Blockchain technology-based platforms and distributed networks present many innovative mechanisms that are both new and important. They have the potential to revolutionize the way all industries function. We’re seeing many applications of blockchain technology across different industries as we speak. The problem is that these platforms function within their respective walled gardens. The aspect of interoperability and platforms communicating with one another is the next logical step, which needs to be taken. That is the only way blockchain will see mass adoption throughout the world.
This is where Block Collider enters the scene. It’s a decentralized platform which operates across multiple chains. It is taking a new approach to the interoperability of blockchain networks by creating a bridge. It only makes sense that the bridging mechanism will be facilitated by its own blockchain. It will link together other blockchain-based systems to create a wholesome decentralized mechanism. This new prospect offers several advantages, which makes this approach a novel one.
What is Block Collider?
The premise for creating Block Collider is to create a true and decentralized landscape for the interaction of different blockchains. It will allow their interaction without the problem of security, stability or scalability in real-time. This is a model which will eliminate all the central points of failures we see in the landscape right now. Validators or oracles will be no longer needed. Block Collider’s philosophical and conceptual approach makes it stand out. The underlying blockchain technology cements its credibility to actually achieve the purpose. For a better understanding of their concept, the white paper talks about the Unix design philosophy.
The whole philosophy basically talks about different programs performing particular functions well. The model then connects different modules and allows seamless cooperation between them.
The most defining feature of the Internet is the fact that it allows people all over the world to connect with each other. People are able to share and exchange information without a problem. When it comes to the cryptocurrency world, the need for a model which provides a solution that is true to the spirit of the Internet cannot be stressed enough.
Block Collider basically works by capturing the immediate state of the bridged chains onto its own. Every block on the native chain will be the leading block of the bridged chain. This allows Block Collider to unify different chains. It can reference any of the valid blocks recently verified on the bridged chain. This makes Block Collider the fastest member on the whole chain. Every time a new block is mined on the bridged chain, it also gets added to the Collider blocks.
The Collider platform is then able to perform multi-chain and inter-block trading. For instance, take the example of Bitcoin. Collider users can conduct transactions with Bitcoin between the Bitcoin blockchain times. It does so by setting up its transactions on blockchains faster than Bitcoins like the Ethereum blockchain.
The result is that a Bitcoin can get exchanged between corresponding parties in the same time it takes a transaction to happen on the Ethereum network. It has come down from being a 10-minute long process to around 30 seconds which is just a fraction of the original time. This is just one of the things that Block Collider can accomplish on the network and between any bridged chains on the network.
The Massive Potential
There is a lot of potential on this new platform. Block Collider doesn’t market their platform, even though their ICO project was a huge success. Nonetheless, they are making headways into creating a whole new platform for interconnectivity and interoperability.
Security, scalability and stability are all major concerns in the cryptoverse. A platform of the likes of Block Collider can possibly provide the multi-chain solution which is direly needed in the industry.
The Dubai International Financial Center has announced that they will launch a new blockchain-based initiative. They are going to partner with the Smart Dubai project for this venture. This partnership will result in the formation of the world’s first Court of Blockchain.
The announcement was made on the 30th of July, 2018. This new partnership between Smart Dubai and the DIFC will explore blockchain technology. Through the innovations in this new technology, its applications in cross-border court judgments will be explored. There is a potential to create the first-ever blockchain technology-based judiciary system for the world. It will allow decentralized information systems between different courts to coordinate and establish an international system.
Dubai’s Blockchain-Powered Future
The new court system will be targeting the use of blockchain technology to make the judicial process smoother. It will minimize the need for duplicating documents and improve the overall efficiency of the legal system in Dubai.
The DIFC courts have the job of providing resolutions to commercial and civil disputes. These include the likes of international transactions, employee disputes and debt collection.
This partnership is aiming to provide quick implementation of the new technology. The whole model of governance and economy will see itself become revamped. Smart contracts that can deal with dispute resolution will create a lot of opportunities for improvement.
