The central banks of Canada and Singapore announce this week an unprecedented milestone. As the world’s first state-owned financial institutions, they are celebrating the joint premiere of their blockchain-based payment system for cross-border transactions. They also publish the joint cooperation of their respective blockchain systems Jasper and Ubin in a joint report. This should promote the further development of the technologies, especially by central banks and monetary authorities.
Constantly fluctuating exchange rates, different administrative systems worldwide, a flood of regulations and regulations – there are many hurdles to settling payments across national borders. The result: Often such transactions not only require extremely long processing times. In addition, payments from one country to another are often extremely expensive.
The central banks of Canada and Singapore, the Bank of Canada (BoC) and the Monetary Authority Singapore (MAS), have jointly declared the problem of this problem. Since 2016, they have been developing Blockchain solutions to make cross-border payments cheaper, faster and more secure.
Asset Backed Securities, ABS for short, were responsible for the financial crisis. As early as the beginning of 2000, American banks began bundling real estate-backed bonds with high probability of default with other bonds and bundling them into intransparent packages. The result is well known. Well, in 2019, the first ABS will start on a token basis. Will there be a bursting of a mortgage bubble this time as well?
Just like the few of us today still buy a CD, but download the music in a purely digital form as an MP3 file or listen directly to Spotify, also changes the medium of securities. Physical documents become digital tokens, ergo security tokens. Accordingly, each security that is currently held in the form of a deed at central securities depositories will in future be kept in custody via a blockchain. The more efficient medium to securitise and exchange property replaces a less efficient medium.
The London-based fintech company Zeux wants to make future payments with the cryptocurrency NEO. The goal is to give customers the opportunity to pay with cryptocurrencies in the business.
As the start-up Zeux recently announced on Medium, users of the Zeux App will in future have the opportunity to pay for goods via Apple or Samsung Pay. The company integrates all services on one platform. The Zeux app provides each user with a digital bank account and digital wallet addresses. This is to enable customers to make payments in all transactions and to purchase a range of investment products from various financial institutions. It also claims that the Company does not charge any fees for opening an account, transferring funds, charges, withdrawals or payment fees. The London FinTech is authorized by the British Financial Market Authority.
Send me Bitcoin and I’ll tell you who you are? If you make a transaction in Bitcoin, the recipient will be informed of the address from which the Bitcoin came. The payment and the recipient’s address are stored together with the amount on the blockchain. With simple means can then determine how many Bitcoin are on the payment address. One of many solutions in this very heated debate is bestmixer.io.
About anonymity, paranoia and the desire for more serenity.
Information is the gold of the third millennium. In our small country you get the impression that the account balance and the income are among the most sensitive data of a person. But this information is anything but in our hands, whether we like it or not. For investigative agencies, for savvy hackers and for intelligence agencies, finding out about a person at the local savings bank is not a big challenge. In the Bitcoin ecosystem, there is some hysteria about the glassiness of the blockchain. Apart from the fact that one operates in the Bitcoin network under one or more pseudonyms, there are many solutions for improved privacy and anonymity. The most promising one is probably the Lightning Network, which until now has only limited practicality. An already working solution represents the platform bestmixer.io.
Bitcoin can now also be purchased at the vending machine in selected locations within Germany. After some legal difficulties, the operators decided to set up the machines after all.
One or the other may still remember: Bitcoin machines have not had it easy in Germany so far. Some brave pioneers have already tried to exhibit; However, they had to switch them off again at the direction of the Federal Financial Supervisory Authority (BaFin). In October last year, however, the Berlin Court of Appeal ruled that BaFin had exceeded its powers. In other words: Bitcoin trading is not punishable.
A new indictment leads to findings in the case of the Bitcoin exchange Bitfinex. So this depends on a service provider with the Canadian stock exchange QuadrigaCX: Crypto Capital. The US judiciary is now taking its operators to court for illicit banking
The Bitcoin ecosystem struggles again and again with trust reversals. Recent entanglements between the Bitfinex Stock Exchange and the Stable Coin provider Tether Limited have cast serious doubt on their credibility. Now there are new insights: One of its service providers, Crypto Capital, connects them to the Canadian stock exchange QuadrigaCX.
