Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books. However, many in the crypto community question Binance’s approach, and aren’t fully convinced that they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings. The company’s initial audit…
Tag: Commercial Use
Nonghyup, a South-Korean Bank to Introduce a Blockchain-Based Mobile Identification System
Recently, Nonghyup announced the launch of the first commercial application of a blockchain-powered mobile identification system. The report states that the Initial DID Alliance developed the solution. The Initial DID Alliance is a decentralized identity consortium hosted by the Korean Ministry of Science and ICT and the Korea Internet and Security Agency (KISA). Tech giants such as Samsung, LG, and SK Telecom would back the identification system. Other consortium members include Hyundai Card, Woori Bank, Cj Olive Networks, and Koscom,…
3 years ago 
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