NTT Data, Japan’s largest IT services firm, has announced a new blockchain consortium with members representing a number of varying industries.
In an announcement this week, NTT Data unveiled details of the working group which will see 13 founding members unite to explore use cases for blockchain technology. The companies represent industries such as insurance, logistics and import & export trade, NTT data revealed.
Due to be established on August 30 with an official launch, the consortium is expected to last until March 2018. Its objectives include tackling issues in the lead-up to practical applications of blockchain technology, validating the feasibility of blockchain applications before planning a sweeping systemization of the innovative decentralized tech for the future.
More at: Japan’s Largest IT Firm NTT Data Unveils New Blockchain Consortium – Cryptocoins News
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There is opportunity in convincing consumers that they can actually believe in labeling claims that promise nutritional and socio-political benefits when branded products are purchased. And to follow Edelman’s logic, the impetus for such efforts needs to originate from the industries themselves, not from top-down regulations promulgated by government officials and politicians who carry little credibility with the public.
To that end, a small group of producers, organized as the Arkansas-based Grass Roots Farmers’ Cooperative, is employing blockchain technology to trace its meat products from farm to fork.
According to a news release about the program, “Blockchain technology allows for public verification of information in the food chain. Shoppers and diners will be able to scan QR codes on Grass Roots products to learn where the meat came from and how the animals were raised.”
That so-called “digital history” will also include stories about the people involved, producers, farmers and butchers, who contributed to portioning and processing the final product.
More at: Meat of the Matter: The Trust Factor – Pork Network
The state of Illinois is expanding its work with blockchain, launching a pilot program aimed at applying the tech to the medical licensing process.
As reported last year by CoinDesk, the state unveiled a wide-ranging blockchain and cryptocurrency initiative last November. Illinois has since embarked on a multi-agency effort to explore public applications of the technology, while also releasing new rules for startups working with cryptocurrencies.
Now, the Illinois Blockchain Initiative has partnered with Hashed Health, a U.S.-based blockchain startup focused on medical applications, to see whether the tech can help streamline how medical licenses are issued and tracked.
The program’s backers expect to build a license registry and medical credential-sharing system running on a blockchain, with smart contracts automatically updating information. The ultimate goal is to create an authentic and transparent chain of records for patients and healthcare provider networks.
More at: Illinois to Trial Blockchain Tech in Bid to Track Medical Licenses – CoinDesk
The Illinois Blockchain Initiative has joined forces with Hashed Health, a blockchain company focused on healthcare innovation. Using distributed ledger technology, the partners seek to improve medical licensure in Illinois.
On August 8, 2017, the Illinois Blockchain Initiative announced that it has partnered with Hashed Health. The pair will collaborate on methods by which to enhance the “efficiency and accuracy of the medical credentialing process in Illinois” using a blockchain-based registry.
“In the short-term we anticipate this pilot will show how distributed ledger technology can help reduce the complexity of interstate licensing processes in Illinois,” noted Bryan Schneider, secretary of the Illinois Department of Financial and Professional Regulation (IDFPR).
More at: The Block Doctor – Distributed Ledger Technology For Medical Licensure – ETHNews.com
We’ve been so focused on the benefits blockchain has on the finance sector that we’ve forgotten about the legal industry. Enter the Accord Project, the world’s first consortium for smart legal contracts. It’s worth your attention because it seems to be the place where legal and tech come together. We invited Peter Hunn and Houman Shadab, founders of Clause.io to tell us more about the Accord Project and the aim of this initiative.
“Clause, with support from leading law firms and other organizations, including Linux Foundation’s Hyperledger, the International Association for Commercial and Contract Management (IACCM) and Clio, has launched the Accord Project to develop open source technology and standards for computational contracting,” according to the post announcing the initiative.
Brian Behlendorf, Executive Director at Hyperledger has stated that the Accord Project is “is an industry first that will facilitate the setting of much needed technical and legal standards for smart/computable legal contracts. The work that they [Clause] are doing in changing the nature of the contract using distributed ledger and other technologies will be greatly advanced with this initiative.”
We caught up with Clause co-founders Peter Hunn and Houman Shadab to talk about the Accord Project and the set of open source software development tools which will be established.
More at: Introducing the Accord Project: “The future of law will be revolutionized by legaltech” – JAXenter
In a recent blockchain trial, ING, along with Calypso Technology and R3 blockchain consortium, proved that the technology can help facilitate easier interaction in banks’ back-end infrastructures when processing trades.
Earlier in April, Calypso announced that it was developing a DLT application for trade matching confirmations in collaboration with R3 and a group of global financial institutions including Westpac Banking Corporation in Sydney, ING in Amsterdam, BBVA in Madrid, Banco de Credito del Peru (BCP) in Lima, and a large investment management firm in the US.
The partners carried out trade matching tests on R3’s distributed ledger technology platform Corda to process FX trades, and confirmed correct matching in real time across four different time zones, ING said.
“This is a big step in changing the way institutions process trade contracts,” said Ivar Wiersma, head of Wholesale Banking Innovation at ING.
More at: ING, Calypso, R3 successfully test blockchain-based trade matching application – EconoTimes
Hyperledger, the open source collaborative effort created to advance cross-industry blockchain technologies, has announced that Cisco has upgraded its General membership to Premier. As a Premier member, Ram Jagadeesan, Cisco Distinguished Engineer and Blockchain CTO, will join the Hyperledger Governing Board. Hyperledger Premier and General members represent a wide vertical of industries; Cisco joins other Premier members including: Accenture, Airbus, American Express, Change Healthcare, CME Group, Deutsche Borse Group, Daimler, Digital Asset, DTCC, Fujitsu, Hitachi, IBM, Intel, J.P. Morgan, NEC, r3., SAP, and Wanda FFan Technology.
More at: Hyperledger Adds Cisco as Premier Member – allcoinsnews.com