The time has come! #MetaHashNews is back! Check out the three most interesting news of the week:
Dubai Launches Blockchain Business Registry To Ease Market Entry
The story:
Dubai has partnered with IBM to launch a Blockchain registry that will help businesses operate under its jurisdiction.
Details:
The Registry will store information of companies, as well as keep track of changes, and thus “will streamline the process of setting up and operating a business, roll out digital exchange of trade licenses and related documentation for all business activities, and ensure regulatory compliance across Dubai’s business ecosystem,” the press release explains.
Why it is important:
Dubai is making improvements in the field of blockchain, it even has 2020 Blockchain Strategy. Crown Prince of this Emirate is seeking to establish Dubai as the first city to be fully powered with blockchain technology by 2020. Other major cities might follow the suit.
Netherlands to harness blockchain for waste management operations
The story:
Authorities are trying out blockchain to automate many of the processes related to waste transportation in the EU.
Details:
The authority that checks if waste is transported correctly in the Netherlands is working on a project to use blockchain and mobile apps to remove manual intervention from its processes.
Blockchain technology will enable all government bodies and companies to get real-time verification of each step in the process. The project is supported by two major waste recycling companies, Indaver and AVR.
Why it is important:
Blockchain, which has its roots in the financial service sector as the technology underpinning bitcoin, is now being tested out in many sectors.
Ethereum and Blockchain Tech in the Oil and Gas Industry
The story:
It may be surprising to hear that Oil and Gas industry is at last adopting blockchain.
Details:
Main advantage of blockchain in this industry is improving order-to-cash processing.
Applying blockchain technology to the Oil and Gas industry will improve the efficiency of scheduling and dispatching, more precise measurement of volumes of liquid, more accurate invoicing and record-keeping, and reduced revenue leakage. It will also make coding errors a thing of the past. It’s another smart way of fixing broken links in the supply chain, this time for Oil and Gas.
Why it is important:
Blockchain can be applied to traditional industries as well. And that’s finally starting to become a reality in oil and gas. The application of technology in the Oil and Gas industry is another positive example of the usage of the blockchain.
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