Blockchain-based driver’s licenses, a CBDC-launch platform and other blockchain initiatives
Blockchain technology remains one of the hottest trends among financial, government and commercial institutions worldwide. Information about new projects and initiatives in this space arrives daily. ForkLog provides an overview of the most interesting recent initiatives.
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Apollo Fintech unveils platform for issuing CBDCs
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The blockchain startup Apollo Fintech unveiled a payments platform designed to help central banks issue national digital currencies (CBDCs), according to a press release.
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Commercial banks, firms and individuals can interact with the National Payment Platform (NPP), including depositing funds, performing exchange operations, transferring money, and paying for goods and services.
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Commenting on the platform’s advantages, the head of Apollo Fintech noted:
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“NPP will save economic agents a lot of time. The platform will make the economy significantly more efficient.”
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He added that NPP, in combination with other financial innovations, will promote widespread adoption of digital payments and an increase in cashless transactions.
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Coca-Cola’s strategic partner deploys blockchain in supply chains
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Coke One North America (or CONA), Coca-Cola’s partner, will deploy Baseline Protocol to boost supply-chain transparency.
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In collaboration with Unibright and Provide, the founders of Baseline Protocol, the company aims to create a \”Coca-Cola bottling harbour\”. The distributed ledger technology is designed to increase efficiency of operations between internal and external suppliers of finished products and raw materials.
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ConsenSys developer and Baseline Protocol co-founder John Wolpert described the technology as \”a method of using the public Ethereum network to maintain consistency between different data and the systems that record them\”.
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According to him, zero-knowledge proofs are used in the system. They guarantee that data of objects interacting with the protocol are not accessible to other network participants.
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First results from using Baseline Protocol are expected in the fourth quarter of 2020.
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USDA gives green light to blockchain systems for tracking organic product shipments
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The US Department of Agriculture (USDA) proposed amendments to regulatory documents that would enable blockchain-based tracking of shipments.
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2020-14581 by ForkLog on Scribd
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The document states that electronic shipment-tracking systems, including those based on blockchain, will play an important role in ensuring food security.
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“The distributed ledger technology can provide safe, verifiable and near-instant tracking of elements in complex supply chains. Importantly, blockchain can protect confidential information and trade secrets, automatically ensuring access to data only by authorized personnel.”
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The agency concedes that for widespread use of blockchain and other emerging technologies, resources and time will be required to develop the infrastructure and standards for inter-system interoperability.
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NEC Corporation and Persol Group to create a blockchain-based recruitment platform
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Persol Group, one of Japan’s largest HR firms, in partnership with NEC Corporation will create a blockchain platform for recruitment.
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The project is still in the proof-of-concept stage. Distributed ledger technology will be used to securely manage personal data, prevent fraud and ensure information authenticity.
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The companies hope the new platform will mitigate Japan’s IT talent shortage.
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Over a million South Korean drivers have blockchain-based licenses
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More than a million residents of South Korea have used the blockchain-based PASS app, which eliminates the need to carry a driver’s license.
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The initiative was launched in May by South Korea’s National Police Agency and the local traffic authority, in cooperation with three major telecom providers — SK, KT and LG U+. As of now, 27 licensing centers are connected to the system.
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Various companies, including car-rental services, are exploring the use of the PASS solution to simplify verification procedures.
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Mitsubishi unveils platform for trading non-ferrous metals
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The metals and minerals trading arm of Japanese conglomerate Mitsubishi launched the blockchain platform ECO, according to a press release.
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The new solution was developed by Mitsubishi Corporation RtM Japan Ltd in partnership with the American firm Skuchain, which develops products based on distributed ledger technology.
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ECO is designed to improve the efficiency of trading operations between counterparties through a single system for creating, managing and settling invoices and trade confirmations.
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In the initial phase, the unit plans to onboard its most valuable clients. In the future, the platform is expected to cover a more expansive network of supply chains.
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On the ECO platform, users will be able to sign trade documents and upload them to the blockchain. There will also be the ability to share signed documents with other participants in the deal while concealing information that constitutes a trade secret.
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Also worth reading:
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- Waves Enterprise unveiled a new version of the network
- In Germany, securities will be moved to the blockchain
- China’s state blockchain platform added support for six public blockchains
- China’s state blockchain platform is integrating 100 public blockchains
- Another blockchain vote in Russia will take place in September
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ForkLog’s special feature explains what the China-built Infrastructure Blockchain Platform (BSN) is, how it works and why it matters for the government:
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