Volume 28, Aug 14, 2018
At Proteum, we are dedicated to understanding tomorrow's "Internet of Value". This newsletter is our weekly roundup of news we think is worth sharing for you to map your blockchain strategies, be aware of regulatory announcements and get an overview of the rapidly changing blockchain landscape.
Quote of the Week
“By harnessing blockchain technology, Dubai will be positioned at the forefront of legal-tech and judicial innovation, setting the standards for countries and judiciaries to follow”
- Amna Al Owais, CEO, Dubai International Financial Center Courts
Imagine if Venezuela successfully launches its state-issued digital currency, the petro, It would be perhaps one of the greatest ironies in history if blockchain — which was created in part to reduce or eliminate government controls — becomes an instrument of choice for authoritarian regimes.
Therefore, blockchains need trustworthy governance. For example, businesses in this space should develop standards of conduct and ways to enforce them. And businesses should standardize some aspects of the technologies. This would lower development and verification costs.
Several blockchain companies have begun leveraging the blockchain technology in creating a decentralized identity system commonly referred to as digital identity. With this framework, blockchain will allow for interoperability- the universal use of a digital identity created. Also with the level of security and trust the technology provides, it suffices to say, this might be the best way to go.
Blockchain continues to be the hottest trend in Asia, especially in China -- the global leader in terms of patent filing for blockchain -- where there is industry-wide debate on what the next big coin is after bitcoin and Ethereum. "Protocol is something even more fundamental than public chain."
The waste and recycling industries aren't always considered spaces that overlap with the tech sector. But some industry innovators are finding ways to successfully incorporate emerging blockchain technologies into their business models.
Securing the blockchain ecosystem is the most challenging cybersecurity problem right now. The blockchain itself might be secure, but that doesn’t mean that all the pieces that intersect with it – wallets, exchanges, miners, smart contracts – are secure. And many aren’t. Although the threat is primarily restricted to the public blockchain right now, the enterprise space will be next.
According to the World Bank, there are 40 countries and more than 20 cities, states and provinces that have either established or will soon implement a carbon pricing system, which includes cap-and-trade or a carbon tax. Further, nearly 13 percent of annual global greenhouse gas (GHG) emissions are now covered by carbon-pricing initiatives. While carbon reporting remains a significant hurdle for organizations, blockchain technology offers a solution to this challenge.
The mainnet for decentralized encyclopedia startup Everipedia is now live. The blockchain-based Wikipedia competitor announced the launch on Thursday, allowing users to earn its IQ tokens for adding or editing articles to the platform. These tokens, in turn, will let users participate and vote on network governance issues.
Blockchain-focused investors like Digital Currency Group (DCG) and Blockchain Capital (BC) are the most active investors in the cryptocurrency space. While all of DCG’s 97 investments are in blockchain-based businesses, and only one out of BC’s 59 investments isn’t related to blockchain.
Budding blockchain startup TRON has entered into a strategic partnership with smart toilet supplier Moshroom that culminate in the production of blockchain-powered lavatories. In many developing countries, people do not have easy access to clean and safe places to, err, do their business. The partnership aims to offer that – at a cost.
Blockchain in this instance is used to provide infrastructure for micro-payments – to pay for the use of one of these toilets. Moshroom will provide the toilet, Tron provide the blockchain.
This brings a whole new meaning to 'shitcoin'.
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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