The European Commission revealed the launch of EU Blockchain Observatory Forum. European Commission identified blockchain for enhancing ‘high levels of traceability and security in online economic transactions.’
The Parity Technologies, an Ethereum startup, had suffered breaches during 2017. Huge funds were lost during Parity freeze. The company had pitched ‘node software to enhance the speed of its clients while adding a range of updates.’
The FedEx had started evolving industry standards for adopting blockchain platform into its daily operations. It had been working on integrating blockchain by joining the Blockchain in Transport Alliance (BiTA).
The Intel contributed Sawtooth software hosted by Hyperledger blockchain group is made available for enterprise use. It is the ‘second open-source blockchain platform with 1.0 version.’
Christine Lagarde, MD of the International Monetary Fund (IMF) said that the bitcoin mining consumes more electricity. She emphasized that they would consume electricity as much as Argentina tapping energy for enormous bitcoin mining.
Nayuta CEO Kenichi Kurimoto coined, “The Lightning Network is the only solution for real-time transactions.” He observed it as the solution to ‘Internet of Thing’s desire for payments’ that happen instantaneously.
The World Wide Fund for Nature (WWF) had begun to adopt blockchain technology for evading illegal fishing. The transparency ensured by the distributed ledger will prohibit the users from indulging in illegal activities.
The two blockchain startups based in San Francisco, Bee Token and WeTrust are to establish a ‘decentralized insurance layer based on crowdsourced security deposits’ jointly. BEE Token had effected in $10 million presales and the public sale is set to commence.
The National Institute of Standards and Technology (NIST) had exposed a synopsis of the blockchain technology that will aid the beginners. It emphasized on the features of blockchain technology, its limits and errors.