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Blockchain-Based Alternative Investment Firm to Be Listed on Bloomberg Terminal

Blockchain-Based Alternative Investment Firm to Be Listed on Bloomberg Terminal

A blockchain-based alternative investment provider that tokenizes commercial debt is being listed on the Bloomberg Terminal, according to a news release published on June 4.

Cadence is believed to be the first digital asset to obtain a Financial Instrument Global Identifier (FIGI), enabling professionals who use the Bloomberg Terminal to research its offering and execute trades.

The company connects investors with businesses that need to borrow money in order to plug temporary gaps in their cash flow. On its website, Cadence says the minimum investment amount is $500, giving consumers “opportunities traditionally reserved for institutions.”

Currently in private beta, Cadence claims its platform allows investors to generate passive income and hedge against market volatility. Every deal matures within a year, and the company is aiming to deliver annualized returns of more than 10%.

In the news release, Bloomberg Head of Data Standards and Strategy Richard Robinson said:

“The assignment of a FIGI to digital assets is a natural and simple example of the standard’s native utility. It is proof that FIGI can easily extend to new, even esoteric financial instruments.”

Last June, the Bloomberg Terminal started listing Huobi’s Cryptocurrency Index, which tracks the performance of the top 10 traded assets on its exchange.

Source: Pivot – Blockchain Community

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10 Blockchain Companies To Watch In 2019

More and more companies are sprouting in the blockchain space.

Earlier this month, arguably the biggest blockchain week in the world kicked off in New York City with CoinDesk’s Consensus event. A previous interview that covered blockchain technology led to a deeper look at the technologies, founders, and companies that are emerging in the industry.

While some of the best projects on display were infrastructure-related, like public blockchains, others were more focused on ancillary services. The teams of these innovative blockchain startups are global, cutting-edge and typically include early blockchain adopters as founders.

This list showcases 10 companies working to make blockchain more accessible, prominent and mainstream. Some you may have heard of; others are new to the scene. The companies come from all regions of the world. Each offers something unique with the potential to disrupt traditional industries as well as gain support from legitimate entities.

  1. BiKi

BiKi.com was founded in June 2018. Headquartered in Singapore, it is a leading digital asset exchange focused on the global market. It accumulated 1.1 million registered users and 100,000 daily active users in under a year. Backed by Du Jun, co-founder of Huobi, BiKi is one of the fastest-growing exchanges. It focuses on the global incremental market, with a mission to bring digital assets to the mainstream.

  1. Advanced Blockchain AG

Berlin-based, publicly listed Advanced Blockchain AG (ABAG) was started by German crypto pioneer and co-founder of peaq.io, Robert Küfner. The company is an innovator of blockchain solutions for corporations, building a DLT solution for one of the largest automotive manufacturers in the world. ABAG was recently selected to participate in the Silicon Valley chapter of the German Accelerator, which empowers high-potential German companies to successfully enter US markets. Further approaches using peaq.io’s proprietary DAGchain remain confidential.

  1. YottaChain

Built by leading scientists and cryptographers, YottaChain is a public blockchain that uses a unique economic model and governance structure, as well as proprietary technology, to connect global computing and storage resources. In layperson’s terms, everyday people can now tap into the power of a supercomputer and large-scale storage previously reserved for enterprises. This is done by connecting decentralized storage resources while providing de-duplication after encryption. In 2018, YottaChain was a top 20 finalist at the Founder World Championship in Silicon Valley.

  1. HeroToken

Based in Barcelona, HeroToken is the continued mission from the success story of PawnHero. Founder David Margendorff, together with a solid team of technology experts, is working on HeroToken to build the prospect of a better future for billions of unbanked and underbanked funds globally. This solution leverages the blockchain to provide a transparent loan marketplace that connects lenders with borrowers worldwide.

  1. Bitconch

With a global development team of former Google, IBM, Huawei and GE engineers, Bitconch is using a proof of reputation (POR) consensus algorithm to enable its beta network to reach 100,000 transactions per second, which is reported to be the highest performance in the blockchain environment. Bitconch established an intelligent three-dimensional node reputation system, with POW (proof of work) + POS (proof of stake) + POA (proof of activity), which contributes to an open node pool and anti-centralization. The company recently partnered with Cryptic Labs to help scale up their efforts.

  1. BREACH

BREACH was founded with one goal in mind: to ensure your digital assets. Backed by PJC, the leading early-stage venture capital firm based in Boston, BREACH is partnering with global insurers, cybersecurity experts and exchanges to offer products to safeguard user investments. With nearly $1 billion of cryptocurrency stolen from exchanges in 2018, the use case for insurance products in the blockchain industry has never been stronger.

  1. KaratGold

Based in Germany, Karatbars International GmbH is the parent company of KaratGold Coin and a robust gold-based ecosystem of cross-border blockchain solutions. Their latest product, the IMPulse K1 Smartphone, is the first phone using Voice Over Blockchain Protocol (VOPB). Currently, KaratGold allows consumers to trade or purchase gold on more than 500,000 acceptance points worldwide. With all of the recent talk about Bitcoin versus gold, this company provides the best of both worlds.

