Tag: Blockchain

Singapore’s Central Bank, Stock Exchange Settle Tokenised Assets on a Blockchain

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Twitter Facebook LinkedIn In a blockchain breakthrough, Singapore’s central bank and the country’s primary stock exchange have successfully developed an automated method for rapid settlements of tokenized assets. In an announcement on Sunday, the government of Singapore announced the successful development of a Delivery versus Payment (DvP) mechanism – powered by smart contracts – for settlement of tokenized assets over different blockchain platforms. As reported by CCN in August, the joint endeavor was built upon the blockchain developed by the central bank’s effort to tokenize the Singaporean dollar into a…

Korean Lawyers Urge Government to Draw Up Blockchain Rules

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The body governing South Korean lawyers has called on the government to hasten the introduction of blockchain regulations. According to a report from Reuters on Thursday, the Korean Bar Association said the government should “quickly” develop blockchain laws in the country to help develop the tech industry and protect investors. Kim Hyun, president of the Korean Bar Association, was quoted as saying: “We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.”…

Malaysian Government, Universities Team to Put Degrees on a Blockchain

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Malaysia’s education ministry has formed a new consortium of universities to harness blockchain tech in tackling the massive industry in fake certificates. The Ministry of Education announced in a press release posted on Twitter Thursday, that alongside the new consortium of six universities, it has launched a blockchain-based system called e-Scroll for the issuance and verification of university degrees. The solution, it said, was prompted by a rise in cases of fraudulent degrees and the ease with which they can be obtained over the internet. Citing a BBC Radio report describing…

ConsenSys’ Kaleido, Amazon Web Services Launch ‘Blockchain Marketplace’ for Enterprises

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ConsenSys’ blockchain startup Kaleido and Amazon Web Services (AWS) have launched a full-stack platform that helps enterprises implement blockchain solutions, according to a press release published Nov. 8. The platform, dubbed Kaleido Marketplace, reportedly “eliminates 80 percent of the custom code” needed to build a given blockchain project by providing an array of full-stack tools and protocols that are “plug-and-play,” spanning needs from back-end development to front-end app user interfaces. According to the press release, Marketplace clients can access native integrations with AWS cloud, as well as swiftly implement solutions…

Drug Barons, Rogue States and Terror Groups Use Banks – Can Blockchain Stop Them?

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  Scathing reports by regulators have accused traditional banks of inadvertently helping “drug kingpins and rogue nations” – enabling them to commit money laundering, make questionable transfers and evade economic sanctions and taxes. It is a problem that dates back decades. Indeed, an article in The New York Times from 1989 estimated that $100 billion in revenues from cocaine sales in the US alone were ending up in the hands of a violent drug cartel in Colombia. The advent of electronic wire transfers was to blame, with one politician warning:…

Scaling-Focused Blockchain Platform MultiVAC Claims ‘Breakthrough in Sharding’

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Blockchain platform MultiVAC has claimed it has reached a “breakthrough” in the blockchain scaling technology sharding, according to a press-release Nov. 5. According to the company’s release, MultiVAC reported achieving 30,784 transactions per second (TPS) using 64 shards. While the total amount of transactions for all shards used exceeded 30K at its peak, a single a shard was claimed to reach 533 TPS. MultiVAC also claimed in the release that their “all-dimensional sharding expansion solution” could potentially be used for large-scale commercial applications, as well as for crypto mining on…

Malaysia’s Education Ministry Sets up University Degree Verification System via Blockchain

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The Ministry of Education (MoE) of Malaysia is establishing a University Consortium to combat degree fraud using blockchain, the ministry announced in a tweet Nov. 8. According to the ministry’s tweet, the system is designed to issue and verify the authenticity of university-issued degrees. The new government-backed consortium will initially be comprised of six public universities and their diploma-verifying system is set to operate using the NEM (XEM) blockchain. According to the ministry, the new system was developed by a team led by a professor from the International Islamic University…

Singapore Exchange Successfully Trials Blockchain for Tokenized Assets Settlement

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Singapore Exchange Limited (SGX), along with the Monetary Authority of Singapore (MAS), have successfully tested the use of blockchain technology for tokenized assets settlement, according to a SGX release issued Sunday, Nov. 11. The report reveals the data on the trial that began in August, shortly after MAS and SGX had partnered with U.S. stock market Nasdaq, “big four” consulting company Deloitte, and Singaporean tech company Anquan. As per the release, the partners have developed a blockchain-driven solution for Delivery versus Payment (DvP) capabilities — a settlement procedure where the…

Blockchain Advocates Storm Governors’ Mansions and Retain House Seats in US Midterm Elections

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Every four years in November, about halfway into each presidential term, voters in the US head to the polls to fill 36 state governor seats, all 435 seats in the U.S. House of Representatives, and about one-third of the 100 US Senate offices. Widely considered a referendum on a sitting president, midterm elections often produce power shifts in Congress, especially if the head of the executive and his party are not particularly impressive early in the term. This time, Democrats were full of hopes to summon a ‘Blue Wave’ and…

BBVA and Co-Lenders Complete $150 Million Syndicated Loan on a Blockchain

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Twitter Facebook LinkedIn Two European and one Japanese bank one have completed the first blockchain-based syndicated loan. Together with France’s BNP Paribas and Japan’s Mitsubishi UFJ Financial Group, Spain’s banking behemoth BBVA utilized a private blockchain network in arranging a syndicated loan amounting to US$150 million for grid operator Red Electrica. Initially reported by the Financial Times, legal advisers were also granted access to the private blockchain network allowing instant exchange of information among all the parties to the deal. According to BBVA, the blockchain pilot is proof that distributed…