We.Trade Finance Platform Built On Hyperledger Goes Commercial

NewsJuly 4, 2018 by Kelly Cromley

Trade finance platform, built by a consortium of nine banks, has successfully been used to perform seven live transactions by ten companies using four partner banks. The platform, named We.Trade, is built on IBM’s Hyperledger Fabric, which supports distributed ledger solutions on permissioned networks.

The transparency of the open account trade transactions is improved by the smart contracts deployed in We.Trade platform. The banks who are behind this platform are Deutsche, KBC, HSBC, Nordea, Natixis, Santander, Rabo, Societe Generale, and UniCredit.

The banks had plans to test We.Trade in May and go for a commercial release in summer. Societe Generale had revealed that the platform was able to scale quickly as it targeted small and medium sized businesses (SMEs) operating within Europe.

Commenting on the transactions conducted through We.Trade, Parm Sangha, IBM’s blockchain lead in Europe, said

“As We.Trade has moved from pilot applications to conducting live transactions across borders, it has demonstrated the power of blockchain technology in an enterprise setting.”

We.Trade board member and head of customer propositions at HSBC, Omer Ahsan, said

“Last week three of our clients executed transactions using we.trade: Fluid Pumps used the platform to complete an open account transaction with a customer in Finland, GPS Food Group completed an intercompany transaction that included the use of a Bank Payment Undertaking and also executed two open account transactions with Paragon Quality Foods.”

Roberto Mancone, chief operations officer, We.Trade, opined that the transactions highlight the first commercially feasible open account trades utilizing blockchain technology.

Mancone said “These transactions prove that we.trade is a robust and commercially viable proposition. The next step will be getting buy-in from additional banks and their customers in Europe and further afield.”

Presently, We.Trade is offered across eleven European countries, namely Denmark, Belgium, Finland, Germany, France, the Netherlands, Germany, Spain, Norway, the UK and Sweden. Mancone revealed that the ultimate aim is to expand into other European markets and worldwide as more banking partners join the network.

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Blockchain Platform Powered By IBM Completes Its First Live Trades

Blockchain Platform Powered By IBM Completes its First Live Trades

The blockchain technology is once again getting a move one after the certain fallout in the price of cryptocurrencies such as Bitcoins, Ethereum etc. In addition to this positive news, We.trade which is a European blockchain trading platform yesterday (July 3, 2018) confirmed that the company successfully completed its first live operations that involved five major banks and twenty blockchain companies.

HSBC which were among the other institutions involved claimed that in the platform test, three of its clients took part.

This blockchain technology-based platform makes use of IBM’s blockchain platform which is powered by Hyperledger Fabric. By making use of the Hyperledger Fabric, the company claims to offer a cost-effective and more efficient way for businesses as well as banks to trade worldwide.

IBM’s blockchain lead in Europe, Parm Sangha mentioned in a press release on 3rd July, “As We.trade has moved from pilot applications to conducting live transactions across borders, it has demonstrated the power of blockchain technology in an enterprise setting.”

We.trade lists its founding members as HSBC, Natixis, KBC, Deutsche Bank, Nordea, Santander, Rabobank, UniCredit and Société Générale. The company also mentioned that there are various blockchain solutions that are under consideration by the banking sector. The new collaboration of companies and banks simply highlights the bank’s ability to progress and innovate, according to Dutch institution Rabobank.

Bart Leurs, Rabobank chief digital transformation officer in the official press release commented that “These trade(s) represents a great example of traditional banks innovating to meet their clients’ needs by working with We.trade”.

We.trade expansion plans looks to have more dependency on future lenders that might also join the league in future. One of the major reasons to stay with the expansion idea is because of the platform’s availability in eleven European countries.

The recent move of adoption of blockchain technology by banking sector clearly shows an increasingly crowded space in Europe and other countries. Investors also give priority to those blockchain platforms that are sponsored by the bank. In April this year, Spain’s Santander became the first to make use of Ripple cryptocurrency in order to offer blockchain settlements for retail customers.

In spite of that other plans were seen to have fallen in the road as Rabobank a Dutch multinational banking and financial services company plans to launch its own cryptocurrency wallet project named as “Rabobit”. However, the company has remained silent on the project since March.

Earlier, it was found that We.trade will begin testing the platform in May 2018 after which there will be an expected commercial release in summer. However, this plan was delayed a bit but now the testing of the platform has finally been done.

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Open Source at 20: The Ubiquity of Shared Code

“Why is open source important? That’s like asking why is gravity important,” stated Brian Behlendorf, a leading figure in the open-source software movement, and executive director for the blockchain consortium Hyperledger.

While this year marks the 20th anniversary of open source, it is hard to imagine a time before open-source software. Today, it’s difficult to find a solution or piece of software that was created without some open-source components….

Behlendorf recalls first being attracted to the open-source space because he didn’t really trust his own coding abilities, and the idea that there were other developers out there willing to read his code and help him fix it was a “godsend.” “For many people who became programmers after the ‘90s, working publicly, pulling down open-source code, sharing improvements back if you made any or even taking your work and releasing it pubilicy became the default. It was what was expected,” he said.

