Cardano (ADA) parent company IOHK joins Hyperledger

IOHK, the company behind the Cardano (ADA) blockchain, has joined Hyperledger, an open-source community focused on developing blockchain technology. In a press release shared with CryptoSlate, the company said that this will allow it to collaborate with other companies in the blockchain community and further improve Cardano. Apart from IOHK, seven more entities joined Hyperledger yesterday.

IOHK becomes an associate member at Hyperledger

Input Output Hong Kong (IOHK), the company behind the ambitious Cardano blockchain, has announced that it has joined Hyperledger, an open-source community focused on building enterprise-grade blockchain technology.

In a press release shared with CryptoSlate, the company said that becoming part of this consortium will enable IOHK to collaborate with other companies and entities in the blockchain community. Working together with some of Hyperledger’s other members will provide IOHK with an opportunity to refine the architecture of its product and expand its interoperability.

Roman Pellerin, the CTO at IOHK, said that the blockchain community’s overall success will largely depend on its ability to collaborate.

“It’s great to be involved in an organization which shares that philosophy and is working towards utilising blockchain to create a better industry, and more open, accessible world.”

Hyperledger’s 250+ members working together to build new business collaborations

By entering the Hyperledger community, IOHK will be able to tap into its “exceptional wealth of shared knowledge and expertise.” This, Pellerin said, will enable the company to develop new industrial and business collaborations.

Brian Behlendorf, Hyperledger’s executive director, said that IOHK’s “strong vision” for decentralized networks makes it a great addition to its community. The consortium has been adding new members since the beginning of the year, with seven new members joining this week alongside IOHK.

Aside from IOHK, Atomyze by Tokentrust AG, Binarystar, DB Systel GmbH, IOVlabs and Public Mint have all joined Hyperledger this week, while Global Blockchain Business Council and the InterWork Alliance joined earlier this month.

Behlendorf said:

“As our line-up of new members underscore, the Hyperledger community is about putting blockchain to work in impactful ways around the world and across industries.”

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Cardano News Today – Cardano Seals Deal With Hyperledger But ADA Gets Hit By the Bears As it …

  • Cardano Successfully Seals a Deal With Hyperledger
  • Cardano ADA Nosedives, Falls Below the $0.0700 Level Despite the Upcoming Cardano Shelley Mainnet Launch

Cardano News Today – Hyperledger has spent the last few years recruiting the best blockchain firms to join its network. The latest blockchain to join the Hyperledger group is Cardano and it has brought the number of companies using the blockchain as high as 250. Some other popular companies in the Hyperledger network are Ripple, FedEx, Walmart, and Huawei. This number is only going to keep increasing so it’s not a surprise that Cardano has joined the group. Cardano isn’t the only firm that joined Hyperledger recently. In the announcement, Hyperledger announced that the new members are DB Systel GmbH, IOVlabs, Public Mint, Binarystar, Atomyze by Tokentrust AG.

Cardano News Today – What will Cardano Gain From Joining the Hyperledger Group?

The Hyperledger group is an open-source blockchain consortium that is focused on introducing structures and solutions that benefit its members. While it is a blockchain consortium, not all the members of the group are blockchain-based companies. Joining Hyperledger will open a door of limitless opportunities for Cardano. Roman Pelerin, the Chief Technology Officer at IOHK, had this to say about partnership;

Cardano (ADA) Price Today – ADA / USD

Name Price
cardanocardanocardano

Cardano

$0.078

“One of IOHK’s founding principles is its belief in nurturing a collaborative ecosystem for blockchain development. Our commitment to knowledge-sharing and to our deeply-held principles of open-source serves as the rationale behind becoming a member of the Hyperledger community.”

Hyperledger also had something positive to say about its new members;

“Our goal at Hyperledger is to bring together a strong and diverse community to advance cross-industry blockchain technologies,” said Brian Behlendorf, executive director at Hyperledger. “IOHK has the deep domain expertise and a strong vision for decentralized networks that make it a great addition to our community.”

Cardano News Today – Cardano ADA Falls Below the $0.0800 Level As Bulls Lose Their Grip

At the time of writing, the price of the token was $0.079497. It is down by 2.74% against the USD and down by 0.03% against Bitcoin BTC. The trading volume over a 24 hour period is $322,894,805 and the market capitalization is $2,061,135,466. The Cardano ADA price is falling after a significant surge against the USD over the last few weeks. After rising by more than 70%, the price of Cardano ADA is now entering the bearish territory. With the Cardano Shelley mainnet launch is on the way and it’s surprising that the ADA token is losing its bullish grip at this time. It’s possible that people are selling their tokens because they don’t know what to expect after the Shelley mainnet launch.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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Microsoft, Nasdaq and Others to Set Global Tokenization Standards

Microsoft’s principal architect, Marley Gray, and Enterprise Ethereum Alliance’s former executive director, Ron Resnick, on Tuesday launched the InterWork Alliance, a nonprofit organization aimed at bringing global standards to the token-based ecosystem.

