OKEx will List HederaHashgraph (HBAR), a New Generation of Distributed Ledger Technology

Malta, 10 Sep 2019 – OKEx, a world-leading digital asset exchange, announced a new listing of Hedera Token (HBAR), the native cryptocurrency of the Hedera public network, HederaHashgraph – a distributed ledger technology project, on September17, 2019.
HederaHashgraph has taken the recent spotlight on the distributed ledger space with a combination of 39-independent-member of governance council across multiple industries and geographies to ensure the network will be governed and the needs of mainstream markets will be addressed. Hedera demonstrated its distributed ledger technology in “lightning fast, fair, and secure” manner to the forms of service which include crypto-micropayments, file storage, and contracts.
OKEx’s listing review process sets a high standard in many aspects, including important pillars ranging from project quality (i.e. (legal) qualifications, business model and structure, promotion, etc.) to project community (i.e. ecosystem-wise capacity and promotion opportunity). By taking every possible measure, OKEx strives to ensure every listed project delivers practical use cases and brings in market liquidity.
“Hedera and OKExshare the same goal of building a trusted, safe, and fair digital future for everyone through developing a neutral, open-access infrastructure. With such a powerful, enterprise-grade ledger technology, we believe it is a big step forward in mainstream adoption of decentralization. We are excited to join hands with Hedera team to continue to explore the technological breakthrough and lead this industry forward,” according to OKEx official.
About Hedera
HederaHashgraph is a public distributed ledger that maintains the highest standards of performance, fairness, and security for decentralized applications at internet scale. The Hedera proof-of-stake public network, powered by Hashgraph consensus, achieves the highest-grade of security possible (ABFT), with blazing-fast transaction speeds and incredibly low bandwidth consumption. The Hedera Governing Council consists of up to 39 term-limited and highly diversified leading organizations and enterprises, reflecting up to 18 unique industries globally. By combining high-throughput, low fees, and finality in seconds, Hedera leads the way for the future of public ledgers.
About OKEx
OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital asset trading services including fiat-to-token trading, spot trading, futures trading, and perpetual swap trading to traders globally with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.
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Source: CoinGape

IOTA Gains above 10% After ‘Coordicide’ Update; Will the Price Increase Further?

IOTA breached another yearly high on 29th May 2019 as the price gained about 10% on a daily scale. The price of IOTA at 4: 37 Hours UTC on 29th May 2019 is $0.473. It is trading just below the six-month support level near $0.47.
IOTA/USD 1-Day Chart on Binance (TradingView)
IOTA Announces a ‘Feeless Decentralized DLT Platform’
The rise can be attributed to the recent update on IOTA labeled as ‘coordicide’ or the death of the coordinator. It includes all kinds of validating nodes with miners and stakeholders. IOTA has introduced a permissionless and scalable Distributed Ledger Technology.
According to the claims of the non-profit organization behind IOTA, the adoption and evolution of the DLT are not influenced by miner gains or corruption. Moreover, the new protocol implements fee-less transactions. Hence, it enables micro-payments, and information and data sharing between machines.
IOTA’s Distributed Ledger Platforms aims at providing a new generation of a blockchain application that is fast and free to use. Nevertheless, the feeless model creates doubt about its fundamental intrinsic value. At the same time, increased adoption of IOTA due to the technical prowess will affect the price positively due to limited supply.
Price Analysis
Technical Analysis suggests that the bull run might continue if IOTA breaks above the current Resistance and support level. The MACD on the four-hour, daily, and weekly chart suggests bullish divergence. However, the RSI is near the over-bought region, indicating a pullback.
IOTA/USD 1-Day Chart Analysis (TradingView)
The 50 and 100-Day Moving Average also moved above the 200-Day Moving Average on a daily scale which is also a bullish indicator. A bullish target of $0.72 is on the cards but stop losses must be placed below $0.38.
Furthermore, Bitcoin’s dominance and influence over the prices on cryptocurrencies is considerable. Hence, the traders and hodlers should also watch out for BTC price movements.
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Source: CoinGape

