Altcoins

Layer 2 Scaling Solution Polygon Partners with Cere Network to Launch DaVinci

The development of Web 3 based applications and their adoption has skyrocketed in the last few years, with more and more projects optimizing their services for the new generation of the internet. The popular Layer 2 scaling solution Polygon has also joined the hype by partnering with Cere Network to launch DaVinci. DaVinci is a Web3 media platform that offers perks from subscription NFTs and exhibitions from creators in the virtual and real world. 

Cere Network is a decentralized data cloud platform that is the world’s first blockchain-based storage solution. On the other hand, Polygon is a popular Layer 2 scaling solution utilized by a variety of projects to launch their tokens and services. Together, Polygon and Cere Network have developed DaVinci with the aim to store non-fungible token-backed assets more securely while ensuring verifiable and decentralized data. 

DaVinci – A Web3 Media Platform

DaVinci is a content monetization platform powered by NFTs and facilitates decentralized data transfers and NFT value transfers. The platform is powered by Cere’s decentralized data cloud that helps it to enable personalized content streaming for NFT holders using smart contracts. DaVinci also leverages Cere Freeport, the NFT mining platform developed on Polygon Network, to sell and mint functional NFTs paired with exclusive content. 

The co-founder of Polygon Network, Sandeep Nailwal, had some interesting thoughts about DaVince. 

“There is so much more that artists and fans are able to accomplish and access through DaVinci that realizes more of the potential of blockchain to the mainstream consumers. Artists and brands get more revenue from their unique content, while fans get better experiences and secure delivery of their assets.”

According to the press release, DaVinci will have several benefits and will offer the creators a share of the royalties from any sale and a guarantee of continuous delivery of exclusive content. Moreover, creators can also access detailed audience research and analytics tools to curate their content to NFT holders and fans. 

DaVinci will be a revolutionary addition in the NFT and Web3 space and will help creators and users to engage in a more personalized and rewarding way. 

Bloom aims to help DeFi go mainstream with launch of OnRamp

Bloom—a blockchain platform focused on digital identity and reusable, verifiable credentials is aiming to help DeFi go mainstream by enabling compliance and risk assessment with their new enterprise product, OnRamp

As DeFi’s growth has exploded over the past year, so has the pressure to abide by traditional financial rules that many blockchain builders view as antiquated and in conflict with the core principles of user privacy and decentralization. Over the last few months in particular, it’s become clear that regulators aren’t backing down and that more regulation could be coming. 

In a speech published by Bloomberg, US regulators stated “the crypto space’s evolution from here will rely on sound regulation—something that some major crypto platforms and their executives, including FTX CEO Sam Bankman-Fried, have publicly acknowledged themselves. “At the heart of finance is trust”. 

The Future of Trust

Bloom’s thesis is that digital identity and reusable, verifiable credentials are key to establishing a new system of trust, where user privacy, security, and control are prioritized. 

Bloom was founded in 2017 by Stanford computer scientists in response to the Equifax scandal when hackers gained access to the private information of 147 million US citizens.. 

In 2018, Bloom released its iOS app, giving users the ability to create and control their own digital identity (BloomID) and connect pieces of personal data to it, verified by trusted third-party data attestors. 

In 2019, Bloom released the Android version of the app, followed by the release of Bloom Radar, a free hack monitoring service. Users were given the ability to enroll in this service without compromising their data or enabling its sale to outside parties. This ability attached a tangible value to their reusable verifiable credentials (VCs). 

In 2020, Bloom created more value for BloomID holders by partnering with TransUnion to enable free credit monitoring, again without compromising or selling user data. 

Fast-forward to 2021. Global user privacy is at greater risk than ever before. Hackers are a greater threat than ever before. The T-Mobile hack just this past month exposed the private data of more than 50 million users. At the same time, the DeFi space is growing quickly but also facing headwinds. It’s in the midst of all this that Bloom thinks they have a solution.

Taking DeFi to the Next Level

With OnRamp, Bloom hopes that making reusable, verifiable credentials accessible to developers will help unleash the full potential of DeFi, creating a key piece of the infrastructure for KYC & AML compliance and risk assessment.

“Cryptocurrency is the wild west of our financial system and desperately needs rules of the road and common-sense oversight in order to protect the stability of our financial system,” said Senator Elizabeth Warren

Bloom hopes to help bridge the gap, by building tools that help DeFi companies seek compliance while at the same time prioritizing user privacy and continuing the pursuit of expanding global financial inclusivity.

Other limiting factors also exist. While DeFi has grown quickly, it’s remained mostly reliant on collateralized lending which limits access to asset owners. With the addition of alternative financial signals like bank account balance and transaction history, DeFi companies can now enable risk assessment and transcend the limits of collateralized lending. Bloom has future plans to include traditional credit scores, utility bill payment history, and other alternative signals that could help DeFi better evaluate creditworthiness and expand financial inclusivity.

 

Union Chain – A DAO for Agribusinesses

Cryptocurrencies has brought about a revolution that started with Bitcoin. As the market evolved, more platforms were created and specialised use cases were built on Ethereum platform. These use cases cater to different industries that have specific inefficiencies and lack of transparency.

Agriculture is one such sector. It is highly disorganized, very difficult to maintain standards, dealing in perishable products, have long supply chain but short shelf life, complex transport networks and require coordination amongst thousands of suppliers and logistics providers before the produce can reach the consumer.

Union Chain is a blockchain based solution that aims to create a Decentralised Autonomous Organisation (DAO) to bring about immense efficiencies in this market.

The Market

The agriculture supply market has many problems but Union Chain is currently addressing three major ones:

Food Safety

Food safety is a major concern with dipping quality, lack of standardisation of produce, problems of pilferage, traceability, poor storage conditions and counterfeiting. Food is such a perishable item that if it is not delivered in time and transported in the right conditions, it will lose its value and can even harm the consumer creating a possibility of lawsuits for the provider.

