edeXa offers Security Token: In order to link its software solutions with blockchain technology, “io-market” founded “edeXa”, which will be one of the first companies worldwide to offer its thousands of existing customers the concrete processing of real transactions on the blockchain. The blockchain technology enables electronic invoices to be stored in a forgery-proof manner because manipulations of documents are immediately detected and prevented by dozens of decentralized servers. This high level of security without central intermediaries is one of the special advantages of modern blockchain technology. In future, orders, invoices, and all accompanying messages can be exchanged efficiently via the edeXa network. The blockchain makes it possible that no external service provider has to monitor these processes anymore, but the network relies on built-in, decentralized security mechanisms. In order to be able to finance this technological leap onto the blockchain, io-market has decided to sell its shares via the new, advanced Security Token Sales (STO) method.
Estonia is building a digital society thanks to blockchain: Estonia is one of the most advanced eGovernment countries. The Estonian government has experimented with blockchain implementations enabling citizens to use their ID cards to order medical prescriptions, vote, bank, apply for benefits, register their businesses, pay taxes and access approximately 3,000 other digital services. The approach also enables civil servants to encrypt documents, review and approve permits, contracts and applications and submit information requests to other services. This is an example of a permissioned blockchain, where some access is restricted in order to secure data and protect users’ privacy. Many economists also believe that by making use of a decentralized blockchain platform to oversee the nation’s public and private sectors, the Baltic country is all set to witness tremendous financial growth in the coming few months.
European banking authority calls for unity in crypto regulations: Two of the largest banking regulators within the European Union have released reports calling for uniformity in the regulations of crypto assets and Initial Coin offerings (ICOs) across the continent. The reports, which examines the sustainability of EU laws to cryptocurrencies, analyzed the use of digital assets within the EU, as well as some of the pan-EU laws that currently govern them. The European Banking Authority (EBA) decried the lack of uniformity in crypto laws. It stated that this lack of equilibrium means that companies can move operations to crypto havens and face less-stringent regulations.
Spanish electricity supplier tests blockchain: The Spanish utility “Iberdrola” has announced that it had used a blockchain platform to certify delivery of green energy to one of its corporate customers. In addition to offering clients blockchain-powered green energy, “Iberdrola” said it has also started using the burgeoning technology to facilitate wholesale electricity and natural gas trading, making it possible for agents to buy and sell energy without intermediaries. The company used a platform developed by Energy Web Foundation to provide real-time Guarantees of Origin for renewable energy delivered to Kutxabank, a bank based in Basque country in northern Spain, and Kutxabank’s south Spanish subsidiary Cajasur.
Supply chains: Blockchain will capture supply chains by 2025 elektroniknet.de
USA: Blockchain center opens in New York bloomberg.com
Switzerland: Blockchain on the slopes suedostschweiz.ch
Blockchain for Dummies: Deutschlandfunk explains deutschlandfunk.de
Lichtenstein: Unclear legal situation slows down Bitcoin machines de.cointelegraph.com
NUMBER OF THE WEEK
International banking giant HSBC settled 250 billion dollars of forex trades using blockchain technology in 2018. The company revealed the figure in a press release quoted by the “Financial Times”.
Blockchain in the public sector: A survey by market research firm “Gartner” found that 66 percent of CIOs in government agencies are interested in blockchain, but only 20 percent have planned to implement it. The hype around the blockchain is there, but the technology is often not mature enough. According to “Gartner”, there are many practical applications for the blockchain, which are currently being evaluated by states worldwide. Both elections and the storing of documents can be processed forgery-proof. Humanitarian aid would also provide a more effective delivery of services to poorly integrated populations in need.
Visiting an Ethereum mine: Cryptocurrencies are diligently mined in so-called cryptomines. The German news network “Deutschlandfunk” recently visited an “Ethereum” mine. Three rows of computers sit on metal shelves in a room in an industrial area in the Netherlands. The mine is run by investors Michel and Nico. Two and a half years ago, they started mining and specialized in “Ethereum” – the blockchain offers more technical possibilities than Bitcoin, as well as much more flexible Smart Contracts.
“Developments in technology provide opportunities for government to improve efficiency and transparency, cut red tape, and improve services for Vermonters.”
The US state Vermont wants to explore emerging blockchain technology and its use in the digital recordkeeping practices of the captive insurance industry.
Venezuela wants to fight inflation with cryptocurrency: Venezuela’s President Maduro has announced a new monetary system based in part on the country’s cryptocurrency, the Petro. From now on, state-owned companies will have to handle 15 percent of their sales with the Petro. The digital currency is backed by Venezuelan oil reserves and is aimed at the dollar and sanctions by the US and its allies.