The Conflux Foundation would be utilizing the $35 million in funds for the development of a new blockchain network. The companies such as Huobi, Sequoia China and Baidu Ventures invested contributed to the fund. The Conflux Foundation is to unveil a new public blockchain during the third quarter of the succeeding year with the testing to happen in February.
A proprietary blockchain network has been launched by the KT Corporation. KT Corporation explained the aim is to authenticate the user’s identities in a more efficient way and provide a better service for international roaming. With blockchain technology, the information’s kept in by KT Corporation could be shared with global partners in a secure way.
CloudSight would be adopting Bitcoin Lightning Network for processing micro-transactions to gather and share visual knowledge and permit artificial intelligence (AI) systems to learn from and communicate with each other. It is expected that the startup would be able to roll out advanced value interactions. The company believes this is a critical step in the development.
During the largest crypto conference, Consensus 2018 in New York, the Memorandum of Understanding (MoU) entered by Bermuda’s government with the Shyft blockchain network was revealed. The $10 million partnership between them is expected to raise job opportunities as well. The blockchain network would also be securing the government data.
The Whiteblock Inc. has unveiled a blockchain testing-as-a-service (BTaaS) system. The proposed system is based on Apposite Technologies platform. It is reported that the blockchain and DLT developers can systematize transactions, nodes addition or deletion and such others fuelling a live blockchain network. Consequently, the blockchain performances are evaluated exposing in-depth reports.
The RXIL, A.TReDS, and M1xhange have been licensed by the Reserve Bank of India to develop a blockchain network. The factoring exchanges are targeted to prevent double financing. The exchanges will have a mutual platform through which they can share database confidentially.