Baidu to Unveil Blockchain Stock Photo Platform

Distributed ledger technology is used by search giant to assign a timestamp to each original photo and store related data in a distributed network
12 April 2018   547

The search engine developer Baidu launched a stock photo bank on the blockcahin, which is designed to protect the rights to intellectual property in China. This is reported by CoinDesk.

A service called Totem was launched this Wednesday. It uses a blockchain to assign a timestamp to each original photo and store related data in a distributed network.

Baidu has significant achievements in the field of data analysis and artificial intelligence, which it intends to use when comparing images from the Internet with data stored in its blockchain.

To date, several photo banks have started using a new service, including Visual China Group - local partner of Getty Images.

Whether Baidu uses a public or private blockchain is unknown.

New project was launched few months after Baidu released CryptoKitties knock-off dubbed Laici Go and own blockchain-as-a-service platform in January.

This isn't the first time when blockchain technology is used to protect intellectual property of digital media assets.

Brazilian Central Bank to Issue Stablecoin

According to participants of the project, the issue of the BNDES coin will help restore public confidence in Brazilian state banks
17 December 2018   68

The state-owned Brazilian National Social Development Bank intends to issue a cryptocurrency token tied to the Brazilian real. It is reported by CoinDesk.

The pilot project for the production of a token BNDES based on Ethereum will start in January next year. At first, the coin will be used to finance cultural institutions. In particular, the bank will allocate a certain number of new tokens to the local cinema agency.

As the newspaper notes, the bank conducted experiments with steyblecoin throughout 2018. The consultant of the project for the release of a new “stable coin” will be the well-known Ethereum start-up ConsenSys.

According to representatives of the bank, the issue of the BNDES coin will help restore public confidence in Brazilian state banks, which are often criticized due to corruption scandals.

Also, the bank is confident that in the future, stablecoin can be used to finance organizations and projects from various fields.

Note that recently in Brazil there has been a trend towards liberalization of the regulation of cryptoindustry. For example, in October, the Brazilian Securities Commission allowed local investment companies to invest in a cryptocurrency ecosystem through the acquisition of derivatives and shares in foreign funds. It is noteworthy that at the beginning of the year the same financial regulator announced the prohibition of both direct investment in cryptocurrency and indirect investment through intermediaries in the person of foreign companies.