At launch, the IWA included more than 28 blockchain, technology and financial organizations from around the world, including Microsoft, Chainlink, Hyperledger, IBM, Nasdaq, Accenture and others.

The IWA indicated that startups presently working on tokenized ecosystems are mostly focusing on their individual solutions and marketing their platforms to other businesses.

Setting global standards, it said, will help focus this wide-scale innovation to make a collective impact on businesses. Resnick, IWA’s president, stated:

“For this approach to work, standards are urgently needed around defining what a token is and how its contractual behaviors will work.”

Helping businesses with a common framework

InterWork Alliance plans to work on three different frameworks of global standards for tokenized ecosystems. First, the Token Taxonomy Framework will provide a common language and toolset so that multiple parties can agree on the same terms that define a token and its use.

The InterWork Framework will help businesses compose multiparty contracts from standard, globally recognized clauses set by the IWA. Lastly, the Analytics Framework will help businesses analyze multiparty contracts and utilize artificial intelligence services and market-driven data reporting.

With these, the IWA will eventually work on interoperability between decentralized applications from different blockchain networks.

Standardization for wider adoption

Organizations involved with the IWA are highly optimistic about how bringing global standards to the token ecosystem will further the adoption of distributed business models.

Gray noted that providing industry participants with token standards for a variety of distributed technology use cases can help foster interoperability and drive widespread adoption.

Brian Behlendorf, the executive director of Hyperledger — an IWA member — said:

“Standards play a critical role in the evolution and adoption of any emerging technology. Distributed applications and token-based services will require established frameworks that assure solutions interwork on the business level, regardless of underlying technology platforms.”

“The Alliance will help establish a foundation not only for technology and business but for the changing tokenization landscape as well. A platform-neutral alliance is critical for the entire industry,” said Nitin Gaur, the director of IBM WW Digital Asset Labs.

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Uppsala, Danal to Create a Crypto AML Solution

Uppsala, Danal to Create a Crypto AML Solution

Uppsala, the popular decentralized tech-based cybersecurity firm, is looking to great the first-ever Anti-Money Laundering (AML) system in the crypto space. It plans to build this system on the Danal FinTech mainnet based on HyperLedger Fabric.

According to a Medium blog post on May 12, Uppsala has signed a contract with Danal, under which both firms will work together to establish an AML system. Previously known as PayProtocol, Danal FinTech is a well-known name in the South Korean market dealing majorly with payment integration.

How would it work

The blog post has also spelled out details about the contract between the two firms. According to it, Uppsala would design the AML product solution while Danal would be responsible for running it.

Expanding on how the AML product would work, the blog post reiterated that its functionalities would exceed those which existing financial institutions have implemented. So, this new AML design would be instrumental in regulating, tracking as well as analyzing all crypto transactions. This would effectively prevent any form of fraudulent or money laundering activities. In case there is any report of a suspected fraudulent activity, the Financial Intelligence Unit (KoFIU) would immediately take over.

Regulators and the crypto space

The entire crypto space has over time faced a lot of criticism from regulators and government agencies worldwide. This partnership further illustrates one of Danal’s aims, which is, to ensure the global acceptance of digital tokens. And the firm believes this can only happen if the crypto space and government agencies decide to reach a consensus.

To that end, Danal has combined its top-notch payment system with blockchain technology creating the hi-speed and highly secured Hyperledger mainnet. On the other hand, Uppsala designs its AML security solution with machine learning and artificial intelligence (AI) algorithms. Besides, it provides customizable solutions with an innovative fault-finding function that can identify and reduce money laundering and terrorist financing.

Notably, Uppsala first came into the limelight last month garnering approval for its security and blockchain-based technical capabilities. It was also the recipient of the “2020 Asia-Pacific Blockchain and Cryptocurrency Security Technology Innovation Award”.

Before this collaboration, Danal has partnered with top industry partners such as Kyobo Bookstore, CU, Domino Pizza, Shinsegae SSG Pay, etc. Its focus lay on providing users with “more convenient and user-friendly payment experience in their day-to-day life”

What the partners said

Speaking on the partnership, Ted Hwang, the CEO of Danal FinTech, pointed out that before expanding overseas, they would ensure important policies were in place. This, in essence, would ensure “a safe and compliant virtual asset settlement service environment”.

