Article: UN sees blockchain technology as tool to fight climate crisis

Blockchain, Governance, Innovation

UN sees blockchain technology as tool to fight climate crisis

U.N. experts are confident that “cryptocurrencies and the technology that powers them can play an important role in sustainable development, and actually improving our stewardship of the environment.” Specifically, the article points out a number of environmental and sustainability benefits associated with blockchain, including its power to enable transparency and resistance to fraud, climate finance and clean energy markets.

Citing the U.N. Environment Programme’s partnership with the Technical University of Denmark, the article states that data on harmful greenhouse gas emissions is unreliable and incomplete in many countries. In providing an immutable record of carbon data, blockchain solutions can provide a transparent way for nations to take action to reduce their impact on the climate.

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Article: The Next Industry Open Data Will Shake Up

Civil Society, Data, Innovation, Open Source

The Next Industry Open Data Will Shake Up

There’s so much hype around the idea of open data regimes that the natural inclination is to be cynical and say it will never deliver on its promise.

But let’s suspend our cynicism, if only for a while, and imagine a world where compliance-driven open data regimes (actually) put power back into the hands of consumers. The consumers’ decisions then drive significant change among providers and, as a result, change the world for the better.

Consumers already have so much information and data on their phones and already have the power to change.

With these kinds of tools in their pockets, the power to change will literally be at our fingertips.

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Article: Blockchain Technology Reduces the Attack Surface in Identity Management

Blockchain, Cyber-Security, Innovation

Blockchain Technology Reduces the Attack Surface in Identity Management

Blockchain technology is evolving and has more potential to evolve to become one of the most trustworthy forms of carrying out digital transactions in digital network realms. Blockchain technology, as it is designed and intended, is basically well-known for information integrity insurance. Numerous sectors can attain benefits from it if it is utilized in the best way possible. One of the best utilizations of blockchain technology is using its integrity assurance for developing cybersecurity solutions.

Following are use-cases of blockchain technology enterprises must acquire for the enhancement of cybersecurity protocols.

  • IoT Security
  • Decentralizing Medium Storage
  • Securing DNS and DDoS

Article: How Blockchain Technology Is Helping Small and Big Businesses to Grow Better

Blockchain, Cyber-Security, Innovation

How Blockchain Technology Is Helping Small and Big Businesses to Grow Better

Blockchain technology is revolutionary and its ubiquitous application across industries is mind-blowing. While it seems too early to categorize it as the ‘alpha’ solution to many existing industrial security and trust challenges, it’s great to know that blockchain technology is surely growing and its application is entering the realm of both small and big businesses globally.

In this age, it’s crystal clear that the rate of competition among businesses today is extremely high. And to gain a competitive edge over others in the market, your business tactics have to flow with the current trends that appeal to your consumers. Interestingly, blockchain happens to be one of the trends offering amazing solutions to help businesses — finance, gaming, ecommerce, etc to grow better.

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Article: Legalization of Cryptocurrency will Kickstart Economic Development in Latin America

Crypto, Governance, Innovation, Money

Legalization of Cryptocurrency will Kickstart Economic Development in Latin America

The popularity of cryptocurrencies around the globe has forced governments to reconsider their initial stances on cryptocurrency acceptance within their specific borders.

In June 2021, El Salvador became the first country in the world to approve Bitcoin as a legal tender. Other Latin American governments including Paraguay, Panama, Brazil, and Mexico, have expressed similar interests in supporting cryptocurrencies as legal tender.

Cryptocurrencies act as a uniquely safe economic instrument in a region plagued by government corruption, interference, and low productivity. In this respect, the adoption of cryptocurrencies as legal tender serves to guarantee some semblance of economic stability for countries in Latin America, allowing for a true launch of economic development initiatives into the digital age.

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Article: How DeFi Paves the Way for Financial Inclusion

Decentralized Internet, Innovation, Money

How DeFi Paves the Way for Financial Inclusion

According to the World Bank’s report from 2017, approximately 1.7 billion people worldwide don’t have a bank account today.

Not having access to this fundamental financial instrument is the main factor that stops them from realizing certain everyday functions. However, decentralized finance (DeFi) was created to meet all the requirements and demands of traditional banking — security, privacy, and accessibility — in a new way.

By transferring financial operations onto the blockchain, people will only need a smartphone or portable PC and a stable Internet connection to access the global financial system 24/7. How’s that for a step in the right direction?

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Article: Blockchain is poised to propel construction into a new era of efficiency

Blockchain, Innovation

Blockchain is poised to propel construction into a new era of efficiency

In essence, blockchain can enable a registry and a sequence of smart contracts that are all traceable and almost impossible to manipulate because of the distributed nature of the infrastructure.

“In the construction context, it could well represent a paradigm shift by unlocking immense efficiency in aspects such as contract processing and payments, as well as supply chain management,” says Skudder.

Smart contracts represent a fundamental shift for the industry. “Automated contracts reduce the necessity for intermediaries, who would have to be paid. The system of smart contracts, built into the blockchain, will automatically enforce the rules such as regulations, deliverables or penalties. Besides the efficiency, the real-time nature means discrepancies or anomalies will be flagged much earlier and disputes resolved faster,” says Skudder.

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Article: SKT to use blockchain to identify and manage hazardous buildings

Blockchain, Innovation

SKT to use blockchain to identify and manage hazardous buildings

South Korea’s top mobile carrier SK Telecom has joined with an eastern Seoul district to identify and manage the safety of hazardous buildings using its blockchain-based decentralized identity technology.

Decentralized identity (DID) is a blockchain-based identification system that normally generates and gives unique digital identities for individuals. DID was rarely given to objects and structures as the digital identification system is mainly used by online services for the authentication of users.

Using “Initial,” the company’s blockchain-based mobile identity authentication service and internet of things (IoT) devices, the consortium will monitor the structural integrity including large cracks and the slope of old buildings. SKT’s mobile DID system can give digital identity to IoT devices to prevent hacking or forgery.

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Article: Interoperability: The New North Star for Financial Market Blockchain

Blockchain, Innovation

Interoperability: The New North Star for Financial Market Blockchain

After nearly five years of experimentation, blockchain has reached an important milestone in financial services. This year, several distributed ledger technology platforms are either running live or preparing to launch. As the industry starts to transition from its initial stage of research and development to this new phase of operations and growth, it’s time for market participants and technology providers to turn their attention to what comes next: the full integration of blockchain-based systems into the broader financial market infrastructure.

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Article: Hybrid smart contracts will replace the legal system

Blockchain, Governance, Innovation

Hybrid smart contracts will replace the legal system

Unlike traditional contracts, smart contracts are executed by the blockchain, which means that no external court system is required to execute the contract. Without an expensive court system, contracts would be cheaper, so more peer-to-peer transactions can be managed by contracts rather than trust.

Contracts between companies located in different countries are often challenging because of the high cost of navigating in different court systems, and often the judicial system of one country has limited powers over companies in other countries. Hybrid smart contracts do not have this weakness; they cannot see nationality at all.

Enforcement of traditional contracts through the courts is not only costly, but also brings uncertainty to the results. The lawyer will always have the opportunity to discover some mysterious loopholes buried in the basement of the haunted house, making the contract completely invalid. Even if the contract is impeccable, the contracting parties rely on the continued goodwill of the government to ensure that the contract is executed.

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