Canada and Singapore Test Central Bank-backed Cryptos for Cross-Border Payments

Canada and Singapore Test Central Bank-backed Cryptos for Cross-Border Payments
The Bank of Canada and the Monetary Authority of Singapore (MAS) have announced successfully conducted transfers of central bank-backed cryptos using blockchain.
Canada and Singapore Test Central Bank-backed Cryptos for Cross-Border Payments

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Source: CoinSpeaker

eToroX Launches Crypto Exchange Including Suite of Unique Stablecoins

eToroX Launches Crypto Exchange Including Suite of Unique Stablecoins
eToroX announced the launch of its crypto exchange.
eToroX Launches Crypto Exchange Including Suite of Unique Stablecoins

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Source: CoinSpeaker

Ripple, Circle, JP Morgan all Using DLT Technology for Cross Border Payments: World Bank

Distributed ledger technologies currently possess all the necessary features that can ease the pains of cross border remittance industry which have made it a topic of discussion for institutions across the globe whether are these the future. A recent blog post released by World Bank also discussed the same naming how Ripple Circle and JP Morgan are bringing DLT to use in cross border payments.
World bank questions “Is the future of cross-border payments distributed?”
Rodrigo Mejia-Ricart, a research and public policy analyst at the Better Than Cash Alliance, a UN-based partnership of over 60 governments, companies and international organizations, recently released a blog post for World bank that discussed how distributed ledger technology is bringing the world closer by easing the pains of the traditional global remittance industry – by making it quick, easy and less expensive.
The remittance is critical economic resources in emerging economies, helping vulnerable populations withstand adverse economic conditions. The magnitude of the industry is huge and has reached $613 billion in 2017 and are projected to have grown 4.6% in 2018 to a record high of $642 billion. Putting it in perspective global remittances represent four times more than total official development assistance globally, which in 2016 reached $158 billion. For emerging economies, the personal remittances numbers are quite huge for eg it is 10.5% of GDP in the Philippines, 13.7% in Senegal, 28.3% in Nepal and 29.3% in Haiti.
A post discussed that how cross border payment innovations are helping reduction in operational costs for remittances services provides and speaks about how Ripple, Circle, JP Morgan, and Swift are bringing DLT to use too. Quoting for from the report how each of the players has impacted the industry for its betterment.

Ripple: Ripple’s xRapid has saved financial institutions which are involved in the pilot up to 40%-70% in foreign exchange costs, and the average payment times was just over two minutes. The transfer of funds on xRapid took two to three seconds, with most of the processing time explained by domestic payment rails and intermediary digital asset exchanges.
Circle: Circle’s Circle Pay service is currently available in 29 countries and allows seamless transfers between US Dollars, British Pounds, and Euros. Their website reports that they charge zero fees and zero exchange rate markups.
SWIFT: SWIFT has implemented Global Payments Innovation (GPI), aimed at dramatically modernizing B2B cross-border payments by making them faster and more transparent.
VISA: Visa’s B2B Connect is testing a DLT solution for B2B cross-border payments.
JP Morgan: JP Morgan is trialing a DLT application that provides messaging, validation and foreign exchange pricing services to improve the customer’s cross-border payment experience. JP Morgan also developed JPM Coin, a digital coin designed to make instantaneous payments using blockchain technology.

The blog concludes that DLT-based cross-border payments potentially offers a promising pathway to dramatic improvements in the lives of millions of people in emerging economies. This technology has the potential to improve the traceability of remittances and reduce compliance costs for MTOs and supply chain payments, stimulating economic activity in destination countries.
Will DLT be the future of cross border payments? Do let us know your views on the same.
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Source: CoinGape

SEC Announces a Public Forum to Discuss Cryptocurrencies and Blockchain Technology

