After years of being dismissed as a “slow technology,” and illegal money transfer mechanism, the general outlook for the blockchain and industry is largely positive in 2018. While the rising interest can be attributed to financial institutions, governments, and regulatory authorities displaying their intentions to adopt the decentralized technology, ‘core’ industries deserve much credit, as they are readily testing and implementing the over their existing framework.
Blockchain Swiftly Gaining Relevance
According to a in South Korea’s Yonhap News, the IT subsidiary of electronics giant , called , is all set to launch its native, privately built blockchain; “Monachain.”
Described as an enterprise-only blockchain platform, Monachain would find use in a plethora of industries, such as finance, telecommunications, manufacturing, and public administration. Furthermore, the private blockchain will have three salient functions – digital certification, digital community currency, and digital supply chain management.
As per the report, the digital certificate serves to verify a user’s identity using personal or biometric information, using a personal identification number (PIN) of a personal portable device or a fingerprint respectively. Another advantage is that the certificate can be linked with other systems by applying international standard DID (Distributed Identification) technology.
Speaking about the digital certificate system, LG CNS said:
“When we pay for medical expenses at the hospital using the digital certificate of Monachain, we will be automatically billed for the insurance claim. Related information is quickly shared with insurers and hospitals. “
Second, the aptly-termed “digital community currency” works towards ensuring timely distribution of welfare benefits and local currency issuances from the government. However, LG CNS made clear that it only provides community platform to banks, and not be responsible for the actual distribution or issuances. However, LG CNS said that it “is preparing a community banking business with commercial banks.”
Finally, the Digital Supply Chain Management function handles integral functions of an industry’s supply chain, from product production to customer delivery to each stakeholder. Using the blockchain, industries can shorten production time, maintain proper inventory, and minimize transportation errors.
(Source: News)
LG a Blockchain Believer
LG CNS has previously released many products utilizing the blockchain and is indeed not a newbie in the area.
In April 2018, LG CNS a full member of the Open Blockchain Industry Association (OBCIA), and looking forward to joining by July 2018. An open-source blockchain project, Hyperledger focuses on sectors like supply chain, technology, banking and finance, and manufacturing. The Linux Foundation launched the platform in 2015, and counts industry heavyweights like IBM, Daimler, JPMorgan, and Airbus amongst its members.
LG CNS was also responsible for one of the world’s earlier large-scale blockchain implementations. In 2015 the company electronic stocks of unlisted companies unregistered at Korea Securities Depository Services via Korea’s first blockchain based platform.
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May 12, 2018 – St. Julians, Malta. The inaugural edition of the Malta Blockchain Summit promises to be a seminal event on the Blockchain and DLT calendar, and it has just received a boost with a newly-minted partnership with , a community known for bringing their signature style to the events they work with, and , one of the world’s leading ICO rating platforms.
CryptoFriends will bring the power of their established track record of holding blockchain events by hosting the Malta Blockchain Summit’s Hackathon and ICO pitching contest. The CryptoFriends partnership means both these initiatives will be imbued with the freshness and dynamism that has been their calling card for the past year.
At the pitching contest, exciting blockchain startups from around the globe will compete in front of a live audience and a panel of some of the smartest investors in the business including Tuce Ergul, Daniel Shashoua, and Carlos Domingo. Meanwhile, the Hackathon will see 60 developers, organized in 12 teams, battle it out to develop a completely new and unique blockchain solution in just one day.
CryptoFriends co-founder and CEO, Daria Arefieva, comments, “We are extremely delighted to partner with ICObench and the Malta Blockchain Summit. CryptoFriends is all about building smart connections in the crypto space, and we are looking forward to bringing our passion, expertise and unique twist on blockchain events to Malta. Thanks to its progressive and positive attitude towards blockchain technology and sensible industry regulation, Malta is fast becoming one of the leading nations for blockchain in Europe, if not the world. Together we are calling on the brightest and the best blockchain startups to come and pitch their ICOs in a country that is truly embracing their amazing vision and innovation.”
In addition to supporting the Malta Blockchain Summit in November, CryptoFriends and ICObench are offering even more opportunities for ICOs to go big in Malta. They will be holding a series of monthly, exclusive Crypto iGathering parties on the Mediterranean island throughout this summer. Each event will take place in a different, stunning venue and will feature ICO pitches and a panel discussion with top investors and personalities from the blockchain industry, including Eman Pulis, Founder & CEO of SIGMA.
The current schedule of events includes:
June 16: Crypto iGathering CryptoFriends Birthday pool party at Hugo’s Boutique Hotel, featuring an exhibition and art sale by digital art platform, ,
August 24: Crypto iGathering party at the Barracuda Restaurant,
September 21: Crypto iGathering party at the Sheer Bastion.
To celebrate the partnership, CryptoFriends and ICObench have launched a special promotion on ICObench.com. For a limited time, ICOs can purchase valuable premium listings on the site that also include a pitching slot for their team at upcoming events, a booth at the Malta Blockchain Summit, inclusion in promotional materials and travel and accommodation in Malta. Packages start at 3 BTC and are available now at .
The Malta Blockchain Summit will include a number of featured conferences, headlined by elite speakers from all over the globe. Each conference will focus on the significance of Blockchain for various sectors that stand to be disrupted by this emerging technology.
Considering Malta’s leading position on regulation, its confirmed commitment to being the first global center for blockchain and crypto businesses, and the CryptoFriends partnership, the Malta Blockchain Summit promises to be ideally positioned for maximum effect.
Peruse the floor plan to this event and check further opportunities when you visit .
Early bird tickets are already live; it’s worth booking early to avoid disappointment.
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