Blockchain Technology Partners Unveil Smart Contracts on Amazon AWS

Customers can now integrate smart contracts on Amazon Web Services’ Quantum Ledger Database, or QLDB, thanks to tech company Blockchain Technology Partners.

Blockchain Technology Partners, or BTP, unveiled general availability for its DAML incorporation, accessible through its Sextant for DAML platform, allowing those working with Amazon’s QLDB to harness smart contracts on the platform, according to a Feb. 25 statement provided to Cointelegraph.

Amazon’s QLDB is not the first to incorporate Sextant for DAML

Prior to its Amazon QLDB launch, BTP’s Sextant for DAML boasted compatibility on Hyperledger Sawtooth, and AWS’ relational database service, Amazon Aurora.

Amazon QLDB caters to those who want to build on an immutable — but not necessarily decentralized — ledger, the statement noted.

“There are plenty of scenarios where there is a trusted centralised operator or a natural authority but there is still a requirement to ensure data is not tampered with,” BTP CTO Kevin O’Donnell said in the statement.

“DAML on Amazon QLDB addresses these use cases combining the expressive power of DAML with the resilience of AWS,” he added.

DAML is a smart contract language from Digital Asset

Digital Asset, a blockchain software company, brought its smart contract language, Digital Asset Modeling Language, or DAML, into the open-sourced world in April 2019.

Later that same month, the firm announced Hyperledger Sawtooth integration on April 16, with AWS Aurora integration following in June.

“BTP’s Sextant for DAML with QLDB makes it seamless to run distributed applications without the operational overhead or compromising security,” Digital Asset Co-Founder and CTO Shaul Kfir said in the statement.

Digital Asset also partnered with mainstream cloud software powerhouse VMware in April 2019.

Cointelegraph reached out to Amazon for additional details but received no response as of press time. This article will be updated accordingly should a response come in.

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Progressive Growth of Blockchain Software Market Future Growth, Demand, Trends, Size, Share …

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IBM and Intel Create an Open Source Project To Form Smart Contracts

IBM and Intel create an open-source project Fabric Private Chaincode that enables a new form of smart contract to attain the Intel Software Guard Extention (Intel SGX) advantages and further aid privacy and integrity in The Linux Foundation’s Hyperledger Fabric blockchains.

The new model of smart contracts is appropriate for applications where it is profitable to use the known blockchain properties of allocating, decentralized execution, and immutable ledger. This is exactly how it is supposed to work. During the process, the data is meant to be kept private, even from the participants running the blockchain network.

The Fabric Private Chaincode project is an excellent example of how IntelSGX, which enhances the value of blockchain by accrediting new business models which is primarily based on a new model of trust. The existing Hyper Ledger ensures smart contract integrity by having multiple peers to execute similar chain codes and verify if their results match. This works better for use cases and not for systems that require private execution.

It is not just the Confidentiality that is sufficient to ensure if the participants can trust the smart contracts, meanwhile, it also requires integrity to allow participants to be confident about their choice of using smart contracts.

IBM believes that the adoption of Trusted Execution Environment technology for the probability of high risks in use cases today will help to cover the way for more general adoption in many other use cases in the future.

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Richest Man in Russia Launches Token Trading Platform Atomyze Testnet On IBM’s Hyperledger …

Russia’s wealthiest man – Vladimir Potanin – has made progress towards the launch of a blockchain-based commodities and assets platform.

As a matter of fact, the venture – called Atomyze – launched in test mode today. The smelting and mining firm Nornickel, which also belongs to Potanin, will have its assets be the very first to be tokenized and featured.

These tokens will enable rapid transactions while enabling surplus supply trading, which will streamline interactions between businesses and customers.

Atomyze Based on IBM’s Hyperledger Fabric

Based on IBM’s Hyperledger Fabric blockchain technology, Atomyze will have Traxys, Trafigura and Umicore, all partners of Nornickel, at its launch.

Invites for these companies’ participation have been sent. Potanin gave an interview to Bloomberg, announcing that his other businesses will undergo tokenization to feature on the platform in the foreseeable future.

Crypto Tokens to Account for One-Fifth of Nornickel’s Sales

Potanin estimated that crypto tokens will end up accounting for a fifth of Nornickel’s assets. Nornickel is currently the largest producer of refined nickel and palladium in the world.

To begin, the first tokens to be tested will be backed by copper, cobalt, and palladium.

The platform will trade tokens backed by metals for physical supplies. While companies with a surplus from the contract volumes with Nornickle will be able to trade these with other parties.

In order to include the billionaire’s other businesses, Atomyze will have to obtain central bank approval. After being given approval from the central bank to include a user base with his platform, Potanin had this to say:

“To some extent, Russia appears [to be] ahead of many other jurisdictions in terms of digitalization.”

Atomyze – Available Only to Businesses Outside Russia

Outside Russia, Atomyze will be available only to businesses in Switzerland and the US. The venture is currently awaiting the finalization of the Russian digital financial assets law.

Potanin expects his platform to launch by the end of 2020. Nornickel partnered up with IBM in order to launch an educational program for developers who want to create digital tech for the metals and mining industries.

Alukoenigstahl, the Austrian steel trading company, is also working on its own blockchain-based Steel Smart trading data system.

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Russian Smelting Giant Nornickel Launches Metal Tokenization Platform for Testing

Nornickel, the Russian mining and smelting giant, has taken another step toward the issuance of tokens backed by metals on Atomyze, a Hyperledger-based blockchain platform.

The platform is now launched for testing alongside a handful of Nornickel’s partners including commodity trading company Trafigura, metal refinery firm Umicore and supply chain consultancy Traxys, according to an announcement Tuesday. (All three have been involved in early-stage trials with Nornickel since December, Bloomberg reported at the time.)

Later, a wider circle of institutional players will have access to the distributed ledger technology (DLT) platform, according to Atomyze. It’s expected to serve the companies from Switzerland and the U.S., as Nornickel CEO Vladimir Potanin told Bloomberg Tuesday morning.

Related:Russia’s Central Bank Proposes New Token Framework, but Labels Crypto Transactions ‘Suspicious’

Users in Russia might also be able to access Atomyze by the year’s end, but only if long-in-the-works regulations clarifying the status of digital assets have been passed by that time.

