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Amazon Cloud Blockchain Test Finds Its Way Faster Than Bitcoin

CSIRO, Australia’s National Science Agency, in partnership with Sydney University have revealed that, through using the Amazon Cloud, the pair have managed to achieve a blockchain transaction settling time of 30,000 transactions per second. Bearing in mind that Bitcoin can settle around 8 transactions per second and that Ethereum can achieve around 15 transactions per second, CSIRO’s findings are actually quite significant. According to CSIRO, this came about through an experiment on the Amazon Web Services AWS cloud infrastructure. Named ‘Red Belly Blockchain’ the experiment was tested on 1,000 machines across Europe, Australia, North America and South America. Red Belly...

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FBI And IRS Unmasking Crypto Investors By Paying Firms

Uncle Sam is snooping on crypto investors, many of whom believe they're transacting anonymously on the web. U.S. government spending on blockchain analytics has nearly tripled — $5.7 million to date in 2018 compared to $1.9 million last year, according to Sept. 25 Diar report. Some of those funds are used to unmask digital identities. Agencies are awarding contracts to blockchain analysis firms with much of the taxpayer-funded dollars having been awarded to New York-based Chainalysis. "Blockchain analysis is … frequently used by law enforcement agencies to identify illegal activity and attempt to link identities to pseudo anonymous bitcoin addresses."...

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Regulators Must Lead On Blockchain: IBM Report

Blockchain reduces paper processes, speeds up transaction times, increases efficiencies and builds trust among participants to a transaction, according to Sept. 23 IBM report on how distributed ledger technology (DLT) can improve how the federal government does business. The report was authored by Thomas Hardjono, director of the MIT Trust: Data Consortium. It's titled "The Impact of Blockchain for Government: Insights on Identity, Payments, and Supply Chain." Hardjono explores several areas where blockchain can benefit government agencies and how regulators and policymakers can lead the way to mass adoption of the tech that drives economic vitality. The author, writing on...

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75 More Banks To Join JP Morgan Chase Blockchain Payments Platform

International investment bank and financial service provider JP Morgan Chase have announced the enrolment of 75 new banks on their new and growing blockchain payment platform. The platform is a part of a collaboration between JP Morgan, ANZ and the Royal Bank of Canada. The first trial on the platform was established in October 2017 and has been designed to utilise the blockchain to create a fast and flawless interbank payment system that still uses traditional banking currencies and methods. The idea is to take the framework for traditional interbank payments and to place it directly onto the blockchain. So...

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Walmart's New Blockchain System To Reshape $1.5 Trillion Food Industry

Two Fortune 100 companies have teamed up to drastically alter the $1.5 trillion food industry by leveraging blockchain technology. Walmart, the largest U.S. company, announced on Monday that it will require suppliers to install blockchain systems by September 2019 to track food items from farm to table and prevent E. coli, Salmonella and other health outbreaks that threaten the safety of its millions of customers. Walmart (NYSE: WMT), which has 2016 revenues of $486 billion, and subsidiary Sam's Club partnered with IBM Blockchain (NYSE: IBM) on a disruptive initiative that is sending shockwaves throughout America's food supply chain. (The story...

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