Chinese Internet Companies, Huawei, Tencent Lead Blockchain and 5G Charge

Notably, revenue from financial technology and corporate services recording a 37 percent increase. According to Tencent, 5G and blockchain will help …

Forecasts into 2019/2020 technology trends have revealed that blockchain technology and fifth-generation (5G) networks are edging closer to the center stage. Interestingly, Chinese Internet companies are leading the charge.

Forbes: 5G and blockchain will dominate 2020

Seeing this shift, Forbes released the “Top 10 Digital Transformation Trends for 2020.” The Forbes’ report indicated that blockchain and 5G network would continue to receive unprecedented attention in 2020.

While the market prospects for 5G and blockchain may be hard to predict, it’s anticipated that the two will bring profound changes to peoples’ lives within the next 5 years.

Consequently, major Chinese companies have started aligning themselves with the change and already feeling the impact. One such company is Alibaba, the parent company of Alipay. who have been trendsetters in the blockchain space. Alibaba’s Artificial Intelligence Institute, in 2019 pointed to the impact of 5G and blockchain, saying:

“The fifth generation of mobile communication technology will greatly enhance the mobile bandwidth, providing nearly 100 times the peak rate of 4G, … The blockchain technology will promote the reorganization of trusted data on the circulation path, and optimization to improve the efficiency of circulation and collaboration. In many scenarios, such as cross-border remittances, supply chain finance, electronic bills, and judicial deposits, blockchain will begin to integrate into our daily lives.”

Blockchain brings true sharing

Thunder Group, a Chinese technology-focused company, reported revenue growth of 40 percent from its cloud computing and value-added internet services. Notably, in 2019, Thunder is deepening its involvement in the shared computing and blockchain fields by cooperating with Netcore Technology.

According to Thunder’s CEO, Chen Lei:

“Unlike the trend of centralized technology represented by artificial intelligence and big data, the purpose of social and technological innovations such as cloud computing, blockchain and sharing economy is to empower each individual…. Blockchain helps to achieve a true sharing economy so that users’ data ownership is respected and protected, and a new business model will be built.”

Notably, the cooperation of Thunder and Netcore Technology will contribute to the development of 5G edge computing. Additionally, Thunder’s blockchain technology has made strides in the copyright space with the blockchain+5G mode case landing direction. Thunder employs a zero identity blockchain. This has led NetScience to launch “Thunderbolt Chain,” a blockchain platform aiming to, among other things, comprehensively address the privacy and security issues of 5G networks.

Tencent bets on 5G and blockchain

Apart from Thunder, Tencent’s Q2 unaudited financial report of 2019 recorded an 18 percent increase. Notably, revenue from financial technology and corporate services recording a 37 percent increase. According to Tencent, 5G and blockchain will help “usher in another strategic opportunity period of development in 2019.” Interestingly, Tencent already has a research team focusing on the application of 5G technology.

Also:

Tencent blockchain has been actively exploring the construction of high-availability and scalable blockchain application infrastructure products to help enterprises quickly realize application scenarios. Currently, Tencent’s blockchain focusses on medical care, supply chain, digital assets, among other fields.”

However, when discussing 5G technologies and China, Huawei is on the frontline. Since 2009, Huawei has invested heavily in 5G technology research. But, in 2016, the technology giant accelerated its R&D to include end-to-end 5G commercial products. This was followed by an additional investment of $1.4 billion.

Huawei has invested more than US and European firms combined

Notably, Huawei’s investments into 5G research and development exceed the combined expenditures of major European and US-based companies. Therefore, its entry into the blockchain sector should cause tremendous vibrations. Through its “Huawei Blockchain White Paper” released in 2018, the technology company noted that blockchain technology and related fields are driving development.

Zhang Xiaojun, Huawei’s blockchain project director, said that “Huawei is willing to work with the industry to accelerate the blockchain business structure and help transform the digital economy.”

Related Posts:

  • No Related Posts

Gartner: Industry will need to replace 90% of blockchain platforms by 2021

The majority of blockchain platform implementations, 90%, will demand replacement within 18 months to “remain competitive, secure and avoid …

Dive Brief:

  • The majority of blockchain platform implementations, 90%, will demand replacement within 18 months to “remain competitive, secure and avoid obsolescence,” by 2021, according to Gartner.
  • CIOs overestimate available blockchain platforms, according to the research. The current state of blockchain platforms have fragmented offerings and created overlap, “making technology choices confusing” for IT leaders, Gartner said.
  • Blockchain vendors use messaging that doesn’t translate to an enterprise customer’s needs, Gartner research found. Transactions and security are among the top affiliated functions with the ledger technology, but potential buyers are “confused” by whether or not blockchain can accomplish tasks better than other, readily available tools.

Dive Insight:

Blockchain is having an identity crisis, constrained by assumptions and technological immaturity prohibiting efforts from moving beyond the pilot phase.

