09/07/2018: Biggest Stories in the Cryptosphere
by BlockEx
1. Walmart’s Latest Blockchain Patent Published
We previously reported on Walmart applying for a patent to improve its ‘smart package’ delivery tracking system. One of the many blockchain applications submitted by the multinational. A new patent documentation has now been published. The patent, called ‘Delivery Reservation Apparatus and Method’, is focused on the managing of package reservations in the case of unsuccessful deliveries. The idea is creating a system of delivery lockers which would be located in places such as one’s location or transportation hub. Once available, the recipient would then be able to sign for and collect the package. The ledger adopted in the project would be open, and, therefore, openly accessible by others, to a certain degree.
2. Two Crypto Exchanges Received Accreditation By Philippine Central Bank
Back in April, it was announced that the government of the Philippines would allow a limited number of blockchain and virtual currency companies to do business in a designated economic zone. The project was conducted with the involvement of the Cagayan Economic Zone Authority (CEZA). It has now been reported that two more crypto exchanges have been accredited by the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, bringing the total number to five. The news was released by the by Deputy Governor Chuchi G. Fonacier through a public statement. Virtual Currency Philippines, Inc. and ETranss, the two exchanges in question, are now allowed to carry out transactions between Philippine pesos (PHP) and virtual digital currencies.
3. ICBS Files Another Blockchain Patent
In April, we reported on the largest bank by assets, the Industrial and Commercial Bank of China (ICBC), filing a patent for a blockchain digital certificates verification system. Another patent by ICBC has now been published. The document describes a system where financial assets are exchanged. The platform is based on a distributed network created through a sum of nodes which represent the participating institutions. A smart contract is triggered in the case of a transaction request. The other nodes will then validate the transaction, depending on the information provided. Once the predetermined threshold, in terms of nodes validation, is reached the transaction is complete. The bank hopes to cut the middleman and increase the level of liquidity of financial assets with this system.
4. Google Co-Founder Sergey Brin Is An Ethereum Miner
We previously covered Google’s ban on crypto ads. At the time it was noted that the decision was made despite the company working on blockchain projects. Now, the co-founder Sergey Brin has disclosed that he is Ethereum miner. An activity he does with his 10-year old son. He made the revelation at the Blockchain Summit in Morocco during a panel on emerging technologies. During the discussion, Brin also shared his thoughts on zero-knowledge proofs, ‘a cryptography principle which enables to prove something without actually revealing the knowledge”. He was joined on the panel by Co-Founder and CEO of Lightning Labs Elizabeth Stark and MIT Media Lab’s Digital Currency Initiative Director Neha Narula.
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