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Blockchain 2020: What’s Next?

Blockchain 2020: What’s Next? Blockchain technologyRead More →

The post Blockchain 2020: What’s Next? appeared first on Crypto Core Media.

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Blockchain technology is becoming more mature as we enter 2020. Cryptocurrencies are settling down and becoming more mature. There are more coins and ledgers utilizing blockchain as a core technology for maximum security.

Transactional blockchain networks are also becoming more common. You can still pay for products using Bitcoin and other cryptocurrencies, and all payments are processed faster and more efficiently than ever.

It is, however, interesting to see where blockchain technology will be implemented next, especially in 2020. So, what’s next for blockchain?

Edutech on Blockchain

The most immediate trend of blockchain utilization is affecting the education industry. Top names such as Suffolk University are already making their programs available online. You can, for example, pursue healthcare management degrees through online MHA programs.

The availability of online programs and degrees means a switch to a blockchain-powered education network is only a step away. Since blockchain provides ledgers with high integrity, elements of the online courses (i.e. grades, exam results, assignments, etc.) can be stored in a blockchain network.

Blockchain may also influence other parts of the education landscape. Among the most popular scenarios of implementation are:

  • Using blockchain to store grades and exam results for students in public and private schools
  • Blockchain powering the distribution of course materials and entire online learning platforms
  • Education information security being enhanced using blockchain’s distributed nature
  • The implementation of blockchain to decentralize education entirely

These may seem like big steps for edutech, but they are steps that some have already taken. It is only a matter of time before blockchain becomes a crucial technology for education.

Blockchain for Healthcare

Blockchain has some characteristics that make it fit the healthcare industry perfectly. The decentralized nature, the particular attention to security, the way blockchain maintains the integrity of stored information, and the flexibility of blockchain networks make the technology the perfect solution for electronic medical recordkeeping.

Today, healthcare institutions rely on cloud servers or on-premise hardware to store EMRs. Unfortunately, despite the high HIPAA security standards, the approach still presents some serious and unmitigated security risks.

Blockchain eliminates those risks completely.

  • Instead of being stored in a database, EMRs are stored in a network without a single point of failure
  • Stored EMRs can be tracked down to the very first entry with blockchain’s ledgering approach
  • Blockchain itself is more efficient, which means it will lower the cost of maintaining large volumes of EMRs over time

Blockchain-Based Single Identity

Speaking of EMRs and personal information, there are talks about using blockchain to power a single-identity system in several countries. Japan and South Korea are the closest to a real implementation, but other countries also consider the flexibility of blockchain as appealing.

The banking industry is looking at blockchain for the same reason. By establishing a single customer identity and using blockchain to log transactions, better data integrity can be maintained for years to come.

Which of these possible implementations are the most exciting to you? The possibilities are endless for blockchain as a technology. Expect to see 2020 as the year when blockchain becomes more common in more industries.

Source: https://cryptocoremedia.com/blockchain-2020-whats-next/

Blockchain

BTG Pactual becomes first bank in Brazil to participate directly in the crypto market

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Financial institutions have been increasingly keen on being part of the booming $2 trillion cryptocurrency market, with over 13 of the world’s largest banks pushing roughly $3 billion in funding so far, into cryptocurrency. The latest major news came from Brazil.

One of the leading Brazilian investment banks BTG Pactual has been trending within the crypto community. It launched a new platform enabling customers to make direct investments in cryptocurrencies. Ergo, making it the first major financial institution in Brazil to participate directly in the crypto market.

According to local news outlet, The Rio Times,

“…the launch of Mynt, a platform that allows BTG Pactual Digital and BTG+ clients to trade directly, cryptocurrencies such as bitcoin and ether.”

Andre Porthilo, BTG Pactual’s head of digital assets, stated,

“At this first moment, we will have the two main assets of the market, but we will include other cryptos for trading over time. We will have a complete platform with blockchain-based assets.”

One thing that remained in common with different banks incorporating these tokens is the fact that they have been responding to “demand from our customers who wish to trade crypto.” This news is no different.

Plans

BTG Pactual CEO, Roberto Sallouti laid out his plan of action with this development. He opined, “As a new asset class, we will also have content to educate and inform our customers about these assets and the technology.”

Needless to say, Brazil has witnessed an immense amount of crypto traction. That said, regulators too have taken steps to curb illicit activities. As asserted by the CEO, the said bank will be regulated by both the Brazilian Securities Commission and the local central bank. Moreover,

“With the support of BTG Pactual, Mynt has fundamental differentials in security and credibility…”

Past

The said bank had previously incorporated digital assets in previous operations as well. In 2019, it launched its real estate-backed security token ReitBZ. This step was executed post-examining digital assets for a couple of years. Just recently, the bank announced collaboration with Gemini, the U.S.-based crypto exchange. Gemini provided custody services to the first Bitcoin fund issued by a Brazilian investment bank.

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Source: https://ambcrypto.com/btgpactual-becomes-first-bank-in-brazil-to-participate-directly-in-the-crypto-market

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Basel Committee Crypto Rules Face Backlash

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Source: https://cryptobriefing.com/basel-committee-crypto-rules-face-backlash/?utm_source=main_feed&utm_medium=rss

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Ethereum NFT Game Sorare Fantasy Soccer Raised $680 Million

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Ethereum NFT game Sorare fantasy soccer just raised $680 million and it is now valued at $4.3 billion while launching a US office so let’s read more today in our latest Ethereum news.

The Ethereum NFT game Sorare fantasy soccer raised $680 million and the french startup now plans to expand into other sports as well as to onboard women’s soccer teams and US office. Sorare is an Ethereum-based fantasy soccer game based on NFT trading cards and grew dramatically in 2021 with a rising base and huge trading volume not to mention the new licensed teams in the mix. Today, however, the startup is using the momentum with the announcement of a new funding round.

NFT Game Founder, scammer, eth, cryptopunks

The $680 million Series B round values the company at $4.3 billion after a $50 million Series A round which was announced back in February and the new series was led by Japanese tech and investment conglomerate SoftBank that has a number of crypto industry dealings through SBI holdings financial services division. Sorare is focused on soccer with players from more than 175 licensed clubs like FC Barcelona, Juventus FC, and Paris Saint Germain FC as some of the most popular. Nicolas Julia, the co-founder and CEO of Sorare said that this week the company plans to expand into other sports and it will open a US-based office in the upcoming months to help “continue to grow with fans and sports leagues.” He continued:

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“We have ambitious plans to keep growing Sorare into a sports entertainment giant. The new funding will be used to help us continue to grow a world-class team, expand to new leagues and new sports, and keep improving our experience for users, including shipping a mobile app.”

nba top shot

Dapper Labs’ NBA Top Shot is similar to Sorare, built around NFTs and based on professional athletes. An NFT acts like a deed of ownership to a scarce digital item so in the case of Sorare, it’s a digital trading card that can be purchased and resold with each available in limited quantity. One NFT card can even reach $290,000. Unlike Top Shot, however, Sorare has an ongoing game component and is similar to other fantasy sports in that you can choose your top players each week as well as the leagues with other users. Sorare also has close ties with Ubisoft as it took the accelerator program this year.

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Source: https://www.dcforecasts.com/ethereum-news/ethereum-nft-game-sorare-fantasy-soccer-raised-680-million/

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