This is the weekly wrap of blockchain business news for 1-7 March. Subscribe to get the news you need for your business!
RubiX is a full-scale Blockchain-as-a-Service (BaaS) and security solutions company. The company was established in 2012 and has recently migrated all of its solutions to its own open source blockchain. Read more on the BaaS market.
The BaaS company has announced the launch of its Non-Fungible Tokens (NFT) application. The application is built on the highly-scalable RubiX blockchain backed by proprietary QR Code technology that secures, authenticates and proves ownership of digital and tangible assets.
With its application, RubiX is aiming “to make NFT more accessible to our enterprise partners and general consumers.”
The RubiX blockchain is several times stronger than Bitcoin and Ethereum. Each transaction is completed within ~250ms.
RubiX NFT is a digital asset that can be applied to industries including sports merchandise and memorabilia, luxury goods, real estate and financial institutions like asset management, insurance, payments and fintech.
VTB or Vneshtorgbank was established in 1990 in Russia to service the country’s foreign economic transactions and promote its integration into the global economy.
Gazprom Neft, a subsidiary of Gazprom, is the third largest oil producer in Russia.
Gazprom Neft’s aviation refueling business is operated by Gazprom Aero. Gazprom Aero has recently launched Smart Fuel, a revolutionary approach to aircraft refueling.
Smart Fuel is a digital payment system which allows airlines to instantly pay for the fuel directly through fully secure financial transactions in real time, 24/7.
The technology has reduced the transaction time from 4-5 days to just a few minutes, while also significantly cutting down on airlines’ costs.
Italian soccer club AC Milan has become the latest sports team to take advantage of the crypto movement.
The team has debuted with their $ACM Fan Token on Binance, the world’s biggest cryptocurrency exchange. In just a few hours, the team had raised more than $6 million in new digital revenue.
The $ACM Fan Token is on the Chiliz blockchain-based fan engagement platform Socios.com. Fan Token holders have access to a range of club benefits, including the right to vote in polls, VIP rewards, exclusive club and sponsor promotions, games, chat and ‘super-fan’ recognition.
Amazon Web Services has launched an enhanced version of its Amazon Managed Blockchain service that features support for the popular Ethereum blockchain platform.
Amazon Managed Blockchain allows customers to encrypt Ethereum transaction data both at rest and while it’s traversing the network.
The service also includes tools that companies can use to continuously synchronize transaction data from their nodes with the other nodes that make up the public Ethereum main network.
Ethereum is the second blockchain platform that AWS has made available on the service. Amazon Managed Blockchain also supports Hyperledger Fabric, which is maintained by the Linux Foundation and targets the enterprise market.
JP Morgan has successfully tested a blockchain transaction in space using Danish space firm GomSpace’s satellites.
It is the world’s first bank-led tokenised value transfer in space, executed via smart contracts on a blockchain network, established between satellites orbiting the earth.
The transaction was executed between two GOMX-4 satellites in the low Earth orbit (LEO), which validated the approach towards a decentralised network where communication with the earth is not necessary.
Hive Blockchain (HIVE) is a publicly traded cryptocurrency mining firm. The firm benefited from the bull market in digital assets last quarter as bitcoin (BTC) prices rose and closed last year with $13.7 million, a 174% increase from the same period a year earlier.
The Vancouver company has a current market value of $1.57 billion after passing the $1 billion mark in early January. The lion’s share of operations are dedicated to mining Ethereum (ETH).
Crypto mining means gaining cryptocurrencies by solving cryptographic equations through the use of computers. This process involves validating data blocks and adding transaction records to a public record (ledger) known as a blockchain. Bitcoin miners receive Bitcoin as a reward for completing “blocks” of verified transactions which are added to the blockchain.
Following the amazing success with Top Shot Moments, the NBA has established a blockchain advisory group to explore potential uses of the emerging technology.
The group includes billionaire Dallas Mavericks owner Mark Cuban, Washington Wizards owner Ted Leonsis and Brooklyn Nets owner Joseph Tsai and is tasked with determining how to leverage blockchain to benefit the NBA’s business.
J.P. Morgan is one of the global leaders in financial services. S&P Global ranked JPMorgan Chase as the largest bank in the United States and the 5th largest bank in the world by total assets.
The bank has recently established a business unit solely focused on blockchain development, called Onyx, in October. Liink is J.P. Morgan’s peer-to-peer blockchain-based data network, operating under Onyx.
True to its commitment to digital currency and blockchain, the bank is now aiming to build its blockchain engineering team. The JPMorgan site is now displaying 61 open jobs for blockchain ranging from software engineers to a DevOps Engineering Lead (Vice President).
The majority of the job openings are in India, Singapore, the US and the UK.