Inshorts

The US borders are entrusted to the blockchain. The US Borders and Customs Protection (CBP), launched a blockchain research for learning the possible usage fields of blockchain technology. For this reason, Commercial Operations of Customs and Border Protection (COAC), a special organ was created. The aim of the group is studying innovative technologies in general, especially how blockchain. In the report of the CBP, where this information was announced, it is also said: "The new body has already submitted 14 options for the use of innovative technologies. Among them: data collection and tracking of licenses, permits, certificates issued by state bodies, the quality of products that are subject to free trade and their movement across the border".

Blockchain technology become more needed in data protection field. Fourteen European insurance providers have partnered with Stratumn and Deloitte, and launched a successful blockchain project test. It aims at creating a simple insurance and consumer credit system that takes into account the requirements of the European Union, General Data Protection Regulation (GDPR). It will also conduct processing of these consumers in accordance with the norms of the European Union's General Data Protection Regulations. Co-owner and CEO Stratumn, Richard Caetano said: "We are convinced that this technology, combined with innovative methods of cryptography, will help simplify the work processes in the interests of all parties involved."

Blockchain-based, secure ID cards in Canada. Secure and low-cost identification is difficult to find for the governments of many countries. It is planned that in 2018, a Canadian startup SecureKey launches a blockchain-based platform, allowing the user to confirm the identity the websites of banks, government agencies and mobile operators. The consumer may share its information with desired institution through the private key. To use this platform, it will be enough only to have a mobile phone, or a device with a Windows operating system. The head of SecureKey, Greg Wolfond, noted that this system is designed to make identification secure and protect it from hacker attacks: "With our system it will be easier for me to prove that I am myself. And it is almost impossible for an intruder to gain access to my personal data."

Waiting a boom in bitcoin derivatives. LedgerX, a trading platform has launched the first long-term bitcoin asset. The trade is already started and will continue till December 28, 2018. According to the terms, the buyer will have the right to buy bitcoin at a price of $10,000 and this is almost 30% higher than its present value. Despite this, already two investors immediately announced their readiness to conclude a deal in the first days of the option. Paul Chou, CEO of LedgerX said: “This is the first such initiative of the crypto community, but it shows that investors and traders are closely monitoring the prospects for growth of bitcoin in the next couple of years.”

Governmental development program of innovative developments in Japan. In January 2018, the international business camp, Blockchain Business Camp Tokyo will start. The aim of the camp is to become an accelerator for new start-ups and help to create an enabling environment for the development of international business. Acceptance of applications for participation in the program will last until November 24, 2017. It is planned that training will be conducted within three months. Throughout this period, participants, thanks to the help of mentors, will receive not only new knowledge and opportunities, but also get acquainted with potential partners and investors. Among the mentors of the program: representatives of financial firms, banking, logistics and finance companies.

International business with the help of smart-contracts. On November 21, the ICO of the TFTM.PRO project started. Its main task is to simplify, accelerate and improve international money transfers with the help of blockchain technology. The project has issued a new TFTM COIN cryptocurrency with additional protection: information about transactions is available only to the sender and receiver of the currency, and cash transactions are handled by the members of the TFTM community themselves. Developers report, that the platform's performance is 150.000 financial operations per second. There is also an award for joining the system, that 0.4% for each transfer. It is planned, that in the near future there will be a release of smart cards for the project, so people can pay for services and purchases in stores, customers will have the opportunity to exchange fiat money for cryptocurrency, also TFTM will be introduced into the SWIFT system and will receive bank protection like a currency.

Cross-blockchain payment technology to facilitate transactions. Japanese technology giant Fujitsu, has announced its new payment technology ConnectionChain and the project’s goal is providing a way for two cryptocurrency networks to interoperate. It is planned that thanks to this cross-platform, transparency and control of transactions between the blockchains will be ensured. As described on the product description; ‘’The extension of smart contract technology which inter-connects multiple blockchains by recording the series of related transactions on each chain in a dedicated blockchain, or a "connection-type chain," to link to the currency exchange into a single transaction process that can be automatically executed.’’

Blockchain technology development for secure storage of asset ownership. Nasdaq, American stock exchange, has filed patent application to the US Patent and Trademark Office (USPTO) for blockchain-system that provides control and safe storage of information regarding the ownership of assets. It is reported that blockchain technology will be used to owners of register asset who, through a special digital wallet, will be able to access the assets. Regarding to this, Nasdaq indicated: ‘’While distributed ledger technologies, such as Blockchain, show great potential, further improvements in the performance, efficiency, and capabilities of such technologies are needed’’.

Record bitcoin price in Zimbabwe. Now almost $14 thousand are being asked for bitcoin in the country, and it is almost 2 times more than its price set on the world market. According to experts, the reason of sharp rise in the rate is the instability in the country, the difficulties with international payments with fiat money and the increased demand for cryptocurrency. "Bitcoin grew up in Zimbabwe primarily because it is mainly used for transactions, not in the local market, but for making money transfers. Many Zimbabweans work abroad and send money home exactly in this currency"- says Lorenzo Fioramonti, Professor of Political Economy of the University of Pretoria.