The Danal CEO also stated their objective to promptly respond to changes established by major countries in the regulatory environment. According to him, the alliance with Uppsala was the first step towards that goal.

Founder of Uppsala, Patrick Kim, expressed his hope to expand their business by “jointly providing ready solutions for payment companies using the Hyperledger Fabric framework.”

Earlier this year, we had reported Singapore enacting new AML regulations for crypto firms. Last year we covered the story of crypto businesses leaving the European Union markets due to its AML regulatory framework.

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Trend Micro Research Identifies Critical Industry 4.0 Attack Methods

Dateline City:
DALLAS

Research report outlines advanced attack scenarios and recommendations for OT operators

DALLAS–(BUSINESS WIRE)–Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity solutions, today released research describing how advanced hackers could leverage unconventional, new attack vectors to sabotage smart manufacturing environments.

For this report, Trend Micro Research worked with Politecnico di Milano in its Industry 4.0 lab, which houses real manufacturing equipment from industry leaders, to demonstrate how malicious threat actors can exploit existing features and security flaws in Industrial IoT (IIoT) environments for espionage of financial gain.

Language:
English

Contact:

Erin Johnson
817-522-7911
media_relations@trendmicro.com

Ticker Slug:
Ticker:
4704

Exchange:
TOKYO

ISIN:
JP3637300009

Ticker:
TMICY

Exchange:
OTC Pink

@TrendMicro

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China’s Blockchain Services Network ‘ChinaChain’ Launches for the Public

China’s dominance in cryptocurrency has been shown over the last few months as the country set out to create a completely new framework for decentralized applications and blockchain networks. The main focus of the country was to create its native blockchain network, which came to fruition last weekend.

On April 25, the country launched the Blockchain Services Network [BSN] for commercial purposes, both locally and globally. The blockchain network will be called ‘ChinaChain,’ a not so subtle way to indicate the presence of the country in the ecosystem.

The BSN will work as a cross-portal, cross-framework, cross-cloud global network primarily used to launch a myriad of blockchain applications. News about the BSN has been circulating for more than a year now, with rigorous testing having started 6 months ago.

The government revealed the complete system at a virtual press conference, taking precautions to avoid the spread of a highly contagious coronavirus. Official releases confirm that the launch and internal functioning of the BSN were all mandated by the authoritarian Chinese government.

Zhiguang Shan, Chairman of the BSN Development Association, claimed that the new system would act as a centerpiece for a variety of blockchain platforms. There are plans to integrate popular blockchain platforms like WeBank’s FISCO BCOS, Baidu’s Xuperchain, EOS, Ethereum and Hyperledger Fabric. The technical paper of the BSN stated:

“The main goal of the BSN has always been to create a public infrastructure similar to that of the internet and to provide a one-stop-shop style blockchain-based service that integrates cloud resources, underlying frameworks, operating environments, key management, development SDK and gateway API. Just like building a simple website on the internet, developers can deploy and operate blockchain and distributed ledger applications conveniently and at an extremely low-cost.”

The BSN also aims to solve the problem of interoperability within a complex system, something that many other companies have tried to address in the past. This time around, many officials in the space were confident that the BSN would be able to handle the situations. One of the officials who were positive about the launch was Hoggang Chen, VP of PeerSafe, a blockchain startup based in Beijing. He claimed that the efforts of BSN would crack the interoperability code with plans to launch Peersafe products on the latest network.

Members of the BSN team stated that not all network protocols will be allowed in the latest blockchain framework. Zhiguan Shan said that foreign protocols such as HyperLedger will have to be tweaked in order to fit into the workings of the BSN. The BSN Network Operations Platform is currently managed by its founding members, including China UnionPay, Red Date Tech and China Mobile.

Small and medium-sized enterprises within the country are expected to benefit from the latest launch as it provides a faster and more interconnected trading ecosystem. BSN will host data from multiple cloud providers to ensure a free flow of information between all parties involved. A cursory analysis has shown that BSN is ready to host thousands of applications on its network, just like the Internet.

According to earlier releases, we know that the network is backed by large Chinese corporations and banks. Interconnectivity was the need for an hour with multiple nodes set to be placed outside the mainland of China. Seven location cities have been selected: Sydney, Paris, California, Singapore, Tokyo, San Paulo, California, and Johannesburg.

