Blockchain becomes more prevalent in sports.

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Can an industry like sports take advantage of the blockchain technology? The answer is ‘Yes.’

Blockchain has received friction in the world of sports in recent months. Earlier in January, news developed that the National Basketball Association’s Sacramento Kings will shift off a live auction for gear with a blockchain-based app. The platform purportedly validates auction items, mending problems that have long bothered gearhungry fans.

Last year, the Italian luxury sports car brand Lamborghinistarted utilizing Salesforce Blockchain to track, certify and authenticate heritage Lamborghini cars quicker and more securely employing its blockchain platform.

Malta-based sports blockchain venture Chiliz announced that it is launching a cryptocurrency exchange for sports and entertainment tokens.

Lancashire sales director John Nuttal explained that online ticketing has become increasingly popular in recent years, so it’s time to introduce the latest technology that can protect customers from fraudsters selling fake tickets.

In August 2018, the Union of European Football Associations (UEFA) first sold tickets for the match between the Spanish teams of Real and Atlético through a mobile blockchain application, and last month announced a partnership with AlphaWallet to tokenize tickets for the 2020 European Football Championship.

According to a Feb. 17 announcement, UEFA will distribute over one million soccer match tickets via a blockchain-enabled mobile application. The organization claims that this new ticketing system will make “entry into the stadium smooth, safe and secure.” The new blockchain-based mobile ticketing solution is meant to prevent the duplication and replication of tickets by “QR codes only being activated by Bluetooth once fans are in close proximity to the stadium.” The app will be available for download toward the end of May for both Android and iOS devices.

Tickets will be delivered no later than seven days before the match and “UEFA expects to deliver over one million mobile tickets to fans across all 51 matches.” UEFA decided to adopt this system in an attempt to facilitate ticket distribution to what is expected to be the most in-demand UEFA cup ever.

In the future, the blockchain opportunities for the sporting world look promising though it is yet to reach its full potential. Those who want to stay ahead of the game in the sporting world should embrace the innovative opportunities blockchain has to offer.

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Cricket Club Lancashire uses blockchain to sell tickets

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The United Kingdom’s Lancashire Cricket Club will trade tickets for all national and international fixtures at Emirates Old Trafford in 2020 by a blockchain-based platform.

The management of the English cricket club Lancashire Cricket Club announced plans to use the blockchain-based system developed by the TIXnGO startup to sell tickets.

According to the club’s management, blockchain will simplify the process of buying and reselling tickets, making it completely transparent. In addition, each ticket will be unique and impossible to fake. The development of the platform lasted about 18 months, and last year the system was successfully tested.

The platform has been collectively developed with Lancashire’s ticketing service provider, SecuTis, and was favorably examined during the 2019 season.

Excluding fraudulent tickets.

By using the platform, the club aims to decrease fake tickets and trail ticket distribution amongst its supporters. Lancashire’s head of ticketing and digital systems, Jonathon Nuttall, declared that the club became the principal in the sport to utilize the new blockchain secure mobile ticket technology, and continued:

“During the 2019 season, over 80% of tickets bought at Emirates Old Trafford have been made online, compared to less than 50% in 2018 so it’s vitally important that we continue to improve the digital ticking technologies to ensure we make things as easy, and as enjoyable, as possible for those supporters booking with us.”

David Hornby, UK MD of SecuTix, stated that “blockchain technology addresses many of the ticketing issues that both sports organizations and fans alike face. TIXnGO creates a unique, encrypted ticket for smartphones that is completely traceable, removes the risk of counterfeit tickets, and simplifies the process of transferring or reselling tickets for the customer.”

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Hawaii Senate Files Bill Allows Banks Offer Cryptocurrency Custodial Services Hawaii crypto custody.

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Five lawmakers in Hawaii, a state in the US, have proposed a bill that could enable banks to hold and manage digital assets in their custody. The bill, Senate Bill (S.B.) 2594 was introduced last week and has passed its first reading.

Once approved, the legislation would make it legal for Hawaiian banks to hold digital assets such as “virtual currencies, digital securities, open blockchain tokens and digital consumer assets” on behalf of their customers.

Part of the SB2594 put forward to the authorization of law courts to hear claims concerning digital assets. Hence, if passed, would equally enable Hawaiian courts to handle digital asset-related cases.

The development is coming at a good time as it could turn things around for crypto-related businesses in the state, given that, Hawaii has been among the regions with stringent requirements for crypto firms.

For instance, Coinbase, one of the leading crypto exchanges had to stop its operations in the state, due to a mandate by the state’s Division of Financial Institutions in 2017, asking crypto-licensed businesses to hold cash reserves that are equal to customers’ crypto holdings in their custody.

The bill, however, has a tendency to level up the path for cryptocurrencies,and digital assets in general, as it would probably reinforce the steps by banks in providing support for these assets.

Nonetheless, banks will have to maintain reserves like a trusted company, according to the document citing section 412:8–202, which states:

Every trust company shall have on hand at all times in actual money of the United States an amount equal to at least twelve per cent of all agency credit balances payable on demand and accounts payable, plus at least five per cent of all agency credit balances payable on time; provided that such reserve may be deposited payable on demand in banks and other trust companies approved by the commissioner or maybe cash in the vaults of the trust company.