However, being able to share and collaborate openly on software wasn’t always possible. OSI’s vice president VM Brasseur describes the early days as the “wild west” where programmers were building tools for programmers, driven by the philosophical belief that “sharing is good and right.”

Read more at SDTimes

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Big Blockchain: The 50 Largest Public Companies Exploring Blockchain

There’s more than one way to gain exposure to blockchain innovation. Beyond buying over-the-counter products or investing directly in blockchain startups some of the largest public companies in the world are already dabbling in the tech. In fact, a closer look at this year’s Forbes Global 2000 list of the largest public companies in the world reveals that not only are all ten of the largest public companies in the world exploring blockchain, but at least 50 of the biggest names on the list have all made their own mark on technology first inspired by bitcoin.

(Stuart Ramson/AP Images for American Express)

(Stuart Ramson/AP Images for American Express)

50) American Express Company [Ticker symbol: AXP]

Location: United States

Sales: $37.65 billion

Blockchain Play: Ranked number 119 on the Global 2000, this credit giant is testing a way to use blockchain to give vendors more power over membership rewards.

(Photo by Dominik Bindl/Getty Images)

(Photo by Dominik Bindl/Getty Images)

49) Banco Bilbao Vizcaya Argentaria, S.A. [550190]

Location: Spain

Sales: $29.24 billion

Blockchain Play: The bank ranked number 116 on the Global 2000, has announced it closed a €75 million corporate loan using both ethereum and Hyperledger Fabric.

(AP Photo/Koji Sasahara)

(AP Photo/Koji Sasahara)

48) Mizuho Financial Group [8411]

Location: Japan

Sales: $29.73 billion

Blockchain Play: An early leader in a wide range of blockchain projects, the 114th largest company on the Global 2000 took a hit this year when its head of blockchain left, according to a CoinDesk report .

Photographer: Carla Gottgens/Bloomberg

Photographer: Carla Gottgens/Bloomberg

47) BHP Billiton Limited [614469]

Location: Australia

Sales: $41.23 billion

Blockchain Play: Often called the world’s largest mining company, the 108th largest firm on this year’s Global 2000 list is exploring how blockchain can improve its supply chain.

(AP Photo/Noah Berger)

(AP Photo/Noah Berger)

46) Oracle Corporation [ORCL]

Location: United States

Sales: $39.47 billion

Blockchain Play: Since joining Hyperledger Fabric in 2017, the 107th largest company on this year’s Global 2000 list has been preparing to launch its own enterprise blockchain platform.

AP Photo/Mark Schiefelbein

AP Photo/Mark Schiefelbein

45) Tencent Holdings Ltd [BMMV2K]

Location: China

Sales: $35.27 billion

Blockchain Play: Earlier this year, the company ranked 105 on the Global 2000, announced work with the Shenzhen State Taxation Bureau to explore blockchain and taxes.

Photo credit should read ANTONY DICKSON/AFP/Getty Images

Photo credit should read ANTONY DICKSON/AFP/Getty Images

44) AIA Group [B4TX8S]

Location: Hong Kong

Sales: $31.92 billion

Blockchain Play: Ranked 93 on the Global 2000, the insurance giant last year revealed a bancainsurance platform using Hyperledger Fabric, and now runs its own blockchain accelerator.

AP Photo/Ng Han Guan

AP Photo/Ng Han Guan

43) Alibaba Group Holding Ltd. [BABA]

Location: China

Sales: $37.87 billion

Blockchain Play: Ranked number 81 on the Global 2000, this ecommerce giant has piloted a food supply chain and plans to invest part of a $14 billion Series A in the tech.

Photographer: Michael Nagle/Bloomberg

Photographer: Michael Nagle/Bloomberg

42) MetLife, Inc. [MET]

Location: United States

Sales: $64.08 billion

Blockchain Play: The insurance giant ranked number 78 on the Global 2000 has partnered with IBM and insurance tech company Majesco, to build a blockchain platform for insurance.

Photo by Alexander Koerner/Getty Images

Photo by Alexander Koerner/Getty Images

41) Facebook, Inc. [FB]

Location: United States

Sales: $44.59 billion

Blockchain Play: The CEO of the 77th largest company on the Forbes Global 2000 list, Mark Zuckerberg, has explained his company plans to explore blockchain in a number of use cases.

Photographer: Victor J. Blue/Bloomberg

Photographer: Victor J. Blue/Bloomberg

40) Prudential Financial [PRU]

Location: United States

Sales: $61.13 billion

Blockchain Play: Largely working behind the scenes, the financial giant ranked number 73 on the Global 2000 and is a backer of influential Digital Currency Group.

Photographer: Michael Nagle/Bloomberg

Photographer: Michael Nagle/Bloomberg

39) Walt Disney Company [DIS]

Location: United States

Sales: $56.83 billion

Blockchain Play: After the entertainment giant shelved an internal blockchain solution, Dragonchain, employees spun-off their own startup to commercialize the platform.

