‘We can’t keep putting band-aids on the current system’ — OKX
OKX launches a new campaign calling for rewriting centralized legacy financial and digital systems using blockchain technology and Web3 solutions.
Čítaj viacpodľa Cointelegraph By Gareth Jenkinson | máj 11, 2023 | 0 |
OKX launches a new campaign calling for rewriting centralized legacy financial and digital systems using blockchain technology and Web3 solutions.
Čítaj viacpodľa Cointelegraph By Onkar Singh | mar 27, 2023 | 0 |
Digital identities can help in fake product detection by providing a unique and verifiable identity to each product, making it easier to track its movements through the supply chain and verify its authenticity, thereby preventing the circulation of fake products. In the modern era of e-commerce, the problem of fake products is prevalent, and it poses significant risks to both consumers and manufacturers. However, digital identities can play a crucial role in detecting and preventing fake products from entering the market. Digital identities provide a secure and reliable means to validate the origin and ownership of a product. Manufacturers can establish a verifiable record of a product’s validity by registering it with a digital identity. As technology makes it easier to trace and confirm the authenticity of products, this record can aid in preventing the entry of counterfeit goods onto the market. The movement of goods through the supply chain, from the manufacturer to the final consumer, can also be tracked using digital identities. This increases visibility and openness throughout the whole supply chain, enabling more effective tracking and management of the product’s journey. In turn, since any irregularities in the supply chain may be found and looked into, this can aid in preventing the entry of fake goods onto the market. Continuing the example of fake medicines, let’s understand how digital identities can be used in the healthcare industry. For instance, for each batch of medication they generate, pharmaceutical firms can construct digital identities that include details such as the producer, the date of production and the specific serial number of the medication. A blockchain could be used to store this digital identity, establishing an unchangeable and impenetrable record of the medicine’s validity. Decentralized storage allows users to store their own credentials on their devices, giving them full control and making their identities self-sovereign. This allows for greater interoperability and protection against being locked into a single platform. Before distributing medication to patients, pharmacies, hospitals and other supply chain distributors could use digital identification to confirm the medicine’s legitimacy. This may aid in preventing the distribution of bogus medications that might be harmful to patients. Digital identities can also be used to monitor and manage the flow of pharmaceuticals more efficiently by tracking them as they move through the supply chain.
Čítaj viacpodľa Cointelegraph By Sarah Jansen | dec 9, 2021 | 0 |
A successful securities-specific blockchain fills all gaps in the current Ethereum architecture by providing efficiency, automation and transparency. Aligning a functioning blockchain with the needs of modern capital markets will require solutions to governance, identity, compliance, confidentiality and settlement. To address these gaps, Polymath has spearheaded the creation of Polymesh, an institutional-grade, public, permissioned blockchain built specifically for regulated assets. In practice, the platform aims to address these five challenges by: Requiring users to validate their identity with a verified service provider when they are initially onboarded Automating the compliance of assets in a transparent and real-time manner to simplify their reporting and remove the need for complex systems Implementing a confidential transaction workflow that allows cryptographic proofs to be safely mixed with off-chain declarations. Operating under the governance of a main council and a set of specialized sub-committees Addressing the probabilistic finality that currently prevents the technology from acting as a golden ownership standard Taken together, a securities-specific blockchain will address these five key gaps that exist in Ethereum’s architecture. A securities-specific blockchain will also provide increased efficiency, automation and transparency to capital markets in general. These three factors will act as significant improvements in bringing down the costs and time for existing asset classes and processes. The result will be lower fees, new investable asset classes, more exciting options for investors. Polymesh launched on Oct. 28, 2021, following a successful incentivized testnet with more than 4,300 users. Users can now use the chain to create, issue, and manage security tokens as well as participate in on-chain activities like governance and staking. Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.
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