The cryptocurrency market continues to extend the gains it had at the beginning of this week. In particular, Bitcoin (BTC) has gained nearly 22% in the past three days to trade at $3,800 levels. Altcoins such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Tron, and Cardano (ADA) have gained between 20% and 30% in the same period. Notably, EOS (EOS) and Stratis have increased 40% and 97% to trade at $2.25 and $1.25, respectively.
Government level initiatives
Korean government explores blockchain
According to a press release from South Korea’s Ministry of Science, ICT and Future Planning (MSIT), two government ministries have initiated a blockchain trial for the advancement of port logistics.
MSIT and the Oceans and Fisheries Ministry are supposedly testing whether the innovation can improve the efficiency of the Korean container shipping industry. The pilot run will continue for a span of one year in the port of Busan, which is the largest port of South Korea. Busan is also the fifth busiest container port in the world.
The initiative intends to determine whether the use of blockchain technology can increase transparency between all participants in the logistics industry, simplify administrative procedures in import and export operations and permit data sharing in real time.
KfW trials blockchain technology
The major German state-owned bank KfW and the Ministry of Finance of Burkina Faso will trial a blockchain solution for public finance management. KfW, positioned as the third-largest bank by total assets in 2017, signed a deal with the Government of Burkina Faso in June of 2018 to offer the nation a loan of €7 million ($7.9 million) to fund the building of a water and sanitation facility.
According to the latest blockchain announcement, TruBudget, an open-source app built by KfW, will be trialed by global consulting firms Accenture and BearingPoint in Burkina Faso, Africa, in the next six months.
The application permits clients to store and endorse all contracts in the industry in real-time using blockchain. The bank anticipates that it can assist in decreasing extensive manual procedures and ensure the correct utilization of funds.
Private level initiatives
Acciona Energía intends to use blockchain technology
ACCIONA Energía, a Spanish renewable energy company, will set up a blockchain to track power generation. The global renewable energy company is supposedly generating emission-free energy for over 6 million households.
The company is recognized as one of the largest developers of renewable energy, with over 9,000 MW installed capacity. ACCIONA started the venture after signing a contract with FlexiDAO, a Barcelona based start-up that gives electric power companies software systems for digital power services. With this move, ACCIONA intends to permit its customers to authenticate the source of electricity.
ACCIONA and FlexiDAO worked jointly to build a commercial demonstrator that tracks the supply chain of renewable power generation from five wind and hydropower plants in Spain to four Portuguese corporate clients.
Atari signs licensing agreement with Animoca Brands
The gaming company, Atari, has signed a licensing agreement with Animoca Brands, a blockchain startup to develop blockchain versions of two popular mobile games.
Atari, the developer behind video games such as Pac Man and Tetris, says the licensing agreement permits Animoca to create and globally publish blockchain versions of Atari’s mobile games “Goon Squad” and “RollerCoaster Tycoon Touch,” excluding China, Taiwan, Hong Kong, and Macau.
RollerCoaster Tycoon Touch, which has been downloaded 19 million times, has seen a further increase in popularity with the introduction of new features such as “Water Park” expansion and partnership with “Food god” Jonathan Cheban.
Both firms have also signed a memorandum of understanding (MoU) to explore joint opportunities in product development, gaming, and blockchain technology.
GMT joins Ripple’s network
The Israeli financial services company GMT has joined Ripple’s network of banks and payment providers. As a consequence of a “long and accurate process,” the move is said to assist the company stay “on the front” of the domestic financial sector.
Ripple, which employs XRP tokens to make blockchain-based financial products function as intended, is collaborating with numerous financial institutions and banks to expand its global reach.
GMT has issued the following statement regarding the partnership: “After a long and precise process GMT was chosen to be Ripple’s representative in Israel, by so joining Ripple, and its partners, in creating a global financial system, with high-end technology and values such as; [sic] transparency and affordable costs.”
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