Off the Blocks Vol. 29, Aug 21, 2018
|Aug 22, 2018||Public post|| 1|
Off The Blocks
Volume 29, Aug 21, 2018
This week we finally have a name for our newsletter: "Off the Blocks"
At Proteum, we are dedicated to understanding tomorrow's "Internet of Value" and the stories highlighted by this newsletter are usually at the very beginning of a new tech or business model uniquely enabled by blockchains. It is worth every executive's time to map their blockchain strategies and get an overview of the rapidly changing tech, business and regulatory landscape.
Quote of the Week
“Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.”
- Vitalik Buterin, co-founder Ethereum and Bitcoin Magazine
Earlier this year, five prominent healthcare organizations—Humana, MultiPlan, Quest Diagnostics, and UnitedHealth Group’s Optum and United Healthcare—announced they would be launching a blockchain-based pilot program with the aim to improve healthcare data quality and reduce administrative costs.
This healthcare story talks about the impact of this new initiative, what the greatest use cases are for blockchain in healthcare today, and how quickly providers and payers might start moving into full-scale projects. A simple use case is to ensure that the most current healthcare provider information is available in health plan provider directories.
What makes blockchain so relevant is also its greatest challenge: the interdependence of its attributes. It is impossible to focus solely on one desired feature without understanding and accounting for the interaction of all the attributes of blockchain. Small design choices can have resounding ethical consequences for people and communities.
The key takeaways (1) Blockchain is all about creating distributed, tamper-resistant databases (2) Cryptocurrency represents only a tiny percentage of blockchain applications (3) Not everyone needs a blockchain, but enterprise use cases abound (4) More than half of the Fortune 500 are currently running blockchain pilots (5) Issues with scalability, privacy, and interoperability remain (6)The time to get started with blockchain experiments is now.
After Malta announce their ambitions of becoming a "Blockchain Island", the race for the tag is heating up. The Jeju Island just off the coast of the Korean Peninsula is eyeing becoming a favorite destination for blockchain and cryptocurrency enterprises. Policy officials in the Island’s government administration have begun preliminary deliberations on how to achieve the goal.
Ripple wants to target the Chinese market with its distributed ledger technology designed to speed up cross-border payments. If it were to seek an entry into the Chinese market, Ripple's focus would unlikely be on advancing the adoption of cryptocurrency XRP, as Beijing has clamped down on the trading of virtual currencies.
According to a 2011 UN survey, around 1/3 of all food produced worldwide is wasted. Only in the wealthy countries does the waste occur on the consumer side—most of it happens in the production and distribution stages. The total value of the lost food is almost 1 trillion dollars. and the wasted food in Sub-Saharan Africa alone would be sufficient to feed 300 million people. This article looks at the major agricultural projects.
Canadian financial firm BMO Capital Markets is working with the Ontario Teachers' Pension Plan on a new blockchain pilot. The transaction included Bank of Montreal as the issuer and Ontario Teachers' as the buyer of a CDN $250 [million] 1-year floating rate Deposit Note, making it the first Canadian dollar fixed income issuance demonstrating the viability of blockchain platform
The UEFA Super Cup is the traditional curtain raiser for the European soccer season, pitting the UEFA Champions League and UEFA Europa League champions against each other. The 2018 edition in Tallinn, Estonia saw Atletico Madrid defeat city rivals Real Madrid 4-2. But there was a development off the pitch that could be considered just as significant for sporting organizations – the use of Blockchain powered mobile ticketing for every spectator.
Traceability of beef is of utmost importance. The idea is that the data from a tag would stay with the beef all the way to the shelf, so a consumer could scan a code and see the information. The international market demands this kind of transparency.
With blockchain, data like what the cattle eats, what type of vaccines it has received, and if it was ever sick will be available for anyone to see. So Wyoming ranchers who are turning to this technology believe they can brand their beef as superior.
Proteum is global blockchain advisory firm that works with public, private and start-up companies to help them transition into the world of blockchains and decentralized applications. We help companies strategically build their capabilities so that they can own and control their future. Let's put blockchains to work for your business.
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