Vitalik Buterin reveals Ethereum technical development roadmap

Ethereum founder Vitalik Buterin has revealed a long-term roadmap for ethereum's technical development, particularly addressing the issue of scalability, CoinDesk reported. Speaking at Devcon, Buterin proposed “sharding” along with other technical changes to Ethereum. As storage costs are likely to increase exponentially with the expansion of the system, he highlighted the need for solutions that would help mitigate such costs.

U.S. Department of Energy’s research lab explores blockchain potential

The Pacific Northwest National Laboratory (PNNL), a U.S. Department of Energy (DOE) national laboratory located in Washington, is exploring blockchain application in the management of next-generation power grids, CoinDesk reported. Carl Imhoff, a manager at the PNNL, said that the research lab applying advanced science and technology cyber resilience concepts as it explores new power system paradigms that are inherently resilient and adaptive.

All tokens or cryptocurrencies are securities: New Zealand’s FMA

New Zealand’s Financial Markets Authority (FMA) has published commentary on initial coin offerings (ICOs) and cryptocurrency related services. “All tokens or cryptocurrencies are securities under the FMC Act [Financial Markets Conduct Act 2013] – even those that are not financial products. A security is any arrangement or facility that has, or is intended to have, the effect of a person making an investment or managing a financial risk.”

European Commission to spend €1.7B on digitization, touts AI and blockchain as breakthrough innovation

The European Commission has outlined its plans to spend €30 billion of the EU research and innovation funding programme Horizon 2020 during 2018-2020. The budget details show that the Commission is planning to spend €1.7 billion for digitising and transforming European industry and services. "Artificial Intelligence, genetics, blockchain: science is at the core of today's most promising breakthrough innovations,” Carlos Moedas, Commissioner for Research, Science and Innovation, said.

MAS to develop DLT solutions for inter-bank payments and trade finance

The Monetary Authority of Singapore (MAS) has released a roadmap for making Singapore a leading global financial center in Asia. It said that it will (among other things) “facilitate and invest in R&D to develop new solutions, including the use of distributed ledger technology for inter-bank payments and trade finance.”

Cryptocurrencies not raising serious regulatory issues: RBA

The use of bitcoin and other digital currencies as a payment method is relatively limited in Australia and do not raise any pressing regulatory concerns at the moment, the Reserve Bank of Australia (RBA) officials said recently. The RBA, however, remains optimistic about the underlying blockchain and distributed ledger technologies.

Banque du Liban reveals plan to launch digital currency

The Banque du Liban (BDL) is planning to launch its own digital currency, the central bank governor said recently, as reported by Thomson Reuters Zawya. Governor Riad Salameh said: “We understand that electronic currency will play a prominent role in the future. But BDL must first make the necessary arrangement before taking this step and develop [a] protection system from cybercrime.”

State Bank of Vietnam bans cryptocurrencies

In a recently issued statement, the State Bank of Vietnam (SBV) has prohibited the issuance, supplement, and use of bitcoin and other cryptocurrencies for legal payment in the country, Vietnam News reported. The recent announcement is in line with the Prime Minister’s direction to develop a regulatory framework for cryptocurrencies. The central bank has finalised and submitted this framework to the government.

Regulatory efforts on ICO

US SEC warns against celebrity ICO endorsements

Japan’s FSA cautions against ICOs

Research Studies:

Deloitte outlines six principles for blockchain in financial services

25 pct of Global 2000 firms to use blockchain services as foundation for digital trust at scale by 2021: IDC

Investments/Acquisitions/ Fund-raising:

Disney-developed blockchain platform Dragonchain raises $13M in ICO

Consortium News, Partnerships and More:

European researchers join IC3 blockchain initiative

NRI, Microsoft Japan launch financial innovation consortium - focus on AI, deep learning, blockchain

Bitcoin startup Airbitz rebrands as ‘Edge’

Former CFTC chairman to chair newly launched Blockchain Patent Sharing Alliance

Digital Currency and Blockchain Initiatives:

State Bank of India to implement blockchain solution for KYC management

R3 and 22 member banks develop DLT solution for international payments

CME Group to launch bitcoin futures in Q4 2017

11 South Korean securities firms to trial blockchain-based security platform

VEB, Roseltorg join forces on blockchain-based project

GMO Internet enters sixth phase of GMO Blockchain Open Source Software Project

SBI Holdings seeks to create cryptocurrency-based financial ecosystem

Cyprus financial regulator to use blockchain technology

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