The Chief Executive Officer of the DIFC Courts talked about the new partnership. He said that this new task force will deliver the courts as a service. Powered by blockchain technology, Dubai will cement its position in the forefront of legal technology. It will set new standards for legal processions for the world to follow.
The court of the blockchain project is in line with Dubai’s push for a blockchain-powered future. Dubai boasts an extensive network of task forces. They are all working towards building a bright digital future for the city-state.
The director General of the Smart Dubai Office, Dr Aisha Bint Butti Bin Bishr says that the region has become a global trailblazer.
It is embracing advancements in technology to steer the region towards a more secure future.
Blockchain technology has been a revelation for the world with all the disruption it has caused. The potential uses for the technology are apparently endless. This invention of such a high caliber yet equally disruptive nature is providing a new set of rules, which are more effective. They make them easier for the institutions to uphold them.
The Australian government has yet again made a move in the blockchain technology world. They have recently announced a grant for the Sustainable Sugar Project. This is a blockchain-powered project and the grant is worth AUD$2.25 million.
Queensland Cane Growers Organization is leading this project. They are going to use blockchain technology to track the sugar supplies to The Land Down Under. This initiative is being dubbed the Smart Cane Best Management Practice. It will provide the necessary push that the sugar industry in Australia needs for improved traceability and sustainability.
Introducing blockchain technology will allow buyers to know the source of the sugar itself. The main thing about this new technology is that it has a secure database system. All the transactions, from the point of origin to the point of sales, can be traced through and through. The added transparency to the whole record keeping process provides a certain sense of trust for the customers.
In order to carry forward this initiative, the experts from the industry and the farmers are all collaborating. They are making sure they’re on the same page with the best practices for the industry. This will ensure the top industry standards to be met and increase profitability and sustainability.
The Ministry of Agriculture and Water Resources have made note of the fact that customers might possibly pay more for sustainable sugar in the future. This is in line with the thinking that consumers are making increasing demands for sustainably sourced produce all around.
Introducing this new technology will provide the customers assurance of the industry’s focus on sustainability. It will also help out the farmers by encouraging them to use sustainable farming practices.
Blockchain technology has provided a boost to logistics and supplies across several industries. Even the likes of global giants IBM are working on providing logistical solutions that are powered by blockchain technology, to improve overall efficiency and root out malpractice.
The announcement of this grant is yet another example of the Australian government’s initiatives for a blockchain-based future for the country.
Self regulation is the only way forward for blockchain technology. This is the opinion of a director at the Switzerland based Crypto Valley Association. Cecilla Mueller Chen believes that it’s the best way to accelerate the technology while protecting the interests of all stakeholders.
The director at Zug was discussing this issue at the third general assembly of the Philippine Association of Digital Commerce and Decentralized Industry. The conference was taking place in Makati City where Chen spoke using her experience in the cryptocurrency world. She spoke of Crypto Valley’s collective experience. This is a cryptocurrency-centric group of companies which operate in Zug. The Swiss FINMA has declared Zug to be a self regulatory organization. FINMA is the financial market supervisory authority in Switzerland.
Chen believes that self regulation is the only way to go. The foremost reason for that is that it’s the fastest route. Instead of waiting around for government regulators to come up with a set of rules, the rules they will come up with will definitely conflict with the interests of the blockchain world. It would be fruitless and it can hinder the growth of blockchain technology.
While she believes self regulation is necessary, she also stressed that it is a big responsibility. The community will need to work together. They will have to make sure everybody is behaving in an appropriate manner. All the actors have to protect the interests of investors and consumers.
This is why FINMA has allowed Crypto Valley Association to create their own policies. This has allowed Zug to become a proper blockchain technology hub in the world. Other than blockchain technology, Zug is also a good place to garner hedge funds. The ease of doing business in Switzerland makes it the haven that it is.
Chen believes that if a community wants to make itself an SRO, it needs to draft a code of conduct. That should be the first order of business for them. They need to work on creating a lasting value by building a strong reputation.
