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Tag: financial blockchain technology

privacy on the public blockchain ethereum BCTECH NEWS 

EY Builds World’s First Enterprise Solution to Secure Privacy on the Public Blockchain Ethereum

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‘Big Four’ professional services firm, Ernst & Young (EY) has launched its prototype of a groundbreaking enterprise blockchain product that has integrated Zero-Knowledge Proof (ZKP) technology to secure privacy on the public blockchain Ethereum. Entitled ‘EY Ops Chain Public Edition’ (PE), the professional services giant intends to boost the adoption of blockchain technology by negating the need to build or join various permissioned, private networks.  EY’s Global Innovation Leader of Blockchain, Paul Brody stated: “The biggest challenge for enterprises’ blockchain adoption is the ability to on-board business partners into their private or consortium blockchain…

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interoperable blockchain financial system nasdaq and microsoft FTSE / NASDAQ NEWS 

Microsoft Partners with Nasdaq to Provide an Interoperable Blockchain Financial System

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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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Ofcom Wins Almost $1 Million to Develop a UK Blockchain Phone Number System

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The U.K.’s telecommunications regulatory authority, Office of Communications (Ofcom) has received close to $1 million (£700,000 Sterling) to develop a national blockchain phone number system. The Department for Business, Energy and Industrial Strategy, setup by the government in 2016, has awarded the grant to Ofcom as part of its £10 million Regulators’ Pioneer Fund.  As stated in a press release on Friday, the Business Secretary MP (member of Parliament), Greg Clark said the project will: “further strengthen our regulatory system and ensure that it keeps pace with the innovation and technological…

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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

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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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FTSE / NASDAQ NEWS 

UK’s Biggest Port Operator Exploring Blockchain Shipping Solutions Across 21 Ports

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UK’s biggest port operator, Associated British Ports begins exploring blockchain shipping solutions across its 21 UK ports, in partnership with logistics software service provider Marine Transport International (MTI). ABP, which carries out 25 percent of the cargo shipments in Great Britain, have signed a Memorandum of Understanding (MoU) with MTI to pilot shipments using blockchain technology.  Commercial Director at ABP, Jens Skibsted Nielsen stated: “We handle almost 100 million tons of cargo across all sectors every year, so we are a significant gateway for our customers’ supply chains,” According to a report by the…

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r3 chorum venture studio FTSE / NASDAQ NEWS 

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

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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

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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

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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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enterprise blockchain solutions FTSE / NASDAQ NEWS 

Technology Giants Intel and SAP Team Up to Develop Enterprise Blockchain Solutions

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World famous chip maker, Intel and SAP have joined forces to develop enterprise blockchain solutions to address “gaps in the market”, and potentially become a direct competitor to the Linux Foundation’s Hyperledger and R3’s Corda. According to a post on Intel’s website, the technology giant has teamed up with SAP, the German-based multinational software corporation, to find solutions that power enterprise blockchain systems for easier integration and adoption.  Tim Allen, a strategic relationship manager at Intel wrote: “SAP and Intel’s co-development efforts are geared toward creating superior blockchain technologies and integrating them with new and…

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FTSE / NASDAQ NEWS 

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

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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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pwc is launching a blockchain course INFLUENCERS NEWS 

‘Big Four’ PwC is launching a Blockchain Course for 1000 Staff to Meet Clients Needs

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One of the worlds ‘Big four‘ professional services firms, PriceWaterhouseCoopers (PwC) is launching digital training programs for its employees, within which PwC is launching a blockchain course to boost knowledge and meet its clients needs. Set to begin in January, the two-year digital skills course, entitled “Digital Accelerators”, will train 1,000 employees on everything from cleansing data and drones, to blockchain technology and 3D printing. Digital talent leader at PwC and head of the program, Sarah McEneaney explained that PwC clients expect things more digitally in order to control their costs,…

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global blockchain patent rankings FTSE / NASDAQ NEWS 

