The central bank is budgeting nearly $255,000 to develop a central bank digital currency sample wallet that could execute basic features such as transactions and payment requests.
Sometimes, it is important to show feasibility of a project before it is fully realized. The process for this is called a Proof-of-Concept, meaning an attempt to illustrate the practical potential of a concept or a theory. A Proof-of-Concept prototype is mostly a small — but sufficient — executed part of the full project. In science, Proof-of-Concept studies are small-scale studies designed to find preliminary evidence of some idea to gain financing for widening the research process. The Proof-of-Concept practice has been widely adopted by the filmmaking industry, engineering and security companies, software development, drug development and other fields of work. Sometimes the term “Proof-of-Principle” is used as a Proof-of-Concept synonym. However, the usage of this term comes from drug development studies where different meanings are attributed to both terms and varies from author to author.
NFTs can be fixed-priced or sold during an auction. However, creators should consistently sell to demonstrate a proof-of-concept to boost the NFT’s floor price.17323
A platform that enables the creation of verifiable credentials on the blockchain expects its new mobile wallet to play a bigger role than merely sending and storing utility tokens.2319
Sri Lanka’s recent economic uncertainty seems to be the driving force behind its interest in cryptocurrency and the government's new exploration into KYC technology.9781
After an earlier attempt, China Construction Bank has gone back to the drawing board with new partners and a new proof-of-concept for a blockchain-based bond.12593
Why do enterprise blockchain implementations fail, and what can enterprises do to increase their chances of success?17971
The Oil & Gas Blockchain Consortium successfully piloted a blockchain-based system for Authorization for Expenditure.4349
Deutsche Boerse and Swiss state-run telecom Swisscom have settled securities transactions using different blockchain protocols.4165
A branch of U.S. Customs and Border Protection will test blockchain-based shipping for licensed shipping partners.3976
A shipping container is reportedly the first to enter the Netherlands having been tracked from South Korean entirely by blockchain.8211
ZenGo reportedly shows that its keyless wallet solution can support Facebook’s announced virtual currency Libra via testnet demonstrations.4129
The Rhode Island government is seeking proposals from qualified firms on blockchain solutions that improve efficiency, transparency, accuracy and security in the state.5602
Talking with the director of ecosystem at Hyperledger on blockchain adoption, community stereotypes and the power of education.3938
The Australian Transaction Reports and Analysis Centre is trialing a blockchain prototype for the automation of international funds transfer instructions.4111
The major Japanese investment bank has published the results of a pilot project, aimed at implementing blockchain tech for securities post-trade processing.5603