Blockchain technology is everywhere in the business, banking and technology news. It’s not surprising given the advantages of the core technology originally used to create bitcoin and other cryptocurrencies.
What’s surprising is the rapid pace of testing and adoption as the blockchain business cases grow in number, and in a wide range of applications.
We’ve got a roundup of blockchain business cases and trends to help you keep an eye on the latest developments.
RAND Corp’s EU group says the opportunities for blockchain applications are “vast.” Debbie Gucci, a health IT leader highlighted the many applications for blockchain technology in the health sector during a recent presentation. New simplified full stack software tools could enable faster adoption of blockchain technology by developers and business.
Startup Karma hopes blockchain technology will enable it to build a global Peer-to-peer lending and financial platform for small to mid-sized enterprises. The City of Tokyo launched a new blockchain startup accelerator in hopes that innovation will spur new opportunities for business.
Fan Bao, CEO of China Renaissance, search blockchain will be the most disruptive feature and biggest impact on the financial services industry in China and around the globe. The venture capital group of Jaguar Land Rover hopes to use $6 million raised in an ICO to innovate in the automotive sector by connecting data to cars.
RAND Report: Timing Essential for Blockchain Standards
The European wing of the RAND Corporation, a US think tank, has argued for a slow-and-steady process for developing possible standards around blockchain. In a new report published on October 18 and prepared for the British Standards Institution (BSI) – the world’s first group of its kind and the official standards body for the United Kingdom – the think tank identified several areas that could be the target for standards developers. In RAND’s view, the potential opportunities that blockchain offers are “vast” despite the “many challenges to contend with.” Via coindesk.com
HHS Architect Talks Blockchain’s Potential Role in Healthcare Administration
One of the figures behind the blockchain R&D effort within the US Health and Human Services (HHS) Department recently spoke out on the tech’s potential in Medicare and other public-sector functions. Speaking with Federal News Radio last week, Debbie Bucci, a lead IT architect for the HHS Office of the National Coordinator for Health IT (ONC), discussed the department’s past call for academic papers, which saw more than 70 submissions from a range of sources. She remarked that many of the submissions focused in some way on healthcare administration Via coindesk.com
Full Stack Development Tools Lowering Blockchain Entry Barriers
Companies looking to use Blockchain technology are enjoying lower barriers to entry, thanks to the creation of effective software tools. Despite industry interest in Blockchain, adoption is still relatively low. At present, for example, there are very few Blockchain developers and they are in high demand. Better software tools are enabling more industries to adopt Blockchain technology, but progress is slow. New approaches are needed. Via cointelegraph.com
SMEs Dismissed by the Banks, Beginning of the Era of P2P Finance
According to the International Labour Organization (ILO), global youth unemployment is expected to reach 13.1 percent in 2017; it has already risen from 12.9 percent in 2015. Lack of balance The problem is who will fund these SMEs in the developing world? Karma is planning to use the power of peer-to-peer (P2P) technology to provide credit globally. They want to create an ‘economy of trust’. They plan to provide an opportunity for people in developing countries to secure access to credit, and at the same time free up capital stuck in developed countries at low interest rates. Via cointelegraph.com
City of Tokyo Announces Blockchain Startup Accelerator
Officials suggested that it would work to advance the work being done by the chosen startups, including a plan to help them advertise their products and services in public spaces. Officials suggested that it would work to advance the work being done by the chosen startups, including a plan to help them advertise their products and services in public spaces. Via coindesk.com
China Renaissance CEO: Blockchain More Important Than Bitcoin
The head of a Chinese investment bank says he believes bitcoin’s underlying technology is more important than the cryptocurrency itself. His comments came after bitcoin reached another all-time high over $6,100 last week, followed by a few days’ fallback to around $5,500 as of press time. Elsewhere in the interview, Bao also stressed in general that the Chinese government has taken a liberal approach towards innovations with its open market policy. Via coindesk.com
Jaguar-Backed Blockchain Startup Completes $6 Million ICO
A blockchain startup funded by the venture arm of Jaguar Land Rover has raised roughly $6 million in an initial coin offering (ICO). DOVU is aiming to build a platform through which users will voluntarily submit data (from traffic reports to weather conditions) and be rewarded through the distribution of the “DOV” tokens. The idea is that the token will act as an incentive for getting more information on the platform, which can then be sent to connected devices and other entities that are using the network for up-to-date transport data. Via coindesk.com
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