DoD on the Block: Update 1

About a year ago, I wrote about the Department of Defense's "DoD Digital Modernization Strategy" report and the agency's plan to explore how blockchain can make messaging more secure. Well, a contract was recently awarded to SIMBA Chain to develop a blockchain solution to improve the security, auditability and integration of the agency's research and development data. Specifically, SIMBA Chain has been given an opportunity to test out a blockchain that will enable various agencies to securely share R&D information with the ability to control and track access. With the DoD touching much of the R&D that is funded by federal government, there is a plenty of opportunity for bad actors. Blockchain will hopefully show that it's an effective way to limit and track access to sensitive information. Stay tuned!

Do you think blockchain will save the R&D day? Let me know what you think by shooting me an email at info@blockchainblawg.com or tweeting me at @blockchainblawg.

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Before You Mint Your NFT

With NFT season taking a bit of a breather (kinda), I thought this would be the perfect time to lay out a few things to consider before minting an NFT. If you missed the frenzy, well, welcome. "NFT" stands for non-fungible token and these digital tokens represent real world ownership and provenance of a particular asset. NFTs are minted (i.e., produced), stored and transacted (bought/sold/traded) on a distributed ledger like blockchain. Some NFTs represent ownership of tangible assets and some NFTs are digital/virtual assets (yes, a digital piece of art was purchased for $69M). "Non-fungibility" is a scary word but it essentially means that the asset is unique, cannot be interchanged with another asset, and cannot be replicated. Think of NFTs as either collectibles, like artwork and trading cards, or title to tangible/real property, like real estate and cars. So with all the excitement having simmered down a bit, below are a few things to think about before you ...

The Rundown on CBDCs

Everyday there is a news report about a country that is "exploring" or "studying" the possibility of developing a central bank digital currency (CBDC). In the past few days, I've read articles about Rwanda, Israel and France looking to pilot programs with CBDCs. And yesterday, the Bank of International Settlements announced its backing of the development of CBDCs. With approximately 80% of central banks around the world taking a closer look at CBDCs, now is as good a time as any to learn more about them. What Are They? A central bank digital currency is exactly what it sounds like--a digital currency issued by a central bank. In the same way our central bank, the Federal Reserve, issues the U.S. dollar, it would similarly issue some official U.S. digital currency ('digital dollar'). This is pretty much where the simplicity of it all ends. Things get really hairy (really fast) when central banks have to figure out how CBDCs fit into a traditional financ...

New home. Who dis?

This post will be short and not blockchain-related. I recently moved my blog to a new platform so I'm still working out the kinks on the aesthetic aspects. Thanks for your patience!

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