The first batch of tokens will be backed by palladium, cobalt and copper mined by Nornickel. Over the first year, Nornickel expects to tokenize up to 10 percent of its overall sales volume – a number that may rise to 20 percent in the future, the firm said.

Umicore and Traxys didn’t respond to CoinDesk’s requests for comments by press time. However, a Trafigura spokesperson said the company is “in advanced discussions to participate” in Atomyze and “is looking forward to taking an active part in the testing phase of the platform.”

Atomyze was created by Tokentrust, a Swiss entity led by CEO Marco Grossi, a former director of Deloitte Switzerland. Tokentrust’s board includes Alexander Stoyanov, the managing director of Nornickel’s subsidiary Global Palladium Fund.

Related:Binance Adds Support for Fee-Free P2P Trading With Russian Rubles

IBM was also involved, acting as the project’s lead technology partner. Big Blue “participated in the development of the platform and in the integration of the advanced BFT (Byzantine Fault Tolerant) consensus mechanism, which allows implementing a system with an open governance model when using the Hyperledger Fabric framework,” a company representative said.

Atomyze is further applying for a securities license in Switzerland that would allow it to operate an organized trading facility (OTF), Grossi said through a spokesperson.

Atomyze is “in discussion with large institutional and professional organizations from various industries who are envisaged to participate in our DLT network by running independent nodes to ensure the right level of decentralization,” the spokesperson said.

The network will run in IBM’s public cloud and comply with the European privacy protection law known as the General Data Protection Regulation (GDPR) and a security regulation called Cloud Computing Compliance Controls Catalog (C5), Atomyze said.

Nornickel has been working on tokenizing its metals for a while, aiming to turn them into more liquid assets and make the sales process easier and more flexible, Nornickel CEO Vladimir Potanin said in October.

The company joined the Hyperledger enterprise DLT consortium last summer. Nornickel has been testing the solution inside a regulatory sandbox set up by Russia’s central bank. However, a lack of clarifying regulations for digital assets means it can’t go live.

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Alontrus Group Sponsors the NJ Hyperledger Meetup to Introduce Alibaba Cloud, Blockchain and …

An Educational and Networking Event to Discuss Hyperledger 2.0, Enterprise Ethereum Platform, Alibaba Cloud and DataKNOX™- A Distributed Ledger Technology.

MORRISTOWN, NEW JERSEY, USA, February 24, 2020 /EINPresswire.com/ — Alontrus Group, headquartered in New York, New York, joins Chainbelow, a not for profit education firm based in northern New Jersey, to present an educational and networking event to discuss the recent release of Hyperledger 2.0, the Enterprise Ethereum Platform, Alibaba Cloud and DataKNOX™- A Distributed Ledger Technology (DLT).

Alontrus Group will unveil DataKNOX™, the next generation of DLT. DataKNOX™ is a high-speed centralized authority that eliminates the overhead of consensus algorithms. Hashing files ensures data integrity and SHA-512 encryption ensures data security. DataKNOX™ is an immutable, append only database that provides provenance for sensitive data. For reliability, DataKNOX™ is self-replicating across hundreds of cloud instances. DataKNOX™ also provides secure high-speed data transport to enhance cloud migration. All the features of Blockchain in a light weight distributed ledger.

Alontrus Group, LLC has launched with a team of seasoned Blockchain and DLT veterans to address reconciliation challenges in the Healthcare, Banking, Financial Services and Insurance sectors. The group has an extensive partner network and a portfolio of use cases across Oracle, AWS, Alibaba Cloud, Google Cloud, and Microsoft Azure, based on Hyperledger Fabric and DLT.

The Hyperledger networking and educational event will be held at the Morris County Library in Whippany, NJ on February 26, from 4:30 to 8:30 pm. The Hyperledger and Enterprise Blockchain communities are invited to attend. Food and refreshments will be provided and an opportunity to win a $100 Ruth Chris gift card.

Space is limited so please register at Hyperledger MeetUp NJ. A $5 donation is suggested.

About Alontrus Group:

Alontrus Group automates reconciliation and settlement processes using Blockchain and Next Gen technologies for Healthcare and Corporate Finance. They are Protocol, Cloud and Platform agnostic, based in the U.S.A. with global resources. Their in-depth knowledge of various enterprise blockchains and cloud platforms allows them to offer a unique perspective to their customers.

For more information, contact Richard Brownstein: info@alontrus.com or 917.830.6641

About Chainbelow:

Chainbelow Inc, is a not-for-profit education corporation and an authorized training partner for the Linux Foundation. Members of Chainbelow ensure that the majority of training materials they produce are high performance and open sourced. They provide small and medium-sized organizations with the adequate training to run a software-driven business.

For more information: info@chainbelow.org

Richard Brownstein

Alontrus Group

+1 917-830-6641

email us here

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Global Blockchain Technology in Supply Chain Management Market research report 2020 size …

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Employers can now spot fake resumes with this blockchain tech

In brief

  • Job applications often fake resumes to get hired, and data verification is a complex, costly and error-prone process for recruiters.
  • EagleCheck, a Spain-based startup, has developed a blockchain solution to conduct this process efficiently and reliably.
  • The platform runs on Hyperledger and already operates in the UK and United States.

In a hyper-competitive business world, some job-seekers are increasingly feeling the need to fake resumes to better their chances of landing employment.

Prospective applicants are also becoming more aware that companies are now using software to automatically remove CVs and resumes that don’t include certain keywords. But what these applications don’t detect are the small (and sometimes big) lies that some job applicants put out to avoid being eliminated in the first place.

EagleCheck, a Barcelona-based startup created by five students, seeks to solve this problem. Decrypt spoke with Lucas Gil Cantón, CEO of EagleCheck, which is using Hyperledger technology to crack down on fake resumes and job fraud.

“CV fraud has become so commonplace that many dishonest applicants go unnoticed,” Cantón said. “This could be due to growing pressure to fill positions quickly, since a survey conducted by SimplyHired found that 85% of job applicants lie. Meanwhile, 46% of hiring managers don’t check references, and 65% don’t check a candidate’s education,” he said.

EagleCheck was founded with seed funding from Mousebelt Accelerator, a Silicon Valley-based CV firm. The company used that funding to grow and develop a solution to tackle job fraud using blockchain.

