Wave Enterprises Partners Ontology To Improve Blockchain-based E-voting System

Wave Enterprises Partners Ontology To Improve Blockchain-based E-voting System

By RTTNews Staff Writer | Published: 12/17/2020 9:23 AM ET

Blockchain companies Wave Enterprises and Ontology have entered into a technological partnership for mutual consulting on their blockchain solutions, and to jointly develop and integrate related technologies.

As part of the partnership, Wave Enterprises will initially look to integrate Ontology's Decentralized Identity Solution (DeID) with its recently launched blockchain-based e-voting system.

The online voting service were tested and applied in an e-voting system developed for the Russian Central Election Commission by Rostelecom and Waves Enterprise during the Single voting day in the Russian Federation, when more than 30,000 people took part in voting.

This system employed the Russian unified identification and authentication system to identify users, which is centralized and not available to corporate users.

Even though the system is fully implemented on a blockchain and utilizes advanced encryption, user authentication and identification are the weak points of any e-voting system. Ontology's solution is expected to be the answer for this major issue.

With the integration of DeID solution into the voting service, corporate users can seamlessly use and benefit from a fully decentralized approach. The voting process in some types of legal entities requires integration with KYC service providers, since trusted user authentication and verification is an essential requirement.

The DeID solution can ensure that the identities and data of people who vote are not only protected, but also verified — a central issue facing many elections around the world.

Waves Enterprise released in mid-November the commercial version of the blockchain-based online voting service that uses cryptographic mechanisms that ensure the voting process's reliability and transparency. It can be used to run stakeholders voting, board elections, referendums and polls online in a secure, transparent and fast way.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

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Gavin Wood: Polkadot is a bet against blockchain maximalism’

Gavin Wood: Polkadot is a ‘bet against blockchain maximalism’

The Polkadot founder doesn’t buy into the narrative that we only need one blockchain.

Image courtesy of CoinTelegraph

            DEC 03, 2020

Polkadot doesn’t have to be an “Ethereum killer” to succeed, according to protocol founder Gavin Wood.

In a “fireside chat” with podcaster Laura Shin during the Polkadot Decoded business summit on Thursday, Wood was asked whether his protocol could exist alongside Ethereum given its lofty development goals and growing success in bringing on new developers.

Wood acknowledged that the blockchain ecosystem is big enough for both protocols, but said Polkadot is essentially a “bet against blockchain maximalism.”

He said the narrative surrounding Ethereum today is that “there only needs to ever be one blockchain,” but he added that he never bought into that concept.

“If Ethereum ends up being a chain that is sort of bridgeable […] I think that there’s a very good chance that Polkadot and Ethereum will happily coexist.”

Polkadot is being built as a “network of networks,” with “bridging and connectivity” being the two key factors driving the creation of a more fluid ecosystem.

Founded in 2016, Polkadot is a multi-chain interoperability protocol that enables the transfer of any type of data or asset on its network. It’s sometimes referred to as an “Ethereum killer” due to the surge in active development on the platform and potential use cases.

The project’s initial coin offering, or ICO, generated $144.63 million in proceeds in 2017, making it one of the most successful crowdfunding campaigns. Since launching its mainnet in May and following a successful redenomination of its token, DOT, in August, Polkadot has quickly emerged as a top-ten cryptocurrency.

At the time of writing, DOT had a total market capitalization of just over $4.8 billion.

During the more than hour-long conversation with Shin, Wood was also pressed about the possible legal implications of Polkadot’s so-called initial parachain offering, or IPO, which is being billed as a more transparent funding method for decentralized applications and other cryptocurrency projects.

Although Wood admitted that there have been no legal consultations on parachain offerings yet, he’s not too concerned with regulations because IPOs are more akin to staking than value transferring. He described IPOs as a “guaranteed lock-up situation and a guaranteed return when lockup is over.”

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Original article posted on the CoinTelegraph.com site, by Sam Bourgi.

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How has the COVID-19 pandemic affected the crypto space? Experts answer

How has the COVID-19 pandemic affected the crypto space? Experts answer

Experts in blockchain technology and crypto take on the question: What impact has the COVID-19 outbreak had on the industry?

