Current Chairman of the Federal Reserve Jerome Powell recently revealed that he views the United States central bank as one of the key supporters of innovation in digital financial products. However, in the same breath he warned that certain technologies and innovations, including cryptocurrencies, embody certain risks that need to be addressed before wide spread adoption is possible.
On a daily basis, there is lots of digital development, enhancement and sophistication on the blockchain technology. Zero Knowledge protocol seems to be an age long idea that will create new dimensions, and extra layers of security and privacy to the blockchain through a no authentication system. It’s a landmark process because it will drastically reduce exposure and enhance the privacy of all and sundry.
Unlike now, when you browse through your social media, it reports your data back to a company, say Facebook or Google in the case of YouTube. With Dapps, your data is distributed among different blocks in the blockchain network, keeping you safe from being tracked by a single network.
The COVID-19 pandemic has had a prolonged and world wide impact on how health care works on a local and global level, exponentially accelerating the fusing of digital technology with medical care. Blockchain technology is one of the emerging innovations at the forefront of this evolution, due in large part to the technologies immutability, decentralisation, and transparency creating limitless applications across multiple domains ranging from electronic management of medical records, management of access rights, and aiding in the ability to provide mobile health.
Africa Blockchain University (ABU) is a non-profit institution headquartered in Port Louis, the capital city of Mauritius, dedicated to promoting and expanding the use of blockchain technology throughout the continent of Africa through policy advocacy, research, training, and project incubation.
Russia has officially entered into the crypto ring as news broke that the largest bank within the Russian Federation, Sberbank, has created a blockchain exchange-traded fund (ETF) tracking some of the biggest players in the blockchain industry. The fund, which is named Sberbank – Blockchain Economy, will reportedly trade on the Russian stock market under the ticker symbol SBBE and is the first such product to become available in Russia, giving locals the freedom to enter into the digital asset market without having to purchase, store, or sell tokens.
HashCash Consultants, a leading blockchain and cryptocurrency development company headquartered in the USA, has proposed and conceptualized a blockchain-powered pharmacology system to fight drug fraud. From unlawful kickbacks and large scale manipulation of clinical trials to outright fraudulence behavior targeting the FDA, failures to comply with good manufacturing practices, compounded drug fraud, and illegal drug switching, the pharmaceutical industry is regularly found to be engaged and targeted by fraud and illegal activities in a variety of ways.
Global banking juggernaut Wells Fargo recently announced that they will be utilizing blockchain technology for the very first time in a collaboration with HSBC Bank plc to run the netting settlement of matched foreign exchange transactions by using a shared settlement ledger to process US dollar, Canadian dollar, British pound sterling and Euro transactions with plans for future expansion already in the works.
Blockchain technology has started to permeate society in a variety of ways outside of being a leger for digital transactions. Recently, SLAFKA, the world’s first blockchain prototype for safeguarding nuclear materials, was awarded the third prize for Innovation in Global Security by the Geneva Centre for Security Policy under its Geopolitics and Global Futures program. Unveiled in March 2020, SLAFKA relies on blockchains immutable ledger to add layers of trust, efficiency, reliability, and transparency to the management and safeguards of nuclear material.
Riot Blockchain has been expanding at a rapid rate which is also visible in their quarterly earning reports and all eyes will be watching as they release their third quarter results this afternoon.