Coronavirus pandemics created new challenges for the business world, so this working week has also been tough and complicated for all of us. The series changes have also impacted the world of blockchain technologies and digital innovations, but we hope that you are safe and healthy staying at home, while we will share with you our weekly digest of news that you might have missed due to an enormous amount of new tasks and challenges.
Let’s start this weekend with an interesting and exciting list of news from the world of blockchain technology.
The world-famous automotive manufacturer General Motors has put forward an application to the US Patent and Trademark Office for a “Decentralized Distributed Map Using Blockchain.”
The main idea of the new blockchain-based application is distributed navigation map for a motor vehicle includes one or more sensors that evaluates and characterizes a surrounding around the motor vehicle and a discrepancy detector that identifies differences in the surrounding compared to a known navigation map based on information received from the one or more sensors. Thus, this new system aims to improve the feedback of mapping around the car.
This patent addresses the complex of issues connected with motor vehicles, including autonomous ones, that require the application of new navigation system with detailed maps, developing the new level of automated driving system that take into account the geographic location of the vehicle and the directions to the defined destination.
One of the leading enterprise blockchain companies Insolar has recently announced their partnership with Canada’s Toronto and Region Conservation Authority (TRCA). They will work together to pilot use cases for distributed energy resources (DERs) such as solar and wind. The main aim of their work is to develop a mechanism complementary to Ontario’s Long Term Energy Plan and boost the use of renewable energy.
Insolar’s Assured Ledger platform will be used to enable the integration of renewable energy sources into the existing electricity system. DERs are often used in local microgrids. But they can also be connected to the local distribution systems to meet excess electricity demands. However, the current scope of DERs is limited, and blockchain is being trialed to redefine the role they play in a connected grid ecosystem.
One of the most powerful companies of China’s largest insurance company, Ping An Insurance, OneConnect has announced the new project together with China Merchants Port Group that will develop a new blockchain-based solution ports in south China. For now, the project is known as the Guangdong-Hong Kong-Macao Greater Bay Area Port Logistics and Trade Facilitation Blockchain Platform Project.
The new blockchain platform will modernize ports services system improve the ports’ trade efficiency and upgrade trade processes. The first phase of their collaboration includes coordinated work on enabling better information and capital flow through a trade blockchain. Implementation of blockchain as a universal source of information, data relevance will grow together with the reliability of all contracts and easiness of adding required information and sharing it across the network participants.
OneConnect will build five databases based on the data from the logistics and trade blockchains. These databases will include information about enterprises, commodities, logistics, contracts, and documents.