Announcing David Chaum’s Elixxir: First blockchain capable of meeting the needs of consumer-scale messaging and payments — Elixxir — “The Elixxir blockchain can scale to hundreds of thousands of transactions each second, each message or payment delivered or confirmed within seconds, efficiently enabling use as a smartphone app.”
Blockchain
Startup tracks fine art provenance using NFC tags and blockchain registry
A New York technology company is creating a blockchain-based registry of original art and using NFC tags attached to the works themselves to link the physical items to their digital identities. More
Clause to add NFC to smart blockchain contract platform
Thinfilm and Clause collaborate to deliver NFC technology to blockchain smart legal contracts — Thinfilm — “Clause and Thinfilm will use NFC to facilitate the pairing of physical goods to digital contracts through the tap of a smartphone. The resulting connection will deliver key functional and efficiency improvements for customers across the Clause ‘connected contracting’ platform, including contract creation and management, supply chain administration, and invoice/payment automation.”
Japanese carrier KDDI to pilot blockchain coupons that shoppers can redeem using biometrics in stores
KDDI and Hitachi pilot finger vein biometrics for redeeming coupons in stores — KDDI (translation) — “The user can authenticate himself by holding the finger registered on the authentication infrastructure, so it is not necessary to present the coupon at the store, and the coupon can be used even without the smartphone… Since coupon usage information recorded in the blockchain is extremely difficult to tamper with, it is easy to share coupon usage history securely and reliably between KDDI and affiliated stores, and payment according to the number of coupon users is highly accurate.”
Singapore Airlines rolls out blockchain digital wallet that lets customers spend loyalty points in retail stores
KrisFlyer launches innovative miles-based digital wallet, KrisPay — Singapore Airlines — “The SIA Group’s KrisFlyer frequent-flyer programme today launched KrisPay, the miles-based digital wallet which enables members to convert KrisFlyer miles into KrisPay miles instantly for everyday spending at partner merchants… Members can easily turn their KrisFlyer miles into KrisPay miles using the app’s instant top-up function… To pay for purchases, members simply need to scan the KrisPay QR code at the merchant, and key in the amount they wish to pay with their KrisPay miles.”
Barclays files blockchain funds transfer and KYC patents
Barclays seeks twin blockchain patents for banking services — Coindesk — “The US Patent and Trademark Office published two applications by the UK’s second-largest bank Thursday, both of which revolve around account security. Perhaps most notably, however, was an application for a patent which outlined a blockchain platform which could facilitate cryptocurrency transfers. The bank also proposed streamlining know-your-customer processes by storing identifying information on a private blockchain.”
Mastercard patent proposes combining blockchain with existing payments systems
Method and system for linkage of blockchain-based assets to fiat currency accounts — USPTO — “The use of traditional payment networks and payment systems technologies in combination with blockchain currencies may provide consumers and merchants the benefits of the decentralized blockchain while still maintaining security of account information and provide a strong defense against fraud and theft.”
Amex files blockchain proof of payment patent
Systems and methods for blockchain based proof of payment — USPTO — “The system may be used to unlock a hotel, rental, or shared economy property door using the card (eg that was used for the payment) to look up proof of payment on a blockchain… In another example, the system may be used to provide ticketless access to venues (eg movie theater, sports event, concert, etc) to a customer… In still another example, the system may enable access control to rental vehicles (eg bike, boat, or car) to a customer in response to swiping the card.”
Central bank patents point to plans for a hybrid digital currency in China
PBOC filings reveal big picture for planned digital currency — Coindesk — “The ultimate goal, according to PBOC’s patents, is to ‘break the silo between blockchain-based cryptocurrency and the existing monetary system’ so that the digital currency can sport cryptocurrency-like features, while being widely used in the existing financial structure.”
Dubai’s Atlantis resort installs blockchain-based payments system for guests
Atlantis resort rolls out blockchain-based guest payment solution — ITP.net — “The new payment system gives guests at Atlantis either a wristband or a digital wallet to charge all their services during their stay. Details of every transaction are recorded in Lucid Pay, so that in the event of any dispute, both parties are able to see exactly what was charged for. Visibility into transactions will also help in combating fraud.”
