Fighting counterfeit vapes, encrypted-message exchanges and other blockchain initiatives

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.

Mitsubishi and Tokyo Tech to launch blockchain platform for trading renewable energy

Mitsubishi Electric, together with researchers from Tokyo Tech, are creating a blockchain platform for peer-to-peer trading of electricity.

The new development will allow selling and using excess electricity generated from renewable sources.

The distributed ledger technology and the P2P approach enable participants to interact directly, distribute complex computations and optimise order matching.

Diagram of how the Mitsubishi-Tokyo Tech blockchain platform works.

The platform is planned to be tested in April this year and commercialised as soon as possible.

Hyundai MOBIS launches MAPS blockchain-authentication system for auto parts

Hyundai MOBIS, Hyundai’s auto parts subsidiary, has launched the MAPS blockchain system built on artificial intelligence.

The distributed ledger technology is used to verify the authenticity of auto parts. By scanning the QR code on the packaging of an auto part, the vehicle owner can verify that the product is not counterfeit.

MAPS is used to distribute parts for Kia and Hyundai vehicles. The system supports verification of three million different parts for 300 car models. Up to 100,000 people and 16,000 dealers in 200 countries will gain access to the system.

Nornickel joins blockchain network for raw-material suppliers

“Nornickel” proposed to issue a national token.

Nornickel joins blockchain network for raw-material suppliers

“Nornickel” proposed to issue a national token.

PuffBar vape manufacturer uses VeChain to combat counterfeits

PuffBar uses VeChain blockchain to combat counterfeits. In addition, the company will begin acceptingBitcoin Cash and Ethereum.

PuffBar is set to partner with French firm Cypheme, which specializes in counterfeiting prevention. Cypheme will manufacture special labels using branded inks that will be applied to the product.

Product information will be stored on the blockchain. When buying the product, a customer can take a photo of the label with a smartphone. The technology will be able to detect any micro-defects on the label within five seconds that are invisible to the naked eye.

PuffBar representatives said the rollout of the new approach will start in the United States in the coming weeks.

Shanghai authorities invest $5m in blockchain startup Conflux

The Shanghai Science and Technology Committee and the Changning District administration have granted Conflux a grant of $5 million.

The funds are used to explore the potential applications of blockchain in the aerospace sector and logistics.

The Shanghai authorities intend to apply Conflux’s technological know-how to social and economic initiatives.

Microsoft and Tanla launch blockchain platform for encrypted messaging

Microsoft and Indian company Tanla Platforms launched the Wisely platform for secure and confidential messaging.

The platform with end-to-end encryption is built on Microsoft Azure. It is a global network for secure data exchange with support for SMS, email and messaging in messengers.

Users can access the network via a single API offering multi-channel capabilities. The platform will be rolled out worldwide by both companies.

We also wrote:

• Zelensky proposed to issue a national token.
• Britain will deploy blockchain to track a coronavirus vaccine.
• 74% of central banks are interested in blockchain technology.
• Deutsche Börse added palladium fund tokens from Nornickel to the listing.
• German developer selected Stellar to issue blockchain bonds for €20 million.
• Bangladesh completed the first blockchain transaction under Sharia law.

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