Photographer: Michael Nagle/Bloomberg

Photographer: Michael Nagle/Bloomberg

38) IBM [IBM]

Location: United States

Sales: $80.06 billion

Blockchain Play: The computer giant ranked number 67 on the Global 2000 has open-sourced the widely used Hyperledger Fabric and is a driving force behind multiple blockchain initiatives.

Photographer: Luke Sharrett/Bloomberg

Photographer: Luke Sharrett/Bloomberg

37) Ford Motor Company [F]

Location: United States

Sales: $159.59 billion

Blockchain Play: The auto giant that ranked number 67 on the Global 2000 co-launched a blockchain research group for the auto industry, and was granted a patent for controlling traffic flow.

Photographer: Suzanne Plunkett/Bloomberg News

Photographer: Suzanne Plunkett/Bloomberg News

36) Prudential [70995]

Location: United Kingdom

Sales: $111.48 billion

Blockchain Play: The company ranked number 66 on the Global 2000 has partnered with Singapore telecom firm StarHub to launch a blockchain-based trade platform for small businesses.

Photographer: Alessia Pierdomenico/Bloomberg

Photographer: Alessia Pierdomenico/Bloomberg

35) Intesa Sanpaolo S.p.A. [407683]

Location: Italy

Sales: $42.52 billion

Blockchain Play: Ranked number 61 on the Global 2000, this Italian bank has been a leader in using public blockchains, including bitcoin to timestamp records and ethereum for derivatives.

AP Photo/Richard Drew, File

AP Photo/Richard Drew, File

34) Goldman Sachs Group Inc. [GS]

Location: United States

Sales: $43.69 billion

Blockchain Play: Ranked number 60 of the Global 2000, the bank has plans to open its own bitcoin trading desk.

Photo by Omar Marques/SOPA Images/LightRocket via Getty Images

Photo by Omar Marques/SOPA Images/LightRocket via Getty Images

33) ING Group [BZ5739]

Location: Netherlands

Sales: $56.58 billion

Blockchain Play: Ranked number 56 on the Global 2000, ING Group has open-sourced software solutions designed to help protect a user’s identity.

Photographer: Bartek Sadowski/Bloomberg

Photographer: Bartek Sadowski/Bloomberg

32) Amazon.com Inc. [AMZN]

Location: United States

Sales: $193.19 billion

Blockchain Play: This ecommerce giant ranked number 53 on the Global 2000, offers cloud integrations for a number of blockchains and recently partnered with ethereum startup ConsenSys.

Photo by Alexander Pohl/NurPhoto via Getty Images

Photo by Alexander Pohl/NurPhoto via Getty Images

31) Siemens AG [572797]

Location: Germany

Sales: $94.47 billion

Blockchain Play: This industrial giant ranked number 51 on the Global 2000 and has invested in LO3, a blockchain energy startup working to help neighbors buy and sell solar power directly from each other.

Photo by Logan Bowles/PGA Tour

Photo by Logan Bowles/PGA Tour

30) Morgan Stanley [MS]

Location: United States

Sales: $45.59 billion

Blockchain Play: In spite of clearing bitcoin futures contracts for its customers, the number 50 company on the Global 2000 also issued a report on the negative impacts of bitcoin mining on the environment.

Photo by Alexander Koerner/Getty Images

Photo by Alexander Koerner/Getty Images

29) Intel Corporation [INTC]

Location: United States

Sales: $64.03 billion

Blockchain Play: Since contributing blockchain platform Sawtooth to the Hyperledger consortium, the computer giant ranked number 49 on the Global 2000, has focused on how hardware can help blockchain.

Photographer: Stefan Wermuth/Bloomberg

Photographer: Stefan Wermuth/Bloomberg

28) Nestle [712387]

Location: Switzerland

Sales: 91.23 billion

Blockchain Play: The Swiss food-giant ranked number 48 on this year’s Global 2000 and is now part of a consortium working with IBM to remove unnecessary middlemen from the way they ship goods.

Photographer: Andrey Rudakov/Bloomberg

Photographer: Andrey Rudakov/Bloomberg

27) Sberbank Russia [476798]

Location: Russia

Sales: $46.33 billion

Blockchain Play: The 47th largest public company according to the Global 2000, launched a blockchain lab in 2017 and is working with Russia’s securities depository to explore blockchain corporate bonds.

Photographer: Michael Nagle/Bloomberg

Photographer: Michael Nagle/Bloomberg

26) Pfizer [PFE]

Location: United States

Sales: $52.67 billion

Blockchain Play: Ranked number 44 on the Global 2000, this pharmaceutical giant is in the early stages of a project with Chronicled, a blockchain startup for supply chains.

Photographer: Cole Burston/Bloomberg

Photographer: Cole Burston/Bloomberg

25) Royal Bank of Canada [RY]

Location: Canada

Sales: $40.49

Blockchain Play: In addition to exploring a number of blockchain solutions, the bank ranked number 42 on the Forbes Global 2000, earlier this year registered a patent for automating credit scores.

