#1 Source for BlockChain News

Category archive

ticker

Walmart

Walmart Submits Patent for Drone System Based On Blockchain

Walmart Inc (NYSE:WMT) has felt the convenience of blockchain and is not looking to back down soon judging from its latest patent application submission for a drone communication system anchored on blockchain technology. The patent application submitted to the United States Patent and Trademark Office (USPTO) early this month, dubbed “Cloning Drones Using Blockchain,” shows the retail giant’s commitment in adopting blockchain technology for most of its operations.

According to the details of the filing, the drone-based communication system codes and stores the drone’s crucial operational parameters in decentralized ledgers. The data can be accessed by other drones under the same network that will then decipher and configure the encryptions. Aside from relying on crucial information, the system allows the unmanned drones to know each other’s exact location at every particular moment of flight.

Unmanned Aerial Delivery

Note that the latest patent filing is not the company’s first attempt in blockchain technology, particularly in the field of Unmanned Aerial Vehicles (UAV). Walmart’s venture into blockchain technology began back in 2017 when it filed a patent for an “Unmanned Aerial Delivery to Secure Location.” The package delivery system will enable drones to share information relating to flight routes, Identification numbers, Speed, battery information, flight heights, and loading capacity, among other details. According to the filing, the system will be popular for safeguarding data integrity, considering that information stored on blockchain decentralized ledgers are incorruptible.

>> Ripple to Invest 1 Billion XRP to Fund Online Content

Walmart-IBM Partnership

Additionally, Walmart partnered with American tech titan IBM (NYSE:IBM) for a blockchain-based deliveries tracking system. The futuristic system has since been adopted by the US Food and Drug Administration in the tracking of prescription drugs. Merck and KPMG are also interested in the system. The system that was initially designed to identify and flag recalled foods is already being used to track meat deliveries in China and in the US.

Like Facebook (NASDAQ:FB), Walmart is also interested in having its own cryptocurrency and has already submitted another patent for this.

Featured image: DepositPhotos © nils.ackermann.gmail.com

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Coinbase

Barclays Ends Partnership with Coinbase

Once hailed as the most prestigious banking relationship in crypto, Barclays (NYSE:BCS) has today decided that it is no longer working with Coinbase.

The relationship between the London-based banking giant and the crypto exchange began in March last year as Coinbase sought to expand into Europe. The aim of the deal was to make it easier for businesses in the UK that handle cryptocurrency to gain access to banking services. Currently, three-quarters of UK businesses that deal with cryptocurrency are forced to look overseas for banking options as the majority of major banks in the UK tend to stay clear of anything crypto-related.

Earlier this week, news emerged that Coinbase had dropped support for Zcash (ZEC).

Why has Barclays Walked Away?

While last year’s news that Coinbase had obtained a bank account with Barclays was greeted with some degree of fanfare, the bank’s appetite for risk has been sated of late. “It is my understanding that Barclays’ risk appetite has contracted a little – I’m not sure exactly why or what’s been driving that, maybe there has been some activity they are not happy with. But it’s about Barclays’ comfort level with crypto as a whole,” said one UK-based crypto CEO.

What Next for Coinbase?

It’s not all bad news for Coinbase, however, as the exchange was immediately picked up by ClearBank, one of the many “challenger banks” that has launched recently to compete with the market leaders. This partnership will allow Coinbase to restore its Faster Payments Scheme (FPS), which allows users to instantly withdraw and deposit pound sterling at the exchange. This will ensure minimal disruption for UK customers who used Coinbase via Barclays.

>> South Korea’s Shinhan Bank is Building a Blockchain Security System

What Does This Mean for the Crypto Market?

This news comes during a week that has seen faith in the security of cryptocurrencies vastly diminished. Following news that crypto criminals had defrauded over $4 billion in 2019, and another fraud scandal emerging from Veritaseum, Barclays decision to end its partnership with Coinbase is another blow of confidence in the security of cryptocurrencies.

Big banks are clearly keeping cryptocurrency at an arm’s length, but that hasn’t stopped large companies and venture capital funds from pouring money in, with company’s such as Facebook (NASDAQ:FB) and Walmart (NYSE:WMT) recently announcing their own cryptocurrencies.

Featured image: DepositPhotos © dennizn

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

cryptocurrency

China to Release Its Own Cryptocurrency Soon

Cryptocurrency may have been completely unknown for most people around half a decade ago, and most of the banks in the world did not even take it seriously. However, things have changed dramatically over the past few years, and many banks are now considering the possibility of launching their own digital currencies.

Facebook (NASDAQ:FB) announced its own cryptocurrency last month, while American banking giant J. P. Morgan (NYSE:JPM) has come up with its own as well, and in a new development, it has emerged that the Chinese central bank is close to releasing its own. According to the report, a senior representative of the People’s Bank of China (PBOC) has stated that the bank is now close to launching its own digital currency.