Image courtesy of CoinTelegraph

            NOV 22, 2020

Who could have imagined a year ago how different our lives would be in just 12 months? Without any doubt, last November will remain a significant point in humanity’s history — the time when it all started. Although “patient zero” has not yet been confirmed — if it ever will be at all — we now know that everything began in China back on Nov. 17, 2019, when the first patient reportedly presented symptoms of a novel coronavirus disease named COVID-19, according to the South China Morning Post with references to government data.

In January 2020, Wuhan city in central China suffered from the massively expanding COVID-19 epidemic, and “41 admitted hospital patients had been identified as having laboratory-confirmed” cases, according to a publication in The Lancet. Just two months later, in March, the World Health Organization declared COVID-19 a global pandemic. One by one, governments worldwide closed their national borders, suspended public events, and banned people’s gatherings. The conversation unearthed two terms, rarely used before, which have now been declared 2020 words of the year by British Collins Dictionary: “lockdown” and “social distancing.”

It’s hard to imagine which spheres of our lives have not been affected by these dramatic and tragic events, with the number of confirmed global cases exceeding 55 million.

(Click image for larger view)

Despite everything, the ongoing COVID-19 crisis has also had a positive impact on the world. European conservatism, which has long relied on the traditional financial system, was questioned as the pandemic forced Europeans to shift toward cashless payments and cryptocurrencies. Some say it even fastened the mainstream adoption of crypto and DLT-based business solutions globally by changing people’s understanding of money.

Related: What the COVID-19 pandemic means for blockchain and crypto

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Specifically, the COVID-19 outbreak has propelled Bitcoin’s (BTC) safe haven narrative as central banks print an estimated $15 trillion in stimulus in an attempt to ease the pandemic’s effects on global economies. Amid rising inflation rates, people are turning to Bitcoin as the next inflation hedge.

Related: Not like before: Digital currencies debut amid COVID-19

Meanwhile, in the name of public health, governments are initiating COVID-19 tracking programs, raising serious concerns about privacy violations and the tightening grip of centralization in the process. Not stopping there, governments have also taken another step in eroding civil autonomy via the development of central bank digital currencies, initiatives for which have been boosted globally due to the COVID-19 crisis. While experts see the solution to safeguarding privacy in decentralized technologies, the question about over-promised decentralization remains open.

Nonetheless, the coronavirus outbreak significantly changed everyone’s lives, creating the new normal we now live by. Yet, despite all the challenges we are facing economically, politically and socially since the start of the year, there is no doubt that the pandemic is propelling digital innovation and accelerating humanity 20 years forward in technological development.

It is too early to tell when it all ends, as COVID-19 is still gaining speed. Now, a year since Wuhan’s first case, Cointelegraph reached out to experts in blockchain technology and the crypto space for their opinions on how the coronavirus pandemic has impacted the industry.

What impact has the outbreak of the COVID-19 pandemic had on the crypto space?

Asheesh Birla, general manager of RippleNet:

“COVID-19 exacerbated the inequities for many people who are unbanked or underbanked and highlighted the gaps that we have in our financial infrastructure where those who have the least, pay the most — on average the cost to send $200 is $14. Despite the pandemic, people still need to send money to family and friends abroad. As a result, remittances have continued to surge in some of the largest corridors. The U.S. to Mexico corridor, for example, saw a considerable increase in remittances from the start of the pandemic, with Mexico receiving $4.02 billion from abroad in March 2020, a 36% increase from March 2019. Ripple can help lower the cost of remittance payments by using crypto and blockchain to make cross-border payments faster, cheaper, and more reliable. Bitso, one of Mexico’s leading exchanges, is transacting close to 10% of total remittance flows from the U.S. to Mexico through Ripple’s technology that uses XRP as a bridge currency. In tandem, there’s more interest in the space than ever before with major companies like PayPal and Square placing their bets on crypto, pushing it to the mainstream. Validation from these companies has contributed to more interest in the utility of cryptocurrencies, and their ability to better serve their businesses and customers."

