January 5, 2020
The digital economy is boosting all over the world with multiple fintech innovations using blockchain, digital assets, machine learning, and Web3 to change the way people interact with financial services. Distributed ledger technology remains one of the hottest trends among financial, government, and commercial organizations worldwide.
It is really important to stay tuned for the latest updates within the blockchain community. Let’s take a look at the most interesting solutions that use blockchain technology at the moment.
Due to the current circumstances, the biggest sports organizations are searching for new ways to boost revenue and keep their clients satisfied. At the same time, they want to adapt to today’s digital economy. Blockchain technology, in particular, has been utilized by major companies already in different ways. It is especially utilized as a solution to send digital tickets and special offers. These companies also provide notifications about the latest updates and more to event-goers, thanks to blockchain.
In addition, blockchain provides organizations with a ticket exchange that facilitates total control of primary and secondary segments and makes ticket distribution smooth.
This time, football fans will receive more than a million tickets purchased for the 51st match of the upcoming European Championship through the blockchain-based mobile app.
The Union of European Football Associations (UEFA) is confident that the new system will increase safety and convenience for football fans by preventing counterfeiting and duplication of tickets.
Tickets can be downloaded to the app seven days before the match. It will be crucial to activate them in the immediate vicinity of the stadium via Bluetooth and utilizing a QR code.
Global central banks are increasingly considering blockchain technology as a tool to increase the efficiency and transparency of interbank operations. A blockchain-based bond exchange system is being developed by the South Korea Central Bank. As stated in the strategy, it will improve market accounting and expedite settlements.
Yonhap Infomax reports that the Bank of Korea inspired the new decision by the example of the World Bank, which previously, together with the Commonwealth Bank of Australia, successfully sold bonds on the Ethereum public blockchain totaling $ 108 million.
The system will be developed for joint use by the relevant financial firms and central authority, as well as the Central Bank and the Fair Trade Commission (FTC), the market regulator.
Still, it is not disclosed whether only government bonds will be implemented into the blockchain initiative or whether it will also have corporate debt obligations.
Scottish startup plans to create a blockchain solution for processing satellite data in the mining sphere
In an article in Oil & Gas Middle East, it is reported that the European Space Agency (ESA) has announced funding a blockchain initiative to build a blockchain-based service that will help to boost the transparency and accuracy of satellite data for mining organizations.
The solution implements a startup called Hypervine from Glasgow. According to the team behind the project, mining companies have been compelled for months to verify information from numerous reports with data from satellite sources. A small creeping error can lead to serious, even catastrophic, consequences.
As we all may have noticed, climate change has become a key priority within different countries over the last few years. They appeared due to rising concerns over environmental changes that were urged by the emission of greenhouse gasses into the atmosphere. This time, blockchain technology can be the most powerful tool to significantly refine the situation.
ESA and Hypervine are confident that the blockchain system will not only lower the cost of conducting geodetic work at new places and potential risks for local groups but will also provide better environmental protection by boosting operational efficiency and decreasing carbon emissions.
Organizations can also use blockchain technology to reduce carbon emissions and improve our environment, helping build trust between them and the technology.
That is all for now. You won’t miss blockchain technologies and digital currencies on ICODA. Stay tuned for the latest updates.Stay tuned for the latest updates.
Rate the article
We reserve the right to change this policy at any given time, of which you will be promptly updated. If you want to make sure that you are up to date with the latest changes, we advise you to frequently visit this page.
What User Data We Collect
When you visit the website, we may collect the following data:
Why We Collect Your Data
We are collecting your data for several reasons:
Safeguarding and Securing the Data
Global Digital Consulting LLC is committed to securing your data and keeping it confidential. Global Digital Consulting LLC has done all in its power to prevent data theft, unauthorized access, and disclosure by implementing the latest technologies and software, which help us safeguard all the information we collect online.
The data we collect by using cookies is used to customize our website to your needs. After we use the data for statistical analysis, the data is completely removed from our systems.
Please note that cookies don't allow us to gain control of your computer in any way. They are strictly used to monitor which pages you find useful and which you do not so that we can provide a better experience for you.
Restricting the Collection of your Personal Data
At some point, you might wish to restrict the use and collection of your personal data. You can achieve this by doing the following:
Terms and Conditions
Please read these Terms and Conditions ("Terms", "Terms and Conditions") carefully before using the https://icoda.io website (the "Service") operated by Global Digital Consulting LLC.
Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service.
Links To Other Web Sites
Our Service may contain links to third-party web sites or services that are not owned or controlled by Global Digital Consulting LLC.
Global Digital Consulting LLC has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party web sites or services. You further acknowledge and agree that Global Digital Consulting LLC shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such web sites or services.
We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material we will try to provide at least 30 days' notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.
If you have any questions about these Terms, please contact us.