Category Archives: development

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Major Bank in Russia Announces Partnership with Energy Giant to Propagate Blockchain

The largest majority state-owned bank in Russia, Sberbank, revealed details of a partnership with major state-run power company Rosseti, which includes the promotion of emerging technologies such as blockchain.

Together, the pair plan to collaborate on a number of projects with the joint aims of advancing blockchain in Russia, and developing their own internal expertise. A press release detailing the partnerships reads that they will work on educational projects and research trials with one another.

The strategic partnership is a significant move from Russia as it continues to pursue a leading place in the nascent technological field through its various company arms. In this instance, it seems to be using the collaboration as a means of sharing information and progress.

Part of the agreement states that Sberbank will supply Rosseti with a consultant to increase general efficiency and performance, alongside access to the bank’s ”innovative laboratory developments” and its full ecosystem of products.

Apart from sharing its blockchain data, Sberbank will provide Rosseti with its experience and developments in the field of the internet of things (IoT), business process automation, robotics, VR / AR, big data, and artificial intelligence (AI).

Sberbank was one of two financial institutions behind the launch of Russia’s first cryptocurrency investment fund in July 2018, that came as part of the Russian central bank’s ‘regulatory sandbox’ initiatives. Bitcoin, Bitcoin Cash, Ethereum and Litecoin will form an investment portfolio of digital financial assets for the banks to experiment with.

Bitcoin News reported last week on the disappointment from experts surrounding the current content of Russia’s long-awaited cryptocurrency regulatory bills.

Artem Tolkachev, chairman of the Russian Blockchain community claimed that as it stands now, the bill leaves much room for inefficiencies, in part due to the fact that crowdfunding section and the Russian Civil Code were written by different entities, and the contents conflict with each other.

 

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JD.com Launches Blockchain-as-a-Service Platform

JD.com, China’s largest retailer, has launched a Blockchain-as-a-Service (BaaS) platform for use by businesses looking to develop blockchain solutions. The new platform will allow them to adopt DLT without having to build the technology from the ground up.

As detailed in the recent press release, the JD Blockchain Open Platform enables developers to build, host and implement solutions on the JD constructed blockchain platform. Customers will be able to create and adjust smart contracts on either a public or private enterprise cloud, as well as utilize the tracking and tracing of goods function from the production line to the retail destination. Blockchain tracking benefits customers by its ability to provide an authenticity certification of the goods served.

The first partner is China Pacific Insurance Company (CPIC), which has used the platform to issue official Chinese business receipts known as ”fapiao.” According to the press release, the system is able to increase security practices for all e-invoices. Yanhong Pan, vice president and CFO of CPIC, said that he is confident that the use of the open platform is streamlining the efficiency of his operations and noted that blockchain technology is forcing all companies to shift their business practices.

The JD Blockchain Open Platform is part of JD.com’s Retail as a Service (RaaS) strategy that seeks to provide sophisticated technological infrastructure to other companies and industries. By empowering businesses that may not have the means or skills necessary to develop their own blockchain, JD’s strategy may well be significant in the adoption of blockchain tech; its blockchain goods tracing platform, launched last year has already served over 400 brands.

Blockchain in China

Blockchain developments in China have been propelling the country as a leading industry figure. The Chinese Ministry of Industry and Information Technology (MIIT) has been particularly proactive in accelerating blockchain adoption by building a strong ecosystem to support a variety of industry sectors and the expansion of the technology across these fields.

On Monday, the MIIT listed a blockchain research laboratory in its list of key labs for the year. The Key Laboratory of Blockchain Technology and Data Security Industry and Information Technology is under supervision from the National Industrial Information Security Development Research Center.

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South Korea Plans Blockchain Youth Development Program

South Korea has announced plans to launch a blockchain-focused training initiative targeted at emerging talent from the country’s younger demographic.

The young participants will benefit from a six-month blockchain and technology training course covering a variety of emerging sectors, with the primary goal being stated at decreasing youth unemployment while matching individuals with job opportunities well suited to them.

The students will be trained in a total of 40 courses including blockchain development, as well as software, hardware, autonomous vehicle and drone modules. Each unit was carefully configured to match the employment personnel needed for the various industries local to South Korea.

A key objective of the plan involves building direct relationships between educational institutions and companies to coordinate an advantageous cooperation of building the skill sets that employers need from prospective employees.

In a press release on Thursday, the ministry called for a demand of future employees to participate from the beginning of the project so that the most effective outcome is reached.

Software policy officer at the Ministry of Commerce, Industry and Energy, Young-Kyung Won, noted that while unemployment of the younger generation is becoming a social problem, job mismatch is also becoming a serious issue in the country.

Through an innovative approach to fostering talent, Young-Kyung hopes that companies’ level of vision can be matched by the youths alongside developing better support networks to match them with and offer them job opportunities.

The government-led 2018 Innovative Growing Youth Talent Concentration Project has been organized collaboratively by the Ministry of Science and ICT and the Institute for Information and Communications Technology Promotion. Recruitment and selection events were held by local governments between 11 June and 10 July.

Individual trainees will be chosen through the month of August via self-selection criteria at each educational facility. The course is scheduled to begin mid-September.

 

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