Renault’s blockchain-based certification of auto parts and other technology initiatives

Blockchain technology remains one of the hottest trends among financial, governmental and commercial organisations worldwide. News about new projects and initiatives in this area arrives daily. ForkLog offers an overview of the most interesting recent initiatives.

Deputy Prime Minister names blockchain a priority technology for development

First Deputy Prime Minister of Russia Andrei Belousov named blockchain among the technologies whose development will be a priority for the country in the coming years.

“First and foremost, this is the support and development of promising technological foundations in cross-cutting technologies in cooperation between the state and major companies,” he said.

In addition to blockchain, Belousov listed artificial intelligence, quantum computing, the Internet of Things, 5G technologies, quantum communications and others.

Renault tested a blockchain tool for certifying automotive components

French automaker Groupe Renault developed a blockchain solution Xceed (eXtended Compliance End-to-End Distributed) for certifying all vehicle components and processes of production, starting from design.

The tool is based on IBM’s Hyperledger Fabric technology. In its creation and testing, several automotive-industry companies, including Continental, Faurecia, Plastic Omnium and Saint-Gobain, participated.

According to the press release, the solution is intended to track and certify compliance with regulatory requirements for spare parts under tightening regulatory norms.

“Blockchain technology enables several participants to exchange information and trace it, supporting competitiveness in the automotive industry. It speeds up information exchange because data are available in real time, and provides greater efficiency in a network that is distributed,” the statement said.

Sberbank joins blockchain platform for trade finance via subsidiary

Subsidiary of Sberbank, Russia’s largest bank, has become a partner of the Komgo platform for trade-financing of commodity goods, built on blockchain technology, reports Cointelegraph.

A representative of Sberbank Switzerland AG said that the cooperation with Komgo is driven by the ongoing digitisation of trade finance.

According to him, the initiative will not immediately affect Sberbank’s operations in Russia, but could be implemented in the future.

Standard Chartered to launch Bangladesh’s first blockchain-based cross-border payments service

The banking giant Standard Chartered announced the launch in Bangladesh of the first blockchain-based cross-border payments service. The solution is based on technology from Ant Group, the Chinese affiliate of Alibaba, The Business Standard reported.

Partners of the bank on the project were the local mobile financial services provider bKash and the digital money transfer provider Valyou from Malaysia.

Remittances by abroad-based workers are a cornerstone of Bangladesh’s economy. Malaysia is an important part of this ecosystem, the publication noted.

The Bangladesh diaspora in the country will be able to send remittances via Valyou to recipients in Bangladesh who are wallet users of bKash.

Ant Group’s blockchain technology helps “optimize the remittance process, radically increasing delivery speed, improving information security and increasing transparency.” The service is in the final stage of commercial testing and will soon be available to customers in Bangladesh and Malaysia.

Ant Group from Alibaba launches cross-border trading blockchain platform

Chinese company Ant Group, operator of the Alipay payment system, presented a cross-border trading and financial services blockchain platform.

The new platform is named Trusple. It is based on its own AntChain blockchain.

Automating via smart contracts such key aspects of the payments process, such as order placement and tax obligations, Trusple is designed to help small and medium-sized enterprises (SMEs) sell their goods and services abroad.

To streamline cross-border processes, Trusple has entered into partnerships with major financial institutions such as BNP Paribas, Citibank, DBS Bank, Deutsche Bank and Standard Chartered Bank.

BSN centralizes public networks for local users

From the second half of November to April 2021, the BSN will conduct the integration of 24 public networks. In intra-network transactions, users in China will use the yuan, according to a memo cited by the media.

“BSN has made it technically impossible to conduct any cryptocurrency transactions. The platform will strictly adhere to the relevant laws and will exclude support for any blockchain that violates them,” the memo explains.

Otherwise, public blockchains will retain their properties.

Also, BSN integrated the DAML smart-contract language from the U.S. company Digital Asset. It will become the “exclusive standard” for developing dapps on the platform.

The CIA opens a division to study blockchain technology

The Central Intelligence Agency (CIA) has introduced a new science-and-technology division, CIA Labs. It will study blockchain and other technologies.

To develop “scientific and technical solutions in support of the CIA’s mission,” the agency will involve staff, academic institutions and the private sector. Details of cooperation at CIA Labs are not disclosed.

Besides blockchain, biotechnology, artificial intelligence, robotics and augmented reality are of interest to the division.

ForkLog also reported:

• Media: Moscow’s blockchain-voting system published distorted data for 16 hours.
• Vale conducted a deal for iron ore on the blockchain.
• In the Russian Ministry of Digital Development, stated that there were no outages in the blockchain systems during voting.
• In Societe Generale, clarified the number of blockchains used for CBDC tests.
• S7 Airlines added another partner to its blockchain platform.
• The Moscow Innovation Cluster launched blockchain factoring.
• In Switzerland, appeared an association to support and develop blockchain.

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