How Provenance is Channeling the Blockchain for Social Good
Aside from its budding use case in overhauling mainstream finance, blockchain technology has also been lauded for the way in which it can help enact social good. Jessi Baker, CEO and founder of London-based startup Provenance, established in the summer of 2013, is hoping to channel the potential of distributed ledgers to do just that. Alongside heading Provenance, Baker is also undertaking a PHD investigating new technologies to build more transparency into supply chains - the lack of which, she said, brings about most of the world's social and environmental problems. "One of the big....
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Provenance, a UK based blockchain supply chain traceability solution provider intends to fight illegal fishing and associated human rights violations. The applications of blockchain technology are proving to be endless. Name a challenge and it can probably be solved using Bitcoin’s underlying technology. Provenance, a social enterprise has proven it by adopting the technology for supply chain management, effectively tackling illegal fishing and human rights abuses. Project Provenance Limited, based out of the United Kingdom offers blockchain based supply chain transparency and traceability....
The Provenance Blockchain Foundation launched its new, open source proof-of-stake blockchain in May. Shortly thereafter, parent company Figure Technologies announced a $200 million Series D funding haul. Provenance will utilize Bison Trails’ infrastructure to strengthen its network and provide support to Hash holders to run validator nodes, according to June Ou, the executive director at Provenance Blockchain Foundation. Hash is the native cryptocurrency of the Provenance blockchain, serving both as a medium of payment as well as a governance token. “We’re proud to support Provenance in....
Blockchain technology has been garnering a lot of attention these days, after years of staying in the shadow of the actual cryptocurrency bitcoin. Blockchain is the public ledger of bitcoin transactions, which are stored and verified by a network of computers solving complex algorithms, and is seen as a potentially disruptive technology in various sectors. While the applications of blockchain in finance and banking have been popping up, Microsoft has ventured to explore how it can be used for social good. These were discussed at an event hosted by Microsoft's Civic Innovation team in New....
De Beers, one of the leading diamond-producing companies globally, recently announced the deployment of its blockchain-based diamond source platform at scale. The platform will “enable the provision of provenance information from source to Sightholder to store on a secure blockchain.”
Immutable Record of a Diamond’s Provenance
One of the world’s top diamond miners, De Beers, recently said it had deployed a blockchain-based diamond source platform at scale. The platform, which is known as Tracr, gives the so-called sightholders the ability “to....
Blockchain technology is said to provide more efficiency and transparency around real estate investment management. Alternative investment firm Colchis Capital will utilize Bison Trails’ Provenance blockchain to enhance its real estate asset management services, demonstrating yet another promising use case for distributed ledger technology. Through the partnership, Bison Trails will provide the San Francisco-based Colchis Capital with node infrastructure that can be used to enhance its investment strategies, the companies announced Tuesday. Provenance is said to bring more efficiency and....