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Exam Code: CBBF Certified Blockchain Business Foundations information source January 2024 by Killexams.com team

CBBF Certified Blockchain Business Foundations

The CBBF test is a 70 question multiple-choice test that lasts 1.5 hours and is a performance-based evaluation of basic Blockchain skills and knowledge. Internet access is not provided during the exam, nor is any course material or study guides.



Scores and Reporting

Official scores for exams come immediately following the test from Pearson VUE. A passing score is 70%. test results are reported PASS/FAIL and you will be provided your percentage. Blockchain Training Alliance does not report scores on individual items, nor will it provide additional information upon request.



The Certified Blockchain Business Foundations (CBBF) test is an elite way to demonstrate your knowledge and skills in this emerging space. Exams are conducted at Pearson VUE.



The guide helps to cover the four sections sections of the exam:

- General Blockchain Knowledge

- Why Use Blockchain

- How Blockchain Works

- Using Blockchain for Business



Target Roles Include:

- IT Leadership

- Key Business Managers

- CEO/CTO/CIO

- Network Operations

- Business Analysts

- IT Consultants

- Project Managers

- Systems Integrators

- Help Desk / Service Desk

- Managed Service Providers

- Solution Providers

- Sales Staff

- Government Officials



A person who holds this certification has demonstrated their understanding of the following:

- Blockchain Basics

- Why an organization should or should not use Blockchain

- How Blockchain Works

- Implementing Blockchain in Business

- Blockchain Use Cases
Certified Blockchain Business Foundations
BlockChain Foundations information source

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BlockChain
CBBF
Certified Blockchain Business Foundations
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Question: 70
Blockchains are being implemented in the food supply chain because_____________.
A. consumers demand to know where their food comes from B. it allows farm to table accountability for safety
C. they have the potential to provide fast, specific provider data
D. it prevents food waste if a food contamination problem occurs
E. All of the above
Answer: E
Reference: https://www.forbes.com/sites/jennysplitter/2018/09/30/what-can-blockchain-really-do-for-the-food-industry/
#151984fe488e
Question: 71
How does a private Blockchain differ from a public one? Select all that apply.
A. A private Blockchain does not use proof of work consensus
B. A private Blockchain is more efficient and has faster transaction times
C. A private Blockchain is not distributed
D. A private Blockchain often requires the identity of users to be known
Answer: D
Reference: https://medium.com/coinmonks/public-vs-private-blockchain-in-a-nutshell-c9fe284fa39f
Question: 72
Why is a private Blockchain used instead of a public one?
A. To limit user access and permissions
B. It is less expensive to develop
C. It requires less mining power than a public Blockchain
D. It requires fewer administrators to manage it
Answer: A
Reference: https://medium.com/coinmonks/public-vs-private-blockchain-in-a-nutshell-c9fe284fa39f
Question: 73
A distributed network is always decentralized.
A. True
B. False
Answer: B
Reference: https://stackoverflow.com/questions/49195562/difference-between-a-distributed-and-a-decentralized-
network
Question: 74
Transparency allows_____________.
A. a trustless system where users can be certain of a result
B. easy iteration through the Blockchain
C. Records on the Blockchain to never be changed
D. users on the Blockchain to change data on the Blockchain
Answer: A
Reference: https://lisk.io/academy/blockchain-basics/benefits-of-blockchain/why-is-blockchain-trustless
Question: 75
Blockchain is always a better alternative to a standard database.
A. True
B. False
Answer: B
Reference: https://www.coindesk.com/information/what-is-the-difference-blockchain-and-database
Question: 76
Blockchain is always decentralized.
A. True
B. False
Answer: A
Question: 77
What is Ethereum?
A. Another name for Bitcoin
B. A platform for creating decentralized applications
C. A currency
D. Another name for Blockchain
Answer: B
Reference: https://blockgeeks.com/guides/ethereum/
Question: 78
Why is Hyperledger a good business solution over other Blockchains?
A. Always permissioned and private
B. It can employ smart contracts
C. Modular design allowing for flexibility in solution
D. Multiple consensus methods can be chosen for use
E. All the above
Answer: D
Question: 79
What does a Merkle tree provide?
A. Efficient block lookups and protection against forgery
B. Anonymity and transparency
C. A Turing complete distributed network
D. A way to deploy smart contracts onto the Blockchain
E. All of the above
Answer: A
Question: 80
What does P2P stand for?
A. Person to Person
B. Public to Person
C. Peer to Peer
D. Product to Person
E. None of the above
Answer: C
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BlockChain Foundations information source - BingNews https://killexams.com/pass4sure/exam-detail/CBBF Search results BlockChain Foundations information source - BingNews https://killexams.com/pass4sure/exam-detail/CBBF https://killexams.com/exam_list/BlockChain The Rise of Blockchain-Based Lotteries No result found, try new keyword!Lotteries have long been one of the most popular games of luck. They''ve been around for a few centuries, and the players love them a lot. A lottery is easy to play and learn, and it can provide huge ... Wed, 03 Jan 2024 06:41:00 -0600 en-US text/html https://www.tmcnet.com/topics/articles/2024/01/03/458222-rise-blockchain-based-lotteries.htm Algorand Foundation - Blockchain for Real-World Impact with Matthew Keller

