Headlines for the world of Cryptocurrencies - July 07, 2018
Baidu Launches Blockchain Platform Totem Rewards
The internet giant of China is said to be releasing the Rewards component of their blockchain platform Totem.
Totem was release last April as a platform that can manage the intellectual property rights of images.
It utilizes blockchain technology to provide more efficiency in tracking the ownership of images and preventing rights infringements in their use.
Combined with Baidu’s leading artificial intelligence technology the digital works can be traced, reproduced and monitored.
Totem Rewards will serve as the incentivization mechanism on the platform and currently being used to monitor uploads of content.
This rewards mechanism can be modified to include an array of functionality such as image transactions.
Waltonchain Reveals Blockchain-Powered Clothing Authenticity Traceability System
Waltonchain (WTC) has just released a blockchain-powered decentralize application that will disrupt the apparel industry through the use of their newly released Dapp called WTC-Garment.
It is said to be the world’s first blockchain-based high-end clothing authenticity traceability system.
WTC-Garmet is the product of close collaboration of Waltonchain and Kaltendin, China’s leading high-end clothing brand.
Pundits has called it a revolutionary application of big data and IOT+ in the apparel industry.
South Korea Legitimizes Blockchain Industry
A report by a local news outlet in South Korea reveals that the government is drafting major new industry classification standards for the domestic blockchain industry.
Three Korean ministries were said to have sphere headed the initiative: National Statistical Office, Ministry of Science and Technology and the Ministry of Information and Communication.
They have been working hard to finish the final draft of a new blockchain industry classification until end of July.
This classification will be the basis for policy making that is aimed for blockchain promotion and regulatory framework which covers blockchain system construction, decentralized applications development and cryptocurrency exchanges and transactions.
Huobi Launched Australian Exchange
The fourth largest exchange in the world Huobi has opened its new Australian platform that started operating July 5, 2018.
There are 10 trading pairs initially available against the Australian dollar.
This includes Bitcoin, Ethereum, Litecoin, Ethereum Classic and Bitcoin Cash.
It was also revealed that more trading pairs will be offered in the future. Huobi’s international expansion is fueled by its desire to grow its global investor base.
The same strategy is being implemented by other industry giants such as Binance, who moved to Malta for greater interaction with European users and Coinbase planning to set up shop in Japan.
Philippines Asia’s Emerging Sandbox for Blockchain
Aiai Garcia, Global business development lead for ConsenSys in the Asia-Pacific states that the Philippines might as well be the next sandbox for blockchain space in Asia.
The executive believes that the Philippines have what it takes to be one, as blockchain technology in the country is quickly developing and regulators are very receptive to the nascent technology adopting a do no harm policy.
She also added that this is exacting time for Philippine Blockchain industry as all of the stake holders are excited in know more about the technology and more importantly looking at ways how to adopt and use it to improve existing systems.
She also notes that the country’s central bank has always kept an open mind about cryptocurrencies.
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thanks for upvote
Waltonchain is really good
Nice read. I leave an upvote for this article thumbsup
@cryptowarrior88 so much positive happening in the blockchain, glad to see this progress & hope it continues to emerge and accepted worldwide since many governments are not willing to implement it but they will have to .
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