The startup helps employers check the backgrounds of job applicants, thereby significantly reducing response times by automating this process. “Our decentralized platform helps background detection companies find information more easily and quickly,” said Cantón. “Our software uploads the resume information, performs a data integrity check, and once we check that what’s there is real, we give the green light,” he explained.

Big little lies

While small exaggerations can be relatively harmless, some candidates might outright lie about crucial aspects of their work histories—something that’s been known to happen even at the highest levels of the business world.

For example, when former PayPal president Scott Thompson was appointed Yahoo CEO in January 2012, his resume said he had degrees in accounting and computer science from Stonehill College. That, as it turns out, was a lie.

Daniel S. Loeb, founder of the Third Point hedge fund and a Yahoo shareholder, investigated Thompson’s background and discovered that the new CEO had no degree in computer science, resulting in a huge scandal. Thompson left Yahoo that same year.

“In our background screening, we are starting to work with many companies in the UK and US that have a manual and very expensive processes,” said Cantón. “Nowadays you don’t need to pick up the phone and call each university; blockchain is more intuitive and accurate,” he said.

“We opted for Hyperledger because it allows us to perform this process faster and less costly. We liked Ethereum, but it was not sustainable on a large scale, because of its high operating costs,” explained the CEO.

Based on EagleCheck estimates, the process of hiring a job applicant is around $4,000. “In Spain and Latin America, companies don’t [want to] spend this king of money. They prefer to believe what you put in your resume, and we have already seen this in political cases that have outright lied,” he said.

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Forbes Releases 2nd Annual Blockchain 50 List Of Companies

image

Edited by Michael del Castillo and Matt Schifrin

Reported by: Lauren Debter, Millie Dent, Michael del Castillo, Sarah Hansen, Jeff Kauflin, Chloe Sorvino, Hank Tucker.

NEW YORK – February 19, 2020 – Forbes today announced its second annual Blockchain 50 List, a compilation of the top 50 companies and organizations that are leading the pack adapting decentralized ledgers to their operating needs. The list represents enterprises embracing the technology underlying cryptocurrencies like bitcoin and using it to speed up business processes, increase transparency and potentially save billions of dollars. While many companies on this year’s list are well known brands like Amazon, BMW, Microsoft, JPMorgan and Google, there are a few cryptocurrency startups, like Bitfury, Coinbase and Ripple, that have already met the criteria for the list and are creating waves in the industry.

The Blockchain 50 companies span a wide range of industries and are heavily investing in the technology to improve their businesses. Unsurprisingly, financial firms, including names like Credit Suisse, Citigroup and JPMorgan Chase, dominated the list, but the Blockchain 50 ran the gamut of industries, including Nestle, the world’s largest publicly traded food company, retailers Amazon and Walmart, LVMH in luxury, BMW in automotive and tech giants like Google Facebook. All companies considered hold a minimum revenue or valuation of $1 billion or more.

“Blockchain started as a way to move bitcoin from point A to point B but it is now being used by a host of big companies to monitor and move any number of assets around the world as easily as sending an email,” saidMichael del Castillo, Associate Editor, Forbes. “The 2020 Blockchain 50 proves not only that global entities continue to embrace the technology underlying bitcoin but that many blockchain projects have moved beyond the theoretical or testing phase, to producing real transactions, costs savings and other benefits.“

About half of the companies on the list are newcomers including The United Nations, a 75-year old organization, has numerous blockchain initiatives, the second largest bank in the world, China Construction Bank, Russia’s National Settlement Depository, and Jack Dorsey’s Square.

_____

Amazon

Seattle, WA

As an extension of Amazon Web Services, the e-commerce behemoth offers blockchain tools for companies that don’t want to build their own. In Australia, Nestle used Amazon’s blockchain product to help launch a new coffee brand, “Chain of Origin,” where consumers can look inside the coffee’s supply chain: They can scan a QR code to see which small farm the beans were planted at and where they were roasted. Other Amazon blockchain clients include Sony Music Japan, BMW, Accenture and South Korean craft brewery Jinju Beer.

Blockchain: Hyperledger Fabric

Key Executive: Rahul Pathak, general manager for databases, analytics, and blockchain at AWS

Ant Financial

Hangzhou, China

Its finance platform called Duo-Chain has facilitated $1.5 billion in quick loans to cash constrained suppliers like Sichuan’s GuanYong Computer. Ant uses its own proprietary blockchain to verify the receivables and make payments.

Blockchain: Ant Blockchain Technology, Hyperledger Fabric and Enterprise Ethereum (Quorum)

Key Executive: Geoff Jiang, vice president of Ant Financial

Anthem

Indianapolis, IN

At the end of 2019 the health insurance company started rolling out a blockchain powered feature that allows patients to securely access and share their medical data. In the next two to three years, all 40 million members will gain access to it.

Blockchain: Hyperledger Fabric

Key Executives: Mariya Filipova, VP Innovation, Plamen Petrov, VP Exponential Technologies, Rajeev Ronanki, Chief Digital Officer

Aon

London, U.K.

Besides brokering a $255 million policy protecting Coinbase against losses from hacking, Aon is building a blockchain platform to speed up insurance operations. Creating a new reinsurance contract—where insurers buy their own insurance to hedge their risk—is clunky, with insurers using different systems to send and receive quotes. Aon is building a shared platform where big re-insurers can work off of the same system. So far Everest Re and RenaissanceRe have signed on to test and help design the project.

Blockchain: R3 Corda

Key Executive: Robert Olson, chief information officer of Aon Reinsurance Solutions

Baidu

Beijing, China

China’s search giant has numerous blockchain ventures, including a canine version of Cryptokitties, which allows millions of Chinese to adopt and trade cute digital puppies, each distinct, that “live” on the blockchain. Another service offers student loans, but funds are disbursed only after the technology is used to verify grades. Baidu uses a popular open-source blockchain originally developed by IBM.

Blockchain: Hyperledger Fabric

Key Executive: Li Feng, head of blockchain

Bitfury

Amsterdam, Netherlands

The mining — cryptocurrency, not minerals — equipment maker has also customized the bitcoin blockchain so that clients can build their own apps. Graduates of Dubai’s Synergy University, for example, can use a Bitfury’s Exonum blockchain to verify their credentials for potential employers.

