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News

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IMF backtracks from its April claim of ‘cryptos posing no risk to global finance’ to now ‘continued rapid growth of crypto assets could create new vulnerabilities in the international financial system’

  Only few months ago, International Monetary Fund (IMF) devoted an entire chapter to its annual report and emphasized ‘cryptos posing no risk to global finance’. Furthermore the financial guiding arm of the world also praised the underlying Distributed Ledger Technology (DLT) (a.k.a. blockchain). But now in its latest World Economic Forum (WEF), October 2018…
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PricewaterhouseCoopers (PwC) collaborates with Cred to develop a USD pegged stable coin

  One of big 4 auditing and accounting firms of the world ‘PricewaterhouseCoopers (PwC) is partnering with a decentralized lending firm ‘Cred’ for backing development of their very own stablecoin. The value of the stablecoin will be pegged to USD. This news comes after a wave of various stablecoin projects announced and some already functioning…
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$30 Million worth Manhattan real estate property tokenized using Ethereum blockchain

In a first for the city of Manhattan, USA, a $30 Million luxury condo real estate property was tokenized by the ethereum blockchain. A partnership between two firms Propellr and Fluidity are offering this tokenized product. The concept was previously conceptualized by Michael Oved, Fluidity co-founder and Todd Lippiatt, Propellr, CEO: https://tokenwaterfall.io/ Michael Oved, Fluidity…
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UAE to legalize and regulate ICOs starting early next year

With the rise to funding via ICOs worldover in the last two years, United Arab Emirates (UAE) will soon enable domestic firms to raise capital via ICOs. Starting tentatively early next year, ICOs will be recognized as ‘securities’ by authorities. New regulations are currently in draft. Obaid Saif Hamad Al Zaabi, CEO, Securities and Commodities…
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Australia’s National Disability Insurance Scheme (NDIS) to trial blockchain for payment system

  Data61 is leading digital research network to help create a data-driven future. It is created by Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO). Now they have developed an app to trial & explore the potential for blockchain technology to create ’smart money’. The first use case is targeted to participants and service providers…
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Singaporean Containership operator Pacific International Lines Ltd (PIL) partners with IBM to trial digital ‘bill of lading’ using blockchain technology

  Tech giant IBM partners with with one of Singapore’s biggest shipper, Pacific International Lines (PIL) to trial a digital version of ‘Bill of Lading’ secured for immutability by blockchain technology. In international trade over sea by shipping and cargo, the ‘Bill of Lading’ is taken as the proof of ownership & receipt of goods.…
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S.Korean crypto exchange Bithumb to unveil DEX by October end

South Korean crypto exchange giant Bithumb has announced to unveil its own Decentralized Exchange (DEX) by the end of this month. It is being developed with the assistance of One Root Network (RNT). Though DEXs are typically not as user friendly as their centralized counter parts, they do offer certain benefits. DEXs are also not…
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US brokerage firm TD Ameritrade backs ErisX, a new crypto-related exchange

U.S. brokerage firm giant TD Ameritrade has announced a strategic investment in a Commodity Futures Trading Commission (CFTC) regulated crypto exchange ErisX. TD Ameritrade, was the first financial services firm to offer approved clients access to bitcoin futures contracts introduced last year for the first time ever. ErisX on the other hand offers both bitcoin…
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Zero fee trading platform & marketplace StellarX now operational

Zero fee Stellar blockchain based ‘StellarX’ is fully functional now after its successful beta test. Because of the companies promise to “refund”, transactions cost nothing. Moreover, the platform is more than just a crypto trading platform; it’s a marketplace for any digital asset. In theory, it can be used to trade sovereign bonds as well.…
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