Blockchain can prevent illegal nuclear trade?

Harvard College scientist believes that blockchain technology is a perfect way to control nuclear export
22 October 2017   935

As Aaron Arnold, A Harvard Kennedy School researcher and an associate of the Project on Managing the Atom, states in his writing "Blockchain: A new aid to nuclear export controls?" there is a huge problem of unclear sanctions towards international nuclear trade, export and supplies which can be resolved by blockchain. 

He presumes that blockchain technology of smart contracts can be very useful for audit and to create well-protected, international logistical orders regarding nuclear resources and to protect them from unauthorized access.

Coalitions, like the Nuclear Suppliers Group, should start thinking now about blockchain and its implications for supply-side controls. This includes developing a firm understanding of the relationships between public and private sector implementations of blockchain, and the consequences for controlling nuclear and dual-use goods and technologies.
 

Aaron Arnold

Researcher, Harvard Kennedy School 

In future, blockchain technology can become a perfect solution to the issue of falsification and a source of preventing fraud as there will be no difficulty to trace the source of nuclear supplies.

Facebook to Launch GlobalCoin in 2020, BCC Says

Facebook consults with representatives of the US Treasury Department and Bank of England  about regulating the initiative named Libra
24 May 2019   43

Operator of the world's largest social network Facebook Inc. will launch a new payment network based on its own cryptocurrency in the “dozen countries” in the first quarter of 2020, the BBC reports.

The publication claims that Facebook consults with representatives of the US Treasury Department and Bank of England Governor Mark Carney about regulating the initiative, code-named Libra.

At the same time, the Financial Times reported that Facebook is already in talks about listing GlobalCoin on the American exchanges Gemini and Coinbase. 

Sources of the publication said that Facebook is discussing with the trading firms Jump and DRW the prospects of market-making and liquidity.

Previously, the media claimed that the company is also in talks to support the initiative with Western Union, Visa and Mastercard.

Testing the network is supposedly scheduled for the third quarter of this year.

On May 2, Facebook registered Libra Networks in Geneva, Switzerland. Its profile involves the development of infrastructure and software, in particular, related to investment activities, payment transactions, financing, identity management, data analysis, Big Data, blockchain and other technologies.