Blockchain: Bitcoin, Exonum

Key Executive: Chris Dickson, head of blockchain solutions

BMW

Munich, Germany

The luxury automaker currently has a pilot program with suppliers with plants in Europe, Mexico, and the US and is using blockchain to track materials, components, and parts across its supply chain. BMW is also a member of the Mobile Open Mobility Initiative (MOBI), which is made up of a consortium of auto manufacturers including Honda and Ford. In July 2019, Mobi launched the auto industry’s first blockchain vehicle identity standard, which gives new cars a digital identity. The technology could eventually track events throughout a car’s life and be used to connect vehicles to share information, track speed, location, direction of travel, braking and even driver intention (like changing lanes).

Blockchain: Hyperledger Fabric, Ethereum, Quorum, Corda and Tezos

Key Executive: Andre Luckow, head of distributed ledger and emerging technologies

Broadridge

New York, NY

Last summer, ADP spinoff Broadridge acquired blockchain software built by financial services firm Northern Trust designed to help manage the entire life cycle of private equity investments. The tool automates the manual middle office functions of PE transactions, like managing legal agreements, and streamlines the process of gathering data and communicating with investors. It’s currently available for funds based in Guernsey and Delaware. In the second half of 2020, Broadridge has plans to go live executing bilateral repurchase agreements (repos) on the blockchain.

Blockchain: Hyperledger Fabric, Quorum, Corda, DAML (Digital Asset Modeling Language)

Key Executive: Mike Tae, Head of Broadridge’s Corporate Strategy

Cargill

Wayzata, MN

America’s largest private company launched its own privacy-focused platform called Splinter in 2019, which enables members of its vast supply chain to use distributed applications to communicate and transact. Cargill is mum on details but says the applications are vast and touch all aspects of the company’s business transactions. Cargill began testing Intel’s Hyperledger Sawtooth before Thanksgiving 2017 to track turkeys from farm to supermarket and also previously worked with startup Bitwise to build a customized blockchain called Hyperledger Grid.

Blockchain: Hyperledger Sawtooth, Hyperledger Grid

Key Executive: David Cecchi, senior director, engineering

China Construction Bank

Shanghai, China

The world’s second largest bank has nine blockchain projects in operation including one that helps trace pharmaceuticals to their origin, another that tracks carbon credits, and one that shows how government grants are spent. BCTrade is farthest along connecting 60 financial institutions including Postal Savings Bank of China, the Bank of Shanghai and the Bank of Communications, to 3,000 manufacturers and import & export trading companies involved in commerce. Today, cash-strapped exporter waiting for a shipment to be confirmed can take out a loan in a matter of minutes by sharing a record of the future receivables on the blockchain.

Blockchain: Hyperchain, Hyperledger Fabric

Key Executive: Lei Xing, blockchain as a service platform lead

Citigroup

New York, NY

Citi recently digitally issued its first letter of credit using its trade finance focused blockchain Komgo. Citi is also working with Goldman Sachs and 13 other trading firms to automate the matching and reconciliation of equity-swaps derivative contracts using Axoni’s Axcore blockchain. By moving the entire work-flow to blockchain Citi hopes to reduce errors and operational costs and minimize disputes over the valuation of assets.

Blockchain: Axcore, Symbiont Assembly, Quorum

Key Executive: Puneet Singhvi, markets and securities services lead for Blockchain

Coinbase

San Francisco, CA

Eight years after its start, Coinbase has opened 35 million accounts, presides over $21 billion of assets and is on target, we estimate, to top $800 million in revenue this year. Think of Coinbase as the blue chip among dozens of cryptocurrency exchanges, abiding by regulations and serving institutional investors, pension funds, endowments and retail investors alike. In February 2020, Coinbase announced that it had received authority from Visa to issue its own credit cards. Click here to read more.

Blockchain: Bitcoin, ethereum, XRP and 24 others

Key Executive: Brian Armstrong, co-founder and CEO

Credit Suisse

Zurich, Switzerland

This Swiss banking giant has been investing in blockchain since 2015, when it became a founding member of blockchain consortium R3. It is now working with the parent company of bitcoin exchange itBit, to settle U.S. listed equity securities using a blockchain. Another blockchain partnership with Deutsche Börse has reduced settlement times for government and corporate bonds to the same-day.

Blockchain: Corda, Paxos

Key Executive: Emmanuel Aidoo, head of digital assets markets

Daimler

Stuttgart, Germany

The German auto giant has overseen a number of blockchain pilots, ranging from letting Daimler truck owners make payments for fuel using e-euros to issuing a one-year €100 German debt instrument known as a Schuldschein. It is also using blockchain technology to track contracts along the supply chain through subsidiary Mercedes-Benz.

Blockchain: Hyperledger, Corda, Ethereum

Key Executive: Jonas von Malottki, Open Source Priority Lead

De Beers

London, U.K.

The end of blood diamonds? De Beers’ new software, Tracr, follows diamonds, which have undergone 3D scans, as the gems are mined, cut, polished and sold. Already more than 30 participants including Signet Jewelers—owner of Kay, Zales and Jared—have signed on. Tens of thousands of stones are being registered per month.

Blockchain: Ethereum

Key Executive: Jim Duffy, CEO of Tracr

Depository Trust & Clearing Corporation (DTCC)

New York, NY

Global securities warehouse DTCC will soon move its $10 trillion credit derivatives business to a blockchain. These derivatives represent some 50,000 accounts held by some of the largest financial institutions in the world. Previously each institution would keep its own record requiring continuous reconciliations and redundant efforts. DTCC’s new shared ledger will eliminate waste and paperwork.

Blockchain: Axcore

Key Executive: Rob Palatnick, global head of technology research and innovation; Jennifer Peve, managing director, business innovation

Dole Foods

Charlotte, NC

After several high-profile recalls last decade, Dole has adopted blockchain across all fruit processing, from millions of pounds of bananas to pineapples and peaches. Customers at Walmart can now check where their fruit comes from by scanning a QR code. Dole’s entire vegetable business, which has suffered recalls in spinach and coleslaw, is up next. Dole’s new level of traceability starts on the farm and ends at the grocery aisle. Current transaction volumes through partner IBM Food Trust are about 11,300 transactions a day, or 2.3 million a year.