Photographer: Vincent Mundy/Bloomberg

Photographer: Vincent Mundy/Bloomberg

24) Anheuser-Busch InBev [ABI-BE]

Location: Belgium

Sales: $56.36 billion

Blockchain Play: Number 42 on the Global 2000, the maker of Budweiser has announced work on a blockchain platform aimed at simplifying freight logistics.

Photographer: Akio Kon/Bloomberg

Photographer: Akio Kon/Bloomberg

23) Mitsubishi UFJ Financial Group [8306]

Location: Japan

Sales: $51.76 billion

Blockchain Play: Ranked number 37 on the Global 2000, MUFJ joined the Ripple payments network in 2017, and plans to co-launch its own blockchain solution next year.

Photographer: Charles Mostoller/Bloomberg

Photographer: Charles Mostoller/Bloomberg

22) Comcast Corporation [CMCSA]

Location: United States

Sales: $86.85 billion

Blockchain Play: The telecommunications giant that ranked number 34 of the Global 2000, backs Boldstart Ventures, which invests in enterprise blockchain startups.

Photographer: Christophe Morin/Bloomberg

Photographer: Christophe Morin/Bloomberg

21) AXA Group

Location: France

Sales: $149.9 billion

Blockchain Play: Ranked number 33 on the Global 2000, this insurance giant launched its ‘Fizzy’ smart contract platform using ethereum to automatically execute flight insurance payments.

Photographer: Angel Navarrete/Bloomberg

Photographer: Angel Navarrete/Bloomberg

20) Banco Santander [570594]

Location: Spain

Sales: $56.07 billion

Blockchain Play: The 31st largest public company on this year’s Global 2000 list has invested in Ripple and Digital Asset Holdings, and launched a payments app using Ripple technology.

Photo by Roberto Machado Noa/LightRocket via Getty Images

Photo by Roberto Machado Noa/LightRocket via Getty Images

19) Daimler AG [552902]

Location: Germany

Sales: $193.22 billion

Blockchain Play: Since last year issuing at €100 million corporate bond using ethereum, the maker of Mercedez-Benz, ranked number 29 on the Global 2000 list, has begun testing its own cryptocurrency.

AP Photo/Richard Drew

AP Photo/Richard Drew

18) Walmart [WMT]

Location: United States

Sales: $500.34 billion

Blockchain Play: Since an early prototype to use Hyperledger Fabric on the pork supply chain, the global grocer that ranked 24 on the Global 2000, has expanded its blockchain work to other supply chains.

AP Photo/Mark Lennihan

AP Photo/Mark Lennihan

17) Alphabet Inc. [GOOGL]

Location: United States

Sales: $117.88 billion

Blockchain Play: In addition to a number of blockchain investments, the search giant that ranked number 23 on this year’s Global 2000 list is reportedly working on its own blockchain projects.

Photographer: Martin Leissl/Bloomberg

Photographer: Martin Leissl/Bloomberg

16) Allianz SE [523148]

Location: Germany

Sales: $122.55 billion

Blockchain Play: In addition to building a prototype for “self-insurance,” the insurance giant that ranked number 22 on the Global 2000 is reportedly exploring a token for moving value.

Photo by Mikhail TereshchenkoTASS via Getty Images

Photo by Mikhail TereshchenkoTASS via Getty Images

15) Microsoft Corporation [MSFT]

Location: United States

Sales: $103.31 billion

Blockchain Play: Ranked number 20 on the Global 2000, the software giant was among the first to monetize blockchain services, and now works with a number of blockchains via it’s Azure platform.

Photographer: Christophe Morin/Bloomberg

Photographer: Christophe Morin/Bloomberg

14) BNP Paribas SA [730968]

Location: France

Sales: $117.77 billion

Blockchain Play: Ranked number 19 on the Global 2000, this French bank is working with “Big Four” accounting firm, EY, to use blockchain for its internal treasury operations.

AP Photo/Ahn Young-joon, File

AP Photo/Ahn Young-joon, File

13) Samsung Electronics Co. [677172]

Location: South Korea

Sales: $224.64 billion

Blockchain Play: Ranked number 14 on the Global 2000, this electronics giant last year announced its Nexledger platform for tracking global supply chains.

Photo by Smith Collection/Gado/Getty Images

Photo by Smith Collection/Gado/Getty Images

12) Toyota Motor Corp. [7203]

Location: Japan

Sales: $265.17 billion

Blockchain Play: A founding member of the Blockchain Mobility Consortium, this manufacturing giant is exploring how blockchain payments could enable self-driving cars.

Photographer: Andrey Rudakov/Bloomberg

Photographer: Andrey Rudakov/Bloomberg

11) Royal Dutch Shell Plc. [B03MM4]

Location: Netherlands

Sales: $321.77 billion

Blockchain Play: An investor in blockchain development firm, Applied Blockchain, this oil giant is also working with BP to create an energy commodities platform.

