Main Weekly Blockchain News

The first week of December is coming to an end, and here is our first winter digest.

We have collected all the hottest events and novelties from the blockchain industry to keep you warm and always in the loop.

China Going Forward to Their First Free trade Zone

Chinese island-based province Hainan is implementing a set of measures to speed up the development o the first free trade zone (FTZ), supporting the development of blockchain startups in the region. On the press conferences, held on December 4th, South China’s Hainan Province stated the highest importance of the blockchain industry development for the overall evolution of the economic and technological sphere in the region.

For now, the project budget consists of 142 million US dollars that will be distributed to support developing blockchain businesses. This project aims to support businesses and organizations in the following spheres:

• Healthcare,
• Tourism and traveling,
• Trading,
• Housing,
• And farming.

Moreover, this project will stimulate the development of the region through social investment, talent generation, technological transformation and much more.

A pilot blockchain zone is already functioning the basis of Based in the Hainan Resort Software Community (RSC), an internet industrial park, since its foundation in October 2018. It is the first officially authorized blockchain zone in China, which already accumulated over 100 various blockchain companies, becoming the most rapidly growing blockchain cluster in China.

Hainan blockchain zone project already has an action plan titled “Secure, Sharing, Compliance+” (SSC+) that will work on the elaboration and integration of secure data sharing and digital governance, using advanced technologies, such as big data and blockchain. This project has already evoked international interest: Dubai Blockchain Center signed an agreement of strategic cooperation with the pilot blockchain zone. Chinese government institutions, namely The Ministry of Industry and Information Technology has also supported the FTZ development.

IBM and VetBloom Collaborate On a New Veterinary Learning Credential Blockchain

IBM, the leading enterprise blockchain provider, collaborates with VetBloom to integrate blockchain technology in the veterinary learning system. Two companies have formed a group focused on the elaboration of a competency-based learning system for the medical industry.

VetBloom, the digital learning ecosystem founded by Ethos Veterinary Health, provides platform-based learning courses for veterinary specialists and is currently going through the shift towards micro-credentialing in the education process and competency-based learning. As a response to these market changes, accredited Colleges of Veterinary Medicine in the U.S. elaborated are competency-based learning frameworks, and large private hospital groups already investigate new skills-based credentials that will lead to labor stratification improvement together with scheduling efficiency and optimized recruiting processes.

To meet all the aforementioned requirements, VetBloom joins a broader team of academic and professional leaders within the industry of veterinary medicine that will apply blockchain technologies to support learning credentials. IBM is now working on a new solution for a permanent and auditable record of the learning process for medical skills certification. Thus, job applicants will be able to easily connect with the employers, while companies will get easily information about verified skills of the applicants.

The elaboration process has started over a year ago, and for now, the group consists of members of the following organizations:

• The Association of American Veterinary Medical Colleges (AAVMC),
• The International Council for Veterinary Assessment (ICVA),
• And the American Animal Hospital Association (AAHA).

For now, IBM representatives are satisfied with the working process and initial achievements of their collective work with VetBloom, and they will proceed with their work in 2020. Namely, Alex Kaplan, IBM’s Global Leader, Blockchain and AI for Credentials, stated that their cooperation with VetBloom was “incredibly rewarding” during 2019. The group has already presented a minimum viable product, and they are already working on the development of the second iteration.

For 2020, the primary goals can be defined as network scaling through group enlargement, attracting new specialists and organizations, and further development and tuning of an equitable structure of the government.

Walmart Integrates Blockchain-Based Freight and Payment System

Reaching a new stage in FinTech and e-Gov systems development, blockchain-based solutions expand their impact in supply chain and transportation. In particular, Walmart Canada has recently launched a new solution for freight tracking and payment processing that currently covers over 70 transportation companies, delivering goods to over 400 retail shops.

For now, this is probably the largest blockchain network of the kind in the world, and it is already functioning within the whole Walmart Canada, while third-party freight carriers to be added by February 2020. This distributed ledger network called DL Asset Track has been created in partnership with Canadian-based DLT Labs, and it automates carrier tracking and invoice creation, using GPS and IoT sensors. It is also possible for operators to add information manually through the web portal and mobile app.

This network is based on an iteration of Hyperledger Fabric — an open-source permission blockchain platform with enterprise-level functioning. Blockchain ledger can connect to Walmart and carrier legacy data systems (SAP ERP and accounting systems), known as “oracles” through the set of APIs.

Thus, this system increases data accuracy of various data, such as vehicle timetable, matching it with IoT and GPS data that are automatically uploaded to the system. It will potentially save a lot of time and increase the quality of provided transportation services and supply chain invoices.

Smart food Platform Launched by the Second Biggest Food Company in China

Bright Food Group, the second-biggest food firm in China, has recently rolled out its blockchain-based solution for product import in the country. It is called The Smart Chain, combining supply chain and blockchain in one term.

Platform accumulates various food products and companies from different industries, providing them with a broad set of functions, such as information management, finance, and data management. This solution will for sure help Bright Food Group with their product import, transportation, and data verification, as now this company has a series of overseas channels requires additional verification of their supply channels for better visibility and record distribution throughout the country.

The solution has been developed in cooperation with Chinese IT company eCOM Asia with the application of their Trade Platform and Registry Blockchain. eCom registry is a blockchain-based platform, providing data visibility and across all supply channels, while eCom Trade Platform is an integration solution for cross-border trade. Though the application of the aforementioned tools, Bright Food Group is presenting a new solution for big food supply networks that are dealing with the optimization of their overseas channels.

Have a great weekend!