This Week in Blockfolio Signal — Factom, Origin Protocol, Cardano, Nexo, and ArcBlock Making Moves

Every week we comb through hundreds of Blockfolio Signals to bring you the most significant team updates with brief analyses to help you understand the latest developments in blockchain.

But first, in macro crypto news this week:

  • Bitcoin fell to a six-month low as China’s central bank launched a fresh crackdown on cryptocurrency ahead of launching its own digital currency.

  • The deputy secretary of the U.S. Treasury says private cryptocurrencies pose a threat to government power and will be watched.

  • Binance has entered India’s cryptocurrency market with the acquisition of the WazirX exchange.

  • The US SEC will take another look at the rejected Bitwise Bitcoin ETF.

  • The EU launched a €400M blockchain/AI fund to avoid lagging the US / China.

Top 5 Blockfolio Signals of the past week:

  • Factom Awarded Grant from DHS for Security System

  • Origin Protocol Launches Decentralized Alternative to Shopify

  • Cardano Foundation to Work with African Nations on Blockchain Governance and Economic Growth

  • Nexo Joins Foundation for Interwallet Operability (FIO)

  • ArcBlock to be Used for Leading Chinese Ride-Sharing Service GoFun


Factom Awarded Grant to Develop Fraud Detection System for DHS

“The DHS has awarded a grant to Factom to develop a security system that can help detect fraud involving imports, such as raw materials.

“Data-centric blockchains that can work with any type of data are useful in enterprise contexts such as those of U.S. Customs and Border Protection for understanding the origin of raw material imports.” — Anil John.”

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— Allie, admin

Summary

  • The U.S. Department of Homeland Security (DHS) has awarded a grant of $197,292 to enterprise blockchain firm Factom for developing a security system that can help detect fraud involving imports, such as raw materials.

  • Factom will develop a blockchain platform that will help manage certificates and licenses associated with tracking raw material imports through an open system ensuring the provenance of issued credentials.

  • This isn’t the first time Factom has been tapped to complete a project for DHS. During June of last year, they were granted $192,380 to build a system to secure data from Border Patrol cameras and sensors.

Significance

Factom is demonstrating the power of blockchain technology that is data agnostic and can function in enterprise-level environments. In this case, Factom will be helping to prevent fraudulent product imports into the United States, protecting both consumers and businesses in the process.

Price at the time of Blockfolio Signal: $2.92. View FCT on Blockfolio.


Origin Protocol Launches Decentralized Alternative to Shopify

“Check out Origin’s latest product: a 100% decentralized alternative to Shopify. It’s free and open-source. And since it runs entirely on Ethereum and IPFS it can’t be censored or shut down.”

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— Josh Fraser, Cofounder

Summary

  • Origin Protocol has launched the Origin e-commerce store, a free, decentralized, open-source alternative to Shopify, hosted entirely on IPFS with an ENS domain.

  • It is designed to address shortcomings of Shopify, such as high fees, lack of choice for payment processors and censorship of certain store types.

  • From the buyer’s perspective, the experience is the same and they can pay with ETH, ERC-20 tokens, OR a credit card.

  • The Origin e-commerce store has only 2 dependencies: an IPFS Gateway and an Ethereum node. Customer and order details are encrypted with PGP before being uploaded to IPFS.

Significance

Origin Protocol is utilizing blockchain technology to give merchants an alternative solution to Shopify. It is free, open-source, open data and places no restrictions on what the store can sell. This demonstrates the capability of blockchain technology to increase privacy, reduce costs and avoid censorship by centralized gatekeepers.

Price at the time of Blockfolio Signal: $N/A. View OGN on Blockfolio.


Cardano Foundation to Work with African Nations on Blockchain Governance

“Cardano Foundation to work with African nations to develop blockchain governance.

PORT LOUIS, MAURITIUS, 21 NOVEMBER 2019. The Cardano Foundation expands its reach to 54 countries on the African continent to build blockchain governance to future-proof the region’s sustainable growth and development. One of the world’s leading not-for-profit blockchain organizations helps law-making bodies and policymakers in Europe and Asia, and now in Africa, to shape legislation and commercial standards — in line with one of the Cardano Foundation’s missions..”

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— Bakyt Azimkanov, Global PR, Communications and Marketing Director

Summary

  • The Cardano Foundation has joined forces with the African Leadership College, Economic Development Board and the University of Mauritius, and the Embassy of Switzerland, Swiss Blockchain Federation, Crypto Valley Venture Capital, and Switzerland Global Enterprise to lay the groundwork to future-proof the blockchain industry in the island nation.

