Fairfax County Shifts Part of its Pension Funds to Blockchain Technology Investments

Fairfax County Shifts Part of its Pension Funds to Blockchain Technology Investments

A recent note from Jeff Weiler, Executive Director of Fairfax County Retirement Systems, revealed that the employees and Police Officers Retirement Systems have invested in distributed ledger technology (DLT) or simply blockchain technology; the same technology about which cryptocurrencies like Bitcoin, Ethereum, Litecoin etc. are based. A number of questions have been raised in order to understand this blockchain investment, and Weiler and the investment team have tried to answer many of them in the…

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General Motors Financial Teams Up with Spring Labs to Utilize Blockchain against Identity Fraud

General Motors Financial Teams Up with Spring Labs to Utilize Blockchain against Identity Fraud

General Motors Financial Company, Inc. – an operational wing of General Motors that provides customers finance and lending-related products and services – announced a new partnership with a blockchain-based company called ‘Spring Labs.’ The initiative was carried out as part of Spring Lab’s Spring Founding Industry Partners (“SFIP”) Program, which is aiming to utilize an improved data management standard to eliminate critical issues, i.e. identity verification and synthetic identity fraud, faced by the auto finance…

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Pistoia Alliance Moves to Next Stage of Blockchain Project with Data Sharing

Pistoia Alliance Moves to Next Stage of Blockchain Project with Data Sharing

The global non-profit organization of life science, Pistoia Alliance, has recently announced the launch of the next phase of its blockchain project, in which erudite members will utilize the venture to enhance the data identity, data sharing and data integrity in the domain of life science. This new development stage of the project will target the practical life science research and development (R&D) and seek the blockchain applications that deliver better returns on investment. The…

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Ripple has 11 New University Partners to Fund Blockchain Research and Education

Ripple has 11 New University Partners to Fund Blockchain Research and Education

Ripple is one of the most matured blockchain companies in the crypto space. They are known for their involvement in supporting academic research and development in the field as well. The firm showed its resolve to that commitment back in June 2018 by launching its University Blockchain Research Initiative (UBRI). The intention of this program was to accelerate academic research, technical development, and innovation in the blockchain, cryptocurrency and digital payments space. Ripple has committed over $50…

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Featured: Blockchain for Food May be the Solution for Food Safety

Featured: Blockchain for Food May be the Solution for Food Safety

One proposed use for blockchain technology is the tracking of food for food safety. You would think that in 2019, it’s already relatively easy to track our food from the plate, back to the farmer; however, you’d be wrong. Nothing highlights this more than the 2018 Romaine Lettuce E.coli outbreak. In November 2018, the Centers for Disease Control and Prevention in the US issued a statement, warning the public not to eat romaine lettuce. This blanket warning…

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Japanese Megabanks Abandon Blockchain P2P Remittance Joint Venture; Each Bank Goes Solo on Crypto

Japanese Megabanks Abandon Blockchain P2P Remittance Joint Venture; Each Bank Goes Solo on Crypto

Back in 2017, Japan’s three largest banking groups – Mizuho, SMFG, and MUFG – have started a joint venture of a blockchain-based peer-to-peer remittance service linked to mobile phone numbers email addresses. At the time, the global digital payment market was valued at USD $2,898.54 billion and is expected to grow to USD $6,490.72 billion by 2023 along with a CAGR of 13.7%, during the FYs 2018-2023. Moreover, the emergence of digital currencies & payment channels has…

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Facebook Acquires the Blockchain Startup Chainspace for its University College London Team

Facebook Acquires the Blockchain Startup Chainspace for its University College London Team

Social media giant Facebook has conducted its first blockchain acquisition. In May 2018 Facebook announced that they were launching a dedicated team to explore blockchain technology. The initiative was headed by David Marcus, the vice president of the Facebook Messenger app and former president of PayPal. Now it looks like Facebook is expanding its blockchain efforts by hiring the team behind Chainspace. Chainspace is a small blockchain software development company whose vision is to make…

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IBM and PIL Pilot a Blockchain-Powered Platform to Track Orange Shipments

IBM and PIL Pilot a Blockchain-Powered Platform to Track Orange Shipments

Food traceability is one of the most prominent issues of the market today. There is a special need for a solution that can help improve the current environment and provide true traceability and transparency. Blockchain can help with that, as proven by the recent successful pilot project by Pacific International Lines (PIL) that collaborated with IBM to track orange shipments to China using blockchain for the Chinese new year. Pilot exercises like these can prove…

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Crypto Wallet in Samsung Pay: Samsung Galaxy S10 may Come with a Crypto Wallet

Crypto Wallet in Samsung Pay: Samsung Galaxy S10 may Come with a Crypto Wallet

Over the years, Samsung has proven to be especially concerned with bringing innovative solutions to our fingertips. That’s right. And this time the company plans on taking their payment app, Samsung Pay, up a notch by equipping it with the ability to store cryptocurrencies. The tech giant filed for a crypto-related patent in 2018 and hopefully will be including a crypto wallet application – Samsung Blockchain Keystore – to the soon-to-be-released Samsung Galaxy S10. This…

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Fujitsu Boasts 40% Higher Efficiency for Blockchain-Powered Electricity Exchange

Fujitsu Boasts 40% Higher Efficiency for Blockchain-Powered Electricity Exchange

Innovations powered by blockchain are coming to light every day, and new uses of the distributed ledger technology are being realized regularly, allowing blockchain to seep into every part of life. Now, the Japanese IT giant Fujitsu has developed a blockchain-based system for electricity exchange between enterprise consumers that aims to facilitate a more stable energy supply at peak periods. The news was announced by Fujitsu on Wednesday. Fujitsu said that they had collaborated with…

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