Chinese Telecom Exploring Use Case Of Blockchain

Three mobile phone operators: China Mobile, Unicom and China Telecom and other companies such as Huawei, Union Mobile and Financial Technology (UMF) launched a research group which consists of 20 experts in order to build a trustworthy blockchain application team that will efficiently and effectively explore the blockchain area.

The conglomerate will seek to increase understanding of blockchain applications such as digital assets, telecommunication assets and next-generation telecommunication network.

It can be said that China has a very bullish sentiment on the value of Blockchain Technology.

Binance And Neufund To Build First Decentralized Stock Exchange

A joint venture between Binance and Neufund has been initiated to build the world’s first decentralized stock exchange.

Neufund is the newly launched subsidiary of the Malta Stock Exchange.

It is said to be the first of its kind, an exchange that is fully regulated and decentralized, a global stock exchange for listing tokenized securities as well as crypto-assets.

While it has not garnered regulatory approval there are already some details on what will be the roles of the parties involved.

Binance will be tasked to build the platforms architecture while Neufund will facilitate the processing of Equity Token Offering (ETO) en masse, as a legal means of blockchain-based initial offerings by companies who wants to raise funds.

Blockchain Toolkit From Google Cloud Released

Google Cloud has recently announced that it is releasing Blockchain Developer Toolkit that will enable enterprise software developers to build blockchain apps without having to build the entire platform themselves.

This was made possible with the collaboration of Google Cloud and Digital Asset whose CEO, Blythe Masters, was a former JPMorgan executive.

Leonard Law, the Head of Financial Services Platform at Google Cloud believes the Distributed Ledger Technology has great potential not only in the financial services sector but also in other industries as well.

Blythe Masters on the other hand expresses confidence that with the new partnership, both companies will be able to provide a full stack solution that will enable their users to unleash the full potential of web-paced innovation in the blockchain.

They both believe that this will lower the barrier to entry for software developers who wants to test out developing applications on the blockchain.

Ernst & Young Crypto Technology Acquisition

As part of their strategy to expand their blockchain-related capabilities and services worldwide and position themselves as one of the premier cryptocurrency accounting and tax firm, Ernst & Young LLP (EY) has acquired the technology assets and related patents of the Andy Crypto-Asset Accounting and Tax (CAAT).

This technology was developed by Elevated Consciousness Incorporated and said to have the capability of connecting multiple cryptocurrency exchanges and wallets, allowing for better visibility into cryptocurrency transactions and inventory.

It was revealed that the new acquisition will be integrated with EY’s blockchain Analyzer which was intended to lay the foundation for automated audit and test of blockchain assets, liabilities, equity and smart contracts.

General Electric Invests In Blockchain Cybersecurity Startup

The industrial conglomerate General Electric (GE), through its venture capital arm has participated in a $12 million series A fundraising round for Xage, a startup cybersecurity firm that uses blockchain technology in securing linking industrial internet of Things (IoT) devices.

According to Abhishek Shukla, the managing director of GE ventures for industries, to flourish and leverage the IoT revolution, organizations must fully connect and protect their operations.

He believes that Xage will enable companies to adopt cutting edge technologies across energy, transportation, telecom and other industries.

The technology that Xage developed is a distributed network of devices which are capable of authenticating each machine’s digital fingerprint.

This way there is no single point of failure and prevents attacks from spreading which is a common vulnerability of centralized systems.

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