Da Hongfei, founder of Neo, founder and CEO of OnChain:

“From my perspective, COVID-19 did not negatively impact the blockchain space — if anything, it drove increased demand for blockchain innovation and adoption. By revealing the weaknesses of our current paradigm, COVID-19 also highlighted the urgent need for blockchain technology. For example, COVID-19 demonstrated the failings of today’s centralized supply chain system, revealing its fragility and lack of agility. By leveraging blockchain, we can build a decentralized supply chain which can quickly ascertain and then distribute products based on a specific area’s needs. Similarly, blockchain technology could also be deployed to more efficiently track and trace infection cases while also protecting patients’ privacy. In fact, we’re already seeing this shift to blockchain in a time of uncertainty — increasingly more institutions and people are embracing Bitcoin as it is viewed as a stable, mainstream asset in these trying times. If anything, I believe that COVID-19 firmly proved the need for not only blockchain, but also a truly digital and smart economy. Moving forward, we must break from our current paradigm to embrace a truly digitized and globalized world which has the flexibility, agility, and efficiency to flourish and thrive.”

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Mike Belshe, CEO at BitGo:

“The economic upheaval due to our pandemic times are creating shifts in attitudes and greater interest in digital assets. COVID-19 has significantly accelerated the adoption and interest in crypto around the world. Important to note is that the determined effort of companies like ours to build a secure, compliant foundation is enabling the influx of new crypto investors, including large institutional firms such as investment banks and major custodians. Fortunately, we are able to meet the moment as a result of all the hard work we’ve put into building a new monetary system from scratch these past 10 years. Prior to COVID-19, most people weren’t paying as much attention to the economic factors that make Bitcoin relevant. Frankly, they didn’t need to. If you’re generating a return from the stock market, you stay with what you know, and you don’t have to worry about learning something new. But now that’s all changed with the pandemic — fiscal policy around the globe is causing governments to wildly print money, reducing its value and causing inflation. Investors now understand they have to get ahead of this. They are asking a lot more questions and are grasping the underpinning of Bitcoin’s thesis — that an asset’s scarcity matters. Digital assets are a hedge against inflation and a safe store of value. Investment leaders such as Paul Tudor Jones, Stanley Druckemiller and Bill Miller are demonstrating that Bitcoin is now an important part of any portfolio. This year has brought so much uncertainty but people are feeling empowered to educate themselves on what they need to do to get involved with crypto. All the building blocks are in place — compliance, custody, liquidity, portfolio management and wallet technology, as well as tax tools — giving investors the tools they need to invest in digital assets.”

Preston Byrne, Partner at Byrne & Storm, P.C.:

“The COVID-19 outbreak’s most tangible impact on crypto was validation of crypto’s core thesis that our societies are brittle and math, not men, is likely to form a sounder basis for future social organization. The reliance of practically every major economy on fiscal and monetary stimulus to stay afloat reinforced and widened public perception of the weakness of fiat money and institutions. ‘Crypto,’ so-called, is a diverse array of beliefs and areas of interest ranging from hard money, to censorship-resistance, to secure communications. These technologies are uniquely responsive to social and enterprise adaptation to stressors that have dominated headlines in the last year, whether we’re talking about ‘Money printers go brr,’ the ongoing exodus from big tech, or widespread social unrest in the cities.”

Tim Draper, venture capitalist and noted Bitcoin investor:

“A lot of people, stuck in their homes finally made the time to set up a Bitcoin wallet, but the real impact of Covid was that the lockdown was devastating for many families, and when the government printed $13 trillion to try to put a bandaid on it, it made it clear that you would rather be holding Bitcoin than these diluted and dilutable dollars. I expect ‘fiduciary duty’ to now include owning some Bitcoin as a hedge against government currency flooding and manipulation.”

These quotes have been edited and condensed.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Original article posted on the CoinTelegraph.com site, by Max Yakubowski.

Article re-posted on Markethive by Jeffrey Sloe

Textile Firm KayaampKato To Use IBM Blockchain To Track Sustainable Clothing

Textile Firm Kaya&Kato To Use IBM Blockchain To Track Sustainable Clothing

By RTTNews Staff Writer | Published: 11/19/2020 9:06 AM ET

German textile firm Kaya&Kato is partnering IBM to use blockchain technology to track sustainable clothing right from the source of the fiber to the completion of the garment.

