Boeing uses blockchain to sell airplane parts

BaFin closes Bitcoin ATMs in Germany. The Federal Financial Supervisory Authority (BaFin) in Germany has started to close unauthorized Bitcoin ATMs in the country. The activity with cryptocurrencies is more recently regulated in accordance with the German Banking Law. Under this law, ATM operators must be licensed by BaFin.

One of the companies that has received an order to close ATM transactions is KKT UG, which operates the shitcoins.com site. According to its website, the company operates ATMs in the UK, Poland, Italy, Romania, France, Spain and the Netherlands. It also offers the option of buying and selling cryptocurrencies on the site.

Following the BaFin order, the crypto ATM locations of the German company listed on the Coinatmradar website display a warning:

“This bitcoin ATM does not work temporarily (as of March 4, 2020). Due to the BaFin decision we are obliged to close the ATMs for now. We will be back with our services as soon as possible. ”

A decision by a French court provokes speculation about the nature of Bitcoin

A court in Nanterre issued a ruling stating that Bitcoin is a tangible asset, similar to fiat currencies. Later, the French press speculated that this comparison paved the way for Bitcoin to be considered legal tender.

“BTCs are fungible because they are of the same type and quality, which means that all BTCs come from the same computerized protocol and are subject to an equivalence relationship with other BTCs. This allows a payment to be made in accordance with the old article 1291 of the Civil Code, now article 1347-1 of the same code ”.

Speculations have been linked to the fact that the judges considered bitcoin a “tangible asset”, similar to fiat currencies. The reality is that many other assets are fungible, such as gold or oil, so this comparison doesn’t really seem enough to say that the Nanterre court compared Bitcoin to the euro.

The RFID lab claims that blockckhain could help companies such as Nike and Macys

Auburn University’s RFID lab has published a study claiming that blockchain technology could help clothing brands. The study proposed a system based on Hyperledger called “Chain Integration Project” (CHIP), to help manage the supply and distribution chains.

The project proposed by the laboratory tried to standardize the data included in the radio frequency identification (RFID) tags installed in each unit. Later, this data was integrated into the Hyperledger Fabric blockchain.

Over 220,000 products from Nike, PVH, Kohl and Macys were registered in the test system.

“The system as it is now can process the necessary data, but in the long term we are talking about billions of products. They must pass through the supply chain and be distributed with these RFID tags. There has to be a much more robust system to cope with such an amount ”,

was the conclusion of the study.

Boeing uses blockchain to sell $ 1 billion worth of aircraft parts

The multinational aeronautical conglomerate Boeing uses blockchain in the sale of aircraft parts. These are products worth more than $ 1 billion to be sold on the GoDirect Trade platform.

The partnership was unveiled at the Hyperledger Global Forum 2020 in Arizona. Lisa Butters, general manager of Honeywell, said the pieces were uploaded to the GoDirect Trade market last weekend.

Aircraft parts are usually sold four times before being decommissioned, underlining the benefits of distributed technology to be able to certify their authenticity. Honeywell’s GoDirect platform includes a customized version of the open-source Hyperledger Fabric, launched less than two years ago. Currently, there are approximately 6,500 registered GoDirect users representing 2,400 companies.