Key Details

The deputy director of the payments department at the PBOC, Mu Changchun, stated that the cryptocurrency that the department has been working on is now almost ready. It is a significant development and one that could have far-reaching consequences for the crypto sphere at large. It is believed that the PBOC’s researchers have been hard at work with regards to the digital currency for around half a decade. The central theme of the research was to come up with a currency that could be used as a substitute for cash. In this regard, it is interesting to note that there are other central banks that are exploring similar possibilities.

>> Ethereum Underperforms Against Bitcoin: What Next for Altcoins?

Reports suggest that the issuing authority in the case of these digital tokens is going to lie with both the PBOC as well as the various commercial banks in the country. That being said, the PBOC has been a bit vague regarding the technology that is being used to produce the cryptocurrency. The central bank stated that it is not going to be solely dependent on blockchain technology in order to produce the coin. In fact, it is open to the idea of exploring the usage of other technologies.

Featured image: DepositPhotos © iqoncept

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Amazon Advertising Blockchain

Amazon is Building an Advertising Blockchain

According to CoinTelegraph, Amazon (NASDAQ:AMZN) is on the hunt for a software development engineer to develop an Amazon advertising blockchain. The world’s largest online retailer posted a job offer on LinkedIn and reportedly is in need of a development engineer for the new advertisement blockchain.

Here’s what we know.

Amazon Advertising Blockchain

The hire will join Amazon’s Colorado team. The goal of the advertising blockchain is to grow the advertising arm of Amazon’s business.

The job posting reads as follows:

“Our new team in Boulder, CO is looking for a Sr Software Engineer to work within our Advertising FinTech team focused on a Blockchain ledger, billing and reconciliation systems to provide data transparency on transnational financial data.”

The company is planning on leveraging its online retail data, industry-leading cloud services, and fast-moving startup culture.

What’s in the Role?

The role of the engineer includes “requirements analysis, lead design, implementation and deployment of core components, interfacing with engineers and program managers. The position will also be responsible for the operational support and maintenance of the systems.” As such, the role is a big one and requires the candidate to have a background in blockchain development as well as experience in advertising and financial technology.

Furthermore, the engineer will also “have an opportunity to define the technical and architectural roadmap for the systems.”

Amazon Advertising Blockchain

The job posting has spurred on excitement, as it is another step forward for blockchain adoption by the major retailer.

Back in June, Amazon announced a partnership with British insurer Legal & General (OTC:LGGNY) to develop a blockchain system.

>> ECB Boosts Crypto Surveillance to Monitor the Market Closely

On June 11, Reuters announced that the multinational insurer was going to work with Amazon to create a blockchain system specifically for corporate pension deals. The blockchain in question would be developed from the Amazon Web Services blockchain creator called the Amazon Managed Blockchain (AMB). It aims to process bulk annuities.

Amazon’s AMB is designed to easily create a blockchain network that is simple and scalable to manage. It uses Hyperledger and Ethereum open-source frameworks.

What do you think of the Amazon advertising blockchain?

Featured Image: DepositPhotos © dennizn

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Mastercard

MasterCard to Build Crypto and Wallet Products

MasterCard Inc. (NYSE:MA) is planning to venture into the cryptocurrency space with a focus on creating a crypto team of 28 cryptocurrency professionals that will spearhead the development of cryptocurrency and wallet products.

Recruiting of Crypto Experts

On MasterCard’s website, under the career tab, the company notes that it is seeking individuals who will fill the positions of senior blockchain engineer and engineering lead, vice president for product management, product innovation, and development director and product management director for cryptocurrency and wallets.

Equally, there are other senior roles that the company is seeking to fill that also require blockchain tech expertise, such as the director of payments platform and networks, VP of network tech product management, and senior strategic program management analyst, among others.

MasterCard’s requirement for hiring personnel for any of the advertised roles is that candidates have expertise in cryptocurrency and blockchain technology’s operation and functions. The company has indicated that for one to qualify for roles, they have to be aware of the evolution of cryptocurrency as well as have a good command over digital currencies.

The cryptocurrency team will be based in San Francisco, where the company will establish a blockchain headquarter. The team will have the responsibility of advocating blockchain tech concepts within the company.

>> Litecoin (LTC) Gains Momentum Post Halving, Jumps 7%

MasterCard to Compete with Facebook’s Libra

MasterCard is already embracing cryptocurrency and blockchain and is already a member of the Libra Association. Therefore, any progress the company will make in harnessing cryptocurrency will be a major milestone to the Libra Association, which is comprised of 27 companies. The move by the company to create a cryptocurrency team will benefit the planned launch of Libra, as well as being good competition for it.

The launch of Libra delayed after Facebook Inc. (NASDAQ:FB) cited regulatory hurdles as regulators enhance regulatory scrutiny. Libra is also recruiting professionals for its wallet Calibra but has vowed that it will allow free wallet competition from members of the association.

Featured image: DepositPhotos © jbk-photography

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Go to Top
%d bloggers like this: