Thursday, February 21, 2019
Home » Tag Archives: Blockchain Application

Tag Archives: Blockchain Application

Feed Subscription

Walmart Turns to Blockchain Technology to Solve Food Safety Concerns

  by David Drake   Earlier this year, Walmart announced plans to use blockchain technology in its supply chain management system. This followed successful piloting of its blockchain-based supply chain system that developed in partnership with the International Business Machines IBM) corporation. Through an open letter to fresh leafy greens suppliers, Walmart is set to roll out its blockchain-based supply chain management system in the market. Across the globe, blockchain continues to gain traction as a technology that has capabilities to solve a myriad of problems. In the marketing space, Noiz Chain is using the technology to power interactive marketing while Epic Mega is using the technology to develop and share entertainment content. Food Safety In an action referred to as ‘Walmart Food Traceability Initiative’, all suppliers of fresh leafy greens will be required to integrate their two-phase systems to the blockchain based system by September 2019. The first phase ... Read More »

World Economic Forum Touts Blockchain as a Solution to Environmental Concerns

  by David Drake    The wave of typhoons and hurricanes experienced last month clearly demonstrate that climate change is already here with us. Hong Kong experienced the ‘King of Storm’ at Category 10. An article published on the New York Post argues that global warming is making hurricanes more intense. Amidst all these environmental challenges, a report released by the World Economic Forum (WEF) shows that blockchain technology can help tackle pressing environmental problems in the world including climate change and natural disasters. Titled ‘Building Block(chain)s for a Better Planet’, the report explores the implications of emerging technologies and the impact they can have on the global society. Blockchain technology remains underutilized in the environmental sector. It has captured the attention of supply chain management and financial structures. It has also powered numerous startups across sectors including Noiz Chain in the interactive marketing space, LiveTradr in the portfolio optimization ... Read More »

The Real Reason Blockchain Technology Could Help Address Environmental Challenges

  by David Drake     In the last two years, the popularity of blockchain has grown in leaps and bounds. In 2018, the technology has formed the foundation on which startups like Noiz Chain and Epic Mega have built their marketing and entertainment content solutions. However, its potential is yet to be fully utilized according to a World Economic Forum (WEF) report developed by PwC. One of the areas where blockchain has not been applied – but has huge potential – is the environmental sector. The WEF report, titled, ‘Building Block(chain)s for a Better Planet’, highlights more than 65 blockchain use cases in addressing environmental challenges facing the world today. Just last month,  a wave of hurricanes and typhoons were experienced in the US and Asia. These natural activities are proof that climate change is real and are likely to become rampant should global warming continue. As such, there is ... Read More »

Walmart to Lower Food Contamination Using Blockchain in 2019

  by David Drake    Blockchain has gained traction as a technology for powering the financial sector in recent years. But this is changing fast. Just recently, Walmart, a mega retailer in the US said it will deploy blockchain technology in its logistics department as early as next year. The retailer will use blockchain to track suppliers’ movement of vegetables in a bid to contain contamination. Blockchain has received a warm reception from both large and medium sized financial institution. However, the technology is increasingly becoming popular in startup companies such as Epic Mega and Noiz Chain that are using it to power entertainment content and marketing solutions respectively. This makes sense considering that the technology was originally designed to aid in tracing cryptocurrencies for transparency purposes. To do this, blockchain utilizes Distributed Ledger Technology (DLT) that makes it hard for bad actors to commit fraud. Beyond Fintech Last month, ... Read More »

Why Blockchain Adoption in Logistics will Happen Faster than in Fintech

  by David Drake     Over the years, the application of blockchain has largely been associated with the financial sector. This is perhaps because of its ability to enhance transparency in financial transactions and reduce the cost of transferring funds. But this is now changing as companies develop blockchain-based solutions across sectors. Great examples of innovative solutions powered by blockchain include Noiz Chain and Epic Mega in marketing and entertainment content, respectively. But the largest application of blockchain outside the fintech sector is happening at Walmart. Earlier this year, this US-based mega retailer made public its plans to utilize blockchain technology to enhance transparency in its food business, improve its contamination management and reduce wastage. Last month, the retailer made its plans definite. Media reports now show that Walmart has everything set to begin rolling out blockchain-based supplier management in 2019. The retailer says that starting next year, its leafy ... Read More »

What Prospects Does Blockchain Offer in Solving Environmental Problems?

