Isle of Man Tests Blockchain Prototype for IoT
The government of the Isle of Man has announced its latest blockchain proof-of-concept. Profiled today in Financial News, the project is a collaboration with blockchain startup Credits that finds the two partners exploring whether the technology can be used to help keep Internet of Things (IoT) devices from being compromised. Credits co-founder Nick Williamson told the new source that the idea behind the project is to assign unique identities to physical items, thereby creating a way of affirming their authenticity. Williamson told the publication: "The idea behind [the experiment] is....
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The Isle of Man government is researching and developing blockchain technology to create synergy with the Internet of Things (IoT) concepts. Isle of Man and Credits Will Develop Blockchain Prototype for IoT. The Isle of Man, a self-governing Crown dependency located in the Irish Sea, has always been very progressive when it comes to Bitcoin and....
The second country that we will take a closer look at is the Isle of Man. The Isle of Man is nestled between Ireland, England,Wales and Scotland. It has been a haven for online gambling companies for a couple of years now. However The Isle of Man is looking toward the future like an open minded country should. There has been quite a storm about the Isle of Man’s decision to become a “pro digital currency”. Some have condemned this choice, while others applaud the innovative aspect and calling this step a “historical” one for digital currencies and Bitcoin in particular. To celebrate and....
The Bank of Russia has developed and tested on an Ethereum-based blockchain prototype called ‘Masterchain’ for financial messaging, to be used by banks in Russia. The Bank of Russia, the country’s central bank, has developed a technical prototype called ‘Masterchain’. The prototype is based on distributed ledger or blockchain technology for the Russian financial market, an announcement by the bank revealed yesterday. The blockchain platform prototype was developed for financial messaging between banks in the Russian financial system and was put to the test. The announcement added: The....
Germany’s central bank has built a new blockchain prototype focused on securities trading. The Bundesbank developed the prototype in partnership with exchange operator Deutsche Börse, with further testing between the two sides planned over the next few months. The German central bank said today that the project constitutes the first joint initiative with Börse, describing it as “purely a conceptual study”. The prototype is said to enable the transfer of both electronic securities as well as “digital coins”, as well as functions for coupon payments and the redemption of mature securities,....
Known as the Bitcoin Island, the Isle of Man is turning its attention to blockchain to boost its FinTech and digital payments sector as it continues its efforts at establishing digital businesses on the island. After the Isle of Man’s Gambling Supervision Commission (GSC) and Treasury approved changes to the island’s gambling regulation last year, allowing currencies such as bitcoin to be accepted as cash, the island is hoping the adoption of blockchain applications will give the island the push it needs to further establish itself. Brian Donegan, from the Isle of Man Government Department....