The Securities Exchange Commission of the US will host a ‘public forum’ to discuss digital assets like Bitcoin and other cryptocurrencies, and the underlying Distributed Ledger Technology (DLT).
SEC Press Release
The announcement was made through a press release on 15th March 2019. The public forum will be administered by the agency’s Strategic Hub for Innovation and Financial Technology (FinHub).
The FinHub public forum will be hosted at the SEC Washington DC’s Headquarters on May 31, 2019; the event will be streamed live on the SEC’s official website.
Topics of Discussion
The forum will host major FinTech leaders and people for academia. The goal of the forum is to foster greater communication and understanding around issues involving DLT and digital assets like Bitcoin and other cryptocurrencies.
The Press Release included:
Panelists will explore such topics as initial coin offerings, digital asset platforms, DLT innovations, and how these technologies impact investors and the markets.
SEC has already cleared its stance considerably and put a hold to illegal and unregulated Initial Coin Offerings. In a recent letter addressed to the legislative body, the SEC chairman outlined the updates on the regulatory improvements applied to cryptocurrencies and their approach in the future.
The Bitcoin ETF proposal also rests with the SEC. Hence, their take on DLT and digital assets especially Bitcoin is paramount to the success of DLT and cryptocurrencies. An Exchange Traded Fund licensed by the SEC would open doors for a plethora of derivates contracts and open the floodgates for financial institutions.
Since the US is the largest economy of the world, SEC’s approval or disapproval sets an example for other countries as well, especially the weaker economies.
What other outcomes do you expect from the forum? Please share your views with us. 
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Source: CoinGape

Swift chooses R3 over Ripple and XRP Flash Rise Based on Hyped Fundamentals?

Earlier today at the Paris Fintech Forum, Swift CEO, Gottfried Leibbrandt announced integration with R3. He said,
“we are announcing later today a Proof-of-Concept with R3 blockchain on trade, where you can initiate a payment on the trading platform, and then it goes into GPI. So we’re exploring interconnectivity with a lot of things.”
Swift is an 11,000-member global payments network that has established a global empire for cross-border payments. XPR gained 11.15% with a flash price rise from 0.288 to 0.319. RippleLabs and R3 have for long coveted a partnership or rather take-over of payment channel from Swift using the DLT platform.
The integration is nevertheless excellent news for XRP HODLers. Brad Garlinghouse, the chief executive of Ripple, a fierce competitor to R3 was also attending the conference who noted that
“I hear people talk about volatility and I feel like they’re propagating this misinformation,” he said. “Mathematically, there’s less volatility risk in an XRP transaction than there is in a fiat transaction.”
30-minute XRP/USD chart on Bittrex
Price Analysis of the Sudden Rise
The charts reveal that there was a ‘fundamental’ push in the price. The gap along with Volume rise signifies sudden market action because of positive news. However, a look at the RSI index – 75 in the same graph, the charts suggest oversold conditions. The 1-D chart indicates that if the price breaks the $0.34 resistance, then an upside towards $0.40 is on the cards.
Volume Rise Momentary Or Trend Reversal next? 
The massive global XRP community HODLing their XRP’s are long awaiting an XRP bull run to $5. The partnership currently involves only a small group of Swift partners in the Swift GPI upgrade team. Swift with a small test group, Swift GPI, has rolled out new series of protocols since the last year to compete with the growing DLT platforms and specially Ripple and R3.
R3 with its DLT platform, Corda; will provide service to the member banks and institutions of the Swift GPI team in a series of tests for integration and full-scale adoption. The number of banks in the Swift GPI program is only 165 when compared to the 11000 total membership.
Ripple’s XPR is confirmed to be used as the primary settler of transactions on Corda; however, the amount of XRP or the associated volume is clear as of yet. The test network would be used to create comprehensive results after real-world application. The surge in volume earlier during the day, hence, might be attributed to weak or over-hyped fundamentals.
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Source: CoinGape

Spain’s Financial Regulators Blacklisted Cryptocurrency Broker, FX Trading Corporation

