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IBM And Jewelry Industry To Use Blockchain Technology

With the introduction of Bitcoin, the concept of cryptocurrencies was born and blockchain technology was invented to provide the basis for the digital currency systems to operate. Bitcoin became highly scrutinized for its controversial nature and since blockchain technology saw its formation as a facilitator for the decentralized alternative economic system, it also faced the backlash of the criticism. It was only later that people started to see blockchain technology as something that is more than just a record book for a controversial and volatile currency. The uses of blockchain technology extend far and beyond from simple payment systems. It...

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Developers Think Ethereum Blockchain Fork Might Just Happen

In light of the recent situation in the world of the Ethereum blockchain, it is becoming more and more likely that the world’s second largest cryptocurrency might see a hard fork some time soon. This is something that even the top developers of the Ethereum blockchain network are contemplating. Last week saw a meeting take place amongst the top dogs of the Ethereum blockchain network where they were discussing one of the proposed Ethereum improvement protocols called EIP-999. There was talk about how that proposed change could result in the hard fork, which will make two competing cryptocurrencies from the...

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BBVA To Issue Loans Via Distributed Ledger

The world's first blockchain based loan has been issued by Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) in what is seen to be a huge leap forward for the adoption of blockchain technology. BBVA are considered to be one of the biggest lenders in Spain, suggesting that this move is not just a short experiment, it at least suggests that BBVA are looking to integrate blockchain into their services sooner, rather than later. This loan of course is not a typical loan, reports suggest that is is actually worth around $91.33Million and involves BBVA loaning funds to a corporate client,...

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How Dubai Is Eliminating Cheque Related Fraud Using Blockchain

Dubai’s largest bank, Emirates NBD aims to eliminate cheque related fraud by introducing a blockchain project. ‘Cheque Chain’ is the first project to successfully go live, with the sole aim being to reduce, and eventually completely eliminate cheque related fraud. A pilot was carried out last year, which was overseen by Emirates NBD Future Lab, and it proved to be very successful, so much so, that the bank is now planning to roll out the security-enhancing technology for all customers across the UAE. The project aims to integrate blockchain technology into specific issued cheques in order to strengthen their authenticity....

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UK Government Interest In Blockchain Technology Reaffirmed

A report out today by Gov.uk, the UK government information website discusses a talk from RT Hon Matt Hancock MP at the Law Society at the London Blockchain Conference, which took place yesterday evening (18th of April 2018). We know of late, the UK government have been establishing plans to pay close attention to blockchain technology, in order to establish fair and reasonable regulations through which, hopefully, UK citizens will be encouraged to use cryptocurrencies, safely. Hancock highlighted three areas in which he believes the UK could benefit from blockchain integration these include; the financial sector, government services and innovation....

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