AP Photo/Eugene Hoshiko

AP Photo/Eugene Hoshiko

10) Ping An Insurance Company [B01FLR]

Location: China

Sales: $141.62 billion

Blockchain Play: In addition to being a member of distributed ledger group, R3, this insurance giant works with other insurance firms to explore blockchain.

AP Photo/Mark Schiefelbein

AP Photo/Mark Schiefelbein

9) Bank of China Ltd. [B15456]

Location: China

Sales: $118.15 billion

Blockchain Play: The Chinese bank has partnered with tech giant Tencent to test financial applications of blockchain technology, according to a CoinDesk report, and has filed a number of related patents.

Photo by Emmanuele Contini/NurPhoto via Getty Images

Photo by Emmanuele Contini/NurPhoto via Getty Images

8) Apple Inc. [AAPL]

Location: United States

Sales: $247.53 billion

Blockchain Play: The computer giant has filed a patent for using blockchain technology to timestamp data.

Photographer: Patrick T. Fallon/Bloomberg

Photographer: Patrick T. Fallon/Bloomberg

7) Wells Fargo & Company [WFC]

Location: United States

Sales: $102.06 billion

Blockchain Play: As part of being an early member of distributed ledger consortium R3, this bank is helping build a simpler way to track securitized home mortgages.

Photo credit should read HECTOR RETAMAL/AFP/Getty Images

Photo credit should read HECTOR RETAMAL/AFP/Getty Images

6) Bank of America [BAC]

Location: United States

Sales: $102.98 billion

Blockchain Play: One of the most prolific patenters of blockchain technology, this banking giant is working to automate the process of creating letters of credit using the ethereum blockchain.

Photo by S3studio/Getty Images

Photo by S3studio/Getty Images

5) Agricultural Bank of China [B60LZR]

Location: China

Sales: $129.34 billion

Blockchain Play: The state-owned bank is working on a decentralized network to offer unsecured agricultural loans to e-commerce merchants.

Photo by Smith Collection/Gado/Getty Images

Photo by Smith Collection/Gado/Getty Images

4) Berkshire Hathaway Inc. [BRK.B]

Location: United States

Sales: $235.16 billion

Blockchain Play: Berkshire subsidiary BNSF railroad and fine jewelry subsidiary Richline Group are exploring blockchain to streamline their supply chains.

Photo by Erik McGregor/Pacific Press/LightRocket via Getty Images

Photo by Erik McGregor/Pacific Press/LightRocket via Getty Images

3) JPMorgan Chase & Co. [JPM]

Location: United States

Sales: $118.18 billion

Blockchain Play: Since contributing blockchain platform Quorum to the open-source community a number of developers have expressed interest, including information giant IHS Markit.

Photo by S3studio/Getty Images

Photo by S3studio/Getty Images

2) China Construction Bank Corporation [B0LMTQ]

Location: China

Sales: 143.2 billion

Blockchain Play: CCB is using the IBM Blockchain platform to streamline the way banks and insurance companies jointly sell some of their financial products.

Photo by Unkel/ullstein bild via Getty Images

Photo by Unkel/ullstein bild via Getty Images

1) Industrial and Commercial Bank of China [B1G1QD]

Location: China

Sales: $165 billion

Blockchain Play: A patent filed by ICBC describes a way to use blockchain technology to verify digital certificates instead of a trusted central authority.

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IBM Blockchain Platform Starter Plan Launches For Businesses to Use

The new release of the Blockchain Platform Starter Plan by IBM has been announced this week. It is an addition to its product suite, offering special features for users in the early stages of business development.

This new measure recently launched demonstrates the growing commitment of the giant technology company to blockchain technology platforms, in what is considered to be an increasingly competitive space.

Starter Plan To Expand Blockchain Adoption

The IBM Starter Plan was launched as a beta in March. It offers the same experience as the Blockchain Platform Enterprise Plan, which is IBM’s main blockchain service offering. The corporation hopes to make it easier and cheaper to set up blockchain applications, which will attract companies that may be curious about the technology but are not yet fully committed to testing the technology.

This plan was launched at the same time as the company published several new service lines on blockchain. The Starter Plan uses the open source Hyperledger Fabric structure and adds new features to the Enterprise Plan, such as one-click network configuration and code samples accessible from GitHub.

All IBM blockchain projects use Hyperledger Fabric. It originated as an open source project developed in 2015 by the Linux Foundation. Last year, IBM released a production version of the project, called Hyperledger Fabric 1.0. It was created from a base code developed by IBM, Digital Asset Holdings and others. And later, Oracle ended up joining the Fabric project.

Competition For Chains

IBM has been a captain of industry in blockchain space for several years now. This week, the Wall Street Journal reported that a dozen companies, including Walmart, were creating a blockchain-based system to track the food supply chain using IBM technology.

The company had previously announced that it was working on food supply chains and digital identity with a group of Canadian banks. In March, it was also reported that 63 of its clients were using blockchain in 400 different projects.

