30/07/2018: Biggest Stories in the Cryptosphere

1. Dubai To Disrupt Own Legal System With Blockchain

The Dubai International Financial Center (DIFC) Courts, a court specialised in dealing with civil and commercial disputes in the financial industry, has announced the plan to integrate blockchain into their system. The project, called “Court of the Blockchain”, will enable the consolidation of the entire process. The blockchain-based legal platform will be created by a task force built in collaboration with the government-backed Smart Dubai. DIFC wants different courts to share information on a decentralised network, with the help of blockchain and smart contracts. The goal is to run all of the applicable government transactions on blockchain by 2020.

2. Success: Commonwealth Bank’s Global Trade Blockchain Trial

A cross-border shipment that used blockchain to track goods in the supply chain has been completed by the Commonwealth Bank of Australia (CBA). The bank, one of Australia’s “Big Four”, issued a statement today. A private blockchain platform tracked the shipping of 37,000 pounds of almonds from Australia to Germany. The platform was developed by the bank on top of the Ethereum network. Key parties along the supply chain were included through participating nodes in the blockchain system. These parties included agriculture producer Olam Orchards, logistic carriers, port operators, and the Port of Melbourne. The blockchain-based system stores the data of containers, documents, and financial transactions on the blockchain. This means that the parties involved can view track the shipping information in real time. This can include the shipment’s status, and the temperature and humidity of the containers. This can create greater transparency and efficiency for all parties. CBA previously partnered with Wells Fargo to trial the system with a cotton shipment.

3. Why Google Is Removing Crypto Mining Apps

Last Friday, we reported on Google banning crypto bans from the Play Store. NewsBTC shared the probable reason. The tech company fears the process might pose risks to the device, including internal damage. Another fear is represented by mining malware, which can be transferred through public Wi-Fi networks and websites. Russian security firm Kaspersky Lab stated that two days of Monero mining on a laptop led to physical damage, including a swollen battery. On a brighter side, there are rumours saying that Google started “whitelisting certain cryptocurrency companies, allowing them to run ads”.

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