– Alibaba has filed a patent application for a blockchain-based system that allows administrative intervention into a smart contract in case of illegal activities
– Spencer Bogart, an expert from digital currency and blockchain venture firm Blockchain Capital, said that bitcoin price has nearly found its bottom
– Blackberry will create a secure global ecosystem for the storing and sharing of medical data
– Seoul will massively invest in blockchain industry within next 5 years
Chinese e-commerce giant Alibaba has filed a patent application with the U.S. Patent and Trademark Office (USPTO) for a blockchain-based system that allows administrative intervention into a smart contract in case of illegal activities. For example, when a user performs illegal activities, a court order may be executed to freeze the user’s account.
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Spencer Bogart, an expert from digital currency and blockchain venture firm Blockchain Capital, said that bitcoin price has nearly found its bottom.
“We’re down about 70 percent from our highs, so I think that bitcoin is close to bottoming and so is the rest of the market,” Bogart said on CNBC’s show Fast Money.
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Blackberry will use its carrier-grade network operation center (NOC) to power a blockchain digital ledger, provided by startup ONEBIO, to create a secure global ecosystem for the storing and sharing of medical data. For example, data could be inputted by patients, laboratories, and IoT biometric devices, and then anonymized so this data can be shared with researchers.
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Park Won-soon, the mayor of Seoul, introduced a five-year plan to develop blockchain-based industries in the city, which includes the creation of business complexes and startup funds.
“There’s no doubt blockchain is the core technology of the fourth industrial revolution, which will shape the future IT industry. I will make efforts to help Seoul become the center of a blockchain industry ecosystem,” said Park.