She emphasized on the importance of the group’s reputation. None of the members of the community should be involved in criminal activities. That’s the only way the SRO will be a viable option.
The first general assembly of the PADCDI happened in May this year and it led to the creation of the SRO. One of the main objectives for it is to work with the Philippine government. That way, they can draft policies and rules which can encourage mass adoption of blockchain in the country.
Government officials in China’s South Eastern province of Xiong’an have employed the services of ConsenSys. ConsenSys is an incubator from the Ethereum network. It is going to use the power of blockchain technology to convert the agriculture-centric economy into a technological center.
The Push for Blockchain
The South China Morning Post reported on the 24th of July that the authorities are well under way to fulfill the President’s dream. The President Xi Jinping wants to see China’s first smartly planned city come into being. Xiong’an province authorities are on their way to fulfilling that dream.
Jinping believes that Xiong’an is the likeliest to succeed in building a dream city. The industries of AI, energy sciences and biotechnology boosting the local economy can make that possible. The market analyst Morgan Stanley has projected a huge investment in the region so far. According to their figures, the investment is north of $360 billion. This figure is from October of 2017. It is possible that the figure is much higher by this point.
The May of 2018 saw Xiong’an announce that it will be leveraging the power of blockchain technology and AI for the development goals.
ConsenSys is now employed as a consultant on blockchain technology. Every aspect of blockchain technology used to build this city will have ConsenSys’ oversight. It includes the possible administrative utility of blockchain technology for the city. Everybody knows that China does not trust cryptocurrencies. This move shows they have a lot of faith in blockchain technology.
ConsenSys will focus on providing blockchain framework and software solutions to the region. They even signed a memorandum of understanding to cement their partnership.
The founder of ConsenSys said that this project is one of the first major steps into China. This will lead the way for the technology to be used for large scale infrastructure. Everything from whole districts to even cities might be able to use the new technology.
This partnership is also the first time that the province is using services of a foreign company instead of local ones.
Blockchain Project Already Underway
This isn’t the first blockchain project for Xiong’an. They have partnered with China Communications Construction Company as well. They’re working together to create a blockchain platform for small companies to raise capital. Companies using the platform saw plenty of benefits of using the technology. The ConsenSys partnership is a big move for the Chinese province. There is a lot for the region to look forward to with this move.
The CEO of a major player in the cryptocurrency world, Stasis, has recently announced that the cryptocurrency ecosystem has managed to get their first institutional client onboard with their EURS stablecoin. This is a huge move for the world of cryptocurrencies as the announcement was made by the CEO Gregory Klumov through his Twitter account.
While speaking to CCN, the CEO of Stasis said that their client is an operative in the field of money management. This makes the licensed money manager the first institutional investor to enter the Stasis ecosystem. The entry of institutional investors into the world of cryptocurrencies has been a long time coming and the EURS token is something which makes it the perfect entry point for them in the marketplace.
The Recent Slump in Cryptocurrencies
2017 was a pretty volatile year even by the standards of the highly volatile cryptocurrency landscape. It saw a lot of the major cryptocurrencies rise by hundreds of percent in their values in the second half of the year and then suddenly see their valuation drop by half towards the end of it. The start of this year has seen a still gradual decline in their prices and they have finally started to look like they are bottoming out.
There has been a lot of discussion about how the lack of institutional investors in the crypto sphere has led to all of the prices dropping so drastically but with this new development, the possibility of the cryptocurrency world moving forward are now better. The cryptocurrency world is growing gradually.
The launch of the EURS stablecoin on the Stasis ecosystem earlier in the month was done in an event where the Prime Minister of Malta, Joseph Muscat was also present. Considering the fact that the small island nation is well on its way to make itself the ‘blockchain island’ passed cryptocurrency and blockchain bills into law, this was a significant presence at the event.
The EURS token has the aim to address the increasing demand from a lot of European institutional investors who have been taking a lot of interest in cryptocurrencies. Their lack of participation before this point was their lack of trust in the liquidity of cryptocurrencies which the EURS stablecoin addresses. How? It is directly paired exactly against the Euro itself.