Alibaba and IBM Top the Leader Board for Global Blockchain Patent Rankings

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Tech giants Alibaba and IBM top the leader board for global blockchain patent rankings, according to a new report by iPR Daily, a global technology media outlet that specialises in intellectual property (IP) ecosystems. The research, published on Friday by iPR Daily, ranks entities by patents filed.  It stated that it consolidated data as of August 10 from across China, the EU, America, Japan and South Korea, consulting the International Patent System from the World Intellectual Property Organisation (WIPO). The report shows that the Chinese internet giant Alibaba managed to seal the top position with its 90 patent applications focused on blockchain-related…

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Insurance blockchain consortium FTSE / NASDAQ NEWS 

Enterprise Giants Accenture and EY Join Insurance Blockchain Consortium RiskBlock

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Insurance blockchain consortium RiskBlock appears to be getting set to launch a number of major trials, with it’s recent announcements on bringing enterprise giants Accenture and Ernst & Young (EY) on-board. The RiskBlock Alliance was launched in July of 2017 by The Institute, the world’s leading not-for-profit provider of education and research for risk management and insurance. To date, it has brought 30 global insurers, reinsurers and brokers together as members of the consortium, with the aim of utilising blockchain technology to streamline processes, reducing industry and consumer costs, whilst improving safety…

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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

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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

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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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comcast blockchain advertising FTSE / NASDAQ NEWS 

Comcast Blockchain Advertising Platform Developing with Disney, Channel 4 and TF1

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The second-largest multichannel video service provider in the US, Comcast is developing a blockchain video advertising platform in collaboration with major TV networks from around the world, including NBCUniversal, Disney, Altice USA, Channel 4, Cox Communications, Mediaset Italia and TF1 Group. Entitled the ‘Blockchain Insights Platform’, it aims to streamline and improve security using blockchain technology in the process of data sharing for ad’ planning, buying and tracking premium video advertising. Set to launch this year, Comcast believe that it will “ultimately create even more value for the television advertising industry”.

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aidtech worlds first blockchain baby BCTECH NEWS 

World’s First Blockchain Baby is Registered for Care with AID:Tech and PharmAccess

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Startup blockchain aid organisation AID:Tech makes history by registering the world’s first blockchain baby in Tanzania, in partnership with Dutch organisation PharmAccess, in an effort to improve access to healthcare throughout Africa. Entitled Chain of Trust (CoT), the project has already attracted a flurry of investment from Techstars, Enterprise Ireland, SGI Innovate, and angel investor, Jason Calacanis. Named by the United Nations as a Sustainable Development Goal Pioneer, AID:Tech is now looking to launch their own Transparency as a Service Token (TaaST).

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blockchain car financing platform FTSE / NASDAQ NEWS 

Deutsche Bank, Allianz and Auto1 to Launch Blockchain Car Financing Platform

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Europe’s largest car buyer, Auto1 has partnered with Deutsche Bank and Allianz to create a blockchain car financing platform entitled ‘Auto1 Fintech’. As a major supplier to the commercial used vehicle market, Auto1 works with 45,000 dealers across 30 countries, generating a turnover of 1.5 billion euros per year. Collectively owning more than fifty percent, the three German companies aim to streamline the financing and insurance process, from two weeks to a few seconds utilising blockchain technology.

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

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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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coinbase launches crypto gift cards NEWS REGULATORS 

Coinbase Launches Crypto Gift Cards for Major Retailers in Partnership with WeGift

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One of the world’s biggest cryptocurrency exchanges, Coinbase launches crypto gift cards for its European customers, enabling them to purchase goods and services using their crypto assets with over 120 major brands including Amazon, Tesco, M&S, Thomas Cook and Uber. The new feature comes a few months after securing an e-money license from the UK’s financial regulator. Partnering with digital gift card startup WeGift, customers can convert upto $5000 per day of their cryptocurrency stored in their Coinbase wallets into gift cards.

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