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Blockchain Revolution Series

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A block chain or blockchain is a permissionless distributed database that maintains a continuously-growing list of transaction records hardened against tampering and revision. It consists of blocks, holding batches of individual transactions. Each block contains a timestamp and an information linking it to a previous block. The block chain is seen as the main technical innovation of bitcoin, where it serves as the decentralized public ledger of all bitcoin transactions. This original design has been the inspiration for other cryptocurrencies and distributed databases. In this series, we cover latest development stories related to blockchain and its applications around the world.

Blockchain Revolution Series

Chinese government to implement blockchain for taxation and electronic invoices

Aug 08, 2017 11:15 am UTC| Digital Currency

The Chinese government plans on using blockchain technology for taxation and issuing electronic invoices, CoinFox reported. The government has included the technology in its Thirteenth Five-Year National Informatization...

Blockchain Revolution Series

UNICEF Ventures to test Ethereum smart contracts for online asset transfer

Aug 08, 2017 06:17 am UTC| Digital Currency

UNICEF Ventures, a branch of the United Nations International Childrens Emergency Fund (UNICEF) focused on innovation, is testing Ethereum-based smart contracts as a tool for improved efficiency, transparency and...

Blockchain Revolution Series

Thailand’s Kasikornbank, IBM develop blockchain-based Letter of Guarantee network

Aug 08, 2017 05:35 am UTC| Digital Currency

Thailands leading bank Kasikornbank (or KBank), in collaboration with IBM, has developed a new enterprise Letter of Guarantee network based on IBM Blockchain. By simplifying and expediting procedures for KBanks Letter...

Blockchain Revolution Series

Eleven banks tap R3’s Corda to develop blockchain-based trade finance app

Aug 07, 2017 09:51 am UTC| Digital Currency

Eleven leading banks have collaboratively developed a trade finance application on R3s distributed ledger platform Corda that incorporates shippers and carriers. Commercial letters of credit still account for 38% of the...

Blockchain Revolution Series

Indian banking giant ICICI’s blockchain expert quits to join HashCash Consultants

Aug 07, 2017 07:05 am UTC| Digital Currency

Leading Indian private bank ICICIs blockchain expert Raj Chowdhury has quit the bank to join HashCash Consultants, a blockchain startup headquartered in California with offices in Mumbai and Kolkata, as Managing...

Blockchain Revolution Series

Rivetz teams up with Parity Technologies to increase cyber security on blockchain

Aug 07, 2017 06:32 am UTC| Digital Currency

Rivetz Intl., a newly formed subsidiary of Rivetz Corp., has entered into an advisory agreement with Parity Technologies, a blockchain core technology company, to improve cyber security on the blockchain. Under this...

Blockchain Revolution Series

Everex launches blockchain initiative for women’s financial inclusion

Aug 07, 2017 05:26 am UTC| Digital Currency

Everex, a blockchain company developing Ethereum applications, has announced that it has established the Inclusive Finance for Women MSMEs Through Blockchain Initiative. The company believes that blockchain technology...

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Economy

UK Stocks Slide as Labour Leadership Tensions and U.S.-China Talks Shape Markets

British stocks closed lower on Friday as political uncertainty surrounding the U.K.s ruling Labour Party pressured investor sentiment and weakened the pound for a fourth straight session. The FTSE 100 dropped 0.61%, while...

Cuba Weighs $100M U.S. Aid Offer Amid Fuel Crisis

Cuba said Thursday it is open to considering a $100 million humanitarian aid proposal from the United States, though officials remain doubtful about President Donald Trumps broader intentions as the island struggles...

Vietnam Economic Growth Forecast Slows to 6.8% in 2026, Says World Bank

Vietnams economic growth is projected to ease to 6.8% in 2026 after the country recorded a strong 8% expansion last year, according to the latest assessment released by the World Bank on Friday. Despite the slower pace,...

BOJ Rate Hike Expectations Grow as Inflation and Weak Yen Pressure Japan Economy

The Bank of Japan (BOJ) is increasingly expected to raise its key interest rate to 1.0% in June as policymakers face mounting inflation risks linked to rising energy prices and the continued weakness of the Japanese yen....

