UK government looks to blockchain technology to drive digitalization

Blockchain and smart contracts are among the key technologies that the UK government will focus on going forward as part of its digitization efforts. The centre’s new strategy includes “new ways to work with personal data with more control and trust, applications of blockchain and smart contracts, cybersecurity particularly for emergent threats”.

Smart Dubai selects IBM, Consensys for city-wide blockchain implementation

Smart Dubai Office, the government initiative to implement innovative technology, announced that it has selected IBM, as its Blockchain Lead Strategic Partner, and Consensys, as Blockchain City Advisor and has officially started the first city-wide effort to implement blockchain technology. Smart Dubai will be conducting workshops over the coming months with key government, semi-government and private organizations in Dubai in order to identify and prioritize the services that can be most enhanced by the application of blockchain technology.

Blockchain startup Ripple launches new tool for banks

Blockchain technology provider Ripple has announced the launch of a new tool, designed specifically to help banks understand their cross-border payment cost structure and how it can help them overcome current inefficiencies. The new cost model will enable banks to enter transaction volume and operational metrics to receive a custom cost analysis. The solution is designed to lower total cost of the settlement, enabling banks to transact directly and with the real-time certainty of settlement.

EU draft law seeks to empower financial watchdogs to monitor bitcoin users

Members of the European Parliament (MEP) have published a new draft legislation which details how they seek to regulate digital currencies and prevent the use of the financial system for money laundering and terrorism financing purposes. The MEPs are particularly interested in empowering financial watchdogs in the common currency area to collect more information on digital currency users.

Nasdaq announces blockchain-enabled media trading platform NYIAX

Nasdaq announced NYIAX (New York Interactive Advertising Exchange), which is the world’s first guaranteed advertising contract exchange, that will be deployed in the cloud and run on blockchain technology. The new exchange will operate on Nasdaq’s world-renowned technology and will leverage the Nasdaq Financial Framework architecture.

Blockchain firm releases Blockstack Core on Amazon Web Services

Blockstack, a New York-based blockchain company, has released a new fastsync feature with Blockstack Core v0.14.1 and announced that Blockstack Core is available on Amazon Web Services (AWS) Marketplace. In the new fastsync method, new nodes can boot up within minutes instead of days. Also, nodes can quickly fetch the latest state that are signed by current Blockstack developers from a remote node, and use it to sync with the network.

Japan’s BCCC to launch financial services sub-committee to boost blockchain awareness

Japan-based Blockchain Collaborative Consortium (BCCC) announced that leading companies that are promoting the use of blockchain technology have joined the consortium, expanding membership to the current 109 companies and organizations. A new Financial Services Subcommittee will be formed in March 2017 that aims to boost and create awareness on the potentials of blockchain among financial institutions, where blockchain adoption is rapidly growing.

Internet of Coins launches multiple blockchain ‘hybrid asset’

Non-profit cryptocurrency technology development organization Internet of Coins announced that it has launched a ‘hybrid asset’, a multi-blockchain token that enables transfer of value between blockchain systems without the need of any update or adaptation of existing cryptocurrency source code. The Internet of Coins also made a live demonstration of the transactional operating system and geographical user interface (GUI), which powers novel hybrid asset blockchain technology.

Bitcoin startup Coinbase to roll out four major changes

Leading digital currency startup Coinbase has announced a number of product changes that will be rolled out in the coming weeks. Coinbase product manager Ankur Nandwani listed four major changes which includes removing support for bits, diabling SMS account access, disabling user payment pages and network transaction fees. In addition, Coinbase will also discontinue support for user payment pages, effective March 21st, 2017.

Japanese Bankers Association to build platform for blockchain tests

The Japanese Bankers Association (JBA) said that it will build a platform for major and regional banks by the end of 2017, in order to conduct blockchain tests together. With the platform, small and major banks in Japan will explore and test blockchain technology for services like money transfers under the auspices of a trade group. The necessary regulatory advice and support during the tests will be provided by the Financial Services Agency and the Bank of Japan.

Bloq launches BloqLabs to link enterprises with open source blockchain projects

Blockchain technology provider Bloq announced the launch of BloqLabs in a move to connect enterprises with the expansion of its ongoing sponsorship and support of critical open source projects in the blockchain ecosystem. The company also revealed that it will be joining the Enterprise Ethereum Alliance (EEA).

Illinois’ financial regulator joins R3 blockchain consortium

The Illinois Department of Financial and Professional Regulation has joined the blockchain consortium initiative led by financial innovation firm R3 and has become the first state-level regulator to join the group. The Illinois Department of Financial and Professional Regulation will be collaborating with over 80 of the world’s largest financial institutions to develop groundbreaking commercial applications for the financial services industry that leverage the appropriate elements of distributed ledger technologies (DLT).

Alaskan lawmakers propose to bring bitcoin companies under money transmission laws

Alaskan lawmakers have proposed regulatory changes that would require certain businesses engaging in digital currency services to obtain money-transmission licenses. Introduced by state representative Zach Fansler and Sam Kito, House Bill 180 seeks to bring firms that exchange, store or transmit digital currencies such as bitcoin under the state’s money transmission laws.

40 firms come together for Blockchain Intellectual Property Council

The Chamber of Digital Commerce, a trade association dedicated to promoting digital assets and blockchain technology, has announced a new initiative that aims to address intellectual property issues relating to blockchain and distributed ledger technologies (DLT). Called the Blockchain Intellectual Property Council (BIPC), the initiative aims to promote innovation in DLTs. It will help balance the protection of proprietary information with the openness necessary for innovation.

Digital Currency/Blockchain research studies:

Canada could take the helm in blockchain revolution – Report

Criminal use of digital currency prevents law enforcement to ‘follow the money’: Paper

Banks should help build public blockchain ecosystem by collaborating with multinationals and consortiums – EY

Conferences/ Events:

BLOKTEX blockchain event to be held in Malaysia from 7 – 9 April

Important deals, partnerships, and more:

Blocko, Samsung SDS sign MoU for domestic and overseas blockchain joint venture

Purse teams up with BlinkTrade to drive bitcoin adoption

Blockchain startup BABB App, Contis enter agreement for licensing and banking infrastructure

Wolfram to bring blockchain to science and engineering with MultiChain integration

ING, SocGen plan to test blockchain for liquefied natural gas trading

Symbiont, Orebits partner to implement blockchain for digital gold ownership

Fintech startup INVICTUS collaborates with IBM to leverage blockchain and Bluemix technologies

Unocoin, ShapeShift team up to enable conversion of blockchain assets into bitcoin