The Algorand Blockchain exists because its founder, Silvio Micali, believed that he could build a better, faster, more reliable, more secure and more sustainable alternative to the existing layer 1 blockchains. It's within this framework that the Algorand Foundation has created a team dedicated to impact and inclusion, investing and supporting those who also believe in the use of blockchain technology for a more just and equitable future.

Following the Algorand Impact Summit, a two-day event bringing together developers, founders, executives, policymakers, NGOs, investors and other thought leaders who see blockchain as part of the solution to the world’s most intractable challenges, the CoinDesk team got to speak with the Algorand Foundation’s Matthew Keller to dive deeper into its impact initiatives.

Matthew Keller is the director of impact and inclusion at the Algorand Foundation, where he is responsible for supporting and empowering individuals and institutions making use of the Algorand blockchain for social impact. Prior to joining the Algorand Foundation, Keller worked for a wide range of impact roles for global nonprofits and advocacy groups, such as the UN World Food Programme, One Laptop Per Child and XPRIZE.

The following is our conversation on the impact of blockchain technology, how to measure success for inclusionary initiatives and how the Algorand Foundation thinks about the future of on-chain public goods.

Matt, thank you for joining us. I’d like to hear more about your background leading into your time with the Algorand Foundation and what you’re working on today.

The first half of my career I spent in politics with a good 12 years on Capitol Hill, both as a Senate staffer and then as the legislative director for a large public-interest organization called Common Cause. At Common Cause, I lobbied Congress on campaign finance reform issues regarding money in the American political process. I spent seven years working closely with our Senate champions John McCain (R-AZ) and Russ Feingold (D-WI). After that bill was signed into law, I took a left turn, in a sense, and went to the United Nations World Food Programme in Rome, where I was both legal counsel and an advocate around issues of child hunger for five years as an international UN employee. It was during my time there that I fell in love with technology and learning.

That interest in technology and learning led me to a project of the MIT Media Lab called One Laptop Per Child, which was a cutting edge project at the time. The question we were answering was: Can you get sophisticated technology into the hands of children living in some of the most remote places on Earth as a way to promote education? The project was popularly called “The $100 Laptop,” and I think we broke down some serious barriers at the time. From there, I led a project called The Global Learning XPRIZE, which was a $15 million competition sponsored by Elon Musk that proved the efficacy of dynamic and intuitive software for self-learning in reading, writing and math among some of the most marginalized children on Earth. I spent six years working in Tanzania and in the U.S. putting that together.

And now I'm here at the Algorand Foundation. The task laid out for me was simple. Algorand is the most performative, secure and reliable blockchain technology out there. Its instant finality, high throughput, quantum security and negligible fees and environmental footprint allow it to scale. My job is to find and nurture those projects that can best take advantage of this technology and its ability to scale as a way to bring about transformative social and environmental impact.

Of all the areas the Algorand Foundation focuses on in terms of impact, identity seems to stand out as one that seems to tie back into all the others. I would love to dive deeper into how you view blockchain-based identity and where it's heading.

It's fundamental to everything. It's the thing that, without it, nothing else can really happen.

Look, for example, at a place like Democratic Republic of Congo, where somewhere between 25% to 35% of kids are born without identity. What does that mean? It means that a sizable portion of the population are unlikely to be able to go to school, or access any kind of banking or financial services. They're unlikely to be recognized or counted as a citizen of that region, which then affects how government aid is spent.

Identity is foundational to everything that you and I take for granted. And so digital identity is crucial for a significant number of people around the world who can then take that identity and use it across multiple platforms with multiple government groups or agencies. And it's on the blockchain, so it's irrefutable, immutable and transparent.

Equal to this need for identity is that of education; we can’t implement these things without having those involved understanding how they are used. Is there an educational piece to your efforts as well?

One of the things that we try to do is to show that the underlying technology, which is blockchain, is different from all the crypto headlines you read. We educate folks on why this matters and why it's important through proving its effectiveness.

This is why a big part of our education effort at Algorand, is the demonstration of real-world cases by people who often live in the margins to prove the efficacy and the value of blockchain technology.

We also recently announced a partnership with the UNDP [United Nations Development Program] to offer a blockchain curriculum to their 22,000 staff. By educating a big agency like that, the knock-on effects are pretty significant, because UNDP has excellent relationships with governments in the 180 countries in which they operate. And if they in turn educate those government officials, then you have real learning at scale among policymakers worldwide.

