Snapshot of latest use cases of blockchain technology
Blockchain is not an immature technology anymore, leading international enterprises are piloting applications built using blockchain technology and enterprise investments in blockchain solutions are now exceeding $20 billion. In this article, we are going to provide a snapshot of projects which utilise blockchain technology to solve problems in industries ranging from energy trading to cross-border payments.
Blockchain based system for local energy trading is launched in Scotland
The project is called TraDER and it provides the market layer which bring together the generators and local storage asset owners to enable trading and prevent wastage of excess energy at Orkney islands off the coast of Scotland. High proportion of energy generated on the islands is coming from renewable sources and quite often exceeds demand, with excess energy practically wasted because generators are usually switched off in these situations. The TraDER aims to solve this problem by allowing energy generators to trade excess energy via the decentralised network with owners of storage assets such as batteries and electric vehicles.
The project is developed by the eight member consortium which is led by blockchain startup Electron, and includes number of other prominent members including utilities provider EDF, Scottish and Southern Electricity Networks, NGO Community Energy Scotland as well as number of other members from the industry and research community. The project is also supported by the UK Department for Business, Energy & Industrial Strategy.
Amazon patents blockchain based solution for product authentication
Three years after initial filing, Amazon, world’s biggest online retailer, was granted a patent for blockchain based solution for product authentication from the U.S. Patent and Trademark Office.
The system would allow the end-user of particular product as well as other parties involved in item production and distribution (suppliers, manufacturers, distributors etc.) to gain visibility in the supply chain and would provide the immutable record of the items life as it moves through the chain from production to the buyer. This in turn would enable establishment of trustworthy product provenance and will help to prevent fraud and forgery, which are widespread right now in many product categories due to lack of transparency in the supply chain.
Patent filing have not mentioned the particular blockchain protocol to be used for the solution, however Hyperledger was mentioned as a possible option.
Alibaba partners with China’s biggest port operator on development of the blockchain-based digital port platform
China’s biggest port operator, China Merchants Port, partners with Alibaba and its financial subsidiary, Ant Financial on development of blockchain based solution for international trade.
The alliance will promote integration of blockchain technology in maritime logistics sector with the ultimate goal of developing world’s first blockchain-based digital port with an open collaboration network. This would in turn allow quicker exchange of data between the port as the core part of the international trade network and other companies and authorities involved in cross-border shipment.
The platform will allow different members of the supply chain including buyers, sellers, logistic companies, banks, customs, and tax officials to conduct contactless digital interactions with the port system in order to enable paperless facilitation of cargo passage through the port infrastructure.
At this stage the collaboration will be focused on implementing innovations in Chinise ports, however there is the potential to expand the project to other countries where China Merchant Ports operates, the group controls 50 ports in more than 20 countries.
Open-source community continues development of Telegram Open Network
Even though after years of drama with the SEC Telegram shut down their cryptocurrency operations, the open-source community does not give up on the project. 30 independent developers, including TON Blockchain Contests winners, have launched the NewTON Blockchain test network. The NewTON team was formed less than a month ago. In this timeframe they have launched network testnet, created tools and guides for validators, wallets for iOS, Android and Web, as well as development tools.
Another team based in China called The TON Community, also intends to launch their own test network based on the TON protocol. Toozu Wu, one of the project developers who is known as the author of the Chinese translation of TON white paper said:
“At the first stage, we plan to hire developers and node holders to join the network and test it. Then we redesign the network rules, adapting them to the current context, and invite more people to familiarize themselves with using TON.”
Number of technology providers have also indicated that they are going to release products built for The TON Community Network, including Gram 50 wallet, Nebula Telegram client, TON-based NG Wallet mobile wallet and Lambda Storage.
