JPMorgan has cleared that JPM Coin is not a cryptocurrency, which can be used for trading purpose, rather it is a stable coin created for payments processing and settling debts within JPMorgan Chase. Umar Farooq, JP Morgan’s head of digital treasury services and blockchain, has linked the launch of the coin to the firm’s decision to meet its customers’ demand for a secure and instant payments processing platform.
Symentec has reported that crypto mining apps were found on Microsoft’s app store, which allowed illegal mining of Monero. The app store consisted of eight illegal apps named as Battery Optimizer (Tutorials), VPN Browsers+, Downloader for YouTube Videos, Clean Master+, FastTube, Findoo Browser 2019, and Findoo Mobile & Desktop Search. Though the number of infected computers has not been reported, the company has taken down the apps from its app store.
Hyundai has announced that its financial services subsidiary, Hyundai Commercial, has selected IBM to build a new financial supply chain ecosystem utilizing Hyperledger Fabric blockchain. As per sources, Hyundai Card, another financial services subsidiary of Hyundai, will also be joining IBM to implement Machine Learning and develop Artificial-Intelligence based Chatbot for support services.
J.P. Morgan has announced the launch of America’s first digital coin, dubbed as JPM Coin, that represents the U.S. Dollar. The firm has disclosed its plans to extend the virtual coin to other currencies in the coming days. Built on Quorum, an enterprise grade Ethereum blockchain, JPM Coin allows users enjoy instantaneous transfer of payments between institutional accounts, along with ensuring confidentiality and security from potential frauds.
Samsung SDS, the IT arm of South Korea-based Samsung, has launched an application intended to speed up blockchain transactions. The Nexledger Accelerator technology has already been successfully tested on Hyperledger Fabric, an open-source enterprise blockchain platform developed by the Linux Foundation. The technology was first unveiled in April 2017 and will be added to the IBM Blockchain Platform Board, as said by SDS.
Symbiont.io, a developer of smart contracts, has received a funding of £15.29 Million during its series B financing round. The list of investors included big names such as Nasdaq Ventures, Galaxy Digital, Raptor Group, and Citi. As stated, along with funding, Nasdaq is looking forward to using Symbiont’s enterprise blockchain and smart contract platform for its clients, who are exploring for smart contract and tokenisation solutions.
After seeing the agricultural shift towards blockchain, sugar traders have started showing their enthusiasm for the distributed ledger technology. With an intent to study the scope of blockchain in the sugar industry, Jamal Al Ghurair, Managing Director of UAE-based Al Khaleej Sugar, had invited the industry’s stakeholders for a meeting held in Dubai. The participants included ABN Amro Bank NV, and Societe Generale SA, and Consensys, a blockchain startup incubator.
Blockchain is surely not all about Bitcoins only. In just a few years, the nascent technology has created a dent in every industry. It has already found applications in healthcare, supply chain management, banking and finance, agriculture, retail sector, etc. ensuring security and transparency. It has successfully helped in reducing frauds in various sectors by issuing […]
The Government of China has released ‘Guiding Opinions on Rural Service Revitalization of Financial Services’, to encourage mass adoption of blockchain in the agricultural financial sector. The new framework has been formulated to streamline financial services in rural areas with blockchain; for improving identification, monitoring, and early warning; and reducing the farmer-specific agricultural credit risks.
Globsyn Business School, an AICTE approved B-school in India, has announced that it will issue blockchain-based digital certificates, accessible from anywhere in the world. To achieve the goal, GBS has selected Certy platform, built by Somish blockchain startup, to issue untamperable and instantly-verifiable degrees on blockchain. The solution is claimed to eliminate the need for background verification of students, thereby saving a lot of time.