Nonfungible tokens, or NFTs, are digital records of the ownership of assets. The asset types most commonly associated with NFTs are digital assets, such as artwork like memes, GIFs, or gaming characters or properties. Assets represented by NFTs, however, may be digital, physical, tangible or intangible. Examples of asset types that have been transferred or that have had their ownership recorded utilizing NFTs include sports memorabilia, copyrights in music, artwork and real estate. Intellectual property assets and, specifically, the ownership and transfer of ownership of patents may also be recorded and transferred as NFTs. Related: Nonfungible tokens from a legal …

With counterfeit Australian coronavirus vaccination certificates circulating online, local experts are calling for the national rollout of a blockchain-based vaccine passport to ensure the efficacy of the country’s “Covid certificate” system. A report in The Australian cites fraudsters who claim to have sold more than 200 fake COVID-19 certificates for $120 or more each while receiving interest from at least 900 other prospective customers. The fraudsters promote their products as being so convincing that “You’ll be the only one to know you’ve not been vaccinated,” claiming that they can arrange for doctors to enter false vaccination records into the Australian …

Real-world use cases and delivered value are important when evaluating the long-term prospects of a cryptocurrency project, and this is especially true in down markets when sentiment is low and the possibility of an extended bear market is a reality. One project that has been gaining momentum over the past month despite the market-wide downturn is Quant (QNT), an interoperability-focused project designed to help enterprises integrate and operate distributed ledger technology (DLT). Data from Cointelegraph Markets Pro and TradingView shows that following a brief dip to $44 on June 22 as the entire crypto market faced a sell-off, the price …

Big Four accounting firm KPMG has partnered with Australian property developers Mirvac to develop a blockchain-based platform to track the provenance of buildings. The platform was commissioned by the New South Wales state government. Taking inspiration from supply chain initiatives to track beef products using blockchain, the platform will allow property insurers, investors, and owners to access verified data on the resources, subcontractors and building processes employed during a property’s construction. A working model is slated to go live within six months and will be piloted on existing buildings that are undergoing rectification amid the recent flammable cladding crisis, in …

It is a given that connected devices need reliable, distributed ledger, technology-based digital identity solutions. That is an essential requirement for the Internet of Things (IoT). In the machine economy, devices must be able to recognize and communicate with one another; robust identity management solutions are key to effectively securing data and processes. But what about the multitude of analog “things” all around us? Surely they can also benefit from the advent of digital identity. Imagine the following: You are just back from a grocery run or a walk in the park with your pooch when you suddenly realize the …

The time has come to fight against the dominance of the internet giants. In Europe, various regulations have been announced that aim to force these giants to respect more healthy rules of the game and to be more protective of users' rights and of competition. Some even brandish the threat of dismantling some of the tech giants, a weapon of mass destruction rarely used in history. Is an alternative path of a truly decentralized internet possible? Hyperpower A handful of companies hold a virtual monopoly within the internet in critical areas of services (search engines, email, etc.), infrastructures (global transit, …

The roadmap to Iota 2.0 has reached another milestone as the Iota Foundation launches the Nectar DevNet. In a blog post published on Wednesday, the Iota developer announced the news of the Nectar DevNet launch, which forms an essential part of the preparatory work for the release of Iota 2.0 slated for late 2021. The Nectar DevNet follows on the heels of the Chrysalis upgrade and is an expansion of the Pollen Testnet released back in June 2020. The Iota 2.0 DevNet sets the stage for the transition to a feeless, permissionless and fully decentralized Tangle network. According to the …

It appears that “r/wallstreetbets” favorite meme stock company GameStop is in the process of developing its own NFT marketplace. Oh wow, @GameStop is launching an NFT platform https://t.co/3lkqgJTiwS pic.twitter.com/3BT1Szo9qJ — Brad Michelson (@BradMichelson) May 25, 2021 While an official announcement hasn’t been made, the gaming giant appears to have launched a website named “nft.gamestop” — and is currently on the lookout for recruits: “We welcome exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders. If you want to join our team, send your profile or something you've built to: [email protected].” Information on the bare bones website is sparse. …

Big Four accounting firm Ernst & Young is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications. On Monday, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance applications. “The new iteration supports multiple new capabilities that are expected to be used in complex DeFi contract ecosystems,” EY announced, adding: “It offers a blend of compliance testing with traditional code review, and it supports customized …

How can this CBDC design trilemma be overcome? An identity-based, meta-blockchain can achieve all three design goals of identity, privacy and programmability. While blockchain systems can be structurally decentralized, the operation itself can be very much centralized and sequential. The problem lies in how transactions cannot be processed in parallel — and multiple smart contracts cannot be operated simultaneously. A meta-blockchain that can operate smart contracts in parallel could be the answer here, as it can ensure that a user’s information is kept secret at all times. SovereignWallet Network (SWN) Global believes it has found the solution for tackling the …

John Whelan, the head of Banco Santander’s blockchain lab in Madrid, recently touted the potential for increased decentralized ledger technology adoption in mainstream finance. Speaking during a webinar organized by Fintech Surge and the Future Blockchain Summit on Wednesday, Whelan remarked: “I could imagine a future where there is a global settlement network for an asset class of securities that operates in a fully controlled, private, permissioned layer-two on top of a public blockchain network.” While acknowledging that current public blockchain networks might not be optimized for high-frequency transactions, Whelan highlighted their suitability for settlements in the financial services arena. …

While the agricultural industry stands to reap enormous efficiency savings through the adoption of distributed ledger technologies, many farmers lack the digital infrastructure to support the integration of blockchain solutions. Speaking as part of Australian Blockchain Week on Wednesday, Bridie Ohlsson, CEO of digital agricultural infrastructure provider Geora, discussed the challenges associated with fostering DLT adoption within primary industries. “In ag tech, it's been a problem of not having enough infrastructure, not there not being a use case,” she said. “As long as we have farmers calling up and saying, ‘Hey, your product looks great, but I don’t have internet …