Blockchain

State Administration of Foreign Exchange (SAFE), the regulator of foreign exchange reserves, is now preparing itself for setting up its cross-border blockchain for trade finance. News on the development was provided by CNStock, a local financial news agency, on 24 April 2019. It has been built in…

SIAM, the largest commercial bank of Thailand, and PTTEP (PTT Exploration and Production Public Company Limited), the state oil company have successfully conducted a test for using blockchain for the purpose of cross-border payments for business-to-business transactions. The success of the pilot…

According to news reports in April 2019, $100 million worth of stablecoins have been issued by Paxos to Ontology. Ontology declared that individuals and businesses will gain access to its fiat-pegged tokens using Ontology’s ONT token. The new version of PAX will follow the OEP-4 token standard of…

Binance, the world’s largest cryptocurrency exchange, has fallen prey to a massive hack attack. Fund withdrawals were frozen by Binance after the internal security system spotted a suspicious transaction following its execution. As mentioned by the company in the press announcement, “The hackers…

Introduction   Trade finance refers to both domestic and international payments relating to insurance, lending, issuing letters of credit, export credit, and factoring. A whopping 80 to 90 percent of world trade depends on trade finance. One of the main issues with trade finance is the large…

The blockchain technology that originated just a decade back has now influenced many nations. The development in the field of Blockchain has impacted business operations of many big names around the world. It has brought in new changes which have paved the way for innovations. The acceptance of…

According to a press release on 25 April 2019, global tech giant, IBM has entered into an agreement with Lenovo, the Chinese multinational technology company, in order to apply blockchain in Lenovo’s customer service.   IBM is a US-based computer, technology, and IT corporation which is…

The world became aware of cryptocurrency when Satoshi Nakamoto released Bitcoin in 2009. The tech space is one sphere which is constantly evolving as developers, scientists, government, and the entrepreneurs are involved in continuous efforts to push the boundaries of technology to greater heights.…

Understanding Blockchain Technology   It wouldn’t be too much to say that blockchain is one of the most awe-inspiring innovations which has taken place since the birth of the internet. It is a digital phenomenon which most people are familiar with. But for those looking for a concise…

As we all know, blockchain is one of the highest disruptive technologies in the world. Numerous industries are looking to innovate the functioning of their businesses by adopting blockchain technology. Blockchain is being used by both healthcare payers and providers alike to manage electronic…

According to the press release from Tether on 4 March 2019, TRON Foundation has partnered with Tether to make Tether’s USDT available on the TRON Network, thereby making it accessible to TRON’s user base. It plans to implement the same from April 2019. The TRC-20 token will be launched on TRON’s…

According to a news release on 22 April 2019, mega-bank JPMorgan Chase & Co. plans to expand an existing blockchain project in an attempt to fend off competition from money transfer services such as TransferWise and Ripple. This feature which will be live in Q3 will be used for both domestic…