Icertis Partners with Microsoft to Widen Blockchain Network

Icertis Partners with Microsoft to Widen Blockchain Network
June 18, 2019


The cryptocurrency market remains range bound with a slight bullish bias. Bitcoin (BTC) continues to consolidate above $9,000. Litecoin (LTC), which will undergo halving of mining reward, is trading at $132.20, down 2.3% in the last 24 hours and up 2.2% in the past one week. Roughly, on August 8th, the mining reward will decrease to 12.5 coins per block, from the current reward level of 25 coins. Likewise, IOTA (MIOTA) has lost 2.8% in the past 24 hours to trade at $0.4370. Other altcoins which are trading with daily gains include Binance Coin (BNB-$34.51, 6.2%), Ripple (XRP-$0.4452, 4.1%), Stellar (XLM-$0.1293, 0%), Cardano (ADA-$0.0922, 0.2%), Monero ($97.78, 2.1%), Tron (TRX-$0.0337, 2.1%) and EOS (EOS-$7.04, 0.2%).


Government level initiatives

Governmental and financial institutions collaborate to target digital tech

Brazil’s financial authorities have joined hands with the government to create the prototype of a regulatory sandbox that centers on innovate technologies such as blockchain. The latest regulatory initiative draws together the Superintendence of Private Insurance (SUSEP), the Securities and Exchange Commission (CVM), the Central Bank of Brazil, and the Ministry of Economy’s Special Secretariat for Finance with the purpose of adapting to the digital transformation impacting the financial, insurance and capital sectors in Brazil.

The endeavor, as described by the CVM, points to the fact that path-breaking technologies like robotics, blockchain, and artificial intelligence have facilitated the creation of unique business models that result in launching new products and services of better quality and leeway.

The regulators have voiced their plan to implement appropriate regulations in various sectors with a focus on upholding compliance in line with the regulations pertaining to each sector, irrespective of how products or any other services are offered.


Private sector initiatives

Alukönigstahl developing a database on the blockchain

Alukönigstahl, the well-known Austrian steel trading enterprise, is building a database for steel trading using blockchain technology. Stefan Grüll, CEO of Alukönigstahl, is creating the blockchain powered business model of the database for steel trading. The database, named “STEEL but SMART,” concentrates on conventional use scenarios. As part of the venture, Grüll has also set up a new firm called S1Seven GmbH that takes up all works related to blockchain.

The blockchain based database is anticipated to provide participants with precise data on the origin of steel products, industry standards, and also information regarding the properties of products. Alukönigstahl hopes to establish a single source of exhaustive documentation of the manufacturing history.

Grüll stated, “Individual testimonials that are subject to statutory retention requirements and contain information on test and test results are linkable.”

Grüll, however, clarified that the platform would be launched only after the formation of an association comprising of stakeholders, plant builders, steel and testing equipment manufacturers. Grüll believes that it will result in the use of a single “data structure based on certain standards.” The blockchain based database is anticipated to be launched at the end of 2019, with chosen participants.


Icertis Blockchain broadens its infrastructure

Icertis, a company offering cloud-based enterprise contract management solutions, unveiled a partnership with Microsoft to widen the Icertis Blockchain infrastructure to establish a more viable, socially responsible, and free environment.

By improving the association between blockchain/distributed ledger technology and management of contracts, Icertis and Microsoft aim to achieve higher clarity, execution speed, and robust enforcement in increasingly critical sectors of new age business.

With broadened capabilities built using Microsoft, clients will be able to implement blockchain technology to assist in resolving additional business procedures that demand openness such as assessing supplier diversity, monitoring goods authenticity, and implementing results-based pricing.

Commenting on the partnership, Monish Darda, CTO and Co-founder at Icertis, said, “More than ever, enterprises must maintain sophisticated governance and contract compliance, and blockchain technology has a critical role to play. We are thrilled to work with Microsoft to extend the Icertis Blockchain Framework to solve the most critical contracting challenges – enabling a new level of visibility and control in the contract management space, while helping build a more ethical and sustainable enterprise ecosystem.”


Mercado Libre joins up with Facebook

Mercado Libre, an e-commerce firm based out of South America, is partnering with Facebook on Libra, the cryptocurrency venture of the social media giant. The online retailer has operations in 19 countries. The e-commerce platform of Mercado Libre will have Facebook’s cryptocurrency integrated into it so that shoppers will be able to purchase goods using Libra coin as the medium of payment. The unnamed source of this news did not divulge any further details. However, the executive assumes that Mercado will also act as a node in Libra blockchain network.

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 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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