American Premium Water Corporation (OTC:HIPH) (“APWC”) announced this morning that it has acquired the license to operate FashionCoinX (www.fashioncoinx.com), an exchange utilizing blockchain technology that will provide fashion brands the ability to create their own security backed tokens which will provide special discounts, access to exclusive products, and other loyalty rewards to consumers. These tokens can be traded on the exchange, allowing for a real-time indication of a brand’s power.
Last September, China Construction Bank Corporation (CCB) revealed it was using the IBM Blockchain platform to streamline the way banks and insurance companies jointly sell some of their products.
Earlier this year, Agricultural Bank of China Limited, the state-owned bank revealed it was working on a decentralized network to offer unsecured agricultural loans to e-commerce merchants, according to a CoinDesk report.
Bank of America, Wells Fargo and the Bank of China , each undertaking their own blockchain projects to streamline a diverse set of financial workflows.
Apple inc had been largely silent about any potential blockchain projects, until CoinDesk reported on a patent filed by the company for using blockchain technology to timestamp data.
Multinational software company SAP has launched a blockchain-as-a-service platform, SAP Leonardo Blockchain, the company reported Wednesday, June 6. The platform is designed to let corporate customers build applications and networks using blockchain technology.
Other largest companies in the world are also exploring blockchain:
- Microsoft Corp
- German auto manufacturer Daimler
- Japanese auto manufacturer Mitsubishi
- Russian bank, Sberbank
A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central recordkeeping. Each node (a computer connected to the network) gets a copy of the blockchain, which is downloaded automatically. Originally developed as the accounting method for the virtual currency Bitcoin, blockchains – which use what’s known as distributed ledger technology (DLT) – are appearing in a variety of commercial applications today. Currently, the technology is primarily used to verify transactions, within digital currencies though it is possible to digitize, code and insert practically any document into the blockchain. Doing so creates an indelible record that cannot be changed; furthermore, the record’s authenticity can be verified by the entire community using the blockchain instead of a single centralized authority.
Read more: Blockchain Definition | Investopedia https://www.investopedia.com/terms/b/blockchain.asp#ixzz5Hlc9WMRO