Ethereum (ETH) has essentially held steady in February. The market cap now stands at US$89.55 billion, with US$1.58 billion traded on exchange over the past 24 hours. While daily traded volume is down sharply from late December and early January, the Ethereum platform continues to be adopted by an array of startups and is now being used at-large, reducing traditional banking friction, increasing payment speed, and removing intermediaries.
The World Food Programme, a United Nation organization that feeds as many as 100 million people across 80 countries, expects to cut millions of dollars in bank transfer fees by switching to a system using the Ethereum network, according to Bloomberg. “We felt we could replace the services offered by banks with blockchain,” said Robert Opp, who manages innovations that help the organization better spend its annual $6 billion budget.
“Blockchain helps promote collaboration by providing enormous amounts of data.” Consensys and Amalto Technologies recently announced a joint venture, Ondiflo, a company which will also be using the Ethereum blockchain. Amalto Technologies provides innovative enterprise-level solutions enabling B2B integration and electronic document exchange services to various markets including the Oil & Gas industry.
The Houston, Texas-based company would assist with supply chain management through “improved scheduling and dispatching, accurate measurement of discharged fluid volume, precise invoicing, significantly reduced revenue leakage, and zero to very few coding errors”. The service also promises to greatly reduce cash-flow problems by decreasing time to payment.
Joseph Lubin, Founder of ConsenSys and co-founder of Ethereum, previously discussed the future goals and openness of Ethereum in an AMA on January 4th. The discussion was heavily focused on scalability, remaining decentralized, and fostering a community of development through relationships and hackathons. Read more from bravenewcoin.com…
thumbnail courtesy of bravenewcoin.com