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World’s Top Vehicle Manufacturers is Leveraging Blockchain-Based “Birth Certificates” to Combat Used Car Fraud

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World’s Top Vehicle Manufacturers is Leveraging Blockchain-Based “Birth Certificates” to Combat Used Car Fraud

According to the latest announcement, Mobility Open Blockchain Initiative, a member-led consortium that works to create and promote high industry standards for smart mobility Blockchain adoption, has launched an initiative in order to track the purchase and maintenance of the history of second-hand vehicles.


Mobility Open Blockchain Initiative (MOBI) is aiming to combat used car fraud with Blockchain-powered “birth certificates.” 

Established in 2018, MOBI missioned to accelerate the adoption of Blockchain technology in the automotive domain.

It was reported that the initiative will utilize distributed ledger technology, Blockchain, to track the registration of vehicles and maintenance history using “VID II,” which is MOBI’s second vehicle identification standard. 

Apart from the automotive industry, other use cases for VID include supply chain, autonomous vehicle data exchange, supply chain, etc.

MOBI’s VID II is co-chaired by the world’s top vehicle manufacturers BMW and Ford. Other supporting initiatives are IBM, Quantstamp, Honda, Hitachi America, AutoData Group, Bosc, Quantstamp, among others. 

How will VID II Help?

According to the report published, the initiative will help reduce fraud in the second-hand vehicle markets and maintain traceability.

The report further revealed that on the Blockchain, vehicle registration grants previously disconnected vehicle registration systems between states and countries to connect using a distributed shared ledger. Furthermore, maintenance traceability will offer a tamper-proof history. 

MOBI COO and Co-Founder Tram Vo expressed his opinions regarding this initiative. He stated that he expects this automatic network for frictionless transfer of value in the New Economy Movement to bring millions of opportunities and possibilities to monetize vehicles, services, and infrastructure.

BMW’s Andre Luckow, believes that the reference architecture in the VID II standard is a key building block in reconstructing a frictionless mobility ecosystem.

Cynthia Flanigan, Director, Vehicle Research and Technology, Ford Research and Advanced Engineering, also believes that this research into vehicle identity technology could bring better opportunities in terms of ownership and help clarify the purchasing process in the near future.

It is believed that the VID standards, along with other MOBI standards for Blockchain applications in the mobility ecosystem, will increase mobility services and lessen frictional inefficiencies to a great extent. 

To get instant updates about Blockchain Technology and to learn more about online blockchain certifications, check out Blockchain Council.

World’s Top Vehicle Manufacturers is Leveraging Blockchain-Based “Birth Certificates” to Combat Used Car Fraud

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Blockchain Governance in Estonia may be Inspiration for the Entire World

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Blockchain Governance in Estonia may be Inspiration for the Entire World

This article talks about how Estonia has implemented the Blockchain for various purposes, especially in governance, creating inspiration for the rest of the world. 

Table of Contents 

  • Estonia: The First Digital Republic in the World 
  • Tiger Leap for the Development and Expansion of Internet Network
  • How the Estonians Way of Voting is Unique 
  • Other Ways Estonia is Utilizing Blockchain
  • Concluding Lines 

Estonia: The First Digital Republic in the World 

Estonia is a small nation in the Baltic region that offers the most widespread governmental online services in the world. Right from voting to healthcare and tax returns, the small nation has persistently adopted the concept of digitization. And this is the reason it is recognized as a ‘digital republic.’ Since 2005, the citizens of the nation are able to cast their vote digitally, and surprisingly, Estonia has digitized 99% of its public services, including tax returns, voting, healthcare treatments, and much more. In an era when trust in government services is declining, Estonians have a higher level of trust in their government and parliament than the EU average, according to the Eurobarometer study conducted back in 2014. 

Estonia is implementing Blockchain technology for governance, and this is the reason why it outperforms compared to other countries in terms of online governmental services. 

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Tiger Leap for the Development and Expansion of Internet Network

The invention of a digital society started in the year 1997, when only 1.7% of the world’s total population had access to the internet. The government of Estonia envisioned creating a digital society where all citizens would be technologically educated, and governance would be automated, decentralized, transparent, and secured. Keeping in mind the aims, the government launched a project called Tiigrihüpe, also known as ‘Tiger Leap’ in 1997, spending heavily on development and the expansion of internet systems and creating a knowledge-based society. Within a year, almost all schools gained internet access, and by 2000, Estonia became the first country to pass legislation declaring internet access as a basic human right for all citizens.

