Ford Explores New Blockchain and Geofencing Tech to Lower Emissions

Ford Explores New Blockchain and Geofencing Tech to Lower Emissions

Ford Motor Company in Europe examines new innovative geofencing and blockchain technologies incorporated into the company’s new fleet of plug-in hybrid electric vehicles (PHEVs). Geofencing allows Ford vehicles to document, record and even automatically switch the emission modes according to regional weather or environmental conditions as well as emission-controlled zones, while blockchain technology enables secure and error free recording of vehicle emission data. Ford has introduced two versions of PHEVs called Transit Custom Plug-In Hybrid…

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Dubai Chamber of Commerce Partners with Major Local Bank for Blockchain Solutions

Dubai Chamber of Commerce Partners with Major Local Bank for Blockchain Solutions

Dubai Chamber of Commerce and Industry (DCCI) has partnered with the major regional bank Emirates NBD by signing a memorandum of understanding (MoU) to boost the development of the blockchain-powered Digital Silk Road initiative. Emirates NBD was the first bank in the region to launch a blockchain pilot in this domain and will dispense trade finance solutions to Digital Silk Road using the latest decentralized ledger technology (DLT). Dubai is planning to become a trade…

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Five Top Automakers to Introduce Blockchain-Based Vehicle Payment System

Five Top Automakers to Introduce Blockchain-Based Vehicle Payment System

A blockchain-based identification system is due to be launched in the U.S. markets, whose primary job will be to allow the drivers to pay their parking fees or highway tolls through a digital currency. The project has been undertaken by Mobility Open Blockchain Initiative (MOBI), an international consortium of prominent companies from the auto industry. MOBI is comprised of five key companies from the automobile industry to finesse this concept; they include BMW, Ford, General…

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Blockchain Firm Blocko Partners with UAE to Launch Aergo Platform in the Middle East

Blockchain Firm Blocko Partners with UAE to Launch Aergo Platform in the Middle East

The South Korean blockchain-focused firm Blocko has finally launched its newly-developed hybrid public-private blockchain, Aergo, in the UAE through a strategic partnership with the SEED Group, a member of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum. Blocko has already raised $16M through two separate funding rounds in which South Korea’s Shinhan Bank and KEB Hana Bank, LB Investment and Dadam Investment were the top participants. Blocko’s plan is to scale up in…

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The US Department of Homeland Security Awards 143K to Blockchain Security Firm

The US Department of Homeland Security Awards 143K to Blockchain Security Firm

The Austria-based company Danube Tech GmbH secured over $143K from the Department of Homeland Security (DHS) Science and Technology Directorate (S&T) for enabling interoperability between blockchains for multiple credential data formats. Implementing this new security functionality for blockchain will help the DHS to combat forgery and counterfeiting in immigration and citizenship documents. The company is working on developing technology in the field of digital identity and personal data, including personal agents, semantic graphs, and decentralized…

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New US Congress Bill: FinCEN to Examine Blockchain Utilization

New US Congress Bill: FinCEN to Examine Blockchain Utilization

US Congress has passed this week the “Advancing Innovation to Assist Law Enforcement Act.” The Act is requiring the financial crime watchdog, Financial Crimes Enforcement Network (FinCEN), to study the use of blockchain technology in the digital world. More specifically, the director of FinCEN has been directed to conduct a thorough study on the implementation and use of blockchain technology in order to improve the existing safeguarding mechanisms for the prevention of financial crimes. The…

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Report: Blockchain Devices Market to Grow to $1.3 Billion by 2024

Report: Blockchain Devices Market to Grow to $1.3 Billion by 2024

According to a recent report, the blockchain devices market is estimated to grow at a compound annual growth rate (CAGR) of 42.5% in the next 5 years. Growth at this rate means that there would be an increase in the market value from $218 million to $1.285 billion for blockchain devices. This sudden surge in the market can be explained by recent interest in blockchain technology by organizations, use of technology in retail and supply…

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OCBC Becomes First Singaporean Bank to Join JPMorgan’s IIN Blockchain Network

OCBC Becomes First Singaporean Bank to Join JPMorgan’s IIN Blockchain Network

Oversea-Chinese Banking Corporation (OCBC), the second-largest bank in South East Asia by assets, has become the first top tier bank of Singapore to join JPMorgan’s Interbank Information Network (IIN), JPMorgan’s live blockchain service specifically developed for cross-border transactions. According to the Business Times Singapore, there are plenty of banks from the Asia-Pacific that have already signed up for the IIN, and Singapore’s OCBC is going to be one of them. The majority of these banks…

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Multinational German Bank Deutsche Joins JPMorgan’s Blockchain Payment Network

Multinational German Bank Deutsche Joins JPMorgan’s Blockchain Payment Network

The multinational German investment bank, Deutsche Bank, is joining JPMorgan’s blockchain-powered cross-border payment messaging system, also known as Interbank Information Network (IIN). The aim of JPMorgan’s growing blockchain network is to counter the inefficiencies of the SWIFT payment system. SWIFT payments are cross-border transactions that are sent via SWIFT international payment network. It is one of the largest financial messaging systems in the world, which consists of 11,000 banks. IIN aims to provide a seamless…

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Banco Santander Becomes the First Ever Bank to Issue a Blockchain-Backed Bond

Banco Santander Becomes the First Ever Bank to Issue a Blockchain-Backed Bond

Banco Santander has announced that it has successfully issued a bond that is backed by end-to-end blockchain, and possibly revolutionizing the bond technology. The news was revealed on September 12th through a press release issued by the bank itself. As stated in the press release, the technology behind the bond consists of the Ethereum (ETH)trade blockchain. Since this is an open source technology, it ensures that the bond is tokenized and registered without facing any…

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