The IBM blockchain network for the fashion industry is designed to create transparency about each product to provide consumers with the knowledge that their clothes are sustainably produced.

The new network was developed with the support of the German Federal Ministry for Economic Development (BMZ).

All data through the supply chain to the completion of the final product will be recorded on the blockchain. All the permissioned parties involved will be able to access the transaction data recorded in blocks in an unchangeable record on the chain.

This will enable suppliers of organic cotton and customers of Kaya&Kato to identify the origin and where the fabrics were processed as well as gain an understanding into each production and distribution step. It will create transparency and help develop secured protocol for the traceability of ecological materials.

Blockchain is well-suited to help garment manufacturers by creating shared visibility. The suppliers work together to create a permanent, immutable record of the origin of all materials used in production to build trust among companies and their suppliers, businesses and especially their consumers.

A recent IBM Institute for Business Value study found that 77 percent of consumers say that sustainability is important to them, and 57 percent said they are willing to change their purchasing habits to help reduce negative impact to the environment.

For comments and feedback contact: editorial@rttnews.com

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Turkish Soccer Club Istanbul Basaksehir Joins Socioscom To Launch Fan Token

Turkish Soccer Club Istanbul Basaksehir Joins Socios.com To Launch Fan Token

By RTTNews Staff Writer | Published: 11/11/2020 9:28 AM ET

Turkey's professional football club Istanbul Basaksehir has inked a deal with blockchain platform Socios.com to be the "Official Fan Token" partner of the club. As part of this, Socios.com will launch the Official Fan Token of Istanbul Basaksehir ($IBFK).

The $IBFK Fan Token will go on sale before the end of 2020 in a Fan Token Offering (FTO) on fan voting and rewards app Socios.com and Chiliz.net, the world's first tokenized sports exchange. The fans can purchase the token directly through their mobile phone via the Socios.com fan engagement app.

Fans of Istanbul Basaksehir can use $IBFK Fan Tokens to influence club decisions by voting in many polls each season on Socios.com. Fans can also earn exclusive digital and real-life rewards linked to the club on Socios.com. The rewards include innovative digital experiences and real-life activations, such as meeting players and watching games as a VIP when fans return to the stadiums.

Istanbul Basaksehir will be the third football club from Turkey to join the blockchain-powered fan engagement platform after Galatasaray and Trabzonspor. Last week, they won their first ever Champions League fixture beating Manchester United 2-1.

As they are working with more Turkish clubs to join the platform, Socios.com is planning to open an Istanbul-based office with an initial staff of 20 as they work towards their stated aim of delivering 100 million Turkish Lira to the country's sports industry.

Some of the other teams on the platform include Spain's La Liga soccer clubs Atlético de Madrid and FC Barcelona as well as European league clubs, France's Paris Saint-Germain, Italy's Juventus and AS Roma as well as UK's West Ham United and Argentina's Club Atlético Independiente.

The Fan Token will help expand the club's global fan engagement strategy and their global audience by bringing fans closer to the club. Meanwhile, Socios is expected to benefit from a wide range of marketing rights including in-stadium, TV and digital exposure.

Socios.com is powered by Malta-based esports voting platform ChiliZ, which allows both esports and sports entities to tokenize their voting rights to their fan bases to crowd-manage sports and esports organizations.

The Istanbul Basaksehir Fan Token ($IBFK) will be tradeable against the Socios.com platform's native token, ChiliZ ($CHZ), with the fans needed to purchase ChiliZ tokens to exchange into Fan Tokens through a process known as a FTO.

In April, Socios.com announced plans to launch blockchain-powered COVID-19 immunity passes for global football fans to enable them to attend live games at stadiums in the aftermath of the COVID-19 pandemic.

The Socios Pass, an ID and immunity verification tool, will allow fans holding "Proof of Immunity" to return to the stadium and watch live games more safely and securely. The pass will include immunity certificates issued by health authorities. It will use blockchain technology and QR codes.

