According to a press release issued late last week, U.K.-based firm Instant Property Network recently completed a successful simulated trial of a blockchain solution for property sales transactions, powered by the Corda blockchain. A Bloomberg report stated that 40 companies were involved in testing the new platform, including two major global banks. The press release estimated that if the efficiencies demonstrated by the trial were applied to the global property market, it could result in annual savings of approximately $160 billion.
The U.S. Department of Energy (DOE) has begun Phase II of an electrical grid security project that leverages a patent pending blockchain solution to increase cybersecurity in power plants. DOE is working with Colorado-based firm Taekion on the project. According to another recent report, Bitfury and Longenesis have teamed to launch a "blockchain-based consent management system for the healthcare industry" that seeks to improve compliance with the General Data Protection Regulation (GDPR), the Health Insurance Portability and Accountability Act (HIPAA) and other applicable laws. Also this week, the World Economic Forum published an article advocating blockchain as a potential solution for limiting waste and promoting transparency and efficiency in the construction industry.
Late last week, a major global technology firm, a major U.S. bank, a global news organization and a global consulting firm all had patents granted for blockchain-based business solutions. The patents address data management for self-driving vehicles, identity management and validation, authentication of content provider data, and blockchain interoperability.
For more information, please refer to the following links:
- SEARCH ACUMEN PARTICIPATES IN FIRST PROPERTY DISTRIBUTED LEDGER TECHNOLOGY TRIAL
- Mishcon Handles UK's 1st Blockchain Residential Property Deal
- Barclays, RBS Join Blockchain Trial to Speed Property Sales
- NETL-MANAGED PROJECT TO HELP PROTECT MODERN ELECTRIC GRID FROM CYBERATTACKS
- New Bitfury Joint Project to Manage Medical Data Permissions With Blockchain Tech
- Eliminating waste at scale – opportunities for blockchain
- IBM Patents Blockchain Implementation to Manage Data For Autonomous Vehicles
- Mainstream Media Corp. Thomson Reuters Patents Blockchain System for Identity Management
- Capital One Presents Blockchain Patent for Content Validation
- Global Consulting Company Accenture Patents Two Solutions for Blockchain Interoperability
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.