Crypto News Digest #2

KVANTOR
KVANTOR
Aug 31, 2018 · 4 min read

The chief information officer of JP Morgan, Lori Beer, has said that blockchain will “replace existing technology”

According to Beer, alongside artificial intelligence and APIs, blockchain now stands as one of JP Morgan’s three main focuses for this year. “The application of this technology in business is more important to us than the technology itself. We are looking not only for cost reduction but also for opportunities to develop new products,” she said.

That includes simplifying payment processing and the storage of customer information, while the bank will also look at its potential to strengthen ‘Know Your Customer’ and anti-money-laundering rules when sending money between banks.

Source: https://www.blockchaintechnology-news.com/2018/08/28/jp-morgan-cio-says-blockchain-will-replace-existing-tech/

Crypto is making its entrance into the world’s academic scene, and students are lining up to learn

A recent Coinbase study reveals that University students want to learn more about cryptocurrency and blockchain technology. Commissioned by Coinbase in partnership with Qriously, the survey sampled 675 U.S. students, and it found that students across all majors have an interest in blockchain technology.

Source: https://bitcoinmagazine.com/articles/blockchain-courses-popular-university-students-coinbase-study-finds/

Deloitte Publishes Report About Major Blockchain Trends

The article is written to provide additional insight into the research that Deloitte preformed which is called “2018 Global Blockchain Survey“. The promise for blockchains to create value for organizations is significant and following this belief a multitude of new industries have found brand new applications for blockchains, and we will explore the most prominent trends in this article.

Source: https://www.crypto-news.net/deloitte-publishes-report-about-major-blockchain-trends/

Huobi Going Public?

The Singapore-based cryptocurrency exchange Huobi is facilitating a majority shareholder takeover of a Hong Kong-listed company, which could see Huobi go public based on regulatory approval.

Source: https://cryptoslate.com/crypto-exchange-huobi-may-go-public-on-hong-kong-stock-exchange/

Indian State Government Will Issue Birth Certificates on a Blockchain

Bankura Municipal Corporation and Durgapur Municipal Corporation will be using blockchain tech to handle administrative operations such as processing requests and verifying legal identities to make processes like applications for legal documents such as birth certificates more streamlined.

Source: https://www.ccn.com/indian-state-government-will-issue-birth-certificates-on-a-blockchain/

The Bank of Israel (BOI) and Israel’s Finance Ministry are exploring the digital token version of a physical shekel, the country’s official currency.

The move is said to prevent tax evasion by using the prowess of blockchain technology–e.g. tracking a citizen’s transactional data in real-time while enabling faster transactions. The report also indicates that such an application could solely work on mobile phones.

In 2017, Bloomberg ranked the country as the №10 most-innovative economy in the world based on technology adoption and patent creation–two fundamental factors for cryptocurrency growth.

Source: https://cryptoslate.com/report-israel-may-adopt-cryptocurrencies-to-prevent-tax-evasion/

India to be one of world’s blockchain leaders by 2023

With the right amount of industry and government participation, India could be in leadership ranks in adoption of blockchain technology in the next five years, says a survey by global consultancy firm PwC.

Source: https://economictimes.indiatimes.com/industry/miscellaneous/india-to-be-one-of-worlds-blockchain-leaders-by-2023-survey/articleshow/65583233.cms

“Everyone is talking about blockchain, and no one wants to be left behind,” according to PwC’s 2018 Global Blockchain Survey

In a new report which included 600 executives from 15 territories, published by PwC on Monday, 84 percent of executives surveyed said their companies are “actively involved” with the technology.

Source: https://www.cnbc.com/2018/08/27/84percent-of-companies-are-dabbling--in-blockchain-new-survey-says-.html

The South Korean island of Jeju dreams of blockchain

The governor of the South Korean island of Jeju has officially requested that the central government allow the island to become a special zone for the development of blockchain and cryptocurrency technology, according to an August 13 article in Korean newspaper Korea JoongAng Daily.

“Blockchain is an opportunity for Korea to take the lead in global internet platform [development,]” said Won during the meeting, proposing that the central government, the provincial government of Jeju Island and private experts form a task force to discuss how the island could become a hub for the industry in Korea.

Source: https://www.ethnews.com/island-in-south-korea-seeking-to-become-blockchain-and-crypto-haven

Gazprom and Russian Airline S7 Put Aircraft Fuelling on Blockchain in Domestic First

“Using blockchain technologies in reciprocal accounting and settlements between aviation companies and fuel operators gives new impetus to the development of the entire aviation industry,” Gazpromneft-Aero CEO Vladimir Egorov commented.

Source: https://cointelegraph.com/news/gazprom-and-russian-airline-s7-put-aircraft-fuelling-on-blockchain-in-domestic-first

Bank of America (BofA), has applied for a blockchain patent for the secure storage of cryptocurrency

The application, entitled “Block Chain Encryption Tags,” was published by the US Patent and Trademarks Office (USPTO) August 23. It is described as, “A system that includes a device with a processor is configured to receive a first set of data elements and to obtain an encryption key from a memory.” In short, it implements encryption and links data units to the blocks of a certain blockchain as a system of data security.

Source: https://cryptonews.com/news/banking-giant-prepares-for-crypto-mass-adoption-2513.htm

Smart Contracts could disrupt every business in any sector

A computer scientist and Bitcoin precursor, Nick Szabo, first used the term smart contract in 1997. Smart contracts are actually tiny computer programs based on ‘if A then B’ logic, which are executed when certain conditions are met. It sounds like a no-brainer so one might ask, what’s so smart about these contracts?

Source: https://www.blockchaintechnology-news.com/2018/08/17/why-smart-contracts-will-re-define-business-and-trust-as-we-know-it/

European Parliament Member Calls for New ICO Crowdfunding Guideline

The European member of parliament, Ashley Fox, who represents the United Kingdom in Brussels, is looking to reopen a previously muted draft proposal for initial coin offerings (ICOs). The draft was written by Fox with hopes to impose new rules for crowdfunding platforms across Europe and for other operators.

Source: https://www.the-blockchain.com/2018/08/27/european-parliament-member-calls-for-new-ico-crowdfunding-guideline/

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