EURS also launched on the London based cryptocurrency exchange DSX on the 4th of July while other large cryptocurrency exchanges are expected to follow soon.
A previously unprecedented possibility has opened up for international investors within the US Real Estate market with the merger happening between a major real estate investment platform and a blockchain powered platform.
StraightUp is a progressive platform which is centered around the real estate investment market having brought many innovations to it. They recently announced the merger with Slice, which is the first ever blockchain technology based real estate investment trust. This merger is going to change the way the real estate market functions within the US since the addition of the blockchain technology powered Slice to StraightUp’s real estate investment platform is going to open up a lot more opportunities for foreign investors to enter the prime real estate market in the United States.
Democratizing Investment Opportunities
The innovative firm StraightUp was designed with the premise of introducing a sense of democracy to the high potential investment market in New York City, which was for all intents and purposes unattainable before the platform’s existence. The merger with Slice will reinvigorate the platform and give more access to international investors looking to gain access to some of the prime property across a lot of the more desirable cities in the U.S. like San Francisco, New York City and Los Angeles. The aspect of security also comes into play because of the blockchain technology involved in the processing for the platform.
This added layer of trust, transparency and security is something that has been missing from the real estate market within the country and the innovative new platforms merging together to create a unified real estate investment platform might just bring an end to that.
The goal at StraightUp has been to increase the access to the real estate market and democratize it so that even those who are not well connected to the super rich elite class in the country have a fair chance of purchasing prime real estate in the U.S.
Merging with Slice has allowed them to combine their efforts and cater to an international market. The leveraging of blockchain technology by Slice and the tokenization of securities in order to advance the world of real estate investment has been the vision for Slice. Their goal has been to become the largest issuer of real estate backed security tokens.
The real estate market in the United States right now is valued at a mind boggling $15 trillion right now. The onset of this innovative blockchain technology based revolution is bound to disrupt the whole landscape and how it works.
The last two decades have seen technology advance significantly. From being something that was a fascinating thing that only the elite had access to, technology has become an omnipresent part of our lives as it has become more and more affordable. Reliable internet connections, social media and smartphones have transformed the way in which we interact with each other and the world around us.
At the same time, there is an effect that decentralized economy is making on the world. It is changing the expectations we have when it comes to technology. Just as the internet really picked up the pace surprisingly in the 90s to grow to becoming something of a phenomenon, the advent of decentralized economy is seeing the same. It is producing new platforms, disrupting the way in which things have been happening and effectively reorienting the relationship we have with technology.
Dispute Resolution in Blockchain Era by JUR
JUR is a dispute resolution platform which has taken form in the era of blockchain technology. It implements the disruptive new technology behind the decentralized economy and game theory in order to create a sense of trust between corresponding parties which operate in this new digital landscape. The prospect of utilizing digital tokens allows JUR to offer users a verified payment structure along with dispute management through decentralized means.
Up until now, the digital age has been missing the key aspect of conclusive and fair conflict resolution. JUR is going to provide that crucial component to the blockchain era by implementing the services it provides in a secure yet simple manner. A conflict free digital economic system will then be able to properly flourish.
Decentralized Management of Disputes
The current manner of adjudication happens to be inconvenient most of the time and unreliable in many cases as well. The prospect of decentralized dispute management will resolve disputes within the space of 24 hours and that too without the exorbitant costs that come along with traditional methods of dispute management.
If there is a dispute, a user will open it and arbiters will utilize the JUR tokens to vote for the winning party based on the facts and figures of the dispute. The smart contracts on the blockchain will be used to transfer the funds to the winning party’s account based on the consensus that the arbiters will reach.
With billions of cryptocurrency transactions taking place every month, JUR presents a unique way to eliminate counterparty risks while using cryptocurrencies. The need for accountability and dispute management has been a long time coming for the new decentralized economic system brought upon by the advent of the blockchain era. With the likes of JUR at work, the new economic system will become more trustworthy and usable for people throughout the world for a truly fair global economic system.