11 South Korean Firms set to Launch Blockchain Based Identity Certification Service

South Korea, a developed country known for actively promoting the use of blockchain technology in various sectors like education, finance and many more. Now a consortium comprising of 11 major companies in South Korea is now commercially offering a Blockchain mobile identity certification service, named Initial.

The use of blockchain for issuing important Identification related certificates would ensure the safety of the personal data of users. The group was established late this fall and comprises of major tech firms like Samsung Electronics, and three other major telecommunication operators as well as few top tiers banks.

The consortium was created with a goal towards improvement of digital information services that are not just safe but also very easy to manage.

How Would new Blockchain-Based Identity Certification Service Work

The consortium would debut a mobile app in 2020, which customers can upload and download several certificates. The identity the customer will not be kept with any centralized body but on a blockchain, which would ensure that only the owner of the account can access their personal info.

The consortium is planning to offer at least 70 digital certificates via the mobile application. The use of blockchain for managing sensitive personal data has seen many use cases in recent times, and more countries are looking to implement similar use cases to protect the user’s privacy.

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Author: Hank Klinger

South Korea’s KT Corporation Is Going After Blockchain Tech with China Mobile

  • The new collaboration will be focused on integrating blockchain technology and 5G roaming.
  • South Korea’s Kakao Corporation has boasted that its own blockchain – Klatyn – is far superior to Facebook’s Libra.

KT Corporation is the largest telecommunications provider in all of South Korea, and they’ve decided to team up with China Mobile. In their new project, the twosome will be focusing on 5G roaming and blockchain technology, according to reports by The Korea Herald on December 5th. The launch of 5G roaming capabilities for Chinese citizens is scheduled by KT for late December.

While the companies prepare for the 5G launch, they are also working to establish a time-saving and cost-cutting blockchain system, which will be used in determining roaming charges for mobile customers. The Korea Herald reports that this new setup – known as the B.Link system – is made to “self-analyze roaming data from the two carriers and can process roaming charges on a real-time basis.”

About six months ago, KT had revealed that they’d already created their own blockchain network. Much like the collaboration, the KT Network Blockchain focuses on roaming, user identification, and other use cases. Prior to the announcement of the network, KT launched their Blockchain-as-a-Service, which helps South Korea firms access the technology with ease.

Both South Korea and China have been supportive of blockchain technology, as Cointelegraph has reported. After all, China hosted a publicity campaign in November, making  fintech a part of formal state policy. In South Korea, the Kakao Corporation recently stated that the new Klaytn blockchain has a much more advanced format than the controversial Libra token from Facebook.

A study published last year, referenced by CoinTelegraph, projected that blockchain technology stands to bring in $1 billion in added value for the telecoms sector in the next three to four years.

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Author: Krystle M

Blockchain Card Game to Be Launched by Eidos and Microsoft, Based On 1980s “The Way of the Tiger” Gamebook

  • Blockchain technology has been integrated to other online games as well, including F1 Delta Time and Gods Unchained.
  • The new game will be called Arena of Death.

Blockchain technology is being used in a substantial number of industries, and the gaming sector is revving up to combine this fintech with a retro gamebook. The Way of the Tiger, which was a best-selling gamebook in the 1980s, has earned recent attention from the Fabled Lands gamebook firm. Now, according to reports from Cointelegraph, Microsoft and Eidos are working with the firm to launch a blockchain card game, based on the gamebook.

The press release, which was published on Sunday, December 1st, states that the card game will be based on this best-selling book by Jamie Thomson and Mark Smith. Players will be able to engage in fantasy-based card battles in “Arena of Death,” the new title of this game. Features of the game will include details that were found in the original series.

Thomson, the CEO of Fabled Lands, chose blockchain tech as the basis for the new game because he believes that it provides better means for his goals within his program than what a traditional video game provides.

He commented, “We were going to relaunch the series in to a computer game format but this new technology (blockchain) just made more sense. Imagine playing Magic the Gathering but knowing, if you owned a card, it really does belong to you. Or if we say there are only 100 editions of an item or skill, you know there really are only 100 editions.”

The Vechain blockchain, which has been used in both supply chain management and the management of enterprises, will make it possible for gamers to use non-fungible tokens (NFT). In doing so, ownership of in-game items is easy to track. Thomson noted that the use of this blockchain will allow for in-game items and cards to be created, but “without having to deal with all the crypto stuff.”

There are many companies and games starting to integrate tokenized assets for games. Towards the end of November, F1 Delta Time recently auctioned F1 car-branded NFTs for their series. F1 Delta Time is known for their world-renowned Formula 1 racing series that ethey licensed.

