In August of 2019, both the United States and Thailand announced their plans to test blockchain applications for tracking and managing shipments. The U.S. Customs and Border Protection (CBP) is planning to test a blockchain application against their current system to determine how distributed ledger technology (DLT) can improve its existing processes. Thailand, on the other hand, plans to use IBM’s blockchain-based logistics platform Tradelens to improve customs processes such as data sharing. Originally developed in a joint venture between IBM and logistics giant Maersk, Tradelens seeks to streamline processes in the global shipping industry by making the flow of …

Peter Wuffli, the former CEO of Switzerland’s largest bank UBS and director at Swiss crypto bank Sygnum, wants to tap the “$220 billion market of institutions and private individuals who already own cryptocurrencies.” Local news outlet SwissInfo reported on Sept. 26 that Wuffli has shown excitement concerning the potential of crypto assets. In an interview, he told the outlet: “The most immediate opportunity is the existing $220 billion market of institutions and private individuals who already own cryptocurrencies. Thousands of clients have contacted us for a one-stop-shop for asset custody, loans and trading cryptocurrencies seamlessly with fiat currencies.” Asset tokenization …

Enterprise-grade distributed ledger platform Hedera Hashgraph announced the launch of the public Open Access (OA) to its mainnet beta. According to Hedera’s blog post published on Sept. 16, during the OA period, anyone from the general public can create an account while developers can start building decentralized applications, also known as DApps, on the platform. The post continues: “With hundreds of developers already building on the network over the last few months during its closed beta, the Hedera mainnet launches with 26 DApps and solutions now running live. [...] With Open Access, the Hedera Hashgraph network offers three services: 1) …

Blockchain tracking startup TruTrace Technologies Inc. has partnered with "Big Four" auditing firm Deloitte to track cannabis using blockchain technology. Investing news outlet ProactiveInvestors reported on Sept. 4 that TruTrace is launching its StrainSecure product in partnership with Deloitte. The system employs blockchain technology to track cannabis from seed to sale, in order to guarantee that customers and retailers know the history of the product. TruTrace CEO Robert Galarza said that the new system will bring more transparency to the cannabis industry. The partnership with Deloitte will purportedly help the product reach a wider base of stakeholders since the firm …

Tech Mahindra, the IT subsidiary of Indian conglomerate Mahindra Group, partnered with American distributed ledger technology (DLT) firm Adjoint to launch a blockchain financial management and insurance solution. Telecommunications industry news outlet CommsMEA reported on Sept. 2 that the solution is the first of its kind. With this service, clients will reportedly be able to save $4 million for every $1 billion of financial risk management and banking relationships. Auditable data recording Per the report, users of the new system will be able to validate the business case with their own data in their own secure environment and help eliminate …

California-based blockchain development firm Baton Systems has closed a $12 million Series A funding round led by Trinity Ventures. According to a Ledger Insights report published Sept. 2, the new funding will be used to scale Baton Systems’ blockchain-powered bank-to-bank payment solution. Interoperability with legacy systems Baton Systems has reported that it already processes over $13 billion in payments implementing its solution for market participants and clearinghouse counterparties. The firm’s blockchain platform is designed to be interoperable with legacy systems and doesn’t require clients to overhaul their existing business systems. As Baton Systems outlined in a statement: “The Baton platform …

Distributed ledger technology (DLT) company Iota has partnered with auto manufacturer Jaguar Land Rover for a proof-of-concept (PoC) demonstration for tracing car energy with DLT. Tracking energy source and usage Iota announced the news in an official blog post on Aug. 30. Per the announcement, Iota is partnering with Jaguar Land Rover and French energy R&D center Engie Lab Crigen for the demonstration. The demonstration aims to show the public both the source and use of a Jaguar I-Pace’s energy at the Trondheim Powerhouse, the building whose inauguration forms the background for the proof-of-concept. Russell Vickers, the manager of Jaguar …

Hedera Hashgraph, a distributed ledger technology (DLT) platform, announced that it will offer open access to its mainnet beta starting Sept. 16. According to Hedera Hashgraph’s official blog post published on Aug. 29, the open access beta test will be a period of free public access, during which developers will be able to build decentralized applications, also known as DApps, on the platform. Open access beta features Hedera’s network will reportedly offer three services during the beta testing period: cryptocurrency, smart contracts and file services. It is noted that crypto transactions will be capped at 10,000 per second while file …

The Kerala Blockchain Academy (KBA), a government initiative under the Indian Institute of Information Technology and Management, is now a general partner of R3. Local news outlet The Economic Times reported on Aug. 27 that New York-based enterprise blockchain firm R3 chose the KBA as a general partner. According to the article’s author, the academy already designed a developer certification program on the firm’s Corda blockchain, meant for banking and technology professionals. Governmental blockchain education Per the report, KBA is the first government institution in India which offers a Corda blockchain development program. Moreover, the initiative also provides in-person training …

The World Bank announced on Aug. 16 that it raised an additional A$50 million (over $33 million) for its Kangaroo bond due August 2020, using a blockchain. The bank claims that this is the first bond which has been created, allocated, transferred and managed through its life cycle using distributed ledger technology (DLT). Major banks join World Bank’s Bond-i blockchain platform Per the report, the initiative expands the World Bank’s Bond-i blockchain platform combining three joint lead managers, Commonwealth Bank of Australia (CBA), RBC Capital Markets and TD Securities (TD). The initiative has seen the participation of new market participants, …

Fully collateralized crypto-to-crypto lending platform Lendingblock has received a distributed ledger technology (DLT) provider license from Gibraltar Financial Services Commission (GFSC), reports Crowdfund Insider on Aug. 15. The accreditation brings the institution-focused platform one step closer to launch. The GFSC awarded an in-principle DLT provider license in late 2018. New capital lending model for digital assets Providing collateralized lending and borrowing reportedly allows Lendingblock to support short-term trading, hedging and working capital needs. This mirrors traditional financial markets, which the company aims to reinvent with a better model to service the digital asset lending market. To this end, it recently …

Leading Latin America investment bank BTG Pactual joined the organizing committee of the Post-Trade Distributed Ledger (PTDL) Group. Alliance for blockchain use Industry news outlet LedgerInsights reported on Aug. 15 that Brazil-based bank BTG Pactual joined PTDL Group’s organizing committee. PTDL Group reportedly provides a platform allowing market participants to share information on blockchain and discuss applications in the financial services sector. According to its official website, PTDL Group includes nearly 40 financial institutions and prominent market infrastructure players. The organization also claims that it is playing a role in shaping the recommendations of regulators. Namely: “Practitioners, regulators, and central …