Will Provenance Be the Blockchain's Break Out Use Case in 2016?
2015 may have been the year that financial institutions embraced blockchain technology, but as we move past the hype and the inevitable slump, it's best to focus on what today's blockchains can actually accomplish. One of the main appeals of blockchains among enterprises is the notion of a value network, where parties can transfer custody of valued assets in an auditable manner without relying on intermediaries. The recognition that these assets don’t necessarily have to be currencies, but that they can be any kind of financial instrument, has opened up new possibilities for innovation.....
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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....
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....
The use of blockchain data to establish provenance for artwork has attracted the attention of more than a few innovators and engineers in the space. Now, professional services firm Deloitte has unveiled its own approach to the use case. The art world has explored the use of bitcoin and other blockchains to track provenance for some time, and the concept has drawn attention of digital creatives as well. Ultimately, the goal is to both ensure authenticity of an artwork and trace the history of ownership and use of that work. Deloitte’s proof-of-concept, dubbed ‘ArtTracktive’, was developed....
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....
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....