In a recent post, the New South Wales government announced that they will use blockchain technology to support digital drivers licensing for its people. The blockchain based company Secure Logic was devoted to helping the NSW government to ensure security through the new platform.
Secure Logic had formally announced the launch of its “TrustGrid” platform, it is an advanced blockchain solution that delivers a secure, decentralized and immutable ledger of transactions. TrustGrid is one of the key architectural components of the electronic vehicle licensing and is expected to be used by individuals by the end of 2019. This will allow more than 140,000 license holders in the region to stop using plastic identification card, instead, use a smartphone-rendered copy which will be available on the New South Wales Service app.
CEO of SecureLogic stated:
“The era of standing in line to file government paperwork is coming to an end, as is our reliance on physical identification cards to establish your identity or proof of age with law enforcement or at licensed venues. These are mistake prone, time-consuming, expensive, and impractical ways to offer services”
The company further stated that the NSW digital driver’s license pilot staged in Dubbo was successfully launched and around 1400 motorists had opted for the digital driver’s license. This has opened new opportunities for the second pilot which will be staged in the suburbs of eastern Sydney.
Santosh Devaraj further stated:
Rather than a black and white method of opting ‘in or out’, TrustGrid could enable each individual to set the terms of their own digitised contract that governs exactly what personal information is disclosed through fine-grained consent and encryption policies
He further added that driver’s licenses are the tip of the iceberg when it comes to the transformation of the public service and he expects new technologies to change the way people would interact with the government. His main agenda was to stop fraudsters who could create fake identities with relative ease. The cryptographic mechanism was one of the best ways to overcome such problems.
It was further stated that the implementation of blockchain in digital driver’s license will prevent forgery and will also help to streamline various government services to the public, it is also expected to address privacy concerns as drivers are only required to show their digital license to the police.
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Bitcoin SV surges by 6.84% in an hour; community speculates massive behind-the-scenes pump
The cryptocurrency market has witnessed major price hikes over the past few weeks, with Craig Wright’s Bitcoin SV emerging as the market’s unlikely performer. The Craig Wright-backed virtual asset, which is supposed to follow Satoshi Nakamoto’s original idea, outperformed every top 10 cryptocurrency over the past week, recording a growth rate of 22.86%.
At press time, the coin had recorded a price hike of 6.84% over the hour, with the coin valued at $228. The coin was traded the highest on CoinBene exchange, where the trading pair of BCHSV/USDT gathered a volume of $96 million. The exchange was closely followed by ZBG exchange, where the trade accounted for 13.62% of the entire trading volume.
According to the chart released by Trading View, a massive green candlestick can be observed. The chart also indicated that at press time, the candles were charting over the Moving Average [MA]. This suggested that extremely high trading volumes were pegged with Bitcoin SV.
Many in the community have speculated that the surge might be due to a massive dump of the coin in the market, after the token hit stagnation since pumping by more than 247 percent recently. The aforementioned price pump pushed the price of the coin from $53.22 to $250.
Previously, it has been suggested that the major pump witnessed within the Bitcoin SV ecosystem might be laden with market manipulation, implying the participation of illicit entities in the conduct of a “pseudo-pump” of BSV’s market. Further, the de-listing of BSV by major exchanges such as Binance may have made it more susceptible to sudden price movements, according to some.
At press time, Bitcoin SV was positioned 8th on the cryptocurrency charts. Despite the pump however, historical trends suggest a major price correction may be in the offing too.
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