Blockchain Weekly Recap 5-28-2016

Blockchain Weekly Recap 5-28-2016


Post Office Examining Blockchain Uses

As businesses and governments around the world continue to consider how the blockchain might benefit them, even the United States Postal Service (USPS) seems to be developing an interest in the world’s most attention-eliciting technology. USPS apparently sanctioned a Swiss Economics report called Blockchain Technology: Possibilities for the U.S. Postal Service which identified several areas of postal operations that could benefit from the use of distributed ledger technology.

According to the report’s authors, blockchain technology could conceivably provide the postal service with better management of its supply chain, improved identity management, more efficient financial services, and enhanced device management. Finally, the report concluded that the USPS might also benefit from the creation of a Postcoin digital currency that it could use to enhance its current money exchange product.

Tech Bureau and NEM Partnership to Develop Catapult Blockchain

Recent announcements revealed that Osaka-based Tech Bureau Corp, and the open source NEM project are partnering in the development of a Mijin-augmented blockchain engine they are calling Catapult. The private blockchain Mijin was previously developed by NEM developers in cooperation with Tech Bureau, and has been shown capable of managing transaction throughputs as high as 4 digits each second. It has already been tested by at least one bank and shown to be effective for bank ledger operations.

Until now, Catapult had been developed in secret. It reportedly offers an improved core and a restructured architecture that offers the additional security needed for application in the financial services sector. It has also been designed to offer greater flexibility, stability, and overall performance than Mijin.

Goldman Sachs Praises Blockchain Benefits for Airbnb and Others

A team from Goldman Sachs recently released a note documenting their current assessment of blockchain technology and its potential impact on a number of different companies. According to the published views, the team reportedly believes that the distributed ledger’s ability to provide more integrity for Airbnb transactions and reviews could provide a host of benefits to the service due to the blockchain’s improved authentication capabilities.

In addition, the assessment looked at the technology’s impact on a variety of industries and concerns, noting that it could positively impact the electricity markets, P2P lodging services, title insurance, securities cash settlements, and more.

Congressional Reps Briefed on Blockchain

The Chamber of Digital Commerce this week held a blockchain roundtable in the U.S. capital that brought together at least fifteen members of Congress and a group of blockchain representatives from companies like ConsenSys, Bloq. Representatives from Microsoft and Deloitte also attended the gathering, which was advertised as an opportunity to educate lawmakers and others, advocate for distributed ledger technology, and discuss common concerns.

Notable representatives in attendance at the roundtable included long-time blockchain supporters David Schweikert (R-AZ) and Mick Mulvaney (R-SC). Attendees not only heard from industry experts, but also had an opportunity to share ideas ranging from law enforcement issues to new applications for the technology.

Bitmain Tech to Fund ChainLab’s Winds Platform Development

ChainLab announced late this week that it is receiving seed money from Bitmain Technology that it will use to accelerate the creation of the Wings platform it will use for its DAOs. The funding amount was not disclosed, but Bitmain’s reason for the investment was made clear by the company’s co-founder, Jihan Wu, who noted that his firm looks forward to “seeing Wings grows into a successful platform for launching DAOs over Rootstock and Ethereum, being an accelerator for the innovation on the public Blockchain.”

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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