Blockchain: IBM Blockchain, Hyperledger Fabric

Key Executive: Natalie Dyenson, Vice President, Food Safety & Quality

Facebook

Menlo Park, CA

Last June Facebook boldly announced its plans for libra, a cryptocurrency backed by a basket of stable assets including the U.S. dollar and government bonds. The announcement brought Facebook haters out of the woodwork who were loathe to cede monetary control to the same company whose laissez faire approach to its technology may have contributed to the unexpected outcome of 2016’s presidential election. Already many original libra backers including Visa and Mastercard have dropped out of Facebook’s consortium. Stay tuned however, the Libra Association that administers the blockchain code says it will launch the cryptocurrency in 2020 — if it can get regulatory approval.

Blockchain: Hotstuff

Key Executive: David Marcus, head of Calibra, Facebook’s cryptocurrency wallet; Morgan Beller, co-creator of Libra, Head of Strategy at Calibra

Figure

San Francisco, CA

This unicorn has facilitated more than $800 million in home equity loans, mortgage and student loan refinancings for lenders including Franklin Templeton and Jeffries. All documents are stored and algorithmically verified on its Provenance blockchain platform.

Blockchain: Hyperledger Fabric

Key Executive: Jennifer Mitrenga, head of Americas, Provenance

Foxconn

Taipei, Taiwan

The iPhone maker’s trade-finance venture, Chained Finance, pays more than 20 electronics suppliers using digital coins minted on the Ethereum blockchain. The result: Financing costs have plummeted from annual percentage rates as high as 24% to 10%, and the time needed to get funding has been cut from seven days to same-day. Foxconn uses Ethereum’s blockchain, famous for innovating so-called smart contracts, which automate financial transactions.

Blockchain: Ethereum

Key Executive: Jack Lee, acting CEO, Chained Finance

General Electric

Boston, MA

GE is actively exploring blockchain through its $30 billion (revs) Aviation subsidiary, which has built what it calls a “back-to-birth” record of an airplane engine that records important details of the manufacturing process and specifics about maintenance performed. In an industry where complete, easily-accessible records are critical to productivity (airline parts without proper documentation are not easily bought and sold), GE’s blockchain team has created a digitized paper trail in order to prevent engines with incomplete paperwork from sitting unused.

Blockchain: Microsoft Azure, Corda, Quorum, Hyperledger

Key Executive: David Havera, Blockchain Lead

Google

Mountain View, CA

In June, the search giant announced that it was integrating its BigQuery data analytics platform with Chainlink, allowing data from outside sources to be used in applications built directly on the blockchain. The partnership could help process futures contracts, settle speculative bets and make transactions more private. Earlier in 2019, Google launched a suite of tools on BigQuery that made blockchain data for bitcoin and seven other major cryptocurrencies fully searchable.

Blockchain: Chainlink, Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Zcash, Dogecoin, Dash

Key Executive: Allen Day, developer advocate, Google Cloud

Honeywell

Charlotte, NC (headquarters); Phoenix, AZ (Aerospace headquarters)

Honeywell has developed a blockchain-based marketplace for used aerospace parts, a $4 billion industry full of expensive, specialized equipment and rigorous safety requirements. Honeywell’s GoDirect Trade platform collects information about aircraft parts over their entire lifecycle and makes it available to potential buyers prior to the sale. Using a blockchain ledger allows Honeywell to securely aggregate this information from multiple, often competing, players. In its first year, GoDirect Trade processed more than $5 million in online transactions.

Blockchain: Hyperledger Fabric

Key Executive: Lisa Butters, Blockchain Product Applications Leader and General Manager of GoDirect Trade

HSBC

London, U.K.

HSBC has conducted one million foreign exchange trades totaling $1.2 trillion on its FX Everywhere platform built using a modified version of ethereum. Another HSBC endeavor Contour, is a blockchain that provides letters of credit to global exporters whose ships sometimes travel faster than the loan paperwork, resulting in long waits in port. Contour uses blockchain software Corda to connect buyers, sellers and trade finance banks to a single shared ledger. Of the 14 letters of credit so far issued on the platform, totaling $30 million, the most recent was issued in November 2019, when HSBC issued a letter to Romania-based Kingfisher for a shipment of sliding shower doors from China’s Zhong Shan Neptum. In a separate project, the company plans to move $20 billion of typetk securities to its Digital Vault, also built on Corda, cutting out brokers and connecting investors directly to private market assets.

Blockchain: Ethereum, Corda, Hyperledger Fabric

Key Executives: Joshua Kroeker, blockchain lead, growth and innovation; Mark Williamson, global head of FX Everywhere

IBM

Armonk, NY

Big Blue has fashioned a proprietary version of its Hyperledger Fabric the code called IBM Blockchain that is faster to set-up and easier for non-coders to operate. The IBM Food Trust is one of several blockchain consortia assembled by the company, and is designed to move complicated food supply chains to one shared, distributed ledger. In January 2020 olive oil giant CHO announced that it has been tracking its gourmet Terra DeLyssa oil on the Food Trust blockchain since the November 2019 harvest. The Tunisian company that creates a total of more than 24,000 bottles a day analyzes the oil in its own laboratories accredited by the International Olive Council, helping generate eight data points, including the orchard where the olives were grown, the mill where they were crushed, and the facilities where the oil was filtered, bottled and distributed, each captured on the blockchain and accessible via a QR code on bottle. Similarly, the Food Trust has now tracked 18 million transactions for 17,000 products.

Blockchain: Stellar, Hyperledger Fabric, Burrow and Sovrin

Key Executive: Bridget van Kralingen, SVP, global industry platforms and blockchain

ING Group

Amsterdam, Netherlands

ING’s most mature blockchain project is decentralized trade finance platform Komgo, which eliminates the delays and redundant paperwork involved with issue letters of credit used to finance trade. Normally when commodities traders needed to borrow money to buy crude oil being shipped around the world, for example, every counterparty, including traders, banks, inspectors and agents, would hand over paper documents, resulting in vessels frequently needing to wait for a loan to clear after docking. But in July 2019 ING conducted its first commodity trade on Komgo, powered by the Quorum blockchain. The $43 million letter of credit was processed and approved by ING Geneva for Mercuria Energy Trading SA in a matter of minutes.