In 2001, Estonia created X-Road, an anti-silo data management system to enable both public and private organizations to share data securely without worrying about privacy. But this effort was dissipated as it was seen that X-Road experienced various cyber-attacks. This presented a need to adopt more powerful and advanced technology such as distributed ledger technology that is resistant to cyber-attacks. Thus, keeping in mind, the nation became the first country in 2012 to use blockchain technology for governance purposes.

How the Estonians Way of Voting is Unique 

Estonia is considered to be a world leader in electronic voting. This is because, since 2005, Estonians are able to cast their votes irrespective of their geolocation. Where most countries are still only contemplating the possibility, Estonia has already implemented a remote voting system using Blockchain for voting purposes. 

The tiny Baltic nation of Estonia has redefined its ‘Estonia’s i-Voting system’ that allows citizens to cast their vote from a remote location using a government-issued smart card. Unlike traditional voting mechanisms, this voting system offers a simple, elegant, and secure solution and is currently used by 46.7% of the population.

This system allows Estonia citizens to log on with their digital ID card and cast their votes multiple times during the pre-voting period, with each vote canceling the last, empowering voters to change their voting decision later. This unique solution has safeguarded Estonian voters against fraud and other manipulations. It was stated that while using this electoral system, the total time saved in the last elections was 11,000 working days.

Other Ways Estonia is Utilizing Blockchain

Apart from voting, there are other ways the tiny nation is utilizing DLT. Deploying Blockchain not only ensures protection against cyber attacks or any kind of future attacks but also poses other benefits. For instance, instead of filling the different forms with the same personal information when they need to access public services, citizens only need to input their personal information once with Blockchain. This is because technology ensures that data is immediately accessible when required.

Moreover, citizens have a valid digital ID, and they have full control over their information, ensuring that no one can access their personal data beyond what is approved by them. This is facilitated by Blockchain technology.

If you want to gain an in-depth understanding of Blockchain technology and become a Certified Blockchain Developer, we are here to assist you!

Concluding Lines 

From the above discussion, we can conclude that the Blockchain governance of Estonia may be an inspiration for the entire world. The future of Blockchain is near, and if implemented on a global level, we will experience a world full of transparency and trust. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Blockchain Governance in Estonia may be Inspiration for the Entire World

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Mexican Companies Looking for Blockchain/Crypto Mass Adoption

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According to the latest announcement by the report called “Encryption Trends in Mexico 2020/2021,” Mexican companies are looking forward to adopting Blockchain technology and cryptocurrencies. 

The study was published by a private research center, the Ponemon Institute, that indicated around 40% of companies in Mexico were eager to implement distributed ledger technology, Blockchain, and cryptocurrencies in some form. The report further mentioned that out of this percentage, 71% of companies were focused specifically on cryptocurrency usage.

Encryption Trends in Mexico 2020/2021 surveyed a total of 353 representatives from companies throughout Mexico.

Founded in 2002, Ponemon Institute was introduced by Dr. Larry Ponemon. Headquartered in Michigan, it is a private research organization that focuses on privacy, data protection, and information security policy. 

High Tide for Blockchain/Crypto Adoption

A report also suggests that out of 71% that were focused specifically on cryptocurrency usage, 51% of these companies were determined to implement Blockchain for managing assets and handling transactions. Apart from this, it was also seen that around 37% of companies expressed their interest in implementing smart contracts to bypass regulations and lower the costs of financial transactions.

Mexcian companies are adopting Blockchain in order to improve their security systems and guarantee proper encryption strategies. The protection of customer information is the main reason why organizations are adopting Blockchain technology. 

Mexican’s Active and Ongoing Role in Blockchain Space 

Mexico, the country which is less heard for Blockchain and crypto adoption, has started utilizing this technology for several purposes.

In the first week of September 2020, it was announced that Mexico plans to enable an electronic voting system based on Blockchain technology for Mexicans residing abroad so that they can participate in elections next year.

