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IBM Partners with Seagate to End Fake Hard Drive Trading with Blockchain

  • Yuri Molchan
    📰 News

    Seagate to use IBM’s Blockchain and IBM Cloud for tracing counterfeit hard drives, preventing reverse counterfeit supply and securing the industry in general


IBM Partners with Seagate to End Fake Hard Drive Trading with Blockchain
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The Seagate data storage giant, that has made almost $12 mln of revenue in 2018, intends to use the Blockchain Platform of IBM to prevent the distribution of fake hard drives instead of their high-quality product.

The trouble is getting serious

The problem has been getting a big scale recently since fake drives are getting to sell on giant retail platforms like eBay. Besides, the danger is that deceived buyers can send the fake they had bought — back to Seagate for a refund.


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Apart from that, Seagate reportedly wants to secure the whole market, helping other producers and intermediaries to authenticate the quality of hard drives.

The suggested solution

IBM and Seagate are planning to upload the authentication data of all hard drives that have been already made and are currently being produced onto the IBM Blockchain Solution on the IBM Cloud.

To do so, Seagate wants to utilize its Seagate Secure Electronic ID (also known as eID). It creates a unique identifier while the product is being made. Later on, this will allow verifying the identity of a hard drive in question at any point of time and in any location.

Seagate also intends to engage its feature called “Certified Erase.”

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More participators

Another member of this ‘anti-pirate’ alliance of the titans is the DLT network powered by Hyperledger that IBM’s Blockchain Platform is based on. The former can enable outside parties to upload or even adjust DLT data on the platform depending on the level of access they have.

This multiple-stage project will allegedly diminish the data loss and verify product authentication data for customers and will be able to bring down warranty expenses caused by counterfeit goods.

IBM expands its engagement with Blockchain

The company keeps working on developing more Blockchain-based solutions. Last week, IBM submitted a patent for creating a DLT-based system for preventing players of augmented reality games from bumping into prohibited locations to help to keep AR objects and locations of the real world safely separated.

Cover image via u.today
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Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak

  • Alex Morris
    📰 News

    Binance Coin is so far the second cryptocurrency (after EOS) that managed to rebound after January 2018's drawdown


Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak
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After surging by more than 14 percent over the last 24 hours, Binance Coin has managed to surpass its previous ATH that was recorded during the peak of the bull market in January 2018, according to the data provided by CoinMarketCap (CMC). The historic rally was triggered by numerous recent developments inside the exchange’s ecosystem.  

Binance Coin, CoinMarketCap
Binance Coin continues to register double-digit gains, image by CoinMarketCap

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BNB makes history

At the time of writing this article, the price of the BNB token is at $24.65, rising above its previous ATH of $24.46 that was recorded on Jan. 12. Hence, Binance Coin, the seventh largest cryptocurrency by market capitalization, becomes only the second asset to reach a new price peak after the crash of the speculation-driven bull market. EOS, which is sitting one spot above BNB on CMC, achieved a similar feat in May 2018.

‘Binance Coin is outpacing the overall crypto market. While Bitcoin is off 75% from its all-time-high, Binance Coin has recovered. There is fundamental growth and synergy taking place that is contributing to the rising price of Binance Coin,’ says BitBull Capital CEO Joe DiPasquale.

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Pumping other coins

On Apr. 18, Binance launched the mainnet of its custom Blockchain Binance Chain. The migration of BNB tokens from Ethereum to Binance Chain is scheduled to take place on Apr. 23. This is going to be the second largest token swap in history.

Binance, which is now completed with Ethereum, has already on-boarded some Blockchain projects, including Mithril (MITH) that experienced a 70 percent price pump after its launch on Binance Chain.

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