Blockchain: Corda, Quorum, ethereum, Hyperledger Fabric, Hyperledger Indy

Key Executive: Mariana Gomez de la Villa is ING’s Global Program Director Distributed Ledger Technology

Intercontinental Exchange

Atlanta, GA

In 2019 the parent company of the New York Stock Exchange launched Bakkt, one of the first regulated bitcoin futures exchanges. Since launching in September, Bakkt has settled 117,000 bitcoin futures contracts, and plans to add support for other digital assets soon. Bakkt also makes fee income helping customers store their bitcoin and by selling market data about how its products are used. In the first half of 2020 Bakkt will launch a consumer-facing payments app allowing customers the ability to pay merchants like Starbucks with cryptocurrency.

Blockchain: Bitcoin

Key Executive: Mike Blandina, Bakkt chief executive officer

JPMorgan

New York, NY

America’s biggest bank is keeping mum on the progress of its JPM Coin, the digital currency it announced in February 2019 to help banks settle transactions more quickly. It does however, admit, that 100 institutions are now using its new “Interbank Information Network,” a blockchain that speeds up cross-border payments between banks by using a shared ledger to resolve delays that arise when, for example, one bank thinks a transfer might violate an international sanction. Previously, those discrepancies were resolved with phone calls and emails, which could take from two days to two weeks. Now they’re resolved in minutes, JPMorgan says.

Blockchain: Quorum, a private version of Ethereum

Key Executive: Christine Moy, head of the Blockchain Center of Excellence

LVMH

Paris, France

The luxury goods maker is using blockchain technology for traceability and proof of authenticity. To this end LVMH, ConsenSys and Microsoft announced in May 2019 the AURA blockchain platform, which uses ethereum and Microsoft’s Azure cloud service to track and trace luxury products. Among its brands, Louis Vuitton is already tracking millions of its products in an effort to reduce counterfeiting.

Blockchain: Ethereum

Key Executive: Eric Pradon, senior vice president of innovation

Mastercard

Purchase, NY

Rather than be disrupted, America’s second-largest credit card company has applied for 116 blockchain-related patents, and has several projects in process. It’s working with wholesale food buyer Topco to give consumers visibility into where their groceries came from. It’s testing a faster, more transparent cross-border payments network with banks. And it’s trying to convince central banks who are looking to issue digital currencies to use its rails to help move the new coins.

Blockchain: Its own platform, built from scratch

Key Executive: Ken Moore, EVP and head of Mastercard Labs

Microsoft

Redmond, WA

The software giant offers blockchain-as-a-service through Azure, its cloud computing arm. Last fall, it introduced a new product designed to make it easier for companies to mint their own digital assets (tokens) using a standard set of criteria. Like its other offerings, Microsoft’s new tokenization framework is designed to lower the barriers to entry to blockchain for major enterprises.

Blockchain: Ethereum, Corda, Hyperledger Fabric

Key Executive: Matthew Kerner, General Manager Industry and Blockchain

Nasdaq

New York, NY

As of one blockchain’s earliest enterprise adopters, Nasdaq has moved beyond pilots and proofs of concept and has released several blockchain products designed for capital markets, including an electronic voting tool for South Africa’s central securities depository. It’s now reaching into other industries like insurance and logistics after finding that the solutions it originally developed for the finance industry could be applied in other fields. It has also provided blockchain tech to NYIAX, an advertising exchange that lets publishers buy, sell, and trade contracts.

Blockchain: Assembly, Corda, Hyperledger Fabric, DAML and others

Key Executive: Johan Toll, Head of Digital Assets

National Settlement Depository

Moscow, Russia

After a few early tests issuing bonds on a blockchain, Russia’s central securities depository has helped to create the Distributed Digital Depository (D3Ledger) for storing and exchanging crypto assets even if they are issued on different blockchains. The NSD is also working with the Russian Agricultural bank to issue grain tokens that more transparently track the movement of grain stored in Russian silos —often used as collateral in swaps transactions. In April 2019 NSD parent company Moscow Exchange discovered shortages in six such grain silos resulting in $37 million in losses, something the depository thinks could be fixed if its technology was integrated at every layer of the supply chain.

Blockchain platforms: Hyperledger Fabric, Hyperledger Iroha, NXT, Ethereum, Waves, Bitcoin

Key Executives: Artem Duvanov, the head of innovation, Alexander Yakovlev, Head of blockchain lab

Nestle

Vevey, Switzerland

The world’s largest publicly traded food company launched three products thanks to IBM Food Trust in 2019, with another two slated by the spring. European customers can now scan QR Codes and track organic infant formula, baby food and instant mashed potatoes, from manufacturing to grocery shelf. Through OpenSC, Nestle is also piloting another project with dairy farmers in New Zealand and palm oil producers in South America.

Blockchain: Hyperledger Fabric

Key Executive: Benjamin Dubois, Corporate Operations – Supply Chain Transformation Manager

Optum

Eden Prairie, MN

In 2018, the health care company co-founded the Synaptic Health Alliance to explore blockchain in health care. The Alliance has built a blockchain that allows its members, including Aetna, Humana and Quest Diagnostics, to view, input, validate, update and audit health care provider data within the network. The technology is currently running in three pilot programs in Texas with the goal to test whether blockchain can simplify the process of updating health care provider information. The healthcare industry estimates that at least $2.1 billion is spent annually to maintain provider databases.

Blockchain: Ethereum

Key Executives: Mike Jacobs, senior vice-president of engineering

Overstock

Midvale, UT

Despite the inglorious departure of its crypto evangelist CEO Patrick Byrne, struggling Overstock is still developing its blockchain-based trading platform, tZERO, which would allow investors to trade digital versions of traditional assets like stocks, bonds, real estate and art. Investors can currently trade just two tokens on the platform — representing Overstock’s and tZERO’s own shares. To date Overstock has squandered some $200 million in 18 early-stage blockchain companies and has yet to derive meaningful revenue from any of them. An SEC investigation into various matters related to the company’s blockchain efforts is ongoing.

