UN goes all in on blockchain, lists various initiatives

United Nations Development Programme (UNDP) has delved into the world of blockchain and distributed ledger technologies and believes that the technology could provide a more effective way of transferring and tracking funds and lead to a shift in its strategy in line with latest developments in this field. UNDP has been collaborating with various blockchain-based companies to explore the potential of this innovative technology.

UK FCA warns users against OneCoin digital currency

Following the recent warnings issued by the Swedish Bitcoin Foundation against cryptocurrency OneCoin, the Financial Conduct Authority, a financial regulatory body in the UK, has also cautioned consumers against using this digital currency. The FCA emphasizes that it is concerned about the potential risks OneCoin poses to UK consumers, adding that those who deal with it will not be protected under Financial Ombudsman Service or the Financial Services Compensation Scheme.

Lawmakers announce new bipartisan Congressional Blockchain Caucus

Two US congressmen – Jared Polis, a Democrat from Colorado, and Mick Mulvaney, a Republican from South Carolina – have announced the formation of a new bipartisan Congressional Blockchain Caucus that will focus on the advancement of sound public policy toward blockchain-based technologies and digital currencies.

Multitude of different blockchain approaches could jeopardise financial market integration – ECB

A member of the Executive Board of the European Central Bank has said that distributed ledger technologies (DLTs) have the potential to transform the securities and payments industry and that the ECB is exploring its potential use cases. Yves Mersch warned that increasing number of different DLT approaches could be detrimental to financial market integration.

Standard Chartered completes real-time cross-border payment using blockchain technology

Multinational banking and financial services company Standard Chartered has announced the completion of the first real-time cross-border payment for businesses with another major correspondent bank using distributed ledger technology (DLT). The pilot leveraged Ripple’s enterprise blockchain solutions and completed the cross-border payment in less than 10 seconds with full transparency of fees and FX, as compared to two days currently.

Paxos, Euroclear develop blockchain settlement service for gold market

Paxos, a fintech company delivering blockchain solutions for the financial services industry, has announced that it is working with Euroclear, one of the world's largest settlement houses, on the development of a blockchain settlement service for the gold market, called Euroclear Bankchain.

Credit Suisse, R3, Ipreo and Symbiont demonstrate blockchain potential for syndicated loan efficiencies

Credit Suisse, a Switzerland-based financial services company, announced that along with R3, Ipreo and Symbiont, it has completed successful initial stage of a project to demonstrate how blockchain technology can be used to improve the syndicated loan market.

Digital Currency/Blockchain research studies:

• Bitcoin remains currency of choice for much of cybercrime – Europol
• Most banks see blockchain solutions in production in next 3 years: IBM Survey
• CAF explores impact of blockchain on regulation of civil society organizations

Conferences/ Events:

• Stanford conference to address on security risk in blockchain protocols
• SEC’s November fintech forum to discuss blockchain technology

Important deals, partnerships, and more:

• Sberbank joins Hyperledger blockchain project
• Cryptocurrency Dash collaborates with Coinfirm for AML/KYC compliance
• Chamber of Digital Commerce, 1776 partner to launch DC Blockchain Center
• Russian and South African CSDs team up on distributed ledger technology
• Microsoft and Bank of America Merrill Lynch partner to transform trade finance transaction using blockchain
• Hyperledger blockchain project adds five new members
• Sompo Holdings and Soramitsu collaborate to test use of blockchain for derivative products
• Coincheck and E-net Systems partner to enable bitcoin payments for utility bills in Japan

Fundraising

• Indian bitcoin startup Unocoin raises $1.5M in pre series-A round
• Mexican bitcoin exchange Bitso raises $2.5m
• New eSports cryptocurrency ‘eBoost’ crowdfunding raises over 150 BTC
• Blockchain-powered ICONOMI raises $5.8m in ICO, crowdsale ends on 29th September
• Scalable blockchain database firm BigchainDB raises over $3 Million in Series A