Today’s Crypto Minute includes: IBM explores new use cases for permissioned blockchains, Korean M&A center launches service to protect ICO investors, and CoinList creates a cheap and compliant airdrop model.
IBM Introduces a Blockchain to Verify the Jewelry Supply Chain
According to techcrunch, IBM is working on a permissioned blockchain called TrustChain, a solution to bring more transparency to the jewelry market. TrustChain will help track the movement of precious metals from the source all the way to the end consumer. This is a viable use case for distributed ledger tech because now participants can trust that jewelry documentation hasn’t been forged to circumvent the system. This implementation should go a long way in removing fraud and allow consumers to be sure their jewelry is not the product of exploited labor or environmentally damaging behavior.
Korea M&A Center Launches ESC LOCK Service to Protect ICO Investors
Along with fraudulent jewelers, ICO scammers may not have a leg to stand on in the near future — thanks to the ability of smart contracts to hold funds in escrow. Similar to Vitalik’s DAICO model, ESC LOCK is designed to release investor funds to ICOs only if certain conditions are met. For example, one condition is that the ICO must be listed on an exchange 6 months after the funds are raised. If the ICO fails to meet these conditions, the investors will receive a refund.
CoinList Adds Compliant Airdrops to their Growing Portfolio of ICO Services
According to crowdfundinsider, CoinList has created a new way for ICOs to issue airdrops that accounts for securities regulation risk. This service alleviates the ICOs of SEC regulatory responsibility and allows them a cheap and easy way to issue an airdrop to its community. This is yet another example of a service that decreases risk and increases trust and transparency in the ICO community, which will help the market mature in the long run.