Blockchain

KFC Launches Blockchain Program in the Middle East

KFC has launched a blockchain pilot program in the Middle East in regards to the chain’s digital advertising and media buying. The worlds of delicious fried chicken and distributed ledger technology are combining in the Middle East. Kentucky Fried Chicken (KFC), one of the world’s most recognizable fast-food brands, is harnessing the power of blockchain […]

The post KFC Launches Blockchain Program in the Middle East appeared first on BitcoinerX.

Published

9 months ago

April 30, 2020

Republished by Plato

KFC has launched a blockchain pilot program in the Middle East in regards to the chain’s digital advertising and media buying.

The worlds of delicious fried chicken and distributed ledger technology are combining in the Middle East. Kentucky Fried Chicken (KFC), one of the world’s most recognizable fast-food brands, is harnessing the power of blockchain technology to create trust in its advertising supply chain and harness the power of real-time data and analytics.

KFC Embracing Innovative Technology

KFC is the first fast-food restaurant chain in the Middle East to turn to blockchain technology to enhance its digital advertising. One benefit of using distributed ledger technology is that a greater emphasis is being placed upon the security and privacy of the restaurant’s consumers, advertisers, and publishers.

KFC using blockchain technology in the Middle East.

The restaurant chain is looking to leverage the power of real-time data through the blockchain and gain some tangible benefits. One such benefit is to cut down on fraud in the supply chain by having every ad delivery and placement registered on the blockchain.

Another benefit of using the blockchain is to increase the visibility and market penetration of KFC while also cutting down on media saturation. The goal is to maximize ad placements and get the biggest bang for the buck in regards to ad revenue. Blockchain technology allows the restaurant chain to work smarter, not harder, in their media campaigns.

The chief marketing officer for KFC, Ozge Zoralioglu, says, “Historically, marketers have collected data from various different sources and run a campaign pegged on these mismatched insights. Today, marketers must get to the original source of the data: the consumer. Blockchain technologies ensure that they get first-hand information from the target audience themselves.”

He adds:

By innovating a sophisticated blockchain solution, KFC can now benefit from enhanced visibility of real-time data and the most updated insights – all with full confidence that information is authenticated, tamper-proof and hence credible. Leveraging blockchain technology’s immutability means that together, we are able to improve trust, transparency and efficiency in our supply chain.

[embedded content]

Global Reach

It’s fascinating to see a brand like KFC, known for its down-home country menu, embrace blockchain technology. The chain has come a long way from when Colonel Sanders first began selling his own brand of fried chicken with his secret recipe of 11 herbs and spices back in 1952.

The restaurant chain is now the second-largest fast-food chain in the world when it comes to sales. (McDonald’s is number one.) By the end of 2018, KFC boasted 22,621 locations scattered across 136 countries.

This new program shows that old dogs can learn new tricks.

Images courtesy of Pixabay and YouTube/KFC.

Source: https://bitcoinerx.com/blockchain/kfc-launches-blockchain-program-in-the-middle-east/

Blockchain

45,000 Bitcoin Mining Rigs Confiscated by Iranian Authorities Amid Blackout Controversy

Published

3 hours ago

January 18, 2021

Republished by Plato

Iranian authorities have confiscated 45,000 bitcoin mining rigs that used subsidized electricity to mine the cryptocurrency. This is yet another considerable seizure in the Middle East country, which has experienced frequent blackouts that the government blamed on BTC mining.

45,000 BTC Mining Machines Confiscated In Iran

Local media outlets reported that the police had seized about 45,000 rigs that consumed 95 megawatts per hour (MWh) of electricity at lower prices.

Head of the country’s state-run electricity company, Mohammad Hassan Motavalizadeh, said that the perpetrators also modified street lighting systems in Tehran and other cities.

“The total reduced consumption corresponds to the (electricity) usage for a city with a population of over half a million.” – he added.

The report outlined that the country has faced numerous similar situations in the past several months. Earlier this January, the Energy Ministry halted the supply of electricity to a giant farm in the southeastern region after a video circulating social media channels showed tens of thousands of BTC mining rigs situated under the same roof.

It’s worth noting that Iran became one of the first countries to legalize cryptocurrency mining in 2019. However, all miners had until August 2020 to register with the authorities, otherwise risk operating outside the country legislation. This is why Iran has initiated a nation-wide crackdown on various farms that failed to register within the timeframe.

Mining Blamed For Blackouts

The Middle Eastern country has experienced several issues lately that the government blamed on bitcoin. Apart from the aforementioned frequent blackouts, some of the nation’s largest cities have seen intense air pollution in recent weeks.

