Blockchain Report — 8/31/2018

Summary: First Ever Kenyan Cryptocurrency Project Hopes To Improve Quality Of Logistics Industry; CBOE Will Launch Ethereum Futures Trading Later This Year; Wanchain Joins Enterprise Ethereum Alliance

First Ever Kenyan Cryptocurrency Project Hopes To Improve Quality Of Logistics Industry

According to Ethereum World News, TMX is building a cryptocurrency called TMX Global Coin. TMX is a project that attempts to be the first cryptocurrency of Kenyan origin within the industry. Anthony Njoroge, CEO of TMX, explained how he hopes to change the cargo logistics business around the world through the use of specialized tokens running on a blockchain:

“We are using Blockchain technology to enhance Cargo logistics business to have more open, transparent and democratic process using a decentralized system, where all the users are able to talk to each other on an open platform”

A video on the company’s website shows that the project uses the ERC20 standard for the token. The company hopes to provide the ability to track the status of a package as well as any associated transactions in real-time. Njoroge explains further:

“The consumer as well gets to know the amount of money required throughout the different processes the cargo goes through and the estimated amount of time. Once the cargo successfully goes through a process the system ticks in the system as complete and starts the next process.”

CBOE Will Launch Ethereum Futures Trading Later This Year

According to Cointelegraph, CBOE Global Markets, owner of the Chicago Board Options Exchange (CBOE) and one of the world’s largest exchange holding companies, is looking to launch futures for Ethereum. CBOE Global Markets is planning to launch ETH futures by the end of 2018.

The company will base its ETH futures on Gemini’s underlying market, which it also did with its Bitcoin futures earlier. The question is, why hasn’t the company launched Ethereum futures trading yet? The futures and options exchange is waiting on the Commodities Futures Trading Commission (CFTC) to give the project the go-ahead before its official launch.

The Securities and Exchange Commission (SEC), said in June that Ethereum was not a security. CBOE Global Markets president Chris Concannon responded by saying:

“This announcement clears a key stumbling block for Ether futures, the case for which we’ve been considering since we launched the first Bitcoin futures in December 2017.”

Wanchain Joins Enterprise Ethereum Alliance

According to Ethereum World News, Wanchain has announced that it oined the Enterprise Ethereum Alliance (EEA). The EEA is the world’s largest open source blockchain initiative, and is regarded as the first global standards organization that provides an open, standards-based architecture and specification with the goal of accelerating the adoption of Ethereum for enterprises.

Wanchain said in statement:

“The EEA’s world-class Enterprise Ethereum Client Specification and forth-coming testing and certification programs will ensure interoperability, multiple vendors of choice, and lower costs for its members — the world’s largest enterprises and most innovative startups.”

Oliver Birch, Vice President of Wanchain said:

“We are very happy to be a memeber of the EEA…The Alliance allows us the ability to work with industry leaders to address specific use cases. We look forward to helping the community by connecting the world’s digital assets.”

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