Little by little, blockchain technology is beginning to appear around the house

From ecological seafood to Bored Apes, blockchain technology is making its presence felt in homes.

Blockchain technology is familiar to cryptocurrency users and national banks, and awareness of it is spreading fast to gamers. Applications in industry, particularly supply chain management, have been appearing as well. Through them, blockchain technology may improve domestic life in unseen ways, such as ensuring high-quality food, responsibly sourced seafood, or preventing the counterfeiting of pharmaceuticals. Nonetheless, the home may be blockchain’s final frontier. 

Blockchain penetration at the household level is so far quite low, but day-to-day utility was no afterthought for blockchain developers. Christoph Jentzsch, Simon Jentzsch and Stephan Tual, who in 2016 created The DAO — the short-lived first decentralized autonomous organization (DAO) — introduced Slock.it, “the first physical implementation of blockchain technology,” the same year. Slock.it technology connected devices on the Internet of Things (IoT), such as locks and payments systems, in a secure, non-intermediated manner that could be used, for example, for renting objects and property. In 2019, Slock.it was acquired by Blockchain.com, which continues to offer those services to this day. 

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From burrata to blockchain: How food and NFT are related

We find out over ‘glow in the dark dishes’ and sustainable eating

by Purva Grover

There are still a few of us who are wondering what are NFTs? These are non-fungible tokens, a unique digital file that’s stored on a blockchain network. Let’s dig deeper for clarity, shall we? Fungibility is an item that can be replaced by another identical one, and if something is non-fungible there is nothing with the same characteristics that can replace it. And NFTs are the buzzword, globally, and locally of course, with creators of all kinds exploring the ‘it’ thing. Interestingly, now NFT has entered the culinary world too. We find out.

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China’s blockchain ally joins Federal Reserve’s service provider showcase

Cypherium is the only blockchain company featured in the FedNow Service Provider Showcase for now, the CEO told Cointelegraph.


By HELEN PARTZ 

The United States Federal Reserve Banks are moving forward with a real-time payment project, the FedNow Service, allowing service providers to present their instant payment solutions, including those based on blockchain technology.

On Tuesday, the Fed officially launched the FedNow Service Provider Showcase, aiming to provide financial institutions and users with a range of services to help them implement FedNow Service, which launches in 2023.

At launch, the showcase includes more than 70 profiles and service providers that support instant payments, including Cypherium, a New York-based blockchain company, focused on instant payment solutions, blockchain interoperability and central bank digital currencies (CBDC). The platform is known for being involved in Chinese blockchain projects, including cooperation with Suzhou City Municipal for the city’s development of blockchain Infrastructure.

Other providers in the showcase include services like BNY Mellon Immediate Payments, Mastercard Track Business Payment Service and ePayments.

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JPMORGAN UNVEILS RESEARCH ON QUANTUM RESISTANT BLOCKCHAIN NETWORK

“QKD is the only solution that has been mathematically proven to defend against a potential quantum computing-based attack,” JPMorgan emphasized in its announcement. 

United States banking giant JPMorgan Chase has unveiled research on a quantum key distribution (QKD) blockchain network that is resistant to quantum computing attacks.

QKD utilizes quantum mechanics and cryptography to enable two parties to exchange secure data and detect and defend against third parties attempting to eavesdrop on the exchange. The technology is seen as a viable defense against potential blockchain hacks that could be conducted by quantum computers in the future. 

According to a Thursday announcement, JPMorgan collaborated with Toshiba and Ciena to deploy and test the QKD blockchain. 

“At this time, QKD is the only solution that has been mathematically proven to defend against a potential quantum computing-based attack, with security guarantees based on the laws of quantum physics,” the announcement read. 

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MARSHALL ISLANDS OFFICIALLY RECOGNIZES DAOS AS LEGAL ENTITIES

 

The Pacific island state, long keen to adopt blockchain technology, recognizes decentralized autonomous organizations

The Republic of the Marshall Islands has moved to formally recognize decentralized autonomous organizations, better known as DAOs, as legal entities — a move that gives collectively owned and managed blockchain projects formal recognition on the global stage. 

DAOs, which are blockchain-based entities governed by self-organizing communities, have attained legal recognition in the Marshall Islands after the country passed the amended Non-Profit Entities Act 2021. The amendment allowed cryptocurrency trading infrastructure platform Shipyard Software to incorporate the island country’s first DAO, Admiralty LLC. The incorporation was aided by MIDAO Directory Services Inc., a domestic organization that was established to help DAOs register within the Marshall Islands. 

As it currently stands, the new legislation allows any DAO to register and establish operations in the Marshall Islands. 

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Blockchain and Smart Contracts Have German Auto Dealers on the Fast Track to Financing

BY DAVID EDWARDS 

ChinaTechNews reports on April 4 that German auto dealers are using the Ethereum blockchain to get around bank bureaucracy, speeding up dealer credit applications.

German car dealers and distributors have found a new use for blockchains – acquiring and financing their customers quickly and with less paperwork than traditional bank loans.

Using Ethereum smart contracts – computer protocols that facilitate, verify or enforce the negotiation of an agreement – dealerships can provide their clients with immediate access to fiat currencies through dealer credit applications. 

But this family-owned dealership has embraced the blockchain by incorporating cryptocurrency into its auto finance services. The result? Shortening closing times on car loans using virtual money that’s seen a 1,400 per cent rise in value since January 2017.

