Lufthansa Announces Global Blockchain Challenge for the Aviation Industry

Lufthansa Innovation Hub (LIH) and the SAP.iO Berlin Foundry have teamed up to launch the first ever Aviation Blockchain Challenge worldwide. Announced in a blog recently, the challenge seeks to explore potential opportunities and drive adoption of Blockchain technology in the airline industry. The Challenge According to the reveal announcement, application of blockchain technology in finance currently dwarfs what is obtainable in the Travel and Mobility Tech scene. In order to change this, the challenge aims to attract the most talented blockchain entrepreneurs from all over the world and give them an…

Malta Regulator Tells Blockchain Companies to Wait Before Applying for Approvals and Authorization

The Malta Financial Services Authority (MFSA) said in a statement that blockchain companies have to wait until a recently passed framework comes into force before applying for approvals and authorizations, news outlet Times of Malta reported July 20. In a statement issued today, the MFSA said it is developing a new framework that will back recently-passed blockchain laws, so operators must wait for a public announcement from the agency before filing a request for approvals and authorizations. The Virtual Financial Assets Act (VFAA), which the Parliament of Malta passed on…

Blockchain Phones Calling the Future of Telecommunications

The emergence of blockchain technology has piqued the interest of a number of different sectors across global society. From finance, politics, economics, automotive and technology, blockchain is starting to take root. It is now being seen that communications could be the latest sector to benefit from this technological revolution. There has been a predictive report that came out on July 11 from Marketwatch that is suggesting that blockchain technology will contribute as much as $1 billion to the telecommunications sector in the next five years. When delving deeper into the…

100 ‘Mainstream Media’ Establish ‘Global Media Blockchain Alliance’

The Global Media Blockchain Alliance has been established in Hong Kong to create a “healthy public opinion environment” for the blockchain industry, Taiwanese newspaper China Times reports July 20. At the 2018 Global Media Blockchain Summit, held in Hong Kong July 19, the Global Media Blockchain Alliance released its “Hong Kong Initiative.” In it, they underlined the unique role of the media in providing high-quality information about the blockchain industry to the public, People’s Daily reports The Global Media Blockchain Alliance has been established by an association of more than…

EOS Leads China’s Blockchain Rankings Again, Bitcoin Still Out of Top 15

The Chinese government has released its third round of public blockchain rankings, and EOS — the fifth-largest cryptocurrency by total market cap — once again reigned supreme. EOS Tops China’s Blockchain Rankings for Second-Straight Month Those rankings, published by the state-backed China Electronic Information Industry Development (CCID) and released this week, evaluated public blockchain networks according to three metrics, roughly translated as technology, applicability, and innovation, which were then compiled into an overall index score. Though scoring below its peers on applicability (middle column), EOS led the rankings with an…

World’s Number Four Telecoms Provider Files Blockchain Contract Storage Paten

The world’s fourth-largest telecoms provider, Japan’s Nippon Telegraph and Telephone (NTT), has filed a patent for using blockchain tech for contract agreement, according to a U.S. Trademark and Patent Office (USPTO) release on July 19. NTT’s patent application writes that a problem with contracts on blockchain is that each transactions “contains only the electronic signature of the sender” as the “evidence of contract agreement by the receiver is not left in the transaction.” The patent suggests a “simple, possible way to solve this problem is to, for example, include the…

JPMorgan Wants to Use Blockchain to Issue ICO Tokens

American investment banking giant JPMorgan Chase is pursuing a patent for a distributed system that uses blockchain technology to issue virtual depository receipts that sound suspiciously like initial coin offering (ICO) tokens. JPMorgan Wants to Host IPOs on a Blockchain The patent application, filed by JPMorgan in January and published by the U.S. Patent & Trademark Office (USPTO) on Thursday, outlines a method whereby users on a distributed network such as a blockchain can tokenize assets and trade these virtual depository receipts. To create a security token, an originator such…

Crypto, Blockchain Mass Adoption Is ‘5 to 6 Years Away’

Former Wall Street executive Mike Novogratz has recently predicted that mass adoption of crypto and blockchain is “still five to six years away,” Blokt blockchain and tech news outlet reports July 19. Speaking at the Beyond Blocks conference in South Korea, Novogratz, CEO and founder of crypto investment firm Galaxy Digital, still expressed confidence that many institutions will come into the industry “in the next two to three years,” claiming that “without that, we will be running in circles.” However, the mass adoption of crypto and blockchain technology will come…

Barclays Pursues Blockchain Patents to Create Digital Currency Network

Barclays, the UK’s biggest bank, has applied for three U.S. patents that collectively outline a system that uses blockchain technology to combine the pseudonymity of cryptocurrency with the legacy financial system and its KYC/AML regime. The London-based bank first applied for the three patents in July 2016, though they were only published by the U.S. Patent & Trademark Office (USPTO) on Thursday. Create & Destroy Digital Currency Units In one patent, Barclays proposes a system that allows particular users on the network to create and destroy units of digital currency…

Barclays Files Two Digital Currency and Blockchain Patents with U.S. Patent Office

Barclays has filed two patent applications relating to the transfer of digital currency and blockchain data storage, both published by the U.S. Patent and Trademark Office (USPTO) July 19. The first patent describes a system for transferring digital currency from payer to recipient that would securely authenticate the identities of both, as well as validating and recording transactions using public-key cryptography and a digital currency ledger. Beyond currency transfer, the patent goes on to describe a wide range of use cases for securely and privately processing data in a trustless…