Do you see a willingness to learn about these new technologies from groups like the UNDP and other national organizations?

Yeah, 100%. In fact, I recently gave a talk in the U.S. Senate that was put on by the Global Blockchain Business Council. And there were a lot of staffers there from many different Hill offices and agencies. Everybody was curious and wanted to know: What can this be used for? Homeland Security, for example, was there to understand how they can use blockchain for identification and how to use blockchain to reach people who are being affected by disasters.

I was on a call recently with the head of UNDP in Syria where the UN was trying to figure out how to get payments into the hands of people, without doing these big events where they hand out cash, which is ripe for violence, corruption and misuse.

And those are just two events that have happened in the last few weeks. There's an eagerness to learn, which is exciting for us, and a realization that this potential is far greater than what people know. It's going to take time, but the appetite to learn is there for sure.

I believe that having those educated conversations are going to lead to educated solutions. But you probably have a better idea of what these solutions look like in practice. Let’s use disaster relief as an example: Is there a clear path to how this could be solved? And how do you see blockchains impacting the future of disaster relief across the world?

Yeah, it's the future. Whether or not the future happens faster or slower is a different question. If you look at what disaster relief looks like today, big agencies are still using Excel spreadsheets and paper-based solutions, as are most other agencies that work in disaster relief around the world.

We just had an Impact Summit in India where I moderated a panel on disaster relief with speakers from the U.S. and India, and their problems were identical. The way they do it is antiquated, and the response time is between nine and 18 months for people to get the relief they need. You would not believe how ancient it feels.

There’s no doubt that blockchain can help correct these issues. This is one of the places where I'm pretty certain that blockchain is going to revolutionize the way people receive assistance in emergencies, partly because a key to this will be digital, decentralized identities. These identities will be owned by the survivor, who can then use that identity to seek assistance for multiple disasters across multiple agencies, and which also allows for those agencies to ensure that person is not abusing the system. We’ll be looking at this closely in 2024 as several agencies in the U.S. will begin to provide relief to designated families through something we have invested in called the Kare Survivor Wallet.

And another area for disruption is supply chain. There's no question in my mind that blockchain will be the foundation for most supply chains in the world.

Yeah, let's jump into supply chain and supply chain transparency. I'm curious to see how Algorand is positioning itself to solve these problems that you seem pretty bullish on.

I'm especially bullish because of the transparency and traceability of blockchain. One of the notable companies building on Algorand is WholeChain, which was created to bring visibility to fragmented supply chains and is partnering with some of the biggest companies in the world to do so. More and more people want to know where their product is coming from, and more and more regulators are demanding it.

Because blockchain provides transparency and traceability, the ability to track a product back to its source, through the entire supply chain, is transformative. It’s a game changer.

For example, some problems I witnessed while at the UN World Food Programme were proving that smallholder farmers are the ones that actually produce these products and ensuring that the recipient of the product is actually getting the product that was paid for. Blockchain solves a lot of these problems.

What does the future of the world look like with these impact initiatives being implemented on the blockchain? How is this future different from one where we continue to use the traditional systems?

I'll supply you one example, you know, in probably the most difficult country in the world to work in, which is Afghanistan. And in Afghanistan, you've got 97% unemployment. You've got millions who run the brink of real hunger. It's a mess. It's an absolute mess.

We have supported a payments platform called HesabPay with a substantial investment, which is a payments platform that allows organizations to provide aid to beneficiaries in Afghanistan. Through HesabPay, the UN can provide resources to people who are unemployed and in dire need of support.

Those payments are instantaneous, and not only get into the hands of vulnerable people in a safe way, but they're also traceable. So the agency that actually gives the money knows that the money is not being misused by government officials, or being intercepted by middlemen.

So those two pieces – instantaneous receipt which is safe and effective and traceability/trackability, which precludes the possibility of corruption – are transformational from my vantage point. Going forward, cash-based assistance within multilateral institutions will be moving toward blockchain solutions in the next few years.

How do you measure success for impact initiatives? What does success look like for the Foundation and for those supported by your efforts?

Yeah, it's a good question. I think it's about use and access. More access for previously marginalized individuals to a multitude of the services. Whether it's low fees when it comes to remittances, or in Afghanistan, for example, can more women get direct benefits more efficiently, quickly and safely by using a platform built on Algorand? In that particular case, a randomized control trial done by the London School of Economics answered with a resounding yes.

So there are concrete outcomes that we look for. And a primary one is access in a more effective way that provides direct benefits to marginalized individuals, particularly in distressed areas. And these goals can be quantified.

Before we wrap up, is there anything else you’d like to share with our audience?