A trading card game, Gods Unchained, is based on Ethereum, and they’ve managed to surpass the volume of CryptoKitties. Their surge past CryptoKitties correlated with a censorship problem with Blizzard, a game developer, leading them to nearly half a million NFT transfers daily.

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Author: Krystle M

New Cisco Patent To Secure 5G Networks Using The Blockchain Technology

Cisco, a giant from the network technology industry, has recently been awarded with a new patent by the U. S. Patent and Trademark Office. The new patent details how to use the blockchain technology to secure data in 5G networks. According to the document, which was first submitted in June last year, a blockchain platform can be used to integrate wireless networks.

The idea is that Cisco will manage the data sessions between the user’s device and the virtual network. This way, the patent describes how this platform could be used to support “network slices”, which are the architecture that supports several independent networks as they use the same infrastructure simultaneously. According to the filing,

“This service-oriented architecture supports network slices, which employ an isolated set of programmable resources that can implement individual network functions and/or application services through software programs within a respective network slice, without interfering with other functions and services on coexisting network slices.”

Cisco is far from being the first company to explore this niche. Several companies are starting to use the Internet of Things (IoT) technology together with the blockchain. Companies such as Bosch, Chronicled, BNY Mellon and Filament are all using the Hyperledger blockchain in order to protect their IoT products and achieve more decentralization and efficiency.

In related news, Cisco has recently started a new partnership with SingularityNet, an intelligence services provider. The partnership was made to decentralize AI systems and to improve their efficiency using the blockchain.

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Author: Gabriel Machado

Demand for Trained Blockchain Experts in China is on The Rise

The demand for blockchain technology experts in china is higher than the supply of such talents. The industry is offering a variety of job opportunities that require high qualifications in the field. Reports show that there are many job seekers in the field, but not many of them possess the requisite knowledge and skills required in the application of blockchain tech.

Many of the job seekers are just interested in the high salaries available in the blockchain field despite them not meeting the qualifications. This has led to the scarcity of employees in the industry as employers compete for the few qualified blockchain talents. Most of these employers are Chinese internet and entrepreneurial companies and require both technical and soft skills. Some require blockchain tech development engineers, product managers, and technology experts.

Salaries in the blockchain space range between 20,000 Chinese Yuan and 60,000 Chinese Yuan per month. An average salary in a blockchain-related job is about 16,000 Chinese Yuan, which converts to $2,322. Surprisingly, the average salary in the blockchain industry is about twice the country’s average salary, according to a recent report released by 8btc.

Technology cities in China are competing to hire the few fully qualified blockchain talents available in the country. The city of Guiyang issued a policy in 2017 that highly qualified blockchain talents to enjoy apartment treatment and living allowances. Hangzhou issued a 3 million Chinese Yuan subsidy in May 2018 to attract highly skilled blockchain talents.

However, the recruitment of blockchain enterprises has dropped by 53.68% after China’s regulatory authorities recently pressed too hard on cryptocurrency. For the same reason, the number of blockchain recruiters has also dropped by 51.71%. Despite these shortcomings, the number of employment seekers is 7.12 times the recruitment demand.

Blockchain talents are split into two fields; application development and the fundamental structure talents. These qualified programmers play a crucial part in the development of blockchain technology. Many of these talents have acquired their skills through self-study.

Over ten universities in China are currently offering blockchain-related programs. Tsinghua University has been offering blockchain courses that are yet to be made majors. A couple of colleges are also offering training programs on blockchain technology through cooperation with blockchain enterprises. Huobi, a leading crypto exchange in China, has also partnered with Xiamen University to train students on blockchain tech.

China will be investing heavily in training more blockchain talents in the future due to their high demand. This will be achieved through the establishment of blockchain research programs and training computer and information security personnel. There is also a need to introduce blockchain knowledge in management and finance majors.

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Author: Denis Miriti

Morocco Deploys the Blockchain Technology To Improve Its Financing Sector

Morocco is planning to boost its financial sector in the country through the deployment of blockchain technology. The Governor of the Central Bank of Morocco, Abdellatif Jouahri, announced during the Africa Blockchain Summit in Rabat that the country is in the process of applying technology to improve financial services. The implementation of this fintech project targets the underserved Moroccans as part of Morocco’s financial inclusion policy.

The blockchain tech, being the most influential tech currently, will help reach the underprivileged citizens in the financing sector. According to Jouahri, the adoption of fintech, including the blockchain tech will help the country offer “all businesses and individuals equal access to financial services and products in a bid to endorse social and economic inclusion,” says Jouahri.

