European car giant Volvo has announced it will start using blockchain-tracked cobalt in electric car batteries, having reached an agreement with Chinese and South Korean suppliers.
China-based CATL and South Korea-based LG Chem, also members of the blockchain network, will provide battery equipment for new Volvo and Polestar models for the next decade.
By deploying blockchain to track cobalt used in batteries, Volvo wants to prove to customers that the material is extracted in conflict-free zones and not in areas known to exploit child labour.
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Facebook has officially moved forward with its plans to create a new digital currency called Libra, despite several high-profile defections from the project and intense criticism from US regulators and politicians.
The Libra Association, the non-profit group that will govern the currency, officially signed 21 charter members on Monday at the organisation’s inaugural meeting in Geneva.
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A cryptocurrency mining giant that produces the chips used to generate most of the world's virtual coins is launching a data centre matching platform to help miners find the best locations to host their mining machines.
Bitmain, which currently dominates the crypto mining hardware sector, is seeking to extend its grip on the industry by helping hardware owners find the most economical locations to host their machines.
Presently there is no easy, centralised, way for mining farms to connect with miners who need facilities in which to host their rigs. As a result, farm owners typically have excess capacity that goes to waste.
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UK police have raised a pretty penny through the auction of Bitcoin and other cryptocurrency seized from a crypto trader and hacker.
On September 26, Irish firm Wilsons Auctions sold 62 lots of crypto from a stash that included Bitcoin, Ethereum, Ripple and Bitcoin Satoshi Vision.
It is the first time that UK police have auctioned off criminally-seized cryptocurrency.
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Blockchain outfit Blockstack has raised $23 million in a Securities and Exchange Commission-approved token sale, the first time an ICO has been approved by the regulator.
In June, the Commission granted the decentralised app platform permission to sell its tokens under Regulation A+ -- an exemption that allows smaller companies to raise up to $50 million from the public and not just accredited investors. Compared to traditional IPOs, Regulation A+ offerings have lenient disclosure requirements.
The former AWS employee who allegedly hacked Capital One bank in July has been accused of breaching the bank's cloud servers to mine cryptocurrency.
Paige Thompson - who went by the online moniker "erratic" - was indicted yesterday for stealing data from Capital One and 30 other entities, and has been charged with wire fraud, and computer fraud and abuse, according to Seattle court documents.
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The ICO has signed a joint statement with other data protection authorities calling for more information about how Facebook will use financial data The Information Commissioner’s Office (ICO) has raised privacy concerns over Facebook’s new digital currency, Libra. Information Commissioner Elizabeth Denham has signed a statement alongside counterparts from the US, Canada, Australia and the... Read More
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IBM has onboarded numerous Fortune 500 companies to the permissioned network IBM has partnered with enterprise blockchain specialist Chainyard on a blockchain network designed to improve supplier qualification, validation and life cycle information management. The permissioned-based data sharing network, called Trust Your Supplier, will store important business documents, including ISO certification, bank account information and... Read More
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Digital, Culture, Media and Sport Committee chairman Damian Collins fears Libra could be open to fraud, according to a report A probe into Facebook’s digital currency plans is being considered by MPs, it has been reported. Concerns have been raised over the social network’s intentions to start a cryptocurrency called Libra, which will be run... Read More
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A lot has happened since Satoshi Nakamoto penned his infamous Bitcoin whitepaper in 2009. At the time of writing, the price of Bitcoin now sits at just over $9,000, at its peak approacheing the lofty heights of $14,000. The cryptocurrency now boasts a market cap of $169 billion and commands 69 percent of the crypto market.
Aside from Bitcoin establishing itself as credible object of value, blockchain, the technology (or suite of technologies) that underpins the digital currency, has captivated businesses around the world. Many are investing astronomical sums to exploit what they perceive as the biggest technological disruptor since AI.
Blockchain hype is at fever pitch. According to analyst house Gartner, the technology will create more than $176 billion dollars worth of business value by 2025. At technology conferences around the world, blockchain ‘experts’ are urging organisations to move past Bitcoin and crypto obsession. The crypto arena is the playground of cranks and snake oil salesman, we’re told -- blockchain is the domain where serious technologists should focus their attention.
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In going beyond grains and gold, commodities have now taken on a new form in the age of personalisation. “Data is the new oil”, many have argued, and data has come to cement its position as the most valuable resource in the digital era.
From advertising to remittance, industries today benefit from the efficiencies offered by digitalisation, thriving on the seamless flow of information and the easy connections formed across stakeholders beyond borders.
Despite this ease, the next frontier appears to be in automation, as the resulting supply chain — across all sectors ranging from healthcare to finance, consumer goods to entertainment — has become hindered by the middlemen and third-parties.
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