Blockchain 50: Billion Dollar Babies (04.16.2019)
Decades ago it was all done on paper and now, though electronic, it continues to be burdened by a myriad of duplicate procedures and reconciliations among thousands of its members. In a few months DTCC will quietly begin the largest live implementation of blockchain, the distributed database technology made popular by the bitcoin cryptocurrency. Records for about 50,000 accounts in DTCC’s Trade Information Warehouse, where information on $10 trillion worth of credit derivatives is stored, will move to a customized digital ledger called AxCore. Soon all will have access to a single real-time account of trades, eliminating layers of databases.
Walmart is using blockchain technology to track shipments from its suppliers and reduce the risks of food spoilage and contamination. It has already filed 50 blockchain-related patents. Hard drive maker Seagate is using the tech to catch and prevent counterfeiters and Metlife can now pay claims instantly to its expectant mothers who test positive for gestational diabetes. READ MORE >>
Smart Contracts Signed into Arkansas Law
Governor Hutchinson signs Arkansas’ first blockchain legislation embedding in law digital smart contracts. The legislation was guided by Blockchain Ready Studio in partnership with IBM. Standing behind Governor Hutchinson from left Jeannie Stroth, Marla Johnson, Senator Joyce Elliott (sponsor), Evan Thompson, Ken Hubbell, Samantha Lindstrom, Kathy Barbeire, Richard Bearden, and Jennifer Peper.
Arkansas Governor Asa Hutchinson, Marla Johnson, and Senator Joyce Elliott celebrate blockchain smart contracts law signing.