Spain’s financial regulators have caught a broker dealing with different assets trading without having prior permission to do so – henceforth blacklisted its trading in Spain.
Unauthorized Trading Caught
The latest report unveils that the financial regulatory body of Spain, CNMV (Comisión Nacional del Mercado de Valores) reviewed the trading activities of ‘FX Trading Corporation’, a financial broker. As a result, the broker is caught providing investment and trading service of digital assets which isn’t authorized within the nation.
Moreover, the details revealed that the firm is not officially registered in Spain which means they’re not supposed to provide financial services to Spain citizens without being compliant with the law. Consequently, FX Trading Corporation has seen violating the law provided under Article 17 of the Securities Markets Law.
Spain Isn’t Against Crypto
It’s not just Spain, crypto history records a number of regulators across various countries which are doing the effort to curb the crypto scams, hacks, and other illicit dealings. However, Spain doesn’t have any specific rules relating to cryptocurrencies but it does follow the suit of other countries. As such, over the past, it has released a series of warnings to caution public against illicit crypto investment and warns companies who indulged in promoting crypto oriented scam schemes.
Additionally, On Jan 14, 2019, CNMV authorities added 23 forex and crypto exchanges to the list of warning and claimed that they don’t carry license to work within the nation. Few of such firms were, Black Parrot Ltd (running domains like tradex1.com, trade111.com), Bron Fox Ltd, TRADEBNP (operating under domain – tradenbnp.com) and unlike. The statement notes that;
Only registered companies have obtained authorization after proving compliance with certain requirements (sufficient capital, organization and adequate means, etc.) and are subject to the controls of the supervisory bodies.
Further, it is worth to note that the country’s regulators aren’t against the cryptocurrency, indeed Spain counts amongst those EU countries that have signed a declaration to encourage DLTs (Distributed Ledger Technology) across European regions.
What’s your stake of CNMV’s decision of blacklisting FX Trading Corporation? Share your opinion.
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Source: CoinGape

EY to Hire 2,000 People Across Blockchain, AI in India in the Next Three Years

Ernst Young, one of the largest professional services firms in the world, will be hiring 2,000 employees in India in the next three years as part of its plan to build up its digital solution services in a number of domains including blockchain technology.
EY to Invest $1 Billion to Expand into Blockchain, AI
EY, which predicted in 2016 that large-scale implementation of blockchain technology would take at least three to five years, said in a report that companies who invest, experiment and adapt to DLT by that time will be able to reap the rewards of early adoption.
The digital services team in India will be assigned to develop blockchain projects for corporate and government customers. Other domains include analytics, automation, artificial intelligence, and tax technology, Ram Sarvepalli, EY India head of advisory services, told the Economic Times.
“There is significant capital available for new startups and big Indian companies are investing in digital,” Sarvepalli added. The government is heavily investing in digital from a citizen services perspective. Many of the traditional customer-oriented industries are trying to find models which allow access to customers to tier-two, tier-three towns from a digital perspective. There are regulatory changes like GST coming in and e-filing and automation of central and state govt departments … all of this is triggering a massive opportunity and the need for hiring digital talent.”
EY is adding about 600 employees every six months in analytics and has hired nearly 700 people in the last 18 months for digital governance jobs. Globally, the investment in new technology solutions will reach $1 billion over the next two financial years.
Related Reading: Indian Government to Draft Cryptocurrency Regulation Next Month
The company already has more than 2,200 people working on digital and technology solutions in India, with 25 percent of recruits being from a Science Technology Engineering Maths (STEM) background.
Ernst & Young (EY), one of the ‘Big Four’ public service firms, was an early adopter of blockchain technology. It has recently announced the launch of its EY Ops Chain Public Edition (PE), which allows businesses to benefit from private transactions over a public blockchain. The solution uses the zero-knowledge proof (ZKP) framework, which brings unparalleled protection during communication.
With blockchain labs in London and Paris, the firm is also developing DLT-powered tracking capabilities called EY Blockchain Private Transaction Monitor. The Indian booming economy will be able to adopt these technologies under development as EY plans to place thousands of new workers in the field over the next three years.
A business that is also booming for EY is auditing services of crypto firms. The Big Four accountancy firms, which include EY, are hiring blockchain specialists to address the new demand.
Featured image from Shutterstock.
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Accenture Rolls Out a New Software License Management App Based on Blockchain


Accenture Rolls Out a New Software License Management App Based on Blockchain

Leading management consultancy firm Accenture has developed a blockchain-based application created to manage and track software licenses.

