Samsung to Seek Collaboration With Platform Firms on Blockchain Innovation and 6G

The vice chairman of South Korean consumer electronics giant Samsung says the firm will seek to collaborate with platform companies on the development of blockchain, artificial intelligence and sixth-generation mobile networks. The news was reported by Bloomberg on June 16. The vice chairman, Jay Y. Lee — who reportedly serves as the firm’s de facto leader — held discussions with Samsung executives to discuss the potential collaborations last week, according to a company statement cited by Bloomberg. A platform company is an initial acquisition by a private equity firm for…

Japan Data Initiative Brings Blockchain Security to 100 Major Businesses

A data-sharing initiative involving one hundred of Japan’s biggest companies will use blockchain for its security, English-language news outlet Nikkei Asian Review reported on June 17. The project, which will commence in spring 2020, aims for participants to share production data in order to enhance overall efficiency. Its controller is the Industrial Value Chain Initiative, an industry organization formed four years ago by manufacturers interested in the Internet of Things (IoT). Among prospective participants are DMG Mori, Mitsubishi Electric and Yaskawa Electric. “Blockchain […] is expected to lower the risk…

Russia Is Getting Serious About Blockchain, but Remains on the Fence About Cryptocurrencies

Last week, an annual forum featuring Russia’s top people from the economic sector was held in St. Petersburg, and cryptocurrencies were a hot topic there. Notably, government agents and state-controlled businesses were vocal about their interest in blockchain, but seemed to distance themselves from digital tokens. Meanwhile, the regulatory framework for cryptocurrencies is still missing in the country, despite the fact that local authorities have been tasked to prepare the needed amendment a while ago. So, where is Russia heading in terms of crypto and blockchain? Brief introduction to Russia’s…

Appetite for Blockchain Tech Builds Among Korean Banks, but Without Crypto

In recent weeks, major South Korean financial institutions have rolled out a number of services incorporating blockchain technology, especially in the areas of Know Your Customer (KYC) procedures and security. Fintech has become a buzzword for local banks trying to keep up with the change of the times. The banks, however, are not looking into an important part of blockchain, which is digital assets, says one influential Korean advocate of alternative currency. In order to assess the Korean blockchain space, it is important to understand how the trend affects existing…

Blockchain Developer Dispatch Labs Suffers Losses Despite Market Recovery

Blockchain company Dispatch Labs is incurring considerable losses despite extensive investment and a recovering cryptocurrency market, technology-focused news outlet Cryptobriefing reported on June 14. Initially, Dispatch Labs received funding from its executive team, subsequently raising over $13 million in a series of private rounds from other investors such as China-based capital firm Fenbushi Capital during the first half of 2018. However, the value of the raised capital slumped considerably following the market drop in the first quarter of the year. The company’s CEO Matt McGraw reportedly said that the team…

New Report Reveals Details of Telegram’s TON Blockchain

A new report on the Telegram Open Network (TON) by Russian research agency Aton — published today, June 14, on Cointelegraph — reveals new details about one of the most anticipated projects in the crypto space. TON is a blockchain platform developed by encrypted instant messaging service Telegram, which is widely regarded as one of the primary means of communication within the blockchain and crypto community. The blockchain network reportedly aims to gain wide usage due to the active, crypto-friendly Telegram community. According to the report, TON will facilitate internal…

Jack Dorsey Expects Crypto, Blockchain to Be a ‘Secular Trend’ in Finance

By CCN Markets: Jack Dorsey is all in on bitcoin. The tech entrepreneur, who is at the helm of both Twitter and Square, recognizes that cryptocurrency and the blockchain will become a “secular trend” in financial services going forward, according to an interview he did with Quartz in London. He doubled-down on his belief that there will be a “global currency for the internet,” and bitcoin remains the “strongest candidate” for the job. Dorsey likens the internet to the “equivalent of a nation state,’ saying that “it will have a…

Brazil’s President Rebuffs Cryptocurrency as Administration Explores Blockchain

Brazil’s President, Jair Bolsonaro, has come out publicly in opposition to bitcoin. In an interview aired on national television, the Brazilian president commented on cryptocurrency being used to bank indigenous people in Brazil. During a conversation centered on the challenges of his new presidency, Bolsonaro talked about projects created by his predecessor’s administration. One of the efforts was a $11.5 million project that aimed to create an “indigenous cryptocurrency”. “We are cutting expenses. We were about to use 40 million Reales to teach natives to use bitcoin,” he said. In…

IBM, Maersk’s Blockchain Platform TradeLens Is Shipping to Russia

A blockchain-powered platform built by IBM and Maersk and designed to facilitate international trade is to launch in Russia. According to a June 6 news release from Maersk, the Danish shipping and logistics giant, agreement has been reached with Russian authorities for the TradeLens platform to operate in the country, starting with a pilot project alongside the country’s primary container gateway, the port of St. Petersburg. TradeLens allows container logistics industry participants to have a shared view of shipping transaction data, with member firms acting as nodes to support the blockchain system. With the…