Inshorts

Sberbank, the largest bank in the Russian Federation implemented a test, based on Hyperledger Fabric. The successful testing operation was facilitated by using the company's IT systems, in an application complex to allow users to track the rates. These technologies give opportunities to decreasing the banking process time before the actual transaction in real time. StElla KudAchkina, managing director of Sberbank CIB said: "The blockchain solution of Sberbank allows the first financial operation test with the help of IBM blockchain in Russia's banking history."

Blockchain technology, instead of the existing system in stock market commodities. Australian Securities Exchange (ASX) is going the be the first exchange in the world to integrate blockchain technology into its systems. The current system will leave its place to blockchain to provide faster and secure transactions, regarding this, the exchange plans to make partnership with Digital Asset (DA). Blythe Masters, CEO of DA said: ‘’Together, DA and our client ASX have shown that the technology not only works, but can meet the requirements of mission critical financial infrastructure.’’ This attempt shows that Australia will lead the traditional financial sector’s race to understand, experiment with and implement the technology.

National digital currency may appear in Ukraine. A petition, regarding creating the Ukrainian state cryptocurrency and conduct its ICO, appeared on the President of Ukraine’s official website, which was published in December 8, 2017. The author of this petition notes, that issuing a state-based cryptocurrency will lead attracting funds to the state budget in a new and innovative way, and will promote the business development on the global market. The petition proposes to develop legal norms for crypto markets and conduct an open, state-supported ICO. There are at least 25,000 signatures needed for the President of Ukraine to see this electronic message, until March 9, 2018.

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R3’s Corda is now available on the Amazon Web Services (AWS). According to the official blog site of R3, the company’s Corda DLT platform is available for AWS users to build and deploy applications for finance and commerce. Besides, it is also possible to use current CorDapps application of R3’s Corda. David E. Rutter, CEO of R3 remarked that this experience is a turning point for the company. Regarding this he said: ‘’Corda’s strength comes from its vibrant ecosystem of interoperable applications, and extending the pool of potential developers to the vast network of Amazon Web Services users will spark further innovation amongst businesses building innovative DLT apps for finance and commerce.’’ R3’s Corda platform removes costly friction in business transactions and ensuring high levels of security and privacy.

Exchange of cryptocurrencies will be easier. The Bank of America, American financial conglomerate were given a unique right regarding the system of automatic cryptocurrencies exchange, the US Patents and Trademarks Office informed about it. It is planned that the automatic exchange system mechanism will consist of several parts: user account and collection cryptocurrency exchange account. The new system will track illegal transactions. Illegal transactions will be indicated as with maximum risk index indicators.

The popularity of new cryptocurrency is growing. 45 famous performers, among them: Roger Walters, Alice Cooper, HIM, Judas Priest, Slayer, Marilyn Manson decided to sell their albums to fans for the Monero cryptocurrency. The project of selling albums for digital money was called Project Coral Reef. Navin Jane, the founder of this idea says, that the only obstacle to the wider distribution of digital currency is the underdeveloped infrastructure of cryptology. To solve this issue, the developers of the project agreed on cooperation with online shopping sites.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company.

Discussing the innovative technologies in Azerbaijan. Elman Rustamov, the chairman of the Central Bank of Azerbaijan clarified their attitude towards cryptocurrencies. He cited that the central bank will remain conservative regarding cryptocurrencies and for now does not recognize cryptocurrencies as a legitimate means of payment. Also the central bank intends to develop a legislative infrastructure before introducing the technology. Rustamov added: ‘’The Central Bank of Azerbaijan is looking for studying blockchain technology and its future use in the financial and banking sector and even in public services for the residents in future. Regarding this, we have already started negotiations with leading consulting companies. I think that at the first stage, we must create stable technological and legislative infrastructure, and then start introducing this technology.’’

Less energy consuming and more profit through green mining. Digital currency mining, which is very profitable today, however, requires high energy consumption. Owing to the necessity of eco-friendly, green mining, Cointed, an Austrian-based start-up and GPU manufacturer Nvidia made partnership. In this purpose, the performance of the hardware and GPU boxes has been optimized, the devices have been replaced by a cooler 'heat sink' instead of a fan, and the motherboards have been made more compatible with the other components to prevent overheating. It is planned that the cooperation will play an important role in reducing energy consumption use and increasing productivity.

Experts in the innovation field will discuss the digital development of the planet. The Blockchain and Mixed Reality Panel will be held on December 15, in NYC. The initiator of the event is the Arcona project, a blockhain-ecosystem augmented reality. The participants will discuss the impact of blockchain technology, the development and formation of a mixed reality and trends of the world by 2020. Among the speakers of the event: George Popescu, CEO and co-founder of the company engaged in smart development, Lampix; Dana Farbo, executive director of the Augmate Internet of things and James Haft, founder of the consulting company Pacific Alliance.