The Corona pandemic prompted many Asian countries to adopt blockchain technology to secure their data via the Internet against hackers and cyber thieves, according to a report from the Nikkei Asian Review. This increase in adoption comes as The Business Research Company said the global blockchain market is expected to hit $15.88 billion in 2023….
Indian Crypto Exchange WazirX to Enter DeFi Amid Uncertain Regulations
One of the leading cryptocurrency exchanges in India, WazirX, today said they are gearing up to develop and launch their first decentralized finance product in partnership with the Matic network. In an announcement shared with Cointelegraph, the company said they will launch an automated market maker (AMM) protocol. Nischal Shetty, the CEO of WazirX, shared…
South Africa’s Diamond Polishers Shine in Lockdown
South Africa’s diamond industry, famed for sales the world over, is looking closer to home to revive its fortunes following the coronavirus slump. Even before the new virus triggered the COVID-19 pandemic, diamond prices and demand were weak. Global economic weakness has exaggerated that and Anglo American’s De Beers unit last week reported a plunge in earnings.
Investing In Wine Through Vinovest App
It’s a cellar’s market. For ages, savvy oenophiles have made huge sums off smart investments of collector bottles. A new platform, Vinovest, is looking to woo greener drinkers by guiding users through investing in managed portfolios of investment-grade fine wines. Fine wine is generally a precarious market to invest in. The $5-billion dollar resale market is unfriendly to those without deep wine knowledge and monetary resources. There are broker fees and auction house commissions for authenticating wines (the wine industry has an infamous forgery market, best documented in the 2016 film Sour Grapes). Wines must be kept in climate-controlled rooms; costly to install and maintain.
Coca-Cola Embraces DLT and Ethereum for Supply Chain Efficiency
The partner of Coca-Cola’s largest U.S.-based bottling company is expanding its use of blockchain to enhance efficiency across the beverage company’s supply chain. Coke One North America, or CONA, a partner of the largest United States-based Coca-Cola bottling company, will use The Baseline Protocol to enhance transparency and reduce friction in “cross-organization supply chain transactions.”…
Toshiba’s Megawatt Hydrogen Powered Fuel Cells Have Enough Juice To Power A Factory
Toshiba is set to roll out a hydrogen powered fuel cell system capable of generating enough electricity to power 1,000 homes, or an entire factory or hospital in a boost to a government push of the zero-emission energy source. Toshiba Energy Systems & Solutions has developed a 1 megawatt system consisting of at least 10…
PayPal and Venmo to Roll Out Crypto Trading
Fintech giant PayPal plans to roll out direct sales of cryptocurrency to its 325 million users, according to three people familiar with the matter. Currently, PayPal can be used as an alternative means for withdrawing funds from exchanges such as Coinbase, but this would be a first in terms of offering direct sales of crypto. “My understanding is that they are going to allow buys and sells of crypto directly from PayPal and Venmo,” a well-placed industry source told CoinDesk. “They are going to have some sort of a built-in wallet functionality so you can store it there.”
Cambodia To Introduce A Blockchain Based Digital Currency
After three years of development, the National Bank of Cambodia has revealed the technical details of its upcoming blockchain-based payments system dubbed ‘Project Bakong’ this month. Cambodia’s central bank began developing Project Bakong since 2017, and is seen as a high-tech relaunch of the Khmer Riel, which is the kingdom of Cambodia’s official currency but is significantly lesser used by the people in favor of the US dollar, according to the recently published whitepaper.
Petra Diamonds Puts Up for Sale as $650 Million Debt Looms
PETRA Diamonds said on Friday it would seek offers for the company after concluding a strategic review aimed at finding ways to repay $650m in debt. An option would be to sell certain assets in the group which largely consist of South African mines bought over the years from De Beers, including the famed Cullinan mine. The London-listed company said on Friday it had “… decided to seek offers for the company, or for parts of the business or assts of the Petra Diamonds group”. The strategic review was conducted with Rothschilds & Co, a bank.
Australian Securities Exchange Delays Switch To Blockchain Till April 2022
The Australian Securities Exchange (ASX) has further delayed its switch to blockchain after public lobbying from key stakeholders. According to a June 30 update from the ASX, the exchange has officially delayed the rollout of Distributed Ledger infrastructure to replace its current system for processing equity transactions. ASX will now release the project — the…
Diamonds Sales Boom During Lockdown
Diamonds have enjoyed a boom in sales during lockdown with some wealthy investors seeking to lift their spirits with a sparkling new precious stone. Recently, a multi-coloured ‘Tutti Frutti’ diamond bracelet made by Cartier in 1930 sold for £1.1million at an online Sotheby’s auction. It comfortably beat the £650,000 estimate despite the New York auction only being open to internet bidders. Yet although diamonds can represent a good investment, they are not for the faint-hearted.
Israeli Blockchain Startup Kirobo Invents Undo Button for Bitcoin Transactions
Kirobo, a two-year-old Israeli blockchain startup, announced on Tuesday that it has found a way to tackle problems related to human error in cryptocurrency transactions. In a recent survey by the Fio Foundation, 55% of respondents reported experiencing stressful human errors when sending cryptocurrency, and 18% reported loss of funds due to such errors. As such, Kirobo has invented “Retrievable Transfer,” a way for senders to cancel a transaction that is sent to the wrong address. Kirobo provides a unique code to the sender and the receiver has to enter the matching password in order to receive the transfer.
