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Bank of Korea: CBDC Could Threaten Commercial Bank Stability

CBDC Could Threaten Financial Stability of Commercial Banks, Says Bank of Korea

The Bank of Korea (BOK) has said that the introduction of a state-owned and issued digital currency in the form of central bank digital currency (CBDC) in South Korea could possibly zero-out commercial banks, reports Yonhap News Agency. According to the source, the BOK published a report expressing concerns with low deposits demands into commercial banks that may result from …


Credit Suisse Successfully Tests Blockchain for Cross-Border Payments

Credit Suisse Successfully Tests Blockchain for Cross-Border Payments

Swiss multinational investment bank and financial service company Credit Suisse confirmed today that its asset management arm which manages over USD 400 billion has successfully tested a blockchain-based cross-border transaction, as reported by Reuters. According to the post, parties involved in the test — Portugal’s online bank Banco Best and Luxembourg-based order-routing platform Fundsquare — confirmed that a blockchain-based platform was used …


Facebook “Acquihires” Blockchain Startup Chainspace

Facebook _Acquihires_ Blockchain Startup Chainspace

Despite the prolonged bear market, interest in blockchain technology continues to soar. Acquisitions are growing and now, a common practice called “acquihire” sees companies targeting blockchain startups for either both tech and expertise or to simply recycle their expertise. The latest finds social media giant Facebook in a move to acquihire a small blockchain-startup Chainspace, reports news outlet Cheddar yesterday. …


Ethereum 2.0 Nears With Phase-0 Pre-Release Approaching Stable

Ethereum 2.0 Nears With Phase-0 Pre-Release Approaching Stable

The flagship dapp platform Ethereum has been undergoing several upgrades to relaunch as Ethereum 2.0, featuring its Constantinople and Serenity upgrade. Developers have been sprinting for months now to scale to the platform’s next and final developmental milestone. Notification of the update was released on GitHub. The Ethereum developers’ community explained how this is the first release – dubbed the …


Africa, China Mobile Tech Market and Cryptocurrency Revolution

Africa, China Mobile Tech Market and Cryptocurrency Revolution

Africa may have contributed a great deal to Bitcoin transactions, according to peer-to-peer crypto exchange Paxful. This has been partly due to the increased inflation rate in some countries and the fact that cryptocurrencies appeal to a large number of underbanked and unbanked individuals on the continent. The quest to venture into cryptocurrency related business relation as the opportunity in …


Is 2019 the Year of the Crypto Bull Market?

Is 2019 the Year of the Crypto Bull Market?

How Long Will the Crypto Market Bull Sleep? Speculations about the cryptocurrency market continue to weigh heavily on the hearts of crypto enthusiasts as the market is yet to improve from the slump of 2018. The space is now left with dashed hopes, closed crypto exchanges, layoffs, hacks and a whole lot of constructive partnerships by the very few who …


Danish State Energy Firm to Examine IOTA’s Tangle in Electricity Supply Chain

Danish Energinet to Use IOTA’s Tangle in Electricity Supply Chain Market

IOTA, an internet-of-things system based on distributed ledger technology (DLT), has announced a partnership with Danish state-owned energy company Energinet, with the hopes of exploring Tangle — the native technology of IOTA — towards an efficient electricity supply chain. “Energinet has been exploring concepts of digital trust and distributed ledger technologies (DLT),” the blog post reads. This is in tune …


Banks in India Push for Blockchain in Lending

Banks in India Push for Blockchain Use in Lending Business

Some major Banks in India are reportedly combining resources to harness blockchain technology in the lending business to cater to micro, medium and small scale enterprise (MSMEs) for transparency and reliability of credit data structures. As reported by the Economic Times, a band of 11 banks to include Standard Chartered Bank, ICICI Bank, HDFC Kotak Mahindra Bank, and South Indian Bank …


SBI, R3 Venture to Further Adoption of Enterprise Blockchain

SBI, R3 Venture to Further Adoption of Enterprise Blockchain

A notice released today by Tokyo-based financial service firm SBI Holdings has revealed a joint venture with R3 where it holds a major outside shareholder, to further the adoption of enterprise-grade blockchain solutions. As per the notice, the joint venture is to be sited in Eastern Asia and will take JPY 500 million (USD 4,572,500)  to set up. Expectations include facilitating the …


New Yorkers Can Now Buy Bitcoin at ATMs With Debit Cards

New Yorkers Can Now Buy Bitcoin at ATMs With Debit Cards

With cryptocurrency ATMs on the rise around the world with machines globally passing the 4,000 total at a rate of five installations a day, both New York and Chicago are showing continued US dominance in the sector. New York now offers customers the opportunity to purchase Bitcoin using a regular credit card at machines supplied by ATM provider LibertyX. The company …


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