Microsoft negates need for mining with blockchain protocol aimed at enterprise

Microsoft has rolled out a new Blockchain-as-a-Service (BaaS) product to Azure, which could allow businesses to roll out Ethereum-based blockchains within minutes with ‘single-click’ access to distributed ledger technologies (DLT). Azure’s current support of Ethereum, which it says has been deployed “tens of thousands of times” across a variety of industry verticals, has been based so far on a Proof-of-Work protocol, which requires expensive computer calculations in order to...

Google confirms entry into blockchain technology with new cloud partnerships

Google has confirmed it will be supporting blockchain distributed ledger technology (DLT) on its Cloud Platform (GCP), with more details expected at its Next ‘18 conference in San Francisco today (July 24). In an announcement regarding the event, Google said that customers can now explore ways they might use DLT frameworks on the platform with launch partners including Digital Asset and BlockApps, with open-source integrations for Hyperledger Fabric and Ethereum available later this year...

Lufthansa launches ‘blockchain challenge’ as aviation projects take off

German airline Lufthansa has teamed with up with enterprise software giant SAP to launch an “Aviation Blockchain Challenge”. The initiative seeks to generate and source “inspiring and groundbreaking” ideas for blockchain solutions that ultimately make traveler experiences and airline operations smoother, which if viable, can then be transitioned into pilot phase with SAP. Gleb Tritus, managing director of Lufthansa’s Innovation Hub, the arm of the airline managing the...

CrimsonLogic launches government-backed blockchain trade platform in Singapore

The Singapore-based e-government services provider CrimsonLogic, owned by a government agency IE Singapore and an international port operator, has launched a blockchain for cross-border trade. Launched yesterday by the company’s subsidiary GeTS (Global eTrade Services), Open Trade Blockchain (OTB) has been developed as an “inclusive and extensible” blockchain service to boost efficiency, security and transparency in global trade, but will focus initially between ASEAN (Association of...

IT giant Oracle rolls out blockchain-as-a-service platform

US multinational IT firm Oracle has announced the general release of its blockchain-as-a-service (BaaS) platform, joining the likes of IBM, SAP and Microsoft. Announced yesterday, the Oracle Blockchain Cloud Service (OBCS) offers a fully-managed platform built on Hyperledger Fabric, allowing companies to automate processes over an immutable ledger without the complexities and costs associated with bringing the technology in-house. With a particular focus on facilitating efficient and...

European banks complete ‘real-life’ cross-border blockchain transactions

Four European banks have successfully completed live cross-border trades using blockchain technology. The ‘real-life’ financial transactions were carried out on the We.Trade platform - a joint-venture between nine leading banks - and represents a significant move beyond pilot stage for enterprise-level blockchain technology in the financial sector. “The application is no longer a proof of concept, but a company with its own team that is set to deliver the first concrete...

Why ‘coopetition’ could be the biggest barrier to blockchain adoption

The biggest barrier to blockchain adoption at scale may be rivalry within the ecosystem itself, rather than any particular grapplings with the emerging technology. That’s according to a report by management consultancy firm McKinsey which, based on analysis of 90 use cases for distributed ledger technology (DLT), said that a “coopetition paradox” between industry competitors threatened to put a damper on its wider uptake. “Despite the hype” of blockchain, with the ICO (initial...

Microsoft’s blockchain for copyright could become world’s biggest enterprise network

Microsoft has teamed up with consulting firm EY to launch a blockchain solution aimed at managing content rights and royalties for authors, songwriters, production houses, developers and other creators. The plan is to use the technology to streamline what can be a costly and time-consuming process, with millions of transactions per month amounting to billions of dollars in royalty fees. At present, these are generally managed manually via offline data sources, but Microsoft wants to...

Northern Trust wins blockchain patent for storing meeting minutes

Northern Trust, a financial services firm, yesterday (June 7) won a patent filing for a method of storing meeting records using blockchain technology. The company has been enjoying the benefits of the technology for some time, having created its own private blockchain with IBM for data capture at the beginning of 2017. The new patent, however, refers to the process of using smart contracts to capture data directly from meetings, such as attendance records, and when and where the meetings...

Fujitsu rolls out blockchain rewards points service for Japan tourist market

Fujitsu has today (June 6) announced the launch of its ‘Blockchain Asset Service’ in Japan, a cloud service that utilises blockchain technology, catering for the ‘tokenisation’ of reward points from retailers. The potential of this would allow for coupons, stamps and digital points to be made available to consumers for use among multiple vendors within designated areas - such as shopping centres, tourist sites and markets - for a set time period, accessed by reading QR codes in...