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Blockchain Technology Could Unblock Southeast Asia

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Hard disks are pictured inside a server room at a company in Bangkok, Thailand.
Hard disks are pictured inside a server room at a company in Bangkok, Thailand. VOA

Imagine you could swipe your phone over a piece of fish in the supermarket and instantly see secure records of its entire path through the supply chain, from the technique used by the fisherman who caught it in Indonesia to when it was shipped and how it was processed at a factory in your home country — all at the tap of a smartphone.

Trial projects such as that one are testing the potential of Blockchain technology to bring transparency to all sorts of notoriously inefficient or shadowy industries in Southeast Asia.

Blockchain, the technology that powers bitcoin, is an essentially unchangeable form of bookkeeping. It creates cryptographically chained signatures between blocks of information that are authenticated by users over a peer-to-peer distributed ledger — a public record that can be applied to any type of bookkeeping, not just cryptocurrencies.

“It removes the requirement for a centralized authority, and in a lot of the products that it’s being launched in, this centralized authority tends to be the government,” said Alisa DiCaprio, head of research at R3 — an enterprise banking software firm that uses distributed ledger technology.

In a region where the most important records — identity and ownership for instance — are often subjected to little or no external oversight, blockchain offers enormous potential benefits.

Erin Murphy, Founder and Principal of Inle Advisory Group, a Myanmar and emerging business advisory firm, said major Asian business hubs are looking to blockchain to clean up and simplify transactions.

“Ideally, we would want to see the adoption of blockchain at an official level all across the region,” she said in an email. “But perhaps not surprisingly, the governments that are leading blockchain adoption are those that are already low-corruption.”

One of those governments, she said, is Singapore, which is working with major banks on a blockchain-based system to streamline and qualitatively improve their customer (KYC) processes.

In other countries, it is being used for completely different purposes. In the Philippines, a remittance market worth billions of dollars per month has been invaded by firms offering cheaper services built on the blockchain, which people can access without a bank account.

“Any steps that get taken at first may not be viewed through an anti-corruption lens and may inadvertently tackle that issue; it will likely be viewed through a development lens to kickstart poverty alleviation and bringing sectors up to international standards that attract foreign investment,” Murphy said.(VOA)

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NASA Planning to Use Blockchain Technology For Air Traffic Management

The prototype demonstrates how this method can be economically and rapidly deployed in a scalable modular environment, Reisman said

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Kepler, NASA, tissue
NASA to use Blockchain technology for air traffic management. Pixabay

US space agency NASA is planning to advance its technology by adding Blockchain to secure air traffic services and support, the media reported.

The agency will work with an open source Blockchain platform called “Hyperledger Fabric” that is specifically designed for enterprise transactions that resemble typical air traffic management interactions, Ronald J. Reisman, an aero-computer engineer at the NASA Ames Research Centre, said in a statement.

Blockchain would address the potential issues of privacy, prevent spoofing, denial of service and other attacks, Reisman said.

He asserted that Blockchain presents an engineering prototype that embodies a design and method that may be applied to mitigate security issues.

NASA, Hubble, Keplar, asteroids
Blockchain would address the potential issues of privacy, prevent spoofing, denial of service and other attacks, Reisman said. Flickr

“The design innovation is the use of an open source permissioned Blockchain framework to enable aircraft privacy and anonymity while providing a secure and efficient method for communication with air traffic services, operations support, or other authorised entities,” he noted.

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The new framework also features certificate authority, smart contract support, and higher-bandwidth communication channels for private information that may be used for secure communication between any specific aircraft and any particular authorised member.

The prototype demonstrates how this method can be economically and rapidly deployed in a scalable modular environment, Reisman said. (IANS)