  By David Drake   Blockchain is seen to be a technology that has potential to handle diverse prospects and challenges in different sectors. As a matter of fact, the technology is already powering solutions such as portfolio optimization by LiveTradr, entertainment content platform by EpicMega  and interactive marketing by Noiz Chain. By solving these challenges, blockchain provides an opportunity for development of new solutions and investment opportunities. Just recently, the World Economic Forum (WEF) launched a report that identifies 65 blockchain use cases  in the environmental sector. The report highlights overall benefits of blockchain application in the sector including decentralized systems, reduced costs, transparency in tracking, efficient monitoring, new markets for investors and reliable transactions. With these benefits, it is highly likely that developers, businesses and investors will find value in utilizing the technology to address key environmental challenges. According to Raghav Reggie Jerath, CEO of Gath3r, the various ... Read More »

Can Blockchain Technology Help with Building a Better Planet?

  By David Drake   Since the industrial revolution in the 1950s, there have been numerous gains in various economic facets, including agriculture and manufacturing. Unfortunately, these gains have also yielded unintended consequences for the environment due the loss of biodiversity and habitats leading to global warming and climate change. As such, the fourth industrial revolution has to help address these environmental challenges and manage shared resources efficiently to ensure sustainable development. To realize this, technology will have to play a key role in enabling these efforts. Just recently, the World Economic Forum (WEF) released a report dubbed ‘Building Blockchain for a Better Planet’ showing the potential that blockchain technology has to help tackle the world’s most pressing environmental problems, including climate change and natural disasters. Numerous Use Cases The WEF report identified more than 65 existing and emerging use-cases of blockchain technology in addressing environmental problems. Examples of areas ... Read More »

Can Blockchain Transform the Logistics Industry Beyond Fintech?

  By David Drake   Blockchain adoption has often been associated with fintech more than any other industry. However, there has been an increased interest with industries in different sectors seeking to  incorporate the technology blockchain in their operations. From manufacturing, real estate, legal to marketing and entertainment, companies like Noiz Chain, Epic Mega and LiveTradr are looking for ways to incorporate blockchain in their dealings. Blockchain has paved way for other industries to grow. Beyond fintech, an industry that has demonstrated potential in blockchain adoption is logistics according to John Hoelzer, founder and CEO of ONe Network. He says, “Fintech has been the Soup of the Day for quite some time, as it should have been. But now Blockchain is becoming more and more mature and understood. This allows for different markets to find new ways of using Distributed Ledger Tech to better their own industries. Logistics will be one of the many different industries ... Read More »

Why China is Embracing Blockchain But Shuns Cryptocurrency

  by David Drake     For more than 18 months now, China has waged war against cryptocurrencies. About a year ago, the country placed a ban on the sale of initial coin offerings and just weeks ago, it increased pressure on cryptocurrency activities. But even as the country suppresses any efforts of digital asset trading by limiting speculation, it is increasingly embracing blockchain technology. The technology is known to facilitate secure transactions between parties, eliminate the need for intermediaries,such as banks, and provide a faster way of transferring funds at a more affordable rate. New Opportunities As a result of these capabilities, the technology has captured the attention of numerous developers. This has resulted in the creation of blockchain-backed companies which utilize this technology to address real problems across sectors. Such companies include web mining monetization platform, Gath3r, peer-to-peer crypto trading firm, BQT, and portfolio optimization platform LiveTradr. At the ... Read More »

The Real Reason Blockchain Is Not Ready for Mass Scaling

  by David Drake     Blockchain has proven to be disruptive technology with capabilities previously not imagined.  It offers comparative advantages of transparency, speed and efficiency over other existing payment networks. These advantages have propelled blockchain to the top with developers, investors and corporates scrambling for a piece of the pie. Over the last 18 months, numerous projects have been developed on blockchain. They include BlockVest designed to support management of digital asset portfolios, BQT for facilitating hedge fund trading, Gath3r for optimizing web mining and ONe Network for securing social interactions. Other interesting projects backed by blockchain include family smart contracts platform URAllowance, interactive marketing platform, Noiz Chain, crypto coupon marketplace, Qupon and portfolio optimization platform, LiveTradr. By the end of 2017, at least 200 enterprises were piloting Ethereum’s blockchain in different ways. Players such as Ripple were having enterprise customers piloting on its blockchain in small-scale. However, 2018 ... Read More »

Scroll To Top