Friday, 07 August 2020

The Singapore Shipping Association (SSA), the International Chamber of Commerce (ICC) and Singapore tech startup Perlin have teamed up to build an advanced digital blockchain ship registration preparation system for international adoption.

Private Key management is the Achilles Heel of blockchain applications. The loss of a private key represents a single point of failure. Indeed, most of us have heard nightmare stories of users losing their private key and consequently all of their crypto assets, never to be recovered.

Since 2018 when the World Economic Forum declared that blockchain would be among other technologies defining the emerging revolution, there has been a lot of scepticism around what it can do that cannot be done with existing systems.

At the highest level blockchain proponents say that distributed ledger technology (DLT) has the ability to safely, and immutably, transfer data, payments and … well , seemingly any exchange of value and information that one might envision.

The bank industry is one of the most attackable fields. It requires high security and there were invented many solutions striving to solve this problem (for example, Microservices). But maybe we are already witnesses of it?

On August 27, the Credits Blockchain platform announced the launch date for the partial swap. This includes the migration of tokens from the Ethereum Protocol to the Credits Protocol, which will allow the holders to use the Credits Platform software for the first time and become fully-fledged participants.

When new technologies are difficult to understand, they can take on their own mythology. For years, blockchain has been synonymous with Bitcoin and the seedy underbelly of the dark web. Our reporter offers a bit of clarity.

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