IBM Food Trust made available in landmark for food supply-chain tracking

IBM Food Trust, a blockchain-based food and supply chain solution, is now live for use by global retailers, making it one of the first-ever enterprise projects of its scale to get to market.   The launch of the solutions-as-a-service cloud platform follows 18 months of development and testing with partners including Walmart, Nestle, Dole, and 3M. IBM also announced today the signing of French supermarket giant Carrefour, which will bring 12,000 stores across 33 countries to the...

Q&A: Why IBM is working on a decentralised blockchain architecture for IoT

The computing giant IBM is becoming an established label in blockchain innovation, with numerous projects in action well beyond the experimentation phase. Just in the last month, the firm launched TradeLens with shipping behemoth Maersk - offering a shipment-tracking network across 20 port and terminal operators and 235 marine gateways globally. That’s as well as rolling out a cross-border payments platform WorldWire, making it possible for financial institutions to clear and settle...

World’s first blockchain bond is launched by World Bank and CBA

The World Bank and Commonwealth Bank of Australia (CBA) have launched the world’s first bond created and managed using blockchain technology. Announcing the initiative early this month, the World Bank appointed CBA to lead the fund’s development on August 15, dubbing the prototype deal bond-i, standing for Blockchain Operated New Debt Instrument (and a pun on Sydney’s famous beach). Since then, the bond has outstripped initial estimates to raise $80.48m (£62m) for the World Bank....

UBS Group CEO says blockchain ‘almost a must’ for businesses

The CEO of Swiss financial services provider UBS Group AG, Sergio Ermotti, has said that blockchain technology is “almost a must” for businesses to remain competitive within the coming decade. Ermotti endorsed the technology in an interview with CNBC, calling it a “great way” for companies to become more efficient and reduce costs for certain operations, adding that for the financial services sector it will be “as crucial and disruptive, and changing as regulation was in the last...

Crypto exchange Binance sets up in Jersey as ‘safe-harbour’ expansions continue

One of the world’s largest cryptocurrency exchanges, Binance has signed a memorandum to launch a crypto-to-sterling currency exchange to Jersey, the British Channel Island that boasts complete financial autonomy. Working with Digital Jersey, an organisation focused on making the island an “internationally recognised centre of digital excellence” through its support of tech businesses, Binance CEO, Zhao Changpeng, said Jersey had been chosen for its “clear and pro-crypto investment...

Dutch Central Bank shelves blockchain plans after three-year trial

The Central Bank of the Netherlands (De Nederlandsche Bank, or DNB) has stated publicly that blockchain technology is not a beneficial addition to the country’s payment systems. The decision has not been made lightly, however; the Dutch central bank has spent three years researching the technology’s application, developing four distributed ledger prototypes, but concluded that blockchain is not ready to meet the demands of financial market infrastructure. On the solutions it tested,...

Not many Americans are reporting crypto gains according to new report

Americans not declaring crypto gains

According to a report by Credit Karma, not many US citizens are reporting cryptocurrency transactions to US tax authorities. Of the 250,000 people that have so far filed their federal taxes (due by 17 April), less than 100 have reported some kind of cryptocurrency transaction. This is despite the results of a survey by the company where 57% of 2000 American reported that they had realised some crypto gains. Over half of the same survey sample claimed to have never reported any crypto...

Autonomous vehicles and data ownership: drivers have rights too

Autonomous vehicles and data ownership is a thorny issue.  We are facing the reality that authorities in key markets, like the US and UK, have ducked out of answering the key question of who should own the data these vehicles generate.  By 2020 Business Insider Intelligence estimates there will be 10 million vehicles with self-driving functionality, so we do not have long to come up with a solution that will satisfy vehicle owners and manufacturers. The consequences if we fail are...

Open Garden launches ‘decentralised ISP’

Open Garden - decentralized ISP

Open Garden are looking to disrupt traditional, centralised ISPs be using a mobile app to grow a huge peer-to-peer network of users. By downloading the Open Garden app, users can turn their Android phones into hotspots and securely share their WiFi connections. The company aims to let people become their own ‘mini-ISPs’, with the goal being to compensate them with a cryptocurrency being launched in early 2018. The cryptocurrency will be an Ethereum token called OG, and users will earn...

Defence blockchain study authorised by Trump

Trump - defence bill - blockchain study

The new $700 billion military spending bill signed by President Trump also included a mandate for a blockchain cybersecurity research study. The bill, which was signed into law by Trump on 12 December, authorises the Department of Defence to look into the “potential offensive and defensive” cyber applications of distributed database and blockchain technologies. The study will look into three distinct areas: The current efforts by “foreign powers, extremist organisations, and...