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How Temco Transforms Supply Chains for Consumers

Supply chain management is proving to be one of the killer apps in blockchain. Many big companies have already started to implement distributed ledger technologies, so they can gain better visibility of their supply chains and product inventories. Walmart and Maersk are two examples of firms that have made the transition in 2018. Both companies have partnered with IBM for customized supply chain distributed ledger platforms. Together with their supply networks, these solutions allow them to establish a single source of truth that describes which goods are where, and with whom – all in real time.

However, these are early iterations of the technology. While they may offer business benefits such as reducing product shrinkage, customized permissioned ledgers have some disadvantages. They are private blockchains, meaning they miss the benefits of trustlessness provided by a genuinely decentralized blockchain ecosystem.

Furthermore, from a consumer standpoint, there is almost no benefit. Companies using private blockchains can still cover their supply chain tracks in the event of a safety scandal such as the recently reported Johnson & Johnson Baby Powder asbestos cover-up. The same applies if they are sourcing goods unsustainably or using unethical suppliers, as has been found in the case of many apparel retailers.

Meet Temco

There is a new revolutionary new supply chain management solution that can solve consumer visibility and decentralization problems. Temco is launching an application that provides full end-to-end visibility of a products supply chain lifecycle which consumers can use too, and it’s based on the Bitcoin blockchain.

Temco uses smart contracts together with smart tags to track and trace a product from its beginning, all the way through until it’s finally delivered to the end consumer. Each participant in the supply chain can access the Temco platform using a simple app interface.

Temco in Action

Firstly, everyone except for the consumer will need to undergo a verification process initiated by Temco. Once verified, they can then start to participate in the supply chain process.

The platform is targeted at SMEs, so let’s imagine an online retailer that’s selling tea and coffee. The retailer is keen to give assurance that its products are sustainably and ethically sourced. To demonstrate this to consumers, the retailer, its fair-trade coffee supplier, and the shipping company all get verified as vendors on the Temco platform.

When the supplier has coffee beans to ship, they print off a QR code generated by the Temco app and attach it to the box of coffee beans. The shipping company scans the QR code using their Temco app, which triggers a smart contract transferring ownership of the coffee to the shipper. The retailer scans the QR code once they receive their shipment, confirming receipt.

When a consumer makes an order, the retailer can add another QR code to a single bag of coffee and ship it to the consumer informing them that the shipment was tracked using Temco. The consumer can download the app, scan the QR code and see for themselves the entire journey of their coffee. They can even leave a review of their experience so other users can see for themselves that a retailer’s supply chain network is verified and trustworthy.

Besides the consumer benefits, participants can also reduce the risk of product loss or theft during the shipping process because they can see in real-time where their shipments are located. Temco is also including temperature tracking technology integrated with IoT sensors, meaning that even perishable products are traceable. Vendors can also take advantage of the platforms data analytics to identify opportunities for improvement in supply chain efficiencies.

RSK Smart Contract Platform – Powered by Bitcoin

By itself, Bitcoin doesn’t offer the same smart contract functionality as distributed application (DApp) platforms like Ethereum or EOS. However, RSK has now changed all that. RSK was developed by a company called Rootstock. It’s a smart contract layer, with a main net that was launched in January 2018 as a side chain of the Bitcoin blockchain.

RSK has its own coin called Smart Bitcoin (SBTC) which is pegged to BTC. The Bitcoin blockchain can’t verify transactions on a side chain, so when a transaction happens, BTC is locked on the Bitcoin blockchain, and a corresponding amount of SBTC is released on the RSK sidechain.

Using RSK, developers can build smart contracts and applications using Solidity, the same programming language as Ethereum. While Bitcoin has come under fire for being slow with seven transactions per second, RSK can scale to more than fourteen times faster, around the same speed as the PayPal network.

Temco selected RSK as its development platform precisely because Bitcoin is the oldest, most reliable and most trusted blockchain network. It comes with a supportive community, and the introduction of Turing complete smart contracts provides scope for significant further growth. Using RSK means that Temco’s platform offers the full benefits of decentralization achieved by the Bitcoin blockchain.

Next Steps

The Temco platform is currently under development. A beta release, plus a business model for the luxury goods market are planned for 2019. The first round of the Temco token presale sold out in only two seconds, indicating the participated investors had a lot of faith in the need for a consumer-driven supply chain platform. Temco will be one of the projects to watch in 2019.

For more information, visit the Temco website or download the white paper.

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Blockchain startup creates a decentralized ‘Pirate Bay’ alternative

Blockchain startup creates a decentralized ‘Pirate Bay’ alternative

Cryptocurrency startup wants to build a decentralized and searchable torrent database that’s impossible to block

While anti-piracy agencies and mounting legal pressure have made many several pirated torrent websites close down its shutters, a new cryptocurrency startup has now come up with a novel idea to use blockchain technology to save and actively promote copyright content.