The country’s central bank is already building low-cost business models that will see underserved Moroccans get access to financial services under friendly conditions for cashless transactions.

Recently, Morocco has been making strides in blockchain and cryptocurrency development. The country is also interested in decentralized ledger tech and has been making trials in the space. Morocco has partnered with international companies to use Quartz blockchain to make one-of-a-kind securities settlement between different central depositories. This project will be the first cross-border settlement in the world.

It was reported in September 2019 that Morocco had partnered with Soluna, an American bitcoin mining firm, to develop a 36-Megawatt cryptocurrency mining company. The investment project was a power purchasing agreement that would help the company establish itself in the region and expand its sales offshores in the next couple of years.

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Author: Denis Miriti

Alibaba Uses Blockchain to Participate in China’s Single’s Day Celebration, Generates $30 Billion in Sales

As the blockchain technology continues to grow and expand in different markets, many individuals and companies have developed an interest in the market. The blockchain industry is well established in the Chinese market. From being china’s favorite technology, it has expanded into a world success. Recently, a giant Alibaba used blockchain as it joined in the celebration of China’s Singles day this year. The Single’s day is celebrated on November 11 each year for the last past decade.

Alibaba is celebrating the Single’s day as a sales day together with happy singles as well as couples. During this year’s Single’s day, a couple of days ago, Alibaba generated sales amounting to $30 billion in one day, November 11, 2019. Apart from earning such a huge amount of money, the blockchain company set a precedent that will take shape in future celebrations of the Single’s day.

A fintech firm of Alibaba, Ant Financial, used the blockchain tech to offer ID verification, supply-chain tracking, and supply-chain financing solutions during the celebrations. This helped in the elimination of counterfeit goods in the market. The day was an ideal opportunity for the company to experiment with its blockchain understanding.

Hong Kong remains as an ideal market for Chinese technology companies to test their blockchain tech despite the protests. Early this week, a giant tech company Tencent announced that it would be rolling out a new blockchain-based virtual bank in Hong Kong. Tencent has already been registered under the Futures Commission and Hong Kong’s Security.

Hong Kong is trying to maintain the grips of its position as Asia’s fintech hub. However, the Chinese government is investing in other tech centers and mainland businesses such as Shenzhen. The government is trying so hard to starve Hong Kong to the extent that the island might soon witness a recession. Despite all that, Hong Kong is fighting to remain competitive and innovative to remain relevant in the tech industry. In May this year, Hong Kong began issuing licenses for virtual banks to leading technology companies such as Xiaomi and Alibaba.

Tencent will be rolling out a blockchain bank in Hong Kong after forming a JV with the Industrial and Commercial Bank of China. The new blockchain bank will offer an invoice-financing platform and a supply chain with McDonald’s. The virtual bank will have a huge customer-acquisition potential with the aid of Wechat, a platform used for all sorts of financial transactions.

As more blockchain-based banks are being developed, Alibaba might soon launch its blockchain online virtual banking solution. The company will ride on its advance e-commerce, its large market share, and its fintech firm, Ant Financials. The competition in China’s blockchain industry is a race towards fintech supremacy.

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Author: Denis Miriti

Blockchain Tech In China Is Booming, Even With Only 52% Of Top 50 Internet Companies in Support

As the blockchain technology continues to grow and expand in different industries, it has been received warmly in most of the sectors. In China alone, 26 of the leading 50 internet companies, about 52%, have ventured into the blockchain tech. These Chinese giant internet companies are helping in the promotion of its application and development. Only two of the top 10 internet companies have not embraced blockchain technology; ByteDance and Meituan.

Chinese leading internet companies like Tencent, Alibaba, and Huawei are related to blockchain technology in one way or another. Huawei and Tencent support blockchain coinless consortium, which currently targets hyperledger fabric while on the other hand, Alibaba invested in a blockchain project QEDIT through its firm Ant Financial.

About sixteen internet companies are taking part in the application of the blockchain tech, 6 in the research field and ecological services, 6 companies in the development of the infrastructure, and 13 companies participating in the development of the technology.

Progressive tech development and technical strength are requisite for the development of blockchain technology. Internet companies such as Xunlei have outstanding technical strength and can put that into better use in the development of the blockchain infrastructure.

Weibo, which is a blockchain-oriented social media platform in China, has been drawing much attention from the cryptocurrency industry over the past couple of months. Weibo, also referred to as lvzhou, to mean “oasis,” is the Chinese “Twitter.” Back in October 2018, the state’s media house People’s Daily Online launched a blockchain-based channel that focuses on providing information on the blockchain technology.

