Jul 3, 2020
Vanguard’s Blockchain Platform Goes Live / China’s Full DLT Strategy / Blockchain For ERP Applications
July 3, 2020
Today marks an important milestone as the one-year anniversary 🥳 of this series! Thank you to all you who read this series each week, the mentors that encouraged my efforts, and to the whole decentralized community for continuing to inspire me daily. Here’s to another year ahead together. Now back to our regularly scheduled program…
This week in the landscape…we receive a more in-depth overview on China’s broader DLT strategy as the pilot of their Blockchain Service Network (BSN) ready deployment of 120+ public nodes globally. Vanguard’s blockchain platform for foreign exchange (FX) piloted on Symbiont’s Assembly blockchain with BNY Mellon, State Street, and Franklin Templeton is set to go live in Q3 2020. Visa has begun working with Zap, Inc. through its Fast Track program, to help users receive Bitcoin (BTC) as dollars via direct bank deposits. Norwegian Seafood Association has partnered with IBM and Atea ASA to track the life of fish from sea to dinner plate as $300B Worth of food will be traced using blockchain and IoT by 2027. Investors are not holding back on the landscape or DApps as The Graph, Vendia, DFINITY, AVA Labs, and more announce major financing rounds. DApp volumes rose $4.5 billion moving into Q2 of 2020 — with most of it passing through Ethereum. Plus trends & insights from investors, production deployed enterprise use cases, tons of research, top industry podcasts, and more! Enjoy!
🇨🇳 Blockchain as an Infrastructure: A Deep Dive Into China’s DLT Strategy
China has been exploring aggressively pragmatic ways to deploy a digital infrastructure like blockchain technology, 5G, artificial intelligence, and cloud computing as the new information infrastructure. The continuous deployment of digital money/electronic payment, or DC/EP, testing, and the blockchain-based service network is considered as a sign that the strategy is gaining momentum. Only in the pilot phase, BSN is expected to deploy more than 120 public nodes in China and abroad…read more
Related: 🇨🇳 How Chainlink and Cosmos Fit Into China’s Grand Blockchain Initiative
🏦 Vanguard’s Blockchain Platform for Foreign Exchange Will Go Live in Q3 2020
Mutual fund giant Vanguard has conducted the pilot on Symbiont’s Assembly blockchain with participation from BNY Mellon, State Street, and investment firm Franklin Templeton, intended to change the risk profile of FX (foreign exchange) transactions. The foreign exchange platform is expected to go into production in the third quarter of 2020. The platform is capitalized with the capability to protect users against underlying credit risk that’s associated with those transactions…read more
Related: 📖 Bitcoin Startup Zap Is Working With Visa
🐟 Blockchain Will Let You Track Salmon From Sea to Dinner Plate
The Norwegian Seafood Association has partnered with IBM and the technology provider Atea ASA to track the life of fish from sea to dinner plate. With a new blockchain initiative, consumers can access all data like how a salmon is bred, stored, and shipped by scanning a QR code. This will help manufacturers in Norway to overcome challenges caused due to stricter rules on how it treats salmon and the use of antibiotics to the sustainability of fish feed…read more
Related: 📖 $300B Worth of Food Will Be Traced Using Blockchain and IoT by 2027
⚙️ Proof-of-Work vs. Proof-of-Stake for Scaling Blockchains
Proof of Stake (PoS) makes the consensus mechanism completely virtual, while the overall process remains the same as Proof of Work (PoW), and the method of reaching the end goal is entirely different. Additionally, in PoW, the miners solve cryptographically hard puzzles by using their computational resources while in PoS, the validators come into the picture, betting on the blocks that they feel will be added next to the chain. The reality could be that there isn’t just one correct solution for scaling; instead, these are being used based on what path or paths are best for it…read more
⚙️ Blockchain For ERP Applications
The intrinsic features of the blockchain, like decentralization, security, and managing data, make it the perfect option to integrate with ERP system applications. The benefit of integration between blockchain and ERP could be defined as the system that will help store new data in the distributed ledger and save the previous data and stored in the ledger. Additionally, the blockchain will give transparency in the transaction and the process involved in the ERP systems…read more
Related: 📖 Provide Partners with Nethermind to Offer Advanced Key Management & Enterprise Support
🏥 Cyprus Hospital Ready to Store COVID-19 Test Results on Blockchain
