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Blockchain Will Revolutionize Agriculture and Food Supply Chain

The post Blockchain Will Revolutionize Agriculture and Food Supply Chain appeared first on Belfrics India.

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Speaking at the launch of Belfrics Kenya’s Bitcoin Exchange on Saturday at the Villa Rosa Kempinski, in Nairobi, Kenya, he explained that even though there has been little talk of blockchain in agriculture, the sector stands to benefits immensely from the technology.

Mr Kimani Mbugua, CEO of Greenspec, a Kenya Agro-Processing company has stated that the blockchain technology has the potential to transform agriculture tremendously.

Speaking at the launch of Belfrics Kenya’s Bitcoin Exchange on Saturday at the Villa Rosa Kempinski, in Nairobi, Kenya, he explained that even though there has been little talk of blockchain in agriculture, the sector stands to benefits immensely from the technology.

Kimani, who is also well known in Kenya for promoting soya and conservation agriculture outlined sectors that can be transformed by the blockchain.

He said:

The blockchain application has huge potential in three key areas of Agriculture which consist of Real Time Management, Supply Chain and Mobile Payment and Financing.

Mr. Kimani Mbugua Speaking At The Launch Of Belfrics Kenya

Food Chain Supply

He elaborated that consumer demand for clean food and radical transparency in the food chain including organic, which many people are moving onto these days, are skyrocketing. However, producers and manufacturers are often struggling to verify the exact accuracy of data from the farm to the table.

He remarked:

But with the blockchain, you’ll be able to know from the label what and how they used to produce the food when you buy it and they can never shortcut you.

He decried the current phenomenon where there are no easier and accurate means to verify the exact origin of commodities by manufacturers and issues like slave labour and pollution.

The agriculture expert holds that irrespective of the shortfall, consumers within rich markets like organic food are increasingly prepared to pay for products that provide such information. He was of the view that today’s solutions that revolve around certification and regulation which add cost are tedious to enforce and confusing to customers.

He added:

The value of the blockchain here is its ability to make the supply chain entirely transparent and rich with the immutable provision of data from farm to the dining table. The blockchain will ensure that participants along the supply chain can’t temper with this information.

Ultimately, Kimani maintains the process provide confidence to manufacturers and consumers where the food comes from and how it is produced. He was therefore upbeat about the role of the blockchain in agriculture.

Belfrics in Africa

Addressing the bitcoin community at the function, Praveen Kumar, CEO of Belfrics Global, revealed that the company will be opening bitcoin exchanges across the African continent in the coming months. According to Praveen, his outfit has been convinced to make that decision as the result of the volumes that came out of the trial test in the Kenyan market.

The company, which is based in Malaysia, but with bitcoin exchanges in India, Singapore and now Kenya will enter the Nigeria, Ghana and Botswana market in the coming months. This is a good omen for adoption in Africa since the so-called dark continent lacks infrastructure like this to enable buying and selling of the cryptocurrency.

Source: https://india.belfrics.com/press-articles/blockchain-will-revolutionize-agriculture-and-food-supply-chain/

Blockchain

EOS: Why there’s a question mark attached to its long-term trajectory

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

The lack of buyers for EOS has certainly hurt its price progression on the chart. Facing strong competition from the likes of Solana, Cardano, and Ethereum, the smart contract operator has gone relatively unnoticed since the wider crypto-crash on 19 May. This was evident from its recent trading volumes which were nowhere near levels seen during its run-up to May highs.

While a bullish pattern did attempt to change this situation, 7 September’s flash crash came at an unfortunate time. Since then, while EOS did regain some lost ground, it was yet to fully convince observers of a speedy recovery.

At the time of writing, EOS was trading at $5.27 with a market cap of $4.94 billion.

EOS Daily Chart

Source: EOS/USD, TradingView

A falling wedge breakout in early September set EOS for higher price levels but 7 September’s flash crash played spoilsport. Since then, EOS began to take shape within a bear flag which presented chances of a breakdown. A close under the daily 20-SMA (red) and the $4.8-support would set EOS on a southbound path below 7 September’s swing low of $4.15.

The support areas of $4 and $3.5 would look to stem further bleeding in the market.

To shatter this outlook, EOS would need to register a close above $5.7 on strong volumes. This would allow the digital asset to target previous highs formed at $6 and $6.4.

Reasoning 

Now, the Relative Strength Index has been forming higher peaks over the past week and a half – A positive sign. However, the index is yet to assert itself in bullish territory. In a weak market, the RSI normally finds resistance between 55-60 and drops lower once again.

Similarly, the MACD was inching higher but at a relatively slow pace. A bullish outcome cannot be expected till the index rises comfortably above its half-line. The On Balance Volume presented a wider picture. According to the index’s downtrend, sell volumes have been higher than buy volumes over the past month.

