IBM & Nornickel To Establish Blockchain Education Center

IBM & Nornickel To Establish Blockchain Education Center
June 11, 2019

 

The cryptocurrency market, which was on a slight correction mode for the past two weeks, is showing signs of reversal. In the past 24 hours, almost all the major altcoins and Bitcoin (BTC) have gained ground against the US dollar.  While Bitcoin (BTC) has gained 4.1% in the past one day to trade at $7,953.98, Ethereum (ETH) has rallied 5.3% to trade at $245.77. Notably, Litecoin (LTC) has gained 20.1% in the past week and 12% in the last 24 hours to trade at a new yearly high of $128.46. One of the main reasons for LTC’s bullishness is that the halving of mining reward is due in less than 60 days. Precisely, on August 8th, the mining reward will decrease to 12.5 coins per block, from the current reward level of 25 coins.

Other altcoins which are trading with considerable daily gains include IOTA (MIOTA-$0.4245, 4.5%), Binance Coin (BNB-$31.68, 4.4%), Ripple (XRP-$0.3967, 2.4%), Stellar (XLM-$0.1228, 3.7%), Cardano (ADA-$0.0844, 5.7%), Bitcoin Cash ($389.82, 3.1%), Tron (TRX-$0.0310, 4.4%) and EOS (EOS-$6.39, 3.7%).

Government level initiatives

Republic of San Marino publishes regulations for blockchain technology

The Republic of San Marino has officially issued rules for the adoption of blockchain technology in various businesses. The document has been issued by Nicola Selva and Michele Muratori, the Captains Regent of San Marino.

The latest law summarizes steps for enrolling an organization focused or adopting blockchain with the “Istituto per l’Innovazione della Repubblica di San Marino,” or San Marino Innovation Institute.

As per the rule, blockchain-based organizations operating in the EU, San Marino or any other nation which is not categorized as “high risk” and perceived appropriate to come under the San Marino laws can file an application with the institute.

The institute lays down regulatory surety, and also oversight and imposition of those rules. Additionally, policy related to anti-money laundering (AML) is also enforced. This is specifically true for initial token offerings (ITOs or ICOs). The institute differentiates between utility tokens and security tokens concerning ITOs, which are described as follows: “Utility tokens … shall be regarded as vouchers for the purchase of services or goods offered by the Blockchain Entity… Security tokens … shall be digital assets which represent, alternatively, depending on the underlying instrument: a) participating instruments of the issuer; b) debt securities of the issuer.”

The rule also defines tax policies for security and utility tokens. Utility tokens will be categorized as foreign currency for tax calculations. On the contrary, Security tokens will be classified as debt securities or equities, banking on the kind of security token. Finally, both types of token will be spared from income tax for the cause of “income generated through operations” utilizing the tokens.

Private sector initiatives

Boehringer Ingelheim collaborates with Solve.Care

Boehringer Ingelheim, the German pharmaceutical company, has joined hands with Solve.Care, a blockchain-based healthcare platform. Listed in the top 20 pharma firms across the globe, Boehringer Ingelheim intends to create a blockchain and crypto asset-backed network for reliable sharing of information about patients who have diabetes.

The unique healthcare system, based on Solve.Care’s blockchain platform, is referred to as the Diabetes Care Administration Network. The network aims to offer assistance in strengthening patient care and also disburse data related to risks related to diabetes, indications, and prevention, to mention a few.

To help those suffering from diseases, the network will adopt dubbed Care.Wallets, Solve.Care’s care assistance tool.

The care network is anticipated to start functioning sometime before the end of this year. The system will initially be launched for more than 25,000 patients who are members of Arizona Care Network (ACN), a major American accountable care firm.

Khanty-Mansiysky District to launch a blockchain-powered tourism platform

The Khanty-Mansi Autonomous Okrug – Yugra, an autonomous okrug district in western Siberia, Russia, was established in 1930 for the Khanty (Ostyak) and Mansi (Vogul) peoples, intends to launch a blockchain-powered tourism platform.

Last week, at the St. Petersburg International Economic Forum, Roman Genkel, the general director of the region’s improvement fund, inked a deal with Alexander Borodich, the CEO of blockchain company Universa, to develop the platform.

Universa’s blog post states that the system will facilitate monitoring of public expenses and investments to guarantee transparency. The company explained the benefits of a distributed ledger as follows: “Tagging the money using distributed ledger technology will protect government grants and investments against misuse.”

The firm aims to build the platform in such a way that it supports multiple languages, with the final goal of linking all partakers in the tourism ecosystem. This includes providers of services and products related to investors, tourists, transportation, and hospitality providers.

IBM joins hands with Nornickel

Software giant IBM is collaborating with Nornickel, a Russian producer of nickel and palladium, to create a blockchain based educational program. The Moscow-headquartered firm has entered into a contract with IBM and the Moscow Institute of Physics and Technology (MIPT) to establish a study and training center for experts to build digital technologies for the mining and metals sector.

The deal was inked on June 6th at the Saint Petersburg International Economic Forum by Sergey Batehin, Nornickel’s VP, Iris Dzeba, IBM’s general manager in Russia and CIS countries, and Nikolay Kudryavtsev, the MIPT’s rector Nikolay Kudryavtsev.

The critical tasks for the forthcoming MIPT-based educational center include research and development of digital ecosystems in sectors such as blockchain and Internet of Things (IoT) and coaching to students.

The university also plans to structure and launch master’s and postgraduate programs, with the first batch of students in the “blockchain” major anticipated to begin studying in fall 2019.

Of late, Ireland-based Dublin City University collaborated with tech company Technology Ireland ICT Skillnet to unveil the first master’s program in blockchain technology. Last month, the Maltese government awarded $179,000 in the form of blockchain scholarships to 19 students who joined a master’s degree in blockchain and distributed ledger 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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