hyperledger fabric

New York Times Experiments with Blockchain to Combat Fake News

The New York Times made an announcement regarding their new project by their research and development team focused on experiments using blockchain. They are finding a solution to combat misinformation, adulterated media issues that harm publishers. This solution can be used by the media industry globally in the future.

Their News Provenance Project plans to use Hyperledger Fabric’s permissioned blockchain, an open-source blockchain framework to authenticate news and photographs. Their team consists of technologists and journalists who are also collaborating with IBM Garage on the development of the proof of concept. The project will consist of storing the details of the news item including the information regarding the where a photo/ video was taken, the person who took it as well as the publishing and editing contextual details. The research and development team believes that adding context to images or videos may bring a positive and clarifying effect for the online media ecosystem.

“All hype aside, blockchain offers mechanisms for sharing information between entities in ways we think are essential for establishing and maintaining the provenance of digital files,” stated the News Provenance Project.

As of their current stage, the research and development team are conducting user-centered research by using a blockchain-based system, which the team can benefit from its tamper-proof feature. The participation of the majority of the media industry will affect the success of the project.

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Hedera Hashgraph’s Launches New Consensus Service Which Could Be Leveraged by IBM’s Hyperledger Fabric

Hedera Hashgraph released its Hedera consensus service (HCS), which can be used by external centralized applications, including IBM’s Hyperledger Fabric. Hedera Hashgraph’s governance board includes Boeing, Deutsche Telekom, IBM, Nomura, and recently, Google.

Hedera aims to have 39 governing council members and to be permissionless in the future. Currently, only 11 council members operate nodes with write permissions. Prior to the launch of the platform, the firm raised $124 million through a token sale. Its unique technical architecture makes it more efficient and scalable than most blockchains.

With the Hedera consensus service, external parities could also have access to the service and are open to developers on the Hedera mainnet. Hyperledger Fabric could also use the Hedera consensus service in determining the timestamp and order of transactions. As IBM is one of the members of Hedera’s governing council, the whitepaper was written with one of the members of the IBM Blockchain team.

Leemon Baird, the Co-founder of Chief Scientist of Hedera Hashgraph said, “Logging transactions in the exact order they occur is crucial to use cases across nearly every industry. HCS combines hashgraph’s fast, fair, and secure consensus algorithm with the trust and governance of Hedera’s public network.”

According to Hedera, the service can also be used for a private Corda or Ethereum network. The use of a public consensus is beneficial to most small private networks, given that in private blockchain networks, the lack of decentralization could lead to collusion. Hedera’s split of its consensus service from its smart contract service brings more of an advantage when it comes to efficiency.

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The Central Bank of Nigeria to Conduct its Central Bank Digital Currency Pilot on October 1

The Central Bank of Nigeria (CBN) officially announced that it will officially pilot its central bank digital currency (CBDC) on the Hyperledger Fabric blockchain on October 1.

Rakiya Mohammed, Director of Information Technology at the Bank of Nigeria, stated in a webinar that it is possible to conduct a corresponding proof of concept (POC) by the end of this year at the latest.

According to reports, this project “GIANT” will operate on the Hyperledger Fabric blockchain, dedicated to providing private companies with blockchain-based products, solutions, and applications.

The Central Bank of Nigeria stated that about 80% of central banks worldwide are issuing CBDC or have already issued their CBDCs, including Thailand, China, the United States, South Korea, Ghana, Philippines, etc.

Nigeria’s Central Bank also stated that Nigeria also needs to join the CBDC track to facilitate the macro-control of the country and the facilitation of cross-border trade.

As early as before, Nigeria has always maintained a hostile attitude towards cryptocurrencies. As reported by Blockchain.News on February 8 this year, the Central Bank of Nigeria (CBN) has doubled down its efforts to cripple cryptocurrency transactions in the country, stating they are a breeding ground for illegal activities.

Hyperledger Fabric-based Platform Remooz.com Launches NFT Marketplace

Remooz.com, a platform based on Enterprise grade distributed ledger Hyperledger Fabric, has launched an NFT marketplace platform.

A growing number of celebrities, including musicians, athletes, movie stars, and others, have turned their interest to the digital token, creating their own series of NFTs and selling them.

The latest NFT platform will be a marketplace that allows collectors, artists, and ordinary people who have no exposure to NFT technology to create, buy and resell NFTs through blockchain-backed transactions.

The platform’s digital assets are traded in U.S. dollars, offering businesses, investors, users and ordinary people a huge opportunity to build a user-friendly, highly accessible and socially engaged platform.

The strength of the Remooz NFT marketplace platform lies in Hyperledger Fabric’s blockchain.

Hyperledger Fabric is an open, proven, enterprise-grade, distributed ledger platform started in 2015 by The Linux Foundation.

It uses a modular, general-purpose framework with unique identity management and access control capabilities that make it ideal for a variety of industry applications, such as track and trace supply chains, trade finance, loyalty and rewards, financial asset management, Clearing and settlement, etc.

Based on this blockchain, Remooz can become a partner and work together to promote the company’s business development.

The Co-founder & CEO of Remooz, Marwan Salem, stated that: “Either serving the business-to-consumer (B2C)or business-to-business (B2B)segments, Remooz is redefining the blockchain infrastructure and making NFTs accessible to all.”

Recently, Video game retailer GameStop Corp announced Monday the launch of a public beta version of a non-fungible token.