Avalanche rakes in £167m of funding led by Polychain

Avalanche

Avalanche, a proof-of-stake and smart-contract enabled cryptocurrency, has received £167 million in funding through a private sale led by Polychain and Three Arrows Capital.

R/Crypto Fund, Dragonfly and CMS Holdings also invested substantially by buying up the company’s native AVAX token.

Avalanche is an ultra-fast and eco-friendly blockchain protocol with a growing ecosystem of decentralised finance (DeFi) products.

Avalanche has experienced monumental...

Deutsche Telekom invests in Celo mobile blockchain

Telecoms giant Deutsche Telekom has invested in the mobile decentralised finance (DeFi) platform Celo.

Celo is an open-source blockchain project used in more than 100 countries focused on bringing DeFi systems and tools to smartphones. It allows users to send and receive money with Celo’s native coin (CELO) through their mobile device.

Deutsche Telekom is the first telecommunications company to join Celo’s Alliance for Prosperity, a global alliance of more than 130...

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...

Fergal Downey, Rakuten: On how blockchain is being used for retail, Covid compliance, and more

Ahead of his talk at Blockchain Expo on March 17, The Block speaks with Fergal Downey regarding the inner workings of his engineering team, his thoughts on the challenges facing enterprise organisations, and the potential future directions of the blockchain industry.

Fergal Downey is vice president (VP) of engineering at Rakuten Blockchain Lab in Belfast, the blockchain-based products and solutions team for Japanese eCommerce giant, Rakuten. Prior to joining in 2016, he led an...

ShapeShift report cites Cosmos, Polkadot, and NEAR as key emerging smart contracts tech

Cryptocurrency exchange platform ShapeShift has released a new in-depth report on new smart contracts protocols - and has cited Cosmos, Polkadot, and NEAR with particular potential for decentralised applications (dApps).

The report, authored by Kent Barton, head of research and development at ShapeShift, is the first in a series of three reports to be published this year aimed at providing an in-depth review of the opportunity and state of evolution within the blockchain,...

Elder Research partners with Smarter Contracts in blockchain and AI play

Elder Research, a provider of artificial intelligence (AI) and data science technologies, has signed a strategic partnership with Smarter Contracts, a UK based fintech company focused on data privacy. The two businesses are preparing to launch the first of its kind data privacy platform, by combining the unique features of blockchain technology with artificial intelligence.

Together they plan to incorporate elements of Elder Research’s AI and machine learning knowledge into an...

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,...

Cardano is ‘building bridges’ to Ethereum with new KEVM testnet

Cardano is launching a new KEVM (K Ethereum Virtual Machine) to build a bridge with the leading smart contract platform’s developers.

Charles Hoskinson, Founder of Cardano and CEO of IOHK, was a co-founder of Ethereum. 

Disagreements over Ethereum’s direction led Hoskinson to create Cardano, taking a more academic approach to its development and fixing the notorious problems which have plagued the largest smart contract platform.

Cardano launched after...

Xbox to use blockchain for gaming royalties with Microsoft and EY collaboration

Ernst & Young (EY) and Microsoft have announced the expansion of Microsoft's blockchain-based solution for gaming right and royalties management - to help Xbox gaming partners and content creators.

The expansion looks to accelerate contract digitalisation by creating contracts faster using AI based on Microsoft Azure, as well as seamlessly generate and integrate statements and invoices with ERP (enterprise resource planning) applications. Accounting entries will be generated...

EY ramps up blockchain offering with procurement and visualisation tools

EY (Ernst & Young) has continued its blockchain momentum with two new releases of an enterprise network procurement offering and visualisation tool.

The EY OpsChain Network Procurement tool, built on the EY OpsChain platform, will aim to allow companies to run private, secure, end-to-end procurement activities on Ethereum.

"As more and more companies work as part of global business networks, it has become difficult to manage network-level agreements from inside a...