Low Production efficiency

Production is mainly done in small farms without any efficiencies that come with scale. The means of production are outdated and little or no automation or equipment is used in the production.

Industry finance and credit

There are very few avenues for credible organized finance to this sector. Since it is comprised of small scale businesses, they do not have access to finance. Their operations are largely scattered and that creates another problem in getting new loans to buy equipment or new seeds or any raw material that is required to have a good yield.

The solution

Union Chain was born out of the need to solve these three problems of this multi-billion dollar market. By using blockchain-based solution with the help of Artificial Intelligence, big data, Internet of Things (IoT) and cloud computing.

Internet of Things for data collection

With agricultural produce, it is difficult to track because it is difficult to gather all the data at production, verify it at storage and at the end consumer’s end. Union Chain aims to do this by using the latest Internet of Things technology. This technology involves installing micro-sensors to the packaging and it can be scanned and tracked anywhere in the supply chain thereby providing a bird’s eye view of all the produce at any given point in time. This prevents the produce for going stale, deters counterfeiting and is easy for all access points to use.

Decentralized Autonomous Organisation

One of the problems in agri-business is the involvement of too many stakeholders. Cooperation and coordination amongst so many stakeholders is a huge problem. Union Chain solves this problem by creation of a DAO, an organisation that is run by the people who are its stakeholders and is governed by the rules built on the blockchain. DAO is one of the biggest innovations in the blockchain industry and is being used to ensure the governance is fair and that all stakeholders can participate in a fair market.

Here, a DAO lowers the cost of transaction, breaks across barriers and facilitates easy transactions. The entire DAO will be governed by Union Chain token and the economy will be supported by immutable transactions on the blockchain.

Credit facilitation

Union Chain upgrades the banking finance and credit system. With standardisation and decentralisation, the assets will be divisible and can be owned in part by any actor in the tokenised economy. This brings in the possibility of scale and efficiencies that come with scale.

Union Chain will also have Smart Contract based offerings based on the data provided by each farmer. So if a farmer is worried about bad weather, they can purchase an insurance to cover that via Union Chain. The smart contracts are a part of the DAO and can be paid by the token economy and if there is a casualty, the DAO will also pay the farmer by the tokens. This facilitates provision of services without having to go through the red tape and paperwork.

Technology

The technology is built on four layers – the application layer, the contract layer, dialogue layer and the contract layer.

Union Chain will provide a Smart Wallet, an information system that will provide a view of the end-to-end data in the system, the hardware needed to install and run the systems in an integral way.

An agricultural brain is built-in the solution to provide a complete networked infrastructure on top of the industrial and commercial hardware that various players at each stage of the supply chain will be using.

UNION Token

UNION token is the fuel of this futuristic economy. There will be 1 billion tokens out of which only 20% will be sold to the public.

Conclusion

Union Chain is an exhaustive technology platform that covers every detail and stakeholder in the agriculture supply chain. With the integration of various technologies right from blockchain to AI to big data and the Internet of Things, the future of agriculture can be easily visualised to be efficient and transparent. The economic model that will be fuelled by the token UNION will ensure there is liquidity, trust and transparency. The sector’s needs are addressed in the perfect possible solution.

All you need to know about the India Dapp Fest’, a mega event on Blockchain

After a lot of hurdles, Blockchained India, which is the largest open blockchain community in India, has finally been successful in organizing the India Dapp fest in the year 2019. This fest will be Asia’s biggest blockchain conference. This event will take place in The Lalit Ashok, Bangalore for a span of five days starting 11th-15th June. The objective of this fest is very simple, inspiring and enhancing blockchain technology and bringing forward the ones who love the concept of blockchain to bring this technology as the future-centric innovation in India. And for the same purpose, the Blockchained India’s team is working hard to attract the best opportunities for blockchain, and the innovative minds to work on this mission.

What’s hot in this event?

Here is the list of programs that will take place in the one week program;

The Hackathon: – The first three days of this mega event are purely dedicated to blockchain workshop and hackathon. First, there will be a workshop that will shower some light on skills and techniques that are used by various platforms of blockchain and guidance of what can be the best use of these techniques and skills to build an innovative solution for blockchain related issues. Isn’t it interesting? If yes, then get ready for the hackathon that will be from June 11th to June 13th. But first, go to the official webpage of India Dapp Fest and register yourself for this event.

The Conference: – After the three-day hackathon, there is a grand conference that you’ll be attending for the next two days. It has some very prominent speakers like Jaspreet Bindra, Sunil Aggarwal, Mohit Mamoria, Kashyap Kompella, and many more. However, if you haven’t registered for the hackathon event but really want to attend this, it is simple. You will have to register yourself by visiting the India Dapp Fest website.

What’s More? : –

The focus is on Public Blockchains, Conscious Decentralization, Permissioned Blockchain, and Startups that work on blockchain along with launch of Reports of Digital Asset Regulations Policy.

For more details, visit the India Dapp Fest 2019 website – https://www.indiadappfest.com/

How Centralized is Bitcoin wealth? Visual

Bitcoin prides itself on being decentralized. It’s one of the main things that crypto and specifically Bitcoin supporters use to describe its importance. While that my be true to an extent on the governance and consensus level, its definitely not true on terms of the wealth distribution. No one person, company or group of companies truly control the decision making on Bitcoin, just ask the CEOs trying to push for segwit2x how that worked out. But that doesn’t mean that individuals that control large and I mean large amounts of Bitcoin couldn’t exercise a form of influence over the markets and ecosystems. So what does the bitcoin wealth distribution look like….check out the visual below.

visual from the crew at howmuch.net

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