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Applied Blockchain - May 2020 - Issue 01

Privacy has quickly risen to the top of the list, predominantly driven by Zoom’s rise in popularity as their user base has grown as the world entered lockdown. Their 90 day push for increased security on their platform has highlighted how digital services can adopt blockchain technology to facilitate end-to-end encryption. This coincides with WeChat’s (Tencent Holdings) announcement that they will be investing nearly $70 Billion in fintech development, including blockchain, to mirror Beijing’s call for new (digital) infrastructure. Regardless of investments in digital infrastructure, in response to a rise in demand, applied blockchain continues to find its place in large consumer facing products. The Italian government has demonstrated its faith in blockchain technology, through a $16.2 million investment to combat counterfeit “Made in Italy” products. This project outlines the value blockchain can deliver to provide a secure ledger of intellectual property rights and the authentication of goods and raw materials through the supply chain. Whilst this project deals in more tangible products, it demonstrates blockchain’s ability to protect the intellectual property of a brand. And lastly, the World Economic Forum have produced a timely toolkit designed to help enterprise plan and deploy a blockchain solution. The toolkit has been created from lessons learned from over +40 global supply chain use cases –Giving readers an idea of how many use cases are already in play.

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APPLIED
BLOCKCHAIN
Presented by the Blockchain Marketing Experts
MAY 2020 ISSUE 01
Our monthly round-up of the latest global news and
developments in the world of applied blockchain.
Learn More
2
APPLIED BLOCKCHAIN
Introduction – May 2020
In this month’s issue of Applied Blockchain:
LATEST NEWS
⁄ Zoom acquires Keybase to incorporate end-to-end
encryption
⁄ Lamborghini and Bitstamps announces a partnership to
produce a line of digital blockchain-backed stamps
⁄ Visa applies for digital dollar blockchain patent
⁄ IBM takes a 7% stake in trade finance blockchain network
we.trade
⁄ Made in Italy – Combating counterfeit products with
Blockchain ($16.2 million investment)
⁄ WeChat invests $70 Billion in Fintech, including Blockchain
and AI
REPORTS
⁄ IBM – Advancing Global Trade with Blockchain
⁄ R3 – Italian Banking Industry Case Study – Spunta
⁄ The Blockchain Research Institute – Blockchain Solutions
in Pandemics
⁄ World Economic Forum – Redesigning Trust Blockchain
Deployment Toolkit
3
LATEST NEWS
In this issue
OVERVIEW
Privacy has quickly risen to the top of the list, predominantly
driven by Zoom’s rise in popularity as their user base has
grown as the world entered lockdown.
Their 90 day push for increased security on their platform has
highlighted how digital services can adopt blockchain
technology to facilitate end-to-end encryption.
This coincides with WeChat’s (Tencent Holdings)
announcement that they will be investing nearly $70 Billion in
fintech development, including blockchain, to mirror Beijing’s
call for new (digital) infrastructure.
Regardless of investments in digital infrastructure, in response
to a rise in demand, applied blockchain continues to find its
place in large consumer facing products.
The Italian government has demonstrated its faith in
blockchain technology, through a $16.2 million investment to
combat counterfeit “Made in Italy” products. This project
outlines the value blockchain can deliver to provide a secure
ledger of intellectual property rights and the authentication of
goods and raw materials through the supply chain.
Whilst this project deals in more tangible products, it
demonstrates blockchain’s ability to protect the intellectual
property of a brand.
And lastly, the World Economic Forum have produced a timely
toolkit designed to help enterprise plan and deploy a
blockchain solution. The toolkit has been created from lessons
learned from over +40 global supply chain use cases – Giving
readers an idea of how many use cases are already in play.
4
APPLIED
BLOCKCHAIN LATEST NEWS
5
LATEST NEWS
Zoom buys the identity service Keybase
as part of 90-day security push
WHAT IS KEYBASE?
