About the crisis in kriptonyte

Crypto-currencies losing value throughout 2018. In the period from January to December the price of bitcoin fell five times from $17 500 to $3 500, while the price of live has decreased in 10 times — from $1 300 to $130. ICO-companies that attracted cryptocurrency tens and hundreds of millions of dollars in 2017, has faced problems. And it’s not just the frustration of users in technological development of products, as reported by researchers from GreySpark Partners.

The sharp drop in prices led to the scarcity of resources for startups that after the ICO kept the money in bitcoin, ether and other altonah. So, Ethereum browser Status gathered at ICO $100 million in the summer of 2017 and a half later, fired 25% of employees. Blockchain startup Nebulas attracted to ICO $60 million in December 2017, and after eight months was reduced to 60% of the staff.

The drop in cryptocurrency prices has affected the companies whose business is related to mining. Chinese manufacturer mining equipment Bitmain has suffered losses in $500 million according to the results of the third quarter of 2018. In the network appeared rumors about the reduction of 50% of employees.

Photo: Facebook Bitmain

On the background of the crisis of kriptonyte 2018 edition of intellectual property iPR Daily has published statistics on patents related to the technology of the blockchain. According to the September survey, the largest technology and financial companies have patented dozens of designs.

According to the Daily iPR, and China’s Alibaba have issued 90 patent applications, IBM — 89, Mastercard — 80 financial conglomerate Bank of America — 53, Central Bank of China — 44.

And that’s just the top five spots. In addition, blockchain implements Facebook, the Taiwanese smartphone manufacturer HTC, a Bank holding company HSBC. What corporations blockchain? Here are some examples for the first quarter of 2019.

For publishing business

In January, Automattic, developer of WordPress, announced a publishing platform Newspack for medium and small news sources. Newspack will offer users the widget Publisher to archive content in the blockchain.

Among the investors of the project — the developer of Ethereum solutions ConsenSys.

Two months later, the American newspaper New York Times published a vacancy of the developer of the concept of the blockchain for publishing purposes. The NYT was looking for a technician willing to experiment with a duration of one year. The results will be observed by the staff of the New York Times, colleagues from other media, advisors from academia and from representatives of social networks.

For cryptocurrency transactions from smartphones

In February 2019, the South Korean electronics manufacturer Samsung has confirmed the introduction of private storage for crypto keys in the Galaxy S10, S10e, and S10+. The solution is called “Samsung Knox”. With it, smartphone users will securely store private keys to the blockchain mobile services.

Photo: Samsung

At the conference Mobile World Congress, held in late February in Barcelona, the Taiwanese mobile device manufacturer HTC has announced the opportunity to buy a blockchain-mobile EXODUS 1 for US dollars and other traditional currency.

Earlier, people were buying the gadget for bitcoins and esters. In EXODUS 1 embedded crypto “Zion Wallet” to manage the blockchain transactions and storing private keys. The wallet is not associated with the smartphone operating system, which increases protection from intruders.

For banking operations

In January, HSBC held on the blockchain 3 million of exchange operations with foreign currencies and 150 thousand payments using its own blockchain platform FX Everywhere.

A month later, HSBC has reduced transaction costs in foreign currencies by 25% thanks to the platform.

According to the operating Director of Bank Mark Williamson, the platform handles up to 5 thousands of operations daily. The total volume of transactions in January 2019 amounted to $350 billion.

At the beginning of the year “the absolute Bank” released a digital Bank guarantee for a blockchain platform “Mastercam”. The financial institution recorded in a distributed registry a guarantee on the supply of food for the medico-sanitary part No. 59, Federal medical-biological Agency.

According to the head of the blockchain-direction of the Bank “AK bars” Evgeny Arkhipov, the blockchain reduces the time of issue of the Bank guarantee up to 10 minutes, and the cost is 20%.

In late January, VTB Bank patented multiministry payment system on the blockchain. The decision will lower the costs of fast payments and cross-border transfers. The system can use both physical and legal persons. The unit of calculation is the ruble. Use cryptocloud is not supposed to.

For transparency of supply chains

In early February, IBM used the blockchain for registration 28 tonnes of mandarins and oranges during the transportation from China to Singapore.

Photo: Unsplash

IBM moved to the blockchain electronic bill of lading (e-BL) is the primary shipping document. The decision reduced the duration of administrative processes in one second.

In the February edition of the CoinDesk published the news that Apple has participated in the development of the “guide to the blockchain” for supply chains of minerals. The initiative aims at creating common standards of use of the blockchain for monitoring supply chain of raw materials.

***

These events confirm the trend of the transition initiative for the development of the blockchain from start-UPS to corporations. Big business is not dependent on the current stage of maturity of the technology and the fluctuations of cryptocurrencies, and therefore allows itself to Fund the experiments.

While startups reduce up to 80% of the staff on Facebook opens 25 vacancies related bloccano. While startups frustrate users with its products, rostec plans to test a distributed registry Vostok for the collection and processing of data.

Corporations not holding the blockchain as a panacea for everything and are not willing to change the user experience. Largest company check on the blockchain is able to improve existing business processes.

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Cover photo: Unsplash

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