interoperable blockchain financial system nasdaq and microsoft FTSE / NASDAQ NEWS 

Microsoft Partners with Nasdaq to Provide an Interoperable Blockchain Financial System

Global technology giant, Microsoft has revealed that it has cemented a partnership with Nasdaq to provide an interoperable blockchain financial system for traders, via its Azure Blockchain arm. As the world’s second largest stock exchange, Nasdaq has decided it is time to accelerate its blockchain technology capabilities, which it is now doing by integrating Microsoft Azure Blockchain services into the Nasdaq Financial Framework (NFF).  Senior vice president of enterprise architecture at Nasdaq, Tom Fay stated: “from our perspective, Azure is unlocking the power of the blockchain” Launched in 2016, the NFF powers applications and software…

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jpmorgan blockchain platform to rival r3 FTSE / NASDAQ NEWS 

75 Major Banks Join JPMorgan Blockchain Platform to Rival R3 and Fintech Startups

More than 75 multinational banks have joined the JPMorgan blockchain platform to rival R3, or any other company outside of the banking sector, in a bid to keep payments ‘in-house’ via the Interbank Information Network (IIN). JPMorgan, the largest bank in the U.S., departed from the R3 consortium after a year’s membership, and together with the Royal Bank of Canada and the Australia and New Zealand Banking Group (ANZ), in October 2017 they began developing the IIN payments platform. Built using JPMorgan’s Ethereum-based private blockchain Quorum, in partnership with development studio EthLab, the…

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r3 chorum venture studio FTSE / NASDAQ NEWS 

RBS Blockchain Team Jumps Ship to Start R3 Chorum Venture Studio Project

Members of Royal Bank of Scotland’s (RBS) blockchain team have announced that they are leaving to launch an R3 Chorum venture studio, a project that aims to do for Corda what ConsenSys is doing for Ethereum. Richard Crook, former head of the RBS innovation team has made the move, taking with him engineers Mark Simpson, Ben Wyeth and Farzad Pezeshkpour. Crook and his team were responsible for developing the Cordite token project on R3‘s Corda platform, which RBS led in a bid to create a generic crypto asset blockchain system for the banking…

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bmw selects blockchain startup bloom FTSE / NASDAQ NEWS 

BMW Selects Blockchain Startup Bloom to Develop Customer Lending Solution

German automotive giant, BMW selects blockchain startup Bloom to develop customer lending solutions with the aim of streamlining its financial services for its customers. Launching a ‘BMW Financial Services Collaboration Lab’ (BMW FSCL), Bloom together with five other start-ups shortlisted from 212 applicants, will collaborate in a 10-week lab at BMW Financial Services’ offices in Hilliard, Ohio, to further develop their ideas, alongside leading subject matter experts in the automotive and financial sectors. The BMW FSCL aims to digitalise the customer journey, critical areas that the the program will focus on…

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blockchain land registry solutions NEWS REGULATORS 

UK’s Property Regulator Enlists R3’s Corda for Blockchain Land Registry Solutions

R3 CEO, David Rutter announced on Thursday at London’s CordaCon annual gathering, that the U.K. government has selected R3’s Corda to develop blockchain land registry solutions. The U.K. government‘s HM Land Registry (HMLR), which safeguards land and property ownership worth over £4 trillion, including approximately £1 trillion of mortgages, aims to explore how to make the house buying process in the UK faster, simpler and more transparent. The appointment comes as part of the second phase of HMLR’s research and development project, entitled ‘Digital Street’.  The HMLR’s website states: “The point of…

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FTSE / NASDAQ NEWS 

IBM Blockchain Payments Platform ‘World Wire’ Goes Live Powered by Stellar

The IBM blockchain payments platform has officially been taken out of beta and is now live, entitled ‘Blockchain World Wire’, it is powered by the Stellar network, with whom it has been working with since October 2017. ‘World Wire’ aims to provide financial institutions with ‘a new way to move money’, according to the website it states that it can: “simultaneously clear and settle cross-border payments in near real-time” Essentially, the IBM blockchain payments platform is designed to negate the time heavy and costly intermediary processes that international payments systems have traditionally…

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$24 billion deal for china's electric buses FTSE / NASDAQ NEWS 