Keybase, a secure messaging and file sharing platform, has
laid out the challenge of end-to-end encryption for multiparty
video conferencing. Only a few large group video conferencing
platforms offer such end-to-end encryption. By comparison,
Facetime and WhatsApp, are two services that feature end-to-
end encryption, but can only do so for a couple of people at a
time.
WHAT DOES THE ACQUISITION MEAN?
Zoom’s acquisition of the crypto key directory Keybase is their
solution to bring end-to-end encryption for its paying
customers.
Zoom Press Release Keybase Press Release
This is a very timely acquisition at a time when Zoom has been facing
criticism for privacy and security issues.
This is part of the 90-day push Zoom embarked upon to make their
platform more secure, just as usage of the platform increased.
6
LATEST NEWS
Lamborghini and Bitstamps announces a
partnership to produce a line of digital
blockchain-backed stamps
WHAT IS BITSTAMP?
Buy, collect or resell digital collectible stamps exactly
as you would with a paper stamp. Each stamp issued by
BITSTAMPS is guaranteed as a unique and authentic
original thanks to the use of blockchain technology.
Lamborghini Press Release Bitstamp Press Release
APP BASED
Each stamp is a “single” digital object: its history and
uniqueness are guaranteed by blockchain technology. Via the
Bitsamp’s app, the stamp can be purchased, collected, or
resold exactly like a paper stamp.
Ad

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Applied Blockchain - May 2020 - Issue 01

  • 1. APPLIED BLOCKCHAIN Presented by the Blockchain Marketing Experts MAY 2020 ISSUE 01 Our monthly round-up of the latest global news and developments in the world of applied blockchain. Learn More
  • 2. 2 APPLIED BLOCKCHAIN Introduction – May 2020 In this month’s issue of Applied Blockchain: LATEST NEWS ⁄ Zoom acquires Keybase to incorporate end-to-end encryption ⁄ Lamborghini and Bitstamps announces a partnership to produce a line of digital blockchain-backed stamps ⁄ Visa applies for digital dollar blockchain patent ⁄ IBM takes a 7% stake in trade finance blockchain network we.trade ⁄ Made in Italy – Combating counterfeit products with Blockchain ($16.2 million investment) ⁄ WeChat invests $70 Billion in Fintech, including Blockchain and AI REPORTS ⁄ IBM – Advancing Global Trade with Blockchain ⁄ R3 – Italian Banking Industry Case Study – Spunta ⁄ The Blockchain Research Institute – Blockchain Solutions in Pandemics ⁄ World Economic Forum – Redesigning Trust Blockchain Deployment Toolkit
  • 3. 3 LATEST NEWS In this issue OVERVIEW Privacy has quickly risen to the top of the list, predominantly driven by Zoom’s rise in popularity as their user base has grown as the world entered lockdown. Their 90 day push for increased security on their platform has highlighted how digital services can adopt blockchain technology to facilitate end-to-end encryption. This coincides with WeChat’s (Tencent Holdings) announcement that they will be investing nearly $70 Billion in fintech development, including blockchain, to mirror Beijing’s call for new (digital) infrastructure. Regardless of investments in digital infrastructure, in response to a rise in demand, applied blockchain continues to find its place in large consumer facing products. The Italian government has demonstrated its faith in blockchain technology, through a $16.2 million investment to combat counterfeit “Made in Italy” products. This project outlines the value blockchain can deliver to provide a secure ledger of intellectual property rights and the authentication of goods and raw materials through the supply chain. Whilst this project deals in more tangible products, it demonstrates blockchain’s ability to protect the intellectual property of a brand. And lastly, the World Economic Forum have produced a timely toolkit designed to help enterprise plan and deploy a blockchain solution. The toolkit has been created from lessons learned from over +40 global supply chain use cases – Giving readers an idea of how many use cases are already in play.