For comments and feedback contact: editorial@rttnews.com

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Verizon Implements Blockchain-powered News Release Verification

Verizon Implements Blockchain-powered News Release Verification

By RTTNews Staff Writer | Published: 11/3/2020 9:23 AM ET

Verizon is implementing a blockchain-verified record of changes to its news releases using its 'Full Transparency' initiative. It has the potential to change the way companies communicate to their audiences.

The Full Transparency initiative is a proof of concept built with open-source blockchain technology in partnership with Huge, MadNetwork and AdLedger. The blockchain-based, open-source newsroom product is designed to raise the bar for corporate accountability.

Full Transparency is expected to transform how the Verizon Corporate Newsroom publishes news releases by providing an authoritative record of changes to public communications.

All official news releases published to the Verizon Newsroom that incorporate Full Transparency will be secured and bound using cryptographic principles, so that subsequent changes can be tracked on the blockchain ledger and contextualized. All details and changes are recorded and stored with their own unique hash code and becomes a permanent part of the chain.

A blockchain is a shared ledger or record book where all relevant details about a content record are permanently logged and any changes rigorously tracked. Once information is recorded in the shared ledger, it's almost impossible to reverse or change it.

The lack of transparency has the potential to undercut corporate credibility, particularly for news releases from a publicly traded company. Nearly 60% of consumers globally believe that the media they consume is contaminated with untrustworthy information, according to the 2020 Edelman Trust Barometer.

Full Transparency will help change the way corporate newsrooms provide visibility to their readers and hold themselves accountable for what they communicate to the public.

The Full Transparency initiative is an extension of Citizen Verizon, a responsible business plan that drives economic, environmental and social advancement by promoting technology as a tool to improve communities, education and the workforce.

The initiative will help combat the spread of misinformation and creates a trustworthy, authoritative source for confirming company information. It documents all text changes made to the official news releases and all details are timestamped, making them easily verifiable.

This proof of concept is intended to convey a level of transparency that's unprecedented from a corporate newsroom. Verizon intends to help other organizations build trust and transparency through technology to bring more credibility to their publishing model.

For comments and feedback contact: editorial@rttnews.com

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JPMorgan Coin Is Now Live And In Use By A Large Technology Client For Global Payments

JPMorgan Coin Is Now Live And In Use By A “Large Technology Client” For Global Payments

By Brenda Ngari – October 28, 2020

The largest US bank with around $2.7 trillion assets under management, JPMorgan & Chase, has launched its own stablecoin, the JPM Coin. The newly-released JPM Coin is reportedly being used commercially by a large tech client for the very first time this week.

JPMorgan is also exploring the creation of new separate payment rails for central banks around the world that have shown interest in developing their own digital currencies. Citing China and Singapore, Takis Georgakopoulos, JPMorgan’s global head of wholesale payments is certain the probability of adoption of such a model is “very high”. This is according to a report by CNBC on October 27.

After A Long Wait, JPM Coin Is Finally Here

While the transnational tech firm leveraging JPM Coin has not been named, Georgakopoulos revealed that this firm will be using the stablecoin to settle global payments in real-time.

This unmistakable proof that blockchain technology is slashing costs and increasing overall efficiency has given the multinational banking giant confidence that the technology is profitable and promising.

Along these lines, JPMorgan has launched a new business unit called “Onyx” that will house the firm’s blockchain and digital currency initiatives. This business unit comes in handy as JPMorgan expects more commercial clients to get onboard. Onyx will have over 100 staffers, with Umar Farooq as the newly appointed CEO.

Speaking about the unit, Georgakopoulos stated:

We are launching Onyx because we believe we are shifting to a period of commercialization of those technologies, moving from research and development to something that can become a real business.”

Using Blockchain’s Usefulness To Revolutionize The Existing Outdated Banking System

According to the report, JPMorgan recognizes blockchain technology’s usefulness in providing a solution for the exorbitant costs incurred in processing checks as well as reducing the time spent before payment clears.

