Blockchain Weekly – April 27th, 2020

Biggest news in blockchain

Last week marked the celebration of the 50th anniversary of Earth Day, as a number of industries turn their heads towards blockchain to address one of today’s largest global threats: climate change. Many blockchain companies are bringing innovations to contribute towards a carbon-neutral world, for instance – Everledger is leveraging blockchain technology and emissions data generated from the diamond industry to offset its carbon footprint.

Chinese State-owned Bank offers Test Interface for CBDC

One of China’s four state-owned banking giants, the Agricultural Bank of China (ABC) has developed a front-end interface of how users could potentially interact with China’s CBDC (also called DC/EP). The rollout of a pilot for China’s digital yuan initiative hints at the acceleration of China’s wider efforts to test out the digital currency. Many notable names including  McDonald’s, Starbucks, Subway, JD Supermarkets, etc are said to be involved in testing China’s central bank digital currency in the country’s Xiong’An district.

Dutch Central Bank Wants to Be Leader in EU’s CBDC Development

The De Nederlandsche Bank (DNB) is all set to lead Europe’s efforts to study and develop a digital euro. The detailed report from the central bank stated that only one-third of all the transactions by Dutch people are made in cash and the regulators believe that the benefits of smart contracts in the development of a CBDC can fill this cashless gap. The effort has made DNB the first monetary regulator in the Eurozone to start developing a central bank digital currency (CBDC).

EU Parliament Wants COVID-19 Contact Tracing to be Decentralized

In an effort to ensure data privacy, the European Parliament demanded that contact tracing apps store data in a decentralized manner. The EU parliament recommended a common EU approach for the use of contact tracing apps by stating that any applications developed by government authorities may not be obligatory to use, and the data must not be stored on centralized databases. 

IBM’s Blockchain Tech Helps NYC Hospitals Amid COVID-19

New York-based healthcare group, Northwell Health comprising over 800 hospitals, has joined IBM’s blockchain-based network of buyers and sellers of coronavirus relief provisions. IBM’s blockchain Rapid Supplier Connect network is devoted to assisting and vetting suppliers providing emergency goods needed for coronavirus relief efforts. Rapid Supplier Connect network includes digital identity services to streamline supplier vetting, and offering emergency supplier onboarding. 

Coinbase Enters DeFi space with Price Oracle Launch

On 23rd April Coinbase unveiled a data feed for cryptocurrency prices with an aim to fix the broken DeFi industry with stable price oracles. Coinbase Price Oracle pulls data from Coinbase Pro on the exchange rates for both bitcoin and ether against the U.S. dollar and can also be pulled into blockchain systems and paired with other data feeds for use by DeFi projects to carry out functions such as lending, margin trading, collateral liquidations, derivatives.

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