Building construction meets blockchain, Binance launches NFT platform | The Daily Forkast

Transcript

Welcome to The Daily Forkast, June 25th, 2021. I’m Justin Solomon of Forkast.News, covering all things blockchain — filling in for Editor-in-Chief Angie Lau.

Coming up, construction meets Blockchain in Australia, Binance’s NFT marketplace is now open for business, and a look ahead at Hong Kong’s Digital Art Fair featuring NFTs. Let’s get you up to speed from Asia to the world.

Blockchain for better building safety — that’s what the Australian government is hoping a new partnership will do. This, as authorities in Miami, Florida grapple with the partial collapse of a 12 storey condo building that trapped dozens of residents. Though the cause of the tragic accident may not be known for some time, investigators will certainly be eyeing inspection records and building materials used. That process can be tedious, though. Blockchain technology could speed it up and potentially prevent accidents in the future.

In a partnership commissioned by the New South Wales government, Big Four accounting firm KPMG, along with Australian construction company Mirvac, are developing a platform to track various elements in a building’s construction process.

“We are combining together, on this first incarnation of this platform, information on the long supply chains coming into a building site – like traceability of the materials, we are collecting ratings from third party independent agencies around the participants who contributed to that building as well as all certificates that we can collect across the supply chains.”

The platform also has a bit of a head start. According to Peter, it’s building on existing frameworks and components from blockchain-based platforms by the company that focus on industries like agriculture and financial services.

Taking a quick look at the markets now, and we start with Bitcoin, which ended the trading day here in Hong Kong, up 4.3% to close at just over US$34,200 by 4 p.m. local time. And in the top 10 for cryptocurrencies, it’s been a mixed day of results with Dogecoin outshining the rest, it was up 13%.

While the NFT market may be cooling off, interest in non-fungible tokens in the art world is still running high. Binance’s NFT Marketplace is officially open for business, accepting bids for its debut sale which includes newly digitized works from legendary artist Salvador Dali and a tribute to Andy Warhol pop art.

The auction itself will run primarily on Binance’s Smart Chain with support for the Ethereum network, allowing users to view Ethereum NFTs in Binance wallets.

If you want the chance to hang some Dali art on your virtual wall, better get in quick. The auction closes June 29th.

And finally, if you want to view those NFTs in person, a growing number of art fairs are making that possible. New York City this week, Cube Art Fair is presenting. NFTE is on a fifteen thousand square foot billboard in famed Times Square.

Well, here in Asia, Singapore is Crypto Art Week will kick off in early July, and this fall in Hong Kong, there is Digital Art Fair where NFTs will be on full display.

One artist who will be showcasing his work there is Hong Kong-based Szabotage and Forkast.News Lucas Cacioli caught up with him earlier this week.

“So what do NFTs mean to you? Do you think it’s going to change the art world?”

“I think it already has at the moment. It’s moving in leaps and bounds. And it’s a journey that we’ve always wanted to be part of since we’ve been introduced to it.”

“Will it take over art itself?”

“I don’t know. We have to watch this space and see what happens. But I think it’s fully loaded with opportunities. And speaking as an artist, I see the potential of writing history.”

Writing or painting history, one digital canvas at a time. And that’s The Daily Forkast from our vantage point right here in Asia. For more, visit Forkast.News. I’m Justin Solomon. Until next time.