The cryptocurrency market continues to trade in a tight range, with Bitcoin (BTC) oscillating between $30,000 and $35,000. While writing this article, Bitcoin was trading at $34,970, down 2.4% in the past 24 hours. Ether (ETH), which is scheduled to implement a protocol upgrade this week, has gained 2.5% to trade at $2,257. XRP has lost 0.8% to trade at $0.6934.
Major altcoins, which have gained ground in the past 24 hours includes Tezos (XTZ-3.05, 3.01%), Tron (TRX-$0.0676, 0.10%) Binance Coin (BNB-$301.70, 1.30%), Cosmos (ATOM, $11.88, 2.40%), IOTA (IOTA-$0.8372, 0.20%), EOS (EOS-$4.17, 0.30%), Cardano (ADA-$1.37, 1.10%), Dash (DASH-$144.54, 3.90%), and Bitcoin Cash (BCH-$524.86, 0.40%). Likewise, major altcoins, which have lost ground in the past 24 hours includes ChainLink (LINK-$19.24, -0.70%), Bitcoin SV (BSV-$145.46, -4.80%), Polkadot (DOT-$16.21, -0.80%), and Stellar (XLM-$0.2806, -0.10%).
Private sector initiatives
Nihon Unisys to launch a security token platform
Nihon Unisys stated that it intends to roll out a security token platform next year. The blockchain platform will facilitate the issuance, reassignment, and repurchasing of security tokens. In general, tokenization of platforms is not only for the digitization of stocks but also for the tokenization of other products, including real estate.
To begin with, Unisys will back ERC-20 Ethereum tokens and intends to support non-fungible tokens in the future, aiding digital art and other kinds of intellectual property.
Earlier, Unisys was using the enterprise version of the Ethereum blockchain, and it did not explain whether the platform will be hosted on a public or permissioned network. Irrespective of the kind of blockchain used, security tokens must comply with all legal requirements.
Unisys is a member of the Japan Security Token Association (JSTA), one of the two main member bodies in Japan. Even though JSTA mainly has tech firms and corporates as members, a large percentage of the country’s major financial institutions are a portion of the Japan Security Token Offering Association (JSTOA). Other members include SBI Securities, Nomura Securities, SMBC Nikko Securities, and Daiwa Securities.
Digital Asset and Nasdaq reach an agreement
Digital Asset has inked an agreement with Nasdaq to incorporate its smart contract language DAML in the software platform, named the Nasdaq Marketplace Services Platform, offered by the latter to various organizations.
Digital Asset further stated that its clients who are already utilizing DAML could link to marketplaces utilizing Nasdaq’s software.
Digital Asset has numerous high-profile capital market clients, including the Australian Securities Exchange (ASX), HKEX, and SGX.
Commenting on the partnership, Johan Toll, Head of Digital Assets, Market Technology at Nasdaq, “The partnership with Digital Asset is another step forward in Nasdaq’s journey to create a dynamic marketplace that supports all kinds of markets worldwide. […] we see opportunities for this technology in similar types of non-financial markets where supply and demand needs to be matched and later settled in blockchain or other platforms.”
Hapag-Lloyd and Ocean Network Express start using TradeLens
Hapag-Lloyd and Singapore-headquartered Ocean Network Express (ONE), the fifth and sixth largest container lines, have started using the blockchain technology-based TradeLens platform for improving the efficiency of their business.
Notably, both carriers had announced their interest in adopting the platform two years ago. The platform was created through a partnership between IBM and Maersk.
TradeLens intends to digitize shipping info, mechanize relevant shipping procedures and pave the way for other members of the platform to disburse data in a permissioned way utilizing enterprise blockchain.
With the inclusion of the firms mentioned above, TradeLens is now used by five out of the top six container lines. In addition to Maersk, CMA, CGM, and MSC started using the platform in October 2020. TradeLens has also pointed out that it is currently facilitating connectivity among two-thirds of container lines.
Jeremy Nixon, CEO of Ocean Network Express, said, “We believe TradeLens can bring together all parties in the supply chain to the digital ecosystem where customers can get seamless, transparent, and secure sharing of shipping milestones and trade documents.”
LG CNS association nabs South Korean government contract
An association headed by LG CNS has received the South Korean government contract to create a mobile driver’s license that utilizes decentralized identity (DID) technology.
The mobile driver’s license will function as a digital national identity proof created using the driver’s license given by the National Police Agency. The digital national identity will act as a substitute for the plastic driver’s licenses and should be rolled out by the end of this year.
It is the foremost national identity credential, based on blockchain and DID technology. Other partners of the consortium are Sysone and Raon Secure, a founder of the DID Alliance and the OmniOne blockchain.
Lee Soon-Hyeong, Raon Secure’s CEO, said, “Through DID technology that realizes sovereign identity (SSI), all citizens will be able to enjoy the next-generation identification service that is safer and more convenient than the existing system.”
The credential enables its owner to have control over the data that is being shared. Furthermore, it is virtually impossible to create a duplicate.
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