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Blockchain News

Singapore’s Central Bank Develops A Blockchain Settlement System



The official stock exchange in Singapore, the Singapore Exchange (SGX) has recently partnered with the country’s Monetary Authority of Singapore (MAS) in order to develop a settlement system for tokenized assets that can work in different blockchain applications.

The news spiraled in the latest crypto news and confirmed that the newly completed delivery versus payment (DvP) system uses smart contracts in order to simplify the post-trade process as well as shorten the settlement cycle.

Aside from this, the system will make it easier for financial institutions to carry out the simultaneous exchange and final settlement of tokenized digital currencies and securities – as required under the DvP system.

According to the official press release:

“The prototypes for the platform had demonstrated that financial institutions and investors are able to carry out the simultaneous exchange and final settlement of tokenised digital currencies and securities assets on different blockchain platforms.”

The new system will act as an extension of the Project Ubin which began as a collaborative project by MAS and Singapore’s financial service industry in order to explore the possibilities of blockchain technology for clearing and settlement of payments and securities.

As the head of technology at SGX Tinku Gupta said:

“Based on the unique methodology SGX developed to enable real-world interoperability of platforms, as well as the simultaneous exchange of digital tokens and securities, we have applied for our first-ever technology patent.”

SGX initially announced thep lan to work with MAS and others in order to utilize blockchain tech with the settlement system in August this year, saying that the group will examine Project Ubin and its existing protocols to determine how to leverage them for a DvP platform.

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Blockchain News

Telecom Giant AT&T Interested In A Blockchain-Based Social Media ‘Mapping’ System

The American telecom giant AT&T is in today's digital currency news - in fact the section related to blockchain - for its recent interest in a project that would build a social media history "map" based on blockchain. As the telecom giant announced in its published application by the US Patent and Trademark Office (USPTO), the patent application is seeking a patent for a blockchain-based social media history "map" and a system that may include a transaction history controller to store subscribers' data which may be used for various purposes. In a way, this system could let users purportedly track "micro-culture transactions" such as trends at a particular time or place, or behaviour of their trends. As the patent document reads:
“The social media history map platforms described herein may take advantage of the immutable and permanent nature of blockchain records to store, and provide access to, data representing online transactions that occur on multiple social media applications.”
According to the filing, content creators would keep the ownership of their data on the "mapping" platform:
“However, instead of passing ownership of blocks or data between users, a social media account owner maintains primary ownership of his or her online transaction data. What passes from the social media account owner to other users of the social media history map service, such as followers of the social media account owner, is a notion of elevated visibility rights.”
This is just one more patent application in the series that were submitted by companies such as Xerox, American Express, IBM and others - and a new milestone for AT&T overlooking its expansion in the field of blockchain.
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Blockchain News

Binance Labs Introduces Us To The ‘First Batch’ Of (Final) Blockchain Projects

The popular blockchain incubator Binance Labs, which is a venture wing of the largest cryptocurrency exchange Binance, has recently released its first "batch" of blockchain projects that were part of its Incubation Program, as a crypto press release submitted by its team noted. As an initiative that is in the focus of today's crypto news, Binance Labs is a project that seeks to help early-stage blockchain and digital assets projects as well as entrepreneurs through direct investments as well as technical assistance. The Binance Labs Incubation Program is an onsite program launched back in August 2018 with $1 billion in funding. After initiating a tour that had over 500 applicants, Binance Labs selected only eight projects, each of which received $500,000 in seed funding and an access to necessary resources and mentors. As the 10-week program finalized, seven projects were chosen and signed on users while three of them managed to get paying customers. The eight projects selected by Binance Labs include the hardware wallet SafePal, fictionless logins for decentralized apps (DApps) Torus, Internet security project Nym, and market prediction startup Deaux. As Ella Zhang who is the Head of Binance Labs explained in an "Ask Me Anything" (AMA) session on Reddit in June, decentralization is “the core value of Bitcoin and blockchain,” adding that the incubator had launched a number of initiatives in this direction.  
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Altcoin News

TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week

The TRON Foundation recently launched the TRC20 exchange, which was in the crypto news recently, as a place for people to exchange tokens issued on the TRON platform. Located at, this exchange is still on Tronscam which is the primary block explorer and information service for the TRON ecosystem that supports the altcoin. Both TRC20 and TRC10 tokens can be understood as Tron-native analogues to ERC-20 tokens. While the TRC10 token is a user-issued one that does not require the writing of a smart contract, TRC20 provides all the functionality and power of a smart contract-based token system. Currently, TRON has a number of decentralized applications running on it. Despite the overall market downturn, the usage was up and according to some metrics, rose by over 48% over the last week. The usage of these dApps also crossed the 1 million transaction threshold in a single 24-hour period. Tron published a blog on the subject in which the organization stated:
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”
One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
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Blockchain News

LinkedIn’s Largest Growing Job Sector Is Blockchain Development

The popular Microsoft-owned company LinkedIn, issued a report for the fastest emerging jobs in 2018 and what comes as a great information for today’s blockchain news is that blockchain developers are the ones that are among the 5 emerging careers. According to the LinkedIn’s report, there are plenty of jobs for engineers who can develop distributed ledgers using the P2P technology and the number for these jobs has increased up to 30 times this year only. On the second place comes the Machine Learning Engineer role which is a position that increased about 12 times this year. Other careers that are in the top five groups are Machine Learning Specialists, Professional Medical Representative, and Application Sales Executive. Some of the cities that have one of the highest demands for blockchain developers are New York City, Atlanta, and San Francisco. The skills that you need to have a job like this are Node.js knowledge, blockchain, solidity and Ethereum. The Chief Economist at LinkedIn explained why this is the case:
 “It’s no surprise that we’re seeing an explosion of machine learning roles and continuing growth of data science roles. In fact, we started to see glimmers of this in last year’s report; however, both fields are starting to see more specialized roles emerge. It also may not shock you that Blockchain Developer is topping the list following this year’s surge in interest around blockchain and cryptocurrency.”
The great news for all of the people interested in a career in this sector is that there are plenty of universities now that adopt blockchain-related courses which help to boost the blockchain expertise in the following years.
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