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Banking has been one of the fields that was predicted to be taken over by blockchain technology sooner rather than later. By the looks of it, it already started to happen. Major banks have already recognized the potential of blockchain when it comes to facilitating the systems and making data storing more secure, and it…
Director of innovation of PayPal, Michael Todasco announced that the leading global payment system has launched a blockchain-based reward system. At the moment, this system is only for its employees. PayPal employees who are using the system will get rewards in a form of tokens. They will be valid only via PayPal and they can…
A total of $125 million in Stellar cryptocurrency will be given away by the world’s most popular blockchain. The reason for choosing Stellar cryptocurrency is evident – tokens such as Bitcoin and Ethereum already have a very high exposure so it is a good way to promote other cryptocurrencies by giving away tokens to users….
HSBC, in fact as many others banks, became interested in using blockchain to their advance and explore the possibilities. For the first time ever, the bank completed a transaction via blockchain and ordered the shipment of soybeans from Argentina to Malaysia through the agricultural group Cargill. The reason why many banks from all over the…
The car industry is on of the most developed ones, holding even 15% of the global industry. From design to creation and production, to marketing and sales, it is one big chain that involves many steps from idea to a finished product. The auto industry is developing even further, however, if you ask the majority…
The U.S. Patent and Trademark Office gave Mastercard its multi-currency blockchain patent as reported today by several sources. As described by Mastercard, the current state of currency blockchain system requires all transaction information to be stored in different blocks on the blockchain, but also be in the same format, type or size. In order to…
A blockchain-based system was released in Dubai by the Smart Dubai Office that has the task of reconciliation and settlements of payments. This system is introduced in order to perform transactions in real-time, facilitating the verification process and cutting down on the cost and time consumed. In Dubai, the Department of Finances processes all procedures…
As announced by Julius Maada Bio, Sierra Leone is in the process of creating a national bureau which will be based on blockchain technology. The news made public on the 73rd Session of United Nations. According to the statement from the president, this initiative is done in collaboration with the non-profit organization Kiva and the…
Kasikornbank, one of the leading banks in Thailand is testing a cross-border blockchain platform for Visa transactions. This is the first bank in the country to decide to take one such action in order to improve the service they provide to their customer. Namely, this Thai bank is the first one in the country to…
As one of the leading investment and bank companies, JPMorgan has invested in blockchain technology that will enable cross-border payment in a quick and efficient way. The name of the platform is Interbank Information Network (IIN). Now, 75 different banks have joined the platform for testing purposes, including other leading banks such as Santander and…
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