  • Mauritius, a Republic with an established regulatory framework for the custody of digital assets, is blazing a trail for other African nations to follow and is hosting the Building blockchain bridges roundtable.

  • The Cardano Foundation’s active involvement in the roundtable will further boost the Mauritian government’s efforts to cement its position as a fintech hub in Africa.

  • The Cardano Foundation already supports various initiatives that focus on blockchain governance, implementation, fintech conduct, smart contract frameworks, and education both in Africa and beyond and has active Cardano communities in Nigeria and Rwanda.

Significance

Blockchain is becoming an empowerment vehicle increasing the need to develop blockchain governance policies to spur economic growth and diversification. Cardano is helping African nations to shape legislative and commercial standards while ensuring accountability, which helps create new jobs and sustainable growth. Successfully proving this model in Africa could lead to additional governments around the globe adopting blockchain technology in their governance and economic plans.

Price at the time of Blockfolio Signal: $0.04. View ADA on Blockfolio.


Nexo Joins Foundation for Interwallet Operability

“We are thrilled to be the first crypto lending company to become a part of The Foundation for Interwallet Operability (FIO) & one of the key power players next to Binance‘s Trust Wallet in the effort to improve usability for the #Blockchain ecosystem.”

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— Antoni Trenchev, Managing Partner

Summary

  • FIO is working to create a standard decentralized service layer for the blockchain space which will process messaging, workflow and communications between the myriad of different wallets, exchanges, and platforms, thus simplifying the process of making blockchain transactions.

  • FIO’s platform is like an email domain. Instead of dealing with long complicated public addresses, individuals and firms can use a simple FIO address that works across multiple blockchain networks.

  • Nexo is the first crypto lending company to become a member of FIO, which is comprised of mostly wallets and exchanges, including the Binance Trust Wallet.

Significance

Usability is a major hurdle to mass adoption of cryptocurrency. Initiatives such as this will help push the ecosystem toward a clearer, safer, more efficient and usable blockchain network. The presence of Binance’s Trust Wallet as a part of FIO should help to attract more players in this collaborative effort to improve usability for the blockchain ecosystem. The adoption of cryptocurrency and blockchain solutions should increase as usability improves.

Price at the time of Blockfolio Signal: $0.09 View NEXO on Blockfolio.


ArcBlock to be Used for Leading Chinese Ride-Sharing Service GoFun

“ArcBlock has announced a new partnership with leading ride-sharing service GoFun to use ArcBlock’s blockchain platfor.”

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— Matt McKinney, Director of Marketing

Summary

  • ArcBlock announced a new partnership with ride-sharing service GoFun to use its blockchain to develop new blockchain services and DApps.

  • ArcBlock enables companies to quickly integrate blockchain technologies and deliver a user experience that helps maximize their ROI.

  • GoFun will leverage ArcBlock’s SDK, Blockchain developer tools and CLI, decentralized identity, and multi-chain network to support massive scalability and the ability to handle diverse workloads and digital assets across diverse, interconnected blockchain networks.

  • GoFun is building a new platform that will improve financial risk controls and credit deposits.

  • ArcBlock will help GoFun create a new Internet of Vehicles that connects people, data, vehicles, and services together into a single platform that empowers both the users and service providers in a secure way.

Significance

ArcBlock is helping to demonstrate another excellent use case for blockchain technology. ArcBlock is well-positioned to support the automotive industry and this partnership with GoFun could prove their value to others in the sector. The implementation of blockchain technology can make ride-sharing safer, less expensive and more efficient, potentially leading to a fully decentralized ride-sharing platform at some point in the future.

Price at the time of Blockfolio Signal: $0.19. View ABT on Blockfolio.


Quote of the Week:

“Bitcoin will do to banks what email did to the postal industry.”

— Rick Falkvinge, Founder of Swedish Pirate Party

Thanks for joining us and we look forward to bringing you our top Blockfolio Signals again next week.

Jason Hamlin

Ecosystem Insights & Development @ Blockfolio

Blockfolio Signal is a first-of-its-kind communications platform built exclusively for token teams to connect and engage with their communities. Over 400 token team CEOs and team leaders actively use the platform to provide relevant project updates directly to Blockfolio’s 5 million+ users. Learn more at www.blockfolio.com/signal.

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