Blockchain Weekly – May 11, 2020

With just a few hours left, the Blockchain and cryptocurrency industry is eagerly waiting for the mega event – Bitcoin Halving. Along with the anticipation come the never-ending speculations over the value of Bitcoin, whether it will shoot to the moon or fall flat? Nevertheless, Bitcoin is outperforming the S&P 500 as well as gold and is 21% up in 2020 to about $8,600. 

Increasing Adoption of Cryptos Across Developing Countries

In her three-part column on ‘how cryptocurrencies are used in the developing world’, Leigh Cuen writes how regions with weak states and educated diasporas see more grassroots adoption of cryptocurrencies. Citizens turning to crypto to store their wealth can be attributed to weak governments, unstable currencies, and fraught political environments. Lately, we have seen celebrities like Akon joining the cryptocurrency industry. Akon has placed his bet over African markets where cryptocurrency awareness and usage have increased drastically over the past year.

Blockchain To Make 5G Seamless And Convenient – China Telecom Chairman

In an interview published on the Chinese news portal, Cebnet, Jiang Wei, the chairman of China Telecom Blockchain and Dig­i­tal Econ­omy Joint Lab­o­ra­tory stated how blockchain would play a crucial role in trusted management, secure interaction, and efficient collaboration among multiple participants of the network and devices. According to Wei, blockchain will help realize 5G resource sharing and usage tracking, along with eliminating third-parties and improving international roaming services.

IBM Collaborates With 3 European Power Grids To Create Renewable Energy Blockchain Platform

Equigy, a new blockchain consortium created by IBM along with three of Europe’s electricity grid operators – Tennet, Swissgrid, and Terna aims to smoothen the transition to renewable energy sources by enabling sharing of charging data between consumers, aggregators and three energy providers in Northern and Southern Europe. The platform uses Hyperledger Fabric as an accounting system so that consumers charging their electric vehicles (EV) or using home batteries can interact with the three transmission system operators (TSOs). 

R3, Mastercard, and Others Team Up For Linux Foundation’s New Data Privacy Project

On 5th May, Linux announced the Trust over IP (ToIP) Foundation, a new cross-industry coalition that aims to provide a trusted exchange of data over the internet. Backed by governments, nonprofits, and private-sector firms, including Mastercard, IBM, R3, and the Canadian Province of British Columbia, ToIP aims to provide a trusted exchange of data over the internet and establish a global standard to ensure digital trust.

HDBank and DBS Bank Joins Global Blockchain Network Contour to Streamline Bank Credit for Corporates

Vietnam’s HDBank and Singapore-based DBS bank have signed on to blockchain trade-finance network Contour with an aim to digitize their end-to-end letters of credit settlement process through the platform’s blockchain solutions. The Contour platform is built on R3’s Corda to streamline transaction settlement processes. Contour will help these banks to reduce settlement time, decrease the amount of paperwork, simplify the trading process, and conduct real-time digital pre-issuance negotiations between applicants and beneficiaries.

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