Accenture Rolls Out a New Software License Management App Based on Blockchain

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Source: CoinSpeaker

US Regulator Wants to Adopt Blockchain to Maintain Pace with Market Manipulators

The chair of the U.S. Commodity Futures Trading Commission (CFTC) has said that he wants to adopt blockchain to “keep pace with those who attempt to defraud, distort, or manipulate” financial markets.
CFTC Chairman Giancarlo Envisions Compliance Built into Business Operations Through Smart Contracts
J. Christopher Giancarlo spoke about the use of blockchain and machine learning for regulatory purposes at Georgetown University. The head regulator is confident the digital era will prove to be a positive factor to better oversee financial markets.
“These tools will become even more paramount as emerging blockchain technologies seek to decentralize markets or disintermediate traditional actors. It is critical that we have the ability to keep pace with those who attempt to defraud, distort, or manipulate.”
Giancarlo gave several examples of adoption of new technologies at the regulatory level.
These include “using machines to independently identify segments of the markets where concentration risks or unrecognized counterparty exposures are emerging and flag them for staff consideration and action” and “new machine-learning based surveillance tools” designed to “sniff out patterns of likely illegal trading activity or attempts to manipulate markets for enforcement analysis.”
The CFTC chair said the ongoing digital revolution in the world’s trading markets have far-ranging implications for capital formation and risk transfer. He added that he expects the majority of standard tasks to be managed by machines as automation technologies are paired with blockchain to standardize and distribute data to market actors and regulators.
“We can also envision the day where rulebooks are digitized, compliance is increasingly automated or built into business operations through smart contracts, and regulatory reporting is satisfied through real-time DLT networks. The machines here at the CFTC would have the ability to communicate regulatory requirements and consume and analyze the data that comes in through such systems.”
Giancarlo has recently stated that cryptocurrencies “are here to stay” and that many countries across the globe are hungry for functioning currencies, which shows there is a market for digital currencies. He is, however, skeptical about cryptocurrencies’ ability to rival the dollar or other hard currencies.
While the U.S. CFTC is yet to adopt blockchain technology to better oversee financial markets, the financial watchdog has won its first Bitcoin fraud action. A  New York federal court has ordered Gelfman Blueprint and its CEO Nicholas Gelfman to pay over $2.5 million in civil monetary penalties and restitution over their +$600,000 Ponzi scheme.
Related Reading: CFTC Chair: Cryptocurrencies Have a Future, They Are Here to Stay
Featured image from Shutterstock.
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Nouriel Roubini Expands Anti-Cryptocurrency Crusade to Blockchain Technology

