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Blockchain: Last Week Updates. #SDdigest

05.11.2018 — 0

  • Australian 209-year-old “snail mail” delivery service is using digital identification technology to enable cryptocurrency exchanges to carry out KYC checks in a matter of minutes, thereby vastly simplifying the process of purchasing crypto in Australia.

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Using Australia Post’s "Digital iD" service, Australian crypto buyers no longer have to spend days waiting for exchanges to verify their uploaded identity documents and photos before permitting them to trade.

"We are devoting significant resources to how we might provide audit services in not just cryptocurrency, but blockchain. Our global team of experienced business, technology and regulatory leaders can help you identify how blockchain can benefit your organization and how to rapidly move these initiatives forward."

  • CryptoKitties creator has now raised almost $75,000 per daily active user, overall $15 million from a few venture capital firms including funds run by heavyweights Google and Samsung in order to expand operations.

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  • In an official statement, the Ukranian government confirmed its plans to establish regulatory frameworks to legalize crypto in Ukraine. The Economic Development and Trade Ministry in Ukraine released a new state policy and two stage plan to oversee various cryptocurrency-related sectors which will be put in full effect by the end of 2021.

  • US banking giant JPMorgan Chase Bank’s blockchain, Quorum, will be used to "tokenize" gold bars. Quorum is the enterprise version of Ethereum that works on smart contracts.

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Explanation how gold bars are tokenized:

A gold bar is wrapped into a tamper-proof case electronically tagged, that allows to track the gold bar from the mine to endpoint – with the use case being, if you know it’s a socially responsible mine, someone will be willing to pay a higher spread on that gold versus if you don’t know where it comes from.

  • New effort to tackle global ocean plastics crisis uses blockchain. Household supplies multinational SC Johnson has announced a pioneering partnership with Plastic Bank, a plastic waste recycling startup, to tackle the threat of global ocean plastics by increasing the rate of recycling across less privileged areas of Indonesia.

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Collection centres with a minimum capacity of 100 metric tonnes of plastic per year will be operational by May 2019.

  • According to new research from major US bank Morgan Stanley. Bitcoin and altcoins are new institutional investment class.

Have a nice and productive week! See you next Monday!

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