Blockchain platforms: Bitcoin, Ethereum, Hyperledger Fabric, Ravencoin, Florin and others

Key Executive: Jonathan Johnson, CEO, Overstock; President, Medici Ventures

Ripple

San Francisco, CA

Most banks use global intermediary Swift for international money transfers, a system born in the pre-internet age that enables banks to send secure messages to each other and makes transactions slow and inefficient. Ripple’s global payments network RippleNet offers a faster secure solution, and transaction volumes on the network are growing. Ripple isn’t hurting for cash—it sold $500 million of XRP in 2019, surpassed 300 enterprise customers in November and raised $200 million in December. PNC became the first U.S. bank to use RippleNet for all its cross-border payments last year.

Blockchain platforms: XRP Ledger

Key Executive: Brad Garlinghouse, CEO

Royal Dutch Shell

The Hague, Netherlands

Shell is currently working on nine blockchain projects that are in various stages of maturity. It’s a founding member of Vakt, a blockchain platform that went live in November 2018 that processes post-trade transactions of Brent crude. Vakt simplifies the global commodities trading industry that still largely relies on a mountain of paperwork by moving it to a shared digital ledger. Shell is also working on a pilot program using blockchain to authenticate and verify the origin and provenance of safety-critical process equipment with the hope of deploying it in the second quarter of 2020. The company is first focusing on the valves used in Shell’s plants and will then likely expand the functionality to pumps, while at the same time aiming to generalize the system to suit any type of equipment or device.

Blockchain: Ethereum

Key Executive: Sabine Brink, blockchain lead

Samsung

Seoul, South Korea

Samsung’s blockchain Nexledger helps parties to a contract prove their identity and execute agreements. The platform is already being used by a group of 18 Korean banks to in an application called BankSign, which quickly let retail customers of the banks prove who they are, even when visiting a bank where they’re not a customer. Since its launch in August 2018, the system has signed up 235,000 individual users. Samsung is also using the Nexledger to help patients prove their identity, speeding up the time it takes to process a health insurance claim.

Blockchain: Nexledger, Ethereum

Key Executive: Jeanie Hong, head of blockchain center

Santander

Madrid, Spain

Best known in crypto for its work using Ripple’s payment system to build a cross-border payments app, this Spanish banking giant broke new blockchain ground in September 2019 when it issued a $20 million bond on the public ethereum blockchain. The 1.98% bond was notable in that it showed how traditional securities could instantly trade in secondary markets if counterparties used a shared, public blockchain, instead of the three days in typically takes.

Blockchain platforms: Hyperledger Fabric, Ethereum

Key Executive: Coty de Monteverde director, Blockchain Center of Excellence

Signature Bank

New York, NY

JPM got more headlines but Signet was the first FDIC insured bank to actually launch a dollar-backed cryptocurrency, called signets, in January 2019. In the second half of 2019 some $10 billion in commercial payments in the form of signets transacted on the ethereum based platform. One long-time client, the New York Air Courier Service, which helps exporters clear customs from the bonded area and pay fees for delayed shipments, started using signets to make payments instantly, instead of the three days it often takes using the Automated Clearing House bank transfer.

Blockchain platform: Ethereum

Key Executive: Frank Santora, Senior Vice President & Director of Digital Asset Solutions

Silvergate Bank

La Jolla, CA

In January 2014 Silvergate became one of the first banks willing to open accounts for cryptocurrency exchanges. Since then, the bank has grown to serve 750 cryptocurrency exchanges, including Bitstamp, Coinbase, Kraken and Gemini and institutional cryptocurrency investors like Block Town, Polychain and Figure. In 2017 Silvergate launched its proprietary exchange network that lets investors move funds to cryptocurrency exchanges around the world, 24 hours a day, seven days a week. Dubbed the Silvergate Exchange Network, it is currently built using a traditional centralized database, meaning only Silvergate can use it, but a blockchain version leveraging shared databases is currently in the works.

Blockchain platforms: Bitcoin, Ethereum, XRP, 20 other cryptocurrencies supported by its customers

Key Executive: Alan Lane, CEO

Square

San Francisco, CA

In the third quarter of 2019, Square generated $148 million in revenue from fees charged to users who paid with bitcoin. Just launched: A Venmo-like service that lets social-network members instantly send and receive crypto payments. Click here to read more.

Blockchain: Bitcoin

Key Executive: Steve Lee, Square Crypto project manager

Tencent

Shenzen, China

The Chinese internet titan is helping build a trade finance blockchain application to simplify bulk metal purchases. For example, commodity e-commerce company Gangjuren is working with Tencent and several small and medium-sized steel traders to simplify the financing process. The blockchain technology works by collecting enormous amounts of traceable data about metals in a warehouse, enhancing the credit worthiness of warehouse receipts. The sale and purchase of metals can then be accelerated because all parties involved are using the trusted information from the blockchain. As of September 2019, transaction value had exceeded $100 million.

Blockchain: TrustSQL, Hyperledger Fabric

Key Executives: Carlos Hu, head of blockchain team

T-Mobile

Bellevue, WA

T-Mobile’s NEXT Identity Project, created using blockchain Hyperledger Sawtooth in collaboration with Microsoft, is meant to improve the way the telecommunications company manages who can gain access to employee and customer data. Currently hundreds of admins have access to company and customer data, but the new blockchain system would tighten controls and grant access only to those who fit within a very narrow framework defined by the company’s auditors. No humans are ever involved in the process. Since January 2019, NEXT has run alongside existing production systems and completed roughly 60,000 transactions that resulted in new information being added to the blockchain in the first six months. T-Mobile is also working to leverage blockchain technology to execute and implement wholesale roaming agreements.

Blockchain: Hyperledger Sawtooth, Hyperledger Fabric, Ethereum

Key Executive: Chuck Knostman, vice president, emerging technology strategy

UBS

Zurich, Switzerland

UBS’ utility settlement coin became a reality in June, when the Swiss bank led a consortium of 14 financial institutions, including Barclays, Nasdaq and Santander, in a $63.2 million investment to launch a new company, Fnality International. The spinoff will control development of the USC, a trade settlement vehicle that reduces the time and cost it takes to process a transaction.

