Breaking “the Silo Between Blockchain-Based Cryptocurrency and the Existing Monetary System” is a Priority for the PBoC

The Digital Currency Research Lab at the People's Bank of China has been working hard to develop a cryptocurrency which would be composed of features of both cryptocurrencies and the present monetary system by filing more than 40 patents in less than a year, reported Coindesk on June 26. According to PBoC's patents, the main goal … Continue reading Breaking “the Silo Between Blockchain-Based Cryptocurrency and the Existing Monetary System” is a Priority for the PBoC

Blockchain is ‘Definitely an Opportunity’ in the Long Term, Says UBS CEO

UBS CEO, Sergio Ermotti, said that blockchain is "definitely an opportunity" in the long term to help businesses reduce their costs, according to an interview made by CNBC. He told CNBC, "It's almost a must. The freeing up of resources to become more efficient will come through technology and blockchain is a great way to … Continue reading Blockchain is ‘Definitely an Opportunity’ in the Long Term, Says UBS CEO

The World’s Largest Blockchain Insurance Group Will Use R3’s Corda Platform

The world's largest blockchain insurance group will use R3's Corda platform in order to develop new products, reported Coindesk on June 18. The Blockchain Insurance Industry Initiative (B3i), founded by Allianz, Aegon and Swiss Re with the support of  AIG and AIA, will be using the platform to develop a new reinsurance blockchain system and will also … Continue reading The World’s Largest Blockchain Insurance Group Will Use R3’s Corda Platform

Square is Granted a BitLicense

The payment firm Square is granted a BitLicense from New York regulators, according to a press release published on June 18. The New York State Department of Financial Services (DFS) announced that it had approved Square's application for a cryptocurrency license, which was submitted in March. Maria T. Vullo, a Financial Services Superintendent, mentioned, "DFS … Continue reading Square is Granted a BitLicense

Factom Blockchain Project Is Granted the Task to Secure U.S. Border Patrol Data

Factom Blockchain Project is granted the task to secure the U.S. border patrol data recorded with cameras and sensors through a platform in a beta version by being awarded a sum of $192,380 during the final phase of S&T’s Silicon Valley Innovation Program (SVIP), according to a Homeland Security press release. The S&T Identity Management Research and Development Program Manager, Anil John, … Continue reading Factom Blockchain Project Is Granted the Task to Secure U.S. Border Patrol Data

Two Major Russian Banks Are Testing Cryptocurrency Portfolios

Two major Russian banks, Sberbank and Alfa-Bank, are testing cryptocurrency portfolios for private clients, according to a local news outlet. The two financial institutions will be offering its customers shares in a fund in which Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, and EOS will be traded on cryptocurrency trading platforms such as Kraken and BitStamp. Each quarter, … Continue reading Two Major Russian Banks Are Testing Cryptocurrency Portfolios

JD.com Plans to Issue Asset-Backed Securities on the Blockchain

E-commerce giant JD.com plans to issue asset-backed securities (ABSs) on the blockchain, reported Cointelegraph on June 13. The subsidiary JD Finance will issue the ABS in collaboration with Huatai Securities and Xingye Bank, according to China’s Securities Regulatory Commission (CSRC) through its media outlet Securities Times. The partnership aims to asses blockchain's potential to support asset … Continue reading JD.com Plans to Issue Asset-Backed Securities on the Blockchain

Bitcoin’s Price Increased Abnormally During the Recent Boom Due to Tether Manipulation, a Study Says

Bitcoin's price increased abnormally during the recent boom due to the manipulation of the U.S. dollar-pegged tether, reported Coindesk on June 13.  The new study published by John Griffin and Amin Shams, two professors of the University of Texas at Austin's Department of Finance, was conducted to determine the influence of the stablecoin with bitcoin's prices … Continue reading Bitcoin’s Price Increased Abnormally During the Recent Boom Due to Tether Manipulation, a Study Says

Germany’s Finance Regulator Chief: Blockchain Can Turn the Entire Financial Sector ‘Upside Down’

Germany's finance regulator chief, Felix Hufeld mentioned that blockchain can turn the entire financial sector "upside down" and that it is "revolutionary", reported Coindesk on June 13. During a speech at an event in Berlin last week, Hufeld, which is president of the German Financial Supervisory Authority (BaFin) expressed how German regulators see the blockchain technology and bitcoin … Continue reading Germany’s Finance Regulator Chief: Blockchain Can Turn the Entire Financial Sector ‘Upside Down’

Financial Institutions Have Raised Their Blockchain Budget of 67% in 2017, According to a Research

Financial institutions have raised their blockchain budget of 67% individually in 2017 with a combined total of $1.7 billion invested for the technology, according to a research published by U.S.-based market intelligence firm Greenwich Associates on June 12. Banks are starting to roll out more distributed ledger technology products as they move beyond the proof-of-concept stage. The … Continue reading Financial Institutions Have Raised Their Blockchain Budget of 67% in 2017, According to a Research