Blockchain This Week – From Digital Arts to Interoperable Blockchains

“I can’t breathe” is more than just words even in crypto space – Osinashi, a Nigerian crypto-artist, sold his “I Can’t Breathe” artwork on a blockchain-based digital art marketplace SuperRare for 7 ETH. This art piece is a grim reminder of the many brutalities happening in the world in the form of racism. Osinashi pledges some of the proceeds from the sale to the Black Lives Matter movement.

Interconnecting the chains – Alibaba, the Chinese e-commerce giant, has been granted a patent by the U.S. Patents Office for the Unified Domain Name scheme. Alibaba says, in this scheme, blockchains or applications running on a blockchain will be assigned a unique domain name. These names are like the DNS names for websites on the Internet. As per Alibaba, these names help in simplifying the communication between blockchains.

Bitcoin raises above the $10000 mark – Amidst the unrest in the U.S., bitcoin price rose to $10,429 at the end of the day, June 1. After wheeling around the $8000 mark for over a month, the price finally breached the $10,000 mark.

Bringing standards to a decentralized world – Today, companies are looking beyond trying to fit all their needs into a single blockchain platform. Instead, they are exploring the potential of interoperable blockchains, where each blockchain caters to a unique purpose. InterWorks Alliance, a nonprofit group, aims to aid blockchain interoperability. This group, which was launched on Tuesday, has 28 companies, including Microsoft and Nasdaq. They plan to work on standards for tokens and smart contracts.

A free-trade port built on Blockchain – Chinese authorities have released a plan to turn Hainan, one of their provinces, into a free-trade port. This plan, backed by blockchain, will enable free trade with cross-border capital flow.

“Crypto Mom” Part two – Hester Peirce, one of the five commissioners in the U.S. Securities and Exchange Commission (SEC), has been nominated to serve a second term at the commission. Peirce, popularly known as “Crypto Mom,” is a strong supporter of crypto companies. 

A database full of blockchain vulnerabilities – Chinese Internet Response Team, CERT, holds a national database of security issues. Now it has added blockchain security issues into this database. As per CERT, studying these issues, is vital for the safe and orderly development of Blockchain. 

Swiss bank to operate crypto – InCore, a Swiss local bank, has gained approval from the country’s regulatory body for digital assets operations. Customers of InCore can now transact their crypto assets with the bank. The bank also plans to provide brokerage, custody, and transfer services in the future.

Cash(Crypto)back with every purchase of Nike shoes – A London-based startup Plutus is rewarding with 3% crypto and 9% cash back for every online purchase of Nike shoes bought using the Plutus Visa card. However enticing this may seem, the rewards are only for purchases done in Euros and British Pounds.

Blockchain for a cup of tea? – Yunnan, a Chinese province, has started tracking their tea produce on Blockchain. Tea yields from the 42000 hectares of farmland across the province will be available on this platform. Consumers can get reliable information about the tea they are drinking by just scanning a QR code.

Food on Blockchain – EoS backed Blockchain platform Telos is working with All_ebt to enhance the latter’s food assistance program. All_ebt allows beneficiaries to spend their food stamps on online purchases. Telos Blockchain will serve as a verifiable source of All_ebt transactions, for the users, the merchants, and the government.

Crypto sale for renewable energy – The French regulator has approved WPO’s token sale under its ICO Visa scheme. WPO is a green energy provider and aims to use its token – GreenToken – to optimize the production of renewable energy. ICO Visas allow companies to use the crypto funding platform for raising funds for the ventures. At the same time, these companies should make the token sales information along with the risks clear to the sale participants.

Blockchain-powered batteries – Homes and businesses today are becoming producers of electricity. They either consume this electricity or feed it back to the grid. They can use Equigy, a blockchain platform, to manage their home batteries. They can even buy and sell the electricity on this platform. Recently, Equigy expanded its reach to Europe when three major European electric grid operators hopped on to this platform.

Oil and Gas pilot with Blockchain – The OOC consortium says that they have successfully completed their Blockchain pilot. They use Blockchain to manage the water extracted and injected during the oil and gas extraction. According to the group, the process, which usually takes 120 days, was cut to a week, because of Blockchain.

And finally, stealing from the thief? – A hacker who stole about 7200 passwords from a dark web hosting provider has now leaked the sensitive data online. This breach had brought down a third of the dark web.

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