Trump Says China to Boost U.S. Oil Imports After Xi Talks

U.S. President Donald Trump said China has agreed to significantly increase purchases of American oil and energy products following high-level discussions with Chinese President Xi Jinping in Beijing. Speaking during a...

Politics

Ukraine Begins Major POW Swap as 205 Soldiers Return from Russian Captivity

Ukraine has successfully brought home 205 service personnel from Russian captivity in the first phase of a large-scale prisoner exchange with Russia, President Volodymyr Zelenskiy confirmed on Friday. The operation marks a...

US Plans Imminent Indictment of Cuba’s Raul Castro Over 1996 Plane Shootdown

The United States is reportedly preparing to indict former Cuban President Raul Castro in connection with the 1996 downing of civilian aircraft operated by the humanitarian organization Brothers to the Rescue. According to...

US-China Trade Talks Sideline Chip Export Controls as Nvidia China Sales Draw Attention

U.S. Trade Representative Jamieson Greer said Washington and Beijing did not engage in detailed discussions about U.S. chip export controls during the latest Trump-Xi summit in China. Speaking to Bloomberg TV on Thursday,...

Matthew Wale Elected Solomon Islands Prime Minister After No-Confidence Vote

Matthew Wale has been elected as the new Prime Minister of the Solomon Islands after lawmakers voted out former leader Jeremiah Manele in a no-confidence motion last week. The Solomon Islands parliament selected Wale on...

Rubio Urges China to Release Jimmy Lai and Political Prisoners

U.S. Secretary of State Marco Rubio said the United States is seeking a positive response from China regarding repeated appeals for the release of jailed Hong Kong media tycoon Jimmy Lai and other political detainees....

Science

Trump Administration Releases New UFO Files and Apollo Mission Records

The U.S. Defense Department has released dozens of previously classified UFO-related files following an order from President Donald Trump, sparking renewed debate over unidentified anomalous phenomena (UAP) and government...

China vs. NASA: The New Moon Race and What's at Stake by 2030

The space race is back and this time, its a direct competition between the United States and China for dominance on the lunar surface. NASAs Artemis II mission recently made history when four astronauts flew farther into...

NASA Artemis II: First Crewed Moon Mission Since Apollo Takes Four Astronauts on 10-Day Lunar Journey

NASAs Artemis II mission launched Wednesday, marking humanitys return to crewed lunar exploration for the first time since the Apollo era. Carrying four astronauts aboard the Orion spacecraft, this historic 10-day mission...

NASA's Artemis II Mission: First Crewed Lunar Journey Since Apollo

NASA's Artemis II Crew Arrives in Florida for Historic Moon Mission

The four astronauts chosen for NASAs Artemis II mission have touched down at Kennedy Space Center in Florida, marking the beginning of final launch preparations for the first crewed lunar journey in over 50 years. NASA...

Technology

Samsung Shares Drop as Labor Union Confirms Planned Strike

Samsung Electronics shares fell sharply on Friday after the companys largest labor union confirmed it would move forward with a planned strike later this month despite renewed calls for negotiations. The decline added...

Alphabet Raises Record $3.6 Billion in Yen Bonds to Support AI Expansion

Alphabet, the parent company of Google, has raised 576.5 billion yen ($3.6 billion) through a yen-denominated bond sale, marking the largest bond issuance ever completed by a foreign company in Japan. The landmark deal...

Applied Materials Forecasts Strong Q3 Revenue as AI Chip Demand Accelerates

Applied Materials posted record fiscal second-quarter revenue on Thursday and issued a stronger-than-expected forecast for the third quarter, fueled by rising global investment in artificial intelligence infrastructure and...

Anthropic Nears $30 Billion Funding Round at $900 Billion Valuation

AI startup Anthropic is reportedly close to securing a massive $30 billion fundraising deal that would value the company at approximately $900 billion, according to a Financial Times report published Friday. The new...

Nvidia’s China AI Chip Sales Remain Frozen Despite U.S. Approval

Nvidias efforts to expand AI chip sales in China remain stalled even after the U.S. approved several Chinese technology giants to purchase the companys H200 processors. Although around 10 Chinese firms, including Alibaba,...