Blockchain technology remains one of the hottest trends among financial, governmental, and commercial organisations worldwide. ForkLog magazine offers an overview of the most interesting recent initiatives.
State Bank of India to implement JPMorgan’s Liink solution for cross-border payments
The largest bank in the country, the State Bank of India (SBI), will implement JPMorgan’s Liink solution. The Economic Times reports.
Liink is a new interbank data-sharing network. SBI experts are confident that distributed ledger technology will increase the efficiency of cross-border payments and reduce transaction costs.
JPMorgan managing director Prabdeva Singh stressed that the partnership with SBI is aimed at a more active deployment of blockchain in India.
Liink, formerly known as Onyx, is used by more than 400 financial institutions and corporations in 78 countries, including 27 major banks.
In New York, a blockchain application for storingCOVID-19 vaccination data was tested
New York Governor Andrew Cuomo announced the launch of a pilot program to test the Excelsior Pass mobile app, designed to store vaccination data and verify COVID-19 test results.
The solution, employing encryption and distributed ledger technology, enables people to securely share their medical data.
An IBM-built application was tested at a Brooklyn Nets game at the Barclays Center and at Madison Square Garden during a game featuring the New York Rangers
Indian Tata Power DDL deploys blockchain for selling solar energy
Leading Indian energy company Tata Power DDL, the India Smart Grid Forum (ISGF), and Australian company Power Ledger began testing a blockchain platform for selling solar energy.
The aim of the project is to accelerate the development and adoption of renewable energy, as well as electronic trading of resources.
Power Ledger’s blockchain solutions are intended to make settlements more transparent. The companies will test various trading algorithms and create an “energy pool” uniting producers and consumers. EV charging stations and energy storage systems using batteries will connect to the P2P marketplace.
The platform will enable retail customers to purchase electricity from any supplier, regardless of geographic location.
Wyoming lawmakers consider a bill to create a blockchain-ledger system
Wyoming lawmakers will consider a bill aimed at “enabling the use of blockchain as a technological framework” by the end of 2021.
The system is expected to be used by companies to generate and provide reporting, as well as other information required by the state.
Advanced security standards and digital identification are provided for in the system.
LazyLedger blockchain project raises $1.5m to create a ‘connectable layer of consensus’
LazyLedger, a project focused on distributed ledger technology, raised $1.5m in seed funding.
Participants included Interchain Foundation, Binance Labs, Maven 11, KR1, Signature Ventures, P2P Capital, and other venture firms.
The funds will be used to expand the development team. By the end of this year, LazyLedger plans to launch a testnet, and by the end of 2022—the mainnet. In the future, the project will also introduce its own token to the market.
LazyLedger is creating a “connectable layer of consensus” intended to help companies quickly and easily launch their own blockchains.
We also wrote:
- Ukrainian researchers gave a scientific definition of blockchain.
- The Free TON network will be integrated into China’s state blockchain platform BSN.
- The vice president of Nigeria urged cautious deployment of blockchain.
- Benchmark led a €40m funding round for the Sorare blockchain platform.
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