Controversial economist and professor at New York University’s Stern School of Business, Nouriel Roubini, has long been a detractor of cryptocurrencies, first warning investors against the “scam” in 2013.
Since his widely reported tirade against the cryptocurrency, its price has risen 11x, mainly due to increased adoption and growing promise.
Despite being undeniably wrong about cryptocurrency so far, Roubini has since doubled down on his original claims, now expanding his attack on cryptocurrency to the technology that underpins it: blockchain.
In a recent post on Project Syndicate, Roubini wrote an article titled “The Big Blockchain Lie,” in which he speculates that blockchain and DLT technology will shortly become obsolete.
He begins his attack on the technology by highlighting the recent cryptocurrency market crash, exclaiming that many cryptocurrencies are down 80%+ through the course of 2018, equating the price action of the volatile markets to their adoption and success as fintech products.
Roubini neglects to mention that many of these cryptocurrencies are still up significantly on a one or two-year price chart.
Nouriel Roubini Hates Blockchain Too
With regards to blockchain technology, Roubini describes it as being the “last refuge of the crypto scoundrel,” explaining that it is the “most overhyped – and least useful – technology in human history,” expanding on this cruel and inaccurate observation by referring to it as a “glorified spreadsheet.”
Nouriel also equates blockchain technology to being a sword that libertarians use to plot the destruction of governments, financial institutions, and central banks.
“In practice, blockchain is nothing more than a glorified spreadsheet. But it has also become the byword for a libertarian ideology that treats all governments, central banks, traditional financial institutions, and real-world currencies as evil concentrations of power that must be destroyed. Blockchain fundamentalists’ ideal world is one in which all economic activity and human interactions are subject to anarchist or libertarian decentralization,” he said.
Ironically, most of the groups Roubini mentions as being hated by proponents of blockchain tech are the very groups propelling its world-wide adoption.
JPMorgan, one of the world’s largest financial institutions, is one such group that is heavily implementing blockchain technology into their infrastructure in order to increase their operational efficiency.
Within the bank, there is a group – called the Blockchain Center of Excellence – that is exploring how the bank can best use blockchain and DLT technology expand their technical prowess.
On JPMorgan’s website, they explain their dedication to researching and utilizing blockchain technology:
“The Blockchain Center of Excellence (BCOE) leads efforts for applications of distributed ledger technology (DLT) within JPMorgan. We are exploring blockchain use cases and piloting solutions across business lines. We are active in the blockchain ecosystem: developing technology, investing in strategic partnerships, and participating in cross-industry consortia.”
Also, governments across the globe are encouraging blockchain research and implementing DLT tech into their own infrastructures.
Recently, Park Won-soon, the governor of Seoul, spoke about blockchain technology and the government’s openness to it, saying:
“There’s no doubt blockchain is the core technology of the fourth industrial revolution, which will shape the future IT industry. I will make efforts to help Seoul become the center of a blockchain industry ecosystem.”
Despite Roubini’s relentless crusade against cryptocurrency and blockchain technology, widespread and real-world adoption continues to occur each day, with more and more corporations and institutions utilizing DLT solutions created by major companies, like IBM.
As the technology continues to blossom, it is unlikely that Roubini will ever admit that he is wrong and will always be a small thorn in the side of the online cryptocurrency community.
Featured image from Shutterstock.
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FSB: Constant Evolution of Crypto Usage in Payments can have Future Implications on Financial Stability

Financial Stability Board (FSB) releases a report stating cryptocurrencies do not pose a threat to the international financial system, however, if cryptos became widely used in payments and settlements, it can have implications in the future.
Cryptos, not a threat to financial stability yet
After the International Monetary Fund (IMF) recently came out and warned that the “rapid growth” of bitcoin and other cryptocurrencies can create “new vulnerabilities in the international financial system,” Financial Stability Board (FSB) released a report a couple of days back.
The international body monitors and makes suggestions about the global financial system which in its report states,
“Based on the available information, crypto-assets do not pose a material risk to global financial stability at this time. However, vigilant monitoring is needed in light of the speed of market developments.”
However, there are chances of cryptocurrency affecting the stability of the global financial system in the future:
“Should the use of crypto-assets continue to evolve, it could have implications for financial stability in the future. Such implications may include confidence effects and reputational risks to financial institutions and their regulators; risks arising from direct or indirect exposures of financial institutions; risks arising if crypto-assets became widely used in payments and settlement; and risks from market capitalization and wealth effects.”
Also, the primary risks present in the crypto market viz. low liquidity, volatility, operational risks and use of leverage means, “crypto-assets lack the key attributes of sovereign currencies and do not serve as a common means of payment, a stable store of value, or a mainstream unit of account.”
Crypto assets further raise policy issues such as investor and customer protection, anti-money laundering and combating the financing of terrorism (AML/CFT) regulation, tax evasion, market integrity protocols, and illegal securities offerings.
It further notifies that government bodies and national authorities have taken action such as issuing warnings while supporting the underlying distributed ledger technology (DLT) that contained risks to consumers and benefits of innovation.
In another instance, Elizabeth Warren, a potential 2020 Democratic presidential contender warned in a Senate Banking Committee hearing that “The challenge is how to nurture productive aspects of crypto with protecting consumers.”
Ohio Senator Sherrod Brown, who will take over the Banking Committee as chair if Democrats win in the next month’s election also showed wariness over cryptos as he shared concern over families investing their savings into crypto.
While, the current Baking Committee Chair, Idaho Republican Mike Crapo stated,
“Blockchain networks have the potential to improve processes for things like smart contracts, payments and settlement, identity management and even things yet undiscovered,” Crapo predicted.
Another defense came from Pennsylvanian Pat Toomey in the form of “central banks over time haven’t had the greatest record of preserving the value of their currencies,”
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Source: CoinGape