For the time being, IBM is also competing against other major companies. One case about this is the German software giant SAP. They recently made several announcements related to blockchain for businesses, including a new enterprise cloud service and a new consortium with several companies. Oracle also took a similar step last May, when it began including Decentralized Applications (dApps).

Microsoft is also selling a blockchain service on its Azure Cloud platform. In addition, it is reported that it already has several financial companies that are testing its technology. Another case is the e-commerce giant Amazon, which also launched a similar service in April. And another case in point is the financial startup of Corda, which is also focusing on the business sector with blockchain technology.

Startups Not Far Behind

Beyond the efforts of the corporate blockchain, there are countless startups working in all existing sectors. While most of these companies are running on hope and moonbeams, it’s a little too early to describe them as completely out of the game. Companies like the Ethereum Enterprise Alliance, for example, have hundreds of members working on multiple implementations.

There are a lot of new decentralized networks that have recently been officially released or are about to be released; such as the recent cases in last months of EOS, Tezos, TRON, QTUM, and bitcoin sidechains like RSK.

The basic question now is whether startups will be able to offer adoption to larger companies or communities, or whether IBM and other competing giants will be at the forefront of the race with their new offerings.

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Hyperledger welcomes ‘major wave’ of Chinese blockchain collaborations

Open-source blockchain initiative Hyperledger announced a raft of new members this week, particularly in China, with companies including JD.com and Lenovo joining the collaboration to advance blockchain technologies.

Founded by the Linux Foundation in 2015, Hyperledger’s aim is to provide organisations the framework for “robust, industry-specific applications platforms and hardware systems”, geared at supporting business transactions by creating enterprise-grade distributed ledger frameworks and code bases.

The 11 new members spanned companies from the US, Europe, Asia, with a “major wave” of new collaborators from China, read the announcement, including Beike Finance, BGI Shenzhen Co., Bit Game Foundation, Circulor, JD.com, Kyra Solutions, Lenovo and NuCypher.

Comprising 10 business blockchain and distributed ledger technologies (DLT) as a “multi-project, multi-stakeholder effort”, Hyperledger is on a winning streak right now, and according to the group, this is much to do with the market in China, where a “blockchain explosion” has driven a new pace of adoption and innovation in the market.

‘Big family’

According to Hyperledger, 20% of its membering companies and 10% of its contributors are Chinese, with executive director, Brian Behlendorf, commenting; “it’s been exciting to see the rush of innovation in China and other Asian countries, where we have a large and growing base.”

According to head of blockchain technology, Dr. Pei Jian at JD.com, where blockchain technology has been used in products for anti-counterfeiting traceability, the e-commerce group is pleased to join Hyperledger’s “big family”.

“JD.com will make full use of its own advances in big data, cloud computing and well-established bonds with enormous suppliers worldwide to build a blockchain-based ecosystem and accomplish new commercial values. Currently, blockchain has been used in the products of anti-counterfeiting traceability in JD.com for promoting and securing high-quality products,” said Pei Jian.

Meanwhile, Lenovo’s chief technology officer and senior vice president, said; “Becoming a member of the Hyperledger community helps us explore all the possibilities blockchain opens up across industries.

“We have identified this emerging technology as a key element in our investment strategy for cloud-enabled technologies. Along with other members, Lenovo will help drive the development of Hyperledger as well as blockchain technologies and to build a global blockchain ecosystem so that this technology can benefit customers and the industry.”

Far from localised, however, the member base now spans some 30 countries and a hugely diverse range of applications, with companies looking to blockchain to transform healthcare, financial services, supply chain management, digital identity management and other online and cloud-based businesses and services.

Hyperledger training

In the same week, the Linux Foundation launched enrollment for a free blockchain-based training source, offered through the edX training platform, to provide individuals a way to learn about the impact of the emerging tech and “a means to demonstrate that knowledge”.

The course, LFS170x – Blockchain: Understanding Its Uses and Implications, offers an introduction to to blockchain DLT and how it’s impacting how businesses operate.

“In the span of only a year or two, blockchain has gone from something seen only as related to cryptocurrencies to a necessity for businesses across a wide variety of industries,” said Linux Foundation general manager, training & certification, Clyde Seepersad.

“Providing a free introductory course designed not only for technical staff but business professionals will help improve understanding of this important technology, while offering a certificate program through edX will enable professionals from all over the world to clearly demonstrate their expertise.”

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IBM Starter Plan Launched After Three Month Testing Period

IBM Starter Plan LaunchedAfter a three month testing period, featuring more than 2,000 developers, and thousands of transaction blocks, the IBM Starter Plan is ready for general release.

The new Starter Plan is accessible in 10 different languages, including English, Spanish, German, Japanese and Chinese.

Single click deployment

IBM describes its blockchain platform as being able to help “companies quickly get started as they transform the way business is done across industries,” by providing “a secure test environment, suite of education tools and modules and one-click network provisioning.”

