Dear community! Blockchain world is a very rapidly developing industry. Updates and innovations are not rare, so today we are presenting you some interesting facts in the latest #MetaNews.
Blockchain for Government Services
The story:
Riyadh Municipality Partners with IBM to Develop Blockchain for Government Services.
Details:
IBM will subsequently develop the first blockchain solution at the municipal level, while Elm will implement the technology into services provided by the government.
Why it is important:
The blockchain is making big steps in the Middle East! Gulf countries have always been fond of new technologies. Besides, according to Tarek Zarg El Aioun, Country General Manager at IBM Saudi Arabia, IBM “believes” that blockchain technology “has the ability to change the world in the same way as the Internet while redefining how business and transactions happen.
Blockchain Use in Securities Transactions
The story:
World’s Fourth-Largest Stock Exchange Eyes Blockchain Use in Securities Transactions.
Details:
The Shanghai Stock Exchange (SSE), which as of December 2017 had a market cap in excess of $5 tln, said in a report that “most people” consider that blockchain technology can “help improve the transparency of the securities industry.”
“Part of the market is now starting to adopt this technology in part, and larger-scale industry applications will do so after a few years,” the institution wrote in introductory remarks.
Why it is important:
While China’s ban on cryptocurrency innovations such as Initial Coin Offerings (ICOs) and free trading continue, authorities have made increasingly concerted efforts to develop blockchain this year.
Blockchain and automobile industry
The story:
Porsche, GM, Renault, Ford, BMW, Daimler and Toyota are Exploring Distributed Ledger Technology.
Details:
Let’s look at the examples of Porsche and Toyota.
The German auto giant Porsche is working with blockchain and artificial intelligence startup Xain to authorize temporary access to a car and explore new business models based on logging encrypted data.
Last year the Toyota Research Institute announced it is working with the MIT Media Lab to explore how blockchain could securely share autonomous car data and information for insurance rates.
Why it is important:
Blockchain enthusiasts argue that the tech will be implemented in all spheres of life. Making big steps in a car industry is yet another positive example of how blockchain can change the world.