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World Economic Forum explores blockchain interoperability

Yesterday the World Economic Forum (WEF) published a white paper on blockchain interoperability written in collaboration with Deloitte.

The paper starts off exploring the need for interoperability, such as a blockchain with a narrow use case, perhaps for bills of lading, which needs to interoperate with a broader supply chain blockchain. Typically most supply chain blockchains need to support insurance and trade finance and hence potentially be interoperable with blockchains offering these services.

Interoperability is one of those terms that has a broad meaning. Typically, blockchains interoperate with legacy systems, although these integrations usually use application programming interfaces (APIs). Additionally, smart contracts often access external data or feeds, and these are referred to as oracles.

Blockchain interoperability refers to two separate blockchain networks talking to each other. That can happen using APIs, but this is viewed as sub-optimal. And there are two kinds of interoperability.

One involves exchanging digital assets, so perhaps exchanging some digital stock for digital currency. The ability to make this exchange instantly is usually referred to as an atomic swap. It has numerous advantages because the payment risk disappears, and many central counterparties exist to address these payment risks.

The other kind of blockchain interoperability is to exchange data. This typically happens with supply chain and insurance.

Interoperability is a lot more than technical integration

Blockchain interoperability is often viewed as a technical challenge, but there’s a lot more to it than that. The WEF divides into the Business, the Platform, and the Infrastructure.

The business aspect encompasses the governance of the blockchain and trust between the two networks, as well as data standardization. To share data, it has to be standardized. But often this homogeneity is focused within a single network as opposed to across networks. Other business aspects include incentives and the legal framework, which can be a bigger challenge across jurisdictions.

The platform refers to the blockchain protocol, consensus mechanism, smart contract languages, and how users are authorized and permissioned. And the infrastructure looks at the hosting of servers in hybrid clouds, managed blockchains, and whether there are potentially proprietary components that might hinder interoperability.

Different projects that implement interoperability are explored, mostly for public blockchains, include the well-known projects Cosmos and Polkadot. For enterprise blockchain, the WEF referred to Hyperledger Quilt, the open source implementation of Ripple’s Interledger, as well as the Corda Settler.

No paper can cover every relevant project out there, but it’s worth highlighting three that were omitted and are relevant to the enterprise blockchain community. Firstly, Hyperledger has a new early stage Labs project initiated by Accenture called the Blockchain Integration Framework (BIF). It currently enables the exchange of on-chain data or assets between Hyperledger Fabric, Quorum and R3’s Corda.

Another that is more focused on exchanging currencies or digital assets is ION from Clearmatics, the developer behind the Utility Settlement Coin / Fnality, backed by several of the world’s biggest banks. And there’s also Quant’s Overledger.

This is the latest blockchain paper from the WEF. Previous ones have included how to measure blockchain’s value, how to choose between private and public blockchains, and exploring blockchain deployment challenges based on the UAE’s extensive experience.

The organization also initiative a blockchain consortium for the metals and mining sector and a traceability platform for sustainability.


Image Copyright: phochi / BigStock Photo

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Hitachi expands its commercial solutions built on Ethereum

Hitachi has expanded its blockchain-based commercial solutions in a partnership with ConsenSys—which funds an editorially independent Decrypt—starting today.

Hitachi’s integration, consulting and core IT arm, Hitachi Solutions, will now offer its Japanese clients solutions built on PegaSys, which runs on the public Ethereumblockchain and private versions of it.

Speaking to Decrypt, a spokesperson for ConsenSys explained that Hitachi Solutions will act as a reseller/distributor of PegaSys Plus globally, but with a special focus on Japan, given that is their domestic market.

“ConsenSys is also considering joint R&D and development with Hitachi itself, both on commercial projects and also through the Hyperledger Foundation,” she added.

ConsenSys stated that both Hitachi Solutions and Hitachi have clients who want to develop proof of concepts and production projects on Ethereum. The companies have already been servicing them using Hyperledger Fabric, and will now start offering solutions built on PegaSys Plus.

“Hitachi Solutions and ConsenSys will collaborate to provide comprehensive services and solutions for decentralized applications built on PegaSys Plus, from the introduction of PoCs [proofs of concepts] to development, operation, and client education,” reads the official announcement.

Per the blog post, customers will be able to utilize PegaSys in various fields such as financial services, healthcare, supply chains, logistics and retail. The client provides additional commercial features, including security configuration, real-time event streaming, advanced monitoring and database encryption.

The joint initiative will offer its customers various end-to-end solutions, ”from education and training to advisory, to PoC and production builds across use cases, using the PegaSys,” ConsenSys spokesperson added.

