Six Banks Signs With IBM To Use XLM And Issue Stablecoins

It has been reported that IBM was able to on-board 6 international banks who has intended to issue Stablecoins that are backed by fiat currencies on IBM’s payment network World Wire.

World Wire uses the Stellar public Blockchain and promises to let regulated institutions move value across borders more quickly and cheaply the legacy systems.

Only three of the six banks were already revealed - RCBC bank of the Philippines, Banco Bradesco of Brazil and Bank of Busan of South Korea.

The other banks will be identified in the future however it was revealed that these unnamed banks will issue Stablecoins that are pegged to Euro and the Indonesian Rupiah.

The World Wire platform has payment locations in 72 countries in 48 currencies and 46 banking endpoints (banks and many transmitters).

Legislators In Colorado Introduce Blockchain Agriculture Bill

According to news reports the state of Colorado introduced a bipartisan bill calling for the study the use cases blockchain technology to the agricultural industry.

The bill was introduced by representatives Donald Valdez and Mark Catlin with the sponsorship of Senators Kerry Donovan and Don Coram.

It has been reported that the bill calls for the state’s commissioner of agriculture to develop an advisory group to study how to leverage the emerging technology in agriculture related operations.

Law makers in Colorado would like to see blockchain to be used in food traceability wherein certain food could be traced and monitored from the farm from which it was grown down to the shelf where it is sold to the community.

The advisory group would be comprised of representatives from the many stakeholders in the agricultural sector in the State as well as from members of the Colorado Council for the Advancement of Blockchain Technology.

Fortune 500 Company Avnet Works Partners With BitBay

One of the largest distributors of electronic components and technology solutions providers, Avnet inc. has partnered with crypto payment processor BitPay to accept cryptocurrencies as an alternative way of payment for products and services.

Avenet has been listed on Fortune 500 for 24 years and has an annual revenue in 2018 of more than $19 billion in 2018.

The company revealed that it has closed several multimillion dollar cryptocurrency transactions within the first month of accepting cryptocurrencies.

By accepting cryptocurrencies Avnet opens a whole new way of payment options for customers all over the world.

It has been a growing trend for traditional businesses to accept cryptocurrencies as an alternative means of accepting payments for products and services.

Cryptocurrencies are widely seen as one of the main contenders to disrupt traditional payments systems that have been a major pain for merchants due to exorbitant fees.

Binance Launchpad Conducts Another Successful ICO

Binance has recently concluded its third hosted Initial Coin Offering on its Binance Launchpad with $4 million worth of token sold in just a matter of minutes.

The token sale was for the Celer Network (CELR) which was able to sell 597, 014, 925 CELR token in just 17 minutes and 35 seconds.

CELR token sale only accepted Binance’s own cryptocurrency Binance Coin (BNB) with each token selling for 0.000434 BNB or $0.0067 dollar.

This is the 3rd token sale of Binance’s launchpad after its sale of Bittorrent token (BTT) and Fetch.AI (FET) with both selling out in just a few minute as well.

Binance is the second largest crypto exchange by daily trading volume second to Hong Kong-based OKEx.

Blockchain Group Educates UK Parliament of Real-World Blockchain Use Cases

The All-Party Parliamentary Group on Blockchain (APPG) has organized a presentation with the purpose of showing parliamentary members, government officials and industry leaders the real-life blockchain applications.

Featured presentations came from industry leaders such as Oracle which presented blockchain application in the supply chain of olive oil; Everledger presented blockchain-enhanced supply chain system for Diamonds; IOTA for international trade and Llyod’s for insurance claims and transaction settlements.

Blockchain research and project manager at Big Innovation Centre, Fernando Santiago, believes that it was an important step for U.K’s blockchain industry saying that the initiative could define the future direction of the leadership in governance, commerce and competition in blockchain industry.

APPG was created by cross-party members of the parliament with the key purpose of ensuring the U.K. will remain competitive in the field of blockchain.

It is tasked to discover and define opportunities blockchain can provide for the nation’s economy, society, governance and other public services.

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