Walmart is testing supply chain solutions to track lettuce, Spotify acquired Mediachain to test content licensing solutions, and Accenture is using the blockchain to add trust to insurance contracts. There is no doubt that blockchains will play a role in the technology roadmap of various enterprises. However, many blockchain-based production applications have one main inhibitor: scalability.
The pilot program is scheduled to be launched within the next six months, and will start in the city of Ulaanbaatar’s Nalaikh District, with plans to expand throughout the whole city. The article also states that the program within the Mongolian capital will contain both peer-to-peer payments and mobile payments.
IBM is steadily gaining ground in blockchain technology. Lately, blockchain technology has gained significant acceptability among financial providers due to its speed and security.
Some tobacco shops in France are beginning to sell bitcoin, in addition to items like cigarettes, lottery tickets and cigars, Reuters reported. Keplerk, a FinTech group in the country, helped six Paris-area tobacco stores offer the cryptocurrency for sale.
Bitcoin Daily: French Tobacco Shops Have Bitcoin For Sale; China Mobile Creates Blockchain Water Purifier
Bram Cohen’s newest creation, a cryptocurrency known as Chia which bills itself as ‘green money for a digital world’, is the very antithesis of bitcoin. Unlike bitcoin which uses the electricity-guzzling proof-of-work consensus mechanism, the chia cryptocurrency uses proof-of-space where the mining process uses the hard disk space.
BitTorrent Creator Aims to Kill Bitcoin with the Green Cryptocurrency “Chia”
Bitcoin, BTCUSD, -10.08% the world’s No. 1 digital currency, crashed through support at $3,500, falling more than 10% to a 15-month low at $3,230 on the Kraken exchange. A minor bounce has a single bitc,oin currently fetching $3265.00, down 9.3% since 5 p.m. Thursday.
“The blockchain is a unique distributed ledger or record that stores data and verifies its integrity. By using a various set of cryptography based technologies, Blockchain assures that transaction continued into the blockchain database which is stable.”