Industry often associates blockchain with the “Wild West of cryptocurrencies and initial coin offerings,” according to Forrester. Ditching the term blockchain for distributed ledger technology might help develop its reputation.

Companies need to “prepare for rapid evolution, early obsolescence, a shifting competitive landscape, future consolidation of offerings, and the potential failure of early stage technologies/functionality,” in blockchain offerings, said Adrian Lee, senior research director at Gartner, in the report.

Gartner expects a “multiplatform world” to emerge as opposed to one prevailing platform because of the lack of unified product concept or core application requirements.

Still, the underlying technology is attractive and its potential use cases vary across industries. Blockchain’s business value will add up to more than $176 billion by 2025, Gartner said. But by 2030, the value will top $3.1 trillion.

Even with hurdles and an uncertain future of current, companies are jumping at the tech. Starbucks is a heavy investor in the technology after announcing its “bean to cup” promise last year.

Since then, the coffee chain teamed up with Microsoft to use its Azure Blockchain Service to track each stage of the coffee bean’s journey in the supply chain. The “shared, immutable ledger” will eventually extend to customers, so they can take part in viewing their drinks’ digital traceability.

The supply chain industry as a whole, however, is more wary of adopting the tech. Less than one-fifth of supply chain professionals consider blockchain an important technology for their business, and even fewer, 9%, have invested in it.

Companies are unable to find an off-the-shelf blockchain solution, complicating and stunting their ability to use it. Hybrid offerings of conventional blockchain platforms are adding further confusion to justifying a use case.

Related Posts:

  • No Related Posts

MiChain Foundation Launches Michain which Blockchain-powered 5G and IoT

The superiority of MiChain is using a public chain and ap-plied the smart contract of Ethereum into their system. Thus, it can be reducing the cost and …

Lloyds TSB Group, Foundation X, Linux Foundation and others Venture Capitals founded MiChain Foundation, has launched its blockchain-powered fifth-generation (5G) network brand, which re-lated to Internet Of Things, local news agency The America News reports on April 19.

Called “MiChain,” the brand intends to boost the security of Internet-of-Things (IoT) devices and to protect them from cyberattacks, the report says.

As a part of the new brand, MiChain Foundation developed Mi-Chain. The superiority of MiChain is using a public chain and ap-plied the smart contract of Ethereum into their system. Thus, it can be reducing the cost and make everything more transparency.

As 5G technology for the foundation, MiChain combines the ele-ments of Internet of Things (IoT) and Finance for the entry points, for creating the brand new IoT and Fintech platform through Block-chain underlying technology to support the whole ecological digiti-zation.

Maker, president of the Lloyds TSB Group, said that MiChain com-bines the technology of Blockchain and Internet of Things with the supply chain management method, implement the value of Internet of Things for tracking the product details and as well as the com-modity production and traceability of transportation from the whole world.

As a part of the announcement, Maker also introduced MiChain Blockchain-as-a-Service (BaaS) that enables organizations to use blockchain-based applications and deploy key features of block-chain, including smart contracts, that allow companies to operate transactions without involvement by a middleman.

MAKER added that its blockchain tech can be used for the digitiza-tion of vouchers that local governments have issued to their resi-dents. Through various technologies such as cryptography, P2P networks and consensus mechanisms, it formed a decentralized, traceable, and non-tamperable network. MiChain want to create a decentralized international financial trading platform based on blockchain technology.

Earlier in April, global market research store Research and Markets published a report claiming that international blockchain applications in IoT will generate $1.37 billion in revenue by 2024.

Media Contact

Company Name: Michain Foundation

Contact Person: Media Relations

Email:Send Email

Country: United States

Website:http://www.michain.world

Related Posts:

  • No Related Posts

The Potential of Blockchain & Internet of Things in Italy

In this technology epoch, the phrase Internet of Things (IoT) is not new in the ears of many blockchain maniacs especially in Italy. Some of the major …
Apr 06, 2019 at 09:23 // News
Author

Coin Idol

Blockchain in Italy

In this technology epoch, the phrase Internet of Things (IoT) is not new in the ears of many blockchain maniacs especially in Italy. Some of the major applications of this blossoming technology which will significantly transfigure people’s way of living include smart city, smart homes, driverless vehicles and resolving climate problems.

According to our recent report, the blockchain market in Italy multiply day by day, with the figures showing that there was a double in the market last year to make €31 million and expecting to increase further in 2020 to generate €92 million.

Distributed Ledger Integration

Let’s see some of the benefits of this technology that we can take advantage of in order to make our lives stress free and the world a better place to live in.

Very many companies and individual have been on possible way of solving daily problems using innovative technologies such as blockchain, IoT, artificial intelligence, smart contract, machine learning and others, but mass dissemination still remains a big challenge.

This is largely because of two major components: security and data transmission capacity. In order to run at full capacity, IoT needs a highly effective connective system to enable all objects connect and communicate in real time between themselves.