The project called “Quality Magnet Coin” (QMC) aims to build a large torrent magnet index that cannot be taken offline, censored, or blocked. The only thing QMC programmers want, they claim, is to make information “free and available to everyone.”

The startup will use QMC, a cryptocurrency, to create a decentralized database of torrent magnet links. Since the blockchain does not depend on a hosting service or domain name, it will be almost impossible to take down the torrent magnet links.

“While other existing services and plans are focusing on Pay-to-Seed, that is, paying for uploading the actual data of the files to people who are downloading, we are focused on the creation of a decentralized and searchable database of files to download. Think of it as a decentralized Pirate Bay,” the QMC team told TorrentFreak.

QMC would automatically update all existing torrent links, as well as add new ones. Further, besides keeping a record of all transactions on the blockchain, every user would also have a database of all available torrent magnets through the cryptocurrency. This is regularly synced with the decentralized network to actively update every working magnet file made available and also remove those that are often voted as ‘bad.’

QMC depends on its users to build the magnet database. To promote file sharing, the platform rewards users for sharing ‘good’ – i.e., working – magnet links. While submitting a link would cost the users 1 QMC, they can, however, get up to 5 QMC back after the end of month, for each magnet that is voted as good.

The cost of submitting a link concept will encourage people to share only working content and in turn, keep spammers at bay.

Although the project has just begun, it already has 25 working masternodes, reports TorrentFreak. Currently, only 10% of the masternode holders have to vote a working torrent as ‘good’ before making a payment.

The startup has made a software application called QMT that allows you to search for content at any given time. This includes working download torrent links to load magnets into any regular torrent client, along with a link to Instant.io that allows users to download or stream through WebTorrent.

Presently, there are over 5,000 magnet links in the magnet database. The QMC is currently “exploring partnerships with torrent sites” to expand it more quickly.

While there are claims that the QMC team is looking to actively promote copyright infringement, the QMC team emphasizes that the software and network itself is content neutral.

“We have no intention of copyright infringement, just like TRON doesn’t for that matter – even though they want to pay users for seeding torrents,” the QMC team told TorrentFreak pointing out at TRON’s recent acquisition of BitTorrent.

“We simply would like information to be free and available to everyone. Information is always silenced based on political views or other means of pressure and we want to change that. What our users choose to post is up to them.”

In order to promote anonymity, the cryptocurrency wallet has built-in support feature for the Tor network – a powerful anonymizing service – that users can enable in the configuration file.

The QMC wallet and QMT search tool are available on Windows, Mac, and Linux. The group has plans to release the iOS and Android versions next year. The startup also has future plans, such as an API to link torrent sites to the QMC database, and the option for private torrent trackers to accept payments in QMC.

Also Read- The Pirate Bay is Down- 10 Best Torrent Sites To Download Free Movie

If you want more information and background on the project, you can check out the Bitcoin Talk forums, or the website.

Also Read– How To Unblock Torrent Sites

Whether or not will the startup be able to deliver its promises, only time will. On the other hand, if the project manages to get popular and worldwide acceptance, it could turn out to be a nightmare for the entertainment industry around the globe.

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Fork-free, Energy Efficient Red Belly Blockchain Hits 30,000 Transactions per Second

Red Belly fork-free Blockchain, previously showed transaction speed several times faster than Bitcoin and Ethereum, was subjected to a new experiment, hitting the ability to provide 30,000 transactions per second. This is reported by CSIRO’s Data61, the technology arm of Australia’s national science agency, which took part in the development, together with the Concurrent Systems Research Group at the University of Sydney.

3,000 Trx/Sec matching 14 regions

The experiment was deployed in 14 regions covered by Amazon Web Services’ network, including North America, South America, Asia Pacific, and Europe. With 1,000 machines maintaining a copy of the current state of the Blockchain and the balance of all accounts, the Blockchain demonstrated an average transaction delay of three seconds, which is comparable to the delay obtained during a test last year with 260 replicas located in a single region.

In comparison, mainstream blockchain technologies need minutes, with the Bitcoin Blockchain and the Ethereum network typically processing seven and 20 transactions per second respectively.

The experiment emphasizes the newly launched Blockchain’s scalability while retaining fast transaction speeds makes it ideal for the processing of financial transactions and microgrids that use peer-to-peer trading to transform the energy sector.

Fork-free, no double spending

In addition to high throughput, Red Belly differs from existing solutions with a number of advantages. It is fork-free as contrasted to Bitcoin selecting the longest branch from a forked chain or tree where multiple nodes add different blocks at the same point before learning of the presence of other blocks.

The Blockchain eliminates the risks of double spending where an individual spends their money twice by initiating more than one transaction, researchers say.

Beyond that, It’s much more friendly to the environment because it requires much less electricity than blockchains maintained by proof of work and based on solving crypto puzzles, that requires massive amounts of energy. Red Belly is underpinned by a unique algorithm and offers performance that scales without an equivalent increase in electricity consumption.

