The World Economic Forum (WEF) today published a dedicated Blockchain report detailing how the technology will flow into the global economy.
Described as a white paper, Realizing the Potential of Blockchain provides background and suggestions as to how Blockchain will propagate throughout the world’s infrastructure.
From business to regulation, how disruptive innovation can be harnessed is forming an increasingly debated topic for international enterprises.
“This report helps us to understand that a distributed blockchain ecosystem need not be a disorganized one, and improved governance need not imply formal governmental legislation or regulation,” WEF Managing Board Member Richard Samans commented in a press release about the white paper.
More at: World Economic Forum Blockchain White Paper Gets Warm Reception
The US Commodity Futures Trading Commission has cited the advance of technologies like blockchain in a request to obtain additional funding for its oversight activities.
Testimony from acting CFTC chairman J. Christopher Giancarlo reveals that the agency – which oversees the sale and trade of commodity derivative markets in the US – wants an additional $31.5m in funding (for a total of $281.5m for fiscal year 2018) to help support its market surveillance work in an era of rapid technological change. Giancarlo’s request was sent to the US Senate Committee on Appropriations Subcommittee on Financial Services and General Government.
Among those technologies is blockchain, about which Giancarlo has struck a broadly optimistic note in the past. In a CoinDesk op-ed from December, he wrote that he believes “in its promising benefits for the financial marketplace and financial regulators”.
Source: CFTC Chief Asks Congress for More Money to Oversee Blockchain – CoinDesk
Douglas Adams got it all wrong, it seems. The answer to the ultimate question of life, the universe and everything is not 42 — it’s blockchain, some will argue. Can the technology behind Bitcoin transform the world or should we take it with a grain of salt? We invited eight blockchain influencers to weigh in on its value and look beyond the hype.
More at: Can blockchain transform the world? 8 influencers weigh in on its value – JAXenter
Head of Aerospace and Defense at Accenture John Schmidt has said he “really sees Blockchain coming into” the industry over the next two to three years.
Speaking at the Paris Air Show, Schmidt outlined a range of ways in which the aviation industry, which is increasingly warming to Blockchain, could benefit from the technology.
“Through all that life cycle of the engine, the original parts, the replacement parts and configuration are all being tracked, and it is being done by a number of different companies,” he said giving an example of maintenance.
“Blockchain is in effect a single federated ledger that everybody who uses and touches that engine could use it as a single point of truth of what has happened to the engine.”
More at: Blockchain Will Come Into Industry in Two Years: Accenture Aerospace Head – The Cointelegraph
Consortium startup R3 has completed a prototype for issuing short-term debt over a distributed ledger system.
Built on R3’s Corda platform, the project saw participation from four banks – ABN Amro, Commerzbank, ING and KBC – and is said to be able to reduce costs and operational risk when issuing and trading euro commercial paper, while providing added transparency.
As a next step, the four banks expect to work with R3 to move the project toward possible production, though not before absorbing industry expertise from software vendors and short-term debt issuers, and seeking feedback from regulatory bodies.
More at: R3 Completes DLT Commercial Paper Prototype with Bank Partners – CoinDesk
The world’s largest multilateral development bank is launching a blockchain lab as part of a bid to pilot projects that can improve governance and social outcomes in the developing world.
The World Bank, based in Washington, DC, officially launched the venue Tuesday morning to serve as a forum for learning, experimentation and collaboration on distributed ledger technology. The blockchain lab will now seek to bring together internal and external participants to work on blockchain use cases of significance to the bank’s more than 80 client countries.
Core focus areas will include land registry, digital identity, aid distribution and financial infrastructure.
More at: ‘End Poverty, Restore Trust’: World Bank Dives into Blockchain with Lab Launch – CoinDesk
The maintainers of Hyperledger Fabric, a platform for distributed ledgers supported by a modular architecture that delivers high degrees of flexibility, confidentiality, resiliency and scalability, have published their first release candidate for testing, according to the project’s blog.
he first release candidate is v1.0.0-rc1, according to Christopher Ferris of IBM and Jonathan Levi of Hacera, release managers for Hyperledger Fabric 1.0.
Hyperledger Fabric is the first of five incubator projects to graduate from Hyperledger, an umbrella for software developer communities creating open source blockchain and related technologies supported by the Linux Foundation.
Hyperledger Fabric is designed to support pluggable deployments of different components, and to accommodate the intricacies existing across the economic ecosystem. Capabilities include identity management, privacy and confidentiality, efficient processing, chain code functionality and modular design. IBM provided the codebase for the project.
More at: Hyperledger Fabric Publishes Release Candidate Blockchain for Testing – CryptoCoinsNews