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Monday, October 3, 2022

HBAR Set To Be Used By Standard Bank

Hey guys, welcome back to the Crypto Clan, today will be talking about amazing insights for Hedera hashgraph, which involves the likes of major corporations and organizations. A Reddit user going by the name of sokino12 posted a thread to the official hedera hashgraph Reddit page, detailing a number of huge organisations which have pending patents and have referenced hedera hashgraph by name in these patients. One of the users on the internet did some research on Google patents in 2020: I just searched hashgraph and went through the findings.

It looks like hashgraph is on the radar of some pretty big companies. Note A couple of the companies that have patents (pending), which referenced hashgraph are now on the council (Wipro, Deutsche Telekom). Anyways, none of this is to say that any of these big companies will become council members.

It’s just to say that large companies are aware of Hashgraph technology. Let’s have a look at these patents. If we look at the pending patent listed under hashgraph technology by JP Morgan. The pending patent listed by JP Morgan is entitled, System and method for distributed ledger-based software supply chain management.

The JP Morgan pending patent involves, Systems and methods for distributed ledger-based software supply chain management are disclosed. According to one embodiment, in an information processing apparatus comprising at least one computer processor, a method for distributed ledger-based software supply chain management may include

  1. Receiving, from a software tool, a metadata artifact for a software development lifecycle event;
  2. Writing the metadata artifact to a metadata store;
  3. Updating a present state database with values for metadata keys referencing the metadata artifact in the metadata store.

Barclays bank pending patent involves secure data communication. These images provide details in regards to what the pending patented technology will involve.

I will include a link to the Reddit post in the description below. The e-commerce companies including Alibaba, Amazon, and eBay also have pending patents and have included hedera hashgraph to these patents. Alibaba’s pending patent involves a System and method for detecting replay attacks. Amazon has patents for Digital certificates with distributed usage information and here are some of the images illustrating what the technology will involve. eBay listed patent includes Adaptive security for smart contracts using high granularity metrics.

With hedera hashgraphs rapid transaction processing potential and high throughput functionalities, the use of hashgraph technology to processing transactions, be it payment transactions or improvements in operating efficiencies, hashgraph technology would be extremely advantageous for the likes of Amazon and Alibaba.

The telecommunications companies Motorola and Samsung both have pending patents. Whereby, Motorola has a patent pending for Method to establish distributed ledger networks with multiple access levels for an incident. Samsungs pending patent involving hashgraph technology includes Machine learning on a blockchain, here are some images, detailing what the technology will involve.

Sony has also listed a patent detailing secure decentralized video game platform transactions using DAG technology. Hashgraph technology was mentioned in this patent. The potential for hederas hashgraph technology being implemented into Sonys projects is indicative of Hederas venture into the gaming industry, whereby according to Hederas website, it aims to implement its hashgraph technology to enable the decentralisation of the gaming infrastructure.

The potential implementation of hashgraph into the pending patented technology by the mentioned companies may lead to such companies potentially becoming members of hederas board of governance. Furthermore, the mainstream adoption of hashgraph technology will lead to greater demand for hbar tokens and as a result, the price of hbar tokens will increase, especially over the long run.

As well as the mention of hashgraph technology in the pending patents by these large companies. Hederas council member, Standard bank, which is Africas largest bank, is set to use HBAR tokens for a multitude of cases. HBAR is set to be used for Tokenized Bond Exchange on #Hedera, An @SBGroup stablecoin, Self-sovereign ID, Cross-border payments, Forex settlements, MIT partnership, and Tokenized commodities.

These use cases are huge for Hedera, especially the use of habr tokens for stablecoins. Stablecoins will see a high volume of money moving through a stable coin. Hbar tokens providing cross-border payments will be huge too, especially due to the size of standard banks, a lot of transactions will occur between the bank and banks abroad.

Read More: Hedera Hashgraph (HBAR) About To Be Listed On Coinbase!?

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