China Launching Nation Blockchain This Week / Facebook Libra Gets Redesigned / Enterprise Blockchains Ready For Gov’t Use? / State of Layer-2 Investments
April 22, 2020
This week in the landscape…as we await the launch of China’s Blockchain Service Network (BSN) set to arrive this week, we’ve been notified that blockchain is now officially included in China’s technology strategy with other major technologies such as A.I., IoT, etc. Facebook Libra gets redesigned to comply with regulations including offering single-currency stablecoins along with a multi-currency coin — but is still considered a security. The IEEE co-published an assessment of how four blockchain platforms measure up against security requirements of the U.S. Federal Government and only one of the platforms has passed the test. At the same time, Binance is building a blockchain that’s more like Ethereum. The South Korean government has stated that the blockchain market represents a “golden opportunity” for the country. AirAsia has launched a blockchain-based cargo booking system called Freightchain. Power Ledger rolls out blockchain-based solar energy trading in Western Australia. Wyoming’s Carbon County to move its land records on a blockchain. Token Daily provides us with an in-depth look at the State of L2 (Layer-2) investments, SPiCE VC shares their view of the evolving Blockchain Applications Landscape, Messari releases their recap of Q1 2020 and outlook for the year, EY kicks off their Global Blockchain Summit, plus a list of today’s available top crypto/blockchain talent, and so 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!
The National Development and Reform Commission (NDRC) told reporters Monday blockchain will join other emerging technologies such as cloud computing, artificial intelligence (AI), and the internet of things (IoT) in underpinning the systems China uses to manage the flow of information in the coming years. On how new technologies, including blockchain, would be integrated, high-tech director Wu Hao said the NDRC would “work with relevant departments to study and issue relevant guidance to promote the development of new infrastructure [and] revise and improve the access rules that are conducive to the sustainable and healthy development of emerging industries.”…read more
The Facebook-backed Libra crypto-currency project has undergone four significant changes to comply with regulatory requirements, after intense regulatory pressure. The changes have introduced a robust compliance framework to enhance safety, developing a permission-less system while maintaining its vital economic properties, building strong protections into the design of the Libra Reserve, and offering single-currency stable coins in addition to the multi-currency coin…read more
Related: 📖 Libra is still a security despite its revamp
The Institute of Electrical and Electronics Engineers (IEEE) has co-published an assessment of how four blockchain platforms measure up against the rigorous security requirements of the U.S. Federal Government and according to the report, only one of the platforms has passed the test. The Federal Information Security Management Act of 2002 (FISMA) requires that all new federal IT programs and modernization efforts using blockchain meet the National Institute of Standards and Technology (NIST) cryptographic standards. If the technology doesn’t meet them, then the federal government cannot use the technology…read more by Benjamin Jessel
China is bringing together its tech giants and financial giants like Huawei, Baidu, and Ant Financial to form a committee on blockchain with the primary goal of setting standards for the adoption of blockchain in the country. The committee named ‘National Blockchain and Distributed Accounting Technology Standardization Technical Committee’ will also represent 70 researchers and experts coming from local governments, state-led think tanks, universities, and supercomputing centers…read more
South Korean government has stated that the blockchain market represents a “golden opportunity” for the country. Vice Minister of Strategy and Finance, Koo Yun-Cheol, held a meeting on blockchain technology which brought together a number of private industry experts. The same meeting urged that the South Korean government should take an active role in the space going forward. The South Korean government did not reveal a concrete budget for strengthening the country’s blockchain industry…read more
Ava is aimed at making blockchain fast enough for finance so that it could gear-up in processing speed compared to centralized payment systems run by Visa and Mastercard. The developed technology will allow for developers to wall off a part of the blockchain, such as making services only available in the U.S., further making it different from other blockchain networks and appealing to finance firms that have to meet regulatory conditions in various jurisdictions…read more
iQiyi is integrating with NKN’s blockchain to utilize its “micro-hosting network management” for deploying and managing a third-party content delivery network (CDN) software running on the platform. During the trial, teams noted a significant increase in caching savings for easy retrieval at a later date. NKN’s blockchain uses a proof-of-relay (PoR) mining algorithm that randomly selects a small number of fixed data packets as “proof” before sending that data to other nodes for payment and reward. As per the agreement, iQiyi will use the peer-to-peer infrastructure from New Kind of Network (NKN) to help boost buffering speeds and reduce energy consumption and network congestion…read more
Hyperledger Fabric is intended as a foundation for developing applications or solutions with a modular architecture. It allows for components such as consensus and membership services to be plug-and-play. Hyperledger Fabric has been adopted by major cloud service providers including Alibaba, Amazon Web Services, Microsoft Azure, Baidu, Google, Huawei, IBM, Oracle, SAP, and Tencent. On the other hand, Hyperledger Sawtooth provides a flexible architecture that separates an organization’s core system from its application domain. This allows smart contracts to specify business rules for applications without…read more
Teleport, the logistics division of the major airline, AirAsia, has launched a blockchain-based cargo booking system called Freightchain. According to an April 16 announcement, Freightchain is “the world’s first digital air cargo network run on blockchain.” The network — which is launching today — allows shippers or freight forwarders to instantly book and confirm any of AirAsia’s 247 aircraft to carry cargo.…read more
More For Your Week:
DApps (Decentralized Apps) Watch
L2 requires only minor changes to the consensus layer and avoids the centralization of the base-layer protocols. These solutions include Bitcoin’s Lightning Network and Ethereum’s Raiden, which can be described as true L2 solutions, and sidechains such as RSK for Bitcoin and Plasma Chains for ethereum. There’s more interest in L2 solutions as market conditions started improving in Q3 & Q4 2019 — both in anticipation of a new bull run that would likely lead to congestion and for added functionality, like privacy, to base layer protocols…read more & for more from Mohamed Fouda
In a PwC survey, 85% of people polled around the world said they wished there were more companies they could trust with their data. Status is an Android and iOS app that combines a peer-to-peer instant messenger with a crypto wallet and Web3 browser. Status differs from other I.M. apps is its inclusion of an ERC-20 wallet and DApps, accessed through an in-app browser. Status’s blockchain-powered applications enable the user to control access to their data. DApps available through the Status browser include a mix of collectibles like CryptoKitties, and games, such as Etheremon and the Decentraland Marketplace…read more
🎙️ 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!
🎙️EY Global Blockchain Summit: Day 1 — Blockchain Business Applications — Paul Brody
🎙️ 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!