4 News From This Week You Should Know (3 to 9 August)

It has been a while but let's restart this news format. The crypto market has been really active during recent times just like the news gravitating around. Indeed, today we are going to talk about Coca Cola & blockchain, cyber attack, the end of a token, and an innovative concept. Enough talking let's just dive into it.

1. Coca Cola will use the ETH blockchain for its supply chain :

If you pay attention to partnerships in the crypto world you know that Coca Cola is more and more interested by the blockchain technology, indeed since the beginning of the year Coca increased its crypto development activities. After the idea of Coca machines with crypto as payment method, Coca decided to use the Ethereum blockchain, this collaboration include two blockchain companies, Provide and Unibright and as a result will use Baseline Protocol, it's a solution allowing companies access to the Ethereum public network.

The objective of this collaboration is to create a "bottling port for Coca-Cola" and open its blockchain to its suppliers. This all collaboration will start in late 2020. Overall I think it is a good news, it is always beneficial for the image of the cryptosphere when major companies like Coca Cola, FaceBook, VISA and more decide to collaborate with crypto-related organisms. Let's just hope there will be more in the future.

2. Ethereum Classic suffered another 51 attack :

Basically we talk about a 51% attack when one person tries to control more than half the computing power of a network. It isn't the first time that such a thing happened to Ethereum Classic, however this time over 3 600 blocks have been mined but this attack appears to be not "malicious", the majority of these blocks contain any transactions. 

Even if this attack wasn't aiming to do damage it reveals another major flaw in the Ethereum Classic blockchain, if it isn't the first time for ETH Classic these attacks also concerns other blockchains. Despite the progress we made in cybersecurity regarding cryptocurrency it seems that the number of these attacks are increasing, major solutions need to be find for a more stable future.

3. CRYPTO.COM announced the end of its token :

It's official the MCO token will be forsaken in favour of the CRO token. Crypto.com thinks that CRO has better days ahead than MCO and as a result decided to fully focus on CRO, the current owners of the MCO token have until November 2 to "get rid of their assets" but with a 20% bonus. The MCO token doesn't disappear and will still exist on the ETH blockchain.

Overall it is a good news for both tokens, MCO's value spiked 40% after the announcement and will continue to exist on Ethereum blockchain and CRO will benefit from the situation of abandonment of MCO.

4. Wine on a blockchain, a new concept :

Not a major news but a pretty interesting one, Chinese winemakers decided to create a blockchain in order to maintain traceability of the wine in collaboration with the huge company Tencent. Indeed there are many underground industries who tarnish the reputation of certain wines, traceability is the key in order to fight against this problem.

The Tencent blockchain will be use at every steps of production of a bottle of wine (production, distribution, sells, ...), a single traceability certificate, which is registered on a blockchain. The company’s bottles will have scannable QR codes that consumers can use to check the authenticity of the wine they are buying. I think this idea is interesting and shows that the blockchain technology can be use for many purposes, offering guarantees and security, I hope there will be more projects like that in the future.