Blockchain Company Seven Stars Cloud Wins $24 Billion Deal for China’s Electric Buses

Blockchain focused fintech company, Seven Stars Cloud has won a $24 billion deal for china’s electric buses to be upgraded, in order to meet the governments plan to replace all buses with electric buses by 2021. As stated in a press release published on Monday, Seven Stars Cloud Group (SSC), a publicly traded company on Nasdaq, has signed a three year exclusive contract with China‘s biggest electric bus operator, National Transportation Capacity Co Ltd (NTS). The deal will see SSC manage two funding campaigns to raise $8.75 billion in China, and the other open to…

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first ever blockchain bond - world bank NEWS REGULATORS 

World Bank and CBA to Issue First Blockchain Bond with Ethereum and Microsoft

In a major announcement, the World Bank is preparing to issue the first blockchain bond to the Commonwealth Bank of Australia (CBA) on a private Ethereum-based blockchain, which will run on Microsoft Azure’s cloud platform. Currently, the World Bank issues between US$50-US$60 billion annually in bonds for sustainable development. It says that blockchain technology has the potential to “help simplify raising capital and trading securities; improve operational efficiencies; and enhance regulatory oversight”

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U.K. Law Commission Researching Law Reform for Use of Blockchain Smart Contracts

Further to the release of a report, the U.K. Law Commission, has begun a formal project researching into law reform for use of blockchain smart contracts in the British legal ecosystem. The agency, set up by Parliament, has dentifyied blockchain technology as a significant area that is seeing uptake, especially in the financial services world. With finance and banking being one of it’s top industries in the UK, and London the world’s largest financial centre. The commission has stated the necessity of reform to remain competitive for enterprise.

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google blockchain cloud service launches FTSE / NASDAQ NEWS 

Google Blockchain Cloud Service to launch with Startups Digital Asset and BlockApps

Google’s blockchain cloud service launched today at its Cloud Next ’18 conference in San Francisco. Unlike fellow tech giants Microsoft and Amazon, it has not launched directly with Hyperledger and Ethereum. Instead it has partnered with blockchain startups BlockApps and Digital Asset, both specialising in enterprise level solutions. Although Google is one of the last cloud giants to offer blockchain, it was also the second most active blockchain investor between 2012 and 2017. Unnamed sources have previously said that Google is working on its own distributed ledger.

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blockchain financial reporting big four FTSE / NASDAQ NEWS 

The Worlds ‘Big Four’ Accountancy Firms Join to Trial Blockchain Financial Reporting

The world’s largest accountancy firms, Deloitte, EY, KPMG and PwC join a consortium of 20 major banks trialling a revolutionary blockchain financial reporting service. Developed by the Taiwanese banking consortium, with the cooperation of Taiwan’s FISC, the platform aims to streamline ‘external confirmation’ processes for auditing companies, from “half a month” to “within a day”. The ‘big four’ will begin with the pilot in Taiwan, with expansion of the trial set for next year to include over 1,400 publicly-listed companies in China.

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saudi arabia selects ibm to develop blockchain NEWS REGULATORS 

Saudi Arabia Selects IBM to Develop Blockchain for the City of Riyadh

In a major contract with oil rich Saudi Arabia, IBM have been selected to develop blockchain for the Municipality of its capital city Riyadh, integrating both government and commercial services for its 7 million citizens and residents. IBM have been instructed to work closely with the municipality’s technology partner, Elm. The blockchain initiative is in line with the Saudi Vision 2030 program, a plan enacted by Crown Prince Mohammad bin Salman in 2016, and is focused on reducing the country’s dependence on oil revenue by diversifying the economy.

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delaware signs ibm to build a blockchain filing system NEWS REGULATORS 

Leading U.S. Business State, Delaware Signs IBM to Build a Blockchain Filing System

In a $738,000 deal without competitive bidding, the corporate friendly U.S. state of Delaware signs IBM to develop a blockchain filing system prototype on its Hyperledger Fabric blockchain. Delaware aims to utilise blockchain technology to assist business registration, and allow corporations to take advantage of smart contracts to automatically track stocks and collateral assets in real time. With more than half of all U.S. publicly traded companies, and two thirds of the fortune 500 incorporated in the state, it is a significant move.

