Blockchain Report — 8/30/2018
By: Christopher Durr
Tags: Cryptocurrency, Bitcoin, Blockchain, Investing, News

Summary: Andreessen Horowitz Invests In Blockchain Start-up Building A “World Computer”; Italian Football Club Becomes First To Be Purchased In Cryptocurrency; Chinese County Makes Blockchain Company To Develop Forestry Industry

Andreessen Horowitz Invests In Blockchain Start-up Building A “World Computer”

According to CNBC, a blockchain start-up that is referring to itself as the “world computer” has raised $102 million in funding from Andreessen Horowitz and crypto hedge fund Polychain Capital.

The startup is Dfinity, whihc is trying to build a decentralized cloud computing network that is attempting to disrupt the cloud services industry.

Some people believe that Dfinity might be able to one day rival Amazon Web Services in its capabilities. Andreessen Horowitz partner Chris Dixon believes that Dfinity, while it is still in its early stages, has the potential to one day disrupt the cloud industry. He believes that Dfinity can solve the issue of scalability within blockchain technology.

Other big investors in Dfinity are SV Angel, Village Global and Aspect Ventures.

Italian Football Club Becomes First To Be Purchased In Cryptocurrency

According to Forbes, Italian Serie C football club Rimini FC 1912 has become the first ever team in history to be purchased with cryptocurrency. Quantocoin, a company that uses blockchain technology to provide an cryptocurrency payment method for investors, now owns 25% of the side.

Pablo Dana, a partner at Quantocoin, said the purchase will be the first of many that his firm wants to make in the industry. He thinks that cryptocurrency can offer a way to fight corruption in football. Football has had a number of scandals, including Qatar allegedly buying votes to win the right to host the World Cup in 2022.

Quantocoin’s payment system logs every instance when a payment is made through a system of autonomous, incorruptible and constantly updating nodes. As a result, money paid between football officials, players and agents can always be monitored which decreases the chances of corruption within the sport. Dana said:

“We are working exactly on the ideas that UEFA want to put into place…This is transparency in football and we are looking to reduce corruption through our Quantocoin platform.”

Chinese County Makes Blockchain Company To Develop Forestry Industry

According to Cointelegraph, a county in China’s northern Sichuan province signed a strategic cooperation contract to create a new blockchain company in order to develop the local forestry industry. The Beichuan Qiang Autonomous County of Sichuan Province and Beijing Sinfotek Group jointly established the new company, Hangzhou Yi Shu Blockchain Technology Co., Ltd for “forestry economic development and industrial poverty alleviation.”

The company is one of 19 blockchain companies to have passed the first batch of 700 projects in the Hangzhou Blockchain Industrial Park. The company aims to apply blockchain technology to farming and agriculture industries:

“[The company’s strategy] will be closely integrated with the national development strategy, and [will] fully promote the application of blockchain technology to realize the parallel development of enterprise value and forestry industry.”

ICO Watchdog™ is the most popular chatbot assistant for ICO investors and cryptocurrency traders now available for FREE on Telegram, Messenger, Discord and Slack. Sign up today at http://icowatchdog.com.

Do you want daily blockchain and cryptocurrency news delivered directly to your inbox or feed? Sign up today for the Blockchain Report by ICO Watchdog™ at http://bit.ly/2KYOpxJ or follow us onTelegram,Twitter, Facebook and Instagram.