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The New York Times confirmed its readiness to implement blockchain technology to combate fake news around the world
...here were many attempts to help readers recognize when a source shouldn’t be trusted. One of the latest projects in this field comes from the New York Times. The New York Times (the NYT) Company has recently revealed information relating to its blockchain technology project specifically developed to fight against fake news. The NYT by means of IBM Garage, the accelerator program of the te...
Path: BlogAustralia is planning to implement blockchain technology in order to automate transaction reporting
**The Australian Transaction Reports and Analysis Centre (AUSTRAC) currently is testing a blockchain prototype with a goal of funds transfer automation.** ZDNet reported this Sunday that the AUSTRAC has partnered with the Swinburne University of Technology in Melbourne for the purpose of building a model for testing. The aforementioned associates will particularly test how blockchain and rela...
Path: Blogblockchain technology to be used for cross-border forex transfer in China
China’s foreign exchange reserve regulator, the State Administration of Foreign Exchange (SAFE), jointly with the Hangzhou Blockchain Research Institute, has developed a blockchain platform for cross-border financial trades. At present, a highly complex industry such as China's import and export financing system relies on manual, paper-based operation for processing. In order to resolve this...
Path: BlogChina to become the first country to issue state-owned cryptocurrency
...try to issue domestic cryptocurrency.** The government plans to provide the digitized currency to commercial banks and other institutions, then those will transmit to the public. The President of China Xi Jinping has expressed his support for the blockchain technology and development of the first state-owned cryptocurrency. He revealed that the government is ready to invest in the advancement o...
Path: BlogGerman Political Parties raise discussion on implementing Regulation for Crypto Blockchain Industry
... strong technology base can only succeed in a progressive European framework,” the document added in regards to the ‘digital awakening.’ **Optimism on Blockchain** However, the coalition still is positive about the current development of blockchain technology, pointing out that investments in artificial intelligence and other distributed ledger technology (DLT) could get incentivized i...
Path: BlogDubai is set to regulate investment tokens
...ributing to the ongoing growth of future-focused financial services in the DIFC.” Simon Hudson, founder and CEO of Cheeze Inc., told Arabian Business media outlet the following: "Regulating tokens in my opinion is a step in the right direction. blockchain technology is still very early but its huge adoption and daily trade volume shows that it is here to stay. By adding an underlying regulati...
Path: BlogTanzania takes steps to cryptocurrency implementation
...unday, 13.06.2021, Tanzanian president, Saami Suluhu Hassan, gave a speech, in which she urged the central bank to start preparations for cryptocurrency implementation. She stated, that it is impossible to ignore the fact, that cryptocurrency and blockchain technology as a whole is on a rise and in terms of keeping up with the modern world, Tanzania has to pave the way for development of abovem...
Path: BlogFirst Digital Securities Exchange Approved by Financial Conduct Authority
...curity’s initial issuer. These platforms are essential for the health of securities, as they provide investors with access to liquidity in their holdings. Digital securities take real assets, such as equity, debt or funds, and tokenise them using blockchain technology. This not only modernises and simplifies the capital raising process via disintermediation and removing frictions, but also help...
Path: BlogGermany Introduces Draft Bill on Blockchain-Based Digital Securities
...hen Germany as a business location and to increase transparency, market integrity and investor protection.** At the moment laws in Germany states that financial instruments that are classified as securities must be secured in a document. Therefore, blockchain technology could help to guarantee liquidity by providing a digital replacement for paper certificates. Proposed legislation also brings...
Path: BlogGovernment of India working on law to ban crypto trading
...cketed. Many oversee crypto companies are also entering the Indian market lately. Notably, there is no supportive voice from the Indian lawmakers towards Bitcoin or other digital currencies. However, many were hailed for their contribution to the blockchain technology. Millions of dollars worth of business in cryptocurrency is being done every week, with the lockdown pushing up the volumes. ...
Path: BlogFirst central bank issued digital coin in the euro zone
...later, in July of 2020 Lithuania is about to issue the first central bank-produced digital coin in the euro zone. This week the Baltic country will issue the digital coin- LBCOIN, as part of a project to trial central bank digital currencies and blockchain technology in everyday use. Currently it is planned to issue a twenty-four thousand digital tokens, which will go on sale next week, based ...
Path: BlogPotential PayPal Entry into Cryptocurrency Market
...urrency market in past, but this would be the first time company directly take a part in industry. PayPal has been working with crypto since 2014 when they started accepting Bitcoin, and over the years, company have gained experience with crypto and blockchain technology. Furthermore, PayPal is hiring crypto and blockchain experts and it has been said that the global payment platform will enable d...
Path: BlogCambodia will launch a central bank digital currency
**“Project Bakong” first trialed last summer is a specially designed digital currency that will serve as the national payment gateway for Cambodia.** Based on the blockchain technology, a peer-to-peer platform with its own digital currency will be launched in the coming months. Bakong central digital currency was designed by the Japanese blockchain company. The company Soramitsu has devel...
Path: BlogThe UN warns on North Korean Crypto Conference
...ear the UN panel reported that North Korea is involved in sophisticated cyberattacks and generated about $2 billion by taking funds from crypto exchanges and financial institutions. The international community is concerned that North Korea might use blockchain technology for harmful purposes. In addition, it worth noting that Ethereum Foundation researcher Virgil Griffith faced the indictment ...
Path: BlogThe evolution of Forex in the 21st century
...r of FX market. The effects of such policy changes as Bing Bang are always dramatic, so having an understanding of the policies is a great way to prepare for changes that may occur in the future. Blockchain and Crypto Cryptocurrencies and blockchain technology certainly are taking many industries further. Forex industry is not an exception. Crypto technologies are just beginning to tran...