  1. BISS

Backed by Matrix Partners, ZhenFund and Metropolis VC, BISS is a membership-based crypto exchange like Costco where members can enjoy exclusive offerings. The platform is also the world’s first crypto-to-security exchange where users can seamlessly exchange tokens for securities, minimizing the downside of crypto volatility. These kinds of innovative solutions have gained a lot of attention from mainstream financial investors and institutions. This early success has helped BISS gain 300,000 monthly users in just four months.

  1. LiteLink Technologies Inc.

LiteLink is a publicly traded company developing enterprise platforms and digital wallets that use blockchain to solve problems in the logistics and payment industries. LiteLink’s flagship 1SHIFT logistics platform offers real-time transparency and tracking, which allows brokers, shippers and carriers to track shipments and settle payments without breaking stride. uBUCK Pay is a multicurrency digital wallet with a U.S. dollar–backed stable token built on Waves blockchain that supports traditional fiat and digital currencies.

  1. MetaHash

MetaHash is a self-sustained network for DApps and digital assets with a vision of creating a new internet. MetaHash also offers a set of tools for developers and solutions for enterprises. Its protocol, based on advanced data synchronization, supports over 50,000 transactions per second with three seconds of consensus time, thus solving the industry’s key speed issue. With hundreds of community-operated servers, MetaHash is rapidly nearing its goal of becoming the fastest fully decentralized blockchain.

 Joresa Blount is the founder of GoFlyy, an author and creator of Brown Girls Innovate too which provides tools and connections for women in tech. 

 

Source: 10 Blockchain Companies To Watch In 2019

Why Use a Blockchain? By Maria Kuznetsov

As the implications of the invention of have become understood, a certain hype has sprung up around blockchain technology.

This is, perhaps, because it is so easy to imagine high-level use cases. But, the technology has also been closely examined: millions of dollars have been spent researching blockchain technology over the past few years, and numerous tests for whether or not blockchain technology is appropriate in various scenarios have been conducted.

Blockchain technology offers new tools for authentication and authorization in the digital world that preclude the need for many centralized administrators. As a result, it enables the creation of new digital relationships.

By formalizing and securing new digital relationships, the blockchain revolution is posed to create the backbone of a layer of the internet for transactions and interactions of value (often called the ‘Internet of Value’, as opposed to the ‘Internet of Information’ which uses the client-server, accounts and master copy databases we’ve been using for over the past 20 years.)

But, with all the talk of building the digital backbone of a new transactional layer to the internet, sometimes blockchains, private cryptographic keys and cryptocurrencies are simply not the right way to go.

Many groups have created flowcharts to help a person or entity decide between a blockchain or master copy, client-server database. The following factors are a distillation of much of what has been previously done:

Is the data dynamic with an auditable history?

Paper can be hard to counterfeit because of the complexity of physical seals or appearances. Like etching something in stone, paper documents have certain permanence.

But, if the data is in constant flux, if it is transactions occurring regularly and frequently, then paper as a medium may not be able to keep up the system of record. Manual data entry also has human limitations.

So, if the data and its history are important to the digital relationships they are helping to establish, then blockchains offer a flexible capacity by enabling many parties to write new entries into a system of record that is also held by many custodians.

Should or can the data be controlled by a central authority?

There remain many reasons why a third party should be in charge of some authentications and authorizations. There are times when third-party control is totally appropriate and desirable. If privacy of the data is the most important consideration, there are ways to secure data by not even connecting it to a network.

But if existing IT infrastructure featuring accounts and log-ins is not sufficient for the security of digital identity, then the problem might be solved by blockchain technology.

As Satoshi Nakamoto wrote in his (or her) seminal work, “Bitcoin: A Peer-to-Peer Electronic Cash System”: “Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable.”

Private key cryptography enables push transactions, which don’t require centralized systems and the elaborate accounts used to establish digital relationships. If this database requires millions of dollars to secure lightweight financial transactions, then there’s a chance blockchains are the solution.

Is the speed of the transaction the most important consideration?

Does this database require high-performance millisecond transactions? (There is more on this point in our guide: “What is the Difference Between a Blockchain and a Database?”).

If high performance, millisecond transactions are what is required, then it’s best to stick with a traditional-model centralized system. Blockchains as databases are slow and there is a cost to storing the data – the processing (or ‘mining’) of every block in a chain. Centralized data systems based on the client-server model are faster and less expensive… for now.

In short, while we still don’t know the full limits and possibilities of blockchains, we can at least say the use cases which have passed inspection have all been about managing and securing digital relationships as part of a system of record.

Authored by Nolan Bauerle; images by Maria Kuznetsov

Source: Why Use a Blockchain? – CoinDesk

SendFriend gets $1.7M for blockchain-based remittance led by MIT, Mastercard

SendFriend, a New York-based blockchain startup specializing in international money transfer to the Philippines, has raised $1.7 million in pre-seed funding from a group led by MIT Media Lab, Mastercard Foundation, Ripple and Barclays. Other investors include Techstars, Mahindra Finance, 2020 Ventures and 8 Decimal Capital. The blockchain-based platform, set to launch service from New Jersey and expand to other U.S. states, will allow customers, mostly overseas Filipino workers, to transfer funds back home for about 65 percent less than what is currently on the market, according to David Lighton, co-founder and CEO………………

Source: SendFriend gets $1.7M for blockchain-based remittance led by MIT, Mastercard

Can Blockchain Technology Make Agriculture Safer?

