The world’s financial situation was in jeopardy once global economies were taken over by the coronavirus. Major countries have witnessed a recession like a situation that has caused millions to lose their jobs. To curb this, the Singapore Monetary Authority [MAS] has kick-started a $1.75 million competition to bring innovative fintech solutions to solve COVID-19 […]
Blockchain
Blockchain-Powered Scratchcard Lottery Set to be Launched in Cambodia
The new system described as the world’s first ‘paper-based blockchain-powered lottery‘ guarantees greater transparency in the embryonic Cambodia gambling sector. Chinese lottery solution provider Hongbo has been granted a license to partner with Cambodian lottery operator Jinxiang to develop a blockchain-powered scratchcard lottery. The Chinese lottery solutions firm’s initial offer will be a paper scratchcard […]
Saudi Arabia Monetary Authority Injects Liquidity into Local Banks Using Blockchain Technology
On 8 June, the Saudi Arabia Monetary Authority (SAMA) announced that it had transferred funds to domestic banks through blockchain technology. The money was part of the central bank’s effort to inject SAR 50 billion ($13.3 billion) of liquidity into the country’s banking system announced last week. According to the statement, the use of distributed […]
Blockchain Voting System to Determine Russia’s Next President
The citizens of Moscow will be able to decide whether or not Vladimir Putin stays in power for some more 12 years using a blockchain voting system. Only two regions have been confirmed to use the blockchain-powered electronic voting system, Moscow and Nizhny Novgorod. In March, Russian lawmakers approved adjustments in the constitution that would allow Vladimir […]
Digital Mortgage Platform Under Development by Bank of Russia
The Bank of Russia is reportedly creating a digital mortgage network based on a locally built blockchain platform dubbed Masterchain, as per state-owned media outlet Ria on May 28. According to the first Deputy Governor of the Bank, the blockchain platform has recently begun to support mortgages, which is the cornerstone of the impending platform. […]
Thailand to Leverage Blockchain to Promote Use of Green Energy
Australian blockchain company Power Ledger is teaming up with Thailand to leverage blockchain technology to set up a digital energy company in the Asian nation. Power Ledger announced on 25 May a new partnership with Thai Digital Energy Development (TDED) – a public-private joint venture – to develop Thailand ‘s digital energy platform. The new […]
Blockchain Payments System Being Launched in Cambodia
Southeast Asian nation, Cambodia is launching a blockchain payments system to enhance the use of the country’s fiat currency. The new blockchain network is set to improve the use of the country’s local fiat currency, scaling down the use of the United States dollar. Moreover, the new blockchain payments system will enable real-time payments, and […]
First Blockchain Iron Ore Transaction Initiated by BHP Group
Chinese steel mills aim to gain a greater say in the iron ore business by preferring Yuan-based settlements. On 13 May, the major mining company, BHP Group announced that it had completed its first vending of iron ore to Chinese Iron and Steel company, Baosteel, using Chinese currency. As per the announcement, the first blockchain […]
Blockchain-based Identity System for Autonomous Vehicles to be Introduced in South Korea
The South Korean government’s test center for key smart city fixes, Sejong City, announced on May 8 that it will launch a blockchain-based identity system for self-driving cars. According to Asian publication Aju Business Daily, the country’s Ministry of Science and ICT will oversee the creation of a blockchain-based identity system alongside the nation’s cybersecurity […]
Nasdaq collaborates with Blockchain Firm R3 for Digital Asset Management
The US stock exchange Nasdaq has entered into a long-term collaboration agreement with the enterprise blockchain firm R3, to create a full-spectrum digital asset marketplace. According to a press release on Wednesday (April 29, 2020), with a technology agreement with the R3 blockchain software firm, Nasdag will use the Corda Blockchain R3 to build its […]