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Blockchain Day Emirates • December 15, 2018

Blockchain Day Emirates – is an event that brings together the world’s leading visionaries, innovators, and thinkers to explore new…

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Tag: banking

South Korea: Shinhan Bank Turns to Blockchain Technology to Augment Financial Services

Category: Adoption, Blockchain, Business, Finance, News

South Korea: Shinhan Bank Turns to Blockchain Technology to Augment Financial Services

South Korea’s second largest bank has started a pilot project to implement a blockchain-based work process across a range of financial services and internal protocol management systems, reported Korea Times on December 10, 2018. Leading Blockchain Adoption Managing assets of over $260 billion and storing $192 billion worth of the Korean won, Shinhan Bank is one of the largest financial…

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R3 Adds Ripple as First Settlement Mechanism on New Payments dApp

Category: Adoption, Altcoins, Blockchain, Business, Development, Finance, News

R3 Adds Ripple as First Settlement Mechanism on New Payments dApp

R3, the world’s leading developer of enterprise blockchain solutions for business, launched a new global payment platform that uses Ripple’s XRP as its initial base currency, the company announced in a press release on December 5, 2018. R3 Launches a New Global Payment Platform One of the leading enterprise blockchain software companies has just announced the launch of a new…

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The U.S. DFS Approves Digital Payment Platform for Commercial Banking Transactions

Category: Adoption, Altcoins, Blockchain, Business, Finance, News, Regulation

The U.S. DFS Approves Digital Payment Platform for Commercial Banking Transactions

Maria T. Vullo, the Financial Services Superintendent, announced on December 4, 2018, that the Department of Financial Services (DFS) had approved Signet, the New York State-Chartered Signature Bank’s new digital payment platform. Signet: Innovative Solutions for Bank Payment Systems According to the DFS’ press release, Signature Bank is the first bank to receive regulatory permission to use blockchain technology in…

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BIS Report: Cryptocurrencies Are a Poor Store of Value, Unlikely to See Mass Adoption

Category: Adoption, Altcoins, Bitcoin, Blockchain, Commentary, Finance, Guides, News

BIS Report: Cryptocurrencies Are a Poor Store of Value, Unlikely to See Mass Adoption

A report from the Bank for International Settlements titled “Money and payment systems in the digital age,” published November 1, 2018, suggests that leading cryptocurrencies such as bitcoin, ether, and stablecoin tether do not serve the primary functions of money, and are, therefore, a poor store of value. Unlikely to Witness Mass Adoption The report highlights that digital currencies have not…

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HSBC Completes Blockchain-Based Transaction for India’s Reliance Industries

Category: Adoption, Blockchain, Business, Finance, News

HSBC Completes Blockchain-Based Transaction for India’s Reliance Industries

The British multinational banking organization HSBC and Belgium’s ING Bank have partnered to execute a trade transaction using the blockchain network from a U.S.-based Tricon Energy to India’s Reliance Industries. According to an Economic Times article published on November 4, 2018, the blockchain-enabled letter of credit transaction is the first of its kind for India and has significantly reduced the…

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Tether Confirms Banking with Deltec; Latter Confirms $1.8 Billion in Account

Category: Altcoins, Ethereum, Finance, Investment, News, Platform, Tech

Tether Confirms Banking with Deltec; Latter Confirms $1.8 Billion in Account

Tether Limited, the company developing the USDT stablecoin, has announced a new banking partnership. In a statement published November 1, 2018, the company confirmed long-standing rumors that Deltec Bank & Trust Limited would be the next financial institution to hold its cash reserves. Headquartered in the Commonwealth of The Bahamas, Deltec released a signed statement confirming the account’s “portfolio cash…

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Cryptocurrency Bank Revolut Faces Heat For Abusive Recruitment Activities

Category: Altcoins, Bitcoin, Business, Finance, News, Platform, Tech

Cryptocurrency Bank Revolut Faces Heat For Abusive Recruitment Activities

Revolut, a digital banking alternative is recently experiencing a bit of trouble from Spanish Community for their abusive recruitment activities. According to an article published by ElDiario on October 21, 2018, the fintech bank is implementing unfair hiring activities, resulting in Revolut gaining free work from people looking for employment. Playing With People Looking For Work Revolut, a “challenger” bank…

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Coinbase Introduces Circle’s Center Stablecoin on Exchange, Critics Cry Foul

Category: Altcoins, Blockchain, Finance, News, Platform, Tech

Coinbase Introduces Circle’s Center Stablecoin on Exchange, Critics Cry Foul

Cryptocurrency giants Coinbase and Circle recently announced on October 23, 2018, the addition of the Center (USDC) stablecoin on the former’s exchange. According to the Coinbase blog, it is the first time the cryptocurrency exchange has supported a stablecoin which it believes is fundamentally different from any existing stablecoins in the market. Coinbase and Circle Form the Centre Consortium According…

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Dukascopy Swiss-Based Forex Bank Launches Ether CFDs

Category: Altcoins, Bitcoin, Business, Finance, Investment, News, Regulation

Dukascopy Swiss-Based Forex Bank Launches Ether CFDs

Swiss-based forex broker and crypto-friendly bank, Dukascopy have announced the launch of its Ether contracts for differences (CFDs) after successfully adding Bitcoin CFDs to its product offerings earlier in the year, according to a Finance Magnates report on October 9, 2018. Dukascopy Bank Joins Crypto Bandwagon Per sources close to the matter, Geneva-based retail forex broker, Dukascopy Bank has added…

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The Blockchain Industry Could Reach $7 Billion, Says Bank of America

Category: Blockchain, Commentary, Finance, News, Tech

The Blockchain Industry Could Reach $7 Billion, Says Bank of America

Although the blockchain sector is still an emerging industry, the Bank of America estimated that the addressable market for blockchain will soon reach $7 billion. According to CNBC, while blockchain technology is not standard in a business-to-consumer market, it could help improve existing services in business-to-business markets such as the Software-as-a-Service (SaaS) industry, the real estate sector, the supply chain,…

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