s dependency on engineers.

In this project, the Ethereum blockchain technology will be exploited to develop a decentralized, secure, and cognitive networking and computing infrastructure for deep space exploration. The blockchain consensus protocols will be further explored to improve the resilience of the infrastructure.

Wei Kocsis

This would be the first time when the blockchain technology will be used for space exploration

Noone at NASA (or any other space agency) has ever thought to implement blockchain, more specifically the Ethereum (ETH) blockchain technology, to create faster, smarter, and securer networks for communications and navigations for space exploration.

From the NASA’s Gleen Research Center, the Advanced Communications Program’s Manager, Thomas Kacpura, said that:

It is expected that the potential is high to contribute to the next generation space networks, and also allow tech transition of these algorithms for commercial systems.

Thomas Kacpura

The project has already received positive feedback from both space exploration enthusiasts and blockchain communities members, which stated on social media that NASA proved that the blockchain technology can have tremendous applications.

In short, NASA created and funded RNCP, a project designed to implement the Ethereum (ETH) blockchain technology for changing the future of space exploration.

Categories
Crypto

Switcheo – The First Decentralized Cryptocurrencies Exchange Based on NEO (NEO) Blockchain

Switcheo Exchange is the first decentralized cryptocurrencies exchange implemented on the NEO (NEO) blockchain and it has been recently launched to the happiness of the NEO holder and other cryptocurrencies traders, as well. The exchange, which launched at the beginning of the month, is based, as said, on the NEO blockchain and managed to transact about $2 million in just a few days.

10 crypto coins are available on the NEO (NEO) decentralized exchange

DeepBrain Chain, QLINK, and Red Pulse are among the available coin on this exchange but the developers have huge plans for the upcoming week and months as they plan on bringing in more blockchains of the most popular ones on the cryptocurrencies market.

At the moment, all the available coins on Switcheo Exchange are paired with NEO (NEO), Gas (GAS), and Switcheo (SWH). Here are all the available crypto coins, so far:

  • NEO (NEO)
  • Gas (GAS)
  • Switcheo (SWH)
  • THEKEY (TKY)
  • DeepBrain Chain (DBC)
  • Red Pulse (RPX)
  • QLINK (QLC)
  • Ontology (ONT)
  • Apex (CPX)
  • Trinity Network Credit (TNC)

What’s next for the first NEO (NEO) decentralized exchange

The developers plan on adding cross-chain functionality to permit their clients to easily exchange cryptocurrencies between the NEO (NEO) blockchain and Ethereum (ETH) blockchain.

In a longer term, the developers plan to implement ERC20 tokens to the exchange platform but this will not happen before Q3 2018. Besides, the QRC 20 (QTUM) coins are also targeted by the NEO exchange’s teams, which admitted they look into Stellar (XLM) blockchain.

Switcheo (SWH) and NEO (NEO) Prices

Switcheo (SWH) has launched its first tokens sales in March and raised about $8.5 million. At this time, Switcheo (SWH) is trading at $0.02, recording a 4.35% gain in the last 24 hours.

On the other hand, the NEO (NEO) is trading at $67.97, increasing by 3.38% in the last 24 hours. At the moment, NEO (NEO) is ranked 10th by market cap, with more than $4.4 billion.

In conclusion, Switcheo Exchange is the first decentralized cryptocurrencies exchange based on the NEO (NEO) blockchain and is doing well, so far, and its developers have many great plans for the future, including implementation of other popular crypto coins.

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