At a time when there is a dark cloud over the cryptocurrency space like a net result of market conditions, infighting and the threat of regulatory action by the United States SEC, blockchain technology is still showing the world that its disruptive capacity is more than just potential. A recent series of events in Thailand underscores the growing importance and influence of blockchain use cases outside of cryptocurrency.
The Data61 arm of the Commonwealth Scientific and Industrial Research Organization (CSIRO), in partnership with the Commonwealth Bank of Australia (CBA), has successfully trialed what they are calling a new “smart money” aimed at Australia’s health and welfare sector.
Away from its much-publicized usage as the basis for cryptocurrencies, which has generated the bulk of its coverage in European public discourse, blockchain technology is increasingly becoming an influential part of supply chain processes across the EU. An article from the EU’s official news website published on November 12, 2018, examines the impact of Blockchain technology as a disruptive influence in Transport following its rapidly growing corporate adoption.
Japanese utility Kansai Electric Power Co., which operates in Japan’s second-largest industrial region, incorporating the cities of Kyoto, Kobe, and Osaka, has announced another blockchain project just six months after unveiling a collaboration with Australian company Power ledger, Greentech Media reported on November 1, 2018.
The small Baltic country of Estonia may be blazing a trail for the world to follow in terms of creating a framework for promoting the use of renewable energy.
Already famed for being one of the world’s most extensive blockchain adopters, Wired reports on October 25 2018, that the country is now the host to a company that uses blockchain technology to connect Estonian consumers to renewable energy sources by making energy markets more efficient.
In the wake of increasing concerns about the effect, cryptocurrency mining has on the environment, a math teacher in Iceland has come up with a way to solve the problem by using farmers’ excess geothermal energy, Wired reported on October 22, 2018.
Rwanda is turning to blockchain technology to disrupt the supply of conflict metal tantalum. To help the accomplish the objective, the country’s government has teamed up with Circulor, a U.K.-based blockchain firm specializing in smart contracts.
Kenya’s government is looking into using blockchain technology to deal with allocation and fund management of a state-sponsored affordable housing project, Keynan news outlet the Star reported on October 15, 2018.
EDDITS and Singapore-based Touché have partnered in order to develop a new solution that would significantly simplify in-store cryptocurrency transactions.
Crypto hedge fund launches seem to be spiking to an all-time high, with an October 10 release from Crypto Fund Research reporting that 90 cryptocurrency hedge funds launched in the first three quarters of 2018, on track for 120 for the fiscal year.