Developers will be able to take advantage of an end-to-end environment built on the open-source Hyperledger Fabric framework.

Jerry Cuomo, vice-president of blockchain technology at IBM commented – “Starter is to provide the developers and test environment with single click deployment to enable an aspiring blockchain developer to get started.

When we put it out there as a beta in March of this year we saw very quick and significant adoption. We had over 2000 smart contract contributors, developers building contracts on the platform and deploying smart contracts of every variety imaginable.”

Several of the companies already on-board include Mediaocean and Global Debt Registry.

Mediaocean automates digital media advertising buys using the new IBM platform, creating a solution for companies who see millions of advertising dollars go astray in intermediary fees as well as non-working media.

Write blockchain code easily and quickly

Starting by building a simulation network using the IBM Starter Plan, Mediaocean then migrated to IBM’s enterprise version of its pilot blockchain platform.

Global Debt Registry aims to assist institutional investors and lenders manage risk and improve efficiency and pricing by offering a solution that guarantees the integrity of a loan asset.

Using the IBM Starter Plan, Global Debt Registry implemented Hyperledger Composer to write blockchain code easily and quickly.

The eventual aim is to create a transparent and immutable record which would assist loan providers by alleviating the risk of double-pledged assets.

The IBM Starter Plan was introduced as an avenue for anyone to be able to access the advantages of the IBM Blockchain Platform, no matter their understanding of the technology itself.

“The Starter Plan is a great place to start because it offers low cost and high value, with the tools we provide on top of open source,” Jerry Cuomo concluded.

Lover of all things crypto, blockchain and AI, professional tech scribe & part of the editorial team at Crypto Disrupt.

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Blockchain Technology Conference program promises deep insights

The Blockchain Technology Conference is on its way. The conference takes place from November 19 – 21 in Berlin.

There will be over 30 sessions to attend and a day filled with power workshops. You will get hands-on experience with international experts, a day of live demos and case studies of real-world implementations, individual interact with experts, and networking opportunities with people from a wide range of industries.

Buy your ticket before July 26 and save up to €470!

Here’s a sneak peak of the three available tracks and what you’ll learn from them.

SEE ALSO: “Blockchain puts a whole new spin on the DevOps process”

Blockchain advanced development

“Hacking blockchain for fun and real profit” by Sun Huang and Wayne Huang

In a time of incredible innovation in blockchain infrastructures and token applications, limited security effort has been made. This has resulted in huge losses due to widespread vulnerabilities and frequent compromises.This talk presents our research into the latest blockchain attack vectors and security incidents. We will cover both traditional attack vectors – exploitation of Web application vulnerabilities (OWASP Top 10) found in token exchanges, network layer attacks such as DDoS,credential phish and social engineering, and malware infections, as well as new attack vectors unique to blockchain technology -exploitation of smart contract vulnerabilities,consensus flaws and 51% attacks, market manipulation, wallet logic flaws, and in-browser mining. We will also study financial-driven civilian actors, as well as nation-state APT (Advanced Persistent Threat) groups.

“Design consideration in creating a new high performance blockchain platform in Java” by Peter Lawrey

In this talk you will learn about some of the key elements in designing a digital currency. How do the economics of the currency work? How do existing solutions work technically? How can a blockchain be architected for high throughput (100K txn/s or even 100M txn/s)? How can a blockchain be used as a framework for building microservices?

Blockchain impact & strategy

“Towards self-sovereign identity” by Arnaud Le Hors

This session will introduce the concept of self-sovereign identity and its growing relevance in the world of GDPR and massive PII breaches. This will cover the open source project Hyperledger Indy – a decentralized system that manages digital identities rooted on blockchains – and related open standards (DIDs, Verifiable Claims, and DKMS), as well as the Sovrin network.

SEE ALSO: Can blockchain really make big data better?

Blockchain technology 101

“Ethereum fundamentals” by Jana Petkanicova

Ethereum — past, present and future! Why is Ethereum so popular and discussed? How does it differ from Bitcoin protocol and what kind of features do we find on its roadmap? What are the most interesting intrafirm or ecosystem use-cases? What about its forks, flaws, and ‘hacks’?

This talk will cover all crucial moments around this amazing platform. You will have a high-level understanding why it’s so disruptive, which programming languages are involved, what kind of privacy models it uses, how consensus affects its performance, and much more.

“Building Ethereum smart contracts with Solidity” by Leandra Tejedor

You will learn about the fundamentals of the Ethereum blockchain and how to program smart contracts in this hands-on workshop. You’ll learn what a smart contract is, the programming language Solidity, and an overview of the industry’s best practices. By the end of the workshop, you’ll have written and deployed your first smart contract, and will have the resources to continue building on your new skills.

Blockchain Technology Whitepaper

The conference’s Blockchain Technology Whitepaper is also available for download. Get the latest blockchain know-how about technology, development, and strategy from the experts. Here’s a taste of the included content:

  • From Java to blockchain: How to become a blockchain developer:Interview with Eugene Kyselev
  • dApps 101: Tips and tricks to get you started:by Michael Kordvani
  • Making smart contracts safe with Hyperledger Sawtooth:Interview with Dan Middleton
  • Take a look at the programyourself and start planning for a great conference full of revolutionary blockchain ideas.

blockchain

Stay tuned for more news and info!

