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Oracle Blockchain Chief: Stacking Technologies Is The Real Key To Adoption

Blockchain technology is continuing to make inroads into the business world, with established tech giants joining startups in seeking new applications for the distributed ledger. However, there several other ingredients are needed before this technological cocktail really starts to fizz.  That’s the message from Anant Kadiayala, senior director of blockchain and IoT at Oracle. In his role, Kadiyala oversees the software giant’s efforts to provide enterprise-ready solutions, such as the Oracle’s Blockchain Platform or the Intelligent Track and Trace application, which are based on Hyperledger Fabric. Some of these efforts are already paying dividends. “We have a few customers in production,” Kadiyala told Crypto Briefing during the Consensus conference. One example is Circulor, which is focused on tracking the elements and minerals which are used to produce electronics, such as cobalt and lithium. “They’re tracking the provenance and making sure that the sourcing is from legally sourced mines,” Kadiyala explained. “There are UNICEF reports out there that these mines are rife with child labor and other illegal practices.” Other clients on the Oracle roster include the World Bee Project, which uses a combination of IoT and DLT technology to track the provenance of honey production; Certified Origins, which tracks the provenance of organic olive oil, and Everledger, which tracks luxury items, gemstones, and high-tech electronics. Supply-chain problems represent an ideal use-case for blockchain technology, since they require the coordination of multiple parties at every step of the process. “Up until now companies have been putting enormous amounts of manual effort, semiautomated effort, to manage the complex supply chains,” Kadiyala said. He added: “Just imagine your lettuce coming from farms in Guatemala to here, and we eat it in a salad without even thinking twice. It takes an enormous amount of care and handling all the way across to get here in a safe way. Up until now it was hard to track and trace, but companies have been doing their best effort. So now we have new technologies like blockchain, when you couple that with IOT and machine learning now we have much better tools to be able to solve these historically challenging problems.” The other parts of the puzzle. But there are still obstacles to be crossed before blockchain tech is as ubiquitous as smartphones. One of the major obstacles is the technical complexity of ledger technology, which remains intimidating even to skilled developers. “As you can imagine, standing up a blockchain network is not for the faint heart. It’s a fairly complicated undertaking,” Kadiyala said. “Developers need to know a lot of different concepts to get it up and running to production successfully.” Oracle is seeking to streamline those complexities by reducing some of the pain points for developers and businesses. “We’ve done a lot of innovations beyond what Hyperledger Fabric offers out of the box, predominantly in the areas of developer experience,” Kadiyala explained. “We did a lot of automation and simplification to Hyperledger Fabric, making it easily accessible to developers so they can get to production quickly.” Another obstacle is the lack of complementing technologies, which also need to develop before blockchain tech can realize its full potential. “With all technologies, each one will involve by themselves and come to a point where all of them have a certain level of maturity,” Kadiyala said. “When they click together, all of them have a certain amount of reverberation from there on.” For example, smartphones were not the result of any single discovery or invention—multiple threads of innovation had to ripen before mobile technology could become a half-trillion dollar industry. Likewise, DLT  requires mature Internet-of-Things and machine learning technologies before it can realize its full potential, especially in the world of supply chains. “IOT and machine learning are very closely intertwined,” the director explained. ” As the devices are sensing and streaming data, it’s the machine learning algorithm that is really making sense out of it, giving insight into what we’re going to do with it.” These three technologies could provide a perfect cocktail for the retail and shipping industries, allowing everyone involved—from the senders and receivers to the insurers and recipients—to have access to all relevant data and to act as soon as it becomes available. “Then one plus one is not two anymore,” Kadiyala says. “It’s five or six, so the cumulative effect or value derived is much more.”   The post Oracle Blockchain Chief: Stacking Technologies Is The Real Key To Adoption appeared first on Crypto Briefing.
CryptoBriefing

Gaining Mass Adoption: Blockchain Platform Converts Users Fame Into Coffee and Clothes

Gaining Mass Adoption: Blockchain Platform Converts Users Fame Into Coffee and Clothes Mithril, a decentralized platform that rewards content creators on social networks, told Cointelegraph that they are working on expanding the acceptance of its MITH token merchant network into different categories, such as coffee shops, restaurants, sports clothing and adult entertainment platforms. For instance, […] Cet article Gaining Mass Adoption: Blockchain Platform Converts Users Fame Into Coffee and Clothes est apparu en premier sur Bitcoin Central.
Bitcoin Central

Fantom Selects Fusion's Industry-First Interoperability Solution to Broaden Compatibility and Fast-track Adoption of Fantom DLT

New York, May 17, 2019 (GLOBE NEWSWIRE) -- Fusion Foundation, the non-profit organization building the next generation infrastructure for decentralized global finance, today announced that Fantom Foundation has selected Fusion's cutting-edge interoperability solution to expand the accessibility and reach of Fantom's Direct Acyclic Graph (DAG)-based distributed ledger. Fantom's DAG-based distributed ledger technology (DLT) incorporates new methods of scalability, combined with a high-performance virtual machine, and secure smart contract execution.  Its ground-breaking consensus mechanism employs "gossip about gossip" rationale to reach Asynchronous Byzantine Fault Tolerant (aBFT) consensus, which is considered to be the gold standard in security for distributed systems. The Fantom protocol supports sophisticated peer-to-peer communication that emulates the spread of gossip. With speed and flexibility, Fantom's network is being built to serve as the backbone to power smart cities and lightning ...Full story available on Benzinga.com
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DIGEST

