HSBC Goes From Paper to Blockchain / EY Reveals Tokenization Address / Jack Takes Bitcoin to Africa
December 3, 2019
Fresh off the Black Friday / Cyber Monday shopping madness time for this week’s edition — HSBC goes all-in as they announce their plan to shift $20 billion worth of assets to a new blockchain-based custody platform by March. EY reveals tokenization addresses on Ethereum’s public blockchain. Twitter & Square’s CEO, Jack Dorsey, has a plan to set his sights for the “future” of bitcoin and technology on Africa and its more than 1.2 billion people. It’s official everyone…France will test its Central Bank Digital Currency (CBDC) in Q1 2020. We take a look into the innovation throughout Bitcoin’s technology stack while reflecting on the last decade with blockchain.
In the DApps landscape, we’re talking about RSK launching a $200,000 grant program for dapp developers while Alchemy and Dapper Labs team up to tackle blockchain infrastructure problems. DeFi may be cannibalizing PoS security and Dapp.com’s Q3 2019 Dapp Market Report. Plus updates from Polkadot, Ocean Protocol, Cosmo, Elrond, Kadena, and ArcBlock. We even found room to cram in plenty of research (Q3 2019 Blockchain Landscape) & books (on Digital Assets & Enterprise Blockchain) along with insights on venture capital (new funds!!), infrastructure, DApps, Bitcoin, Economics, Exchanges, and Stablecoins. For MORE and to keep you up to speed, here’s a snapshot of the top stories this week around the industry.
HSBC, one of the largest banking and financial services organizations in the world, is planning to shift $20 billion worth of assets to a new blockchain-based custody platform by March. This is a vast improvement of the previous system as the HSBC platform will digitize paper-based records of private placements. The new HSBC platform, known as Digital Vault, will give investors real-time access to records of securities bought on private markets.…read more
According to the recent report published by Juniper Research that blockchain, along with “internet of things” trackers and sensors, would help to drive down costs for retailers. This would be achieved through the streamlining of supply chains, efficient food recall processes, and “simpler regulatory compliance.”…read more
The smart contract addresses running on ethereum’s public blockchain to tokenize assets has revealed by Ernst & Young, a multinational professional services firm headquartered in London. The asset in question is a wine bottle, a Tattoo Bottle unique token with its ID connected to an ethereum address that owns the token and the rights to the bottle…read more
According to a report by Xinhua, Xi called for China to become a world leader and “rule maker” in the field, saying blockchain had applications in the financial, manufacturing and public sectors. Zhang Feng, a chief engineer at the Ministry of Industry and Information Technology, stated in his keynote speech at the event that China would seek to establish a national committee for blockchain standards and prioritize research into developing applications for it. Blockchain, a new technology most associated with cryptocurrencies like Bitcoin, looks set to play a significant role in China’s governance after receiving an endorsement by Chinese President Xi Jinping, observers say…read more
Enterprise blockchain in the banking and financial services is crossing the chasm in 2019 as J.P. Morgan, HSBC, and Visa announced their key blockchain developments. While J.P. Morgan is using blockchain to optimize floorplan lending audits and to manage collateral, HSBC is going use blockchain to move $20 billion worth of assets. Visa is also further ramping up its data privacy solutions with blockchain…read more and for more from Biser Dimitrov
Bitcoin has come a long way over the past ten years. Relative to the first iteration of its software, the quality and reliability of current implementations have remarkably improved. Bitcoin is still the same. Much like a constitution, the core set of consensus rules that define its commercial properties, such as its algorithmic inflation and hard-coded supply, remain unchanged. The article illustrates the innovation and technological advancements taking place like Smart Contracts, Mining, and Privacy, etc…read more and for more from Lucas Nuzzi
Jack Dorsey, the chief executive of payments company Square and Twitter, has a plan to set his sights for the “future” of bitcoin and technology on Africa and its more than 1.2 billion people. A recent report revealed that The data somewhat supports Dorsey’s expectation that Africa will lead the way on bitcoin and cryptocurrency.…read more
The central bank of France plans to pilot a central bank digital currency (CBDC) for financial institutions in 2020. François Villeroy de Galhau, the governor of the Bank of France, announced that the bank will start testing the digital euro project by the end of the first quarter of 2020, French financial publication Les Echos reports Dec. 4. The Bank of France confirmed the news on Twitter, noting that the announcement was made at a conference co-hosted by two major French financial regulators, the French Prudential Supervision and Resolution Authority and the Autorité des marchés financiers.…read more
Research To Read This Week:
On January 3rd, 2009, in the wake of a global financial crisis that accelerated the growing chasm of inequality throughout world economies, a mysterious figure named Satoshi Nakamoto launched a virtual currency named Bitcoin that functioned atop what s/he called a ‘Proof of Work chain.’ As 2009 saw its end, blockchain development was limited. In fact, the first transactions ever to take place on the Bitcoin network were undertaken in December of 2009. The BitcoinTalk Forum, an early hotbed for blockchain developers, went live in November. The blockchain ecosystem was limited to a handful of technologists and developers with only an inkling of the phenomenon that they had already set in motion…read more and for more by ConsenSys
More For Your Week:
DApps (Decentralized Apps) Watch
EarnBet, recently rebranded from EOSBet, the original EOS gaming platform to expand outside the EOS ecosystem, said that the EOS mainnet is in a “sad state” and with intense network congestion and spam, users are unable to access their EOS accounts. The blockchain-powered smart-contract protocol, eosio, is a popular platform for the development and hosting of decentralized applications [DApps].…read more
Bitcoin startup Rootstock (RSK) has announced that it will be putting up $200,000 in grant money to fund the development of DApps built on the Bitcoin blockchain. RSK, which bills itself as the “first smart contract platform secured by the Bitcoin network, said that it is looking for developers to pitch any software tools that help the RSK ecosystem, such as “an in-browser wallet for DApps, a smart contract compile and deploy toolchain” or even a new RSK improvement proposal.…read more
On-chain lending has become the most popular decentralized finance (DeFi) application today, with over $600M in loans originated this year across MakerDAO, Compound, and dYdX. On-chain lending has the potential to disrupt traditional secured lending. But it seems it may do more than that: it might also disrupt proof of stake consensus…read more and for more from Haseeb Qureshi
Alchemy and Dapper Labs are teaming up to solve blockchain infrastructure problems. Alchemy’s core product is allowing Dapper to make over 7 million queries a day to the network, run the top blockchain dApp worldwide, and submit over 1200 ETH in transactions, including $28M+ in sales.…read more
📺 Tune In:
This week I’m tuning into Nisa Amoils’s Digital Asset Report from the NYSE as Sal Ternullo, Cryptoasset Services Co-Lead, KPMG US discusses KPMG’s innovations in the crypto-asset space, new data, custody and tax services.
👉 Download the latest Blockchain for Infrastructure Landscape Q3 2019 edition