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Russian mining and smelting giant Nornickel is planning to roll out a digital platform for trading in metals by the end of 2019. Russian mining and smelting giant Nornickel is planning to roll out a digital platform for metals trading by the end of 2019, local news outlet TASS reported on July 9. The vice-president of Nornickel, Andrey Bugrov told TASS that “the preparation process was quite lengthy, but nevertheless, we plan to bring this product [digitization of metal trading] to the market by the end of 2019 and begin trading our tokens." Bugrov also said that the token trading program could be worth nearly $1 billion, but that is rather a target figure. He pointed out the necessity to analyze market demand for the product as a number of factors are not specifically regulated, but depend on market conditions. In March, Russian billionaire and CEO of Nornikel Vladimir Potanin revealed plans to deploy cryptocurrency tokens for trading palladium through a Switzerland-based palladium f..
A political and financial shake-up can act as a catalyst for lawmakers to embrace bitcoin, says Nigel Green. The CEO of financial advisory giant deVere Group said positive cryptocurrency regulation should form a central part of the post-Brexit United Kingdom. Nigel Green made the comments in an interview with fintech news outlet Verdict on July 9. DeVere, which has around $10 billion of assets under advice, is concerned the U.K. will end up in recession in the event of a no-deal Brexit, which politicians have promised could happen as soon as October. “The growing cryptocurrency market has already provided tangible economic benefits to other major economies,” Green said. “Post-Brexit Britain will be uniquely placed to go even further and by embracing it, it could reboot the UK’s financial services sector.” As Cointelegraph reported, the U.K. has so far failed to provide a comprehensive regulatory roadmap for cryptocurrency, instead favoring a bearish approach which has even included ..
Ground X, the Kakao Corp subsidiary behind the Klaytn blockchain platform, says the companies already using ecosystem are worth a combined $64.8 billion. Ground X, the blockchain arm of South Korean tech giant Kakao, has launched the mainnet of its Klaytn platform, The Korea Herald reported on June 27. It is hoped that the platform, which focuses on decentralized apps (DApps,) will drive blockchain adoption in the country. Several major companies in the region are using the technology from launch, including LG. Han Jae-sun, Ground X’s chief executive, said the firms using Klaytn have a combined market value of $64.8 billion. Nine DApps are currently available on the platform, including a program that rewards diners for leaving restaurant reviews and another that incentivizes users to upload entertaining videos. By October, Kakao hopes to have 34 DApps available. The launch is significant because of Kakao’s dominance in South Korea, where it has a 96% market share. As well as providing..
HSBC has deployed tokenization tech in its receivables infrastructure for corporate clients in India. Major global banking group HSBC has implemented tokenization technology into its receivables infrastructure for corporate clients in India, according to an announcement on June 18. The British multinational financial services company has reportedly launched its Digital Accounts Receivable Tool (HSBC DART), based on tokenization technology developed by Australian blockchain-powered Fintech company Identitii Ltd., the firm said in the announcement. According to the statement, HSBC DART was developed for HSBC’s Global Liquidity and Cash Management (GLCM) business and deploys Identitii’s approach to tokenization within HSBC’s existing infrastructure of receivables to enhance involved processes. The instrument is designed to automate the accounts receivable (AR) process for HSBC’s corporate customers and their network of buyers, enabling a secure communication layer between network partici..
Ubisoft is allegedly exploring potential blockchain applications in gaming as a strategy to gain a more competitive edge in the industry. French video gaming giant Ubisoft is allegedly exploring potential blockchain applications in gaming as a strategy to gain a more competitive edge in the industry. The news was reported by daily French financial newspaper Les Échos on June 11. Per Les Échos, Ubisoft has been quietly exploring blockchain applications for several months, and has allegedly already identified one in particular for implementation. The paper write that Ubisoft reportedly plans to put intra-game virtual objects or accessories onto the blockchain and monetize them. As the report notes, the model bears some similarity to that of the overwhelmingly successful video game Fortnite — published by Epic Games — which is free in itself to purchase, but allows gamers to buy virtual content that equips their game character. The virtues of a blockchain-powered ecosystem for virtual..