At our Impact Summit in India, we highlighted all the work being done on the Algorand blockchain for impact, whether it's financial inclusion, environmental sustainability or impact more broadly. And when you bring all those people together, you see that there's something happening that is pretty profound in terms of how we're going to move forward to support the most marginalized populations in the world. I mean, in India alone, the projects that are underway – or about to get underway – are game changing. It is extraordinary to see all these young entrepreneurs who are daring enough to believe they can make a difference. And the use of this technology, particularly when it's in the hands of people building for impact, is really inspiring. When looking at the people we invest in, we partner with, we support, I just see nothing but hope. The ideas that come out of these people are so fascinating and groundbreaking that, if that's the future, I'm pretty happy with it.

For more on the Algorand Foundation’s commitment to impact and inclusion and the latest initiatives from Matthew Keller, check out the Algorand Foundation’s Impact page and a recap of the latest Algorand Impact Summit.

Fri, 29 Dec 2023 10:00:00 -0600 en text/html https://www.coindesk.com/sponsored-content/algorand-foundation-blockchain-for-real-world-impact-with-matthew-keller/
Etherscan Expands Blockchain Data Services With Solscan Acquisition

In a significant development, Etherscan, a key player in Ethereum blockchain data services, has officially acquired Solscan, a block explorer dedicated to the Solana blockchain.

This strategic move is part of Etherscan's overarching strategy to expand its capabilities and support across multiple blockchain networks.

Etherscan and Solscan: Unveiling Features and Background

Etherscan, established in 2015, functions as a block explorer for the Ethereum blockchain, facilitating users in accessing, searching, and filtering transaction data.

Blockchains, essentially digital ledgers, create an immutable historical record of transactions across various nodes.

While renowned for their roles in major cryptocurrencies like Bitcoin and Ethereum, blockchains also play a crucial role in supporting transactions related to nonfungible tokens (NFTs), representing ownership of digital assets.

Solscan, founded in 2021, mirrors Etherscan's features, specifically tailored for the Solana blockchain. According to Silicon Angle, it provides comprehensive transactional data, including detailed address information, token data, and NFT metadata.

Solana's Emergence and Solscan's Success Story

Solana, positioned as a competitor to Ethereum, distinguishes itself by offering high transaction speeds and low fees for decentralized applications and NFTs.

Solscan quickly emerged as the preferred block explorer for Solana, establishing itself as the go-to choice for users seeking profound insights into the Solana ecosystem.

Matthew Tan, CEO and founder of Etherscan, highlighted Solscan's proven expertise, emphasizing their shared commitment to making blockchain data accessible and user-friendly.

Strategic Vision and Collaborative Synergy

Solscan, backed by a $4 million funding round in December 2021, introduced an analytics dashboard, enhancing the overall user experience in viewing blockchain data.

The collaboration between Etherscan and Solscan aims to actualize Etherscan's vision, providing robust analysis and services across a spectrum of blockchains.

The acquisition is positioned as a "collaborative merging," focusing on offering credibility-neutral and equitable access to blockchain data. Etherscan envisions reinforced support for various blockchains, reflecting its unwavering commitment to user-friendly accessibility and data insights.

According to The Daily Hodl, Etherscan charts a strategic course for the future amidst the acquisition, detailing essential goals following the latest purchase. These include an unwavering commitment to executing its mission by providing impartial and fair access to blockchain data.

Moreover, Etherscan seeks to enhance user experiences by integrating valuable features across various explorers, aiming to elevate user support to unprecedented heights. The latest development comes on the heels of the explorer's integration of ChatGPT.

The press release concludes with a solid commitment to fostering the broader blockchain community's growth and adoption. Etherscan expresses confidence that this new addition to its team will significantly contribute to the ecosystem's vitality and resilience.

Photo: Kanchanara/Unsplash

Thu, 04 Jan 2024 20:00:00 -0600 en text/html https://www.econotimes.com/Etherscan-expands-Blockchain-data-services-with-Solscan-acquisition-1669027
7 Best Crypto to Buy Now: Guide to Promising Investments No result found, try new keyword!Bisq, the best cryptocurrency exchange, prides itself on prioritizing privacy and security and operates decentralized. This unique approach ensures heightened security and resistance to any form of ... Wed, 03 Jan 2024 05:00:00 -0600 en-us text/html https://www.msn.com/ This South Korean entrepreneur is making waves in blockchain analysis

[Source]

Meet Ju Ki-young, a South Korean tech entrepreneur who co-founded the blockchain analysis firm CryptoQuant.

About Ju: Born in 1992, Ju, an alumnus of Pohang University of Science and Technology, co-founded CryptoQuant with fellow alumni in April 2019. Before becoming its CEO and entering the blockchain sphere, he was a software engineer who offered analyses for businesses.

What CryptoQuant does: CryptoQuant, which South Korea's Chosun Daily dubs as the "Bloomberg of Crypto," provides on-chain and market data gathered from blockchain and major cryptocurrency exchange platforms. The company keeps track of every transaction that occurs in the market.