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DNAtix Successfully Transferred Craig Venter’s Y Chromosome Using IBM Blockchain

TEL-AVIV, Israel, June 29, 2018 (GLOBE NEWSWIRE) — Digital DNAtix Ltd., the genetics blockchain company, announced the first successful transfer of a complete chromosome using blockchain technology. With the help of IBM’s Hyperledger fabric, DNAtix transferred the chromosome of genome pioneer Craig Venter, an accomplishment which further propels humanity into new discoveries in the cutting-edge frontier of genetics research and solutions.

Craig Venter, genome pioneer and world-renowned geneticist, published his full genomic data in PLOS magazine in September 2007. (1) Venter’s team used his DNA to generate an assembled diploid human genomic DNA sequence from both chromosomes. In the article, the authors compared Venter’s sequence to reference human genome sequences to enable the study of human DNA.

“Transferring the full sequence of a virus was a challenging project but it is ‘a piece of cake’ compared to transferring the sequence of a full chromosome,” says Ofer A. Lidsky, CEO & CTO and Co-founder of DNAtix. “We are working with genetic data and size does matter when it comes to blockchain.”

IBM HYPERLEDGER

To deal with the size limitation of the current blockchain technologies, DNAtix’s development team sliced Craig Venter’s published DNA sequence into 19 fragments. DNAtix used the Hyperledger Composer tool with JavaScript to transfer the 19 transactions containing the genetic code as metadata. DNAtix will release a whitepaper with an in-depth description of what the development team accomplished.

“Our next goal is to transfer a full human genome sequence over the blockchain to enable genetic information to be shared in an anonymous and secure way,” said Dr. Tal Sines, DNAtix Chief Science Officer and co-founder.

“It is symbolic that the first chromosome transferred over the blockchain is Venter’s as he was one of the key players in the completion of the first human genome ever sequenced as part of the human genome project,” added Dr. Sines. “The size of the diploid human genome is 1.5 Gigabytes, so it will require compression tools to significantly reduce DNA size; a must if one desires to use blockchain technologies. As a reference the average size of a transaction over the Ethereum blockchain is approximately less than 500 bytes.”

When the human genome project was completed in 2003 after 13 years, the costs for sequencing a single genome summed up to US $3B, today full genome sequencing can be completed at the price of approximately US $450 and will soon reach less than US $100. The result is that millions of people will have their genome sequenced.

ABOUT DNAtix

DNAtix, the most cutting-edge genetics and blockchain company, is building the infrastructure for the world’s genetic blockchain ecosystem. An ecosystem where researchers, hospitals, developers, clinicians and others will develop the next generation of decentralized genetics applications and health management solutions. DNAtix is also delivering a direct-to-consumer platform that offers anonymous and encrypted genome sequencing and genetic services, including digitized DNA analysis, storage and transfer. The DNAtix genetics ecosystem is a place where consumers and the industry can meet to share genetic data in a more transparent, accessible, applicable and secured manner. DNAtix is developing the future ecosystem for genetics. A blockchain-based, cutting-edge new, innovative approach to DNA research. DNAtix is the first company to successfully transfer a genetic sequence over the Ethereum Blockchain, and now the first to transfer a complete chromosome. www.dnatix.com

  1. PLoS Biol. 2007 Sep 4;5(10):e254. The diploid genome sequence of an individual human. Levy S1, Sutton G, Ng PC, Feuk L, Halpern AL, Walenz BP, Axelrod N, Huang J, Kirkness EF, Denisov G, Lin Y, MacDonald JR, Pang AW, Shago M, Stockwell TB, Tsiamouri A, Bafna V, Bansal V, Kravitz SA, Busam DA, Beeson KY, McIntosh TC, Remington KA, Abril JF, Gill J, Borman J, Rogers YH, Frazier ME, Scherer SW, Strausberg RL, Venter JC.

Media Contact:

Heidi Groshelle

Groshelle Communications

heidi@groshelle.com

415.307.1380

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Hyperledger’s Brian Behlendorf Named as Top Blockchain Influencer by New York Times

Brian Behlendorf, Executive Director of the Linux Foundation’s Hyperledger project, has been named one of the top 10 influential voices in the blockchain world, in a New York Times commentary titled “The People Leading the Blockchain Revolution.” Blockchain technology—which encompasses smart contracts, distributed ledgers, and more—is already transforming contracts, payment processing, asset protection, and supply chain management.

In the article, Behlendorf is credited with driving the evolution and widespread adoption of numerous essential blockchain platforms and tools.

“Mr. Behlendorf has helped bring in other big names who are helping to make Hyperledger the focus of much of the corporate and governmental interest in blockchains today,” the Times reports.

Read more at The Linux Foundation

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