FedEx Joins Hyperledger’s Blockchain Hub to Advance Widescale Adoption

A new press release published yesterday claims that FedEx, the U.S.-based courier delivery service has just joined Hyperledger.
FedEx Becomes Hyperledger’s New Partner
According to the press release, FedEx has just partnered up with Hyperledger, an open-source blockchain project that aims to revolutionize cross-industry blockchain technologies. Hyperledger is hosted by the Linux Foundation, and its goal is to allow different organizations to create new applications, which would be based on the blockchain technology.
Apart from apps, these organizations would also be capable of making industry-grade platforms, and even entire hardware systems that would improve their business transactions. FedEx’s decision to join the project has made it one of more than 270 members.
These include numerous large companies like Intel, JPMorgan, IBM, Deutsche Boerse, among others. Kevin Humphries, FedEx Services’ senior vice president, commented on the move by stating that there are large implications for the blockchain technology.
Despite the fact that many consider this technology to still be in a state of infancy, it has a lot of potential to reshape logistics, supply chains, transportation, and other aspects of FedEx’s business.
Blockchain Technology — A Way to the Future
This is not the first time that FedEx has made a move that would get it closer to the blockchain tech.
Back in February of this year, the company joined the BiTA (Blockchain in Transport Alliance), which is a group whose members also include some major companies, such as GE transportation, JD Logistics, and BNSF. BiTA’s goal is to implement blockchain technology for the purpose of improving security and transparency in the shipping industry.
Brian Behlendorf, Hyperledger’s executive director, previously stated that the DLT (Distributed Ledger Technology) would bring a lot of changes to the world of business. He even predicted that the use of this technology will reduce the power of companies like Amazon, Facebook, and even Google.
In the new press release, he commented on the growth of this technology’s adoption rate, but also value. He stated that the blockchain technology is gaining traction in numerous industries around the world.
As for FedEx, the company has shown a proactive approach when it comes to adopting blockchain technology. Fred Smith, the company’s CEO, stated earlier this year that he believes that blockchain technology will be the “next frontier” in the world of global supply chains.
Only a few months later, FedEx Institute of Technology entered a new partnership, this time with Good Shepherd Pharmacy. This is a pharmacy services company, and the goal of the partnership is to see the development of new infrastructure. The infrastructure would be based on the blockchain technology, and it would significantly help cancer patients by providing easy access to necessary medication.
Featured image from Shutterstock.
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Samsung Blockchain To Help Korea Gov’t Improve Services

Samsung SDS on Friday announced that South Korea’s Customs Service will use the company’s blockchain solutions to implement a decentralized customs clearance system. SDS is the company’s IT division that houses innovations such as Nexledger blockchain and biometric solution Nexsign.
Per a new agreement, 48 Korea-based institutions such as public agencies, shipping companies, insurers and other stakeholders will participate as distributed nodes to bring transparency, efficiency and security to the customs process. Use cases include sharing of necessary documentation and fraud prevention such as inability of smugglers to forge documents.
Continue reading Samsung Blockchain To Help Korea Gov’t Improve Services at Crypto Daily™.
Source: Crypto Daily