As you probably know from reading our DC Forecasts crypto news site, IBM is one of the leading companies when it comes to blockchain innovation. This has been proven in a number of occasions when the company filed for a patent and received unique rights to specific innovations in the realm of the blockchain.
The former PC manufacturer has so far built multiple blockchain technologies and is active in spaces like artificial intelligence with its unique Watson technology. However, it seems like IBM is focusing on the food safety and supply chain transparency lately.
As of recently, IBM was able to partner up with the French company Carrefour, which is known for being one of the largest multinational grocery chains with over 12,000 locations throughout the world. Carrefour managed to integrate IBM’s Food Trust, the blockchain-based data system that is now integrated into the company’s supply chain.
With this, Carrefour is positioned as a pioneer in jumping on board with IBM. The Food Trust system has gone live since Monday, and anyone in the food industry can subscribe to the modular software system which outlines three primary uses. The first module is called “Trace” while the others are a product for enhanced certification speed.
For ones that don’t know, IBM offers traditional businesses a solid access to blockchain technology, incorporated through a Software-as-a-Service model where food retailers are top among its targets. Previously, IBM worked to develop a solution for Walmart’s grocery department in an attempt to improve its own safety. The solution is described in the video below.
China’s Ping An Insurance Group To Build A ‘Smart City’ By Using Blockchain Technology
Blockchain ‘Smart Money’ Trialed By Australia’s Science Agency And Commonwealth Bank
“Our use of blockchain added new kinds of programmable behaviors to the smart money in the prototype system. This automation and flexibility could reduce friction and enable greater innovation in many payment environments and unlock network-effect benefits. This could include more directly connecting citizens to public policy programs, empowering people to optimize their spending through things like smart savings plans and smart diets, and reducing costs for businesses, including through the potential for self-taxing transactions.”This is not the first blockchain trial where the CSIRO was involved. Previously, the organization collaborated with the University of Sydney, testing a blockchain application on the cloud infrastructure platform of Amazon Web Services - finding that the application was able to achieve a speed of 30,000 transactions per second.
Iran Gets Removed From SWIFT, Considers Switching To Crypto As Planned
“The US has gone rogue, and cannot be allowed to dictate economic or political policy to the rest of the world. The sooner the rest of the world develops an alternative payments system – possibly working through SWIFT, but using a basket of currencies as the basis for a supra-national unit of exchange – the better. The USA is big enough to bully what should be an impartial means for monetary transactions between countries. This should not be possible.’’However, the Iranian Parliamentary Commissioner of Economic Affairs, Mohammad Reza Pourebrahimi, said that the country is working on a plan to involve cryptocurrencies as international payment methods cooperating with Russia. Already multiple businesses in Iran such as HotelsinIran which is a major booking platform started accepting cryptocurrencies as a payment method. Many experts believe that this is a perfect way for cryptocurrencies to gain mass adoption in Iran.
Amazon Wins Two Patents, Aims On Improving Distributed Data Storage/Signatures Protection
“The Merkle Root summarizes all of the data in the related transactions and is stored in the block header. It maintains the integrity of the data. If a single detail in any of the transactions or the order of the transaction's changes, so does the Merkle Root. Using a Merkle tree allows for a quick and simple test of whether a specific transaction is included in the set or not.”Amazon proposed the same Merkle Tree structure aiming to solve how to delegate signing authority from a central entity to multiple subordinates that will be authorized. The second patent that was first filed in December 2015, aims to solve issues related to distributed data storage. The patents suggest that these methods can help reduce storage redundancy but still allowing maximum availability. Amazon also filed for other crypto-specified inventions but we will find out more about them in the near future.
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