As Decrypt reported previously, ConsenSys has become a premium member of Hyperledger, a project focused on open-source technologies related to enterprise blockchains, last September. The engineering team behind PegaSys submitted its Ethereum client to the project at the same time.

For now, the partnership is primarily a distribution channel. However, ConsenSys and Hitachi are already considering “opportunities for co-development and joint go-to-market initiatives.”

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Manufacturing & Industrial Automation Lead The Way

I’m always surprised that some people think of manufacturing as stodgy, old school and slow to change – in my view, nothing could be further from the truth! All the evidence shows that the manufacturing industry has consistently led the way from mechanical production, powered by steam in the 18th century, to mass production in the 19th century, followed by 20th century automated production.

The data center merging with the factory floor

Fast forward to today. The fourth industrial revolution is well underway, driven by IoT, edge computing, cloud and big data. And once again, manufacturers are at the forefront of intelligent production, leading the way in adopting technologies like augmented reality, 3D printing, robotics, artificial intelligence, cloud-based supervisory control and data acquisition systems (SCADA) plus programmable automation controllers (PACs). Watch the video below that addresses how manufacturers are changing to embrace Industry 4.0.

In fact, I always visualize the fourth industrial revolution, otherwise known as Industry 4.0, as the data center merging with the factory floor, where you have the perfect blend of information and operational technology working together in tandem. Let’s look at a couple of examples.

Helping monitor and manage industrial equipment

One of our customers, Emerson, a fast-growing Missouri-based company with more than 200 manufacturing locations worldwide, provides automation technology for thousands of chemical, power, and oil & gas organizations around the world. Today, Emerson customers are demanding more than just reliable control valves. They need help performing predictive maintenance on those valves.

To address these needs, Emerson worked with Dell Technologies OEM | Embedded & Edge Solutions to develop and deploy an industrial automation solution that collects IoT data to help its customers better monitor, manage and troubleshoot critical industrial equipment. With our support, Emerson successfully developed a new wireless-valve monitoring solution and brought it to market faster than the competition. This is just the first step in what Emerson sees as a bigger journey to transform services across its entire business. You can read more about our work together here.

Bringing AI to the supply chain to reduce waste and energy

Meanwhile, San-Francisco based Noodle.ai has partnered with us to deliver the world’s first “Enterprise AI” data platform for manufacturing and supply chain projects.

This solution allows customers to anticipate and plan for the variables affecting business operations, including product quality, maintenance, downtime, costs, inventory and flow. Using AI, they can mitigate issues before they happen, solve predictive challenges, reduce waste and material defects as well as cutting the energy required to create new products.

For example, one end-customer, a $2 billion specialty steel manufacturer, needed to increase profit per mill hour, meet increasing demand for high quality steel at predictable times, and reduce the amount of energy consumed. Using the “Enterprise AI” data platform, the customer reported $80 million savings via reduced energy costs, freight costs, scrapped product, and raw material input costs.

Helping design innovative and secure voting technology

Yet, another customer, Democracy Live wanted to deliver a secure, flexible, off-the-shelf balloting device that would make voting accessible to persons with disabilities and that could replace outdated, proprietary and expensive voting machines.

After a comprehensive review of vendors and products, Democracy Live asked us to design a standardized voting tablet and software image. Our Dell Latitude solution complete with Intel processors and pre-loaded with Democracy Live software and Windows 10 IoT Enterprise operating system provides strong security and advanced encryption.

And the good news for Democracy Live that we take all the headaches away by managing the entire integration process, including delivery to end-users. The result? Secure, accessible voting with up to 50 percent savings compared with the cost of proprietary voting machines. Read what Democracy Live has to say about our collaboration here.

Change is constant

Meanwhile, the revolution continues. Did you know that, according to IDC, by the end of this year 60 percent of plant workers at G2000 manufacturers will work alongside robotics, while 50 percent of manufacturing supply chains will have an in-house or outsourced capability for direct-to-consumption shipments and home delivery? More details available here.

Unlock the power of your data

Don’t get left behind! Dell Technologies OEM | Embedded & Edge Solutions is here to help you move through the digital transformation journey, solve your business challenges and work with you to re-design your processes. We can help you use IoT and embedded technologies to connect machines, unlock the power of your data, and improve efficiency and quality on the factory floor.

And don’t forget we offer the broadest range of ruggedized and industrial grade products, designed for the most challenging environments, including servers, edge computing, laptops and tablets. We’d love to hear from you – contact us here and do stay in touch.

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