Spanish banks to build blockchain customer identity verification platform
The Niuron banking consortium will develop a platform to verify the digital identity of clients — Europa Press (translation) — “For banks, the benefits of this platform translate into an increase in speed, cost savings, reduction of fraud, reduction of operational risk and improvement of the prevention of money laundering. The client, on the other hand, decreases the time necessary during a registration process and has control and sovereignty over their personal data, thus improving their experience.”
Mastercard adds blockchain card verification patent
Method and system for payment card verification via blockchain — USPTO — “The present disclosure provides a description of systems and methods for the conveyance and receipt of payment credentials to and at a point of sale device through the use of a third party data source. The use of a third party data source enables an individual to transact safely without concern for their payment credentials being skimmed from their payment instrument, or without having to even carry a payment instrument entirely.”
Korean banks to launch blockchain identity platform
Banks plan blockchain ID system — Korea JoongAng Daily — “According to the Korea Federation of Banks (KFB), which represents major commercial banks in Korea, ‘BankSign’, a blockchain-based identity verification program, will officially be launched in July… ‘While BankSign will start off by providing the service in the banking sector, we will work with the government and other public organizations to expand its usage,’ said the KFB spokesperson.”
Marshall Islands to issue official digital currency
Marshall Islands to issue own sovereign cryptocurrency — Reuters — “The Marshall Islands will issue its own cryptocurrency that will be circulated as legal tender along with the US dollar… SOV is based on what the Marshall Islands government calls the ‘Yakwe framework’, which requires users to identify themselves on the blockchain, solving the anonymity problem that has plagued bitcoin and precluded its mainstream adoption.”
Japanese bank to pilot digital currency for in-store payments
Mitsubishi UFJ Financial Group, the world’s fifth largest bank, is to invite 100,000 customers to participate in a pilot of MUFG Coin, a blockchain-based digital currency that customers will be able to use to make mobile payments in stores... More
Walmart files blockchain payments data storage patents
Walmart wants to store payment data on a blockchain — Coindesk — “Newly published patent filings from retail giant Walmart hint at a plan to store payments data using blockchain tech. The two applications — published on Thursday by the US Patent and Trademark Office (USPTO) — both reference using a blockchain-powered platform to secure the payment data, ensuring that private information can’t be access by unauthorized parties.”
Emirates NBD rolls out blockchain security platform that adds QR codes to physical cheques
Emirates NBD leads banking sector in cheque security by successfully rolling out ‘Cheque Chain’ at scale — Emirates NBD — “Cheque Chain enables a unique QR (Quick Response) code to be printed on every leaf of newly issued cheque books. The unique code registers each cheque on the bank’s blockchain platform, ensuring that once the cheque is received and cleared under the bank’s ICCS technology, bank staff can validate the cheque’s authenticity and have access to its source at all times. In doing so, this significantly reduces the risk of fraud by making cheque forgery much more difficult.”
Mastercard files blockchain identity patent
Method and system for identity and credential protection and verification via blockchain — USPTO — “The present disclosure relates to the storage and verification and identity and credential data, specifically the use of distributed storage and storage via blockchain for protection of identity and credential data and the verification thereof.”
Korea’s capital city plans its own payments cryptocurrency
Mayor Park Won-soon unveils Seoul cryptocurrency ‘S-Coin’ — Coindesk Korea (translation) — “Park Won-soon, mayor of Seoul, said he will create a coin currency called S-coin that can be used in Seoul… He thinks that ‘blockchains can be applied to all administrations in Seoul such as the public transport system operated by Seoul City and the provision of youth allowance.'”
American Express files faster blockchain payments patent
Systems and methods for blockchain based payment networks — USPTO — “A system, method, and computer readable medium (collectively, the ‘system’) is disclosed for a payment network using a blockchain-based ledger that is configured to execute payment transactions in response to blockchain requests… In various embodiments, the system may assess a risk associated with the transaction. The system may also approve the transaction in response to the risk associated with the transaction being acceptable. The system may also transmit a notification (eg a push notification) to the payee digital wallet that the transaction was successful.”