Conclusion 

Since EOS was trading within a bear flag pattern, a breakdown can be expected going forward. In such a case, expect buyers to respond at support levels of $3.5 and $4. To overcome this situation, buyers need to maintain EOS within its current pattern. This would heighten the chances of a break in the opposite direction.

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Source: https://ambcrypto.com/eos-why-theres-a-question-mark-attached-to-its-long-term-trajectory

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Blockchain

EY Taps Polygon Network to Improve Enterprise Clients’ Experience 

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Major multinational professional services company Ernst & Young (EY) announced the adoption of the Polygon protocol for the deployment of its blockchains to provide faster transactions and lower costs for its enterprise clients who transact on the Ethereum mainnet.

EY Clients Can Now Access Polygon Network

The “Big Four” consulting firm stated in the press release from earlier this week that it has integrated its flagship blockchain services such as EY Blockchain Analyzer and EY OpsChain into Polygon’s permissionless commit chain, making it easier for clients to access the latter’s network.

Increased transactions happening on the Ethereum network have led to congestion and higher costs. Meanwhile, EY believes that connecting to Polygon’s commit chain solutions will provide the company’s enterprise clients with “increased transaction volumes with predictable costs and settlement times.”

Commenting on the latest development was EY’s Global Blockchain leader, Paul Brody, who said:

“Working with Polygon provides EY teams with a powerful set of tools to scale transactions for clients and offers a faster roadmap to integration on the public Ethereum mainnet. We discovered our shared priorities around open system and networks and the Ethereum ecosystem would make collaboration in this area much easier.”

Polygon co-founder Sandeep Nailwal also made a statement, saying:


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“The EY commitment to the public Ethereum ecosystem and to open standards was a big driver in evolving shared approaches. No other organization has made the same scale of commitment to the ecosystem and to open systems, or brings the depth of technology that the EY organization has in this space.”

Also, both EY and Polygon are working towards developing “permissioned, private industry chains” that would utilize Optimistic rollups, which enable cheaper transactions and robust efficiency.

More Partnerships for Polygon

Polygon, a layer-2 scaling solution for Ethereum, continues to be one of the widely adopted blockchains. In July, US-based cryptocurrency exchange giant Coinbase connected its wallet mobile app to the Polygon network.

Formerly known as Matic Network, the protocol was rebranded to become Polygon back in February 2021. Later in June, the Ethereum scaling solution announced that it was planning to launch an all-purpose blockchain network for standalone chains, sidechains, and other Layer-2 solutions, called Avail.

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Source: https://cryptopotato.com/ey-taps-polygon-network-to-improve-enterprise-clients-experience/

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Sorry, Everyone. Walmart and Litecoin Have NOT Formed a Partnership

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Walmart has been making a real name for itself in the crypto space. Many analysts were thrilled when the retailer announced not too long ago that it was looking to hire a crypto product specialist for its new blockchain division, suggesting that the firm was following in the steps of Amazon, one of its biggest competitors.

Walmart and Litecoin… If Only!

According to a recent news release, the company had engaged in a partnership with leading altcoin Litecoin, which emerged in the year 2011 following a hard fork of bitcoin, the world’s most popular digital currency. Following the issuance of the release, crypto fans celebrated on social media platforms and the price of Litecoin shot up by as much as 20 percent. It seemed like the asset was unstoppable… until it was revealed just moments later that the release was a hoax, and no partnership of any kind had been formed.

The initial nature of the press release was that Walmart would accept Litecoin for payments. Already, one had to assume that something was a little fishy about the statement. The company made no mention of bitcoin, meaning it was allegedly not willing to accept BTC – the largest and most powerful crypto asset in the world – but was willing to give the greenlight to payments initiated through a smaller competitor? That doesn’t make a whole lot of sense when one puts two and two together.

Either way, it looks like the release was widely distributed and believed before Walmart could get the news under control. At the time of writing, it is unclear who issued the release or who wrote it. It is also not clear how the news came about, though Walmart has explained on its website that it is now looking into the matter while also assuring its customers that there is no partnership whatsoever between it and Litecoin.

A Walmart spokesperson explained in an interview:

We are digging into it further to understand what happened.

The situation seems innocent enough. After all, if the perpetrator is found out, all he would have to do is issue an apology and promise never to do anything like that again, right? Well, as it turns out, situations like these can wreak havoc on the allegedly issuing company, in this case Walmart. As the retailer is a publicly traded business, Walmart could potentially face liabilities from organizations and agencies such as the Securities and Exchange Commission (SEC), which could open its own investigation into the company to discover what happened.

This Can Be a Serious Problem

Speaking with The New York Times, Andrew Calamari – a lawyer with Finn Dixon & Herling and a former securities director with the SEC’s New York office – mentioned in a statement:

It is a misrepresentation involving a public issuer.

Tags: Amazon, litecoin, walmart
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Source: https://www.livebitcoinnews.com/sorry-everyone-walmart-and-litecoin-have-not-formed-a-partnership/>

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