Whiskey Counterfeiting, Budget Transparency, and Other Blockchain Initiatives
Blockchain technology remains one of the hottest trends among financial, government and business organizations around the world. ForkLog provides an overview of the most interesting recent initiatives.
Brazil Integrates Blockchain to Improve Budget Transparency
The Brazilian government is developing a blockchain-based platform to increase transparency in the movement of budget funds. This was reported by Portal do Bitcoin.
Head of Blockchain Initiatives at the Development Bank of Brazil, Gladstone Arantes, said Blockchain’s Rede Brasil developers have chosen a system with the Hyperledger Besu 2.0 consensus protocol as the base platform.
The project network will use a proof-of-authority consensus system. The authorities intend to transfer all public expenditure to Blockchain’s Rede Brasil.
A whiskey producer will set up a blockchain to fight against counterfeiting
Scotch whiskey producer The Whiskey Barrel will integrate blockchain to confirm the authenticity of the Glen Moray single malt liquor limited collection. Decanter reports it.
The mintage is represented by 152 bottles priced at 350 pounds (over $460 at the exchange rate at the time of writing). Part of the collection is presented in the form of NFTs, which will act as digital certificates on the Solana blockchain.
Each bottle of whiskey was given a unique QR code to access information from a public registry to reduce the risk of buying a fake. The company’s customers will also receive data on supply chains and production conditions.
Unilever integrates blockchain to track palm oil supplies
Unilever Corporation, a global leader in the food and household chemical markets, together with enterprise software developer SAP, presented a GreenToken blockchain pilot project.
The initiative aims to track supply chains, production conditions and product composition in real time. The concept has already been successfully tested in Indonesia.
By scanning the QR code on the packaging, companies and consumers will be able to know the percentage of palm oil in the product and verify its ecological origin.
Chinese courts are beginning to accept blockchain-based evidence
Courts in China’s Inner Mongolia and Sichuan provinces have allowed the use of blockchain-based evidence.
Among the earliest precedents is the official inclusion of a blockchain-based contract as evidence in a case in a dispute over a loan deal in Inner Mongolia.
A court in Sichuan has upheld a complaint in a case where a piece of music was stolen and used for commercial purposes. Evidence on the blockchain was used as evidence.
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