Social media, crypto mining, and games are the mainstream industries targeted for blockchain applications. However, internet companies in China also cover other fields such as medicine, public welfare, and traceability.

Most of the top high-tech Chinese companies are launching their blockchain-as-a-service solution. Going by the trend, blockchain is becoming compulsory for Chinese internet enterprises by default as many of these companies and entering into the blockchain industry.

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Author: Denis Miriti

Walmart Canada, DLT Labs Put Mission-Critical Freight and Payments On Blockchain In Real-Time

  • The blockchain technology will allow users to trace deliveries, handle payments, and more.
  • SVP of logistics, John Bayliss, stated that blockchain helps the company to reduce their impact on the environment.

Blockchain technology is easily one of the biggest innovations to arise in the last decade, especially considering the censorship-resistant and transparent ledger that it offers inside and outside of cryptocurrency. Supply chain management has benefited in multiple areas around the world, and a press release by Walmart Canada shows that the retail giant has rolled out their own blockchain-based network.

The network will be used in their payment management and freight tracking, hoping to improve processing. Users will be able to trace deliveries, while still verifying and handling payments, as well as reconciliation.

The press release adds that the network is set up in such a way that it can be used with the legacy system already in place. In doing so, it also,

“manages, integrates and synchronizes all the supply chain and logistics data in real time, aggregating the data between Walmart Canada and its fleet of third-party trucks on a shared ledger.”

The senior vice president of logistics and supply chain at Walmart Canada, John Bayliss, recently drew attention to how efficient that blockchain technology can be with so much inventory to maintain. Bayliss remarked,

“This new dynamic and interactive blockchain technology platform is creating complete transparency between Walmart Canada and all of our carrier partners. Blockchain is enabling a material advance in our smart transportation network, with expedited payments, extensive cost savings and other benefits among our supply chain.”

He also pointed out blockchain offers the company a way to reduce the impact that they make on the environment, supporting their “environmental sustainability” work. Walmart has consistently been proactive in their efforts to implement this fintech for the internal protocols they have, and they even announced the goal of using blockchain tech for the tracking of shrimp from India to their Sam’s Club stores in the US.

Walmart submitted an application for a patent on a blockchain-based drone communication system in August. The system, connecting vehicles to one another, would send messages, blend the networks for communication, and show the location and bearing of various machines.

Even with this progress, there are some entities that see major hurdles ahead of companies like Walmart and Nestle that are taking on blockchain systems, but it has nothing to do with the technology. Instead, it is the “illusion of traceability,” as Craig Heraghty states. Heraghty, an agribusiness leader at PwC, states that physical points of entry aren’t guaranteed to be foolproof, even if the data on the record cannot be changed.

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Author: Krystle M

AlphaPoint’s Digital Asset Exchange Software To Roll Out Crypto Margin Trading

AlphaPoint, a crypto software and technology provider, announced at the CoinDesk’s Investment NYC conference that it would be launching margin trading for its clients. By utilizing its software, the technology provider will be supporting margin trading with a range of trading options and control over crypto exchanges and brokerages.

Margin trading is when an investor buys a security, in this case, a cryptocurrency, using borrowed money. Margin trading is becoming prevalent and popular in the crypto industry. Most of the popular leading exchanges are implementing the feature. Bakkt, Kraken, and Coinbase’s trading platform have the feature. Binance also launched margin trading in July 2019.

According to Patrick Shield, the spokesman, AlphaPoint’s platform can be customized to serve the clients trading in different regulatory regimes and markets better.

“We have created a highly configurable platform, and there will be no need to create a one-size-fits-all model. The platform has configurable leverages, minimum deposit, liquidation levels, sizes, and fees. It will also require approval workflow for the end users,” said Shield.

During the launch, the company said that clients are yet to implement AlphaPoint’s margin trading. However, according to a recent press release, a number of firms, including Canadian cryptocurrency trader National Digital Asset Exchange (NDAX), are already beta testing the new platform.

The founder and CEO at NDAX, Bilal Hammoud, said in a statement that he is excited and longing to partner with AlphaPoint. “The partnership will introduce BTC to CAD margin trading to the crypto industry, allowing investors to enjoy a technologically advanced, compliant, and secure platform,” said Hammoud.

Margin trading, however, comes packed with its pushbacks. Some countries across the world are discouraging crypto margin trading and have even placed strict control policies around the policies like it is the case in Japan.

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Author: Denis Miriti