Per Georgakopoulos, “Using a version of blockchain with the participants being the main issuers of checks and the main operators of lockboxes, it’s possible we can save 75% of the total cost for the industry today, and make checks available in a matter of minutes as opposed to days.”

One might ask why JPMorgan has taken too long to embrace blockchain if it has so much faith in the technology’s usefulness. Well, Onyx CEO Farooq explained:

“If you think about blockchain, we are either somewhere in the trough of disillusionment or just beyond that on the hype curve. That’s why at JPMorgan we’ve been relatively quiet about it until we were ready to scale it and commercialize it.”

Farooq, however, noted that this project is months away from its commercial launch.

Quick Facts About JPM Coin

JPMorgan first announced its JPM Coin back in February 2019. The token bears some similarities to a stablecoin as it is pegged 1:1 to the United States dollar. More interestingly, JPM Coin was built on top of Quorum, a permissioned ethereum fork developed in-house by the bank. In August, however, JPMorgan invested in ethereum venture studio ConsenSys, and the blockchain company would acquire and manage Quorum on behalf of JPMorgan as part of the strategic deal. 

JPM Coin was designed with the main focus of accelerating transactions such as inter-firm payments and bond transactions. The bank started conducting trials of the token early last year.

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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Shipping Carriers MSC CMA-CGM Integrate Blockchain-Platform TradeLens

Shipping Carriers MSC, CMA-CGM Integrate Blockchain-Platform TradeLens

By RTTNews Staff Writer | Published: 10/16/2020 10:19 AM ET

Two of the major shipping carriers, Switzerland's Mediterranean Shipping Co. or MSC and France's CMA-CGM, have been integrated onto the blockchain-enabled digital shipping platform TradeLens. This will now enable them to view a more integrated, timely and consistent logistics data for their global containerized freight.

The solution is jointly developed by Danish logistics giant Maersk and IBM by applying blockchain to the world's global supply chain. It runs on IBM Hybrid Cloud and IBM Blockchain. TradeLens claims to reduce the transit time of a shipment by 40 percent, which represents thousands of dollars in cost saving.

The two shipping carriers, which joined the platform in May 2019, will now act as platform foundation carriers with a role in expanding the ecosystem and platform operations. They will also play key roles as validators on the blockchain network.

MSC and CMA CGM will also promote TradeLens capabilities and membership to their clients and business partners across all major geographies. They will create complementary services on top of the platform for their customers and partners.

Prior to integrating onto the platform, the two shipping carriers also ran a 15-customer pilot involving more than 3,000 unique consignments, 100,000 events and 6,000 containers to ensure the TradeLens platform distributes and shares shipment data across various supply chains with speed and accuracy.

The platform will have data for more than half of the world's ocean container cargo on the blockchain network with the addition of MSC and CMA-CGM, two of the top five shipping carriers. It will help enhance transparency and efficiency for global shipping, while also reducing errors and delays.

TradeLens makes it possible to access data from the source in near real-time, boosts the quality of information, provides a comprehensive view of data as cargo moves around the world, and helps create a more timely and secured record of transactions.

The use of blockchain-based permissioned data sharing will provide other members such as ports, terminals, authorities and intermodal providers, a single shared view of a freight moving around the world, without compromising privacy and confidentiality of the data.

MSC and CMA-CGM are among more than 175 diverse organizations worldwide involved in the TradeLens platform, which was launched in August last year, just six months after the blockchain collaboration between IBM and Maersk was announced in January 2018.

The TradeLens ecosystem includes global shippers, shipping lines, third-party logistics providers, freight forwarders, customs authorities and border agencies. It includes data from more than 600 ports and terminals.

For comments and feedback contact: editorial@rttnews.com

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KPMG Rolls Out Blockchain-powered Carbon Footprint Tracking Solution

KPMG Rolls Out Blockchain-powered Carbon Footprint Tracking Solution

By RTTNews Staff Writer | Published: 10/12/2020 10:18 AM ET

Big four auditing firm KPMG has rolled out a new patent-pending blockchain-powered solution to help organizations to more accurately measure, mitigate, report and offset their greenhouse gas emission or carbon footprint.

