Blockchain Brief for Today
BitGuild and Tron partner to bring blockchain technology to in-game item ownership
The concept of buying in-game items has been around for long enough for it to be ubiquitous to gamers. But any time you open up the opportunity to purchase objects with real money, you also open up the door to scammers, fraud, and item duplicators. But blockchain technology offers a great way to prove item ownership and provide a robust environment where transactions are transparent, recorded, and verified.
BitGuild — a blockchain gaming platform led by gaming and virtual currency industry veteran Jared Psigoda — announced in the last week a new partnership with Tron, a blockchain-based protocol that aims to construct a worldwide free content entertainment system.
The partnership will see BitGuild provide a unique set of limited-edition in-game assets for the Tron community, which will represent the Tron brand and the associated TRX token. These assets will be purchasable using TRX, although the company is stating that it may make them available later on the BitGuild virtual item exchange.
“Blockchain and smart contract technology allows for gamers to own their items,” Jared Psigoda, CEO at BitGuild, told me. “Instead of an item being flagged on a game developer’s server as ‘belonging to’ a certain player, that item will be sent to that player’s digital wallet over the blockchain. The gamer will own it and be free to do with it whatever she or he pleases, whether that be to sell, trade, or import it into another game. In addition, smart contracts are open source and allow for player verification of things like item drop rates.” Full article here.
Blockchain Dating Platform Viola.AI Weds MegaX Retail Network, Gets Set for ICO
The Singapore-based decentralized dating platform, Viola.AI has teamed up with retail network MegaX to build an artificial intelligence-driven shopping service aimed at millennials, according to a statement released on Friday. The strategic partnership will integrate Viola.AI’s artificial intelligence (AI) template into the MegaX retail platform, providing users with machine-learning-based recommendations, from over 40,000 brands across 27 countries.
Viola.AI further announced that it will commence a public sale of its /VIOLA tokens on 14 March, having concluded a presale which allocated all 7.5 million tokens five days early.
Holders of /VIOLA tokens will now be able to make transactions in the MegaX retail network and both sides are exploring mutual airdrops for their respective community and customer bases, the press release said.
“Since the beginning, we aimed for Viola.AI to be open source together with ready APIs that easily adapted and deployed across industries and platforms,” said Violet Lim, CEO and co-founder of Viola.AI, in a statement. “Through this partnership with MegaX, we can maximize and develop on our goal of helping different industries in the world with greater personalization, where our AI can prompt relevant goods and services based on their needs, timing and wherever they are. It also extends the Viola.AI template into new revenue streams and market opportunity.” Full article here.
OpenPort and XVC Logistics Partner to Solve Real Time Shipment Tracking in Asia
Digital logistics platform, OpenPort and XVC Logistics announced on Thursday their joint venture to develop and launch an electronic Proof of Delivery Program (ePOD) for Asian markets.
According to their press release, with their ePOD program, named OpenPort Solutions, the two companies are collaborating on a new wave of innovation and transparency for the logistics space. OpenPort Solutions aims to provide real-time status updates from payment through delivery, facilitating lower costs and increased control and transparency over the shipping system. The companies state they have already conducted shipping payments in Bitcoin and service payments in Ethereum.
OpenPort Founder and CEO Max Ward said, in a statement, “The launch of OpenPort Solutions is a significant milestone for both our business and our cutting edge technology. Our blockchain-enabled electronic Proof of Delivery program has the potential to fundamentally change the logistics landscape, providing better than market liquidity for transporters and irrefutable transparency for shippers. Working alongside XVC Logistics to roll-out this unique program highlights the strong confidence in our offering, and we look forward to building on this momentum with a partner that shares our vision of delivering new levels of transparency and security to the logistics space.” Full article here.
What The Blockchain Revolution Means For CMOs
It’s been hailed as a global revolution, and shunned as a piece of technology used by drug dealers and cartels. But in reality, blockchain (the underlying technology that enables crypto currencies like Bitcoin) is a fascinating piece of technology that has the power to change our world.
Think of blockchain as a ledger that lives on every device on which it is installed. Whenever the ledger is changed, the information is updated on each device. This networked method of tracking information has supported the rise of decentralized currencies like Bitcoin and Ethereum.
But blockchain has a wide variety of uses that have already started to shape consumer expectations, go-to-market strategy, and data collection. Moving forward, the blockchain revolution will mean brands need to start positioning themselves differently in a world where decentralization and transparency are king. Full article here.
Leafbuyer Looks to Gain Advantage With Blockchain Verification
Launched in 2013, Leafbuyer Technologies, an online cannabis deals database that helps consumers locate and learn about dispensaries or product companies in their area, announced on Wednesday that it had moved into stage two of its blockchain implementaion plan, which uses analytics and data to reliably verify transactions and record the movement of plants in the fast-growing legal marijuana supply chain.
