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Bangladesh: IBM Blockchain-Based Pilot to Enhance School Teachers’ Pension System

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In an announcement dated June 12, 2020, the Bangladesh Computer Council (BCC) – a government agency overseeing IT policy in Bangladesh – in tandem with tech conglomerate IBM, unveiled a proof of concept (POC) that leverages blockchain technology to bring greater efficiency to primary school teachers’ e-pension system.

Using Blockchain to Underpin School Teachers’ Pension System

In a bid to bring greater transparency and security to the school teachers’ pension system, BCC introduced a POC that uses IBM Cloud’s IBM Blockchain Platform for storing and managing pension information. Specifically, the POC proposes a blockchain-enabled permissioned network of teachers and other stakeholders to safeguard their pension information from potential cyberattacks.

The POC leverages distributed ledger technology’s (DLT) transparency, security, and immutability to protect the pension system against unauthorized elements. A DLT-enabled approach to safeguarding a pension system will not only ensure the safety of teachers’ personal data – including their time of service, salary, and date of birth – but also ensure that they receive correct disbursements.

Notably, the e-pension POC is BCC’s first blockchain use case. The POC was proposed by developers with the Bangladesh National Digital Architecture (BNDA) team. Now, the e-pension solution team comprises the original BNDA developers, an education expert, and several IBM Blockchain engineers.

The team at BCC utilized the benefits of the rich integrated development environment in the IBM Blockchain Platform to create the POC in under three months. The team of engineers plans to continue using the IBM Blockchain environment to power the solution’s final version.

Parthapratim Deb, Executive Director, BCC, remarked:

When the solution goes live, teachers will access their profiles and pension records through the web or a mobile app. The distributed ledger will link to other government systems through the National e-service bus, a shared middleware platform that is maintained by the BNDA team.

Deb exhibited trust in the blockchain-powered e-pension system, saying that it will increase confidence among the stakeholders and ensure that teachers are paid out appropriately on time.

IBM Continues to Build on Blockchain

The U.S.-based tech multinational is one of the leading firms in the world spearheading the enterprise-grade adoption of DLT.

BTCManager reported on May 5 that IBM, Merck, and the Food and Drug Administration (FDA) had piloted a blockchain solution that reduced the time required for drug recalls from three days to just a couple of seconds.

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Source: https://btcmanager.com/bangladesh-ibm-blockchain-pilot-school-teachers-pension-system/

Blockchain

A senior BOJ official says the digital yen needs public support for it to become a reality.

According to the Bloomberg report, a senior Bank of Japan’s official said that there is no final decision has been made yet even after the announcement of testing to start next year. The official revealed that a lot depends on the public support for it to go ahead with its central bank-backed digital currency. Kazushige […]

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A senior BOJ official says the digital yen needs public support for it to become a reality. – Coinnounce




























The central bank of Japan’s move to launch a digital currency would be conditional on public support, according to a senior BOJ official.


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Source: https://coinnounce.com/bank-of-japan-official-says-cbdc-needs-public-support/

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Japanese soccer star Keisuke Honda launches his own crypto

Crypto and blockchain matter for the global soccer community.

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A Japanese professional soccer player is launching his own cryptocurrency to boost fan engagement.

Keisuke Honda, former Japan midfielder and currently a captain of the Brazilian professional league team Botafogo, has launched his own token to build new connections with his fans, Cointelegraph Japan reported on Oct. 22.

The so-called “KSK Honda Coin” was launched on Thursday via Rally.io, a blockchain platform for creating video streaming and gaming applications. The new coin is intended to enable fans to interact with Honda.

Holders of KSK Honda token will be able to get exclusive content from Honda as well as interact with the player via private channels on Discord. “We decided to create a social token to build new connections with our most loyal fans,” Honda said.

The world-known soccer player said that the new token will allow him to connect with fans in a more open manner, providing a 100% transparency in knowing who holds coins in the fan community.

The global soccer community is moving deeper into the crypto and blockchain industry in search of new ways of connecting stars with their fans.

On Oct. 15, a top soccer club in Russia’s Premier League — Zenit St. Petersburg — signed on to the blockchain-based gaming platform Sorare to issue collectible and tradeable digital cards. In September 2020, Italian professional sports club SS Lazio signed a multiyear deal with crypto trading platform StormGain, enabling new fan engagement options through crypto.

Source: https://cointelegraph.com/news/japanese-soccer-star-keisuke-honda-launches-his-own-crypto

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Grayscale invests $300m in a day to grow its crypto portfolio

Grayscale Investments continues to grow its cryptocurrency portfolio by adding $300 million in assets…

The post Grayscale invests $300m in a day to grow its crypto portfolio appeared first on Coin Journal.

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Grayscale Investments continues to grow its cryptocurrency portfolio by adding $300 million in assets under management (AUM) in a day

Grayscale Investments revealed that it had added $300 million worth of cryptocurrencies to its digital assets portfolio over the past 24 hours and over $1 billion in the last week. This information was relayed by Grayscale CEO Barry Silbert via a tweet yesterday.

The crypto fund manager noted that it had $6.3 billion in AUM as of October 15. However, it has added $1 billion in cryptocurrencies over the past week, and the company now controls $7.3 billion worth of digital assets.

Silbert stated that the company “Added a cool $300 million in assets under management in one day. The additional sum brings the total assets held under management to $7.3 billion”.

The funds are held in the company’s trust for Bitcoin (BTC) and Ethereum (ETH), in addition to Grayscale’s digital large-cap fund. This latest development comes less than 48 hours after PayPal announced its entry into the cryptocurrency market, with Bitcoin surpassing the $13,000 mark afterwards.

Each Grayscale report is delayed by 24 hours, which means that this data refers to the previous day’s figure.

The cryptocurrency funds manager reported that its Litecoin (LTC) Trust recorded the highest growth since the last report. Grayscale reported that its LTC Trust increased by 7.5%, while their Zcash (ZEC) Trust increased by more than 6% over the past 24 hours. Grayscale also has extensive holdings in other cryptocurrencies such as Ripple (XRP), Ethereum Classic (ETC), Bitcoin Cash (BCH), Horizen (ZEN) and Stellar Lumens (XLM).

Grayscale might be increasing its cryptocurrency holdings after raising massive funds in the third quarter of the year. Grayscale’s financial report for Q3 2020 revealed that it had bought over $1 billion in investment across all its cryptocurrency trusts. This year, Grayscale has raised $2.4 billion, which is more than twice the total amount they obtained for the years 2013 – 2019.

The investment firm revealed that 81% of investment in the third quarter came from institutional investors, while another 57% came from people investing in multiple products.

With the crypto fund manager now holding over $6 billion in AUM, it means that Grayscale controls around 2.5% of the total Bitcoin supply, currently above 18,000 BTC. The Bitcoin supply is capped at 21 million, which means that roughly 2.5 million bitcoins are left to be mined.

Grayscale isn’t the only company that is increasing its stakes in cryptocurrencies at the moment. MicroStrategy recently bought $425 million worth of Bitcoin, and Jack Dorsey’s Square Inc. invested $50 million in Bitcoin.

Source: https://coinjournal.net/news/grayscale-invests-300m-in-a-day-to-grow-its-crypto-portfolio/

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