The fourth annual blockchain technology summit, Consensus 2018 was held from 14th to 16th May at the New York Hilton Midtown. There were more tha 250 speakers who addressed the various issues in the blockchain technology.
Every single announcement during the summit was a reason to celebrate for the blockchain community. There were around 4000 attendees from the academic-policy makers, start-ups in the industry, investors, financial establishments, and major tech enterprises.
During the Consensus 2018, a lot of different aspects of blockchain technology have been discussed by the speakers and blockchain based firms showcased how the industry is benefiting as a whole from their achievements.
IBM has given out a statement regarding their Blockchain Platform during the summit, they understand that the blockchain technology should maintain its transparency, longevity, and interoperability. IBM is one of the founding members of an open source platform called Hyperledger, which is hosted by The Linux Foundation. IBM is using Hyperledger to provide their clients the benefits of advance cross-industry blockchain.
The Linux Foundation had developed Hyperledger in December 2015, which is an umbrella open source blockchain project to support the collaborative development of blockchain-based distributed ledgers.
Some of the technology giants announced their latest technological ventures across the blockchain industry during the summit. They are releasing different blockchain tools to provide support to begin the implementation of the technology and get more people invested in it. Amazon’s AWS Blockchain templates and Microsoft’s Azure Blockchain Workbench are the two main innovations which were presented during the summit.
Along with this, Ripple announced its new initiative called XSpring, which is responsible for supporting the developers in building XRP-related projects. Using XSpring the companies can develop new software solutions which improve the networks and ecosystems to work together. XSpring will also provide grants to use XRP and XRP-ledger.
Edebian, a Ripple enthusiast says:
“IBM is diversifying its investmets in the blockchain industry as a premier founding member of Hyperledger and many other projects. Ripple also recently joined the Linux Foundation and strangely enough also R3 is a member of the same consortium”
The Permissioned blockchain is being developed by various companies to get information on all the participants in the network. The firms demonstrated the potential benefits of using permission blockchain platforms during the summit. The demonstration was held to educate and make people aware of the latest advancements in the technology.
The operator of the Australian Securities Exchange Ltd or ASX limited has published a new consultation paper detailing the scope and implementation plan regarding the replacement of the Clearing House Electronic Sub-register System [CHESS] as they are currently working on a replacement. CHESS is a blockchain based system that has more efficient clearing settlement and can provide improved post-trade services like reduced reconciliation, record keeping, and fast transactions.
EnVision Corporation’s incubated company called Veridium is going to use IBM Blockchain technology to manage carbon credit tokens on the Stellar blockchain. They are planning to process carbon accounting and offsetting into digital tokens which can be easily traded across the network.