Leafbuyer said, through working with data specialist Wunderkind Technologies, its systems management team will now begin working to accurately verify referrals, customer traffic, point-of-purchase and pricing for clients in real time.
“We are moving forward with our strategic implementation of blockchain, which, in the long term, should provide us with top-tier security and highly transparent data we can present to our clients,” said Leafbuyer Technologies CEO Kurt Rossner, in a statement. “The power of the technology is analytics and real time data that is instantaneously secured, time stamped and verified. It is this level of data that the ancillary business of the future must possess to prove to client dispensaries the origin, conversion and retention of customers.”
Leafbuyer believes that blockchain features that keep transaction records safe, tamper-proof and substantially decrease the risk of fraud may provide the critical competitive distinction that the company needs within a multi-billion cannabis industry that still faces strict regulatory scrutiny. Full article here.
Diiorio’s Decentral Inc. Teams up with Legal Firm to Architect Blockchain in Canada
Leading Canadian blockchain company and the creator of Jaxx, Decentral Inc. announced on Thursday a new strategic alliance with blockchain law specialist, Gowling WLG with the aim of optimizing commercial and legal applications of the technology.
Decentral Inc. was founded by Anthony Diiorio, its CEO, who is also Ethereum’s Co-Founder. The company’s best known product is Jaxx, a multi-token interface and wallet. Gowling WLG is a multinational law firm with deep experience in the blockchain space, and a dedicated Blockchain & Smart Contract practice group. The firm is also a co-founding member of the Blockchain Research Institute.
“Decentral’s relationship with Gowling WLG spans a number of years, and we are delighted to form an alliance that enables us to work even closer together on a number of transformative blockchain industry initiatives,” said Diiorio, in a statement. “Canada is one of the leaders on the world stage for blockchain and cryptocurrency and I am confident Decentral’s strategic alliance with Gowling WLG will further cement the country’s place as an innovation hub.”
As part of the agreement, Decentral will help Gowling WLG develop its internal blockchain infrastructure and client-facing tools. In return, Gowling WLG will provide comprehensive legal guidance on Decentral’s current practices and ongoing projects. Full article here.
Blockchain is more than bitcoin – it has unlimited potential to transform society
The popularity of crypto assets, such as bitcoin, in recent months has drawn attention to the technology that sits behind them - blockchain.
Blockchain is a distributed ledger that records transactions between two parties in a verifiable and permanent way. Blockchain’s main advantage is that it’s decentralised, and therefore avoids the inflexibility and inefficiency of older, centralised systems.
However, the blockchain network is also universally accessible – no single person controls it and everyone is able to access it securely. Blockchain is also adaptable and it can be used in many situations in which two parties require integrity in a transaction.
The recent popularity of crypto assets has made blockchain and bitcoin synonymous. Therefore, many wrongly associate the concerns about them, such as fraud and criminal activity, with blockchain.
Whereas in reality, blockchain can actually reduce this type of fraud because blockchain-based transactions are completely public – so the potential to automate controls to minimise criminal activity is enormous.
Many people do not realise that blockchain has unlimited potential to completely transform society. Full article here.
Why Some Companies Are Embracing Blockchain
Bitcoin debuted nearly a decade ago yet it seems that we still haven’t reached a consensus as to whether it will survive and prosper. Cryptocurrencies like Bitcoin have exploded in popularity, surged greatly in terms of valuation, and withstood cynicism from established institutions and prominent investors.
Still, decentralized currency seems like an unsavory prospect to many, and supporters of distributed digital cash remain divided as how to best implement the best possible version of cryptocurrency.
What powers cryptocurrency, the clever code that embeds triple-entry accounting into its transaction system, is arguably, a far more impactful technology. Whatever the fate of Bitcoin, or any one of its descendants, Blockchain will be here to stay.
What is so special about Blockchain? Essentially, we can think of Blockchain technology as a new, more advanced form of accounting, tracking, or filing. These terms may be a tad limiting, but are sufficient for the purpose of simplifying an abstract, far-reaching technology. It’s an easier, more secure, more transparent way to transfer, track, and log things.
With Blockchain, we have a global ledger with the capabilities to improve supply chains, health care processes, and the organization and consolidation of data. The uses for Blockchain are endless. Due to its open-ended nature, the innovations that could be stacked upon it are truly staggering as well.
Blockchain, as the above authors of the article The Truth About Blockchain, Marco Iansiti and Karim R. Lakhani, for the Harvard Business Review describe it, is a foundational technology.
“Blockchain is a foundational technology: It has the potential to create new foundations for our economic and social systems,” the authors write. “But while the impact will be enormous, it will take decades for blockchain to seep into our economic and social infrastructure. The process of adoption will be gradual and steady, not sudden, as waves of technological and institutional change gain momentum.” Full article here.