  • 5. 5 LATEST NEWS Zoom buys the identity service Keybase as part of 90-day security push WHAT IS KEYBASE? Keybase, a secure messaging and file sharing platform, has laid out the challenge of end-to-end encryption for multiparty video conferencing. Only a few large group video conferencing platforms offer such end-to-end encryption. By comparison, Facetime and WhatsApp, are two services that feature end-to- end encryption, but can only do so for a couple of people at a time. WHAT DOES THE ACQUISITION MEAN? Zoom’s acquisition of the crypto key directory Keybase is their solution to bring end-to-end encryption for its paying customers. Zoom Press Release Keybase Press Release This is a very timely acquisition at a time when Zoom has been facing criticism for privacy and security issues. This is part of the 90-day push Zoom embarked upon to make their platform more secure, just as usage of the platform increased.
  • 6. 6 LATEST NEWS Lamborghini and Bitstamps announces a partnership to produce a line of digital blockchain-backed stamps WHAT IS BITSTAMP? Buy, collect or resell digital collectible stamps exactly as you would with a paper stamp. Each stamp issued by BITSTAMPS is guaranteed as a unique and authentic original thanks to the use of blockchain technology. Lamborghini Press Release Bitstamp Press Release APP BASED Each stamp is a “single” digital object: its history and uniqueness are guaranteed by blockchain technology. Via the Bitsamp’s app, the stamp can be purchased, collected, or resold exactly like a paper stamp.
  • 7. 7 LATEST NEWS Visa applies for digital dollar blockchain patent WHAT DOES THIS MEAN? Visa’s patent filing is for a fiat-linked cryptocurrency system using “a private permissioned distributed ledger platform.” It describes a central computer, its responsibilities, and key roles of the system: • Central entities • Validating entities • Redeeming entities • and Users Visa’s Patent Application Read the Forbes Article VISA SPOKESMAN QUOTE: “Visa has a vast global team of inventors and innovators working on cutting edge payment technologies. Each year we seek patents for hundreds of new ideas.” “While not all patents will result in new products or features, Visa respects intellectual property and we are actively working to protect our ecosystem, our innovations and the Visa brand.”
  • 8. 8 LATEST NEWS Visa applies for digital dollar blockchain patent HOW WOULD THIS WORK…IN THEORY? The central entity computer generates the digital currency that is recorded on a blockchain and “may determine that a particular digital currency unit should be added to or removed from the blockchain.” The filing also explains that the payment ecosystem may become 100% digital and “cash may be removed from the markets in a frictionless manner” to improve the payment ecosystem. “Users may hold digital currency with the same denomination as the local physical currency.” Visa’s Patent Application An illustration of the cryptocurrency system Visa is trying to patent. Source: Visa’s crypto patent filing with the USPTO.
  • 9. 9 LATEST NEWS Made in Italy – Combating counterfeit products with Blockchain PROTECTING A BRAND WITH BLOCKCHAIN Counterfeit “Made in Italy” products are sold in marketplaces around the world. The Italian government is now fighting back against these knockoffs by investing €15 million ($16.2 million) towards the development of a blockchain-based solution. In 2018, Forbes revealed that the counterfeit industry grew from $461 billion in 2013 to $1.3 trillion. The industry is expected to reach $2.8 trillion by 2022. Early reports indicate the program will improve certain sections of the industry, such as: • The authentication of goods and raw materials through the supply chain • A secure ledger of intellectual property rights • Provable sustainability and ethical practices • Closer relationships between brands and their customers Cointelegraph Article Report: Made in Italy (dGen) COUNTERFIT INDUSTRY GROWTH ($USD) $461 Billion $1.3 Trillion $2.8 Trillion 202220182013
  • 10. 10 LATEST NEWS IBM Takes 7% Stake in Trade Finance Blockchain Network we.trade CONSOLIDATION ACROSS ENTERPRISE BLOCKCHAIN we.trade, a blockchain-based platform that makes international trade faster and more efficient, announced an enhanced collaboration with IBM which will enable network enhancements and accelerate the global commercialisation of the platform. IBM has also become a new shareholder along with the 12 existing bank shareholders. We.Trade Press Release WHAT’S NEXT? Starting July 2020, we.trade will extend services to additional banks and clients across Europe before expanding the network globally, starting with Asia. EXISTING SHAREHOLDERS: CaixaBank, Deutsche Bank, Erste Group, HSBC, KBC, Nordea, Rabobank, Santander, Société Générale, UBS and UniCredit.