Path: BlogKnow-hows on Different Legislations and Blockchain Implementation Profitability in Your Business
...r countries are planning to implement regulations on Blockchain. For example, Russian government promises new legislation to enter in force by 2019 but there is still no information on its contents. In the UAE, there is already a stable approach to blockchain technology. Dubai already initiated a program to implement new technology countrywide and by 2020 this Emirate promises to be fully Blockch...
Path: BlogLocal cryptocurrency could soon be used in Japanese regions
...se-Shima area and settle at facilities such as Shima Village or Shima Kanko Hotel in Shima City. Two entities conducting an experiment have been working on joint crypto projects for two years. In 2017, they were testing a payment system based on blockchain technology. In 2018, the companies were trying out the QR code technology and person-to-person transfers. This year, Mitsubishi Research In...
Path: BlogIs Accepting Bitcoin a Reasonable Choice for Banks?
...are ready to create their own currencies to meet the demands of evolving innovations. Not only the Citigroup speaks positively about the Bitcoin, but also other major banks in countries like China, Russia, Japan and others. They already suppose that blockchain technology and cryptocurrencies can solve many problems with trans-border transactions, fund operations and even client services. Most W...
Path: BlogFINRA grants extended deadlines for companies to report their crypto activities
...n in an ICO or Pre-ICO; • facilitating the clearing or distribution of cryptocurrencies; and • recording cryptocurrencies using blockchain or distributed ledger technology. FINRA also recommended that member firms report ‘any other use of blockchain technology,’ with the only exception being if the said agency had already notified the regulatory body earlier. Regarding earlier submiss...
Path: BlogLuxembourg has just passed the law providing a legal framework for blockchain securities
...orward-thinking countries from the point of blockchain legislation implementation. At the moment, the country has taken a significant step forward in providing transparency and legal definiteness concerning the distribution of securities by means of blockchain technology. As was stated in a notice, published Thursday last week, the country’s Chamber of Deputies adopted the bill with 58 member...
Path: BlogA Blockchain Education Network: the new era of scholastics
**blockchain technology continues to see expansion into every business sector, including the education system.** The added efficiency and security of implementing of a blockchain protocol is undeniable. The paper-based system that dominates most of the educational networks of the world is grossly outdated, and there is no real global consensus on the overall status of education. These systems...
Path: BlogDubai International Financial Center is planning to launch the world's first blockchain court
**The Dubai International Financial Centre (DIFC) has partnered with Smart Dubai to establish the world’s first “Court of the Blockchain”.** The abovementioned organizations recently announced that they are conducting researches regarding the blockchain technology and how it can be implemented, and used to enforce court rulings and separately on the resolution and mitigation of disputes rel...
Path: BlogWorld Bank launches first global blockchain bond-i and raises AU$110 million
...ough its life cycle using distributed ledger technology (blockchain). The bond raised AU$110 million, marking the first time that investors have supported the World Bank’s development activities in a transaction that is fully managed using the blockchain technology, as was stated in press release of the World Bank. **The World Bank authorized Commonwealth Bank of Australia (CBA) as arrang...
Path: Blog5 signs of booming blockchain innovation in Australia
...and blockchain companies since 2014, but they’re actually migrating their entire infrastructure to blockchain by 2020. We’re not just talking about listing Bitcoin or other digital assets here. The country’s main stock exchange will embrace blockchain technology entirely. The plan is to implement a post-trade system that is blockchain-based. This will replace their existing Clearing House...
Path: BlogDecentralized Internet – affordable resources and privacy on the web
...ople speak of a decentralized internet, the gist of the matter seems to be the lack of privacy on the web, the lack of control over our personal data, and the desire for affordable resources. No one product defines the decentralized internet, but blockchain technology provides at least some capabilities to achieve these goals in a variety of functional areas. Time will tell if the products on o...
Path: BlogWhy cryptocurrency is the future of electronic cash systems
...l. This has given new opportunities for consumers and businesses around the world to become more connected. A lot has changed since Satoshi Nakamoto’s original white paper in November 2008. We’ve seen major advancements in the capabilities of blockchain technology to empower a better future of P2P payments via cryptocurrencies (despite the Bitcoin dip). When considering the current lands...
Path: BlogList of ICOs to watch in June
At present, the main concern among cryptocurrency enthusiasts is a sharp drop in the exchange rate. But this does not affect **the popularity of the blockchain technology**. Recently, the **number of new blockchain projects, varying from gaming to artificial intelligence, rapidly increased**. Here are some projects that successfully launched during the previous month and are worth to be revie...
Path: BlogGovernmental digitalization in Malta
Recently the **Parliament of Malta considered three bills on distributed ledger technology**. Simply put, distributed ledger technology (DLT) is widely known as **blockchain technology**. Analyzing the provisions of the aforementioned documents, we can certainly say that the public authorities of Malta have a positive attitude towards the blockchain technology. **Malta government authoritie...
Path: BlogVirtual currency draft bill in Gibraltar
...legislation. It is expected to be considered by the Parliament and to come into force in the second half of 2018. How will Gibraltar treat **virtual currencies**? First, sale, distribution and promotion of any kinds of tokens and coins which use blockchain technology will be subjected to the regulation. Consequently, new acts will contain rules about investments, secondary market activities an...
Path: BlogDubai’s VARA Fines 7 Crypto Companies and Issues Cease-and-Desist Orders
...with overseeing the burgeoning virtual assets sector, protecting investors, and ensuring that businesses comply with legal frameworks, including anti-money laundering (AML) rules and know-your-customer (KYC) requirements. While Dubai has embraced blockchain technology and crypto, it is also making clear that non-compliance with its regulatory standards will not be tolerated. This enforcement hi...
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