A carbon footprint is the amount of greenhouse gases, primarily carbon dioxide or CO2, released into the atmosphere by a particular human activity. Fossil fuel use is the primary source of CO2, which trap heat in the atmosphere and cause global warming. Organizations around the world are committing and striving hard to mitigate their carbon footprint.

The Climate Accounting Infrastructure (CAI) is a solution that will help organizations track climate emissions as they have been under pressure to boost climate change policies as well as report sustainability practices and results.

The blockchain-based solution will also analyze climate risks associated with asset valuations, and help organizations better assess and employ systems to offset their emissions. It will integrate an organization's existing systems, including IoT sensors, with external data sources to establish a verifiable trail of emissions and offsets recorded on blockchain.

CAI will use blockchain technology to provide a trusted and transparent system to measure, account for, and report on greenhouse gas emissions data in order to help organizations to meet environmental, social and corporate governance (ESG) targets of capital markets investors.

To help accurately measure greenhouse gas emissions, the solution will analyze massive amounts of structured and unstructured environmental data, secure that data on a blockchain, and use machine learning and other AI strategies to perform risk modeling and reconcile across data sources. Organizations and their stakeholders will be able to verify data cryptographically, in real time.

CAI also utilizes the trusted, real-time environmental data and advanced analytics to model the impact of climate risks on business operations and financial performance.

For the effective implementation of the CAI solution, KPMG is partnering data provenance and emission tracking providers such as Context Labs and Prescriptive Data as well as blockchain start-up Allinfra.

For comments and feedback contact: editorial@rttnews.com

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MOBI Designs Blockchain-powered Decentralized Vehicle Charging System

MOBI Designs Blockchain-powered Decentralized Vehicle Charging System

By RTTNews Staff Writer | Published: 10/9/2020 10:21 AM ET

A working group of the Mobility Open Blockchain Initiative (MOBI), led by Honda and General Motors, has released its first technical design specification as a global standard for a blockchain-powered decentralized electric vehicle charging system.

The automotive industry's first global standard for the decentralized vehicle charging system was created and released by MOBI's member-led Electric Vehicle Grid Integration (EVGI) Working Group.

The EVGI Standard was created by a group of global automotive leaders, startups, and large technology companies to solving some of the most pressing climate and mobility challenges.

Apart from Honda and General Motors, the group includes Accenture, CPChain, IBM, the IOTA Foundation, Pacific Gas & Electric Company (PG&E), Politecnico di Torino, and R3.

The EVGI Standard covers the system designs and data schemas required for three core use case areas: Vehicle to Grid Integration (V2G), Tokenized Carbon Credits (TCC), and Peer to Peer (P2P) applications.

The first blockchain-powered EVGI Standard tackles energy and climate challenges by enabling a decentralized, electrified mobility future. However, MOBI's EVGI Standard does not prescribe any particular application or underlying distributed ledger technology (DLT).

The EVGI Standard will ensure that pertinent data attributes and functionalities of each use case are available for organizations to utilize in creating their own applications.

"Electric vehicles, chargers, and electricity producers can have a secure identity, communicate with a standard messaging format, and automatically record transactions such as charging, generation, and exchange on a distributed ledger," said Tram Vo, MOBI's COO and Founder.

MOBI's EVGI Standard enables a set of core network data services that will provide significant value to EV owners, charging infrastructure and grid operators. It will enable secure, decentralized communication and immutable recordkeeping between data generating peers.

This will support data transparency, trust, coordination, and automation among mobility service providers, consumers, utilities, and government stakeholders.

MOBI hopes that applications enabled by this Standard will ultimately help lower carbon emissions, improve road safety, reduce traffic congestion, and support a host of other socially and environmentally beneficial outcomes.

MOBI was formed in 2018 an industry-wide solution to enable all partners to work towards accelerating adoption and promoting standards in blockchain, distributed ledgers, and related technologies.

The cross-industry initiative comprises more than 120 leading automotive, mobility and technology companies including GM, Ford, Daimler Benz, BMW, Renault, VW, IBM, Accenture, Consensys, IOTA, and Hyperledger.

For comments and feedback contact: editorial@rttnews.com

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