Nebula Genomics has announced a collaboration with EMD Serono, the North American biopharmaceutical business of Merck KGaA. Blockchain firm Nebula Genomics has announced a collaboration with EMD Serono, the North American biopharmaceutical business of Merck KGaA — the world’s oldest operating pharmaceutical firm. The news was announced in a press release shared with Cointelegraph on June 11. As previously reported, Nebula is a blockchain-powered platform for genome-sequencing data, co-founded in 2017 by renowned geneticist Professor George Church and his Harvard colleagues Dennis Grishin and Kamal Obbad. The platform leverages blockchain technology in a bid to incentivize genomic data generation and sharing, and to lower the costs of genome-sequencing while preserving privacy and individuals’ control over their unique and sensitive data. In its collaboration with EDM Serono, Nebula will provide the firm with access to its network of anonymized genomic data in order to support the rese..
Major global pharmaceutical firm Boehringer plans to create a blockchain-powered care network for patients with diabetes. А leading pharmaceutical firm Boehringer Ingelheim has teamed up with blockchain-based healthcare platform Solve.Care, according to a press release shared with Cointelegraph on June 6. Germany-based Boehringer, one of the world’s 20 largest pharma companies, and Solve.Care are planning to build a blockchain and digital asset-powered network for trusted sharing of data about patients with diabetes. Based on Solve.Care’s blockchain platform, the new healthcare system is known as the Diabetes Care Administration Network. The network intends to provide assistance in coordinating care for patients, as well as to share information about the risks associated with diabetes, prevention and symptoms, among others. The network will purportedly implement Solve.Care’s care coordination tool dubbed Care.Wallets in order to support patients with the disease. The care network is e..
Igor Sechin, the head of Rosneft, believes that barrels of oil could one day be paid for using cryptocurrencies. The head of Russian oil company Rosneft has not ruled out the possibility of paying for oil using cryptocurrencies in the future, according to a report by Snob.ru on June 6. Igor Sechin said the industry’s acceptance and awareness of digital assets is beginning to rise as Silicon Valley tech giants including Google, Amazon and Apple begin to explore the oil and gas sector. While he suggested that the stablecoin Facebook is currently developing could one day be used to purchase oil by the barrel, Sechin warned there are some hurdles that cryptocurrencies need to overcome if they are to pique the interest of energy giants. He was quoted as saying: “Greater flexibility often means greater volatility, and digitalization creates risks for maintaining commercial secrets and leads to the need to create new regulatory mechanisms, additional reservations. Today, technology companies..
Russian state-owned firm Rostec offers a $1.3 billion plan to apply blockchain in all the state data systems. Russian state-owned holding conglomerate Rostec proposed a roadmap on applying blockchain in all the governmental data systems, local financial newspaper Kommersant reports on May 24. An institution under Rostec has reportedly developed a blockchain roadmap worth up to 85 billion rubles ($1.3 billion) that claims to provide an economic impact of up to 1.6 trillion rubles ($25.4 billion) in five years. The project was presented by Rostec’s structural body, the Novosibirsk Institute of Programming Systems (NIPS), during a blockchain conference held in the Republic of Tatarstan on May 23. According to Kommersant, the NIPS’ roadmap includes a blockchain implementation in the processes and data systems of industrial enterprises, municipal elections, the monitoring of the budgetary performance and other services. The report notes that the absence of cryptocurrency and blockchain reg..
Chinese e-commerce giant Alibaba will integrate blockchain technology into its intellectual property system of global enterprises and brands. Chinese e-commerce giant Alibaba will integrate blockchain technology into its intellectual property system of global enterprises and brands, local news outlet Sohu reported on May 23. Ali Xizhi, the company’s director of intellectual property protection, reportedly said that Alibaba is in the process of upgrading the filing of intellectual property rights by utilizing blockchain. Alibaba is planning to fully implement the technology in September, after which it will be expanded to digital copyright protection, including visual content. The system will purportedly allow electronic deposits from international brands to directly link to the Internet Court through the blockchain-based Ali Intellectual Property Protection Platform ("IPP Platform"), providing a basis for litigation rights protection. China has reportedly set up three Internet courts ..