This week, the Linux Foundation announced a new blockchain framework for the healthcare sector that hosts a number of benefits. The framework allows participants to draft smart contracts in any language (e.g., Python and Javascript) and then use those smart contracts to vote on the blockchain network's configuration settings. The framework also supports Ethereum and allows participants to upgrade the blockchain consensus protocol and incorporate new scalable algorithms.

In the emissions industry, a multinational technology company announced an initiative to enhance the market for carbon credits through blockchain technology. The billion-dollar market for carbon credits suffers from inefficiencies and expensive accounting procedures, resulting in carbon credits that are often underutilized by corporations. The new initiative would turn these carbon credits into crypto tokens backed by various carbon assets verified by third parties according to international standards. The underlying token protocol seeks to instantly calculate the number of carbon credits needed to offset a corporation's carbon footprint and facilitate the purchase and sale of carbon credits, ultimately leading to a more efficient marketplace.

Internationally, a major airline announced plans to roll out an airline loyalty digital wallet that would use blockchain technology to convert frequent flyer miles into digitized units that could be used to purchase goods from select retailers via the airline's mobile app. The airline is currently partnering with 18 merchants, including restaurants, beauty parlors, gas stations and select retailers.

In the public sector, Delaware plans to launch a proof of concept for a blockchain-based business filing system. The system will allow corporations to track stocks and collateral assets in real time through smart contract technology and ultimately provide lenders and borrowers with more efficient and accurate records to meet state and federal regulations. In Tennessee, a global shipping corporation announced its plans to team up with a nonprofit pharmacy and launch a blockchain application that aims to reduce pharmaceutical waste. The application will rely on a secure and immediate, time-stamped distribution of information to facilitate the retrieval of unused medications and eliminate potential chain-of-custody issues. The goal of the nonprofit pharmacy is to distribute the unused medication to cancer patients who are otherwise unable to access it.

A new blockchain solution for supply chain also debuted this week with a global technology company's launch of its proprietary blockchain-as-a-service application. The service reportedly has a few early adopters that were able to launch successful proofs of concept to address product tracking and traceability issues. A 30-day free trial of the service is available now, and customers can also sign up for a monthly, yearly or multiyear deal.

To read more about the topics covered in this week's post, see the following:

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.