However, a popular crypto analyst Ziya Sadr told the Washington Post that bitcoin mining takes a low percentage of the overall electricity capacity and shouldn’t receive the blame.

“The miners have nothing to do with the blackouts. It is a known fact that the mismanagement and the very terrible situation of the electricity grid in Iran and the outdated equipment of power plants in Iran can’t support the grid.”

Separately, the absence of natural gas due to intense consumption to heat private homes has driven plants to use lower quality fuels that have polluted several cities.

SPECIAL OFFER (Sponsored) Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

Source: https://cryptopotato.com/45000-bitcoin-mining-rigs-confiscated-by-iranian-authorities-amid-blackout-controversy/

Blockchain

Australian crypto exchange operator accuses banks of discrimination.

Published

4 hours ago

January 18, 2021

Republished by Plato

Allan Flynn, a Bitcoin trader in Australia, has filed a complaint against two commercial banks ANZ and Westpac, accusing both of systematic discrimination. According to the Australian Financial Review report, Flynn is seeking compensation to the tune of 250,000 Australian dollars (about $192,000). According to Flynn, he has been the victim of discriminatory practices, with banks allegedly continuing to shut down his accounts. Flynn lamented that no fewer than 20 banks closed accounts operated by his exchange in the last three years.

The crypto exchange service is registered with AUSTRAC.

The reported account closures come despite Flynn’s crypto exchange service being registered with the Australian Transaction Reports and Analysis Centre, or AUSTRAC. Flynn’s platform reportedly services over 450 customers. Earlier last year, the crypto exchange operator lodged a complaint with the Australian Financial Complaints Authority. However, AFCA ruled that Westpac — one of the banks involved in the matter — acted per its laid down terms and conditions. At the time, Westpac offered Flynn 250 Australian dollars as restitution for the sudden account closure, which the complainant says he is yet to receive.

Banks denying services to crypto exchanges is not restricted to Australia.

Crypto exchanges accusing banks of discriminatory practices are not restricted to Australia alone. Earlier last year, India’s Supreme Court reversed the central bank’s ban against banks servicing crypto businesses. However, reports still emerged of “crypto-phobic” behavior among Indian banks even after the Supreme Court’s decision to overturn RBI’s blanket ban on cryptocurrencies. A similar situation also exists across Latin America, where commercial banks continue to intensify account closures targeted at crypto exchanges. In Brazil, two major platforms were also forced to shut down their operations following stringent tax compliance policies.

Source: https://chaintimes.com/australian-crypto-exchange-operator-accuses-banks-of-discrimination/

Blockchain

Pantera Capital’s Big Bitcoin Price Prediction Playing Out Exactly As Forecast, Says Dan Morehead

Published

4 hours ago

January 18, 2021

Republished by Plato

Pantera Capital founder and CEO Dan Morehead is doubling down on his bullish 2021 Bitcoin prediction, asserting that the leading crypto asset is still right on track to hit $115,000 by August 2021.

In Pantera’s latest Blockchain Letter, Morehead says that Bitcoin’s price movements, although delayed by a week, are playing out exactly as forecast based on the stock-to-flow projection published last year.

“Bitcoin is exactly on track with the forecast we made in our April letter. Our analysis was based on comparing the reduction in the supply/flow of bitcoin relative to the outstanding stock – at the time of each halving – and the subsequent impact on price.”

According to the projections set by Pantera, Bitcoin’s price lagged by as much as 15 weeks in July 2020. In December, Bitcoin began to catch up with Pantera’s projections and by mid-January, the leading cryptocurrency hit the ninth milestone in Pantera’s forecast after climbing to $38,000.

For the next date, February 15th, 2021, Pantera predicts Bitcoin will trade at $45,268.

Pantera makes its projections based on the Bitcoin halving cycle. Historically, Morehead says Bitcoin prices have surged after each halving, which happens every four years.

After the first halving in 2012, Bitcoin’s supply dwindled by a little over 15% in a span of 446 days as block rewards were halved from 50 to 25 BTC. Subsequently, Bitcoin witnessed a rally of 9,212%.

Following the 2016 halving, Bitcoin rallied by 2,910%.

If Bitcoin follows Pantera’s predicted trajectory, Morehead expects BTC to hit its peak in August 2021 with a price of $115,212, rising over 1,091% after the May 2020 halving.

“I’m not saying I’d bet our life savings that’s definitely going to happen, but I think it’s possible, and we’re right on pace to do that.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Check Latest News Headlines