Making a name: Using on-chain data analysis, CryptoQuant says it was the first to notice the impending crash of the Terra-Luna cryptocurrency in May 2022 and the potential bankruptcy of FTX months after.

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Ju raised the red flag in an X post, pointing out how Terraform Labs' nonprofit, Luna Foundation Guard, transferred around 37,000 Bitcoins (approximately $1.59 billion in today's exchange) to Gemini, a cryptocurrency exchange. A few days after making the post, Terraform Labs' Luna, the sister token of stablecoin TerraUSD, crashed to virtually $0.

With its success, CryptoQuant signed a partnership deal with the Chicago Mercantile Exchange (CME Group), the world’s largest derivatives and options exchange, as the latter’s on-chain data provider in July of the same year.

Trending on NextShark: Intermittent fasting leads to changes in brain, gut: study

Helping solve crimes: Ju hopes that CryptoQuant could also aid governments and financial authorities in tracking cyber financial crimes. In 2019, the company used its expertise to uncover the e-wallets of those involved in the “Nth Room” scandal, leading to the arrest of masterminds Cho Ju-bin, Moon Hyung-wook and others.

Trending on NextShark: Korean restaurant worker shares PSA for non-Asians in viral TikTok

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Wed, 03 Jan 2024 09:32:00 -0600 en-US text/html https://news.yahoo.com/south-korean-entrepreneur-making-waves-233257775.html
Solana plans expansion into Brazil with $10 million investment No result found, try new keyword!Solana Foundation's Major Move to Brazil with Over $10 Million Investment in 2023. Unveiling plans for Web3, tokenization, and AI initiatives. Thu, 04 Jan 2024 00:52:00 -0600 en-US text/html https://cryptobriefing.com/solana-plans-expansion-into-brazil-with-10-million-investment/ Blockchain in Pharma Unleashes a New Era of Trust and Efficiency
In the ever-evolving landscape of pharmaceuticals, where precision, safety, and trust are non-negotiable, blockchain technology emerges as the beacon of a revolutionary transformation. Beyond its cryptocurrency origins, blockchain is poised to redefine lifescience businesses, reshaping processes from the laboratory to the global supply chain. As per a Gartner report, blockchain's business value in the pharmaceutical sector is poised for exponential growth, projected to surpass $176 billion by 2025 and reach an impressive $3.1 trillion by 2030. The report demonstrates the revolutionary potential of blockchain technology and signals a change in the way the sector operates, as well as its growing impact on healthcare.

Accelerating Innovation
In the realm of pharmaceutical research, the conventional approach to clinical trials has been hindered by inefficiencies, concerns about data integrity, and burdensome administrative procedures. The influence of blockchain on clinical trials is truly revolutionary. Through the provision of a secure and transparent platform, blockchain elevates the integrity of trial data, rendering it resistant to tampering and guaranteeing the dependability of research outcomes. Blockchain technology is being adopted by pharmaceutical companies more and more in an effort to Boost clinical trial efficiency and transparency. AstraZeneca, Novartis, Pfizer, Merck, Sanofi, Roche, and Sanofi are prominent players in this market. The introduction of smart contracts, which are code-based, self-executing agreements encoded in software, automates various facets of clinical trials, ranging from patient consent to data collection and compensation. This not only expedites the drug development process but also alleviates administrative burdens, allowing researchers to channel their efforts towards innovation. The collaborative and secure environment cultivated by blockchain is ushering in a new era of pharmaceutical research where transparency and efficiency are seamlessly intertwined.

Leading Pharma Companies and Their Focus on Blockchain in Clinical Trials

Pharma Companies Targeted Aim through Blockchain


Pfizer Actively engaged in initiatives exploring blockchain's potential to Boost transparency and reliability in clinical trial data
Merck Expressing interest in utilizing blockchain to enhance the security and integrity of clinical trial data management
Sanofi Actively exploring blockchain solutions for clinical trials, with a focus on improving data transparency and overall trial process efficiency
Roche Participating in discussions and initiatives related to the integration of blockchain technology in the pharmaceutical industry, including clinical trials
AstraZeneca Showing interest in leveraging blockchain to enhance data integrity and streamline the clinical trial process
Novartis Exploring blockchain for various healthcare applications, including clinical trials, with a focus on improving data management and transparency


(Source- Refer reference 3-6 )

A rising understanding of blockchain technology's potential benefits in resolving data-related issues in clinical trials is indicated by the leading use of this technology by these companies. Fortifying Trust in Drug Manufacturing