“Real-world applications of blockchain have been struggling to get off the ground due to issues with energy consumption and complexities induced by the proof of work. The deployment of Red Belly Blockchain shows the unique scalability and strength of the next generation ledger technology in a global context,” Dr. Vincent Gramoli, senior researcher at CSIRO’s Data61 and head of Concurrent Systems Research Group at the University of Sydney said.

Being marked as a revolutionary solution for the global economy, Red Belly Blockchain has also attracted big-time investors. The company is currently in the middle of a Series A capital raise to help it commercialize, and Kosmos Capital, a VC firm specializing in blockchain investments, is the one leading the raise.

For more information on Red Belly Blockchain, visit redbellyblockchain.io.

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Unibright Unites Lufthansa, Microsoft And NEM To Kickstart Blockchain Adoption. Why A Bridge Is Needed

Unibright Unites Lufthansa, Microsoft And NEM To Kickstart Blockchain Adoption. Why A Bridge Is Needed

Unibright, the German-registered company offering a new approach to smart contracts adoption on the mass market, sparked interest of Lufthansa, Microsoft, and NEM. A little more than three months after its successful ICO, the up-and-coming project describing itself as a “unified framework for blockchain based business integration”, signs partnerships and sets up blockchain events with tech giants. Being a team of developers with 20+ years of experience in business integration, Unibright seems to know how to bridge different industries utilizing the blockchain technology.

Troubled waters for companies

99% of all existing IT systems within enterprises don’t use or connect to any blockchain yet. Unibright wants to change that, offering outstanding features of its Framework which reflect the overall challenges for companies to adapt to blockchain.

Long-term strategic planning

Although still at an early stage of the blockchain, the first league of business-relevant protocols is expanding fast. It is close to impossible for companies to choose between all existing blockchains, offering different features, in order to set up solid business processes in the long run.

Implementation

Errors in smart contracts have far-reaching consequences, so they are much more complex to fix as opposed to traditional programming in centralized systems. Most of the developers are expensive and specialized in one specific protocol that may not matter tomorrow anymore. If you change the protocol you have to find a new developer, so companies don’t want to back the wrong horse.

Integration

Companies don’t want to change their already existing IT system landscape, just because of blockchain. But the best blockchain implementation does not help if it is not perfectly integrated into off-chain systems.

Monitoring

With every new system or technology involved in a company’s processes, it is getting more complicated to keep track of all data and information. From a process point of view, it is not so interesting where the data initially comes from, but rather what it means for the ongoing process. Therefore, a unifying monitoring approach is needed to drive business intelligence within a company.

„Nowadays most companies have a strong interest in Blockchain technology, but struggle to use it. That is why we created the Unibright framework. It’s an easy-to-use, non-techie approach for companies to integrate state-of-the-art blockchain technology into existing business and IT system landscapes,“ Marten Jung, CEO from UNIBRIGHT states.

Customizable templates and “no-coding-needed” approach

Based on different use cases, the Unibright’s Framework provides customizable templates to design individual business integration workflows visually. All necessary objects are then generated automatically by the framework: Smart Contracts for different blockchain implementations; Smart Adapters to connect with other on- and off-chain systems; Smart Queries to monitor the ongoing integration process in realtime.

The Unibright’s “no-coding-needed” approach is attractive for different players in the ecosystem:

  • tech giants who want to get consumption to their infrastructure build for blockchain nodes,
  • consulting companies searching for solutions to show their customers a way into blockchain technology,
  • enterprises looking for a future-proof solution to find a start in blockchain technology,
  • blockchain companies offering platforms and protocols and looking for clients of the “real world”.

To bridge these different businesses, Unibright co-hosts public events with its partners: Microsoft (May 2018), consulting companies like Zühlke (June 2018) or world players like Lufthansa (July 2018). On top, an active partnering with high-quality blockchain protocols (like NEM in August 2018) supports the success chances of all participants.

Lufthansa, the biggest European airline, supported Unibright‘s “Hackathon without a single line of code” at Pillar Unconference 2018 in Vilnius, Lithuania. Based on different templates, participants worked on visual definitions for a real life use case.

“We like the “non-coding” approach of Unibright. We often see Blockchain only used as a buzzword, but prefer to make real use of it,“ Dr. Jörg Liebe from Lufthansa, Senior Director Digital Innovations Hub Airlines and Airline Products, stated.

Besides, the partnership with Microsoft Germany led to a common two day hackathon in Microsoft headquarter in Munich. Unibright Hyperledger and Solidity specialists helped more than 50 participants to set alive their first smart contracts.

According to the latest news, Unibright is now teaming up with NEM, an enterprise-grade blockchain platform, by adding NEM oriented code generation to the Unibright framework and working together on common customer projects.

At the same time, the crypto media reported that since August 14, the project’s tokens have been traded on QRYPTOS exchange with rewards for those interested in the currency side of things and want to be part of this promising ecosystem.

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