Blockchain Report — 12/14/2018
Summary: 95% Of Carmakers Plan To Make “Moderate To Significant” Blockchain Investments Over The Next Three Years; Opera Launches A Cryptocurrency Wallet For Its Mobile Phone Browser; First Ever Blockchain Loan In Latin America Closes
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95% Of Carmakers Plan To Make “Moderate To Significant” Blockchain Investments Over The Next Three Years
According to CCN, an executive report called “Daring to Be First” from IBM discovered some key insights into how company executives viewed blockchain technology and how it can impact their industry.
The report discovered that 95% of carmakers plan to make “moderate to significant” blockchain investments for the next three years. Furthermore, 54% of executives surveyed stated that their company will implement their first commercial blockchain network at scale within three years.
One industry that could greatly benefit from the blockchain is the auto industry. Blockhain technology can help tracking and verifying the parts of vehicles in the supply chain.
The IBM report emphasized this point by stating that Porsche has been developing blockchain applications to park cars, lock/unlock cars, and make it simple to loan out company cars to employees.
Opera Launches A Cryptocurrency Wallet For Its Mobile Phone Browser
According to The Verge, the web browser Opera has launched a cryptocurrency wallet that is built-in to its Android app. At first, the wallet will only support Ethereum. Support for other cryptocurrencies and tokens will apparently come later.
This shouldn’t come as a surprise to people who have been watching the cryptocurrency wallet industry. Opera first announced back in July that they would potentially release a cryptocurrency wallet along with the browser.
In order to use the Opera cryptocurrency wallet, users have to purchase some Ethereum tokens to store inside the wallet. After that, users will be able to select a variety of decentralized apps (dApps) within the browser. It’s important to note that the cryptocurrency wallet feature is not available for iOS.
Along with a cryptocurrency wallet, Opera also has anti-cryptojacking software for its web browser. Cryptojacking is when a hacker accesses somebody else’s computer and its computing power to mine cryptocurrency on their behalf.
First Ever Blockchain Loan In Latin America Closes
According to Reuters, Brazil’s Itaú Unibanco completed Latin America’s first-ever loan through a blockchain platform this month. However, there are some doubts about the loan’s transparency. The loan was worth $100 million USD and acted as a proof of concept to demonstrate that such a loan could work.
The loan was provided by Standard Chartered and Wells Fargo, and used the blockchain platform R3 Corda Connect. Corda Connect is a paperless system that allows the bank to assess revisions and approve loans digitally.
Itaú Unibanco first started using blockchain technology in 2017 when testing four different blockchain platforms: Ethereum, Hyperledger Fabric, Corda, and Quorum. The bank also announced in June that it created a blockchain platform to share its data with domestic financial regulators such as Brazil’s Securities and Exchange Commission.
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