Several lawmakers of the US state of Hawaii immediately proposed allowing local banks to store “digital securities”, “virtual assets” and other “open blockchain tokens.”

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Blockchain in Supply chain industry and Intellectual property.

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Supply chain

Supply chains are a complex industry. There can be hundreds of stages in global supply chains — cargo ships, trains, warehouses, etc. And a distributed digital registry can be incredibly valuable here.

The blockchain has practical applications in ensuring transparency, contracts, tracking and payments throughout the supply chain. For example, each participant in the supply chain may have access to the details of the previous block and other relevant information.

Big players like Walmart are already using blockchain in their supply chain and are reaping the rewards.

Intellectual property

Theft of original creations and / or ideas is common throughout the world. People constantly use intellectual property for personal and commercial purposes, and the creators are in no hurry to seek legal protection. Why? They will need to provide evidence, such as a patent, trademark, or copyright to a publicly accessible creation, which will take time and money.

Digital registry technology can help protect intellectual property. Thanks to the immutable and safe blockchain system with timestamps, you can record your discovery or creation in the digital registry. This can serve as an ideal proof in case of legal issues.

Thus, the blockchain will prevent digital thieves from cheating and stealing intellectual property.

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ConsenSys will develop a blockchain platform for agribusiness

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Covantis blockchain initiative, launched by global agricultural companies likeCargill, has chosen ConsenSys as its main partner.

According to a press release, as part of the partnership, ConsenSys will develop a platform based on the Ethereum blockchainto digitize post-trade document workflows, as well as to ensure efficiency and cost savings when working with international supply chains in agricultural activities.

The Covantis initiative was formed in October 2018, when the four largest global agricultural holdings joined together to digitize their trading operations using blockchain and Artificial Intelligence technologies.

It is expected that the Covantis platform will be launched this year and ConsenSys will help accelerate the launch of the system. According to a press release, the initial goal of the platform will be to accelerate the processing, as well as the sale and supply of grain and vegetable oil.

“ConsenSys presented preliminary projects that show excellent knowledge of the subject area and experience in using blockchain to translate processes in the trade finance industry. We are confident that this partnership will allow us to build a truly first-class product that provides unrivaled functionality, security and privacy,” said Covantis CEO Stefano Rettore.

The four largest agricultural companies Archer Daniels Midland Company, Bunge, Cargill and Louis Dreyfus, plan to use blockchain technology and artificial intelligence development for global grain sales.

The Ethiopian government also signed a memorandum of understanding with the Cardano cryptocurrency startup. The agreement provides for the use of blockchain technology by Ethiopian developers in the country’s agro-industrial sector.

In addition, the Russian company Direct Pharm launched a blockchain platform of the same name for those who produce grain or other agricultural products and want to sell it.

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Chinese blockchain companies raised about $ 3.5 billion last year.

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The Chinese investment platform Rhino Data, in collaboration with the pro-government publication Xinhua Finance, presented a report on investments in the blockchain industry in 2019. This is stated on the official website of the company.

How blockchain helps protect copyright and fight piracy.

In this segment, in the Chinese blockchain space, analysts managed to count 245 investment transactions totaling about $ 3.5 billion. Both values ​​fell by about 50% compared to 2018, but turned out to be significantly higher than in 2017. It is expected that the recently taken course by the Chinese leadership on the development of the blockchain will have a positive impact on the results of the current year.

Over time, there has been a decline in investment in projects at an early stage of development — in the total volume of investments, they accounted for 43%. In the second half of the year, strategic investments and acquisitions of third-party companies were more in demand.

The most popular areas for investment were blockchain news resources, market data platforms, exchanges, and decentralized financial services (DeFi). The companies that received the largest volumes of financing included exchanges (Bitfinex, which allegedly raised $ 1 billion through the sale of LEO tokens), representatives of the mining industry (Canaan, which successfully carried out an IPO in the USA) and financial platforms on the blockchain. It is noteworthy that companies outside these sectors are still unlikely to offer a product that would interest investors.

China has recently been trying to introduce blockchain in various fields. Anhui Province of China will use blockchain to optimize business. Authorities announced plans to use new technologies, including blockchain and artificial intelligence, to optimize the business environment and provide public services.

Also, in the Chinese city of Kunming, a car rental machine appeared that authorizes the user by scanning his face. The system is developed on the basis of the blockchain and allows you to quickly rent a car.

And the State Intellectual Property Office of China has revised its leadership and clarified patent examination procedures for new technologies.

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Uzbekistan will create a national mining pool.

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Uzbekistanannounced the creation of a single national mining pool and the state cryptocurrency exchange.

The National Project Management Agency (NAPM), the government body under the President of Uzbekistan, has unveiled its plans for the development of the digital economy for 2020.

