The Federal Communications Commission (FCC) is reportedly exploring the use of blockchain technology to record and monitor the use of Wi-Fi spectrums in connection with internet of things (IoT) sensors and devices. According to reports, the total number of IoT sensors and devices will increase from 21 billion this year to 50 billion by 2022. The FCC aims to use blockchain technology to offer a secure and standardized method to accelerate data exchange between IoT devices and to track radio wave spectrums in order to help resolve airwave distribution scarcity and improve wireless technology development.
Last week, four multinational life sciences and healthcare companies joined the MediLedger Project's Contracting and Chargebacks working group. The working group aims to eliminate friction in the chargeback process, wherein wholesale distributors sell medications at a price previously negotiated with the manufacturer, and parties are made whole on the price difference through a chargeback. MediLedger's protocol aims to resolve information-sharing challenges during the chargeback process by connecting the key parties on a common network and automating contract reconciliation. MediLedger plans to begin testing this protocol in Q2/Q3 2019. According to recent reports, MediLedger has also established a protocol for saleable return drug verification that meets DSCSA regulations.
On Wednesday, Malta's Registry of Companies announced plans to establish a blockchain-based registration system. The Registry of Companies, formerly part of the Malta Financial Services Authority (MFSA), holds official information and documentation pertaining to new and existing companies. Also this week, a major global technology firm released a preview of its blockchain development kit for Ethereum. The kit offers developers the ability to build blockchain applications using the firm's blockchain service or the public Ethereum network. The same firm also recently announced a partnership with the largest bank in the U.S. to promote blockchain application development and accelerate the adoption of enterprise blockchain. According to a press release, through this partnership the firms' customers will be able to build and scale blockchain-based enterprise solutions, with lower costs, simplified distribution and built-in governance enabled through a cloud-based blockchain service platform.
To read more about the topics covered in this week's post, see the following:
- FCC eyes blockchain to track, monitor growing wireless spectrums
- Major Life Sciences and Healthcare Companies Join Chronicled's MediLedger Project Working Group
- Malta's Registry of Companies Set to Run on Blockchain-Based System
- Azure Blockchain Development Kit for Ethereum Released
- P. Morgan and Microsoft announce strategic partnership to drive enterprise adoption of Quorum
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