Blockchain Battery Grids Are Powering Up at Lightning Speed

Equigy, a blockchain platform for managing batteries connected to the electric grid, is expanding its operations in the European Union. Ecologic technology news outlet, Green Tech Media, reported on May 29 that three major European Union’s electricity transmission system operators, or TSOs, joined Equigy’s platform. More precisely, TSO with operations in Germany and the Netherlands TenneT, Swiss TSO Swissgrid and Italian TSO Terna all joined the network. According to company data website Owler, TenneT has an estimated annual revenue of $1 billion, while Terna $2.3 billion. Furthermore, Energinet — a…

The Big Four Are Gearing Up to Become Crypto and Blockchain Auditors

Blockchain technology, along with the adoption of cryptocurrencies, is gaining momentum. The enterprise blockchain market is expected to reach $21 billion over the next five years. Just eleven years on, and both sectors have matured greatly, resulting in well-established organizations taking the technology more seriously as they tackle challenges that come with implementing blockchain and the use of digital assets. Unsurprisingly, professional services giants are among those taking a larger role in tackling new market challenges. The Big Four firms and Fortune 500 companies are working with a number of…

China’s TON Community to Launch Their Own Blockchain Network

Telegram’s terminated blockchain project, Telegram Open Network, or TON, keeps spawning new community-led TON networks.  While there are at least two global TON-based initiatives so far, namely Free TON and NewTON, the Chinese TON Community has opted to launch their own TON network. In a May 29 blog post, the Chinese TON Community voiced its intention to launch a separate TON-based network. The new effort comes in response to Telegram CEO Pavel Durov officially shutting down the firm’s involvement in the project, the post notes. Blockchain testnet is a first…

South Korea’s ICON Releases Blockchain Interoperability Protocol

ICON (ICX), South Korea’s largest public blockchain project, released its Blockchain Transmission Protocol (BTP) on May 28.  The protocol enables interoperability between individual blockchains, facilitating value transfer, service invocation and data exchange. Connecting the chains As blockchain technology has evolved, the multitude of competing networks springing up have largely been content to isolate themselves, occasionally looking at others for inspiration, but rarely fully interacting with one another.  ICON however, has always stated its mission to “Hyperconnect the World”, and this latest release is a large step towards that goal. BTP…

Canadian University Adds Two Blockchain Programs to Meet Job Demands

Canada’s York University School of Continuing Studies today announced two new university-level continuing blockchain programs — the part-time Certificate in Blockchain Development and the full-time Post-Graduate Certificate in Back-End and Blockchain Development. The university said their new courses aim to meet the rising demand for blockchain developer roles in Canada, especially in the Greater Toronto Area, where it has risen by 374% in the last two years. Helping people upskill and reenter the workforce The two courses, which are scheduled to start this September, will help students upskill and build…

How Blockchain Tech Is Revolutionizing Traditional Lotteries

In today’s evolving business world, industry leaders across the globe are turning to blockchain technology to revolutionize their respective industries. Although blockchain is still a relatively new concept, a growing number of companies are now investing in it. Blockchain has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency and low costs. One niche area that could be poised to benefit greatly from it is lotteries. Problems with traditional lotteries Although many global economies were soaring prior to the COVID-19 pandemic, the inefficiencies of mature…

Blockchain Development Firm Raises Nearly $28M in Funding

Blockchain technology firm, LayerX, has raised about 3 billion yen (equivalent to nearly $28 million) to further blockchain adoption. The Japanese version of Cointelegraph reported on May 28 that LayerX raised the funds from venture capital firms JAFCO, ANRI, and Yahoo Group. JAFCO board member, Keisuke Miyoshi, commented: “Corona has exposed various issues in Japan. It is further accelerating [digitization]. Blockchain is not just a technology buzzword.” The news follows April reports revealing that most of the fundraising in the crypto space shifted from the Americas to the Asia Pacific…

A Cross-Sector Blockchain Solution for Privacy Needs

According to a claim by Harvard Business Review, blockchain will do to banks what the internet did to the media. When it comes to the banks and financial organizations of today, blockchain has the potential to solve a host of problems. Blockchain technology possesses nearly all the attractive characteristics needed by a reliable technology involving money. It is safe, secure, decentralized, transparent and relatively cheaper.  Blockchain’s potential in financial services is significant and has several applications, spanning payments, capital markets, trade services, investment and wealth management as well as securities and…

Pandemic Spurs Top Port Operator to Join Blockchain Shipping Platform

The COVID-19 pandemic is prompting supply chain actors worldwide to focus their energies on becoming more resilient through better digitization — and in particular through blockchain technology. One of the world’s leading ports operators, DP World, announced on May 28 that it would be joining TradeLens, the blockchain shipping platform created by IBM and Danish logistics giant Maersk. TradeLens is a global supply chain solution with a focus on containerized freight and logistics, which was first launched by IBM and Maersk back in April 2018.  The platform’s broadening geographic scope…

Russia’s Biggest Bank is Buying 5000 Blockchain ATMs That Can Mine Crypto

Russia’s largest bank, Sberbank, has called for tenders to provide 4,917 ATMs with a built-in graphic card capable of supporting “blockchain operations”. Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency. Sberbank is Russia’s oldest and largest bank and holds almost 44% of all personal deposits in the country. It operates 14,200 branches and 77,000 ATMs across the country. The state is its largest shareholder and its Chairman and CEO, Herman Gref, was Russia’s former minister of Economics…