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blockchain technology can save the UK government £8 billion NEWS REGULATORS 

British MP Reveals that Blockchain Technology Can Save the UK Government £8 Billion

On the release of a report entitled ‘Unlocking Blockchain’, British Conservative Member of Parliament (MP) Eddie Hughes urges government to appoint a Chief Blockchain Officer, stating that blockchain technology can save the UK government £8 Billion. The report suggests that businesses standing to benefit from increased adoption of blockchain technology, could fund a competition to attract talented blockchain developers. British Prime Minister Theresa May has recommended that a digital copy of the report should be sent to every member of British Parliament for their consideration.

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European Banks Complete First Blockchain Financial Trades FTSE / NASDAQ NEWS 

Nine Major European Banks Complete First Blockchain Financial Trades with ‘we.trade’

A consortia of nine major European banks including HSBC, Santander and Société Générale, have announced the successful completion of the first ten blockchain financial trades, made using their jointly developed blockchain platform, we.trade. The trade solution, built on IBM’s Hyperledger Fabric blockchain, is aimed to be a game changer for SME commercial banking clients within Europe. Available across eleven countries, COO Roberto Mancone confirmed it will begin licensing to other banks over the coming months, expanding its reach globally.

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banking industry to launch crypto tokens FTSE / NASDAQ NEWS 

RBS Leading Banking Industry to Launch Crypto Tokens with R3’s Corda Technology

RBS, one of the world’s 30 largest financial institutions, has confirmed that it has been leading a consortia of banks to develop an enterprise blockchain standard platform entitled Cordite, which will allow the banking industry to launch crypto tokens on one network. Utilising the coding of R3 Corda blockchain technology, the open source CorDApp aims to do what the ERC-20 standard did for Ethereum, ensuring that all tokens adhere to a set of functions, anywhere within the Cordite system.

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blockchain content rights microsoft EY FTSE / NASDAQ NEWS 

Microsoft and EY Join Forces to Build World’s Biggest Enterprise Network with Blockchain Content Rights Platform

In a partnership with ‘big four’ consulting firm EY, Microsoft launch a blockchain content rights platform to manage the licensing process, and potentially become the world’s biggest enterprise network. The intellectual property of content generates millions of transactions per month, aggregating to billions of dollars in royalties. With the launch of the blockchain royalties platform, Microsoft and EY aim to majorly transform the value chain, cutting out the ‘middlemen’ and reducing the payment period from 45 days to just one.

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Sergio Ermotti, CEO of UBS believes blockchain technology INFLUENCERS NEWS 

Sergio Ermotti, CEO of UBS Believes Blockchain Technology is “almost a must” in Banking

Sergio Ermotti, CEO of Swiss financial services giant UBS believes blockchain technology is “almost a must” for banking. In an interview with CNBC on Monday, he revealed that he is convinced that the technology: “will be as crucial and disruptive, and changing as regulation was in the last 10 years.” Ermotti said the focus is on the future, as he sees the cost base of the banking industry transforming over the coming five to ten years, he stated: “The only way you can stay relevant is not only by being strong…

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ADX signs a blockchain deal FTSE / NASDAQ NEWS 

UAE Stock Exchange ADX Signs a Blockchain Deal with UK Startup EquiChain

Abu Dhabi Stock Exchange ADX signs a blockchain deal with UK fintech startup EquiChain, blockchain specialists for capital markets. The UAE has been leading the way in the oil rich region, several capital markets throughout the Arabian Gulf are looking at blockchain technology for their logistics and operations. The partnership with ADX, marks a high profile step for the company’s endeavours within the Middle East. It is one of four financial market infrastructures from the MENA region to join the working community.

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FTSE / NASDAQ NEWS 

Crypto Miners ‘Argo’ to be First Blockchain Company Listed on London Stock Exchange

Crypto mining as a service company (MaaS) Argo, is set to be the first blockchain company listed on London Stock Exchange this week. UK-Canadian company Argo Blockchain have built a data centre that runs off cheap, green hydro-power and will sustain mining at scale. With a team of just 20 people and a prolific angel investor, Gil Penchina involved, the company has stated that it expects to be valued at around £40 million, with the aim of raising £20 million in the listing.

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