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IBM’s Global Blockchain Week

As a part of our common weekly roundup, lined the week’s vital worldwide cryptocurrency and blockchain headlines. On this version, we take a look at international blockchain-related efforts from IBM relating to each agriculture in Africa and telecoms in India, and extra worldwide tales.

A joint effort between U.S. firms might enhance African agriculture practices

This week, IBM Analysis introduced its collaboration with a U.S. agriculture tech firm often known as Hiya Tractor for the aim of bettering agriculture practices in Africa.

“In sub-Saharan Africa, greater than 60 p.c of crops are managed manually, with lower than 20 p.c managed by tractors and different equipment,” famous IBM, referring to this as “an unsustainable mannequin” as meals demand will increase.

The discharge says that scientists from IBM’s lab in Kenya are collaborating with Hiya Tractor with a purpose to make the most of modern applied sciences just like the Web of Issues (IoT), IBM Cloud, and blockchain expertise to enhance the continent’s strategy to agriculture.

Collectively, the corporations goal to implement an ‘agriculture digital pockets.’ It will take the type of a help platform that makes use of blockchain expertise and AI to seize, observe, and share knowledge between applicable events. It goals to create end-to-end belief and transparency for all members throughout the agriculture enterprise chain and enhance effectivity altogether.

IBM is providing blockchain options to India’s telecommunications firms

A double dose of IBM this week, the Financial Occasions of India reported the tech big hopes to work with Indian telecommunication corporations with a purpose to create blockchain-based options that might enhance numerous elements of the business.

Particularly, IBM hopes to implement a blockchain-based service to be used in cell quantity portability (MNP) and ‘Do Not Name’ (DNC) registries.

“We’ve got accomplished proof of ideas and pilots with all the main telecom suppliers and with [the Telecom Regulatory Authority of India] on this area,” mentioned IBM Analysis vp, Sriram Raghavan. “We anticipate that, going into the New Yr, we’ll begin to see blockchain options getting rolled out.”

New Zealand regulators provide ‘excessive warning’ over suspected scams

The federal government company chargeable for monetary regulation in New Zealand, the Monetary Markets Authority (FMA), supplied a warning this week towards suspected cryptocurrency-related scams.

One of many named corporations is Bitcoin Revolution Restricted, which the FMA says “could possibly be concerned in a rip-off.” Reportedly, the agency made claims that the nation’s earlier Prime Minister, John Key, invested in Bitcoin. This declare, nevertheless, was beforehand mentioned to be a part of a pretend article revealed by an imitation information web site.

Moreover, the FMA mentioned it recommends “excessive warning” to any traders contemplating interacting with OneLife or OneCoin as a result of considerations that they “bear the traits of a rip-off, together with withholding consumer funds and promising unrealistic returns.”

The regulator additionally famous that OneLife and OneCoin have been equally warned about by regulators in Austria, Belgium, Bulgaria, Finland, Germany, Portugal, Uganda, and a number of other different nations.

Saudi Arabia and UAE experiment with joint cryptocurrency

Based on a report from the Dubai-headquartered outlet, Gulf Information, Saudi Arabia and the United Arab Emirates are collaborating to create a cryptocurrency backed by each nations.

Reportedly, the UAE’s central banking authority is endeavor a joint mission with the Saudi Arabian Financial Authority (Sama). This mission will use blockchain expertise to experiment with a digital foreign money usable in cross-border transactions between the 2 nations.

“That is in all probability the primary time ever that witnesses the cooperation of financial authorities from completely different nations on this subject and we hope that this achievement will foster related collaboration in our area,” mentioned Central Financial institution of the UAE governor, Mubarak Rashed Al Mansouri.

At the moment, the collaborative effort is merely a ‘examine’ and has no clear frameworks by way of date of completion or degree of involvement from both nation. Additional, the cryptocurrency that they intend to create will probably be geared in direction of banks, not shoppers.

Certainly one of Venezuela’s largest hen restaurant chains adopts crypto

Based on bulletins this week out of Venezuela, one of many largest hen restaurant chains within the nation is permitting prospects to pay for his or her meals with cryptocurrencies.

As unveiled on Fb (word: hyperlink is in Spanish) prospects at Church’s Rooster areas in Venezuela are in a position to pay for menu gadgets with the cryptocurrency Sprint (DASH). The transfer is the results of a joint effort between the chain and Sprint Core and Sprint Venezuela.

The adoption of cryptocurrencies in Venezuela continues to be an ongoing subject. The extreme inflation charge that the nation’s nationwide foreign money lately skilled makes it tough for a lot of residents to make use of of their on a regular basis lives. Consequently, many are turning to digital currencies to hold out day-to-day funds.


Picture Credit score: IBM


Source: Coin Square


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