In 2018, Blockchain Will Usher In A New Era Of Proptech
In the latest phase of proptech, we saw the disruption of specific segments of the homebuyer process. Services that expedited areas of the home buying process using data analytics, fintech and technologies that targeted energy efficiency dominated the ideas and products of proptech startups in the last few years. While steps have been taken to make processes faster and more convenient, in the current commercial real estate market there have not been many advances that prioritize security and keep our privacy intact.
Currently, a large percentage of digitized property information such as prices, valuations, property details and lease rental rates are siloed and hosted on remote systems. This lack of transparency and barrier to usage results in huge inefficiencies that lead to increased amounts of inaccuracies and the potential for fraud, rendering this data unusable in other proprietary systems.
Room For Growth
While proptech has made it easier to find better loan terms, rent out your apartment on short notice, or even get an advance on a large percentage of your home’s appraisal in order to purchase your next home faster, we still have not relieved the innumerable paper-based processes and steps within operations that happen behind closed doors. Blockchain technology could be the solution to these problems by reducing intermediary figures and efficiently cutting down costs. Ultimately, blockchain could be a leading technology that ushers in a new age of proptech altogether. Full article here.
Blockchain: Are You Ready For Cross-Industry Disruption?
Blockchain technology seeks to radically change the way we manage transactions. As explained in another article, the recent hype of blockchain is now turning into real-world disruptive technology. Many industries are still in the proof of concept stage, but there has been a definite increase in the adoption of the blockchain technology.
As a result of this new development, this is the best time to become a certified ledger lawyer and policy advisor with recognized blockchain expertise in your practice area. As discussed in my previous article, blockchain technologies present a unique chance for lawyers to offer themselves as trusted strategic advisors to clients. A lawyer will make himself an invaluable part of a client’s core team if she knows more about blockchain and how her client can benefit from the technology. Lawyers need to have sufficient knowledge about blockchain so that they can guide and serve their clients on issues evolving from this technology.
Most lawmakers, regulators, and policymakers are in the early mode of understanding the changes blockchain may produce, so any knowledge gained now will be a significant advantage. So, what can lawyers do to learn more about blockchain? Full article here.
3 ways blockchain technology could revolutionize the law
Coders, designers, lawyers, policymakers, researchers and students from all over the world will participate in the 2018 Computational Law & Blockchain Festival March 16–18, 2018,
Organized by Legal Hackers with help from partners in blockchain technology, policy and academia, the Computational Law & Blockchain Festival hopes to produce innovative ideas and thoughtful discussions on how blockchain technology can improve legal services.
From Australia to Zimbabwe, volunteers are organizing “nodes” to bring participants together to learn about blockchain technology, participate in blockchain-for-law hackathon challenges and discuss legal policy related to blockchain technology.
The global festival distinguishes itself by not only challenging participates to create solutions to legal problems using blockchain technology, but also by encouraging newcomers to learn about the basics of blockchain technology from local experts and inviting policy wonks to voice their concerns over how to regulate blockchain technology or how it could be used to circumvent existing laws.
How exactly could blockchain technology revolutionize the way we implement and interact with the law? Full article here.
Blockchain without cryptocurrencies?
The biggest barrier to blockchain’s adoption by enterprise on an industry-wide scale is a set of misconceptions about what exactly blockchain is and its relationship to cryptocurrencies like Bitcoin and Ethereum.
Most people who are aware of blockchain learned about it because of the media’s fascination with Bitcoin, the volatile digital currency that has taken its “hodlers” on a wild ride in 2017-8. When you ask someone in the transportation industry—say, a trucking carrier—if they’re interested in blockchain for industry applications, they often assume it means receiving payment in a cryptocurrency like Bitcoin.
And why would you want to receive payment in Bitcoin? The value of a Bitcoin fluctuates daily, and the currency has doubled its value in a month, then halved it the next month. Currencies work well when their value is stable—you want to know that the $1,000 you’ve contracted to be paid in a month is going to be worth about the same as it is now. At this point, Bitcoin is an asset more like gold than the USD, ‘invested’ in by speculators hoping to strike it rich when a flood of demand hits a commodity with a finite supply.
But does blockchain make sense without cryptocurrencies? It’s a question worth asking, and FreightWaves reported last week from the Digital Chamber of Commerce’s Blockchain Summit in Washington, D.C., where the issue was discussed. It’s a question worth asking because, after all, the ideas of blockchain and Bitcoin were invented simultaneously. Satoshi Nakamoto (a pseudonym of an anonymous person) wrote his now-famous 2008 white paper to propose a solution to the double-spend problem in digital currencies. The double-spend problem is essentially this: say I’m using a digital currency to buy something online. What is there to stop me from spoofing transactions, and spending the same digital dollar twice? And if I give two different parties a digital dollar with the same ‘serial number’, who is holding the authentic money and who’s holding the counterfeit? Full article here.