The blockchain-based voting system will not only provide authentication of the identity of the voter but will help in maintaining the integrity of all protected data and counting of votes. The cryptographic encryption is also provided in order to keep the votes secret.

Moreover, in August 2020, it was also seen that Mexico achieved a historic investment of more than USD 1,300 million in the fintech sector, whose part of these funds went toward the development of Blockchain technology.

According to a recent study conducted in the first week of October 2020, Latin America represents 7% of the entire global cryptocurrency economy, and out of this, Mexico has taken almost 11% of all retail crypto payments since July 2019. It was also noted that Mexico is leading the way when it comes to retail crypto transactions. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Mexican Companies Looking for Blockchain/Crypto Mass Adoption

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China’s Blockchain-Based Hospital to Figure Out Best Ways to Guarantee Data Security

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As China’s first blockchain-powered hospital is set to launch next year, few government officials have raised their concerns regarding data security and privacy issues. 

According to the statement by Cn-Healthcare, the First Affiliated Hospital of Dalian Medical University will launch a pilot program by January 2021. The report also mentioned that if it were not with the integration of blockchain technology, it might be able to launch the hospital six months in advance. As blockchain integration is yet to complete, the hospital will take a bit longer to get launched.

How Integration of Blockchain will Help 

Blockchain is a P2P, distributed shared ledger that holds the characteristics of decentralization, transparency, immutability, and traceability. China’s first blockchain-powered hospital aims to store patients’ treatment information securely on a Blockchain’s network.

Apart from this, it will allow patients to access the “internet hospital” services through the WeChat applet, whose blockchain network stores treatment data and other crucial information. 

Discussions Around “Using or Not Using Blockchain”

Although Blockchain will prove to be beneficial and patients will not feel any inconvenience in the hospital visits, explained Director Niu of the Information Department of the First Hospital of Dayi, but officials of the Ministry of Industry and Information Technology said that they are not convinced that technology is safe. They told hospital administrators that they are concerned about issues related to data security.

There were discussions inside the hospital around “using or not blockchain technology” and Director Niu mentioned that “our information department is facing a lot of pressure.”

There are rising doubts about the launch and integration of this new technology in the health sector domain. The most challenging one is the onset of this integration and how it will affect the majority of people as not many are familiar with the new technology of blockchains.
  

As officials have raised their concerns regarding data security and privacy issues, Director Niu added that the Ministry of Information has decided to examine the Blockchain’s applications from the viewpoint of data security, and also pointed out the direction of development for the technical staff. To come up with the solution, parties are debating about the best ways to ensure data privacy and security. 

Also, China’s President Xi Jinping once mentioned that the implementation of integrated blockchain technologies is fundamental in fostering technological innovation and transforming industries. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

China’s Blockchain-Based Hospital to Figure Out Best Ways to Guarantee Data Security

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Permissionless Blockchain Project, Conflux Network to Act as a Global DeFi Bridge

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Conflux Network has formally launched its Tree Graph Research Institute with the government of Shanghai, according to the latest announcement. This launch will experiment with building a regulatory compliance platform that can bridge global Decentralized Finance (DeFi) applications and government regulations. 

Fan Long, Conflux Founder, and Tree Graph Research Institute Director, claims that DeFi is a new ecosystem that may present a risk to regulators. Therefore, it is crucial to maintain a reliable communication flow between DeFi innovators and the regulators.

With scalability, stability, and extensibility, Conflux is the next-generation Blockchain-based protocol that is dedicated to implementing Blockchain technology with strategic partners in real-world environments and creating decentralized mass acceptance applications.

Conflux Network Aims to Make Open Communication Crucial 

 

Tree Graph Research Institute aims at experimenting with permissionless DeFi applications to make open communication crucial for continued legislative acceptance. 

Fan Long, Founder of Conflux and Director of the Tree Graph Research Institute, mentioned that:

“Regulators need a reliable way to learn what the new technique is about and where it might lead us to. Innovators need a way to understand the concerns and red lines of regulators.”

Conflux is collaborating with the government of Shanghai on many sandbox projects, including the incorporation of Blockchain borrowing and lending services into the Pudong Development Bank of Shanghai, and the utilization of the unique regulatory structure of the Shanghai free trade zone to devise a unique stablecoin for the city.

