BoE explores implications of blockchain and central bank-issued digital currency

The Bank of England has embarked on a multi-year research programme to explore the implications of a central bank issued digital currency (CBDC). This has been revealed by Victoria Cleland, Chief Cashier at BoE, during the 2nd International Workshop P2P Financial Systems 2016. Cleland mainly spoke on the latest wave of fintech activity with particular focus on distributed ledger technologies (DLT) and CBDC.

HKMA to launch fintech innovation hub to test blockchain and other technologies

The Fintech Facilitation Office (FFO) of the Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Applied Science and Technology Research Institute (ASTRI), will launch the “HKMA-ASTRI Fintech Innovation Hub” – a new facility to support research and adoption of fintech by the industry.

Coin Center urges ESMA to avoid writing-off open blockchain technologies

Coin Center, a non-profit research and advocacy center focused on the public policy issues facing open and decentralized blockchain technologies, has urged European Securities and Markets Authority (ESMA) to avoid writing-off open technologies. The comment comes as a response to the ESMA’s discussion paper entitled, “The Distributed Ledger Technology Applied to Securities Markets”.

China looks to blockchain technology for social security funds

China is considering implementing blockchain technology for its social security system. China Daily reported that vice-chairman of the National Council for Social Security Fund Wang Zhongmin has recently stated: "There's no doubt that blockchain technology will be used in the social security system because of its valuable applications in the investment and management of social security funds," he said, adding that the technology can enable people to trade freely and lower transactions costs.

Krypton ditches Ethereum for bitcoin proof-of-stake blockchain

New smart contract and distributed apps platform Krypton has announced that it is abandoning Ethereum-based blockchain after 51% attack. Stephanie Kent, Krypton’s founder, made the announcement in an online post. She explained that the Krypton blockchain was hacked twice last week by an anonymous group “51 crew”, adding that Shift chain was also attacked.

Blockchain conferences/events:

Ethereum, Thomson Reuters, Barclays and others come together for blockchain hackathon

EY Startup Challenge selects six blockchain entities

Digital Currency/Blockchain research studies:

Bitcoin puts entire business model of credit and debit card companies at risk: Santander

Paper calls for Scottish cryptocurrency to position Scotland as a digital hub

Bitcoin mainly used as a speculative investment rather than medium of exchange: Swift research

Netherlands plays prominent role in drug trade facilitated by cryptomarkets: Report

Banks must develop systems necessary to maximize positive effects of central bank issued digital currency: PBoC Vice Governor

Important deals, partnerships, and more:

Chamber of Digital Commerce adds Cognizant to Executive Committee

Chinese multinational conglomerate Wanda Group joins Hyperledger blockchain project

Nxt Foundation becomes first alternative cryptocurrency foundation to join Hyperledger project

Barclays and Wave execute blockchain-based global trade transaction

BNP Paribas’ new fintech lab to focus on blockchain, AI and big data

Brazilian exchange latest to join R3 blockchain consortium