Archive | August, 2016

Monetary Authority of Singapore proposes regulatory framework for bitcoin startups

August 30th, 2016 by

The Monetary Authority of Singapore (MAS) is proposing a new regulatory framework for payments providers, including bitcoin exchanges, in the city state. Under the proposal, payment activities will be divided into several categories and companies involved in payment services will be required to obtain a license from the central bank. Digital currency exchanges would be […]

US government funds development of new bitcoin analytics tool

August 26th, 2016 by

Sandia National Laboratories, a research lab run by Lockheed Martin, is working on a bitcoin analytics tool for the Department of Homeland Security. The project, first detailed in a 19th August newsletter published by Sandia, marks a continuation of previously detailed efforts at the DHS. The project is being funded by the DHS Science and […]

R3 blockchain consortium files patent for its banking blockchain technology

August 26th, 2016 by

R3 CEV has filed for a patent covering software behind the new project ‘Concord’. In a patent filing seen by the Wall Street Journal, R3 CEV gives a picture of what it has developed over the last year. Dubbed Corda, the software is part of R3’s wider blockchain-inspired, shared ledger development project, called Concord in […]

4 major banks plan to launch “Utility Settlement Coin”

August 25th, 2016 by

UBS, Deutsche Bank, Santander and BNY Mellon have partnered on a blockchain project aimed at creating a means to clear and settle transactions worldwide. The banks has developed a “Utility Settlement Coin” (USC), which is a digital cash equivalent of each of the major currencies backed by central banks, such as the dollar or euro, […]

Factom teams up with Intrinio to put Wall Street on the blockchain

August 25th, 2016 by

Factom announced it has partnered with Intrinio to put Wall Street on the Factom blockchain, meaning that immutable US stock market data is now available to the world. Every 15 minutes, the pricing data for the 3,000 most valuable US stocks are now being published into the Factom blockchain, providing not only an immutable record […]

Bank of Japan may apply fintech to its operations

August 24th, 2016 by

Bank of Japan Governor Haruhiko Kuroda said that the bank may apply fintech to its operations due to its increasing impact on financial services. The BOJ is ready to lead research and analysis to promote fintech in Japan given it has “various implications” for central banking, Kuroda told a seminar hosted by the bank on […]

Japanese banks form blockchain consortium for domestic and forex services

August 24th, 2016 by

SBI Holdings, a Japan-based financial service company, and its subsidiary SBI Ripple Asia Co. Ltd. have collaborated to form a consortium that will work on using the blockchain for centralized domestic and foreign exchange services. Dubbed the “Consortium for Considering Using Blockchain Technology to Centrally Provide Domestic and Foreign Exchange Services,” the consortium already has […]

Uk’s Financial Conduct Authority to encourage blockchain businesses

August 23rd, 2016 by

The UK’s Financial Conduct Authority (FCA) will possibly approve blockchain businesses within the region. Speaking with Financial Times, the financial watchdog said that a number of groups in its preapproval stage are engaged in the development of blockchain-based consumer-facing and compliance products. “We do think [blockchain] has got some potentially interesting applications and we are […]

Hitachi and BTMU test blockchain for check digitization

August 23rd, 2016 by

Hitachi, a Japan-based electronics company, and the Bank of Tokyo-Mitsubishi UFJ (BTMU) announced that they have partnered and started a proof of concept project testing the digitization of checks using blockchain technology. The goal of the venture is to have a cross-border validation system that can be used by bank and businesses to quickly validate […]

UBS’ blockchain innovation lead to depart the firm in October

August 19th, 2016 by

UBS announced that innovation lab lead and ‘crypto 2.0′ researcher Alex Batlin is leaving the bank in October to “pursue a new opportunity”. “There is no change to our focus and approach on blockchain technology. We are reviewing the options for internal and external candidates to lead the next phase of the programme and to […]