The pharmaceutical manufacturing operation is undergoing a transformation with the integration of blockchain, presenting significant advantages to the industry. According to the E&Y report, "Indian Pharmaceutical Industry 2021: The Future is Now," In 2019, 10 of the top pharmaceutical companies (Amgen, AstraZeneca, Astellas, Bayer, Boehringer Ingelheim, Servier, GSK, Janssen, Novartis, and Merck), two of the top European universities (KU Leuven and the Budapest University of Technology and Economics), four start-ups, and an artificial intelligence (AI) computing platform provider formed the European project MELLODDY, or Machine Learning Ledger Orchestration for Drug Discovery. Using federated learning and blockchain, the platform seeks to eliminate the trade-off between security and data sharing. Addressing crucial issues like traceability, quality control, and regulatory compliance, blockchain’s decentralised and secure ledger guarantees the integrity and transparency of data at every stage of the manufacturing process. By establishing an immutable and transparent ledger, blockchain ensures compliance with stringent regulatory requirements, offering a traceable and auditable record of manufacturing processes. This not only streamlines regulatory reporting but also enhances data integrity and accountability, crucial in the pharmaceutical sector. Additionally, blockchain mitigates the risk of counterfeit drugs, contributing to regulatory compliance and patient safety. Smart contracts automate and enforce compliance protocols, reducing the administrative burden and ensuring adherence to regulatory standards. Ultimately, the integration of blockchain in pharmaceutical manufacturing operations not only improves regulatory compliance but also fosters a more efficient, secure, and trustworthy industry, positively impacting both stakeholders and end consumers. All these things considered, the incorporation of blockchain technology into pharmaceutical manufacturing operations is promoting a more robust, transparent, and effective business, giving stakeholders increased assurance regarding the quality of the products and the dependability of the manufacturing process.

Revolutionizing Pharma Supply Chain

While blockchain has the potential to assist life sciences business operations, its effects are more noticeable in the supply chain. Overseeing inventories, handling logistics, and combating counterfeiting and theft are perennial challenges that have plagued the industry. There is an economic advantage as well, though major pharma companies declined to speculate on how much money blockchain could save them. However, the report indicated that reducing the amount of recalls and expediting packaging lines are two potential benefits of not printing paper flyers. In the last five years, 13% of all pharmaceutical recalls have been related to problems with the packaging or inserts. Mislabeling recalls can be more significant in scope than manufacturing process recalls, which account for almost half of the 334 average annual drug recalls.

To overcome such challenges, blockchain provides a decentralized and secure ledger that ensures every transaction is recorded transparently and is tamper-proof. And with the help of this, the efficiency of managing inventories and logistics has grown dramatically. A component of blockchain technology called smart contracts speeds up procedures and reduces overhead by enabling safe, seamless transactions. Increasing operational efficiency and cutting costs for businesses overall are the outcomes of supply chain optimisation. By addressing these supply chain vulnerabilities, the likelihood of counterfeit medicines entering the market is decreased, and the integrity of pharmaceuticals is maintained.

Building Transparency and Trust and Fortifying Health Data

At the very core of healthcare lies the individual—the patient. Blockchain technology is laying the foundation for a patient-centric approach by revolutionizing how health data is managed, shared, and secured. Traditional health records often exist in fragmented silos, making it cumbersome for patients and healthcare providers alike. Blockchain's decentralized nature allows for the creation of a secure and interoperable health data ecosystem.

Patients, armed with cryptographic keys, can control access to their medical information. This guarantees the highest level of security and privacy while also enabling people to actively engage in their healthcare decisions. The blockchain turns electronic health records and treatment histories into an unchangeable ledger, lowering the possibility of data breaches and unauthorised access. More personalised and adaptable healthcare interventions are made possible by this fundamental move towards patient-centric data management.

NITI Aayog's Initiative

India's commitment to harnessing blockchain's potential in healthcare is evidenced through NITI Aayog's partnership with Oracle, Apollo Hospital, and Strides Pharma Sciences. With the help of IoT technologies and a decentralised blockchain ledger, this innovative project seeks to assess a legitimate pharmaceutical supply chain. It especially addresses issues like data security, inefficiencies in logistics, and the risk of counterfeiting that are real concerns in the pharma supply chain. By leveraging blockchain and IoT technologies, this collaboration seeks to create a strong and open supply chain ecosystem. Such initiatives have the potential to have profound effects that fundamentally transform the functioning of supply chains, setting new benchmarks for efficiency, security, and trust.

On the Horizon - Challenges and Opportunities

Like any revolutionary technology, blockchain presents challenges alongside promises. Integrating it into existing systems, standardizing protocols, ensuring regulatory compliance, and navigating initial investment requirements pose formidable obstacles. However, these challenges pale in comparison to the vast opportunities that blockchain brings to the sector. The potential to establish a secure, transparent, and collaborative ecosystem is significant. Blockchain holds the capability to dismantle silos, allowing stakeholders to securely and collaboratively share data. This not only cultivates a culture of transparency but also expedites innovation, catalyzing breakthroughs in drug development and research.

