Major Latin American Development Bank Pilots Blockchain for Land Registry
The Inter-American Development Bank (IADB) is implementing three different blockchain pilot projects to test if blockchain technology is able to solve some of the problems of land titling and registries.
On Oct. 28, blockchain startup ChromaWay reported that it is collaborating with IADB on a two-year project in Bolivia, Peru and Paraguay on an initiative called “Distributed Ledger Technology (Blockchain): The Future of Land Titling and Registry.”
Chromaway, which has experience in tracking land titles in countries such as Sweden, Canada, India, and Australia, will run the pilots together with Bolivian IT services company, Jalasoft, with the intention to eventually bring the blockchain pilots to other parts of South America. ChromaWay CEO Henrik Hjelte said:
“Our collaboration with the IDB provides the opportunity for partner countries to take advantage of maturing distributed ledger technologies that have been developed and used in other projects. We are especially excited to deploy these solutions in societies where secure land registration systems can have such a positive social and economic impact.”
The use of blockchain to permanently record ownership rights for real estate and business has been ongoing since 2016. Interest in the technology continues to grow as the process excludes intermediaries that collect commissions in the process of, for example, conducting real estate transactions. It can also lower the risk of fraud, prevent data forgery and simplify the process of checking real estate objects or business debts before deals take place. (Positive)
Bitmain Secretly Files for US IPO With SEC
Cryptocurrency miner manufacturing giant Bitmain Technologies have secretly filed an initial public offering (IPO) application in the U.S. with the Securities and Exchange Commission (SEC), according to Tencent News report.
It is also said that the sponsor for Bitmain’s IPO application is German multinational Deutsche Bank. The report did not mention the amount Bitmain is looking to raise through the U.S. IPO, but according to a report by Bloomberg in June, Bitmain was looking to raise roughly $300 million–$500 million in the U.S. offering.
Bitmain hired Zheng Hua, the former representative of Nasdaq China, as a consultant to the company, in order to increase the probability of its listing on a U.S. stock exchange.
Earlier this week, Bitmain rival Canaan Creative also publicly filed for a U.S. IPO, aiming to raise $400 million. (Neutral)
Samsung Adds Support for Tron Network to Blockchain Dapp Store
On October 30, Tron founder Justin Sun will appear on stage at the Samsung Developer Conference to announce a new partnership between his crypto company and the telecom giant.
Tron will be integrated into the software development kit (SDK) of the Samsung Blockchain Keystore, which helps users manage private keys. The SDK allows coders build with the Tron network by giving them direct access to the blockchain via Samsung devices.
It’s still unclear how this partnership changes anything for TRX token users, beyond wallet support.
Sun heralded this new conduit as a “milestone” for Tron. According to Tron’s latest report, there are roughly 3.9 million Tron wallet accounts and 611 dapps.
Sun said the partnership would make it easier for “millions of users of Samsung devices” because developers can build applications using Samsung devices. (Positive)
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