Weekly News

Getting to the most romantic weekend of the year, 482.solutions never forgets about sharing our achievements, events and the most significant projects in the world of blockchain technologies. We collect all the most interesting news from all over the world to share with you, and we hope that your weekend will be as exciting and multifarious as our weekly news digest!

Mastercard Joins The Blockchain Education Alliance To Support Blockchain Education and Research

Mastercard has recently joined the working group that supports blockchain education and research in universities around the world. This working group functions in the frames of  Blockchain Education Alliance that was recently founded by blockchain accelerator MouseBelt and has already united 24 member companies, Ripple, Binance, Neo, KuCoin, Stellar, TRON, and Wanchain

The alliance is a part of MouseBelt’s educational initiative focused on training the young generation of blockchain developers in over 80 students’ university associations in all parts of the world. All members work together to create required educational programs through funding and providing their intellectual resources, assisting students and professors in developing an educational curriculum and being aware of the recent industry innovations.

Starting with 17 universities in North America in late 2019, Alliance has expanded its work to more than 70 schools across North and South America, Asia and Europe. The main aim of this project is making long-term investments in the development of the blockchain industry and providing the next generation with the ability to receive high-level education in the sphere of innovative technologies.

Becoming a member of this unity, Mastercard will make emphasis on blockchain for FinTech educational programs. With more than $14 trillion worth of payments every year, Mastercard is currently one of the leading payment providers that has already made several attempts to become a member of the blockchain community, and we hope this one will be a real success.

Blockchain Helps Chinese Insurance Firms to Process Coronavirus Claims 

Chinese companies proceed integrating blockchain to fighting against threats produced by the recent spreading of coronavirus. In particular, Chinese insurance companies implement blockchain to manage coronavirus-related claims. Coronavirus has been added by the Chinese online mutual aid platform Xiang Hu Bao to the list if illnesses are eligible for a one-time payment of approximately $14,300. 

Xiang Hu Bao is an online claim-sharing platform with over 104 million users that is effectively used to process insurance claims in China. To prevent fraud and make the claim processing fast and easy, Xiang Hu Bao implements blockchain per each claim. This saves a lot of time spent on data processing and verification.

 Xiang Hu Bao is a part of Chinese finance giant Ant Financial that has a developed set of customers in the whole region. To optimize the payment method, they use their own mobile payment processing app AliPay that funds the coronavirus victims’ payments with its own funds. 

The US Navy Cooperates With Blockchain Startup Simba Chain

California-based research group of the US Navy - Naval Air Warfare Center has invested $10 million in the elaboration of the secure messaging platform that will be developed by blockchain startup Simba Chain. The platform is to be released later in 2020 with the updates to be added during the following 4 years. 

The US Navy has recently been searching for the solution to secure its inner messaging system, seeking for the company that can effectively solve this issue. They have finally come to an agreement with Simba Chain that will develop a safe blockchain-based communication and transaction system for the Department of Defense. 

The current phase of their agreement is called Small Business Innovation Research, and it will last for five years, while Simba Chain has already received $9,5 million in funding for its implementation and development work. They have already conducted research work and tested their system int the existing platform used by the US Department of Defense. Simba Chain already has experience of working for the US military, developing a blockchain-based supply chain solution for the U.S. Air Force in August 2019.