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Russian Food Retailer Dixy Launches Blockchain-based Trade Finance Platform

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Moscow-based fintech start-up Factorin has launched a blockchain-powered supply chain and trade finance platform in cooperation with Dixy, the country’s third-largest food retailer, GTReview reports.

Following a successful 6-month pilot phase, Russian blockchain startup Factorin revealed on Tuesday that it is launching its system into Dixy’s production.

The new Ethereum-based system will allow Dixy’s suppliers to receive payments within one business day, which is way shorter and faster compared with the previous 2 weeks. The system is also connected to several banks, including Alfa Bank, Bank National Factoring Co., and Pervouralsbank, and factoring companies (which expedite the settlements between the retailer and multiple suppliers) like GPB-Factoring using a single interface.

The platform, which can be accessed by members through desktop or smartphones, can also facilitate the verification process and reduce physical labor and related risks.

The blockchain-powered open trade platform has been in the test phase since December and has conducted a total of 12,000 test transactions over the period, Factorin founder Andrei Maclean told CoinDesk. The test results revealed that the platform can significantly reduce the calculation time; thus, the decision to commercially launch the system was made.

Currently, the network is equipped with 20 nodes, and two of which are “full-fledged” nodes on the member servers. Three nodes are currently in the process of being created, while the rest are still working in the cloud.

Last month, payment startup Flexa and Gemini, a Winklevoss-owned digital currency firm, formed a retail initiative that facilitated instant cryptocurrency payments in stores and online for several retail merchants including Crate and Barrel, Nordstrom, Starbucks, Jamba Juice, Bed Bath & Beyond, and Amazon-owned Whole Foods. Through the new SPEDN mobile wallet app, consumers can pay merchants in Bitcoin, Bitcoin Cash, Ethereum, and Gemini Dollar.

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Greek Church recognizes autonomy of Orthodox Church of Ukraine

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The leading figures of the Church of Greece decided at a meeting this weekend to recognize the autocephalous Orthodox Church of Ukraine (OCU), making it the first of the Eastern Orthodox churches to take such a step.

The Holy Synod of the Church of Greece recognized the autonomy of the Orthodox Church of Ukraine in line with a request by the Istanbul-based Ecumenical Patriarch Vartholomaios

The Orthodox Times says the Greeks’ formal recognition will take place October 19 in Thessaloniki, with Archbishop Ieronymos and the OCU’s Metropolitan Epifaniy of Kyiv and All Ukraine present.

The Patriarchate of Constantinople, generally considered the spiritual headquarters for Orthodoxy, granted the Orthodox Church of Ukraine independence in January in a move that was adamantly resisted by Moscow and the Russian Orthodox Church. The new Orthodox Church of Ukraine installed its first metropolitan, Epifaniy, at a ceremony in Kyiv on February 3 in a process that further established the new church body’s independence

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Indonesia’s security minister attacked by man with knife

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Indonesia’s Chief Security Minister Wiranto is conscious and in a stable condition after he was stabbed on Thursday by a man authorities suspect had been radicalized by Islamic State ideology, police said.

Television footage showed the minister slump to the ground beside his car after the attack in Pandeglang, in Banten province, west of the capital on the island of Java.

“His condition is stable and at the moment he is being evacuated to a hospital in Jakarta,” Tomsi Tohir, Banten police chief told Metro TV. A police photograph showed the minister, a former general, being carried on a stretcher into a nearby hospital. The minister had suffered two wounds to his stomach, hospital chief said.  

Police had arrested a man and a woman they suspected were a couple, and seized sharp weapons they were carrying, including knives and a pair of scissors, police chief said.

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Taiwan: China is threating international stability

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Taiwan’s President Tsai Ing-wen has accused China of threatening international stability and pledged for boosting her country’s defence in the face of what Taipei sees as a growing threat from Beijing.

In a televised address to the nation Wednesday, the president stressed the international importance of Taiwan’s democratic values and raised concerns about Chinese infiltration. The remarks are seen as a sign of Taipei’s hardening resistance to Beijing’s opposition to her government.

“The people of Taiwan will never accept any attempt by external forces to unilaterally change the cross-Strait status quo. I am calling on the authorities in Beijing, as a responsible major power, to play a positive role in the region and the world, instead of being a source of conflict,” Tsai said.

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