  • 11. 11 LATEST NEWS WeChat invests $70 Billion in Fintech, including Blockchain and AI NEW INFRASTRUCTURE INVESTMENT Chinese tech giant Tencent Holdings will allocate nearly $70 Billion (500B Yuan) over the next five years in fintech development, including blockchain, cloud computing, and artificial intelligence (AI). The investment comes following calls by Beijing for a tech- driven structural upgrade of the world’s second-largest economy through investment in “new infrastructure” following a boom in demand for business software and cloud services. Other key sectors of the investment include: Reuters Report • Blockchain • Servers • Big Data Centres • Supercomputer Centres • Internet of Things Operating Systems • 5G Networks • Quantum Computing
  • 13. 13 LATEST REPORTS IBM – Advancing Global Trade with Blockchain WHAT’S INSIDE …the 2017 Trade Facilitation Agreement (TFA), signed by over 160 World Trade Organization (WTO) member countries, projects the achievement of significant cost reductions by improving nonvisible frictions in trade such as paperwork, procedures, and administrative formalities. Enter blockchain technology. It has the potential to diminish these nonvisible frictions in global business, reduce cost, and save time while also mitigating risk and creating new business models. Early adopter organizations have been working with partners—and even competitors—to improve existing, shared processes. As they continue to collaborate in non-traditional ways, they recognize that blockchain brings a level of trust both among participants and in data shared. This could include dealing with customs paperwork, cross-border payments, or contracts for a service. Download Full Report
  • 14. 14 LATEST REPORTS R3 – Italian Banking Industry Case Study – Spunta WHAT’S INSIDE Spunta Banca DLT is a private permissioned distributed ledger technology-based project for interbank reconciliation, promoted by ABI, the Italian Banking Association, and coordinated and implemented by ABI Lab, the banking research and innovation center. In March 2020 the DLT based system was implemented across the Italian banking sector. Powered by R3’s Corda Enterprise, the new application streamlines and automates the reconciliation of transactions, improving governance of the overall “spunta” process, and moving from lengthy error prone settlements, to real-time management of the reconciliation process. Download Full Report
  • 15. 15 LATEST REPORTS Blockchain Research Institure – Solutions in a Pandemic WHAT’S INSIDE The goal of this report is to facilitate positive change. The Blockchain Research Institute’s mission is to help “realize the new promise of the digital economy.” It’s a new promise because we’re in a new second era of the digital age, where technologies like artificial intelligence (AI), the Internet of Things (IoT), augmented and virtual reality (AR/ VR), biotech, and above all, blockchain are providing leaders with an unprecedented set of opportunities. These technologies have not stormed the world; rather, they’ve developed slowly in an uneven and combined or complementary manner. But, as our research shows, these technologies are now relevant as never before, not just to business and the economy but the future of public health and the safety of global populations. Traditional systems have failed and it’s time for a new paradigm. Download Full Report
  • 16. 16 LATEST REPORTS World Economic Forum – Redesigning Trust Blockchain Deployment Toolkit WHAT’S INSIDE Blockchain has the potential to revolutionise how companies compete and stakeholders collaborate in the world of supply chains. As the technology is nascent, the World Economic Forum has published this toolkit to provide guidance for development and deployment of new blockchain solutions. WHO IS THE TOOLKIT FOR? While anyone can use the toolkit, the content assumes that your team or organisation has identified a good blockchain use case via an honest evaluation of the technology as compared to other options. While useful for blockchain deployments generally, this toolkit focuses on supplychain deployments. Download Full Report
  • 17. 17 APPLIED BLOCKCHAIN MAY 2020 ISSUE 01 For more information and other issues of Applied Blockchain, please visit our website using the buttons below. Visit our Website Get in Touch