Largest Palladium Miner Integrated Blockchain Technology


The world’s largest palladium miner Norilsk Nickel (Nornickel) has integrated the blockchain technology into their company processes reported on 22 June 2019.

According to the report, The palladium miner company partnerships with the Hyperledger project as well as with some other big companies like Microsoft, Salesforce, Gloscad, and Milligan Partners.

This is the open-source project which is hosted by the Linux Foundation that helps them in the development of blockchain technologies for the different types of industries.

Currently, Nornickel exploring the Byzantine Fault Tolerance (BFT) in order to develop the distributed ledger technology for their blockchain project.

Nowadays, BFT consensus algorithm is seemed to be the fastest and the most efficient algorithm as compared to the other public blockchains and it allows people to create the public blockchains based on Hyperledger Fabric

” Hyperledger is our core technology, By joining Hyperledger, we plan to share our expertise and knowledge to improve blockchain technology. Our company has formed a considerable pool of ideas, concepts, and initiatives that can be offered to other industry players. By joining the e Hyperledger community, we are making our inventions accessible to interested parties around the world. “

– Senior Vice President on Sales, Procurement, and Innovation of Nornickel,  Sergey Batekhin

The head of Nornickel reportedly said that their palladium miner company is working to introduce the palladium backed stablecoin in autumn of 2019. In begginng, they will launch the testnet of the pilot project and a fixed number of Nornickel’s contracts will be supported.

Previously, the parliament of Russia said that the Miners in the State Duma have to pay fees on Bitcoin Mining

Earlier this week, Chairman of Russian State Duma said that the upcoming Facebook cryptocurrency Libra will not be legalized in Russia.

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