Kenya may likely be moving towards tokenizing its economy to solve the alarming rate of corruption and unemployment in the country, following suggestions made by Bitange Ndemo, chairman of Kenya’s Distributed Ledgers and Artificial Intelligence task force, during a stakeholders meeting between the Information and Communication Technology Ministry (ICT) and private sector, The Star news outlet reported.
Kenya has taken a keen interest in blockchain technology and remains one of the African nations at the forefront of the technological revolution. The Distributed Ledgers and Artificial Intelligence task force was established by the government in March to understand the technology and find ways to integrate it to the public sector. It is made up of blockchain experts, Kenyan blockchain startups, researchers, legal practitioners, regulatory bodies, and other associated parties.
Ndemo is convinced that tokenizing the economy will turn the nation’s economy around. He said, “We must begin to tokenize the economy by giving incentives to young people to do things which they are paid through tokens that can be converted to fiat currency.” He believes that adopting crypto tokens can help increase employment in the country. Ndemo also outlined the importance of creating a digital currency that can be equivalent to fiat currency.
This is not the first time that the task force suggested the creation of a cryptocurrency. In July, the task force presented the idea of developing a central bank digital currency to the ICT. The project is yet to see the light of day, but Ndemo said that while they “are not very enthusiastic at the moment, of course it will come, but we first want people to understand use of tokens.”
Kenya is constantly seeking means to transform its economy with the blockchain technology, from land registries being placed on the blockchain to end land crisis to integrating blockchain into its voting system for a better election process.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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Tech giant IBM is seeking to patent a system that will utilize distributed ledger technology (DLT) to address security and privacy concerns following the increasing popularity and usage of drones—both commercially and recreationally.
IBM first applied for the patent in March 2017. According to the document published by the U.S. Patent and Trademark Office (USPTO), the patent application is for a blockchain ledger that could be utilized to store information about unmanned aerial vehicles (UAVs) flights. The goal, according to the patent application, is to ensure that airspace controllers, regulatory bodies and even UAV owners can check and supervise the rising number of drones in the sky.
The blocks will include data points related to drones flight patterns, including UAV location, manufacturer and model number, flying behavior, weather conditions, and even proximity to restricted zones.
According to the patent application, “The data may be managed as part of a secure chain of data blocks (e.g., in blockchain networks) associated with the UAV that chronicles a status path of the UAV through its recent and/or complete history. In this manner, the various characteristics and parameters of the UAV may be securely tracked using the secure chain of data blocks.”
In the proposed system, the permissioned blockchain could incorporate variable block time that can change in response to environmental triggers. For instance, in UAV no-fly or restricted fly zones—national parks, military bases, and a predetermined radius around a major airport, transactions are added to the blockchain associated with the UAV more frequently in response to a triggering event, such as when the risk level is high (e.g., flying near one of the no-fly or restricted fly zones). Additionally, a smart contract may be implemented to determine that a UAV operator is meeting agreements regarding operation of the UAV.
In contrast, drones that transport emergency medical supplies or perishable medication may be granted special permission to fly in restricted airspace without interference from the authorities. Regulators will be able to see from the blockchain data if a particular drone has the permission to fly over the area.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post IBM files patent for blockchain-based drone fleet security appeared first on Coingeek.
Tech giant IBM is seeking to patent a system that will utilize distributed ledger technology (DLT) to address security and privacy concerns following the increasing popularity and usage of drones—both commercially and recreationally.
IBM first applied for the patent in March 2017. According to the document published by the U.S. Patent and Trademark Office (USPTO), the patent application is for a blockchain ledger that could be utilized to store information about unmanned aerial vehicles (UAVs) flights. The goal, according to the patent application, is to ensure that airspace controllers, regulatory bodies and even UAV owners can check and supervise the rising number of drones in the sky.
The blocks will include data points related to drones flight patterns, including UAV location, manufacturer and model number, flying behavior, weather conditions, and even proximity to restricted zones.
According to the patent application, “The data may be managed as part of a secure chain of data blocks (e.g., in blockchain networks) associated with the UAV that chronicles a status path of the UAV through its recent and/or complete history. In this manner, the various characteristics and parameters of the UAV may be securely tracked using the secure chain of data blocks.”
In the proposed system, the permissioned blockchain could incorporate variable block time that can change in response to environmental triggers. For instance, in UAV no-fly or restricted fly zones—national parks, military bases, and a predetermined radius around a major airport, transactions are added to the blockchain associated with the UAV more frequently in response to a triggering event, such as when the risk level is high (e.g., flying near one of the no-fly or restricted fly zones). Additionally, a smart contract may be implemented to determine that a UAV operator is meeting agreements regarding operation of the UAV.
In contrast, drones that transport emergency medical supplies or perishable medication may be granted special permission to fly in restricted airspace without interference from the authorities. Regulators will be able to see from the blockchain data if a particular drone has the permission to fly over the area.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post IBM files patent for blockchain-based drone fleet security appeared first on Coingeek.
