November has been quite a busy month for blockchain technology. Recent advancements have allowed governments, retail giants and tech gurus to reach pivotal milestones in a growing, but infant industry. Supply chain has especially seen the most progress this month. With promising pilots, announcements, and full-scale implementation, here is a recap of the latest blockchain buzz this November.
Swiss Railway Tests Blockchain Identities for Workplace Safety:
Swiss Federal Railways has streamlined a blockchain-based credentials management system for construction workers. The project was tested from May to November 2018 and is aimed to decentralize the current manual and paper-based centralized system into a digital, audit-proof solution based on blockchain. Switzerland has been leading the race for a while, and this news reflects how blockchain is changing the way businesses do things. Swiss Federal Railway has created this credential management system for its workers. So how does it work? Each worker will be required to scan a QR code available in the application on their mobile device. These digital Identities are what the workers will use to sign in and out of the construction sites, which will boost safety cases of identity management.
My final thoughts on this advancement are that blockchain allows for a change in a wide range of industries, particularly those dealing with a large number of resources on contracts. Although the Swiss are quick in adapting technologies, this initiative for a world class railway is indeed a step towards the right direction.
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European Commission’s Plan on Launching New Blockchain:
The Executive body of the European Union is in the process of signing up and has already secured several leading banks to its new ‘Blockchain Association’. The European Commission told the representatives from public institutions and the private sector in the conference ‘Uniting EU Industries to lead blockchain technologies’, this synergy is to develop a reliable, secure and resilient European blockchain infrastructure that meets the highest standards in terms of privacy or computer security and complies with European Union legislation. According to the declaration; In the future, all public services will use blockchain technology.
Blockchain is a great opportunity for Europe and the Member States to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies. The Partnership launched enables the Member States to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens. This decision by the European Union will allow a stronger, transparent personal and fiscal data.
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Carrefour Innovative Launch of Food Tracking Platform Using Blockchain:
Carrefour launches in Spain the first blockchain food traceability system in one of its products. Carrefour has already tested blockchain tracking for French poultry in early 2018, reaffirming its commitment to the decentralized solutions. Moreover, using blockchain technology means; the possibility to access a secure and distributed ledger system containing the history of all blocks in the chain and the exchange during the creation and distribution of product data. This allows information to be managed in a transparent, impregnable way and through independent data. In a press release stated, blockchain technology is an integral part of its supply chain. The technology allows for more transparency, customers are able to review the distribution process, and to verify where their food is coming from. The company is considering expanding its use of decentralized technology and to implement it into an origin line of products.
As Walmart is betting on blockchain for food safety, Carrefour is not behind in blockchain technology adaptation.
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Two Startups launched by IBM and Columbia University:
The business synergy between IBM and Columbia University aim to bring about data transparency. The goal of this exercise is to provide 20 entrepreneurs and blockchain network global founders with specific access to a host of digital assets that are needed for the development of ‘sustainable blockchain businesses’ as well as ‘enterprise-grade blockchain networks. The synergy will advance research in technologies such as secure multi-party computation, homomorphic encryption, secure hardware, fraud reduction, and improving precision medicine through insight from collective data sources. This will spur the creation of new business models, services, and policies to support the sharing of data in a secure, privacy-preserving and tamper-proof manner. According to the press release, each program will support ten startups, offering them a network of business mentors, technical support, access to Columbia’s student talent and ‘research community,’ design assistance, and IBM cloud technology resources.
This without a doubt is a news of the gigantic magnitude and the collaboration of the league of extraordinary tech giants and a remarkable institution.
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South Korean Governments Big Idea using Blockchain:
The South Korean government plans to use blockchain for tracking beef. In the partnership between the Ministry of Science and ICT and the Ministry of Agriculture, Food and Rural Affairs has implemented blockchain technology to track beef along the supply chain streams. The aim is to use digital ledger technology in order to track beef through the supply chain to provide consumers with information about the source of their food. Blockchain technology will be used by the government to keep a track of the beef product from cattle rearing to slaughtering, meat packing, and sale. To avoid human intervention, the government will make use of internet of things (IoT) technology devices that will be attached to cows to enable automatic data storage in the blockchain using Bluetooth.
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The world is changing. Whether you are a government entity with decision making via paper-based solutions going decentralized or working on a synergy between world-class tech giants and institutions, its the time of blockchain revolution. Ultimately the clash of titans in the realm of blockchain is just beginning.