Bavaria to Give Blockchain-Powered Training Certificates

Bavaria to Give Blockchain-Powered Training Certificates
November 26, 2019

 

After remaining sluggish for nearly 10 days, the cryptocurrency market is showing signs of bullish reversal. Bitcoin (BTC) has gained 6% to trade at $7,177.58 in the past 24 hours. Ether (ETH) has also followed suit with a 7% gain to trade at $147.70. XRP is trading at $0.2187, representing a gain of 3%. Other major altcoins, which has gained in the past 24 hours include TRON (TRX-$0.0143, 5.7%), Monero (XMR-$50.43, 8.1%), Huobi (HT-$2.52, 10.1%), IOTA (IOTA-$0.2101, 6.6%), Litecoin (LTC-$46.18, 4.8%),  Ethereum Classic (ETC-$3.84, 4.4%), Dash (DASH-$50.28, 0.3%), Stellar (XLM-$0.05739, 3.5%), Cardano (ADA-$0.0365, 5.9%), Cosmos (ATOM-$3.59, 17.7%), Bitcoin Cash ($210.48, 4.8%), EOS (EOS-$2.57, 7.7%), Binance Coin (BNB-$15.42, 5.4%), OKB (OKB-$2.10, 11.3%), ChainLink (LINK-$2.26, 4.5%). The altcoins (top 20 list) that have lost ground in the past 24 hours are Tezos (XTZ-$1.23, 4.0%), LEO (LEO- $0.9037, -1.7%).

 

Government level initiatives

Finland taking action after receiving cyberattack threats

Finland is gearing up to protect itself from an unidentified protestor group that threatened to organize cyberattacks unless a Bitcoin ransom is paid. The exercise is seeing participation from more than 200 Finnish public organizations and municipalities. The initiative involves hypothetical hacking by a team demanding ransom, followed by cyberattacks.

The precautionary measures are being taken as a straightforward response to threats issued by a protestor group, which branded itself #Tietovuoto321 (“data breach 321”) and demanded Bitcoin from 235 public offices in Finland.

Under the initiative, websites of government offices and municipalities faced simulated attacks twice in October. Another exercise is planned for next week.

 

Germany to issue blockchain-based training certificates with electronic key

In partnership with the Digital Ministry of Germany, the Chamber of Industry and Commerce of Munich and Upper Bavaria intends to hand over blockchain-based training certificates in the second quarter of 2020. With blockchain-based certificates in place, employers will be able to assess whether the certificates are original with the assistance from electronic key.

The Minister of State for Digital Affairs has informed that employers will utilize an electronic key to validate the originality of certificates using blockchain technology.

The Digital Ministry will establish a web application that permits enterprises to validate the originality of certificates utilizing blockchain-powered hash values. Applicants can remit the key with a PDF file to the enterprises. Once the key is input to the web application, it will result in instant verification of the document.

Judith Gerlach, Digital Minister of the Free State Bavaria, stated, “This offers a huge advantage for both applicants and companies. The authenticity of certificates can be checked in just a few clicks. This is a kind of digital quality seal — Blockchain, Made in Bavaria.”

Gerlach further stated that if blockchain technology demonstrates itself dependable, the Free State of Bavaria could begin issuing blockchain-based school and university certificates in the years ahead. Gerlach said: “The certificates are a first step for the concrete use of blockchain in administration and can theoretically be extended to any type of document, whether a certificate, deed or contract. We want to launch more practical applications soon.”

 

Blockchain-backed platform Tribe joins up with Tezos

Singapore government-backed blockchain platform Tribe has joined hands with Tezos to provide a training program for Tezos blockchain programmers. The non-profit division of Tezos, Tezos Southeast Asia (TSA), is committed to popularizing Tezos in South East Asian region. Following the partnership as mentioned earlier, efforts are made to lure programmers for building highly efficient blockchain-based systems for real-world apps. The training program is scheduled to begin in the first quarter of 2020.

 

Private sector initiatives

Chinese film to be funded and distributed by Alibaba blockchain-tech

The film division of e-commerce giant Alibaba intends to use blockchain technologies in an attempt to fund and distribute Chinese film. To distribute the movie named ‘Striding into the Wind,’ the venture will see Alibaba Pictures partner with Breaker.

In an attempt to boost returns on the venture, it is crucial that the film is distributed outside China’s borders. To accomplish the objective, Alibaba Pictures is using blockchain to tokenize the film distribution rights, which were acquired by Breaker.

By tokenizing film financing, content producers will be able to access a larger pool of investors, boosting the probability of getting their venture off the ground. The platform assists both film creators and investors who wish to enter the film industry.

 

Oman SAOG, Oman Oil, and Orpic Group complete first trade funding deal

HSBC Bank Oman SAOG and Oman Oil and Orpic Group have completed the first trade funding deal using enterprise-level, blockchain technology-based R3 Corda platform. The funding deal was part of the sale of polypropylene to Abu Dhabi National Carpet Factory.

The transaction was initiated by HSBC Oman, which opened a totally digitized L/C (letter of credit) using the blockchain platform, with Oman Oil and Orpic Group being the beneficiary. The deployment of blockchain technology facilitated the parties to finish the deal within 24 hours in contrast with the standard 5 to 10 days.

Nizar al Lawati, CFO at Oman Oil and Orpic Group, pointed out that the enterprise is the first one to advance the digitization of trade funding via blockchain. Commenting on the trade funding deal, Sadiq al Lawati, finance and strategy commercial value associate at Oman Oil and Orpic Group stated: “This Blockchain pilot is an important station in our journey towards digitization, a journey that started with Artificial Intelligence (RPA++) and continues to embrace new disruptive technologies.”

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.

Sammy

Sammy

Sammy is our forex expert, with over 20 years experience in the financial sector, she will be keeping you up to date with the ups and downs of currencies around the world


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