Home / Blockchain / Cabinet Approves the MoU of the Exim Bank on Blockchain and more

Cabinet Approves the MoU of the Exim Bank on Blockchain and more

Pune's startup policy could emphasize on blockchain, AI startups to drive state growth

IBM joins Hacera as a founding partner of Unbound Registry, a blockchain-based business directory

Governments of Switzerland and Israel agree to exchange regulatory notes solutions based on blockchain

Blockchain is the new blockbuster technology that has captured the fantasy of the world. The technology of distributed accounting books, popularized with the introduction of Bitcoin in 2009, is slowly taking hold in India and is used for everything from issuing birth certificates to monitoring fraud. In an innovative use case, the police department in Andhra Pradesh used the blockchain to approve Ganesh pandals (marquee) for the recent Ganesh Chaturthi festival.

In addition, new research has identified six ways in which blockchain can be used to address some of the most pressing environmental challenges: climate change, biodiversity and conservation, oceans health, water security, clean air, water and the ability to recover disasters.

"The challenge for innovators, investors and governments is to identify and scale these pioneering innovations for both people and the planet – also making central sustainability considerations for the broader development and use of blockchain", the study, led by the World Economic Forum (WEF) in collaboration with the audit giant PricewaterhouseCoopers (PwC), said.

The report noted that the potential of blockchain in solving environmental challenges can be amplified exponentially n is combined with other emerging technologies such as artificial intelligence (AI), the Internet of Things (IoT ), drones, 3D printing, biotechnologies, etc.

Here is a review of important and related developments on the blockchain ecosystem in India and in the world [September 12-18].

Let's have a look at the block this week!

Important developments in the Indian Blockchain ecosystem

The Cabinet approves the MoU of the Exim Bank On Blockchain

The cabinet of the Union, chaired by Prime Minister Narendra Modi, has given its approval ex post a protocol of understanding between Exim Bank and participating member banks within the BRICS inter-bank cooperation mechanism on collaborative research on blockchain technology in the context of the development of the digital economy .

According to ANI the MoU intends to improve the understanding of the blockchain through joint research efforts for identify the areas within their respective commercial operations, where it could have the potential for applications aimed at improving operational efficiency.

Xiamen's statement on the digital economy signed by the BRICS leaders at the 9th BRICS summit highlighted the importance of the digital economy. As a result, it was suggested that the agreement be signed by all affiliated banks.

Andhra Pradesh police used Blockchain to give the pandals to Ganesh

In the recent Ganesh Chaturthi festival, Andhra Pradesh's police department used blockchain technology to make room for over 40,000 Ganesh pandas throughout the state. The police implemented a blockchain-based single window system, developed by a startup based on the city Zebi Data India, for the purpose.

According to Hindu report, once online pandal requests were recorded on the blockchain Zebi, the police were internally coordinated with other departments such as the departments of the electricity and fire and the civic agency to evaluate the application. After successful registration, a unique QR code was generated to obtain details such as geolocation and IDol. The applicants were then informed of online approval via mobile OTP verification.

Zebi Data India previously helped the Andhra Police Department integrate hotel guest data using blockchain and artificial intelligence . Over 200 hotels in Vizag are connected to it. Zebi has also integrated Amaravati soil records with Zebi Al Chain.

Pune Startup Policy can emphasize Blockchain, AI Startups

Pune is about to rejuvenate its startup policy and may place more emphasis on blockchain and artificial intelligence critical startups, said a senior official government.

"The startup landscape is changing at a very fast pace.When it was developed, there was nothing about artificial intelligence or blockchain technology.These are the growth drivers for startups We are about to rejuvenate the state boot policy, " Manojit Bose, responsible for the knowledge of Pune Smart City Development Corporation, said.

Bose responded to an interview with Hindustan Times on "Why does Pune need a special policy since there is already one for the state?"

"What was announced earlier was a draft policy launch … what really happened with the policy was that the government announced some sweetener for the incubation centers, but unfortunately we did not get a good answer There were not enough bidders, however, now we are looking at things from scratch, "Bose said.

Blockchain Developments From Around The World

IBM, Hacera launches "Yellow Pages" on Blockchain

Technology company IBM announced an alliance with the US enterprise blockchain company Hacera as founding partner of Unbound Registry, an organized list of companies based on blockchain technology – a sort of modern Yellow Pages.

According to a recent post by IBM Jerry Cuomo, vice president of blockchain technologies, Hacera Unbound Registry offers a decentralized means of recording, searching, joining and transiting through a variety of blockchain solutions, built to interact with all the most widespread modern day accounting technologies. [19659002] "Unbounded offers these network solutions the ability to be in the yellow pages of blockchain and to be publicly visible," said Cuomo. Hacera is one of the first members of the IBM blockchain ecosystem since 2016 .

Switzerland, Israel agree to regulate the exchange of banknotes on blockchain

The governments of Switzerland and Israel have both agreed to exchange the notes on regulation solutions of blockchain in their respective countries

Joerg Gasser, the Secretary of State Swiss for International Financial Matters,
said he was preparing a report on how to regulate the blockchain and would make recommendations by the end of the year, Reuters

Switzerland has called on Israel to open up its markets so that Swiss banks can trade there, according to a media report. Israel allows market access to EU banks, but not to Switzerland as it is not a country of the EU and has different regulations from the countries of the block.

LG Uplus, Samsung to adopt Blockchain in South Korea

South The mobile carrier LG Uplus plans to start an experimentation to allow its subscribers to carry out transactions from one carrier to another , using a cross-carrier blockchain platform called a cross-carrier payment system (CCPS).

Once the service is launched, LG Uplus subscribers will be able to buy things from select resellers using their mobile phones when traveling to Taiwan and Japan, according to the Korea Times report.

In another development, Samsung ITS of Seoul announced that it would build a Nexledger, a blockchain-based export logistics platform for the Korean customs service, according to the company's CEO, Won -Pyo Hong.

[Stay tuned for the next edition of Blockchain This Week]

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