Walmart Joins Hyperledger Along with Seven More Firms

Walmart Joins Hyperledger Along with Seven More Firms
March 5, 2020

 

The cryptocurrency market remains range bound with Bitcoin (BTC) hovering around $9,000. In the past 24 hours, Bitcoin has gained 0.8% to trade at $8,889.43. Ether (ETH) has gained 0.1% to trade at $226.64. Likewise, XRP has gained 0.2% to trade at $0.2357. Other major (top 20 by market cap) altcoins which have gained in the past 24 hours includes IOTA (IOTA-$0.2314, 3.0%), Cardano (ADA-$0.0497, 1.5%), Monero (XMR-$67.44, 0.3%), Tron (TRX-$0.0179, 2.9%), Stellar (XLM-$0.0597, 2.0%), Huobi (HT-$4.73, 0.9%), Binance Coin (BNB-$20.53, 3.1%), Cosmos (ATOM, $3.89, 3.1%), OKB (OKB-$5.45, 0.8%), and Tezos (XTZ-3.22, 11.2%). The only major (top 20 by market cap) altcoin which has lost in the past 24 hours is LEO (LEO-$0.9539, -0.1%). Bitcoin Cash (BCH-$326.08, -0.9%), EOS (EOS-$3.64, -0.1%), Litecoin (LTC-$60.71, -0.8%), Dash (DASH-$88.49, -0.8%), Ethereum Classic (ETC-$8.05, -4.2%) and ChainLink (LINK-$4.66, -1.3%).

 

Government level initiatives

Beijing tax bureau incorporates blockchain for invoicing in the city

The Beijing tax bureau has started using a blockchain-based system for invoicing within the city. Beijing intends to offer blockchain’s unparalleled transparency, inalterability, and traceability to its future public administration using blockchain invoicing.

China’s announcement states: “To reduce taxpayers operating costs, save social resources, increase consumer convenience for saving invoices and build a healthy and fair tax environment […]The tax bureau of Beijing has decided to pilot the application of blockchain electronic general invoice”

As per the announcement, the Beijing blockchain invoice has definite features. The invoice code has 12 digits, while the invoice number has 8 digits. The Beijing tax bureau urges clients to validate the veracity of the invoices using the government endorsed Ruihong website.

“The information recorded in the electronic common invoices shall be consistent with the results obtained on the website […] Consumers have the right to reject electronic invoices with inconsistent results, and can call the tax service hotline 12366 of the Beijing tax bureau to report.”

The Beijing tax bureau will systematically promote the blockchain invoicing facility across the city. It will start offering bills for tourist spots, parks, and parking.

 

Private sector initiatives

Walmart joins Hyperledger – the blockchain association

Walmart has become a member of the blockchain association Hyperledger. Along with the retail giant, eight more entities have joined as members of the platform. The latest list of organizations that have enrolled as a member of Hyperledger was disclosed at the Hyperledger Global Forum 2020 in Phoenix, Arizona. Walmart’s enrollment as a member of Hyperledger has happened almost five years after the retail chain initially trialed the platform.

In October of 2016, Walmart collaborated with IBM and China’s Tsinghua University to carry out a trial program utilizing Hyperledger to trace the Chinese pork market. The program aimed to enhance food safety by detecting likely impurities at their origin in the supply chain.

Sanjay Radhakrishnan, the vice president of Walmart Global Tech, is excited about the benefits of blockchain technology: “We’ve seen strong results through our various deployments of blockchain, and believe staying involved in open source communities will further transform the future of our business.”

Hyperledger was unveiled in 2016 and hosted by Linux Foundation. The platform intends to “advance cross-industry blockchain technologies,” and has received the backing of IBM and Intel.

Aiou Technology, an associate of blockchain network IOST, business-to-business smart contracts startup Clear, and Swiss-based blockchain services firm Tangem are other firms that have joined Hyperledger.  The list of new Hyperledger Certified Service Providers is Beijing Proinsight Technology, LimeChain, Kompitech, Xoaa, Mindtree, and Zhigui.

Commenting on the arrival of new members, Brian Behlendor, the executive director of Hyperledger, stated: “Adding this great mix of new members and HCSPs is a great opening act for Hyperledger Global Forum.”

 

El Ordeño trialing a blockchain-based platform named IBM Food Trust

The Ecuadorian dairy producer El Ordeño is adopting a blockchain-based platform within the framework of a trial program named IBM Food Trust. As per IBM News Room, El Ordeño intends to utilize the blockchain to track its TRU brand dairy products, employing a distinct packaging design that contains QR codes.

Consumers will be able to study the movement (from farm to the kitchen) of any dairy produce of El Ordeño by scanning the label with a mobile gadget. Furthermore, it offers added info about the producer, cold storage, quality control, and distribution centers.

 

Miscellaneous

Elon Musk gives his support to Dogecoin

A month after releasing the controversial statement regarding Bitcoin (BTC), Tesla and SpaceX CEO Elon Musk is supposedly backing popular altcoin Dogecoin (DOGE) once again. The altcoin is a blockchain-powered PWP crypto that was created in 2013 out of the “doge” meme as a mark of respect to the Shiba-Inu breed dog.

Already perceived as an advocate of DOGE, Musk has once again endorsed the altcoin through a tweet on March 3rd. While the original tweet does not really mention much about the cryptocurrency, it does display a Shiba meme with the title “Dogs rock,” the following tweet “They have the best coin,” clearly indicates that Musk was referring to Dogecoin.

Notably, last April, Elon Musk revealed his support to Dogecoin through a tweet in which he wrote that DOGE “might be” his beloved crypto, further stating that it’s “pretty cool.”

Musk is also involved in a partnership with Dogecoin developer Jackson Palmer in battling against crypto con artists on Twitter. The popular tech entrepreneur was honored on Twitter as the “CEO” of Dogecoin, deserting other crypto creators such as Ethereum (ETH) co-founder Vitalik Buterin and Litecoin (LTC) developer Charlie Lee.

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.

Janine

Janine

Janine is our editor for related stock market news. Andrew and Janine will be focusing on providing the latest trends and where the next hit could be


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