BLOCKCHAIN

CYBERSECURITY STARTUP OFFERS BLOCKCHAIN SOLUTION FOR INFRASTRUCTURE: California-based cybersecurity startup Xage has announced a new tool, dubbed Xage Policy Manager, to help utilities and critical infrastructure providers secure their assets and systems using blockchain. The company’s new policy management tool is aimed at providing a decentralized solution to implement end-to-end security for these companies through a series of protocols to force secure operations, with a single dashboard to view and manage them all. This solution is also intended to offer infrastructure companies tools to comply with new and forthcoming US government directives. Sigue leyendo

BLOCKCHAIN

YAHOO FINANCE MOVES INTO CRYPTO: One of the leading news platforms for financial market information, Yahoo Finance, has added a crypto trading feature to its iOS mobile app. In a blog post, the company announced that users can now conduct in-app trading of four different cryptos, including Bitcoin and Ethereum. The company has said that, while this feature is only available on its mobile iOS platform, it plans to roll out the service to Android, desktop, and mobile web platforms. Yahoo has added this new feature through its partnership with Tradelt, an application programming interface (API) infrastructure company that acts as a portal for trading financial assets by integrating with brokerage services. Although Yahoo hasn’t given details on which brokerage service its app connects to for trading, Tradelt integrated with US crypto exchange giant Coinbase, per a company statement last year. Yahoo’s move appears to be part of a logical progression, with the platform already providing price tracking for over 100 cryptos. The move also suggests that, despite continued regulatory uncertainty and downward price pressures hitting the crypto market in 2018, blockchain-backed assets remain attractive. Sigue leyendo

BLOCKCHAIN

BLOCKCHAIN EXPLORATION REMAINS CENTER STAGE IN FINANCIAL SERVICES: A new PwC survey of 600 executives from 15 territories found that 84% of organizations represented by respondents have some involvement with blockchain technology. Of the survey respondents, 64% reported that their organizations had a blockchain project underway, though 34% of participants indicated that such projects are only at the research or theoretical stage of development. Costs, lack of knowledge, and inadequate governance were highlighted as obstacles to developments of blockchain projects by those companies that have yet to make much progress. Sigue leyendo

BLOCKCHAIN

ICO FUNDING COOLS DOWN: Initial coin offering (ICO) funding is undergoing a significant pullback, per data from Crunchbase and CoinSpeaker. As of August 19, only three ICOs had raised $25 million or more during Q3 2018. This represents a 78% decline from Q2, when 14 ICOs raised $25 million or more. Meanwhile, Q1’s number was even higher, at 32. According to CoinSpeaker, total ICO funding stood at $617 million for August as of the 19th. In contrast, $926 million was raised by ICOs in July, and $1.75 billion was raised in May. This points to a stark cooling in ICO activity, likely tied to the steep declines hitting the crypto industry in 2018. Sigue leyendo

BLOCKCHAIN

WORLD BANK’S BLOCKCHAIN BOND RAISES $80 MILLION: The first public bond developed and managed on blockchain has raised A$110 million ($80 million), with participation from seven investors, per Commonwealth Bank of Australia (CBA). Investors in the bond include the American fund Northern Trust, three Australian state governments, and First State Super, a local pension fund, according to the CBA, chosen by the World Bank as the sole manager of the lead. Dubbed bond-i — or Blockchain Operated New Debt Instrument — the two-year bond, which has a 2.2% yield return, is the World Bank’s exploratory attempt into utilizing blockchain for bond sales. The World Bank, whose bonds are rated AAA, typically issues bonds of $50 billion and $60 billion per year as part of its mandate to back economic growth in developing countries. And this project could pave the way for a greater percentage of those issuances to be moved onto a blockchain. Developed in-house by the CBA’s blockchain lab, this venture is being viewed as the first step away from the existing manual bond issuing process to a more efficient and cheaper automated procedure. While these practical experiments are in the early stages, this is further evidence that blockchain’s transformative capacity is moving toward realization. The US Treasury bond market is worth $14.6 trillionalone, and this initial experiment could stimulate a significant revolution for the global bond sector. Sigue leyendo

BLOCKCHAIN

GRAPH BLOCKCHAIN SIGNS KOREAN TRADE ORGANIZATION: Datametrex AI and Bitnine’s joint venture company, Graph Blockchain, has signed a memorandum of understanding (MOU) with the Korean Trade Organization (KTNET) to build and implement a blockchain-based electronic trade services platform. Established in 1989, KTNET is able to deliver automation solutions for complex trade processes thanks to its paperless trade infrastructure, with annual economic effects of these systems totaling $5.57 billion. Graphic Blockchain, which has a $30 million valuation and is in the process of being listed on the Canadian Securities Exchange (CSE), develops blockchain solutions for both corporate and government clients, including graphic data analysis and consulting services. With KTNET managing an average of 370 million paperless documents per annum, the current agreement aims to further develop Korea’s electronic trade process through blockchain-based automation. While much attention has been paid to Korea’s ban on ICO, this current partnership highlights the growing influence of blockchain technology on the finance sector, with solutions utilizing the technology emerging more and more frequently.