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FDA: Blockchain-Based Food Tracking Bound for Widespread Adoption

By VICTORIA CAMPISI

A new rule could boost blockchain-based food tracking.

The rule, expected next November, would require the food industry to maintain records associated with the critical tracking events on the supply chain, according to Frank Yiannas, deputy commissioner for food policy and response at FDA, as reported by The Wall Street Journal (Feb. 1).

Events include growing, receiving, transforming, creating and shipping food products.

The Food Safety Modernization Act Proposed Rule for Food Traceability wouldn’t require companies to maintain electronic records. However, it is believed many would employ digital systems including blockchain to comply, Yiannas explained.

Blockchain is the distributed ledger technology supporting bitcoin and other cryptocurrencies. It is a decentralized technology spread across many computers that manages and records transactions.

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Opera Releases Web3 Browser to Let Users Seamlessly Link Crypto Wallets to Blockchain Services

Opera’s crypto browser will allow users to link wallets like Metamask, apart from its native crypto wallet that was launched in 2018.

By Shomik Sen Bhattacharjee

Opera’s new browser offers direct, frictionless access to Web3 services.

  • Opera has launched the beta version of its “Crypto Browser Project”
  • Opera’s Web3 browser features a news and data aggregator section
  • The beta is currently available for Windows, Mac, and Android

Opera, the team behind the popular multi-platform browser has now unveiled a new browser project which the company dubbed “Crypto Browser Project,” aimed at offering users direct access to Web3 services with beta versions already rolling out for Windows, Mac, and Android. With the crypto browser project, Opera intends to make it easier for crypto natives, as well as relative newbies to browse decentralised apps (dApps), access blockchain games and metaverse portals more seamlessly across platforms and devices.

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Altaeros partners with World Mobile to raise blockchain network to the sky

By Lindsey Schutters

World Mobile, the first mobile network built on blockchain and run by the people, partners with Altaeros, developers of the world’s first autonomous aerostats, to connect the unconnected.

Altaeros is focused on developing and deploying innovative infrastructure solutions

Through this partnership, Altaeros and World Mobile will provide low-altitude aerostats (tethered balloon platforms) with a coverage area of approximately 8 000 square kilometres each, forming part of World Mobile’s Dynamic Network.

Several aerostats will launch in Zanzibar anchoring the network and delivering connectivity near to 100 percent of the island. Each aerostat will connect hundreds of thousands of subscribers and each subscriber on the network will create a blockchain wallet. World Mobile will be deploying thousands of aerostats across the continent.

The aerostat system consists of a helium-filled envelope and stabilising fins. The unique three-tethered architecture limits the aerostat’s movement in the air (pitch, roll and yaw), which is essential in stabilizing telco coverage so connectivity doesn’t drop in and out.

The aerostat is attached to a movable mooring platform with built-in software that adjusts the balloon’s position depending on wind conditions. The onboard communication system, using beamforming technology (a technique that focuses a wireless signal towards a specific receiving device) will allow 3G, 4G and 5G handsets to connect directly and will also connect WM AirNodes in the vicinity via traditional and alternative spectrums.

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How NFTs Could Transform Property Investing

The sale of virtual lands happens daily in Decentraland, but a recent purchase by property investors took virtual land investment to a whole new level. According to Yahoo Finance, …

By NuWire

The sale of virtual lands happens daily in Decentraland, but a recent purchase by property investors took virtual land investment to a whole new level. According to Yahoo Finance, 259 parcels or 16 acres of digital land bought by Republic Realm cost more than $900,000, the most expensive purchase of NFT land ever. NFTs, also known as non-fungible tokens, have been a hot financial investment topic in the art industry. However, in recent months NFTs have become increasingly popular in the real estate investing sector. The ability to buy and sell property on blockchain-based platforms like Cryptovoxels and Decentraland indicates that blockchain is reshaping the real estate market. If you’re looking to invest in this blockchain-based real estate trend, read on to learn how NFTs could transform property investing.

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The United States will become the global crypto and blockchain leader

The United States is rapidly embracing decentralized finance, the cryptocurrency sector and the innovative industry of blockchain technology.

We have some great news coming out of the United States on the cryptocurrency industry this month with potentially more good news coming later this fall.

On Oct. 6, Gary Gensler, head of the U. S. Securities and Exchange Commission (SEC), confirmed during a House Committee on Financial Services hearing that the regulator will not ban cryptocurrency, potentially blazing the path for the world’s largest economy to become the global leader in the development of decentralized finance (DeFi) and blockchain technologies.

Gensler, who taught a class on cryptocurrency at MIT, also said that prohibiting cryptocurrency doesn’t fall under the SEC’s mandate and the only way to legally ban digital assets would be through Congress.

“It’s a matter of how we get this field within the investor consumer protection that we have and also working with bank regulators and others — how do we ensure that the Treasury Department has it within Anti-Money Laundering, tax compliance,” Gensler said. He also added:

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Blockchain will transform government services, and that’s just the beginning

Governments will not only use blockchain for fundamental services such as identity and voting but as a framework for economic growth. 

Governments are tasked with bringing fair and efficient services to the public. Unfortunately, providing transparency and accountability often results in a reduction in efficiency and effectiveness or vice versa. Governments are usually forced to choose to improve one at the cost of the other. On rare occasions, technology comes along that enables governments to improve fairness and efficiency.

The move from paper-based record keeping to computer databases was one such technology. The internet was another. Blockchain is the next. Like the internet before it, blockchain will not only improve how the public interacts with government services, it will have broad economic and social implications.

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