Blockchain
KPMG Announces Participation In Trusted IoT Alliance Organization
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KPMG LLP announced today that it’s joining the Trusted IoT Alliance organization, to help catalyze the expansion of a blockchain-enabled and trusted Internet of Things (IoT). Blockchain’s decentralized systems have the opportunity to improve IoT infrastructure, allowing companies to simplify business processes, improve customer experience, and achieve significant cost efficiencies through the use of IoT.
The mission of the Trusted IoT Alliance organization is to develop and set the standard for an open source blockchain protocol, and to support IoT technology in major industries worldwide for Fortune 500 enterprises, blockchain developers, and blockchain technology companies.
According to KPMG’s U.S. Blockchain Leader Arun Ghosh, “Our membership with the Trusted IoT organization brings together the key players in business transformation and technology to drive a secure and standardized IoT framework backed by blockchain. This will enhance the value of these emerging technologies for both KPMG and our clients, while enabling us to help improve data security among IoT devices and networks.”
KPMG’s 2019 Tech Innovation Survey found 23 percent of tech executives expect IoT processes to be one of the greatest blockchain disruptors over the next three years. However, accelerating the rate of IoT adoption overall has been challenged by limitations in device security and data assurance.
The Trusted IoT Alliance organization seeks to utilize blockchain and other security technologies to introduce trust into IoT, leverage the automation potential of trusted IoT sensors with smart contracts, and to evaluate the ROI of use cases enabled by trust, among other initiatives.
“The convergence of IoT and blockchain allows us to build better transparency between contracting parties, track service completion using sensor data as well as smart contracts to automate payment processing, and provide real-time product traceability with secure data aggregation across a supply chain, in addition to several other use cases,” said Ghosh.
“We’re very proud to have KPMG join the Trusted IoT Alliance organization,” said Trusted IoT Executive Director Zaki Manian. “We’re excited to collaborate with a leading firm that has a strong track record offering emerging technology solutions for their audit, tax, and advisory clients to anticipate and accelerate digital transformation efforts.”
SOURCE KPMG LLP
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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