Permissionless Blockchain Project to Help Developers 

A permissionless Blockchain project, endorsed by the Chinese state, aims to provide developers with a robust and affordable framework to build DApps.

In an interview, Fan Long explained that Conflux Network aims to provide a POW network with a faster order of magnitude for transaction rates. The key enabler technique is a novel DAG-based ledger system along with an optimistic concurrency regulation to achieve easier and quicker transactions between all the nodes in the network.

Fan Long believes that DeFi is a new space for regulators, and therefore the decentralized design of Blockchain would complicate the regulation of DeFi products for regulators. However, there are opportunities to implement controls at the boundary between the decentralized and centralized entities.

Conflux’s Open Defi Initiative 

In order to bring global DeFi projects and regulations together, the company has introduced the Conflux Open Defi initiative. Through global program tracks such as risk management, new liquidity strategies, and incubation and innovation, the open DeFi initiative aims to connect the DeFi markets of East and West. Few prestigious members of the open DeFi initiative include Blockpower Capital, Antelope Holdings, dForce, Sequoia Capital, DeBank, along with the Chinese state support and others.

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.

Permissionless Blockchain Project, Conflux Network to Act as a Global DeFi Bridge

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Indian State of Tamil Nadu Becomes First State to Announce Blockchain Infrastructure Plan

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According to the recent announcement, the Indian State of Tamil Nadu becomes the first state to present a Blockchain infrastructure plan. The idea of revealing new infrastructure is to transform the way government services are provided to citizens.

Chief Minister Edapaddi K Palaniswami highlighted Tamil Nadu as a “Destination of Choice” for the IT and IT-enabled services sector and unveiled the Tamil Nadu’s adoption of an ethical blockchain policy. 

Apart from the Blockchain infrastructure plan, the Indian state also introduced Tamil Nadu Safe and Ethical Artificial Intelligence and Cybersecurity policies in the country.

Talking about Blockchain Technology, it is a Peer-to-Peer, decentralized, distributed ledger technology that mitigates third-party risks. Tech giants and enterprises are adopting distributed ledger technologies like Blockchain to scale their businesses and to leverage one another’s resources and knowledge.

Blockchain Infrastructure to Revolutionize Government Process

In order to revolutionize government processes, the state aims to roll out a project to provide Knowledge Proof Identity-based services delivery. The Chief Minister mentioned that the project would be implemented by leveraging the State Family Database (SFDB) and Blockchain Backbone infrastructure.

According to the Chief Minister,

“This pioneering initiative will take the Government to the Citizens, thus eliminating the citizens’ need to request G2C (government to citizen) services.” 

Blockchain Infrastructure acts as a single source of fact for all government processes and can also be used to re-imagine governance and to promote blockchain use in the state. 

Information Technology secretary Hans Raj Verma believes that these policies are the foundational policies in leveraging AI and Blockchain technology.

Santosh Mishra, Chief Executive Officer of the Tamil Nadu e-Governance Agency, also believes that unveiling such policies is the transformative phase for emerging technologies in Tamil Nadu state.

The state also recognizes the need to set up a forum for Blockchain ecosystem growth by launching the Blockchain Backbone infrastructure to foster collaborations between multiple industries, startups, and academia and create a mature Blockchain ecosystem.

India’s Vigorous Efforts to Adopt Blockchain 

In September 2020, Crypto exchange CoinDCX also announced two new professional training courses, Certified Cryptocurrency Traders and Certified Cryptocurrency Experts, in partnership with Blockchain Council. These certifications will extend CoinDCX’s educational platform, “DCX Learn,” and will allow aspirants practice sessions using the exchange’s interface for simulated trading experience.

During this month, it was announced that Indian IT giant Tech Mahindra is planning to collaborate with Amazon Web Services (AWS) to build Blockchain-based supply chain solutions. It plans to build blockchain solutions for various sectors, including aviation, healthcare, and telecom sectors for global customers. 

Last week, a decentralized notification protocol called Ethereum Push Notification Service (EPNS) was developed by an Indian startup that enables DApps to send push notifications to the Ethereum wallet users. 

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council.  

Indian State of Tamil Nadu Becomes First State to Announce Blockchain Infrastructure Plan

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