Adoption is sweeping the blockchain industry. The trends that are emerging from the weekly blockchain and crypto news coverage indicates that in the next decade people will be heavily relying on blockchain technology without ever realizing it.
VeChain continues to excel in bringing supply chain onto blockchain. This week’s announcement about FoodGates moved the needle in food safety using blockchain.
Our page on IMPORTANT blockchain and crypto news tracks all the developments that are forming the foundation for a blockchain future since 2017.
VeChain showcases First Cross-continental Logistics and Trades Solution; China President Xi Jinping
“VeChain announced a tripartite collaboration with ASI Group to initiate the first cross-continental logistics and trades solution powered by the VeChainThor public blockchain for food & beverage industry named Foodgates.” VeChain in joint collaboration with DNV GL and ASI Group has developed FoodGates, the first cross-continental logistics and trade solution for the Food and Beverage industry. Chinese President Xi Jinping along with China delegation was in attendance to at The China International Import Expo 2019 (CIIE). President Xi Jinping “had a tasting session of the Limousin Label Rouge Beef from Limousin Promotion introduced by President Macron.” VeChain is among the top supply chain projects in the blockchain space.
RUSSIA: Ministry of Internal Affairs will develop a mechanism for the arrest and confiscation of cryptocurrencies
According to a Google Translated news from Russia’s news outlet, Russia’s Ministry of Internal Affairs is working on developing a framework to give the legal basis for the authorities to confiscate cryptocurrencies. The proposals are expected to be drafted by December 2019. “The trend of a constant increase in the number of crimes using virtual assets, the insecurity of individuals from this type of criminal encroachment, of course, dictate the need to develop mechanisms for legal regulation and control over the circulation of virtual assets,” says Alena Zelenovskaya, head of criminal and administrative law practice at NSA Amuleks.” While countries like Switzerland and Singapore are broadening their legal framework to enable FinTech space, Russia is thinking into the future to create proper legal basis to prosecute the crypto criminals.
Coca-Cola bottlers and SAP to bring 21 billion-a-year supply chain operation to Blockchain
According to Business Insider, Coca-Cola and SAP are bringing transparency to a 21 billion-a-year supply chain using blockchain. This move is expected to improve transparency, operational efficiencies and faster transactions while keeping data security intact among the bottling franchisees. This move brings over 70 franchises and 160,000 transactions a day on to blockchain.
According to the Business Insider article, “what we achieved here with blockchain is creating a document flow across the supply chain,” said Torsten Zube, the head of the SAP Innovation Center Network. Coca-Cola currently ranks 100 on the Fortune 100 list and is among the Fortune 100 companies using blockchain technology in their businesses.
China launches blockchain-based identification system
Blockchain and China are appearing together more often now. According to Global Times, “China has published an independently developed identification system for cities as part of the smart city infrastructure based on blockchain technology, the Xinhua News Agency reported on Sunday.” While American politicians are busy spreading FUD about blockchain and cryptocurrency, China has been busy integrating blockchain into its smart cities initiative. The recent move to digitize China’s currency was viewed as a threat to the US Dollar’s dominance, so much so that, Mark Zuckerberg used that as a justification to appeal to US congress to allow the Facebook’s Libra. In fact, according to CNBC’s article, China-Russia and some European Nations are actively taking steps to move away from the US Dollar.
eToro acquires crypto portfolio tracker Delta
Delta, one of the most popular crypto portfolio trackers, has been acquired by eToro. This is part of eToro’s strategy to accelerate its penetration into the crypto space. eToro’s Crypto platform allows users to buy and sell cryptocurrencies. They also have ‘copy trader’ feature that allows investors to follow other successful traders. Yoni Assia, co-founder and CEO of eToro, in a statement said, “We are a trading and investing platform that not only provides clients with access to the assets they want, from commission free stocks and ETFs through to FX, commodities and cryptoassets, but also lets customers choose how they invest. They can trade directly, copy another trader or invest in a portfolio. We believe in empowering our clients and the acquisition of Delta will allow us to add an important new element to our offering.”
Buy Starbucks with your Bitcoin in 2020
Bakkt is ramping up its digital assets based payment facilitation efforts. In a recent post, Bakkt announced that users will be able to use their digital assets at a Starbucks store. Mike Blandina, Bakkt’s Chief Product Officer wrote in a medium post, “Billions of dollars in digital assets exist today across the world, such as bitcoin, cashback and rewards, in addition to other forms of digital value relied upon by consumers and merchants. A key feature of the model we’ve designed is to support a superset of digital assets, including cryptocurrencies, as seamlessly as investors transact in stocks in a retail brokerage account. Our vision is to provide a consumer platform for managing a digital asset portfolio, whether they wish to store, transact, trade or transfer their assets.”
Tunisia issues Digital Currency backed by Fiat
“Tunisia was the first country to announce the transfer of part of the country’s money supply to electronic form,” reads the Google translated news on Tunisia digitizing its dinar. Universa is helping Tunisia’s efforts to digitize its National currency. “Electronic banknotes cannot be faked – each such banknote, like the paper version, is protected by cryptography, it, like the paper counterpart, has its own digital watermarks. And the production of such a banknote is 100 times cheaper than wasting ink, paper, electricity for the printing press, “says Alexander Borodich, founder and CEO of Universa. Tunisia joins other Nations (including China, Marshall Islands) who are eager to digitize their currency to bring transparency and accountability using blockchain technology.
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