China Launching Blockchain Network April 25th & Now Trialing Digital Currency / Tesla Completes Blockchain Pilot / Gamers Straining MSFT Azure Blockchain
April 16, 2020
This week in the landscape the game has shifted as China is set to launch its Blockchain Service Network (BSN) for domestic commercial use Wednesday (April 22) and globally on April 25, 2020. Additionally, China has begun trialing a test interface for the country’s central bank digital currency (CBDC) with the Agricultural Bank of China (ABC). If both initiatives are successful, the industry will be forever changed and we may see an even more aggressive innovation race. Quarantined gamers are training Microsoft’s Azure cloud platform and backbone for its Blockchain As a Service (BaaS). Tesla working with the Shanghai Port Group completes a blockchain pilot to speed China import process. 35 multinationals, including Microsoft, Walmart, Mastercard, Sony, and Intel, had applied for a total of 212 blockchain patents in China at the end of March 2020. Dapper Labs announces tech-sharing partnership with Libra as Dapper’s Flow blockchain will adopt Libra’s Move as it’s virtual machine (VM). Libra confirms shift to multi-currency model. Andreessen Horowitz (A16z) targets $450M for a new crypto fund. Plus, Q1 2020 DApps reports from Dappreview and Dapp.com, a Chasm to Web 3.0, podcasts galore and much more. Have a great week! Enjoy!
BONUS: I recently released the latest Q1 2020 edition of my Blockchain Landscape Map (included below for download) that provides an overview of the industry highlighting over 900 global companies, venture funds, and working groups. If this is the first version you’ve seen of the landscape, consider it your guiding roadmap to further navigate the industry. Get it here in Hi-Res for free!
Led by the State Information Center, the Blockchain Service Network (BSN) is poised to launch for domestic commercial use Wednesday and globally on April 25, 2020. If it works as envisioned, companies and software developers will be able to plug into the BSN and build blockchain-based applications as easily as assembling Lego sets. “As the BSN takes hold in worldwide countries, it will become the only global infrastructure network that is innovated by China, whose gateway access is controlled by China,” declares the latest white paper penned by the BSN Alliance, led by the government agency, several state-owned entities and blockchain firms…read more
The Agricultural Bank of China (ABC), one of the nation’s four state-owned banking giants, is trialing a test interface for the country’s central bank digital currency (CBDC). Screenshots of an internal mobile application developed by the ABC, initially seen circulating on WeChat on Tuesday and later verified by CoinDesk, shows the banking giant has already developed a front-end interface of how users could potentially interact with China’s CBDC — also known as DC/EP…read more
Quarantined gamers are putting a strain on Microsoft’s Azure cloud platform, which is the backbone of the company’s Blockchain As a Service (BaaS) offering. The company admits that in certain regions, “deployments for some compute resource types drop below our typical 99.99% success rates”. Further, Microsoft confirms that “Xbox Live is putting a strain on overall Azure capacity:” The company has not been forced to change its prioritization criteria and still to give precedence to emergency services…read more
Tesla is working with the Shanghai Port Group to test if blockchain can make the process of importing goods into China any easier. Tesla and Chinese cargo ship operator COSCO trialed a blockchain app that shortened the cargo release time and made it easier for Tesla’s logistics teams to take ownership of goods once they are offloaded. The completion of the pilot announcement doesn’t say about the type of blockchain used in the pilot, nor the sort of products Tesla imported into China…read more
The latest Global Times report suggests that 35 multinationals, including Microsoft, Walmart, Mastercard, Sony, and Intel, had applied for a total of 212 blockchain patents by the end of March 2020. Among all the foreign companies with blockchain patents in China, Mastercard tops the list with 46 such patents to its name. Nokia, Intel, and Oracle are next on the line with 13, 12, and 9 blockchain patents respectively in China. Although these companies are filing for blockchain patents in China, all of them are yet to start a blockchain-related business in China…read more
On April 3, FDA announced that it had approved the use of KN95 masks in the country. Unlike N95 masks, KN95 masks are regulated by the Chinese government. An FDA spokesperson stated that KN95 masks were not listed in its initial FDA emergency use authorization because of “challenges in determining the authenticity” of the imports coming from China. Real Items is working directly with production factories in both China and Seattle, WA to ensure that boxes of KN95 masks are shipped with a sticker containing a two-factor authentication QR code, which is an immutable and transparent record on the VeChain Foundation blockchain and the InterPlanetary File System (IPFS)…read more
Cardano is going into partnership with the South African Blockchain Alliance (SANBA) to explore further ways to strengthen technology’s adoption throughout South Africa. Through SANBA, the government can harness Cardano’s technology for use in several areas such as to develop greater transparency in governance to reduce fraud, building digital identities for municipal services, and bolstering developing economies with virtual currencies such as ADA…read more
Dapper Labs’ CTO Dieter Shirley revealed that Dapper’s Flow blockchain will adopt Libra’s Move as it’s virtual machine (VM), while Libra will utilize Dapper’s smart contract programming language Cadence in a technology-sharing partnership. Shirley stated that Flow will benefit from Move’s performance efficiency, while Libra benefiting from Cadence’s developer-friendly design.…read more by Dapper Labs
More For Your Week:
DApps (Decentralized Apps) Watch
The crypto markets tumbled sharply during two consecutive days in March 2020 following the coronavirus outbreak spread rapidly around the world. The report analysis of the DApps market in Q1 2020 can be highlighted as a total transaction volume of $ 7.9 billion across 13 blockchains, increased by 82.2% compared to 2019 Q1. During the quarter, 254 new dapps were launched, 60% lower than Q1 2019. The top three sectors in terms of active addresses were gaming, exchanges, and casinos…read more and for more from DappReview
Many entrepreneurs and investors think that crypto projects can’t capture value because they are based on open source code, so someone will come along and copy it, luring away business users and any potential for revenue. But the principal innovation of crypto networks is their ability to grow network effects by enabling users to share in the value they create. It also adheres to a sustainable business model and will be quickly familiar to those who understand the dynamics behind valuable Web 2.0 marketplaces…read more by Jesse Walden of Andreessen Horowitz
🎙️ Talking Open Finance W/ Tokyo FinTech Podcast:
Recently I joined Norbert Gehrke of Tokyo FinTech Podcast for an in-depth and extensive conversation about the evolution of the FinTech and Open Finance ecosystems over the last decade, the case for targeted efforts on financial literacy, and the urgent need for a reliable digital identity. Part 1 and Part 2 are now live!
🎙️ State of the Blockchain Industry Q1 2020:
Available now, download your hi-res copy of the Q1 2020 edition of the Blockchain Landscape Map. This is now the fifth edition of the landscape I’ve released and includes 747 companies (900+ total unique companies including broader key Ecosystem players) and more than $22 bn in funding raised across the landscape from 2010–2020 — over $18 bn invested since 2017! — Noticeable cycles emerging and full breakdown available.
A full 60 min video overview of the landscape is now available here and free for all. In the video, I breakdown the 2020 landscape, provide a summary of 2019, emerging trends for 2020, DeFi, Libra, CDBCs, Stablecoins, DApps, and more!
👉 Download the NEW Blockchain for Infrastructure Landscape Q1 2020 edition for insights on DeFi, DApps, Infrastructure, Digital Currencies, and more!