1) Quebec Moves to Restrict Crypto Mining
With more demand than Quebec’s power utility can satisfy, the province’s government announced on Thursday that it has temporarily halted approvals for new digital currency mining projects in order to fulfill its obligations throughout the jurisdiction.
The provincial government announced the move as state-owned power generator Hydro Quebec said it has asked the province to limit total power available to all digital currency miners to a block of 500 megawatts, according to Reuters. That is about enough energy to run a single aluminum smelting plant, or a fraction of the 17,000 megawatts in capacity requested so far by miners looking to operate in Quebec, Reuters reported.
2) Morgan Stanley Offers Insight Into Bitcoin, Cryptocurrency and Blockchain
Morgan Stanley released a presentation on Friday giving an update on Bitcoin, cryptocurrencies, and the blockchain. The report synthesis data from various crypto focused data sources like blockchain.info, coinmarketcap.com, and bitcoinity.org with proprietary Morgan Stanley Research to develop a number of insights into the current state of the cryptocurrency landscape.
3) Subway Jumps on FoodLogiQ Supply Chain Pilot
Together with a group of companies that includes sandwich giant Subway, FoodLogiQ, a SaaS supply chain service for the food industry, on Monday announced a pilot initiative to test how the application of blockchain technology can raise transparency.
Led by its innovation arm, FoodLogiQ Labs, the pilot group aims to research the opportunities and challenges of this emerging technology within the food industry. The company said that, while the shared permanent ledger of blockchain holds promise on raising transparency in the food industry, there is still much to be tested and validated on real-world applications within the food chain.
4) Sagewise Using Hashgraph Blockchain to Underpin Smart Contract
The California-based tech firm Sagewise announced on Wednesday that it’s utilizing the blockchain platform Hedera Hashgraph to underpin its efforts to provide resolution of disputes involving smart contracts.
Sagewise stated that it offers a proprietary software development kit to mitigate variables such as the quality of smart contract coding and changing situations. Sagewise explained that it does this by building in a layer of smart contract monitoring, notification, freezing, and dispute resolution to ensure that execution of a smart contract reflects the user’s intent.
The Hashgraph algorithm — a consensus mechanism based on a virtual voting algorithm combined with the gossip protocol — will help Sagewise by providing a framework for quick, fair, efficient and secure consensus, according to the company.
5) South Africa Reserve Bank Makes Progress with Quorum Blockchain Pilot
The South African Reserve Bank (SARB) has outlined its progress with Project Khokha, a Proof of Concept simulation of distributed ledger technology for wholesale payments and settlements.
The results of the pilot were announced in a recent statement by South Africa’s central bank, which is operating the Proof of Concept for interbank transfers on JPMorgan’s Quorum, an Ethereum based Blockchain.
In summary, the Reserve Bank is using Blockchain technology to gain a practical understanding of how it can work in conjunction with the country’s banking industry, and to assess the benefits distributed ledgers can provide. The Reserve Bank said it is not looking to replace its legacy systems at this stage, but is interested to examine how the Khokha system will work as a back up to its existing settlement systems.
Republished with permission from the wonderful guys at www.the-blockchain.com