The Dawn of Transparent Pharma

In conclusion, the integration of blockchain technology in the pharmaceutical industry marks a significant stride towards enhancing efficiency and building trust. Despite challenges to seamless integration and the establishment of universal standards, the transformative impact is evident. By providing a secure and transparent platform, blockchain ensures the integrity of critical data in clinical trials, manufacturing, and supply chain management, thereby addressing long-standing issues such as inefficiencies, data integrity concerns, and counterfeiting.

The use of smart contracts automates processes, streamlining clinical trials and reducing administrative burdens, allowing researchers to focus on innovation. The collaborative and secure environment cultivated by blockchain not only accelerates drug development but also fosters a new era of pharmaceutical research where transparency and efficiency are interconnected. As the industry navigates the hurdles of incorporating blockchain into existing systems, the ultimate goal is to establish a manufacturing ecosystem where transparency is not just an aspiration but an inherent quality. In doing so, blockchain becomes a cornerstone for building and reinforcing trust, paving the way for a more resilient and innovative pharmaceutical landscape.

(DISCLAIMER: The views expressed are solely of the author and ETHealthworld.com does not necessarily subscribe to it. ETHealthworld.com shall not be responsible for any damage caused to any person/organisation directly or indirectly).

  • Published On Dec 30, 2023 at 05:45 PM IST

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Fri, 29 Dec 2023 22:15:00 -0600 en text/html https://health.economictimes.indiatimes.com/news/health-it/blockchain-in-pharma-unleashes-a-new-era-of-trust-and-efficiency/106404339
InvoiceMate Performs First Private Credit Transaction On XDC Network Blockchain Using TradeFinex Open Source Web3 Standards

In a major milestone, InvoiceMate has wrapped up a successful pilot initiative, showcasing the seamless tokenisation of an invoice using the XDC blockchain protocol. The project harnessed the power of TradeFinex's open-source smart contract standards.

In a groundbreaking transaction, InvoiceMate showcased the potential of obtaining liquidity by tokenising a Real World Asset (RWA). Acting as the loan originator, InvoiceMate secured funds for client H & H International LLC through the tokenisation of essential documentation including the invoice. This streamlined process resulted in a cash flow of $FXD 100,000 (FXD) for a 60-day period. $FXD is a fully decentralised stablecoin soft pegged to US Dollars and overcollateralised with the $XDC token using the Fathom Protocol and primarily focused on for RWA DeFi use cases. The success underscores the efficiency and innovation of blockchain-powered financing in traditional finance.

InvoiceMate successfully achieved the following milestones: 

  • Converted a paper-based invoice into an electronic invoice. 
  • Tokenisation and fractionalisation of the electronic invoice.
  • Capital provisioning against the fractionalised electronic invoice for a 60-day period using FXD stablecoin.

Participants in the pilot included:

  • InvoiceMate: Loan Originator & Tech Facilitator
  • H & H International LLC: Client
  • Eclipton: Institutional Digital Asset Custodian
  • TradeFinex : Open Source Smart Contracts Standard Reshaping the Trade Finance and Private Credit Landscape

Solutions used in the pilot:

  • TradeFinex: Resource for open source Smart Contract standards for RWA focused in Private Credit Solutions
  • Blockchain Network: XDC Network is an Enterprise-Grade, Open-Source Blockchain Protocol.
  • $FXD: Stablecoin soft pegged to USD and overcollateralised using the $XDC token
  • Eclipton: Institutional Digital Asset Wallet to customise as well as on/off ramp for stablecoin FXD to USD and vice versa. 

This pilot transaction is an important milestone in the partnership between TradeFinex and InvoiceMate, a FinTech with a platform focused on Invoice Financing.

Muhammad Salman Anjum, CEO of InvoiceMate said, “This successful transaction represents the first step in our collaboration with TradeFinex using XDC Network. We are actively exploring the XDC Network as the blockchain protocol for future pilots within our invoice financing platform."

"Deploying smart contracts powered by the XDC protocol allows us to address the MSMEs funding gap in trade finance. We look forward to scaling up Private Credit deal flow with like-minded partners and establishing standards within the RWA space using Powerful Smart contract Standards created by Tradefinex." commented Chen Shanlong, Marketing and Partnerships Lead of XDC Network and TradeFinex.

Mahesh Kumar, CEO of Eclipton added, “Eclipton's core value is to bring more use cases to the blockchain and crypto industry, offering access to a wide range of financial instruments, including stocks, crypto, bank accounts, and cards, all in one place. The collaboration with XDC and Invoicemate further strengthens Eclipton's commitment to expanding blockchain applications and fostering financial inclusion through innovative solutions.”

About InvoiceMate 

InvoiceMate is the world’s first blockchain-based invoice management system, ensuring trust and efficiency at every stage of invoice processing. The blockchain and AI powered system ensure transparency across the whole invoice journey from invoice creation, approval, payment, and financing.