Blockchain-based medical data management platform developed by blockchain tracking platform VeChain and the digital healthcare solution firm I-Dante has been launched in the market. The platform, dubbed E-NewHealthLife, has been deployed in the Mediterranean Hospital in the Republic of Cyprus, allowing people to prove, control, and store COVID-19 test results. The platform also complies with local quarantine and health regulations to return to work, take a flight abroad, and be authorized for other activities…read more
Related: 📖 Blockchains Are an Excellent Solution for Privacy, Part 1
More For Your Week:
🇨🇳 Why Blockchain Innovation Matters: US vs China
🇨🇳 Beijing sets up special fund as part of plan to become a blockchain hub by 2022
💸 The Graph Raises $5M From Strategic Investors to Decentralize the Query Layer of DeFi and Web3 — Tegan Kline
💸 Vendia raises $5.1M for its multicloud serverless platform —
💸 DFINITY Opens Up the ‘Internet Computer’ to Third-Party Developers
💸 Base Layer Wars Heat Up With Another $12M Committed to AVA Labs’ Avalanche Blockchain — AVA Labs
💸 Cardano Developer IOHK Launches $20M Fund for Ecosystem Startups
👩🏫 Open World Builders: Free Virtual Blockchain Bootcamp — Flow
DApps (Decentralized Apps) Watch
📖 Ethereum 2.0 Likely to Affect DeFi and DApps With PoS Introduction
Ethereum 2.0 is at its first stage, although it is considered vital because it will bring about some of the most significant changes in the network, including Proof-of-Stake and sharding updates. ETH 2.0 will also change the dynamics of DeFi in one way as there might be less congestion with transactions in DeFi and reduced costs of transactions. While upon full completion of Ethereum 2.0, the sharding chains and PoS consensus model will solve some of the most fundamental issues of DApps…read more
Related: 📖 Ethereum DeFi Broke Records in June, But Other Categories Are Suffering
📖 Nonfungible Tokens Could Change the Way We Own Things
With the ongoing digitalization of the world, Non-Fungible Tokens (NFTs) are also gaining momentum. They have started to attract spawned projects like Nike filed a patent for tokenizing shoes on Ethereum; Formula 1 held an auction for Formula 1 car-branded NFTs; and many others. These tokens present an opportunity for the future of ownership. It allows for real-world assets to be adequately digitized and stored while simultaneously keeping them secure, ultimately revolutionizing the compensation, storage, legality, and the security of the property…read more
Related: 📖 Non-Fungible Tokens: A Convergence of Technology Will Unlock the Next Billion-Dollar Asset Class — Andrew Steinwold
📖 Quant Network and SIA successfully tested blockchain interoperability
Quant Network and SIA have successfully tested cross-blockchain interoperability between multiple Distributed Ledger Technology (DLT) protocols by integrating Quant Network’s Overledger technology into the SIAchain private blockchain infrastructure. The integration will allow mostly banks and financial institutions to adopt cross-platform & interoperable blockchain solutions and to embrace new business models, improve operational efficiencies, and deliver innovation to banking customers…read more
📖 NFT token sales hit $100 million as virtual economy booms — Decrypt
📖 Dapp volume hits $12 billion as Ethereum dominates — Decrypt
📖 Civic digital identity wallet with facial biometrics and health credential launched
⏱️ From Web 0.1 to Web 3.0: How One Company Plans to Bring Mass Adoption to dApps — Han Yoon
📺 Knowledge Drop on VCTV:
Here the latest on what’s happening throughout FinTech and Blockchain globally as I sit down with industry-leading investors on another episode of VCTV (LATOKEN).
🎙️ Research: State of the Blockchain & DApps 2020:
Available now, for free is my latest research on Decentralized Applications or DApp “Stack” Landscape Map — the Q2 2020 edition. This map provides a full overview and taxonomy of the emerging DApps industry highlighting over 400 global companies teaching playing a vital role in building next-generation applications. As a bonus, I’ve included some of the ecosystem players and groups you need to be familiar with as you prepare to release your applications. If this is the first version you’ve seen of the landscape, consider it your guiding roadmap to further understanding not only the industry but all the core technology required to build a full or partial Decentralized Application (DApp).
Additionally, you can find my Q1 2020 research on the entire Blockchain Landscape. This is now the fifth edition of the landscape. You’ll find over the map includes 747 companies (900+ total unique + broader key Ecosystem players) that have seen $22 bn+ USD in funding raised from 2010–2020 — over $18 bn invested alone since 2017!
