The Big Mistakes Enterprises Are Making on Blockchain

The Big Mistakes Enterprises Are Making on Blockchain

Arno Laeven is a strategy and innovation consultant at Laeven Consult, and the former blockchain lead for global healthcare giant Philips. In this CoinDesk opinion piece, Laeven takes aim at the way incumbents and large corporates have so far sought to implement blockchain, arguing that they need to think bigger to maximize the benefits of the technology. Let’s just get it out there: using blockchain in an enterprise environment is like trying to fit a square peg in a round hole. It’s no surprise then, that enterprise blockchain experiments have often resulted in strange and disappointing results. All of this is part of the growing pains of a new technology, one in which the first projects are run by enthusiasts and aren’t part of the discussion...

Swift Reveals Future Global Payment Tech – Blockchain Not Included

Swift Reveals Future Global Payment Tech – Blockchain Not Included

After months of testing, Swift, the interbank payments platform that connects 11,000 global banks, has formally launched the system it believes will be the future of its cross-border payments services. And notably absent was any integration with blockchain or distributed ledger technology. As part of the formal rollout, Swift (or the Society for Worldwide Interbank Financial Telecommunication) revealed that 12 of the world’s largest banks have been conducting real-time transactions via its Global Payments Innovation (GPI) project for some months. Although Swift plans to continue its experiments with blockchain for other applications, GPI program director Wim Raymaekers told CoinDesk that its cross-border payments solution demonstrates the efficiencies...

State Bank of India Launches New Blockchain Finance Consortium

India’s largest bank is spearheading a newly unveiled consortium focused on blockchain applications. According to local news outlets, the State Bank of India – which Fortune says held nearly $450bn in assets as of last year – is partnering with several technology firms and a group of domestic commercial banks on a new initiative dubbed ‘Bankchain’. IBM and Microsoft will reportedly be providing technical assistance for the group as it explores ways to leverage blockchain to reduce fraud and improve operational efficiency. IBM has previously announced partnerships with Indian companies focused on blockchain development. Primechain Technologies, a blockchain startup based in Mumbai, is also said to be working on the Bankchain project. Other institutions said to be...

Dubai Innovation Office Seeking Startups for $20k Blockchain Contest

Dubai’s government is on the hunt for startups to take part in a new blockchain contest, offering prizes of up to $20,000 for the winning projects. The competition, dubbed the SDO Blockchain Challenge, was announced late last month by the Smart Dubai Office (SDO), in conjunction with US-based startup incubator 1776. In a statement, SDO director general Dr Aisha Bin Bishr said her office hopes to use the contest to identify companies with solutions that could have an impact on Dubai’s plans for modernization. She said of the initiative: “Our partnership with 1776 on the Blockchain Challenge allows us to identify strong startup partners and innovative thinkers who can bring to market cutting-edge solutions that will deliver the future city our stakeholders want and...

Arizona’s Proposed Blockchain Gun Tracking Ban Pushes Ahead

An effort by Arizona lawmakers to prohibit the tracking of guns using blockchain technology has now progressed to the Senate. As CoinDesk reported earlier this month, a proposed new bill would prevent the use distributed ledgers in firearm tracking, with the exception of law-enforcement applications. The concept, put forward by technologists in the blockchain space, is that such a system could create an immutable history of transactions that records every time a gun is fired, for example. The proposed bill, HB 2216, has now cleared the Arizona House of Representatives by a 34-25 vote, with one no-vote and no abstentions, and has since moved to the Senate, where it awaits further consideration. While the Senate is a separate legislative entity, its makeup – with a...