According to CNN, embattled Canadian cryptocurrency exchange QuadrigaCX has reportedly lost more than $145 million in cryptocurrency. Once the largest cryptocurrency exchange platform in Canada, QuadrigaCX’s operations have come to a halt after a series of tumultuous events.
To contextualize the chronology leading up to this recent news announcement, here’s a timeline of some recent events related to the company:
January 2018: Canadian Imperial Bank of Commerce (CIBC) freezes bank accounts opened by QuadrigaCX banking processor, Custodian Inc.
December 2018: CEO Gerald Cotten pronounced dead from complications related to Crohn’s disease while building an orphanage in India.
January 14th, 2019: Both QuadrigaCX and Cotten’s widow, Jennifer Robertson, release statements concerning the death of Cotten. …
Blockchain development firm R3 is back at it again, announcing today that it has entered into an agreement with Swift, the world’s premier financial messaging service between major financial institutions.
After recently announcing that it had entered into a development agreement with ING, R3 is continuing to expand its portfolio and build blockchain-based products geared towards institutional adoption and integration.
Under the scope of this proof-of-concept collaboration, R3 will work to integrate its blockchain platform Corda with Swift’s GPI technology, a solution granting firms the ability to authorize and validate cross-border payments.
Swift isn’t the first cross-border payment solution to integrate blockchain technology. IBM and Stellar have teamed up to launch World Wire, which allows cross-border transactions between financial institutions by way of stable coins. Furthermore, AMEX joined Ripple to avail of business-to-business cross-border transactions. …
The IBM Food Trust Blockchain, an initiative launched by the international IT giant in 2016 to enhance traceability in food supply chains, is planning on adding new companies to its growing list of participating suppliers this year — including the largest food company in the world, Nestlé.
The goal of IBM’s initiative is to help food suppliers and retailers manage their supply chains more effectively, increasing the rate and precision with which food recalls can be issued and attributed to specific outbreak incidents. …