Top Blockchain Moments to Remember in 2021
Top blockchain moments to memorize this year
As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions.
The Indian government doesn’t want anything to do with cryptocurrencies but is open to blockchain technology
The government on Tuesday said it will take all measures to eliminate the use of crypto-assets in funding illegitimate activities or as part of the payment system. In a written reply to Rajya Sabha, Minister of State for Finance Pankaj Chaudhary also said the government will explore the use of blockchain technology proactively for ushering in the digital economy. “The government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate the use of these crypto-assets in financing illegitimate activities or as part of the payment system,” he said. A High-Level Inter-Ministerial Committee (IMC) constituted under the Chairmanship of Secretary (Economic Affairs) to study the issues related to virtual currencies and propose specific actions to be taken in this matter recommended in its report that all private cryptocurrencies, except any cryptocurrency issued by the State, be prohibited in India.
Microsoft to Shut Down Azure Blockchain Service
Microsoft is shutting down Azure Blockchain Service. No new deployments or members are possible, but existing deployments have until September 10 to migrate to another platform. Microsoft first began offering blockchain technology on its cloud platform back in 2015, but just resold other companies’ offerings. In 2019, it launched the fully managed service Azure Blockchain Service, for the formation, management and governance of consortium block chain networks.
US Navy to Pilot Blockchain-Based Project to Improve Medical Supply Lines
The United States military continues to explore blockchain technology to improve its processes. The U.S. Navy has signed a US$1.5-million contract with Consensus Networks to develop a blockchain-enabled logistics system named HealthNet back in May. The project, built on the Internet of Things-focused block chain IoTeX, is halfway complete, counting the days for its pilot scheduled for early 2022. According to the information shared with Cointelegraph, Consensus Networks aims to provide real-time monitoring and logistics for nearly 700,000 sailors and marines via the HealthNet platform. The developer picked the IoTex blockchain to meet the security and scalability requirements of the Navy.
Twitter Sets Up a Cryptocurrency Team to Explore Blockchain uses
Twitter is assembling a new team to look into development in the decentralized cryptocurrency space led by seasoned Blockchain engineer Tess Rinearson. According to Rinearson, Twitter Crypto—will serve as a “center of excellence for all things blockchain and Web3” at the social media network. This development has come after the social media giant in September said that it was introducing a new tool that will enable users to send tips to others for their content using Bitcoin. Rinearson on Twitter revealed the social media giant’s crypto plans. She tweeted, “First, they’ll (Twitter) grow decentralized apps (DApps) for creators to manage virtual goods, currencies, and ways for their fans to support their community.”
First-Ever Blockchain-Based Taxi Service Launched in Bengaluru by DRIFE
India’s first-ever blockchain-based ride-hailing platform has launched its first set of active operations in Namma Bengaluru, aiming at transforming the mobility industry. DRIFE has officially announced its pilot launch in India. DRIFE is a decentralized ride-hailing platform built on blockchain technology and is the first-ever blockchain model to be implemented on the ground. Three months after the launch of their native $DRF token, DRIFE has announced its pilot launch in Bengaluru, representing the first of many cities that the block chain powerhouse is targeting.