1. ‘Big Four’ Exec Says Privacy Is Key to Enterprise Blockchain Adoption
A senior executive at Big Four auditor Ernst & Young (EY) thinks blockchain will revolutionize commerce – if the community can solve its privacy issues. “Blockchain is going to be the tool that ties together not just individual companies, but whole business ecosystems and networks,” says EY global innovation lead Paul Brody. “Enterprises will not go on to the public mainnet without privacy and security.”
2. Enterprise Blockchain Is Having an Optimistic Year
new survey from Deloitte Insights examines the state of global blockchain adoptions and how companies all over the world are viewing the technology. The distributed ledger technology is finding footing in enterprise use cases beyond cryptocurrency and is making its way into supply chains, cybersecurity, and even automotive applications. The new research from Deloitte highlights a growing confidence in the technology, but also highlights some challenges and major concerns.
3. Enterprise Blockchain Projects
Six Common Missteps – In emerging technologies, blockchains seem like they are the next big thing. However, proofs of concept typically fail to get past the first experimentation phase. Learning from earlier failures and the mistakes that were made is key for enterprises. The best way to learn from mistakes, is by learning from others. This guide has been constructed to highlight six common mistakes that are made frequently by enterprises.
4. GovTech | Blockchain’s Effectiveness Relies on Breaking Down Tech Barriers
The challenge with blockchain technology is the potential for the development of “walled gardens,” or closed technology platforms that do not support common standards for security, privacy and data exchange.
Leaving the walls in place would limit the growth and availability of a competitive marketplace of diverse, interoperable solutions. – William N. Bryan Senior Official, DHS
The Science and Technology Directorate (S&T), the science adviser and research and development arm of the Department of Homeland Security, is pursuing two broad courses of action to encourage an open and inclusive future for blockchain technology, and paths that can be followed by any agency:
1. We actively work with and support DHS component agencies to understand their potential use cases and help them achieve their outcomes with the necessary research and development expertise.
2. And we support the development of globally available specifications that are open, royalty-free and free to implement to ensure interoperability across systems and prevent vendor lock-in.
5. FinTech | Vanguard Developing Blockchain Platform for $6 Trillion Forex Market
Mutual fund giant Vanguard has partnered with Nasdaq Ventures-backed blockchain startup Symbiont to develop a trading platform for the $6 trillion currency market. The new platform is part of the fund manager’s commitment to lowering the cost of investing for all investors. New York-based Symbiont actually worked with Vanguard on a project related to its index funds before the currency trading platform, helping the fund manager in 2017 streamline its index fund data collection process with its patented smart contract technology. The blockchain firm is focused on its smart contracts platform for institutional applications of its blockchain platform Symbiont Assembly to help build networks where multiple independent entities can share data and logic in real-time.
6. Regulations | SEC Stops Telegram’s $1.7 B Token Offering
The U.S. Securities and Exchange Commission today filed an emergency action and obtained a temporary restraining order against Telegram and its subsidiary, TON Issuer Inc., halting a token sale that has raised more than $1.7 billion globally since January 2018. Telegram, a U.K.-based instant messaging platform, sought to finance the creation of the Telegram Open Network (TON) blockchain by selling digital tokens called Grams. The SEC says this represents the sale of an unregistered security.
We have repeatedly stated that issuers cannot avoid the federal securities laws just by labeling their product a cryptocurrency or a digital token. Telegram seeks to obtain the benefits of a public offering without complying with the long-established disclosure responsibilities designed to protect the investing public. – Steven Peikin, co-director of the SEC’s Division of Enforcement
7. Libra | Libra Loses One More Member As Its Council Becomes Official
Facebook couldn’t avoid losing another Libra Association member before it formalized the cryptocurrency’s council. Booking Holding, the company behind Booking.com, Kayak, and Priceline, has withdrawn from the Libra Association just before the organization’s members signed the council charter, elected its Board of Directors and appointed executive team members. The move leaves 21 initial members, including Facebook’s own Calibra wallet as well as Lyft, Uber, Spotify, and telecoms like Iliad and Vodafone. PayPal, eBay, Mastercard, Visa, and Stripe were some of the most prominent companies to pull out, each of them leaving within days of each other. Not that Facebook is deterred. Libra Association policy head Dante Disparte told Reuters that the departures were a “correction” and “not a setback.” The outfit also touted the number of potential members that could fill the exiting partners’ shoes, noting that about 180 entities met the initial membership requirements.
8. Automotive | BMW, General Motors, Ford to Test Blockchain Payments in Cars
Five major automakers — BMW, General Motors, Ford, Renault, and Honda — will start testing a blockchain car identification and payment system next month in the United States. The partnership aims to test the vehicle ID system developed under the Mobility Open Blockchain Initiative. As part of the project, cars are assigned digital IDs linked to ownership, service history and a wallet allowing the vehicle to automatically pay fees without specialized hardware. The alliance reportedly envisions the system being applied to connected electric vehicles so tolls, maintenance, and rest stop purchases, for example, can be recorded and paid automatically when the car is plugged in to charge its battery.
9. Blockchain: The Next Big Disruptor in Space
Within the global space industry, existing and new space innovators seek to capitalize on blockchain’s promise in the race to Low-Earth orbit (LEO), creating new opportunities for collaboration, new satellite-as-a-service business models, and new ways to manage the space supply chain and even how to build payloads.
10. The Final Word | Blockchain developers announce OpenLibra, a permissionless alternative to Facebook’s Libra
The co-founder of blockchain startup Wireline, Lucas Geiger, announced Tuesday “OpenLibra”, a permissionless fork of Libra, the controversial crypto network led by Facebook. Geiger announced the project at Devcon 5, Ethereum’s annual conference which was held in Osaka, Japan this week. The developers released a virtual machine that runs a permissionless version of Libra, called Movement, built on the Tendermint blockchain protocol. According to the firm’s website, OpenLibra is:
An alternative to Facebook’s Libra, that places emphasis on open governance and economic decentralization.
Amongst the issues the founders of the OpenLibra project have with Facebook’s network is that it is “distributed, but not decentralized,” that it is not permissionless, that it is without privacy guarantees, and this it is run by a “plutocracy”—a network of 27 ultra-rich companies including Mastercard, Visa, and Uber. By comparison, the OpenLibra project is run by “a loose collective of individuals.” including several employees from Wireline and Cosmos. It has no “association members”, “partners”, neither “employees” nor “leaders” it reads.