In order to increase the efficiency of electricity use, state control and ensure transparency of crypto mining, NAPM offers miners to consolidate production in a single center. Miners will be offered preferential electricity tariffs and the ability to sell cryptocurrencies on the country’s first licensed cryptocurrency exchange.

According to regulators, the national mining pool and managed crypto-exchange will help to remove Uzbek miners from the shadow economy and make the cryptocurrency market as transparent as possible.

Earlier, Uzbekistan legalized cryptocurrency operations and introduced mandatory licensing of crypto exchanges, which attracted many private miners and crypto enthusiasts to the country. To ensure that energy companies do not incur losses, NAPM decided to increase the tariffs for miners three times.

At the end of last year, the regulator also tightened the rules for cryptocurrency users and limited the trading of crypto assets on its territory, trying to take the crypto industry under full state control.

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Binance has allocated funds to combat the epidemic of coronavirus.

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Binance has allocated funds to combat the epidemic of coronavirus

The largest cryptographic site, Binance, has led a charity initiative in support of victims of the Chinese coronavirus, which began to spread around the world from Wuhan.

CEO Binance, in a tweet published on January 25, said the company was ready to provide “10 million yuan ($ 1.4 million) to fight coronavirus in China.”

Changpeng Zhao noted that it is not possible to transfer crypto assets directly to victims in Wuhan. Therefore, the company will allocate funds for the purchase of medicines and personal protective equipment.

The Binance team has been working with logistics and e-commerce companies over the past few days to arrange deliveries to a closed city. The company has already placed an order for seventy thousand medical masks, as they are in short supply in the region. The issue of delivery to an infected city is still open.

Other cryptocurrencies have also begun a charity fundraiser to purchase medical supplies for the epicenter of the disease. Blockchain Krypital is creating a donation system in stablecoin Tether (USDT) and Ethereum. The company also attracts volunteers for the purchase of materials, their sorting and transportation.

According to the latest data, hospitals in Wuhan are crowded due to the large number of patients and those who believe that they are sick with coronavirus. Independent videos posted on social media suggest that there is a shortage of medical masks and other protective materials, as well as too few doctors.

Meanwhile, BitGive Foundation, the world’s first non-profit organization powered by blockchain and Bitcoin, recently named Bitcoin as the most charity-friendly currency. Bitcoin has the ability to facilitate remote and private transactions that are not only affordable but also executed in real-time to ensure instant settlements.

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Rapper Akon to build a cryptocurrency town in Africa

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Akon, 45, is building a new futuristic cryptocurrency city in Senegal. Residents of this city will use and pay exclusively for a cryptocurrency called AKoin.

According to an American singer of Senegalese descent, the new cryptocity will be built on 2,000 acres of land and is located near the capital of Senegal, a 5-minute drive from the new international airport.

While the city’s project is still under development, it could take decades to build. The first phase of construction began in March last year, the second is scheduled to begin by 2025.

The life of the city will revolve around a cryptocurrency called AKoin, the launch of which is scheduled for early July this year. Users will be able to buy goods using AKoin directly from their smartphones, which theoretically will stimulate cryptocurrency and financial stability in the urban infrastructure.

Akon admits that he does not delve into the technical details of the project, but focuses more on the big picture.

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Explore new use cases for Blockchain in Electronic Health Records

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Blockchain — the Biggest Breakthrough in Healthcare in 50 Years.

Blockchain technology is typically associated with cryptocurrencies, but it can also be applied to new industries — one of which is the medical field. The technology is being explored as a way to create a shared network of healthcare data, and could hold the key to the future of electronic medical records.

New technology is the future of the healthcare industry. While many types of digital technology have transformed the industry, blockchain is one of the biggest breakthroughs in at least half a century. It will shape the industry in everything from protecting medical records, offering better patient packages and streamlining billing.

That’s what Massachusetts General Hospital is hoping, for instance, with the partnership announced this past month with MediBloc, a Korean blockchain startup. The aim is to pilot new DLT-based storage and exchange mechanisms that complement, rather than supplant, its existing electronic health record.

The hospital plans to “explore potentials of blockchain technology to provide secure solutions for health information exchange,” said Synho Do, director of MGH’s Laboratory of Medical Imaging and Computation.

How Medical Records can be protected?

Blockchain provides a better way to store, share and protect sensitive information. Australia and Estonia are already using blockchain to manage health data as well as broker transactions among healthcare providers, patients and insurers.

To be clear, blockchain likely won’t replace electronic health records. The computational intensity of the encryption only allows a handful of transactions to be completed each second. Most electronic health record systems process thousands of transactions per second.

But blockchain is not meant to be a database; it’s meant to serve as a ledger of data integrity. The technology can be used for proof-of-work, integrity and auditing.

Blockchain can prove that medical records are unmodified and complete. It can also document what procedures were done and when. Ultimately, blockchain can help improve patient care while also reducing medical errors that can lead to medical malpractice lawsuits. Blockchain ensures the integrity of medical records, providing absolute proof that the medical record cannot be changed.

The technology can also record patient consent for sharing information. Parties seeking to exchange medical data about a patient can refer to the blockchain for permission.

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