As Italy plans to introduce 5G technology, it will work hand in hand with distributed ledger technology and make a great change in the IoT sector. The 5G technology has a great energy saving potential plus a higher speed compared to 4G technology, and this will ultimately enable wide-ranging use of several IoT devices. The devices will as well benefit from the security, decentralization, distribution and immutability of the distributed ledger network system.

IoT and Blockchain are on Fire

The combination of these three things – blockchain, 5G tech and IoT – appears perfect to bring a new market of significant opportunities and investment growth.

Numerous internet of things and blockchain-related projects are under consideration – especially in the city of Verona and Milan. Generally, Italy is moving in the right direction, though at a slow pace, as far as innovation and technology are concerned.

The use of blockchain in Italy is spreading like a wildfire, it is now being used in a series of sectors such as supply chain, tourism, insurance, energy, art, banking, tax authorities, smart contracts, agrifood, logistic & transport and others. The Italy is seeking for best methods of integrating distributed ledger and IoT to bring a fundamental change in the country.

Source yext: https://it.coinidol.com/blockchain-in-italia/

Related Posts:

  • No Related Posts

Filament Launches New Blocklet Foundation Kit – a Blockchain Development Kit for IoT Developers

… demonstrate attestation-driven smart contracts and machine-to-machine (M2M) transactions between devices on a distributed ledger with Filament’s …

RENO, Nev., April 01, 2019 (GLOBE NEWSWIRE) — Filament, provider of comprehensive enterprise blockchain solutions for the Internet of Things (IoT), today announced that it has launched its new Blocklet Foundation Kit. Designed for embedded and hardware developers focused on the Internet of Things (IoT), this blockchain development kit provides hands-on experience with Filament’s Blocklet technology, and allows users to generate IoT blockchain transactions on-device and demonstrate smart contract functionality.

“We are the only company to provide embedded technology for blockchain transactions starting with the origination of data, at the edge,” said Frank Friesacher, executive vice president, product, Filament. “This new kit gives embedded developers hands-on experience to evaluate and demonstrate how IoT devices and sensors at the edge can integrate and securely transact in a blockchain without incurring the infrastructure overhead typically found in today’s IoT and blockchain deployments. With the increasing interest in enterprise blockchain solutions, we created this as a clear pathway to proof of concept and pilot projects that lay the foundation for successful production deployments.”

The Blocklet Foundation Kit’s comprehensive and preconfigured Blocklet-enabled hardware, software and resources can be used online or offline to demonstrate attestation-driven smart contracts and machine-to-machine (M2M) transactions between devices on a distributed ledger with Filament’s Blocklet technology.

“Filament has been an exceptional resource in our exploration of blockchain technology and the proof of concept projects we have been conducting with our partners,” said Frank E. Oriold, executive vice president, operations and business development, Kleinschmidt Inc. “Blocklet’s unique capabilities and how they might be leveraged in the supply chain/logistics space were immediately apparent to us. Filament’s flexibility in working with our team to create solutions that fit within our environment makes them stand out as a provider.”

The Blocklet Foundation Kit’s key components include:

  • A tablet computer preloaded with tools, applications and example scripts that allow an embedded developer to quickly experiment with Blocklet.
  • IoT device with an integrated, interactive user interface that demonstrates how Blocklet provides an identity for legacy infrastructure components.
  • Blocklet USB Enclaves that bring Blocklet’s features to existing hardware.
  • A lightweight, prewired IoT breadboard that includes a Blocklet UART module and ESP32 Wi-Fi/Bluetooth microcontroller, which provides a functional example of Blocklet operating in an embedded environment.
  • Ethereum support and a robust embedded Software Development Kit (SDK).

Also today, Filament announced its Accelerator Services for companies seeking blockchain consulting support in developing new business models and revenue streams through the adoption of enterprise blockchain solutions. The Blocklet Foundation Kit and Accelerator Services are currently available to enterprises and industrial corporations.

Filament’s Blocklet technology will be presented in the Demo Showcase at the Intel Capital Global Summit, taking place April 1 – 3, 2019, in Phoenix, Arizona.

About Filament

Filament builds comprehensive blockchain systems for the enterprise and the Industrial Internet of Things (IIoT). Its hardware, software and service solutions allow connected devices and machines to securely interact with and transact value against distributed ledger technology such as a blockchain. Filament is headquartered in Reno, Nevada with offices in Denver, Colorado and Saint Paul, Minnesota. Learn more at filament.com.

Filament and the Filament logo are registered trademarks of Filament in the U.S.A. and other countries. Blocklet and Blocklet Chip are trademarks of Filament in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

Filament Media Contact

Christy Kemp

Dahlia Public Relations

303-898-3390

ckemp@dahliapr.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/449b4c5b-962f-41f2-a454-3f3228f96e16

Related Posts:

  • No Related Posts