About TradeFinex

TradeFinex.org - An institutional grade ISO20022 compliant non-custodial protocol for Trade Finance built on standardization and built-in liquidity of XDC Network via Fathom dollar (FXD).

TradeFinex ensures a truly open-source and decentralized environment for originators, banks, institutions and users. 

About XDC Network
The XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible, Layer 1 blockchain, operational since 2019 focusing on Enterprise use cases such as Trade Finance, Payment and RWA tokenization. More details at: Xinfin.org 

About Eclipton
Eclipton.com is a Digital Custodian and Exchange, forming a crucial part of the comprehensive cryptocurrency ecosystem designed to provide financial freedom through AI. Eclipton's services encompass on and off-ramp solutions in over 8 countries and access to over 100,000 traditional instruments and crypto instruments. Eclipton's payment gateway helps Web3 on and off-ramp with one-click integration, inbuilt risk management, and auto-settlement features.

This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Mon, 25 Dec 2023 20:03:00 -0600 en text/html https://www.benzinga.com/markets/cryptocurrency/23/12/36385876/invoicemate-performs-first-private-credit-transaction-on-xdc-network-blockchain-using-trad
Student Coin Launches the STC.University - A New Era in Web3 Education No result found, try new keyword!The platform offers a range of courses, each focusing on key aspects of blockchain technology: Foundations of Decentralized ... a comprehensive source of blockchain education and information. Student ... Wed, 20 Dec 2023 18:25:00 -0600 https://www.kansascity.com/press-releases/article283377838.html John Lilic Joins the Telos Foundation as Executive Director

Lilic was previously one of Consensys' earliest employees and a key advisor to Polygon

LONDON, Jan. 4, 2024 /PRNewswire/ -- The Telos Foundation announced today the appointment of John Lilic as the organization's Executive Director. In the role, Lilic will help spearhead Telos' evolution into a Layer 0 network underpinned by ZK technology aimed at attracting developers and users worldwide.

A renowned trailblazer in the blockchain and digital asset community, Lilic was an early adopter and volunteer at the Bitcoin Center NYC in 2014, before joining Consensys as one of the company's first employees in 2015, where he helped build MetaMask and other transformational technologies. More recently, he joined the Polygon team as a primary advisor, which has since cemented its position as one of the world's most utilized cryptocurrencies under his advisorship.

While navigating various roles across the industry's most pioneering organizations over the last decade, Lilic has also successfully maintained his status as a Top 50 Web3 Angel Investor.

Lilic is set to transition into the public face of the Telos Foundation and represent the Telos community at various conferences and events around the world. He'll also work to establish new relationships with key partners while providing direction and support for the foundation's technology development, grant programs, research, budgeting and educational efforts. He'll be building in tandem with Telos Foundation CEO, Lee Erswell, to set direction and also work closely with former CEO and current Head of Strategy, Justin Giudici, to expand awareness and growth potential for Telos.

"I'm looking forward to applying my extensive experience and insights from my time with the Bitcoin Center NYC, Consensys, Polygon and other successful ventures," said Lilic on joining Telos. "My goal is to help steer Telos on a path to success by focusing on product development with novel ZK Proof technology and expanding our network capabilities and usage, thereby ensuring Telos thrives in this ever-evolving industry."

In his first official act as Executive Director, John will donate the headline sponsorship for ETHCC 2024 to Telos, along with an additional sponsorship at ETH Belgrade 2024. These sponsorships are expected to be major platforms for Telos' upcoming ZK technology releases, and important opportunities to expand the network's presence and influence in Europe.

To further support Telos' growth and expansion, Lilic and the Telos Foundation will also work to establish an external advisory board made up of world class talent in 2024.

"We are delighted to welcome John Lilic to the Telos Foundation," said Erswell. "His expertise and vision align perfectly with our goals, and we are confident that his leadership will propel us to new heights in our mission to develop a more sustainable and equitable blockchain ecosystem."

For more information about Telos, visit telos.net.

About Telos:

Telos is a decentralized blockchain ecosystem renowned for its world-class Ethereum Virtual Machine (EVM), which tested as the fastest globally, as well as its high-speed consensus layer, Telos Zero. Telos is currently expanding its capabilities with novel Zero Knowledge (zk) technology, which promises to enhance privacy and scalability for global use cases. Telos is dedicated to creating a more inclusive and efficient future for decentralized applications, underscoring its commitment to driving progress and expanding the possibilities of Web3 technology. Telos is overseen by The Telos Foundation, an ownerless foundation dedicated to advancing the Telos blockchain network and its community.

Media Inquiries: press@telosfoundation.io      

Thu, 04 Jan 2024 00:00:00 -0600 en text/html https://www.prnewswire.co.uk/news-releases/john-lilic-joins-the-telos-foundation-as-executive-director-302026083.html




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