Nestlé, Tesla Testing Blockchain Solutions + More News
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Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
- Nestlé has expanded the use of the IBM Food Trust blockchain technology platform to its Zoégas coffee brand, said the major food company. Through blockchain-recorded data, the customers will be able to trace their coffee back to the different origins, and the platform will give users access to the data provided by The Rainforest Alliance, which includes certification information.
- CargoSmart Limited, a shipment management technology solutions provider, has conducted a pilot project with COSCO SHIPPING LINES (COSCO), Shanghai International Port Group (SIPG), and Tesla for a new application meant to improve the cargo release process. The pilot project conducts a real-time exchange of shipment data with a terminal operator through blockchain, and it’s among the first of its kind, says the press release. During the pilot in December 2019, COSCO and SIPG streamlined the cargo release process by enabling Tesla to accelerate its cargo pick up procedures on a “trusted and secure platform,” they added.
- A joint Japanese-Canadian project has suggested introducing blockchain-powered digital courts – potentially doing away with human judges in civil cases. The initiative is the brainchild of two economics professors, from the University of Tokyo and the University of British Columbia, Canada. In an official release, the Tokyo-based professor stated that plaintiffs and defendants would be able to use the platform to post their complaints and defenses to a “digital court.” The court would then “algorithmically aggregate” the parties’ evidence and “judge who violated their part of the agreement.”
- South Korean telecoms giant KT says that it will co-launch a blockchain-powered remote education platform. The operator, one of the two biggest mobile network operators in the country, has previously launched its own blockchain mainnet, and jointly operates a number of local stablecoin projects in South Korea. Per Travel News, KT’s new platform will allow companies and individuals to complete compliance training modules remotely – and will eliminate the need for in-person visits to supervisory bodies.
- Japanese business giant Softbank is set to launch another blockchain business avenue. Per state-run media outlet China News, the company has teamed up with a Chinese shipping company named China Merchants Port Group (CMPort) to co-build a blockchain-powered logistics platform for the Guangdong-Hong Kong-Macao Greater Bay Area (also known as the Pearl River Delta). The government has been keen to build up the area as part of its latest Five-year Plan, and the new platform will be used by customs officers, port authorities, delivery companies and financial organizations. Softbank has previously invested in a number of blockchain enterprises, and its affiliate Yahoo Japan is the biggest shareholder in the Japanese TaoTao crypto exchange.
Digital fiats news
- The Chinese central bank says it will “certainly” continue its “research and development” into the digital yuan. In an official announcement, the vice governor of the central People’s Bank of China (PBoC), Yifei Fan, spoke of developing a “top-down design” for the forthcoming token, and included progress on the token on a list of its “top priorities” for the months ahead.
- Argo Blockchain, a United Kingdom-based crypto mining company, has mined the record 918 bitcoins in the first quarter of 2020, despite the COVID-19 pandemic. According to the press release, the company mined 333.8 Bitcoin in March and 337.5 in February. Revenues generated in the first quarter of 2020 amounted to GBP 6 million (USD 7.4 million) based on average currency rates for the period, they added.
- Kraken has announced that industry veteran Marco Santori has joined the exchange’s global team as the Chief Legal Officer. Per the announcement, Santori is known as the ‘Dean of Digital Currency Lawyers’ for his work in litigating, advising on and creating new law in the crypto industry. Most recently, he served as President and Chief Legal Officer for Blockchain.com, a major crypto wallet provider.
- The United States Government Accountability Office’s (GAO) Innovation Lab has two job positions opened for development of use case prototypes for blockchain technologies. One listing seeks an Interdisciplinary Computer Engineer/Computer Scientist, and the other an Interdisciplinary Assistant Director, Computer Scientist/Engineer. The two will explore emerging technologies, including blockchain.
- Major industry group the Blockchain Association stated in an amicus brief that U.S. Court of Appeals for the Second Circuit should reverse court order that’s blocking Telegram from distributing its USD 1.7 million worth of Gram tokens to investors, reports Law360. The group argues that the court that issued the order denying Telegram’s request has made an error by conflating Telegram’s private placement and the future sales of blockchain tokens, which they say are temporally and legally distinct steps.