Last Month In Blockchain — February 2019
The latest blockchain buzz of February
Two months into the new year and here we are. As anticipated, more alliances, partnerships and new ventures continue to form as more blockchain based initiatives arise. It makes sense; A total of $1.5 Billion has already been spent by companies on blockchain technology like Ethereum & Hyperledger as of October 2018 — as reported by IDC. By 2022, we can expect that number to reach $11.7 billion. Companies aren’t the only invested parties, as last month (February) has seen much more government involvement with the implementation of this technology. None the less, despite the long road ahead, we are one step closer to approaching a transparent, trust-less, blockchain-based society we can all rely on.
Without further ado, here is the latest blockchain buzz of February:
1. Canada: Blockchain Association Merges with Chamber of Digital Commerce
Canada’s largest blockchain trade association, the Chamber of Digital Commerce has united with the Blockchain Association of Canada as an effort to merge. Tanya Woods, the current executive director and policy strategist of BAC will be serving as the managing director of Chamber of Digital Commerce Canada. Woods stated in a press release: “Canada’s blockchain leaders and government would like to see a strong and coordinated blockchain ecosystem that is ready and able to effectively collaborate with policymakers to ensure the industry in Canada will thrive.”. Don Tapscott, executive chairman of the Blockchain Research Institute believes that Canada is well positioned to become a global leader in the blockchain industry. Tapscott stated: “It is critical for Canada to have a unified local community driving blockchain adoption…”.
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2. Bank of China Joins New Blockchain Platform for Property Buyers
New World Development, a property development firm based in Hong Kong, along with the Hong Kong Applied Science and Technology Research Institute (ASTRI) have formed a synergy to launch a new blockchain platform for home buyers with the Bank of China reportedly being the first bank user. New World Development and ASTRI both aim to replace paperwork operations such as signing the Provisional Sale and Purchase Agreement or a mortgage application — with digital authorization. This will allow the user to send the purchaser’s authorized, encrypted and digitally signed provisional agreement to selected banks.
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3. South Australian Government Adopts Blockchain Technology for Upcoming Elections
The government of South Australia announced that they will be having their first ever election on blockchain technology. The government has awarded the contract to Horizon State, as they have a proven track record for implementing blockchain based elections. The South Australian government plans to implement this solution for the Recreational Fishing Advisory Council elections. There are 45 candidates running for 5 positions. The blockchain has already been implemented on the online polling website of South Australia where users can find and provide feedback on consultations open across the South Australian government. The CEO of Horizon State, Nimo Naamani, spoke to Micky.com.au and stated: “This is an exciting first government use of our tech in Australia, and a great way to validate the blockchain use for this purpose, the South Australian government is very forward thinking”.
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4. Waste Management Firm Launches Blockchain Platform in UAE City
Emirates News Agency, the country’s official news agency, reported on Feb. 17 that a blockchain-enabled waste permit portal will be launched in Sharjah. The blockchain-based waste permit portal will also be developed by environmental, recycling and waste management company Bee’ah and the Hamriyah Free Zone Authority (HFZA). The platform will reportedly cut down costs for customers applying for permits within HFZA, as well as reduce permit-issuing time from several days to only a few hours. HFZA claims that “all transactions are completely secured, essentially eliminating any human error or fraud.” Khaled Al Huraimel, CEO of Bee’ah expects that the technology “will not only facilitate seamless operations, but also increase trust between customers and operators.”
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5. Luxembourg Passes Bill to Give Blockchain Securities Legal Status
A bill providing a legal framework for securities issued over blockchain has just been passed by the European nation of Luxembourg. The country’s Chamber of Deputies, the county’s parliament, recently passed the bill on Feb. 14 with 58 members supporting the legislation with only two voting against it. The legislation is intended to provide financial market participants with legal certainty for issuing securities using blockchain technology. It is also noted that it should provide greater certainty for investors and make the transfer of securities more efficient by reducing the number of intermediaries.
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