Microsoft’s Blockchain Obsession, Including ID Push, Is Good for Bitcoin

By CCN: Does Microsoft consider blockchain to be the strongest technology in the world? Who knows, but they sure seem to recognize its growing mainstream status and view it as a potential moneymaker. The company recently announced that it would be building a decentralized identity (DID) network on top of the Bitcoin blockchain, the oldest and arguably most trusted blockchain within the space. The network will be built in accordance with standards set by the Decentralized Identity Foundation, which Microsoft claims can overpower the “throughput issues” commonly witnessed on the…

Chinese Authorities Probably Want to Exploit Blockchain to Monitor Citizens

By CCN.com: In modern times, China has worked to consolidate state power over individuals. Local authorities are trialing systems to control peoples’ social standing, access to jobs, and even where they can go. Until now, one refuge for its citizens has been in the wooliness of time; not even the all-powerful Communist party can always measure where people go, when, and what they do. But, with a state-mandated blockchain, this could begin to change. Those inside China will be aware of the fate that awaits Bitcoin and other major cryptocurrencies;…

Blockchain Will Revolutionize 300 Years of Stock Trading: London Stock Exchange

By CCN.com: The London Stock Exchange (LSE) is weighing the benefits of using blockchain technology for issuing stock and settling trades. In an interview with CNBC, the LSE chief executive Nikhil Rathi said he was inspired by early blockchain initiatives at other stock exchanges, and sees the benefit of distributed ledger technology: “You can certainly see distributed ledger technology having an application in the issuance process… I can see that technology being used in settlement too.” LSE, the world’s sixth-largest stock exchange, has been surprisingly open to blockchain technology. Earlier…

Blockchain Hype Turns to Mainstream Adoption in Billion-Dollar Corporations

By CCN.com: Forty percent of senior finance executives expect their firms to invest in blockchain technology over the next two years, according to a recent survey by audit firm Grant Thornton LLP. That’s in addition to the 22 percent who report their firms have already implemented the technology. This marks a dramatic change from only a year ago, when blockchain was more talked about than practiced, according to Chris Stephenson, Business Consulting principal at Grant Thornton LLP and author of the report. In its 2019 CFO Survey, Grant Thornton along…

English Soccer Club Launches Blockchain Fan Token

English Premier League soccer team West Ham United turns to blockchain to launch its own token. The “fan token,” powered by Socios.com will allow West Ham’s 40 million supporters to vote on club decisions and gain access to exclusive rewards. The fan token initiative has already been adopted by Juventus and Paris St. Germaine and comes during a wave of mainstream blockchain adoption. Just this week, Jaguar Land Rover inked a deal with cryptocurrency platform IOTA.  West Ham United is proud to announce a partnership with @socios, the blockchain-based fan…

Nike, Facebook, and Now Jaguar: Big Corporations Going Crypto

In a further sign of endorsement for the crypto industry, Jaguar Land Rover (JLR) Limited has announced the testing of a crypto payment system. Details released show the development of a smart wallet that allows users to earn while on the road. The system will use IOTA, which developers say has the advantages of a zero fee network and inherent scalability. JLR And IOTA, Another Coup For Crypto The car industry has suffered many upheavals in recent times. From diesel-gate to exploding airbags, not forgetting how the new kid, Tesla, is turning the industry on…

Rakuten Taps Chinese Blockchain Firm for $60 Billion Authenticity Market

By CCN: In 2008, at least 54,000 Chinese babies suffered after ingesting formula that had been contaminated. Demand for safe products has grown year over year, every year, since then. Companies like blockchain-centric Techrock have capitalized on this market by finding unique solutions to the authenticity problem. Techrock uses the blockchain to track every step of a product’s lifecycle and rewards consumers for verifying it through their mobile phones. Chinese Consumers Increasingly Willing to Pay a Premium for Authentic Imported Food In China, it is reportedly difficult to get authentic…

Pro-Bitcoin Ohio Bill Promotes Government Adoption of Blockchain

By CCN.com: A bill introduced this week in the Ohio House of Representatives urges government entities to adopt blockchain, the technology underpinning bitcoin. Republican state representative Rick Carfagna sponsored the bill. The legislation, called House Bill 220, is part of Ohio’s plan to provide a legal framework for distributed ledger technology such as blockchain (see text below). Rep. Carfagna did not return CCN’s calls for comment. The legislation would enable the establishment of a decentralized online record for transactions such as car titles or hunting licenses, according to Cleveland.com. Ohio…

Binance CFO Rips Facebook’s Blockchain Under Megalomaniac Zuck

By CCN.com: Facebook CEO Mark Zuckerberg is a megalomaniac who’s launching blockchain and cryptocurrency projects in order to squeeze crypto companies out of the dominance he eventually wants to assert over the space. That’s the opinion of Binance CFO Wei Zhou. Misguided bitcoin evangelists have been heaping praise on Facebook for experimenting with blockchain and for saying it might launch its own digital currency. They believe that having a massive multinational conglomerate like Facebook test out use cases for blockchain is lending legitimacy to the nascent industry. However, Zhou —…

Nike, Telegram, Facebook, and Everyone Else Suddenly Love Blockchain

By CCN: Nike is launching a blockchain product. Telegram is launching a blockchain. Samsung is reportedly planning to launch its own token platform; building with Ethereum for the S10 wasn’t enough. Facebook is getting into blockchain. Google still hasn’t done much with it, but JP Morgan now uses it. The list of major corporate names edging in on the crypto space is staggeringly long. Should we be excited or turned off? Big Deal or Nah? For one thing, the development of all these new tokenized platforms is a lot of…