Klaytn and ConsenSys to collaborate on Bank of Korea CBDC pilot

Klaytn, the public blockchain project of Korean Internet provider Kakao, has announced a strategic partnership with ConsenSys to improve its digital currency capabilities in preparation for its participation in the Bank of Korea's CBDC pilot platform later this year.

As well as working with national banks, Klaytn also expanded into the NFT market through OpenSea support at the end of March, highlighting the company's diverse array of ventures so far this year.

Klaytn...

South Korea threatens to shutdown all crypto exchanges amidst growing crackdown

The head of South Korea’s financial regulatory agency has said that all crypto exchanges operating in the country could be shut down later this year.

The statement from Eun Sung-soo comes as the South Korean government has launched a reinvigorated crackdown on ‘illegitimate crypto businesses’ and digital money laundering.

Seoul’s tax collection department kicked off the crackdown last week with the seizure of 25 billion won (£16.1 million) from over 600 tax...

How blockchain can accelerate the United Nations’ most sustainable development goals

The United Nations (UN) Sustainable Development Goals (SDGs) are becoming increasingly relevant in today’s world. The desire to both do good and do well is driving so many types of organisations and individuals to play their parts. Governments, impact investors, individual donors, high-net-worth philanthropists, foundations, non-profits, social enterprises and even many for-profit corporations have upped their game in improving society and the environment.

It is heartening to...

Bank of England taskforce announced to explore CBDC potential

The Bank of England and the Treasury have announced the creation of a joint taskforce to explore the potential upsides and pitfalls of a UK central bank digital currency (CBDC), referred to as ‘Britcoin’ by chancellor Rishi Sunak.

The taskforce will be jointly led by the Bank's deputy governor for financial stability, Sir Jon Cunliffe, and the Treasury's director general of financial services, Katharine Braddick.

The use of cash in financial transactions has been...

Russia opens up blockchain database with launch of English language version

The Department of Information Technologies of Moscow has made an English language version of Russia’s blockchain knowledge base available on the ICT.Moscow portal.

Aimed at analysts, smart city experts, and developers of blockchain projects, the database currently presents 52 use cases of blockchain in various industries with the fintech and public sector categories featuring the largest number of applications – 16 and 13 respectively.

New use cases will be added...

China’s 14th five-year plan: Blockchain and digital currency part of ‘new infrastructure’ investments

China has referenced blockchain and digital currency technologies in its latest five-year plan.

The 14th iteration of the five-year plan, which is a guiding document for the country’s future social development and economic growth from 2021 to 2025, places significant emphasis on ‘new infrastructure.’

In a chapter called ‘accelerating digitalisation development and building a digital China,’ the government pledged to ‘strengthen the innovative applications of...

Associated Press auctions first NFT artwork commemorating blockchain usage in US election

As non-fungible tokens (NFTs) become an increasingly popular way to create artificial scarcity in the digital marketplace, the Associated Press (AP) has listed its first ever NFT artwork for auction in collaboration with Everipedia and digital artist Marko Stanojevic.

Total sales across NFT marketplaces stood at $500 million (£360m) in February, compared to just $200m (£144m) for the whole of 2020, signifying their increasing popularity due to Bitcoin’s growing value alongside...

Charles Hoskinson, Founder, Cardano: On restoring trust through decentralisation

The Block spoke with Cardano founder Charles Hoskinson about the blockchain industry and restoring trust through decentralisation ahead of the platform’s upcoming launch of smart contracts.

Hoskinson co-founded the current decentralised app platform leader, Ethereum, but left the project following a dispute about accepting venture capital and the need for a more formal governing structure. He went on to found Cardano in 2015 and became the CEO of the project’s main developer,...

NHS works with Hedera Hashgraph and Everyware to monitor Covid-19 vaccine storage

The National Health Service (NHS) is working with Hedera Hashgraph and digital asset tracking and monitoring provider Everyware to monitor cold storage equipment being used to store Covid-19 vaccines.

Certain Covid-19 vaccines, such as the vaccine developed by Pfizer which was approved for use in the UK in December, require exact cold storage for ideal efficacy. Centralised distribution centres and transportation units can store the vaccine at the recommended -70°C for up to 10...

SIMBA Chain secures $1.5 million Navy contract for blockchain demand sensing

SIMBA Chain, an Indiana-based blockchain technology provider, has been awarded a $1.5 million contract from the US Office of Navy Research to 'design and build a blockchain solution to enable demand sensing.'

The contract, which falls under the Small Business Innovation Research (SBIR) Phase II branch, will see SIMBA Chain develop a demand sensing solution for the Defense Logistics Agency. Demand sensing is used by the US military to ensure critical replacement parts for weaponry...