Updates on Shift Card, Bank of Lithuania and ETF rules in Indonesia, police to tackle some crimes in Canada India and Turkey, IIT Bombay to join Ripple's UBRI, UAE waste permit portal on blockchain, Germany's interest and Spain's skepticism, Oracle for Czech SDK.finance

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HIGHLIGHT

There are 4k crypto ATM worldwide, according to Сoinatmradar. The leader is North America with 71.3% of all machines installed, following by Europe (25%) and Asia (2.56%). The most popular altcoins are LTC and ETH, correspondingly. Rates come up to 8.85% buying rate and 7.9% selling rate on average

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OPINION

Why Thinking In Terms Of Crypto Doesn't Work

The developers of Samurai wallet removed fiat conversions, explaining that people should understand that by sending Bitcoin they send Bitcoin, not dollars, so there's no need to think in fiat terms. But this seems like an improper decision...

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Twitter Spoof: BitConnect 2.0 to Return in July; BCC Token to Rise from the Crypto Graveyard?

Bitcoinnect is known for its high yield investment platform Bitconnect.co. The company had a cryptocurrency Bitconnect Coin (BCC) which investors bought with Bitcoin to gain a 0,25% daily interest. The company also has a lending platform and exchange which closed due to warnings from Texas and North Carolina authorities. Some unknown person is however working […]
Bitcoin Exchange Guide

MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2%

MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2% A vote about whether to decrease the so-called stability fee for MakerDAO’s ethereum blockchain-baseddecentralized stablecoin DAI has started. The vote was announced on the organization’s blog on May 17. If approved, the latest proposal would decrease the stability fee by 2% to […] Cet article MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2% est apparu en premier sur Bitcoin Central.
Bitcoin Central

Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance

Bitcoin bulls have turned out to be more relentless than the most have predicted from its historic prices. However, the fundamentals around Bitcoin [BTC] seem to be stronger than ever with the Bitcoin virus apparently spreading to the east now. Mati Greenspan, the senior market analyst at eToro tweeted, “BTC on the move again… Asian market certainly doing their bit today.” This is coming after a huge pullback on 17th May 2019. A Bullish Marubuzo with was seen in the 0: 00-4: 00 Hours UTC on 19th May as the market broke above $8000 again. This the second time the market has attempted to break it after a huge correction. BTC/USD 1-Day Chart on Bitstamp (TradingView) The other four performing coins Opening Price: $6968 Closing Price: $8109 The weekly gains: 11% Weekly High/Low: $8390/$6178 Binance [BNB] Coin Binance [BNB] coin was trading in the red in the last week’s update trading around $20. Nevertheless, the token started picking up value again as normal operations began at Binance Exchange after the hack. This week Binance also initiated the process of burning token from the Ethereum blockchain to process them on the native Binance Blockchain. BNB/USD 1-Day Chart on TradingView Opening Price: $20 Closing Price: $29.5 The weekly gains: 40.6% Weekly High/Low: $32.2/$19.9 Stellar [XLM] Stellar’s rise was higher than most coins during the week as it held gained 35% on a weekly scale. The Stellar validators were reportedly shut down for two hours on 15th May 2019. As Bitcoin continued to correct and rise, Stellar held it gains above 0.00001750 BTC. XLM/USD 1-Day Chart on Bitfinex (TradingView) Opening Price: $0.10 Closing Price: $0.14 The weekly gains: 46% Weekly High/Low: $0.16/$0.117 Ethereum [ETH] Ethereum has been the top performer in leading altcoin gains in terms of total market capitalization. The total market capitalization of Ethereum is above $25 billion. It still accounts for more than 10% of the total capitalization of cryptocurrency markets. Also Read: Ripple’s XRP and Ethereum Fight for 2nd Place Behind Bitcoin In The Wake of a Bull Run ETH/USD 1-Day Chat on Coinbase (TradingView) Opening Price: $188 Closing Price: $259 The weekly gains: 38% Weekly High/Low: $281/$185 Tezos [XTZ] Tezos [XTZ] has been one of the best performing coins of the year. It has gained more than 100% before the bull run on Bitcoin began. The gain was influenced by the Coinbase allowing Tezos [XTZ] as the first coin which could be staked/forged on the Coinbase Custody platform. It was on the rise again this week as the market seems to have broken bullish since the beginning of the month. It broke above $1.75 as it set sights on to $2. XTZ/USD 1-Day Chart on Bitfinex (TradingView) Opening Price: $1 Closing Price: $194 The weekly gains: 25.4% Weekly High/Low: $207/$157   XRP, Dash, IOTA, and Cosmos [ATOM] The almost all altcoins were in the green on a weekly scale. While the above-mentioned cryptocurrencies rose higher than the rest, XRP, Dash, IOTA, and Cosmo [ATOM] also registered more than 20% gains. The gain in XRP was considerable as it broke above the $18 billion market capitalization. Moreover, the weekly rise is about 25%. The dominance of XRP over cryptocurrency market is about 7%. The rise of Dash, IOTA, and ATOM is 21%, 31% and 23$ respectively on a weekly scale. XRP/USD 1-Day Chart on Bitstamp (TradingView) *The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.5 billion is 0.23%. Hence, for Analysis purpose we will only consider cryptocurrencies with a total market capitalization $0.5 billion or more. For future analysis, we’ll try to maintain 0.25% as a standard for the calculation. **The data is taken at around 11: 00 Hours UTC on 19th May 2019.  The post Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance appeared first on Coingape.
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