The auditing firm KPMG joins the Trusted IoT Alliance. Verbund is working to link Blockchain and IoT to pave the way for Industry 4.0.
With the auditing firm KPMG, the Trusted IoT Alliance receives prominent reinforcement from a “Big Four” company. As KPMPG LLP announces in a press release, it hopes to leverage the synergy effects of the two technologies by working with blockchain industry and Fortune 500 companies.
The FinTech Council of the German Federal Ministry of Finance considers a referral of the Federal Government with the Blockchain regulation overdue. In an opinion on the blockchain strategy of the Federal Government is present, the experts demand a regulation by eye. It is important to understand the enormous potential of the technology without neglecting the very real risks. And that’s better yesterday than tomorrow.
It is provoking something in the German blockchain regulatory landscape. The Federal Ministry for Economic Affairs and Energy (BMWi) has concluded a public consultation with the Federal Ministry of Finance (BMF) on the development of a blockchain strategy. Between February 20 and March 29, associations, companies and organizations had time to share their positions and recommendations with ministries.
Among other things, the FinTechRat of the German Federal Ministry of Finance participated in the survey, for which www.blockchain-strategie.de has its own homepage. On 19 pages, the panel of experts made it clear why the development of a coherent blockchain strategy was long overdue. In addition to representatives of the classic financial world and the fintech industry, FinTechRat also includes well-known blockchain experts such as Prof. Dr. med. Philipp Sandner, head of the Frankfurt School Blockchain Center.
Blockchain vs. Internet – Where is the revolution? Searching for traces in the history of the Internet and a decentralized technological future.
Although it is partially forgotten today, the beginnings of the Internet are in many ways reminiscent of the developments we see today in the blockchain industry. By that I do not mean the often addressed hype cycle of the burst bladder and the subsequent resurrection. Rather, I mean the ideological and infrastructural similarities.
In the early years of the Internet, a dedicated and idealistic developer community created open protocols. These protocols (such as TCP / IP, HTTP, SMTP) promised a simple exchange of information at the global level. To this day, they are the foundation of the Internet.
Japanese Bitcoin Exchange Liquid.com has opened two offices in the US. As a joint venture with Virtual Currency Partners, “Liquid USA” is expected to start trading in 2020.
Coinbase & Co. Receive Overseas Competition: Liquid.com, Japan’s largest regulated Bitcoin exchange, is tackling the US market. For this purpose, the Holding Company of Liquid founded with the crypto-consortium Virtual Currency Partners (VCP) a joint venture under the name Liquid Financial USA Inc. (short: Liquid USA). Liquid announced on April 29 in a press release. The expansion follows a successful fundraising, in which also the mining hardware manufacturer Bitmain played a significant role. With the expansion overseas Liquid wants to meet the needs of customers, explains CEO Mike Kayamori:
“The US is one of the world’s largest cryptocurrency markets, and our community, corporate and institutional clients have expressed an interest in serving the US market.
The chief decentralized officer of the Taiwanese electronics manufacturer HTC announces the successor to the successful blockchain smartphone HTC Exodus One this year. In addition to the well-known features such as a crypto-wallet HTC wants to expand the repertoire of his blockchain application for the new device even further.
Only in October last year, the HTC Exodus One came on the market. The smartphone of the Taiwanese electronics manufacturer is the first device in its class to have a blockchain on which users can store Bitcoin & Co. The idea: giving users more sovereignty over their data. Finally, the blockchain is stored on a separate area on the HTC Exodus One and thus remains disconnected from the Android operating system.
The Bitcoin course and Ether course get company. In the future, Nasdaq will index the ripple price. This is happening as the United States’ largest electronic stock exchange teamed up with Brave New Coin’s blockchain analysts.
Nasdaq plans to replicate the XRP price in real time in the future. As the company officially announces, the “XRP Liquid Index” will in future show in real time what the price for an XRP is in US dollars. The company wants to refer to the data resulting from their “highly liquid” markets.
Nasdaq works with IOSCO compliant procedures
As Nasdaq further states, it uses an independently verified procedure that complies with the IOSCO principles for mapping the ripple course (XRP). That’s how the ripple course gets in the best of company. As part of previous indexing, the electronic exchange already listed the Bitcoin price and the Ether price
Jaguar and Land Rover riders can soon earn MIOTA in the car. The largest British car manufacturer Jaguar Land Rover announces the integration of a so-called Smart Wallet. The announcement is followed by a veritable price-pump.
