Blockchain technology news

As the world continues to shift from analogue to digital, people have started to go for new innovations that are still unexploited. Now, the health science students from the University of New Haven are trying to explore blockchain technology to solve industry problems. Scientists are working with a giant healthcare firm to test how distributed ledger technology (DLT) could play a significant role to address challenges that are currently hitting the healthcare sector.

The city of Berkeley, California, plans on issuing municipal microbonds based on blockchain technology. The Microbond Initiative is focusing on issuing bonds which are pocket-friendly – minimum of $25 – so that members of the community could directly invest in feasible public projects. The initiative is expected to proceed through a request for data that will invite the sector to bring forth qualified applications.

With all eyes now on revolutionary novelties including blockchain, bitcoin, and distributed ledger technology, the CEO of Goldman Sachs Group, David Solomon, believes blockchain tech is the new wave of the future, according to a recent report by Les Echos, a French daily newspaper.

The Reserve Bank of India (RBI) develops a blockchain-based platform for banking starting with its R&D branch. The distributed ledger tech (DLT) platform is going to host a wide spectrum of blockchain applications beginningovel  in 2020. The blockchain-powered platform will serve financial institutions including banks and will start with the RBI’s R&D branch. The new platform is generally for DLT use case for the government in financial banking.

Italy will add another major use case for blockchain tech in supply chain tracking. This time around, the technology will be used to track cod and artichokes. Bofrost, a startup dealing in frozen food products, has adopted to apply the EY OpsChain Traceability solution that is developed on Ethereum’s Blockchain. Among the two products to be traceable using this blockchain system are the Northern Cod Fillets plus the Artichoke Heart Slices, probably early next month.

The Italian professor who heads Consob, the government body responsible for regulating the securities market, revealed that for the country to achieve significant growth, joint action between the private sector and the Italian public is needed to stimulate alternative investments including cryptocurrency and blockchain technology.

The Central Bank of Italy, the government authority of Italy accountable for regulating the Italian securities market CONSOB (Italian Companies and Exchange Commission), IVASS (Italian Institute for the Supervision of Insurance) and the Ministry of Economic Development (MiSE), are trying to get the applications of financial technology (fintech), blockchain and artificial intelligence (AI) in the financial, credit and insurance industry off the ground but within specific rules and regulations.

Philippines Department of Trade and Industry (DTI) recently signed a Memorandum of Understanding (MoU) with a United States startup, Monsoon Blockchain Storage Inc., to enhance the effectiveness of the technology implementation.

Blockchain technology will be applied to tracking the rice supply chain in Italy and this will help promote sustainable agriculture.