This is a Charles Brett’s start-of-the-week Enterprise Times ‘blockchain catch-up’ for Week 49. Necessarily it is idiosyncratic and selective.
It is not intended to be comprehensive but does seek to highlight ‘Quick Takes’ on specific developments as well interesting pieces to read, a listing of some (not all) announcements/press releases and pointers to upcoming events.
Quick Takes – Charles Brett’s Blockchain Catch-up Week 49
Germany paves way for electronic securities to reap blockchain fruits
According to Reuters, Chancellor Angela Merkel’s cabinet on Wednesday passed new legislation to introduce all-electronic securities as part of its wider blockchain strategy, the finance ministry said. The law eases rules that until now had forced issuers and holders of securities to document transactions with a paper certificate. “The paper certificate may be dear to some for nostalgic reasons, but the future belongs to its electronic version,” Finance Minister Olaf Scholz said, adding that electronic securities cut costs and administrative burdens.
Quick Take: In effect, replacing conventional paper certificates becomes possible. Instead of on paper, an entry occurs in a central securities depository or a register (potentially held by a private-sector bank or similar investment institution). That means an entry in a crypto securities register based on blockchain technology becomes possible – which is a marked change from the past.
Blockchain to trace carbon emissions for mining, metals companies: proof of concept released
The World Economic Forum’s Mining and Metals Blockchain Initiative has released a proof of concept. The proof of concept was developed in collaboration with industry experts to test the technical feasibility of the idea. The objective is to trace emissions across the value chain and uses distributed ledger technology. This initiative is a collaboration between seven global companies (Anglo American, Antofagasta Minerals, Eurasian Resources Group, Glencore, Klöckner & Co, Minsur and Tata Steel) and the World Economic Forum. It hopes to accelerate an industry solution for supply chain visibility and ESG requirements
Quick Take: as Nadia Hewett, Blockchain Project Lead, World Economic Forum put it: “The distributed nature of blockchain technology enables cross-enterprise collaboration and makes it the ultimate networked technology. This opens exciting new possibilities that organizations otherwise would not have the capability to deliver on their own.”
Blockchain: 2021 predictions from IBM
Setting the scene: COVID-19’s effects on the global economy will remain even with vaccines available. Worldwide IT spending is expected to decrease by 2.7% next year. But the pandemic has accelerated the needs for resilient supply chains, digital health credentials and distributed ecosystems: all represent areas of focus for enterprise blockchain in 2021 with the following predictions coming from Gari Singh, Chief Technology Officer, IBM Blockchain:
- Dramatically accelerated use of digital health credentials: digital health credentials were already being developed before COVID-19 but now there is a greater need for organisations to verify an individual’s health status while protecting their privacy (using platforms like IBM Digital Health Pass)
- AI and automation unlock further value in supply chains: the result of pairing AI and blockchain? An ever-improving, transparent and secured solutions, like IBM Food Trust’s Freshness module (which can recommend products to recall from store shelves because of expiration)
- Blockchain accessibility is felt in the grocery store: more than 17,000 products are traceable on IBM Food Trust, a number that will continue to grow as it becomes easier and more profitable to deploy blockchain solutions (and, after this year’s shortages of consumer staples, there is a need for greater supply chain visibility and resilience)
- Vaccine supply chains look to crypto anchors: markers like branding on pills, fabric patterns and even optical signals can establish authenticity of products and help keep vaccine supply chains safe
- Tokenisation accelerates inventory digitisation: the next supply chain evolution will include fully digitized inventories; organisations seek the efficiency, security and control that tokenisation offers.
Quick Take: apart from the last, there is nothing particularly surprising here (given the source is IBM Blockchain). Enterprise Times has previously discussed Food Trust (for example) and its implications. The emphasis on tokenisation is, however, a surprise – at least to Enterprise Times. Business reliance on all too easily ephemeral tokens seems implausible for 2021: much will have to improve before there is widespread acceptance.
7 pieces to read – Charles Brett’s Blockchain Catch-up Week 49
Selected announcements/press releases – Charles Brett’s Blockchain Catch-up Week 49
- EY and Microsoft expand Xbox Enterprise Blockchain Platform for rights and royalties management (press release)
- How to build an exemplary crypto exchange? (comment)
- Ontology partners with Litentry, accelerating adoption of its decentralized identity and credit scoring solutions (press release)
- Brooklyn Nets’ Spencer Dinwiddie enlists Bison Trails to power Calaxy Validator Nodes on Flow and Polkadot blockchains (press release)
- NTT, FATH Mechatronics and peaq partner on next-generation data center security Solution (blog/press release)
- The CFTC’s tech team is trying to figure out what to do about DeFi (comment)
- Stahl selects Finboot’s blockchain solution MARCO to share verified sustainability credentials with brands that use its products (press release)
- ISACA launches blockchain framework and executive guide to help enterprises adopt the emerging tech (press release)
- Spring Labs slashes consumer loan fraud using novel data network (press release)
- Developer activity across cryptocurrencies and public blockchains (report/press release)
- NTT DATA and Securitize Japan partner to offer optimised security token solutions for local market participants (press release)
- Agri-Food markets and transport and storage driving industrial blockchain success story (press release).
Selected upcoming events
- Process Excellence & Business Transformation Conference 2021, 19-20th January, 2021 (online)
- Geneva Blockchain Congress, 25 January, 2021
- European Blockchain Convention (EBC Barcelona), 25-26 January, 2021
- World Crypto-Bitcoin, Blockchain and Cyber-security (BCB), 04-05 March, 2021
- International Conference on Big Data and Blockchain (BDAB), 20-21 March, 2021
- Crypto Finance Conference Returns to St. Moritz in January 2021
- Blockchance Europe 2021 (July 7th-9th, 2021).