Archive | February, 2016

Bitt launches Barbadian dollar on Blockchain

February 29th, 2016 by

Bitt Inc. has announced the launch of a blockchain-based version of the Barbadian dollar, a new product that it believes will help its service appeal to underbanked users in Barbados. The new digital currency essentially acts as a digital equivalent of the official government-backed Barbadian fiat currency. The exchange rate is fixed to 1:1 between […]

European Parliament calls for task force on digital currencies

February 26th, 2016 by

The European Committee on Economic and Monetary Affairs has published a draft report on digital currencies and blockchain. The report, penned by European Parliament member (MEP) Jakob von Weizsäcker of the Committee on Economic and Monetary Affairs, seeks the establishment of a task force that would study digital currencies and provide policy advice to the European […]

Japanese banks and tech firms join forces for blockchain research initiative

February 25th, 2016 by

ORIX Corporation, ORIX Bank Corporation, The Shizuoka Bank, Ltd., NTT DATA Corporation, and NTT DOCOMO Ventures, Inc. announced that they have agreed to commence joint research toward the development of new financial services using blockchain technology. Orix and Shizuoka, the banks involved with the project, said they plan to test international remittance and transaction settlement […]

UK Financial Conduct Authority in no rush to regulate blockchain tech

February 25th, 2016 by

Christopher Woolard, director of strategy and competition at the Financial Conduct Authority (FCA), said the FCA does not plan to regulate the blockchain industry for now as it believes the technology will need “space” to grow. “The FCA continues to monitor the development of this technology but is yet to take a stance until its […]

BitMEX integrates bitcoin futures contracts with China stocks

February 24th, 2016 by

BitMEX announced the launch of the world’s first bitcoin denominated futures contract on a Chinese A Share index. The new instrument from the bitcoin derivatives focused venue allows cryptocurrency investors to access the walled-off equity market in China and trade with up to 25 to 1 leverage. “Trading the China A share market for most […]

Japanese financial regulators propose treating bitcoin as currency

February 24th, 2016 by

Japanese financial regulators have proposed the Financial Services Agency (FSA) to handle digital currencies like bitcoin as methods of payment equivalent to conventional currencies. The FSA is considering whether to make revisions to legislation that would classify digital currencies as “fulfilling the functions of currency”. The FSA believes the legal status of bitcoin will spur the […]

California Bankruptcy Judge: Bitcoin is property not cash

February 23rd, 2016 by

During a hearing held last Friday, US Bankruptcy Judge Dennis Montali has ruled that bitcoin is an intangible personal property. The hearing relates to a suit filed by the trustee of bankrupt bitcoin mining firm HashFast Michael Kasolas against Marc Lowe, a former promoter for the service, seeking to recover 3,000 BTC (approximately $1.3 million) that had […]

JPMorgan quietly tests blockchain tech for dollar transfers

February 23rd, 2016 by

J.P. Morgan Chase & Co. is quietly testing the blockchain technolgy on U.S. dollar transfers between London and Tokyo, part of an effort to boost its spending to deal with emerging threats from Silicon Valleyo, The Wall Street Journal reported. J.P. Morgan’s head of corporate and investment bank Daniel Pinto told the Journal that the […]

Mizuho announces partnership with Cognizant to trial blockchain tech

February 22nd, 2016 by

Mizuho Financial Group and Cognizant announced a strategic agreement to develop a blockchain solution for secure record-keeping of documents among Mizuho Financial Group companies around the world. “We are pleased to be among the early adopters of blockchain technology in Japan to make our processes and workflows faster and more efficient. The global domain and […]

European Central Bank exploring the potential of blockchain tech

February 19th, 2016 by

The European Central Bank (ECB) has said that it is exploring the potential of blockchain technology for its own purposes. The European Union’s central bank has, in a report, revealed that it is looking toward new innovations such as blockchain or distributed ledger technology to help run payment and settlement systems. “As part of its […]