Blockchain platforms: Hyperledger Fabric, Ethereum, Quorum, Corda

Key Executive: Sam Chadwick, head of blockchain

United Nations

New York, NY

The 75-year-old organization connecting 193 countries has numerous blockchain initiatives. To combat warlords who steal aid using pilfered ID cards, the U.N. has over the past two years disbursed funds to 106,000 Syrian refugees in Jordan, using blockchain-verified iris scans instead of ID cards.

Blockchain: Bitcoin, Ethereum

Key Executives: Christina Lomazzo, UNICEF blockchain lead, Houman Haddad, WFP head of emerging technologies

Vanguard

Valley Forge, PA

Since February 2019, the fund giant has been using a blockchain to set security prices on some $1.5 trillion of its $6 trillion in holdings. Vanguard relies on tech developed by Symbiont, a New York based startup.

Blockchain: Symbiont Assembly

Key Executive: Warren Pennington, a principal in Vanguard’s investment management group

VMware

Palo Alto, CA

The $60-billion software provider partnered with the Australian Securities Exchange last summer to work on developing an application to replace the exchange’s 25-year-old system for making post-trade settlement efficient. The technology behind Facebook’s libra is also derived from software called HotStuff developed by VMware.

Blockchain platforms: Project Concord, its proprietary blockchain that supports multiple frameworks including Ethereum and DAML

Key Executive: Brendon Howe, vice president & general manager, blockchain

Walmart

Bentonville, AR

The retail conglomerate’s Food Traceability Initiative tracks its fresh vegetables, meat and poultry along its supply chain. The initiative helps Walmart pinpoint where a shipment may have been contaminated, allowing it to target recalls more narrowly and accurately while reducing food waste. Walmart also joined a pilot program last summer supervised by the U.S. Food and Drug Administration to trace the distribution of prescription medicines and vaccines on a blockchain. IBM, KPMG and Merck collaborated with Walmart in the pilot, which addressed the regulatory requirements of the U.S. Drug Supply Chain Security Act.

Blockchain platforms: Hyperledger Fabric

Key Executive: Tejas Bhatt, senior director, Food Safety Innovations

_____

Source: Forbes

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer.

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Find out what led CNJ to hire a Blockchain course

National Justice Council hires company to teach Blockchain course
Photo: Shutterstock

The National Council of Justice (CNJ) explained what motivated the hiring of Lacuna Software for a training course on Blockchain Hyperledger Fabric. The agency revealed to the Bitcoin Portal that it seeks to seek knowledge for the implementation of this technology to its system.

The CNJ, through its communication advisory, declared to the report that the Information Technology Department (DTI) does not have any experience to design, develop and deploy a blockchain network.

With an eye on Blockchain

For the agency, it is necessary to implement this technology because it “stores any type of transaction information more intelligently and securely”. With Blockchain, there will be, according to the CNJ, “greater transparency for administrative and judicial processes” and hence the need to prepare DTI staff.

“Considering the assignment of this unit in the search for new technologies applicable to CNJ projects and the advantages mentioned in the implementation of the technology in question, there is a need for the training of all DTI units to start the intended technological prospecting”.

Lacuna Software, which works with digital certification, was contracted for R $ 29 thousand without any bidding. The CNJ, however, clarified that in cases like this, the bidding law (Law 8.666 / 93) does not require the need for the bidding process.

“The intended hiring fulfills the requirements listed in the device that deals with the unenforceability, since the teachers have, according to the analysis of the documentation sent to this Council, a notable academic and professional specialization”.

The body, therefore, further stated that Precedent 39 of the Federal Court of Auditors expressly states that:

“The unenforceability of bidding for the contracting of technical services with individuals or legal entities of notorious specialization is only applicable when dealing with a service of a singular nature, capable of requiring, in the selection of the executor of trust, a degree of subjectivity insusceptible to be measured by the objective qualification criteria inherent to the bidding process, pursuant to art. 25, item II, of Law No. 8.666 / 1993. ”

Company report

The company did not respond to the e-mail sent by the report to comment on its hiring. Instead, however, he preferred to comment on the story published on the Bitcoin Portal that dealt with the fact.

According to the comment of the managing partner Alexandre Swioklo, Lacuna Software was approached by the CNJ after they successfully implemented Notarchain, a system “integrated with blockchain formed by notary offices across the country that use the same technology as the CNJ intended to study, the IBM Hyperledger Fabric ”.

The advisory board of the National Council of Justice also mentioned that “professors Alexandre Swioklo and Fernando Teixeira have a notable specialization in the subject of affection”.

Blockchain course

The CNJ told the report that the training instructor must demonstrate knowledge, through curriculum presentation, in asymmetric cryptography with elliptical curves, Public Key Infrastructure (PKI), Blockchain, Hyperleader Project, Hyperleader Fabric, Docker, NodeJS and Go Languages , CouchDB database.

The course will be at least 40 hours long and half of that workload will be directed to practical learning. The syllabus will be divided into six parts.

The first will deal with the review of Blockchain concepts, including Distributed Ledger, Smart Contracts, Consensus and Uses for a blockchain; in the next phase, DTI staff will take classes on Hyperledger Fabric. The classes will cover Project Hyperledger and its components, Shared Ledger, Smart Contracts, Privacy, Consensus, Network Identity, Membership and Peers.

From the middle of the course, the digital certification company should teach practical laboratory classes. In the third part of the course menu, Lacuna Software teachers will teach you how to create a blockchain with Hyperledger Fabric; create a development environment; create and start blockchain nodes; install application; Create users; blockchain queries and analyze a smart contract, in addition to submitting transactions to the network.

Practical classes

The course also promises to present CNJ case studies. In this phase, students should learn to define actors, analyze the life cycle of transactions, define the physical and logical representation of transactions and identify relationships of trust.

In the last two stages, however, the MVP implementation of the CNJ case study will be taught. During this period, classes on installing the prerequisites, reviewing the functioning of Docker and CouchDB will be included. Teachers will also discuss the implementation of contracts, creation of the network and installation of the application, in addition to tests. The menu also states that Advanced topics such as Channels, Private Data, Consensus and Membership Service Providers will be discussed.

According to the CNJ, the idealized format for achieving the intended objectives is “face-to-face training, in the agency’s environment, using its own infrastructure resources”.


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