Development projects conduct measuring, reporting and verification (MRV) processes measure the outcome and impact of projects.

Distributed ledger technology stores data batches in blocks on the network, and the need for independent verification from the network’s users makes the records transparent, secure, verifiable, and immutable, thus improving data auditability and reducing misreporting/fraud of data.

If we must identify the precise activity of a typical development project where blockchain technology can be leveraged, then it would collect and time-stamp project-level data for monitoring purposes.

The challenge is many resource-crunched development projects, especially in developing countries, still collect field data by hand, which can lead to inaccuracies, mistakes and fraud.

Local institutions in the developing countries that implement such projects often lack the systems to ensure the data they report is verifiable.

Blockchain can

• reduce the data risks of local-level institutions,
• improve the validity of the data they report for impact, and
• instill confidence in foreign private donors/investors to fund such development projects.

What this implies is more financing flow can be committed to the local level.

With blockchain enabling local projects to report verifiable performance as part of their MRV processes, local development institutions can gain a greater supply of capital.

The Amazon in Brazil is an example.

The Rainforest project uses blockchain and the Internet of Things to record and transfer data from electrical meters, robotic appliances and emission monitors on the environmental impact. Remote sensing satellites independently verify the status of patches, upon which blockchain smart contracts directly reward the farmers who preserve their rainforest patches. The outcome data is verifiable, and the exclusion of intermediaries while transferring incentives minimizes administrative costs and the siphoning of funds.

Blockchain-enabled MRV processes help disintermediate the intermediaries in a social or sustainability bond issuance, thus reducing issuance costs and making it possible for small enterprises to access the bond market or aggregate smaller assets into bonds.

Limitations: internet capacity and technology literacy.

Summary:

Blockchain’s revolutionary role in improving the MRV processes around data can mobilize more private capital investments for development projects executed by local-level institutions in developing countries.

Excerpt from article “Blockchain tech makes sustainable development goals more achievable” by Sourajit Aiyer and Jae-Hoon Kwak published on CoinTelegraph.

The post Blockchain and Sustainable Development Goals appeared first on Blockchain Insider.

December 21, 2020, 10am-11am

Some of the benefits blockchain will bring to the healthcare industry includes faster payment along the value chain (either payment to vendors in supply chain or payment to patients in medical insurance claims etc.), and tamper-proof audit trails for administrative or regulatory purposes.

Shorter or instant payment time because everybody is using the same ledger, thus no reconciliation needed.

Tamper-proof because blockchain promises immutability to verified data.

Blockchain Technology & IoT, Linking Medical Research To Healthcare Industry

The above file was presented in a webinar (through Webex) titled
“Blockchain Technology & IoT Linking Medical Research to Healthcare Industry” back in 21st December 2020, 10.00 am – 11.00 am GMT+8.

Video link: https://www.facebook.com/informm.usm/videos/1390535027783816

Thank you USM for hosting such a great webinar.

The post Blockchain Technology & IoT, Linking Medical Research To Healthcare Industry appeared first on Blockchain Insider.

We shall see more and more supporting news for what had been perceived to be happening in coming years.

Two to three years down the road will see the consolidation of Blockchain industry and the fulfillment of ICO projects (success or not).

90% of the conceptional coins that are baseless (in terms of usability and community support/circulation) will vanish, just as what happened in the early days during the dotcom bubble.

Those who stay will be like the Netscape, Yahoo, ICQ during the early days of the world wide web.

We will see more successful use cases for Blockchain technology, such as the recent announcement by global diamond giant De Beers that it tracked 100 high-value diamonds from the mine to the retailer using blockchain technology. This will be one of the references for many other supply chain related projects, such as those related to #automotive industry, safe food resources, luxury goods tracking etc.

This is a vibrant industry and we have quite a promising future. Where do you want to go today?

For further readings

I summarized the first 3 chapters of my yet to be completed book into 8 pages of speech transcript here:

And yes, Coin Telegraph is a good source of crypto and blockchain related info, it’s one of my daily breakfast read for the moment.

Related News:
IBM Announces 1,800 New Jobs in France In Blockchain, AI, and IoT Within Next Two Years
IBM CEO Virginia Rometty has announced that in the next two years the company is planning to create 1,800 jobs in France in the fields of Artificial Intelligence (AI), blockchain, and the Internet of Things (IoT), Le Monde reported 23rd May 2018.

Blockchain in demand: Breaking into the growing job market, 9th October 2017
While companies continue to create new job roles because of the fast, transformative effects of blockchain, many of those positions remain vacant because demand is outpacing supply.

The post Blockchain Project Fulfillment and Consolidation appeared first on Blockchain Insider.

German Ingolstadt-based car manufacturer Audi is testing Blockchain technology for its physical and financial distribution processing. With its new solution, Audi aims to increase the security and transparency in its global supply chains. The car manufacturer released a Proof-of-Concept (PoC) of its Blockchain system last year, after successfully testing the technology based on Hyperledger Fabric. Due to positive feedback, Audi’s management decided to advance the project beyond the PoC stage.

Germany-headquartered car manufacturing giant Daimler AG, famous for its Mercedes-Benz and Smart brands, presented its own Blockchain-based digital currency MobiCoin at the Mobile World Congress 2018 in Barcelona.

BMW, another German car manufacturer has allegedly closed a second partnership with a Blockchain startup, this time to source ethical cobalt for its products.

Volkswagen (VW) has announced a cooperation agreement with the IOTA Foundation, with plans to potentially incorporate blockchain technology into the autonomous driving initiatives of the German car giant which owns Lamborghini.

Dubai’s transport authority has revealed plans to create a vehicle lifecycle management system using Blockchain as part of the Dubai 10X initiative. The Roads and Transport Authority (RTA) said the project seeks to improve customer experience by providing a vehicle history from the manufacturer all the way to the scrap yard. In other words, buyers and sellers will be able to track where the vehicle is in its lifecycle.

What’s cooking here in Malaysia?

A Visit to MAI – Malaysia Automotive Institute

We made a visit to MAI (Malaysia Automotive Institute) in Cyberjaya on 30th March 2018, to discuss Blockchain technology and the possibilities on how the automotive industry can apply it from policy and regulation’s point of views.

We met Dato Madani Sahari, the CEO of MAI, who is very open-minded and far-sighted, shown from how he was able to interpret and explain the concepts to his colleagues during the meeting. MAI’s Assistant GM from Strategic Division, Mohd Sharulnizam bin Sarip also provided us a lot of useful points to ponder with his comments and feedbacks. We have quite a fruitful meeting with all the nice people from MAI who joined the briefing.

Effendy Zulkifly, founder of BCRC (Blockchain Research Center) Malaysia gave a good presentation on how Blockchain can play a role in the automotive industry.

This was an exciting and great meet up with MAI’s team. From left, representing BCRC Malaysia’s chapter, Effendy Zulkifly, How Tze, Dr. Andi from Indonesia, and Amir from AGA Group.

MAI’s Electric Car

Met this cutie on our way back. The electric car is charging outside the parking area.

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