As autonomous driving gets closer, the communication between the vehicles becomes more important. For traffic data such as congestion information could automatically replace cars in the future. This should be conducive to the flow of traffic and reduce congestion.
But it is still a long way to go until self-driving cars dominate the roads. Traffic data, however, does not necessarily have to be automatically transmitted by machine. Finally, the drivers themselves could send traffic jams or information about the road conditions on certain sections to other road users.
The Russian Ministry of Economic Development is starting to test cryptocurrencies in four selected regions. The Regulatory Sandboxes, which include Moscow, are licensed to test products using blockchain, AI and robotic technology. Meanwhile, neighboring Finland also passed its first regulation on cryptocurrency trading.
Russian news site Izvestia reports that Russia is preparing to test new technologies, including cryptocurrencies and blockchains. In so-called “Regulatory Sandboxes” in four regions of the country, an experimental development of new technologies takes place under special economic and legal conditions.
In the future, companies in Moscow, Perm Krai, Kaluga Oblast and Kaliningrad Oblast will be able to test the application of future technologies in the experimental special economic zones. In addition to crypto and blockchain, neuro and quantum technologies, AI, robotics and VR are among the novelties that the government is giving the green light to.
With the recent price increases, the hope returned that the bottom would be reached. Can this actually be confirmed? Not all Bitcoin enthusiasts share this opinion.
If you look through the virtual forest of leaves, sometimes you get the impression of a very simply knitted world. Those who believe in Bitcoin, of course, are on the side of the cops. The ground has already passed and we all can look forward to the upcoming bull market.
From this assumption, some conclude that every bear is a Bitcoin critic. Of course, one can agree with that: anyone who thinks that Bitcoin is a rat poison that would fall back to zero certainly takes a bearish view on the Bitcoin price.
But how is the world knitted in the short to medium term? Is every Bitcoin fan convinced that the bottom has been reached?
A good week ago there was a discussion on this topic between different Bitcoin enthusiasts. Tone Vays discussed with Leah Walds and Tyler Jenks of Lucid Investment Strategies, Venzen Khaosan of Cryptocurrents, Murad Mahmudov, Willy Woo, David Puell and finally Tuur Demester, the latter of Adamant Capital. Those who have plenty of time are the whole
So far, most corporate messages have been similar to Blockchain adaptation. Most pilot projects were carried out on private blockchains. Typical use cases are the tracking of supply chains, the settlement of securities transactions or the execution of smart contracts to make processes more efficient. Now a second wave of corporate blockchain use cases is approaching us. Why this is more of a tsunami and affects each and every one of us directly.
The previous blockchain projects of major banks, energy service providers or logistics companies were primarily aimed at optimizing their own infrastructure and value chain. That’s why many of these companies have joined forces to conduct stakeholder transactions and make them more efficient using blockchain features. For the private end customer it was practically never, but above all about their own background processes.
Currently, however, a second wave of corporate applications is approaching us. This time the end customer is in the foreground. It’s about concrete blockchain services and cryptocurrencies for the end user and not for the company’s own value chain – Blockchain goes B2C. The corporations that bring about this change are, however, in part new players whose business model deviates significantly from the previous blockchain pioneers.
Vulnerability in the Lightning Network, upgrade highly recommended
The developers of the Lightning Network recommend an immediate upgrade to version 0.11 or higher.All node operators of the Lightning Network who are using an LND version from before October 1st are asked to immediately upgrade to version 0.11.The reason for this is that a security hole was found in LND version 0.10, which also affects all versions before that.
The corresponding security hole was communicated on October 9th by Lightning developer Conner Fromknecht.In this regard, he explains:
“Although we have no reason to believe that this vulnerability is already being exploited, we urge the community to immediately update to LND version 0.11 or higher.”
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Everything you need to know about the Lightning Network ⚡.
Satoshi himself proposed the first version of payment channels . The Lightning Network paper has zero authors from Blockstream . At least two other entirely independent companies are working on Lightning Network implementations . It’s well understood how trustless LN transactions work . The spec  and code are open source, feel free to look for a “backdoor”.