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Adoption of Blockchain for Agricultural Commodity Trading Brings Challenges

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Blockchain, the distributed ledger technology behind cryptocurrencies like Bitcoin, which allows multiple computers to store identical transaction records, is still in its infancy. Yet interest in blockchain and enthusiasm about its bevy of potential benefits has led to a flood of investment and pilot programs from companies around the world as they race to harness its power to aid tracking and transparency.

Blockchain innovations in agriculture are numerous but have been slow to gain industry-wide acceptance, particularly in the realm of global agriculture commodity trading. According to a new report from CoBank’s Knowledge ExchangeDivision, blockchain application to commodity agricultural trade brings a unique set of challenges. Obstacles include grain blending along the supply route and a lack of digital documentation within sections of the supply chain. However, digital solutions are evolving quickly, creating an environment where blockchain technologies may become more viable in ag commodity trading in the future.

“Previous attempts to digitalize trade finance with tools like bank payment obligation have been slow to take hold, raising doubts among some market participants about new digitalization efforts like blockchain,” said Tanner Ehmke, manager of CoBank’s Knowledge Exchange Division. “Nonetheless, banks and agribusinesses remain keen on finding distributed ledger solutions to deploy industry-wide and potentially achieve efficiencies from faster transaction speeds, less cumbersome documentation, and simpler and faster payments between buyers and sellers around the world.”

Blockchain data for grain traded on the inland river system would also have to integrate with systems for ocean-going vessels heading to international markets, thereby requiring international standards for data and governance. Given the current geo-political environment in global trade, such an evolution in international cooperation will likely be years in the making.

A video synopsis and the full report, Blockchain in Agricultural Commodity Trading: Dream or Reality? are available on cobank.com.

 

SOURCE CoBank

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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