Smart contracts built on blockchain technology may eliminate the need for middlemen. Energy grids could use that tech to increase cybersecurity. And aerospace suppliers look to blockchain as a potential investment in keeping track of their supply lines and boosting efficiencies. But perhaps one of the most unexpected – and impactful – applications of blockchain may be in agriculture…………

Source: Can Blockchain Technology Make Agriculture Safer?

Is Blockchain The Answer To A Better Healthcare Industry – Andrew Arnold

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Data breaches are the nightmare of every major industry. When they occur, the aftermath costs of fixing the problem can be huge. According to a global study conducted by IBM and Ponemon Institute, in 2017 the cost of a data breach that occured in a major company averaged $3.62 million.

The healthcare industry suffers the highest toll in terms of the cost of breaches, being about $380 per single compromised patient record, which is 2.5 times the global average when compared to other industries.

The other major issue with healthcare is that it is a heavily regulated industry in terms of privacy, and for good reason. Personal healthcare information, along with all of the other data therein (birthdates, social security numbers, payment data, etc.) should be some of the most highly protected information on the planet, according to Jack Liu, CEO of ALLIVE, an intelligent healthcare ecosystem based on blockchain technology that provides encrypted health profile, personal AI doctor and comprehensive healthcare services.

The balancing act of accessibility versus security

Patients are taking more control over their health care needs, and the industry has responded by setting up database systems (EHR/EMR) that hold individual healthcare records. Patients can now access their data stored by healthcare providers with a username and password. Also, there’s Olife–one of the three components of ALLIVE–which gives people back control of their personal health data by encrypting and storing them on the blockchain. In the name of transparency this is a good thing.

At the same time, healthcare providers want to be able to share individual patient information among themselves when that becomes necessary e.g. when a patient is transferred to another institution. To this end, the U.S. government has even provided over $1.2 billion in funding to healthcare providers who work toward consolidated records on patients, so that there is a single “file” to which all individual practitioners have access. This is efficient and ensures that no condition, medication, etc. is overlooked as treatment protocols are implemented.

But with all of this consolidation and storage in cyberspace comes the clear threat of breaches. And the healthcare industry must look to innovative and more secure methods of both storage and transmission. The answer may very well lie in blockchain technology.

The promise of blockchain for the healthcare industry

While most associate blockchain technology with cryptocurrency, its use for a surprising number of industries is now being explored and implemented. Why? Because information and data are stored in immutable ‘blocks’ that cannot be altered and cannot be accessed without key codes provided to those who have permissioned access to the data.

The implications for the healthcare industry are pretty clear. Here are just a few examples of how exactly blockchain can improve data security.

1. Immutable and traceable patient records

According to Liu, “If patient records are recorded and stored in a blockchain-based system, they are secure and unalterable. Patients can grant permission to healthcare providers to access those records and to package new records into blocks that will become part of a permanent history of that patient.”

This all means that there is no more transmission of records via traditional means – means that leave themselves open to theft. A single irresponsible employee who has left their computer open to a breach and who holds medical records can mean that an entire database can be breached. If those records are entered into a blockchain and not held locally, however, that event cannot occur.

2. Reduction of pharmaceutical fraud/theft

Pharma companies need to track the movement of their drugs, especially controlled substances, from manufacture to end points in the supply chain. When blockchain is implemented, there is a full record of the transport of such drugs, leaving far less chance for them to be stolen at points of transfer. And recipients of such drugs know exactly where they came from and how they got to their endpoints. The implications for the reduction in drug counterfeiting are clear.

3. Improved data exchanges in clinical trials

It takes a long time for drugs to receive approval – years, actually. When studies are conducted globally, there is no method by which those studies can be collated into a single database. “Blockchain would mean that results of clinical trials can be securely consolidated and efficacy demonstrated,” Liu said.

4. Lack of insurance fraud

Insurance fraud is a major concern and it’s a crime. It occurs when dishonest providers and patients submit claims/information to receive payable benefits. There is billing for services not really performed; there is the falsification of a patient’s medical condition to justify tests; there is upcoding and kickbacks, etc. All of these things bring up the costs of healthcare insurance for everyone. For instance, Medicare fraud in the U.S. alone costs about $60 billion a year.

“A blockchain environment can eliminate a large portion of this fraud when providers and patients must enter their information and data to be verified, recorded and stored and health insurance companies must have access to that data,” Liu said.

No system is foolproof. But the traditional systems that are being used in healthcare today are woefully lacking in the security that could be available. The stakes of security beaches are high – not just in monetary costs and losses to industry providers but to patients whose personal information is at risk. Blockchain technology holds a great deal of promise for the healthcare industry, and it is time for all providers and researchers to explore the potential.

 

 

 

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